QUARTER 4 2023
VOLUME 2
BRAY & COMPANY presents
BRAY QUARTERLY WELCOME It’s the New Year! What a great time for reflection and forward thinking – it's a chance to refocus your efforts into a more directed approach to your goals. First, acknowledge your previous milestones! Appreciation is a powerful motivator and serves as a reminder of the journey you've taken, reinforcing the value of your pursuits. What you’re grateful for aligns with your core values and the overarching vision you hold for yourself or your business.
KAITLIN VANROOSENDAAL REALTOR ®
970.985.8729 Cell 970.242.3647 Office kaitlin@brayandco.com kaitlin.brayandcosearch.com
Consistency is the backbone of success. Start with developing a realistic weekly routine. This routine is the framework upon which your personal and professional goals rest. By breaking down your objectives, you create a roadmap for the year ahead. Ponder what daily tasks help move you to your dream outcome. Your inner motivations are key to maintaining momentum even when challenges arise. This ties into your mindset, the mental attitude that predetermines your responses and interpretations of both business situations and personal situations. A sound marketing plan reflects your business’s objectives and reinforces your brand's presence in the market. Engage in research, seek new knowledge and stay ahead of industry trends. Don’t forget to include wellness into your business plan as a non-negotiable pillar for sustained productivity! Your business plan should accommodate your social goals, acknowledging that personal fulfillment is intertwined with professional success. Time for relaxation and fun maintains the enthusiasm and creativity that fuel your business endeavors. Embarking on this New Year, let these considerations guide your journey. Set forth with clarity, motivation and an allencompassing approach to your business and personal aspirations.
Happy New Year! 970.242.3647 | 1015 N 7th St, Grand Junction | www.brayandcosearch.com
BRAY QUARTERLY
QUARTER 4 2023
QUARTERLY NUMBERS PERCENT CHANGE FROM QUARTER 4 2022
Q4 SOLD
Q4 VOLUME
MEDIAN PRICE
MEDIAN DOM
ACTIVE LISTINGS
MESA County GARFIELD County DELTA County MONTROSE County
MORTGAGE & INTEREST RATES Is now a good time to buy? This question has been included in surveys across the nation and the rapid increase in real estate prices coupled with higher interest rates has created doubt that it is a good time to buy. Last year most economists forecasted lower rates in 2023 and were unfortunately incorrect with their predictions. However real estate prices continued to climb. This stability in prices proved there is an underlying demand for real estate in our market because there are more variables than just the interest rate. Interest rates provided a notable headwind but the limited home supply, strong jobs market and over demand for housing kept the market supported. Low inventory levels of homes for sale will continue to push prices higher. House appreciation typically follows employment. We continue to see higher employment and higher wages which help offset the burden of higher housing costs. Homeownership continues to be part of the American Dream due to the benefits associated with homeownership. Homeownership creates financial security by insulating your finances from rent increases. Homeownership creates a sense of pride and source of community. A recent Fed Survey shows the average net worth of a homeowner was about 38 times that of a renter. (Interest rates for a conventional loan range from 6.89% for a 15-year loan and 7.57% for a 30-year loan according to Freddie Mac's national average. However, the Federal Housing Finance Agency still shows homes appreciating around 6% since Quarter 3 of 2022. Even though these higher housing interest rates do present challenges, they shouldn't deter you from your homeownership dreams. With a strategic approach, including financial preparation, exploring loan options, and taking a closer look and adjusting your budget, you can still achieve your goal of homeownership even in a highinterest-rate environment. Be proactive, stay patient, and remain focused on your longterm financial well-being.) Once again, we find ourselves looking ahead with the promise of lower interest rates, so some have a philosophy that waiting for those lower rates is prudent. However, if rates drop the competition for the limited inventory will likely drive prices even higher. Therefore, if you can afford a home now you likely have more options and better affordability than any time in the last year. There is also hope for those that feel priced out; don’t be discouraged because the forecast for lower rates might bring the homeownership dream back into reach. If you are interested in looking at your options to get a better idea of the finances associated with your next home, please reach out because now is a great time to KNOW if buying a home makes sense for you. Christine Ransier, Loan Officer at Group Mortgage, LLC, NMLS 105759 (970) 964.5011, 1015 N 7th St, Grand Junction, CO
BRAY QUARTERLY
QUARTER 4 2023
COMMERCIAL CORNER Here are some important tax deadlines not to miss!
2023 GRANT RECIPIENTS In November 2023, the Bray Cares Foundation awarded $30,000 to 6 different non-profit organizations for housing-related needs in the Grand Valley.
JANE REED MEMORIAL BLOOD DRIVE
Bray Real Estate proudly hosted its first annual blood drive on December 13, in memory of Jane Reed, our beloved friend. We saw an overwhelming response, with all appointment slots filled. Thank you to everyone who participate! We look forward to making this an annual tradition, continuing to honor Jane's legacy and making a positive impact in our community. It’s never too late to be a lifesaver! Donate Blood today!
Homeward Bound of the Grand Valley: Emergency shelter for individuals experiencing homelessness. Karis Inc.: Bonnie’s House improvements. Mesa County RSVP: Handyman Project to help seniors and disabled persons remain in their home. The Joseph Center: General Assistance Program (G.A.P) Foster Alumni Mentors: Rental and deposit assistance for youth aging out of foster care. Habitat for Humanity: Door for homes for affordable home ownership. WANT TO JOIN? Donations are appreciated and better yet – tax deductible! Choose to donate to the general fund or the endowment. Make checks payable to Bray Cares Foundation/WCCF and in the memo note “Funding” or “Endowment” Mail to: Bray Cares Foundation/WCCF 1015 N 7th Street Grand Junction, CO 81501
WINTER WONDERFUL ACTIVITIES AROUND THE VALLEY
BRAY QUARTERLY
QUARTER 4 2023
KAITLIN VANROOSENDAAL REALTOR ®
970.985.8729 Cell 970.242.3647 Office kaitlin@brayandco.com kaitlin.brayandcosearch.com If your home is currently listed with another broker, this is not a solicitation.
Home Equity & Price Appreciation WHAT IS HOME EQUITY?
WHAT IS HOME PRICE APPRECIATION?
Equity is the current value of your home minus what you still owe on your loan. It goes up when: You pay down your loan Home price appreciation makes your home’s value go up
Home price appreciation is the rate in which your home increases in value over the time you own it. If a home appreciates, the resale value increases, thusly increasing your home equity and increases your home’s potential sale price.
PERCENT CHANGE IN HOME PRICES Since Q1 1991, Q3 2023
SOURCE: FHFA & KEEPING CURRENT MATTERS®