Buyer Tips

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About the area Rebound The Case-Shiller Home Price Index tracks appreciation in the 20 largest real estate markets across the U.S. Their most recent quarterly report was just released this week. Metro Denver prices are up over last year by 3.89% which is just slightly higher than the average of the 20 markets. It is interesting to see how […]
About the area Spring in Summer This year the Spring market is occurring in the Summer. Typically the busiest months for real estate along the Front Range are April, May and June. This year, because showing activity was restricted in the Spring months, we are seeing robust activity this Summer. Here’s an indicator.  Sales through July 2020 versus July 2019 are […]
Buyer Tips Buyer Contemplation New research from the National Association of Home Builders: The number of Americans contemplating purchasing a home in the second quarter of 2020 is nearly the same as 2019’s second quarter, according to NAHB’s Housing Trends Report. At this time last year, 12% of Americans considered buying a home. Today the number stands at 11%. […]
About the area Not Taxing Pop quiz… Which state has the lowest effective property tax rates? It’s not Colorado. But, if you guessed Colorado you’re close! Hawaii has the lowest effective rate at .27%. Colorado is ranked 3rd at .53%. New Jersey is the highest at 2.47% So, Colorado’s property tax rate is one fifth of New Jersey. It’s also […]
About the area Rate Meaning Mortgage interest rates have hit another record low this week. Mortgage applications for purchases just hit an 11-year high. Rates are at a level that many people could never have imagined. Here’s something that is surprising to many people… Rates are 1.5% lower than they were just two years ago. Here’s what that means for […]
Buyer Tips Tight Inventory The numbers that we find to be most interesting right now are all related to inventory. Long story short, inventory is tight. It was already tight pre-coronavirus and now it’s even tighter. Here are the numbers. Active properties for sale versus one year ago are down: 11% in Larimer County 20% in Weld County 26% […]
Buyer Tips Prices Still Up It seems that COVID-19 did not cause prices to decrease and certainly didn’t cause them to crash. Average prices are up compared to last year: 2.8% in Larimer County 5.4% in Weld County 3.3% in Metro Denver Low supply, sustained demand, and incredibly low interest rates are all fueling the price growth. At Windermere Real […]
Buyer Tips On Sale On Sale Money is on sale (again). 30-year mortgage rates now sit at 3.3%. This is less than half of the long-term, 40-year average. This is also almost a full percentage point lower than they were one year ago (which was still very low). Let’s put this in real numbers. A $300,000 loan at today’s […]
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Buyer Tips Faster   Here’s something true about today’s market. Properties are selling fast. Compared to one year ago, the number of days it takes for a property to sell is significantly lower. The industry term is “Days on Market” or DOM. DOM is way down. Here is the comparison of May 2020 versus May 2019: • Metro […]
Buyer Tips Pent Up Demand We notice a very interesting dynamic in the market right now. There was clearly a pent-up real estate demand created during the recent time when in-person showings were not allowed. The numbers back it up. First, a little background. During a portion of “Shelter in Place,” all in-person viewing of properties ceased. Instead, buyers spent […]
Buyer Tips What the Numbers Say April represents the first time we can look at the impact of COVID-19 on a full month of real estate activity. To no one’s surprise, activity in April in terms of closings and new contracts did slow significantly. Much of this slowing was caused by in person showings not being allowed for most of the […]
Buyer Tips Another Meltdown? This week our Chief Economist took a deep dive into the numbers to examine the current health crisis versus the housing crisis of 2008. The reason why? People wonder if we are going to have another housing meltdown nationally and going to see foreclosures and short sales dramatically increase. It turns out that the numbers […]
About the area Special Event On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner. He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado. You will hear the answers to the biggest questions we are hearing from clients […]
Buyer Tips Inventory Drop Inventory Drop An impact we expected from COVID-19 to the housing market is reduced inventory.  That prediction is certainly proving to be true. In March, the number of withdrawn properties from the MLS went up 68% in Larimer County and 38% in Weld when compared to March 2019. Reduced inventory is one reason why we […]
Buyer Tips Health Crisis not Housing Crisis Here is the latest video from our Chief Economist Matthew Gardner. It’s full of great nuggets about what is happening in the economy and the real estate market today.  Just Click the image below to play the video.
Buyer Tips Leading Indicator We are watching close to see where the real estate market is headed. Anecdotally we can tell you that the vast majority of transactions that are under contract are still closing. We have seen very few transactions cancel because of employment issues or the wild swings of the stock market. An interesting leading indicator was […]
Buyer Tips Economist’s Perspective Our Chief Economist made a video for all of our clients where he shares his perspective on COVID-19’s impact on housing.  You can watch it by clicking the image below:    
Buyer Tips Headwind Vs. Tailwind Headwind vs. Tailwind So far the tailwind of historically-low mortgage rates are prevailing over Wall Street and COVID-19 concerns. Buyers are still active. Properties are still closing. Moving trucks are still showing up at people’s homes. Open house traffic has declined, but we notice plenty of buyers looking for property. (one of our open houses […]
Buyer Tips A History Lesson With the stock market on a wild ride and the Dow Jones dropping nearly 1,000 points yesterday, it makes some people wonder if the local real estate market might also crash or at least “correct.” A little history lesson is in order. Over the last 40 years, the real estate market along the Front Range has […]
Buyer Tips Corona Rates Interest rates on a 30-year mortgage right now are just about the lowest they have ever been in history. The rate today is 3.45% The lowest-ever in November, 2012 was 3.31% A year ago they were 4.35% So, what gives? Why are rates so low? It turns out that the coronavirus is pushing rates down […]
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