The housing market is remarkably tight across the U.S., and you may be wondering if you should wait for home prices to slow before making your move. Windermere’s Chief Economist, Matthew Gardner, shares why waiting could end up costing you more money in the long run.
For Immediate Release
Denver, COLO. (December 8, 2016) – Windermere Real Estate has just opened a new office in one of the fastest growing communities in Metro Denver. The new Aurora location, which is located in the Southlands shopping center, joins Windermere locations in Fort Collins, Centennial, and Denver. Windermere opened its first office in Colorado just two years ago and has plans to continue growing across the state over the next few years.
“We are very excited about our recent expansion into Southeast Aurora; the city is growing by leaps and bounds and we are happy to be part of this exciting growth,” said Vincent Grandi, co-owner and managing broker of the Windermere Aurora office. “One industry that has lacked a presence in the area is real estate, forcing many home buyers and sellers to search outside the area for a real estate agent. We are proud to now provide a local neighborhood office with experienced and knowledgeable agents who live and work in Aurora and have extensive knowledge of all that the city has to offer,” said Grandi who co-owns the Windermere Metro Denver and Aurora locations along with (insert all the owner’s names).
Grandi added that one of the best advantages of living and working in the city of Aurora is the vast diversity of its residents, “Aurora is a melting pot of many immigrants that have chosen to come from all over the globe to live and work. We’re proud to be part of this community and look forward to providing the best real estate experience to the residents of Aurora,” he said.
The office features a hip, fresh atmosphere, effective spaces for agent training and client meetings, and a rooftop deck.
“This location fits our strategy to serve home buyers and sellers all across the Front Range,” said Eric Thompson President of Windermere Real Estate in Colorado. “We are thrilled with the team at Windermere Metro Denver and their ability to offer an exceptional experience to both their agents and their customers. I’m excited to watch Windermere grow in Aurora.”
About Windermere Colorado:
Since its inception in 1972, Windermere Real Estate has grown to be a network of 300 offices with more than 6,000 agents by focusing on three basic principles: hire the best people, give them the best tools and create thriving communities. Windermere’s growth has allowed them to expand into the Colorado market led by Eric Thompson, President of Windermere Colorado. For more information, visit www.windermerecolorado.com.
About Windermere Real Estate
Windermere Real Estate is ranked the largest regional real estate company in the Western U.S. with over 300 offices and 6,000 agents serving communities in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Mexico. Last year, Windermere closed over 86,000 home sales for more than $31.7 billion in dollar volume. The Windermere family has a proud heritage of serving our neighbors via the Windermere Foundation, which funds services for low-income and homeless families. Since 1989, the Windermere Foundation has contributed more than 32 million dollars towards improving lives in the communities where we live and work. For more information, visit www.windermere.com.
With fall right around the corner many of us will be trekking up to Estes Park to see the Aspen leaves turning.
As you drive through Estes you may wonder “how’s the mountain market?”
Here are some fun facts about real estate in Estes Park.
- The average price today is $394,046 – not that different than Fort Collins.
- Average prices have gone up $60,000 in the last three years.
- Their market has about 300 sales per year- roughly a tenth of the amount in Fort Collins.
- If you were looking for a home in Estes between $300,000 and $500,000, you would have 15 to choose from.
Now you know about the Mountain Market!
After a very active (to say the least) spring and summer, the door has now opened for buyers in our market.
Buyers who were frustrated during the first half of the year with low inventory and bidding wars now realize a better environment. It’s time to step off the sidelines and take a fresh look at what the market has to offer.
The first piece of good news is that rates have dropped to near all-time lows. Rates today are 0.6% lower than they were on January 1st. What this means on a $400,000 home with a conventional loan is a monthly savings of $110!
The second piece of good news is that inventory levels are coming up. There are more homes on the market to pick from and lower demand because of seasonal slowing. Months of inventory in Larimer County markets have bounced up 20% to 33%.
August marks the end of the busy real estate selling season and the beginning of the traditional seasonal slowdown in our market.
The four months of April, May, June and July tend to produce 45% of the year's total sales. This is based on looking back at 5 years of data.
If 2016 holds true to form, the next five months from now until the end of the year will be progressively slower.
No surprise that December tends to be the slowest month with a third of the number of sales compared to a typical July.
Here's what we will be watching closely over the next few months – is this year's seasonal slowdown "normal", or, because the market has been so hot this year, is it breaking traditional trends.
We will be sure to keep you informed!
Are you on the fence about buying a new home? Rates are at an all-time low and just dropped to 3.41%! Time is running out though, history shows that rates will have to increase to keep the economy going strong.
Check out the link to read more. http://finance.yahoo.com/news/people-refinancing-mortgages-crazy-000000183.html
Our market is under-supplied. Plain and simple. There is a 1 to 2-month supply of homes across Northern Colorado. A balanced market would have 6 months.
Builders are faced with high land costs, high materials cost, high labor costs, high permitting costs and high water costs. It’s pretty much impossible, in most parts of our market, to deliver a new home under $400,000.
So, condominiums to the rescue right? Not so fast. Because of onerous construction defect laws, developers do not want to build multi-family, for sale product. It’s too risky. They’d rather build apartments.
Our market is under-supplied. Plain and simple.
This is really good news if you are a seller who wants to move up. This is especially good news if you are a seller of a condominium.
Contact us to find out what our under-supplied market has done to the value of your home. We’ll put together an Equity Snapshot which will show you, in detail, what your home is worth in today’s market. It’s valuable information to have whether you are thinking of selling or not. Just call 970-460-3033 or e-mail us at firstname.lastname@example.org.
When it comes to real estate, many say that Fort Collins is the “next Boulder.”
The Fort Collins average price is less than half of Boulder’s ($355,000 versus $890,000)
Fort Collins has 4 times as many transactions (1,108 versus 251)
Fort Collins has 4 times as many homes for sale (715 versus 175)
Homes in Boulder sell 25% faster (62 days versus 82 days)
*These numbers come from IRES and are through May 2016.