A few months ago, I wrote about having moved from a market of “Irrational Exuberance” to what I’m calling the new market of “Rational Apathy”. Today, reading Amy Hoak at The Denver Post offered another example of the desire people have to stop being slaves to their shelter.

“A growing number of homeowners are choosing to pay down their mortgages at a faster rate–even if it means a substantial jump in their monthly payments.

Between January and June, 26% of homeowners who refinanced chose a 15-year fixed-rate mortgage, according to data from CoreLogic, a provider of financial, property and consumer information. During all of 2009, 18.5% of borrowers who refinanced opted for a 15-year term.”

I am routinely experiencing buyer’s in this market place intent on spending less than they can afford and endeavoring toward a plan of speedy payoff. The question remains, what does this mean in the market?

We are clearly seeing some stability and even pockets of appreciation in the under $400,000 price range. On the other hand, we are seeing the top end continue its negative spiral. In fact, short sales have become common place over $600,000 at this point in time.

The long term trend for Denver is still cloudy, but I believe we can learn from these national trends. “Keeping up the Jones'”, may not be the be all end all is was just a few years ago. Isn’t it a shame we can see so easily into the past, but the view is so clouded as we look into the future?