2022 REAL ESTATE REFLECTION
AFFORDABILITY IS RE-ENTERING THE MARKET WITH LOWER INTEREST RATES, NEW LOAN LIMITS
If you read my newsletter last month, I took a deep dive into the economic environment and outlined market expectations for the coming months. This week was another big week economically and the news was in line with what I predicted: inﬂation continues to drop, and with that, so do mortgage rates.
Did you open your most recent energy bill and gasp? I did. And then I took action. Yesterday, I had Matt from Denver Pro Mechanical over to my house to evaluate our HVAC system. We’ll be doing some duct work to better balance our system and will add Ecobee room sensors to help even out the temperature upstairs and in the basement.
Unfortunately, high energy prices are the norm and they are only expected to climb in the coming years (natural gas rates will increase each year through 2025). More recently, I’ve been hearing about heat pumps, which is an electric heating and cooling system. Matt expects these systems to become standard in the coming years and he is putting together a bid for us now. Given that our bill was $250 higher than the same time last year, switching to heat pumps is something we need to seriously consider, especially because of the enticing rebates and incentives that will be offered beginning Jan. 1.