Average Mortgage Closing Costs Down 7.4% Over Past Year

In welcome news for the housing market, CNN Money recently reported that the average cost of closing on a mortgage has fallen by 7.4% over the past year. As an example, at the end of June, a home buyer in the United States looking to close on a $200,000 mortgage with 20% down paid an average of $3,754. That’s $300 less than 12 months earlier. Apparently, the decline can be attributed to new federal regulations, which require lenders to be more accurate when estimating closing costs for borrowers. Read the rest of the CNN Money article

Turning to mortgage news in Colorado, Bankrate.com conducted a nationwide survey in 2012 of mortgage closing costs. Looking at every state in the country, Bankrate.com found that Colorado had the third lowest average closing costs for home mortgages. Based once again on a $200,000 mortgage with 20% down, Colorado closing costs were generally $555 less than the national average, coming in at $3,199. Great news for anyone buying a home in our state!

If you’re interested in potentially getting into the Summit County real estate market, this is a great time to find bargains in homes that have been on the market all summer but haven’t quite sold yet. Please don’t hesitate to contact Philip with your questions.

Summit County Listings With Price Drops in Last 4 Days

(Arranged below by newest listing first)

MLS# S1004365
For Sale
435 Mountain View Dr
Blueriver, CO 80424
1,200 Sqft | 3 BR | 2 BA | Residential
Complete New interior remodel - spacious open floor plan with master bedroom loft area with private second bath - plus office area! Boasting cathedral ceilings-Large picture windows, with sunshine galore. . . views of Red mountain! Th (more...)
Breckenridge Associates R.e.
MLS# S1004074
For Sale
135 Dercum Dr , Unit 8621
Keystone, CO 80435
565 Sqft | 1 BR | 1 BA | Residential
Beautifully updated 1-bedroom condominium in River Run. Rated premier on Keystone's rental program, with gross rentals over $30,000 in 2016. Fabulous views of the ski area and ice skating rink, watch the fireworks from your deck. Buildin (more...)
Slifer Smith & Frampton R.e.
MLS# S1004064
For Sale
100 Cove Blvd , Unit C
Dillon, CO 80424
1,013 Sqft | 2 BR | 1.5 BA | Residential
Adorable condominium in the heart of Summit County. Lives like a townhome with 2 well-maintained levels, 2 bedrooms, 1 bath, half bath and 1013 and / - sq. ft. Minutes to Keystone and Arapahoe Basin, and a short drive to Breckenridge a (more...)
Slifer Smith & Frampton R.e.
MLS# S1003919
For Sale
27 Sheppard Cir
Breckenridge, CO 80424
2,959 Sqft | 4 BR | 4 BA | Residential
This is a Rockridge Building Co. custom built home. Custom finishes, in-floor radiant heat, built-in shelves in closets, 1 thick wood siding, beautiful deck with custom iron gate, and gorgeous landscaping. The plans were modified to cr (more...)
Liv Sotheby's I.r.
MLS# S1003844
For Sale
2300 Lodge Pole Cir , Unit 203
Silverthorne, CO 80498
758 Sqft | 2 BR | 1 BA | Residential
VACANT AND EASY TO SHOW! Brand new granite kitchen counters and remodeled bath. Appliances and carpet updated in 2016. Tenants were paying $2,000 / mo for a 12 month lease which just ended. Treehouse is a cost effective HOA as the month (more...)
Colorado R.e.-ned Walley
MLS# S1003681
For Sale
23110 Hwy 6 , Unit 5098
Keystone, CO 80435
2,127 Sqft | 3 BR | 3 BA | Residential
Beautiful top floor condo with 3BD and Loft / 3BA. Open floor plan and extra living area. Tastefully furnished with vaulted ceilings and gas fireplace in living area with floor to ceiling windows. Great rental or 2nd family home without (more...)
Cornerstone Real Estate Co.
MLS# S1003661
For Sale
605 Two Cabins Dr
Silverthorne, CO 80498
6,350 Sqft | 6 BR | 5.5 BA | Residential
Amazing structure and finish. home theatre, formal wine cellar, game room, gourmet kitchen with sub zero fridge / freezer, dacor range, 2 islands with dishwashers and vegetable sink. incredible wood floors throughout. main floor and uppe (more...)
RE/MAX Alliance-aurora
MLS# S1003575
For Sale
265 Illinois Gulch Rd , Unit 1
Breckenridge, CO 80424
1,504 Sqft | 3 BR | 2 BA | Residential
This is a beautifully updated and decorated town home not far from down-town Breck! This is an end unit with great views and is the only unit with a private hot tub room and it's a large one! Three BR and loft will sleep 10 people with th (more...)
Equity Colorado-mtn Properties
MLS# S1003251
For Sale
27 Royal Dr
Blueriver, CO 80424
2,664 Sqft | 3 BR | 3 BA | Residential
Soaring ceilings highlight this very open totally redone home in The Royal. It has new wood flooring, carpet, drywall, kitchen cabinets, some new windows. It has a special great room with a super woodstove. There is a unique solar wall (more...)
RE/MAX Properties/69
MLS# S1003079
For Sale
200 W Buffalo St
Dillon, CO 80435
3,796 Sqft | 4 BR | 4 BA | Residential
Great in-town location for this single family home with legal lock-off apartment on a large 0. 67 acre lot. Main house has 3 bedrooms, 3 baths and den / 2nd living area and a 2 car garage. Open living / kitchen / dining with gas firepla (more...)
RE/MAX Properties/66
Property listing data provided by Summit County multiple listing service. Information last updated: April 25, 2017. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. The sale offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. Listing Data last updated: April 25, 2017 Service by My Buying Buddy IDX/CRM
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