Dear Dave,
We’re getting ready to sell our house but know the market is shifting. Someone suggested offering "concessions" to make our listing more attractive. What are concessions exactly, and when does it make sense to offer them?
—Pat & Simone, Grand Junction

Dear Pat & Simone,
Great question—concessions are becoming more common these days, especially as more homes are for sale and buyers get more picky. Before you launch your listing next year, understanding concessions will give you some useful tools to close a deal on favorable terms.
Here’s what you should know, and how to use that knowledge wisely.

What are Concessions?
Concessions are incentives that a seller offers to help sweeten a deal for buyers.
These might include:

Paying some or all of the buyer’s closing costs
Covering repairs (or offering credits in their place)
Lowering the sale price in some way to account for things buyers will have to fix or ...

Dear Dave,
We’ve been following the news that the Federal Reserve may cut interest rates this month. We’re hoping this will mean lower mortgage rates, but we’re not sure how closely the two are connected. If the Fed cuts rates, does that mean mortgage rates will fall too?
– Jessica - Grand Junction

Dear Jessica,
This is a terrific question and very timely! With all the headlines about what the Federal Reserve is doing, it’s natural to assume that mortgage rates will move in lockstep. But the truth is a bit more nuanced. Let’s break it down.
First, the Federal Reserve controls what’s called the Federal Funds Rate. That’s the short-term rate banks charge one another to borrow money overnight. It’s important to understand that this rate is not the same as a mortgage rate. While the Fed’s moves influence borrowing costs throughout the economy, mortgage rates are also shaped by bigger, long-term factors like inflation ex ...

Dear Dave,
We’ve been watching the real estate market and hearing a lot about things “shifting.” We aren’t sure what all that means, and want to know: as homeowners, what should we be keeping an eye on if the market is changing? What moves should we be thinking about now so we’re in a good spot whether we stay or sell later?
—Linda & Marco, Grand Junction

Dear Linda & Marco,
Ah, the “shifting market.” Those words can cause a little worry, but here’s the truth: shifts happen all the time in real estate and now is no different. If you understand what’s going on and plan ahead, you can actually use the changes to your advantage. Let’s look at three key things homeowners should keep in mind right now.

1. More Homes on the Market = More Choices for Buyers
For the last few years, sellers have held the power—homes sold fast, often with multiple offers. But today, the number of homes fo ...

Dave -
I have about 180K that I am wanting to invest in a rental property. I was all set to find my property and my realtor suggested that instead of buying the property with cash, that I use that money to buy several properties which I would have smaller mortgages on.  I really don’t like the idea of taking on any mortgages but I want to make the most of my money. What is your advice?
Jarred, Grand Junction

Jarred,
Great question! I will start by applauding you, looking to purchase investment properties right now to diversify your investment portfolio is a great idea!
To assess which is the best route for you and your family, you must determine what your long term goals are and how much risk you are comfortable with. I do not believe there is a right way and a wrong way to purchase investment properties, just different ways. There are two ways to look at the purchase of your properties and that is either to purchase with cash, which is the route that presents the ...

Dear Dave,
We’re getting started house-hunting and can’t seem to agree on one big decision. I’m drawn to the idea of buying a new construction home, but my husband insists they’re more expensive than resale homes and says, “They just don’t build them like they used to.” Can you help settle this debate?
—Ashley & Marcus, Grand Junction

Dear Ashley & Marcus,
You’re not the only ones having this conversation. Many buyers weigh the pros and cons of new builds versus existing homes. And while there are good reasons to consider both, a lot of what people think they know about new construction is based on outdated or incomplete information.
Here are some of the most common myths about newly built homes that I come across—and some facts that might change the way you look at them.

Myth #1: “They cost way more than existing homes.”
It’s true that the sticker price of a new build can sometimes be ...