Just for all the fence-sitters: Get off the fence if you want to buy property, and make money. The market here in Metro Denver is approaching a low point. The interest rates are wonderful - around 6% for 30 year fixed loan. All the indicators I have studied would point to a slow upward turn in prices in about in 18-24 months.
Especially if you are wanting to move up - this is the Perfect market. You will take a small hit on the current house---but gain a lot more on the hit the bigger/more expensive home seller takes.
On the same note - there are many good income properties at bargain rates. The vacancy rates are low in the Denver market so what else are you waiting for?
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