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New year, new goals! Do your New Year’s resolutions include becoming a homeowner? If so, plan to take a free, CHFA-sponsored homebuyer education class. This will help you feel knowledgeable and prepared for the journey ahead. Additionally, here are some recent market trends to know about going into the New Year.
Inventory: Low inventory of available homes for purchase is likely to continue so prepare to be flexible and patient with your home search. However, some have predicted that Baby Boomers who are looking to downsize—and who have become accustomed to the higher interest rates—may add inventory to the market. While this news is hopeful, you should still consider some strategies to accommodate low inventory, including expanding your desired location and loosening up your wishlist to prioritize must-haves and dealbreakers.
Affordability: There is a growing consensus that interest rates will continue to remain high in the coming years, as the Federal Reserve adjusts rates to curb inflation, etc. However, many hope that since the inflation rate has lowered recently, interest rates may stabilize in the second half of 2024, helping homebuyers better predict cost. Colorado prices increased year-over-year from 2022 to 2023, and are expected to continue rising in 2024 due to limited inventory. Saving money, improving your credit score, and making a spending plan are all important proactive steps to help make homebuying more affordable.
Competition: A prevalent thought in the real estate industry is that the number of homebuyers will rise in 2024, after many were sidelined in 2023 by the shock of high interest rates. In fact, when rates lowered in Q4 2023, there was a noted increase in mortgage applications. As more people become acclimated to the “new normal,” competition may slightly increase. For this reason, it is important to identify a qualified real estate agent that meets your needs and can help you navigate the upcoming market.
source: houzeo.com
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social media campaign generates over $33,000 for fort morgan nonprofit | |
CHFA had the pleasure of donating $33,255 to Kids at Their Best, a nonprofit organization located in Fort Morgan focused on inspiring, educating, and empowering young people from low-income families to build resilience and strengthen their life trajectory.
The donation came from Like It Forward, CHFA’s annual social media campaign to benefit Colorado nonprofits whose work aligns with CHFA’s mission. From November 27th through December 11th, CHFA shared a series of social media posts that included information about Kids at Their Best and stories of the impact they’ve made in their community. For each like and share these posts received, CHFA donated $5 to Kids at Their Best.
The $33,255 donation is the result of 6,651 likes and shares, and is the highest amount ever raised by the annual fundraiser. The funds will support Kids at Their Best’s programs, which include after-school activities, food programs to provide meals to children and families experiencing food insecurity, and youth leadership development programs.
“We are in awe of how much support we have received from our community and from people all over the state,” said Jodi Walker, Founder and Executive Director of Kids at Their Best. “This has been the most successful fundraising campaign in our organization’s history. It will make a huge difference, and it will help us make a lasting impact in the community.”
Read the news release to learn more.
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Free CHFA webinar
Attend a free, one-hour webinar to learn the steps to homeownership and about CHFA’s homeownership programs.
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Online resources
Learn more about and prepare for homeownership:
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Colorado Housing and Finance Authority
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This eNewsletter may contain links to other websites or third party materials. Links to external or third party websites or materials are provided solely for your convenience. The presence of a link does not imply any endorsement of the third party material, the website, its content or any association with the third party or website's operators by CHFA. Third-party websites or materials may be governed by their own privacy policy and terms of use, and the third party is solely responsible for the content and offerings presented on its website or in its materials. CHFA makes no representation and accepts no responsibility or liability regarding the accuracy, quality, safety, suitability or reliability of any third party material(s), external website or the content or materials of such websites. Use of linked sites is strictly at your own risk. | |
With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable federal, state or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm. | |
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