Winter Park, Colorado is more than a wintertime destination— It’s a place where:
- Natural beauty abounds
- Adventure awaits year-round
- Community and culture thrive
- Heritage is saluted and nature is preserved
- Residents come together for healthy activities
- Families cultivate a life of beauty and contentment
If you are thinking about buying a home in Winter Park, the time is now! Here’s what is happening in the real estate market in this marvelous mountain city this year:
On an Upward Trajectory Despite Low Inventory
A nationwide increase in home sales, and thus a decrease in inventory can seem distressing. However, there are no indications that we will see a crash anytime soon. This is especially true in Colorado, whose population growth has been exponential over the past ten years or so.
Winter Park is taking a ride on an upward trajectory, so if you buy now, you should see an increase in your home’s value over the coming years. With its worldwide fame as the best skiing destination in North America, you can expect this city’s real estate market to remain secure.
Interest Rates Increasing Slightly, But Still At Record Lows
Since the start of 2022, interest rates for a 15-year mortgage have gone up to between 3.5% and 4%. Although they appear to be steadily increasing, they are also still at a historic low. Getting in now would be a good idea!
Inventory is decreasing and interest rates are bound to go up— Get a loan for a home in Winter Park before they bounce back and bite into your bank account.
Additional Lending Fees, But 1031 Exchanges Still Allowed (For Now!)
Effective April 1, new lending fees for second homes and investment properties have been imposed. Don’t let this get you down, though— 1031 exchanges have been saved from execution!
A 1031 exchange is when someone sells a property and reinvests the proceeds in another within a certain timeframe. This allows them to avoid Capital Gains taxes. The government may or may not look into disallowing this again, so it would be best to take advantage of it by reinvesting in Winter Park real estate today!
At Lakota in Winter Park, we still have plenty of homes for sale. We not only provide amazing homes but an abundant lifestyle along with them. Our properties are as diverse as our buyers, so you are sure to find something you love with us. Whether you are looking to purchase a primary home, second residence, or vacation property, Lakota is the place to look!