"An investment in knowledge pays the best interest.” - Benjamin Franklin

Hey Everyone,

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

Ready to own your slice of the mountain? This week, we're tackling the exciting world of first-time home buying! We'll equip you with the knowledge and strategies to navigate the market with confidence, from finding the perfect property to securing a great deal.

Plus, get ready to shred some powder! We're featuring Ski Maxx, an amazing indoor skiing and snowboarding facility that brings the thrill of the slopes to you year-round. Discover all the fun and excitement they have to offer.

As always, I'm here as your trusted real estate advisor. Whether you have questions about buying, selling, or just want to chat about the local market, don't hesitate to reach out!

Mortgage Minute

Powell testified today, but don't blame him for any rate changes. Bond prices dipped overnight (mostly because European bonds tanked), pushing mortgage rates up a bit. Powell's words didn't really factor in. Bigger news comes tomorrow with the CPI report. Rates could jump or fall depending on what it shows, or they might not move much at all. Basically, be ready for some potential market craziness.

The Insider’s Guide to Real Estate | Tips

Breaking Into the Market: Smart Moves for First-Time Buyers

If you’re like a lot of aspiring homebuyers, there’s a major hurdle standing in your way — the cost of living. From groceries to gas, eggs, and just about everything else, prices have gone up. And that rings true for home prices, too.

But even when everything feels expensive, there are still ways to make homeownership more than an item on your wish list. You may just need to think about where you plan to buy a bit differently.

Think of Your First Home as a Stepping Stone

One of the biggest misconceptions among buyers is that their first home has to be their forever home – or that it has to check all the boxes of what they want right out of the gate. In reality, it’s just a starting point.

Once you own a home, you start to build equity, which grows over time as home prices rise. Down the road, if you want to move — whether to a larger space, a better location, or both — the equity you’ve gained can help you do just that.

So rather than waiting until you can afford your dream home in your ideal neighborhood, consider starting with something that works for now.

Expand Your Search To Find More Affordable Options

If high home prices in your favorite area are holding you back, it’s time to cast a wider net. By keeping an open mind and being flexible with location, you may be surprised at what’s possible within your budget. Many buyers find success by looking in surrounding areas – and some even choose to move out of state.

According to a report from Realtor.com, these are some of the best markets for first-time homebuyers this year (see chart below):

Of course, moving to a different state isn’t for everyone – and isn’t a necessity. The right agent can help you find more cost-effective options wherever you are.

If you want to stay local, looking just outside your preferred neighborhood could help you find something you can afford that’s still pretty close to your favorite restaurants, shops, and activities. Sometimes, moving as little as 10 minutes away makes a big difference.

And the best way to see what’s available is to work with a real estate agent who understands the local market and can help you identify hidden gems nearby. An agent can point you to communities you may not have considered that have lower price tags now and are steadily gaining value and appeal. That way you can buy your first home and be set up to gain equity through the years.

Bottom Line

Today’s cost of living is a challenge for many homebuyers. But by exploring different areas and working with a knowledgeable agent, you can take that first step toward owning a home — and building equity for your future.

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Colorado Springs Social Scene

Military News and Updates

Honor Bell Foundation calls for nominations to honor 12 veterans

When a new Honor Bell tolls in Pikes Peak National Cemetery during funerals, the mementos of local veterans will help enrich its ring.

The Honor Bell Foundation is putting out a call for metal artifacts from outstanding local veterans so they can be honored as part of the casting of a new bell that will be dedicated to this area.

"We are hoping we will get a number of different submissions from the different services, the different periods of our military history and be able to include them into our bell," said Larry Peterson, an Honor Bell guard and board member for the Foundation. The deadline to submit a nomination is Feb. 14

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!