"Blessed is the season which engages the whole world in a conspiracy of love." -Hamilton Wright Mabie

Hey Everyone,

Welcome to this week’s edition of The Ridgeline Rundown!

Happy Holidays! I hope your Christmas was filled with joy, laughter, and cherished memories!

As we wrap up the holiday season and head into the new year, it's the perfect time to reflect on the past year and look ahead to what's to come. The real estate market is always evolving, and I'm excited to share some insights with you in this week's Ridgeline Rundown.

Speaking of new beginnings, we're taking a look at what's motivating more buyers to choose newly built homes. Is it the modern amenities, the energy efficiency, or something else entirely? Read on to find out!

As always, I'm here as a no-strings-attached resource for any real estate questions, market insights, or local happenings. Enjoy this week's updates, and reach out anytime!

Mortgage Minute

Mortgage rates are influenced by the bond market, which can be unpredictable around holidays. Trader absences and unusual trading activity can cause rate fluctuations. This is evident in the current trend of rising rates despite positive economic data, likely due to holiday-related market dynamics. As a result, average mortgage rates are now around 7.125%, nearing recent highs.

The Insider’s Guide to Real Estate | Tips

What’s Motivating More Buyers To Choose a Newly Built Home?

Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days – and you may find out it’s what you want too.

The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. That’s a significant increase, and is actually the highest percentage in 17 years (see graph below):

To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why new builds gained so much popularity (see graph below):

Avoiding Renovations or Problems with Plumbing or Electricity (42%)

According to buyers, the number one benefit is the peace of mind that comes with getting brand-new everything. Because let’s face it, buying a home right now is pricey. And with inflation also putting a pinch on your wallet, you want to do everything you can to cut down on any additional costs. Enter new builds.

A home that was just built is less likely to have unexpected repairs, and that means less maintenance you’ll need to budget for upfront. Plus, since many builders include warranties on their homes, that’s an added layer of protection for your wallet on some of the home’s major systems.

Ability To Choose and Customize Design Features (27%)

You may also get the chance to personalize parts of the build to your unique tastes. That can be as small as which knobs go on the cabinets and which light fixture goes in the dining room to as big as floor plans and siding color. So, if you’re not finding a home you like, it may be time to build one.

The Amenities of New Home Construction Communities (25%)

Many new developments also offer amenities like parks, pools, fitness centers, and community spaces. These features could help you feel more connected to your neighborhood and can be a great perk for your lifestyle.

Lack of Inventory of Previously Owned Homes (15%)

Since the supply of existing homes (homes that were previously lived in) is still lower than the norm, more people are asking their agents if they can see what builders have available – and builders aren’t disappointing. Right now, new builds make up a larger portion of the homes available for sale than the norm. So, checking out these homes can really open up your pool of options. And don’t worry – builders are not overbuilding. They’re just catching up after years of underbuilding.

Energy Efficiency (14%)

Not to mention, newly built homes usually have the latest energy-efficient materials and technologies. This not only feels good, but can also lead to lower utility bills and a reduced environmental footprint. In a U.S. News Real Estate interview with Kevin Morrow, Senior Program Manager at the National Association of Home Builders (NAHB), this topic came up:

“The more energy-efficient mechanics of the house also help reduce utility bills for new home buyers . . . Newly-constructed homes often include green systems and appliances—like high efficiency stoves, refrigerators, washing machines, water heaters, furnaces, or air conditioning units—that homes built years ago might not.”

Smart Home Features (11%)

And last on this list is the integration of smart technologies. Tech-savvy buyers often want the latest and greatest advancements – and new home construction usually delivers.

The Importance of Using Your Own Agent

Newly built homes are becoming a top pick for buyers these days, and it’s easy to see why. If you’re feeling motivated to see what’s out there, just remember you need to have your own real estate agent.

Builder contracts often have some complex terms and complicated fine print. If you bring your own agent, you’ll have someone to advocate for you, make sure you’re getting quality construction, and guide you through the process from start to finish.

Bottom Line

Imagine skipping the hassle of renovations and having the freedom to pick out the exact design features you want. If this sounds good to you, connect with a local agent to make sure you’ve got an expert on your side to help you negotiate with the builder so you can buy a new home with confidence.

Featured Listing

Colorado Springs Social Scene

Military News and Updates

Children's Hospital Colorado, TriWest remain at odds; TRICARE families will feel impact

A breakdown in contract negotiations between Children’s Hospital Colorado and TriWest Healthcare Alliance has led the nonprofit pediatric hospital system to move to “non-network participating provider” status beginning Jan. 1, according to officials.

Doing so will provide “additional time to work on a sustainable agreement,” said Greg Raymond, president of the hospital network's southern region that's based in Colorado Springs.

Feel free to reach out with any real estate questions—I’m here to help, no matter the state!

Referrals are the biggest compliment, so send anyone my way. Until next time!