New Boulder Creek Neighborhoods' Model Grand Opening Is This
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REAL ESTATE Real Estate News, Open Home Listings, Homes for Sale, Rentals and More! atHomeColorado Home & Real Estate | AtHomeColorado.com New Boulder Creek Neighborhoods’ Model Grand Opening is This Weekend at Rogers Farm in Superior Quick Guide and Coronavirus and Mortgage Design Recipes: 10 Fresh Ways Featured Open Homes Rates: To Lock or Not? to Bring in Spring Colors Looking for a home? View comprehensive In recent months, there has been downward pressure Spring is almost upon us. It’s time to liven up your listings of local open houses taking place on mortgage rates, making the question of locking the space with fresh spring color. Here are some top this weekend from all across the area. interest rate a more relevant conversation. color trends for the season. March 6-7, 2020 ATHOMECOLORADO.COM 1 REALTOR FOR LIFE atHome Coronavirus and mortgage rates… COLORADO HOME AND REAL ESTATE To lock or not? That is the question! CONTRIBUTING WRITERS The odds that deadline. Knowing the deadline Duane Duggan mortgage helps structure a contract with interest rates dates for conditions and final Carol O’Meara might go down closing to happen before the lock Sharon Bokan because of the expires with a closing date that Tom Kalinski coronavirus falls within the deadline. In some Gary M. Singer crisis are pretty market conditions, lenders have Rick Jacquemard high. Yet rates even been known to offer “lock Diana Crandall are already at and shop.” This is a situation an historic low, Sarah Huber BY DUANE where the lender will lock in your so how low can DUGGAN loan rate even before writing a Lori Borgman they go? Over Realtor and Author contract. Cathy Hobbs the last several RE/MAX of Boulder Locks can also be a major Katie Laughridge years we have consideration in new construction. Ed Del Grande enjoyed record-low mortgage rates If you have a dirt start on a home, that have been predominantly that could mean you may not be stable. During stable periods, the closing for six to eight months. It ADVERTISING CONSULTANTS question as to whether to lock the Thais Hafer interest rate while under contract is hard to say what could happen Toni McNeill on a home is not as critical as to interest rates in that timeframe. when there are times of rising or Most builder contracts say that Mary Romano you will close on the home at falling interest rates. In recent months, there has been downward whatever the market rate of ADVERTISING FEATURES pressure on rates, making the interest is. In order to protect COORDINATOR question of locking the interest yourself, it would be a good idea Greg Stone rate a more relevant conversation. to check with the lender to see To lock or not to lock, that what the expense of a long-term is the buyer’s choice. However, The odds that mortgage interest rates lock would be. Market conditions At Home is an Advertising buyers need to understand that might go down because of the will dictate pricing for long-term Supplement published by the this requires a commitment from coronavirus crisis are pretty high. locks. An alternative could be Boulder Daily Camera and both themselves and the mortgage to “float” with the interest rate Longmont Times-Call. lender to close at the agreed upon Over my 40-year career, I have market. Instead of paying the lock found that in general, interest ©2019 Prairie Mountain Media. interest rate. fee in advance, you could save that The scenario goes like this. rates tend to go down slowly, money to buy the rate down at One day you write a contract on but rise quickly. I can remember time of closing. Of course, market in the 1980s, almost every day I ADVERTISE a home knowing you can afford conditions will dictate whether it at a certain interest rate. Then went into work, the interest rate To advertise in At Home or to or not this turns out to be a good while you are waiting to close, pushed higher, soaring to 16% for idea. promote your open house visit the interest rate increases, and mortgages. With that experience AtHomeColorado.com/Advertise, To lock or not? Hopefully, this you can no longer afford the in mind, it is usually best to lock information will help you make call Thais Hafer at 303.473.1456 monthly payment. Locking the in a rate if the general trend is that decision. Be sure to consult or Toni McNeill at 303.684.5329. interest rate with the lender would upwards. There is a greater chance your mortgage lender and any have prevented this unfortunate of rates going up 1% in a day other advisors in order to make SEND US YOUR NEWS circumstance. than going down 1% in a day. If an informed decision based on At Home welcomes news tips and First of all, what is a “lock”? A you’re happy with the interest rate current market conditions. articles on local real estate and the rate lock is a commitment from the day you write a contract on a home including expert advice, home, lock it in so you and all the a lender to fix your interest rate Duane Duggan has been a upcoming events, Realtor others involved in the transaction between time of contract and Realtor for RE/MAX of Boulder achievements, community closing, even if rates go up. It can sleep at night. in Colorado since 1982 and has involvement and more. Submit is important to remember that Market conditions dictate the information and articles to: a “lock is a lock.” It is also a type and pricing of rate locks facilitated over 2,500 transactions [email protected] commitment from the buyer to that lenders may offer. Sometimes over his career, the vast majority or [email protected] close on the terms of the lock. a 30-day or even a 60-day rate from repeat and referred clients. Even if interest rates go down, you lock might be “free.” Extended He has been awarded two of the are locked in and committed to locks usually come with a price highest honors bestowed by SIGN UP FOR OUR close as agreed upon. tag. Make sure you communicate RE/MAX International: The E-NEWSLETTER AT The mortgage lender might with your lender to make sure you Lifetime Achievement Award and ATHOMECOLORADO.COM suggest that the buyer should have a full understanding of how the Circle of Legends Award. “float” rather than lock. This it works. It would also be good Living the life of a Realtor and being immersed in real estate FACEBOOK.COM/ means that in the lender’s opinion, to ask the lender what happens if ATHOMECOLORADO there could be an event in the next there is a delay in closing. There led to the inception of his book, few days or weeks that may cause might be a possibility to extend Realtor for Life. For questions, rates to go lower. Then you could the lock, but lock extensions e-mail [email protected], make a decision to lock at a later usually involve a fee. call 303.441.5611 or visit ATHOMECOLORADO.COM time instead. All interest rate locks have a boulderco.com. 2 AT HOME COLORADO DAILY CAMERA / TIMES-CALL CONTRACT UNDER 705 Hover Street 9432 Memory Lane $675,000 $450,000 MTN VIEWS &1.35 ACRES in LONGMONT! Enjoythe Beauty &Tranquility of Meadow Green Farm! +NICE 2607 sq. ft. ranch style home, 4bedrms, 3baths AND 1600 sq. ft. Bring Your Own Builder To This Beautiful 4.61 acreEstate Lot! garage/shop w/hoist, evap cooler &2wood stoves+14x22 outbldg, Developer’sLast Lot. Gated LakeCommunity. greenhouse &fruit cellar.Irrigation Water Included. Horse Boarding Facilities nearby. If Youare Buying or Selling aHome, Let Diane’s31Years of Local Experience Help YouReach Your Goal. Call Today! Interests Rates AreGreat! Diane Stow ABR, CRS, GRI, SRES, CNE TO SEE ALL OF DIANE’S LISTINGS Experience Isn’t Expensive... 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I’ll be sharing it with three the class is $25; register online trying to bloom colleagues who look at using and at csuextension-gardening-series. in a friend’s conserving our land from different eventbrite.com. yard, despite perspectives. For more information on Small frigid days and Sharon Bokan, our Small Acreage, wildlife or pasture snow squalls. Acreage Coordinator, is a wealth management, visit Bokan’s page She’s enchanted of information on bigger areas, at boulder.extension.colostate. by the little homesteading topics, small edu/natural-resources-wildlife- plant’s effort livestock and wildlife. Deryn rural-properties-pasture. You’ll and, like any Davidson is our Horticulture find a wealth of information on gardener at this BY CAROL O’MEARA Agent with a talent for Landscape issues related to managing small time of year, Architecture, pollinator issues, and acreage, plus preparing for or Colorado State is watching its University Extension Many gardeners are pouncing on native plants.