Bray Quarterly Newsletter - Kaitlin VanRoosendaal, Quarter 3, 2023

QUARTER 3 2023

VOLUME 1

BRAY & COMPANY presents

BRAY QUARTERLY WELCOME We are thrilled to welcome you to the inaugural volume of our Real Estate Newsletter.

In each issue, you can expect up-to-date market trends comprised of all the latest numbers such as property sales, unemployment, median prices and interest rates. You can also discover what’s happening around the valley, and at Bray & Company!

Our newsletter is more than a source of information; it's your trusted companion on your real estate journey. With each edition, we aim to provide you with the tools and insights necessary to navigate the diverse and ever-evolving world of real estate.

Whether you're a seasoned investor, a first-time homebuyer, or simply someone intrigued by the market, we've designed this newsletter just for you - filled with opportunities, insights and valuable information.

KAITLIN VANROOSENDAAL

REALTOR ® 970.985.8729 Cell 970.242.3647 Office kaitlin@brayandco.com kaitlin.brayandcosearch.com

Here's to your future in real estate!

MESA COUNTY LABOR AND WORKFORCE According to the Bureau of Labor and Statistics, Mesa County and Grand Junction have seen an increase in the unemployment rate – 3.7% – in August which is up 0.7% from August 2022, and 1.0% higher than April of 2023. Grand Junction’s unemployment rate sites 0.2% lower than the U.S. unemployment rate, but 0.2% higher than the Colorado rate.

970-242-3647 | 1015 N 7th St, Grand Junction | www.brayandcosearch.com

BRAY QUARTERLY

QUARTER 3 2023

QUARTERLY NUMBERS PERCENT CHANGE FROM QUARTER 2 2022

Q3 SOLD

Q3 VOLUME

MEDIAN PRICE

MEDIAN DOM

ACTIVE LISTINGS

MESA County GARFIELD County DELTA County MONTROSE County

HOW A RENTAL PROPERTY INVESTMENT CAN PAY FOR EDUCATION As the school year flies by again, you’re probably dealing with the looming reality of college costs. They’re high - and rising - making it a challenge to afford a higher education. At a minimum, you can expect to pay $15,000 per year for in-state college tuition, books, room and board included. With a annual 5% increase, the costs cangrow to $95,721 in 5 years, $122,167 in 10, and a whopping $155,919 in 15 years.

Buying a rental property with a 15-year loan and 20% down payment can create a secure pathway to cover future college costs. The equity of the property increases exponentially over time, potentially reaching $311,839 after 15 years with a 5% annual appreciation.

By investing in a property now, you can create a stream of passive income that can help cover the high costs of tuition, room and board, and other college-related expenses. Even if your child is already in college, buying an investment property now can help reduce living expenses if your child lives there with roommates to help pay the rent.

Of course, buying a rental property isn't for everyone. It requires a significant upfront investment and ongoing maintenance and management. However, for those who are willing to put in the effort, it can be a great way to create financial security and provide for the future. The return on investment from purchasing a rental property today could offer your family financial stability amid the ever-widening economic disparities and continuously spiraling college costs. This school year, don't push the worry down the line. After all, they say the best time to plant a tree was 20 years ago; the second-best time is now.

BRAY QUARTERLY

QUARTER 3 2023

COMMERCIAL CORNER

MORTGAGE & INTEREST RATES 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,

COSTCO CONFIRMED It’s official! Costco is coming to Grand Junction.

No longer a rumor, Costco is expected to open in 2026, bringing upwards of 275 jobs to Grand Junction and the surrounding area. According to the city, Costco will add more than $64 million dollars in sales and property tax revenue over a 20-year period in Mesa County.

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 high-interest-rate environment. Be proactive, stay patient, and remain focused on your long-term financial well-being.

BEAUTI-FALL ACTIVITIES AROUND THE VALLEY Pumpkin Patch: Studt Farms: September 30 – October 29, 2023 Local Pie Place: Home Style Bakery and Bee Sweet Cafe & Bakeshop Apple Picking: Fruit Basket Orchards Candle Making: Candle Kitchen GJ Painting: The Palette

UPCOMING EVENTS

Glade Park Craft and Vendor Fair: November 4 Tree Lighting: November 18, 2023, 5:00 pm / 7:00 pm Parade of Lights: December 2, 5:00 pm Chocolate Walk: December 8, 5:30 pm Candy Cane Hunt: December 9, 10 am Santa Cause 1k/5k Run: December 9, 10:15 am

BRAY QUARTERLY

QUARTER 3 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.

THANK YOU FOR VOTING US BEST OF THE WEST

Fall Maintenance Checklist

Prep your home for Winter with this Fall Checklist!

INTERIOR:

EXTERIOR:

Replace screens with storm windows Service heating system Flush water heater to remove sediment Change batteries in smoke and carbon monoxide detectors Change your ceiling fans move clockwise to create an updraft that forces hot air to circulate throughout the room Change furnace air filter Inspect fireplace, hire a chimney sweep Drain swamp cooler lines and shut-off water valve

Rake leaves, clear flower beds Fertilize lawn, sow grass seed if needed Clean out gutters, drains, and downspouts Detach garden hoses, drain, store out of the weather Blow out sprinkler systems Trim tree branches away from roof and gutters Install weather stripping and caulk as needed on windows and doors Prune and trim trees and shrubs and remove debris Sharpen lawn mower blades, drain gas Clean, sharpen & store garden tools