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Did You Know?
Here are some fun “Did You Know?” stats as we wrap up 2016 (arguably one of the most fascinating years in the history of Northern Colorado Real Estate)
‘Tis the season to give!
Please consider giving a gift that counts this season.
Donate to help those in need in Colorado. Just click the link below… ALL donations will go to one of three organizations in Colorado that benefit low-income and homeless children and families.
Merry Christmas! #TackleHomelessness
To donate, just click here to go to our secure donation site: https://store.windermere.com/content/colorado-tacklehomelessness-donation
How Interest Rates Impact Your Buying Power
Know your risk. How will your buying power be impacted with increased interest rates?
Check out this infographic for an understanding of how much interest rates affect how much home you can afford.
Source: www.simplifyingthemarket.com Read the full article here: http://www.simplifyingthemarket.com/en/2016/12/16/the-impact-your-interest-rate-has-on-your-buying-power-infographic/?a=79696-9675764dc3b9cb63398c8d3c043b0717
Multi-Wow
Check out what’s happening in the multi-family market in Fort Collins.
100K
The City Manager for Fort Collins, Darin Atteberry, recently visited our weekly sales meeting. He had several interesting and valuable facts to share, including this…
Based on the City’s research, Fort Collins will grow by 100,000 people over the next 25 to 32 years. That will bring the population to approximately 255,000 people. It means Fort Collins will essentially add the equivalent of Boulder’s population over the next two and a half decades.
Can We GIVE More on ThanksGIVING?
During this week of the year, most are focused on being grateful. Grateful for their homes, health, family, jobs, and everything amazing in their lives. But what of those who have no home? They’ve lost their family, jobs or their health?
Windermere Real Estate is dedicated to helping those in need. We accomplish this through the Windermere Foundation, which has successfully raised over 30 million dollars for organizations that benefit low income and homeless children and families.
In the spirit of being grateful and giving, please consider helping us #TackleHomelessness this season by donating to a local organization through our foundation. All donations are fully tax deductible. Just click the link here: https://store.windermere.com/content/colorado-tacklehomelessness-donation
Happy ThanksGIVING!
The Trump Tantrum
Since the election interest rates have jumped from 3.77% to 3.95% according to the Mortgage Bankers Association.
“This week’s increase in mortgage rates, being dubbed the ‘Trump Tantrum,’ is the biggest one week increase since the ‘Taper Tantrum‘ in June 2013,” said Bankrate’s chief financial analyst Greg McBride.
Economists say the anticipation of Trump’s pledged spending plans and tax cuts have investors anticipating some inflation and a dose of adrenaline to the economy which have caused a great deal of volatility in the market.
A little perspective is in order- rates today are still lower than the 3.97% recorded last year at this time. And, rates today are still essentially half of their long-term average.
Using a $400,000 home as an example with a 20% down payment, this interest rate increase translates to an additional $34 per month.
Many economists believe that we are now seeing the beginning of a long-term rise in interest rates.
source: Inman News
Interesting Takeaways
The Zillow Group just completed an extensive survey of home buyers and sellers. Here are some interesting takeaways from the research:
- Half of today’s home buyers are under the age of 36, and 47 percent are first-time buyers. Solo home buyers are in the minority;
most buyers are shopping with a spouse or partner (73 percent). - Eighty-three percent of buyers are shopping for a single-family house. Their top considerations are affordability and being in a safe neighborhood.
- Today’s sellers are most often members of Generation X (38 percent), and the majority (63 percent of all sellers) are listing a home for the first time.
- Most sellers are trading their homes for one they see as an upgrade, seeking a median of 100 more square feet and a home that costs an average of 11 percent more.
- Sellers’ top regret was that they didn’t take more time to prepare for a sale (30 percent). (By the way, Windermere’s Certified Listing is a proven 10-step process which prepares both the home and our clients for the sale. Let us know if you want to know more about it.)
Top 5
A new report from Veros Real Estate Solutions, which works in enterprise risk management and collateral valuation services, shows the strongest and weakest markets for the next 12 months ending in Sept. 1, 2017.
Their Top 5 Markets:
At the bottom of their list is… Atlantic City.
