Friday Fun Facts!

image

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…

image

Welcome to Friday Fun Facts!

Posted on April 13, 2018 at 1:24 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , ,

The Scoop! Is Here

Check out this quarter’s edition of The Scoop! Our Northern Colorado Market report!

THE SCOOP!

Posted on February 19, 2018 at 4:59 am
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , , ,

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!

Posted on December 18, 2017 at 2:32 pm
Paul Hunter | Category: About the area, Buyer Tips, Fort Collins Real Estate, Investment, Loveland Real Estate, Real Estate, Seller Tips, Wellington Real Estate, Windsor Real Estate | Tagged , , , , ,

The Health Of The NoCo Market

I think by this point if you have been reading my blog, you are pretty well aware that we currently have a very fast moving and healthy real estate market here in Northern Colorado. While it’s all good and well to know this in your gut, let’s take a look at some stats that really prove that point.

If you look back over the last 30 years, the Fort Collins/Loveland appreciation levels have been negative only 6 of those years, 3 of which were during the worst recession of our lifetimes (unless you lived through the Great Depression!). Here are some other interesting statistics that show the health of our market:

  • Fort Collins/Loveland area is # 11 on the top 259 markets for home price appreciation in the country
  • Greeley is #12, Denver is #14, and Boulder is #15 of the top 259 markets
  • Colorado is # 2 (only behind Oregon) for 1 year home price appreciation IN THE COUNTRY! Florida, Washington, and Nevada round out that top 5 list

If you would like to know how all of this good news affects your home’s value or your ability to buy a new home, I would love to talk to you, so give me a call or shoot me an email!

Posted on April 10, 2017 at 2:17 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , , , ,

Your New Property Tax Valuation…..WOW!

If you own a home in Larimer County, you are probably excited about the increase in equity over the last few years due to the appreciation level we have seen. If you are buying a home in Larimer County right now, don’t worry you aren’t left out in the cold, the prognosis for property values in the next 5 years is still good! But there is one fly in the ointment when it comes to appreciation, and those are your property taxes. The county assessor is re-assessing values, and most of these are going to be going up. The way that the Assessor looks at values is interesting, and if you would like help trying to fight your tax value and getting it lower, I can pull the specific information that is required to do that, and show you the steps. Give me a call or shoot me an email if you are interested and we can talk more about the details!

Posted on April 3, 2017 at 2:05 pm
Paul Hunter | Category: About the area, Investment, Real Estate, Seller Tips | Tagged , , , , , , ,

Friday Fun Facts! Does EVERYTHING Really Sell In This Market?

Facebook Twitter
image

The Hidden Truth

An often over-looked fact is this – not all homes which are listed for sale actually sell.

For instance, 1844 single-family homes have closed so far this year in Northern Colorado and 435 have been withdrawn from the market. So when a home is listed in our market, there is a 20% chance that it will not sell.

It begs the question, why does this happen? How could it be, that in today’s hot market, a home would not sell?

The reality is that there are many reasons why. What we know is that a major culprit is the inspection. The inspection represents a big source of upset, angst and unpleasant surprise in the transaction. Right after the Seller and Buyer are thrilled to finally be under contract, the inspection arrives which disappoints all parties.

The disappointment leads to another round of negotiation which can ultimately lead to the cancellation of the contract.

This is why I so firmly believe in pre-inspecting every listing and why I have committed to the Certified Listing process. Similar to a Certified pre-owned car, my 10-step process provides confidence to the Seller and clarity to the Buyer.

To see more about the process check out the video below! Feel free to contact me if you have any more questions!

Posted on March 31, 2017 at 3:03 pm
Paul Hunter | Category: About the area, Real Estate, Seller Tips | Tagged , , , , , , ,

Friday Fun Facts – Mortgage Rates

image

So What?

The Federal Reserve raised their benchmark interest rate 0.25% this week.

So what does this mean for real estate?

Some perspective is in order…

First, mortgage rates are not directly tied to the Fed Funds rate. They are, however, closely tied to the 10-year Treasury.

While the Fed was raising their rates this week, mortgage rates actually dipped lower (although slightly).

Mortgage rates today on a 30-year loan are essentially 4.25%.

The long term average for mortage rates, going all the way back to 1970 is 7.5%

For every 1% rise in rates, there is a corresponding 10% impact to the monthly payment.

Mortgage rates have increased about 0.75% since the election.

Most economists expect rates to increase another 0.5% by year-end.

I am watching mortgage rates closely and will continue to keep my clients updated as to where the experts think they are heading.

Posted on March 17, 2017 at 2:59 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , , , ,

Friday Fun Facts

image

The Results Are In!

You’ve probably heard that prices are up in Northern Colorado 🙂

Anohter source just confirmed this.

The Federal Housing Finance Authority recently released their quarterly report on 260 metropolitan markets across the country.

Get this, Colorado has 4 cities ranked in the top 15 for yearly price growth.

Northern Colorado is well-represented on this list.

  • 11th Fort Collins/Loveland
  • 12th Greeley
  • 15th Boulder

By the way, Denver is 14th. And in case you are wondering, Palm Bay Florida is ranked 1st.

All of the Northern Colorado cities have had just over 10% appreciation in the last year meaning that prices are growing at about double the long-term average.

To receive a copy of the full FHFA report, simply email me at phunter@windermere.com and we will get one in your hands right away.

Posted on March 10, 2017 at 11:30 pm
Paul Hunter | Category: About the area, Buyer Tips, Real Estate, Seller Tips | Tagged , , , , , , ,

What’s Happening In The 2017 NoCo Real Estate Market?

Have you asked yourself this question, or has someone you know asked this question? Then let us answer! Check out the video below that outlines our 2017 Windermere Real Estate Market Forecast!

Posted on March 4, 2017 at 7:20 pm
Paul Hunter | Category: About the area, Buyer Tips, Investment, Real Estate, Seller Tips | Tagged , , , , , , , , ,

Friday Fun Facts

image

Luxury Spotlight

So how’s the luxury market? Let’s look…

Today there are 88 single family homes for sale in Larimer and Weld County priced at $1 Million and above.

Over the last year, 63 of these properties have sold.

This means it would take 17 months to sell all of these luxury properties at the current pace of sales.

Where do most of these sales occur? The most active city is Fort Collins with 18 luxury sales followed by Loveland with 13.

The most active neighborhood in all of Northern Colorado for luxury properties is the Harmony Club in Timnath with 8 sales.

Windermere Real Estate is proud to have represented the most expensive home to sell in Northern Colorado in the last two years – a $2,800,000 property in the Harmony Club which featured a gourmet French Kitchen, reclaimed barnwood floors and handmade peg wood beams.

Contact me to learn more about our Premier Properties program which is custom designed to sell luxury homes.

Posted on March 3, 2017 at 10:17 pm
Paul Hunter | Category: About the area, Real Estate, Seller Tips | Tagged , , , , , ,