As you may or may not know, we run the KEVCO Investment Tour every week, where brokers from our office and others in the northern Colorado area preview properties in Old Town and around the Colorado State University campus that meet certain criteria. For Old Town Fort Collins, we look for homes that are priced well according to an analysis tool that we use to calculate the spread needed to buy a property, make any renovations, and sell with a margin (believe it or not, those properties may be rare but they’re still out there!). Around the CSU campus, we’re looking for properties that will have low vacancy (KEVCO historically has right around 0% vacancy for the properties we manage), decent appreciation, and cash flow/yield numbers that are appropriate for the type of property it is (i.e. single family vs multi family).
So during the winter months and until about a week ago, we were having trouble finding enough properties that were coming on the market each week to warrant having 15 brokers go out together and analyze these properties. In my opinion it was due to both the seasonality of real estate, as well as sellers thinking that it was not the time to sell regardless of what type of property you have.
We are finally starting to see inventory come back on the market, on both the investment side, as well as single family homes. This is good news for buyers who have been waiting on the fence to buy something because of a lack of homes to look at, as well as sellers who are beginning to realize that if you price your property appropriately in Old Town or around campus those buyers are pulling the trigger and they can get it sold.
If you have any questions about investing in Fort Collins or looking to purchase a home, give me a call and we can talk more about it. Have a great week!