About the area • August 18, 2017

Friday Fun Facts! Different Markets/Different Dynamics

by Paul Hunter

No Two Alike

Anyone who has more than one child is frequently amazed by the difference between the children. How is it that two kids from the same parents are so different from each other?

Same goes in our Northern Colorado market. We see a major difference between certain price ranges and certain locations right here in our little neck of the woods.

Clients are constantly reading about and hearing about the “hot” market. They make assumptions that every price range and every location in Larimer and Weld Counties are on fire. Not true!

Just like two kids from the same parents are different, two price ranges in the same place are very different.

To make this point, let’s look at months of inventory. This statistic simply measures how long it would take to sell the current inventory of homes at the current pace of sales.

Across all price ranges, months of inventory in Larimer County = 2.0. Meaning it would take two months to sell all the homes currently for sale. But this is misleading, because months of inventory…

Under $500,000 is 1.2
Between $500,000 and $1,000,000 is 4.2
Over $1,000,000 is 11.7

So the $1,000,000 seller who hears that the market is “hot” is actually faced with a year’s inventory currently on the market!

This is a very high level look at the differences in our market. I am happy to give you a detailed look at your exact neighborhood in your exact price range. Let me know if we can help!

Why Do Sellers Get Sued?

by Paul Hunter

Want to know how I can help you mitigate risk when it comes to selling your home? Check out the video below to learn more!

About the area • Buyer Tips • Investment • Real Estate • May 5, 2017

Friday Fun Facts

by Paul Hunter

Sell Out

Greeley would be sold out of homes in three weeks if no new listings came on the market.

There are only 92 single-family homes for sale with a Greeley mailing address. At the current pace of sales, they would all be gone in less than a month.

Greeley is not alone is this low-inventory environment. Fort Collins and Loveland would each take 1 month to sell out and Windsor would take 2.

In some price ranges and in some mico-markets we measure inventory not in months, but in hours.

This is the story of today’s market. Low inventory and high demand is causing prices to escalate and bidding wars to take place.

This can be a frustrating environment for buyers, especially in price ranges below $400,000.

There are strategies which buyers can use to help their offers to stand out in this competitive environment. We put a short video together that walks buyers through these proven methods.

To watch the video, CLICK HERE.

Real Estate • May 1, 2017

Colorado Association of REALTORS Spring Meetings

by Paul Hunter

I am very lucky to have been voted as the Northeast District Chairman for the Colorado Association of REALTORS a year ago, and I was able to fulfill my first duties of that position last week in Vail. We spent 3 days in the beautiful town of Vail, discussing the issues that are affecting our clients throughout the Northeast District (Logan County, Fort Collins, Boulder, Longmont, Greeley, Estes Park, Loveland/Berthoud, and Northern Colorado Commercial).

The Vail Four Seasons – The Conference Was Held Here

There were some interesting take aways, one of which is that in the Denver area, 68% of all housing on the market is above $400,000. Also, they are going to make the criteria for being a managing broker of an office (my position here at Windermere Fort Collins) more stringent. Which I think is a GREAT idea for brokers and you all as clients.

The biggest win that we had so far this year is in regards to construction defects, Colorado House Bill 1279 has passed a preliminary vote which is great news for people who are looking to purchase in the lower end of the market (condos and townhomes). Builders may finally have the ability to build these types of properties which are SO NEEDED with prices increasing so significantly in the last couple of years. So that was great news.

It is a pleasure to serve our State Association, and hopefully this brings back some value to my clients here in Northern Colorado. Have a great week and if you need anything please feel free to give me a call or shoot me an email!