About the areaBuyer TipsEvans Real EstateFort Collins Real EstateHomes for SaleInvestmentJohnstown Real EstaeLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate April 2, 2019

Tax Time!

It’s Tax Time

You probably don’t need a reminder that this is tax season.

Not only because tax returns are due in two weeks but also because you will soon receive your property tax notification in the mail.

Every two years your County re-assesses the value of your property and then sends that new value to you.

When this happens, many of my clients:

  • Don’t agree with the new assessed value
  • Aren’t sure what to do
  • Are confused by the process
  • Want to save money on property taxes

Good news!  I have a webinar that will help you.  On the webinar we will show you:

  • How to read the information from the County
  • What it means for you
  • How to protest the valuation if you want
  • How to get an accurate estimate of your property’s value

You can listen to the webinar live or get the recording.  In any case, you can sign up at www.WindermereWorkshop.com  

The webinar is April 17th at 10:00.  If you can’t join live, go ahead and register so you can automatically receive the recording.

This is a complimentary online workshop for all of my clients.  I hope you can join!

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate November 12, 2018

96.3 Miles Per Hour

96.3 Miles Per Hour

 

Pretend you have been driving on the Interstate at 100 miles per hour.

Also, pretend you have been doing that for a long time.

Now pretend you slow down to 96.3 miles per hour.

How would that feel?

Probably just a little slower?

96.3 miles per hour is a 3.7% decrease from 100. It may feel slower, but it’s still pretty fast.

How does this relate to real estate?

Well, the market has been moving fast for a long time.

It’s been going 100 miles per hour for at least two years (some would argue even longer).

We’ve recently seen a 3.7% change in terms of number of transactions that are occurring.

There were 3.7% fewer sales in September 2018 versus September 2017 in Fort Collins.

It feels slower because we’ve been driving so fast for so long. But, our market is still moving.

For example, prices are still up. So, remember, that it’s all relative.

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate October 19, 2018

Friday Fun Facts! A History Lesson

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate October 8, 2018

New Home Starts

What’s Starting?

Here are some interesting stats from our friends at Metro Study who study new home activity along the Front Range.

  • New home starts are up 14% compared to last year – this is really good news and is helping to relieve the shortage of housing inventory
  • Every product type saw an increase in starts compared to last year (single family, townhome and condominium)
  • Condominiums saw the largest increase in starts by a long shot, up 112% over last year- this is excellent news for first time buyers and those looking for product in lower price ranges.

Any questions about this stuff? Give me a ring or shoot me an email and I can buy you a cup of coffee!

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentReal EstateSeller Tips September 10, 2018

Fort Collins Real Estate: Dual Markets

You may hear how the market is still blazing fast and homes are selling in just days, and you may hear that the market is slowing down and it is becoming more normalized. Here’s the truth……both of those statements are true! We essentially have a tale of two markets in Fort Collins, the one under $500,000 and the one over $500,000. Check out the graph below to see how quickly homes are selling in the market UNDER $500,000.

Under $500k

Now check out what the average days on market over $500,000 in Fort Collins looks like, quite the difference!

Over $500k

This is NOT terrible news for the over $500,000 market by the way. Now more than ever it is important to stand out from the crowd if you have a more expensive home, and our Windermere Premier Certified Listing program can help you feel like you are still in the super hot market of this past spring.

If you ever have any questions for me, please don’t hesitate to give me a ring or shoot me an email. Have a great week!

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate September 7, 2018

Friday Fun Facts! The Cost of Waiting

About the areaBuyer TipsFort Collins Real EstateHomes for SaleInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate August 31, 2018

Friday Fun Facts!

About the areaBuyer TipsFort Collins Real EstateInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate May 7, 2018

The New Gardner Report

 

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

 

ECONOMIC OVERVIEW

It’s good news for the state of Colorado, which saw annual employment grow in all of the metropolitan markets included in this report. The state added 63,400 non-agricultural jobs over the past 12 months, an impressive growth rate of 2.4%. Colorado has been adding an average of 5,300 new jobs per month for the past year, and I anticipate that this growth rate will continue through the balance of 2018.

In February, the unemployment rate in Colorado was 3.0%—a level that has held steady for the past six months. Unemployment has dropped in all the markets contained in this report, with the lowest reported rates in Fort Collins and Denver, where 3.1% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 4.6%.

 

HOME SALES ACTIVITY

  • In the first quarter of 2018, there were 11,173 home sales—a drop of 5.6% when compared to the first quarter of 2017.
  • With an increase of 5.3%, home sales rose the fastest in Boulder County, as compared to first quarter of last year. There was also a modest sales increase of 1.2% in Larimer County. Sales fell in all the other counties contained within this report.
  • Home sales continue to slow due to low inventory levels, which were down 5.7% compared to a year ago.
  • The takeaway here is that sales growth continues to stagnate due to the lack of homes for sale.

 

 

HOME PRICES

  • Strong economic growth, combined with limited inventory, continued to push prices higher. The average home price in the markets covered by this report was up by 11.7% year-over-year to $448,687.
  • Arapahoe County saw slower appreciation in home values, but the trend is still positiveand above its long-term average.
  • Appreciation was strongest in Boulder County, which saw prices rise 14.8%. Almost all other counties in this report experienced solid gains.
  • The ongoing imbalance between supply and demand persists and home prices continue to appreciate at above-average rates.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home dropped by three days when compared to the first quarter of 2017.
  • Homes in all but two counties contained in this report took less than a month to sell. Adams County continues to stand out where it took an average of just 17 days to sell a home.
  • During the first quarter, it took an average of 27 days to sell a home. That rate is down 2 days from the fourth quarter of 2017.
  • Housing demand remains strong and would-be buyers should expect to see stiff competition for well-positioned, well-priced homes.

 

 

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. In the first quarter of 2018, I have left the needle where it was in the fourth quarter of last year. Even as interest rates trend higher, it appears as if demand will continue to outweigh supply. As we head into the spring months, I had hoped to see an increase in the number of homes for sale, but so far that has not happened. As a result, the housing market continues to heavily favor sellers.

 

 

 

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.

About the areaBuyer TipsFort Collins Real EstateInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate April 13, 2018

Friday Fun Facts!

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18 Days

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.

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 me at phunter@windermere.comand I will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Get our Investment Kit…

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Welcome to Friday Fun Facts!

About the areaBuyer TipsFort Collins Real EstateInvestmentLoveland Real EstateReal EstateSeller TipsWellington Real EstateWindsor Real Estate December 18, 2017

Home Price Increases – What Will It Cost?

Check out the picture below to see how home prices are increasing by region, this comes from www.keepingcurrentmatters.com and the direct link is HERE. Let me know what you think!