The Cost of Waiting

It’s true, certain parts of our market are cooling off. We are seeing fewer multiple offers, fewer bidding wars, and fewer inspection concessions.
However, homes that are priced right and in great condition are selling, and in many cases, selling quickly.

As buyers feel the market cool a bit, it may cause them to want to wait. They sometimes feel like it’s a better choice to ‘wait and see what happens.’

The reality is, there is a real cost to waiting given two specific facts.

1. Interest rates will continue to rise
2. Prices will continue to rise

Interest rates are a little more than 0.5% higher than a year ago and experts predict them to be another 0.5% higher by this time next year.

Prices have been appreciating at roughly 10% per year for the last four years. Based on the numbers, we see that appreciation could be 5% per year for the next two years.

So, let’s look at a house priced at $450,000 today. If prices go up “only” 5% for the next 12 months, that home will cost $22,500 more in a year.

And, if rates go up another half percent, the monthly payment will be $206 higher. That’s an 11% increase!

In an environment of rising prices and rising rates, there is a real cost to “wait and see.”

Posted on September 7, 2018 at 9:31 am
Fort Collins | Category: Fun Facts, Market News, Northern Colorado Real Estate | Tagged , , , , , , ,

Did You Know?

Did you know the average price appreciation over the long term, according to the Federal Housing Finance Authority (who’s been studying this for 40+ years) is…

·         5.63% per year for Metro Denver

·         5.35% per year for Larimer County

·         4.5% per year for Weld County

If you want to be totally clear on all the stats, facts and trends in Colorado real estate so that you know what the future value of your home looks like, watch this video.

This is a complimentary service for our clients and friends.

Posted on August 17, 2018 at 9:47 am
Fort Collins | Category: Fun Facts, Northern Colorado Real Estate, Real Estate Market Update | Tagged , , , , , , , , , , ,

At Least List

Here’s a stat you’ve heard from us before…

It’s called “At Least List”

It measures how active the market is by tracking the number of single family homes that sell for at least list price.

Because of the demand in our market, many homes sell for list price or higher.

So here’s the latest based on closings so far in the month of July…

The percentage of single family homes selling for at least list price:

  • Fort Collins = 58%
  • Loveland = 67%
  • Windsor = 55%
  • Greeley = 75%

Based on these numbers, homes that are priced right, and positioned right in the market will attain the price the seller wants (or higher).

To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.

 

 

Posted on July 27, 2018 at 8:45 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , , ,

Victorian Style Mountain Home in Drake!

This 2 bedroom, 2 bathroom home at 1486 Palisade Mountain Dr has stunning views of Mt Meeker, Long’s Peak & Storm Mountain from the wrap around covered deck. Featuring 3 fireplaces, stainless steel appliances, claw foot soaking tub, & a lower level family room with a walkout to the spectacular 2 acre property. Matching the exterior of the home are 2 outbuildings with a total of 5 car garage space & a studio, with the addition of a bath could be used as a rental or guest house. Don’t miss this one of a kind home! Contact Rondi duPont for your private showing at 970-401-0123 for more information or click the link below for more details.

http://windermerenoco.com/listing/82133893

Posted on July 26, 2018 at 9:21 am
Fort Collins | Category: Northern Colorado Real Estate, Virtual Tours | Tagged , , , , , , , , , , , , , , , ,

66% Off!

This just in…

For the month of April, the average price of a home in the city of Boulder was $1,247,000. This is according to the latest from our IRES MLS system.

If you want to own a home about an hour down the road in another really nice college town and get a 66% discount, you may want to check out Fort Collins 🙂

Yes, despite the recent uptick in prices here locally, we are still a bargain compared to Boulder. Here are median single-family prices for our markets and their relative price to Boulder:

  • Fort Collins = $414,237 (66.8% off)
  • Loveland = $360,150 (71.1% off)
  • Greeley = $290,000 (76.7% off)
  • Windsor = $306,450 (75.4% off)

Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at colorado@windermere.com and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Posted on May 11, 2018 at 7:30 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , ,

100% Off the Grid Retreat on 35 acres in Loveland!

15354 Big Bear Rd offers amazing views with floor to ceiling wall windows. Knotty-pine cathedral ceilings in living room. Kitchen with breakfast bar and sliding glass door to wrap around deck. Walk out basement with large family room with tile flooring and a wood burning stove. State of the art solar panels with propane generator backup. Great well pumps into cistern with separate pump to home. Locked gate for security. Perfect hunting cabin. Call Kyle Basnar for your private showing at 970-481-5689 or click the link below for more details.

http://windermerenoco.com/listing/78715236

 

Posted on May 4, 2018 at 3:44 pm
Fort Collins | Category: Loveland Real Estate, Northern Colorado Real Estate | Tagged , , , , , , , , , , , , , ,

Under $300,000

If a real estate buyer walks into one of our offices in Northern Colorado and tells us they are looking for a single-family home under $300,000, unfortunately there will not be many properties to choose from. Depending on where they are looking the choices may be very limited.
Here is a list of the number of single-family homes currently for sale (excluding manufactured homes) in Northern Colorado:

  • Fort Collins = 0
  • Loveland = 7
  • Windsor = 0
  • Wellington = 0
  • Timnath = 0
  • Greeley = 27
  • Evans = 8
  • Milliken = 2

If our active market has you thinking about investing in real estate in Northern Colorado. Check this out…

Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at colorado@windermere.com and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Posted on April 27, 2018 at 9:07 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , , , , , , , , , ,

Most Active

Loving young couple looking at dream house.

Here’s a question we sometimes hear…

“What is the most active price range in our market?”

For most of Northern Colorado, the range of $300,000 to $500,000 is far and away the most active (no surprise there). For example, in Fort Collins there are more than three times as many sales in this price range compared to the range of $500,000 to $700,000.

The one exception is Greeley. In Greeley the most active price range is under $300,000. This price range has twice as many sales as the $300,000 to $500,000 range. Why is this true for Greeley and not other places? You guessed it – it’s because the other locations don’t have much inventory under $300,000.

It’s interesting to note that in Fort Collins there are more sales in the $500,000 to $700,000 range than the under $300,000 range. This was not the case even one year ago.

The market is changing right before our eyes.

Posted on April 20, 2018 at 8:35 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , ,

18 Days

Luxury home

We now measure inventory levels in terms of days.

Typically we measure in months. For instance, a “balanced market” is when there is 4 to 6 months of inventory currently for sale. Meaning that, in a balanced market, it would take 4 to 6 months to sell every home that is currently on the market.

Anything less than 4 months is a seller’s market. Certainly, when we measure in days, we are in an extreme seller’s market.

Today the Greeley market has 18 days of inventory, Fort Collins has 27 days, Loveland has 30, and Windsor has 51.

These are all lower than a year ago. For example, Greeley at this time last year had 27 days of inventory.

But this statistic can be misleading. Sometimes people assume that the extreme seller’s market applies to all price ranges and all locations.

Not true. When we drill down we find sub-patterns that are revealing. For example, homes in Loveland priced over $500,000 have 3 months of inventory and homes in Fort Collins over $750,000 have 5 months.

Because inventory levels tend to increase as prices increase, there becomes a distinct advantage for the move-up buyer. Today, many people can sell in an extreme seller’s market and move up to a price range with less competition and more selection.

Posted on April 13, 2018 at 9:20 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , , ,

Vintage Ranch In A Quiet Neighborhood

Featuring 4 Bedrooms, 3 Bathrooms And An Enclosed Porch!

Vintage ranch-style brick home in desirable at the Landings neighborhood. Quiet street. Mature landscaping, fenced backyard, sprinkler system & central air conditioning. Open floor plan with main floor master, bright kitchen & finished basement with wet bar. Basement also has a full bath & 2 bedrooms. Back yard with patio and enclosed porch. Homeowner’s association includes neighborhood pool access. This home is ready for your personal touch!

For more information, please visit: http://windermerenoco.com/listing/76328999 or call Kyle Basnar at (970) 460-3033.

Posted on March 13, 2018 at 10:59 am
Fort Collins | Category: Northern Colorado Real Estate | Tagged , , , , , , , , ,