Our heart goes out to all the people affected by the wildfires along the Front Range and in our mountain communities.
We are also so appreciative of the brave men and women who are helping protect people and property from the fires.
We want to help and we want to ask for your help.
Through the Windermere Foundation we have set up a fund to benefit the Northern Colorado Chapter of the Red Cross and the Wildland Firefighters Foundation.
The Red Cross is of course helping people displaced by the fires. The Wildland Firefighters Foundation helps firefighters and their families.
The $10,000 fund will match, dollar-for-dollar, any contribution made by our associates, clients and friends.
Please help us reach our goal of contributing $20,000 to these two worthy places.
To contribute simply click HERE.
Thank you for your support!
316 Diamond Drive is a beautiful multi-level home centrally located between Fort Collins and Loveland. This home is situated on a large lot with plenty of room for entertaining. A detached single car garage is perfect for storage or your toys. The lower level has been converted to a large master suite with walk-in closet and space for a reading nook or seating area. An open concept kitchen, living room, dining area means you and your guests are never far from the action. The 2nd, 3rd and 4th bedrooms are large and offer ample space for all of your needs. The home is located in a mature neighborhood with no HOA, conveniently close to 287, 392 and I-25, you can be anywhere within minutes! Call for your private showing at (970) 829-8818 for more information or click the link below for more details.
Periodically we track a stat which we find to be quite interesting.
It answers this question – how many properties are selling for at least list price (asking price or higher)?
This stat tells us how active the market is and helps our buyers to realize that, in some cases, they will be in a competitive situation.
When we look at single-family home sales so far this month, this is what we find:
57% of properties in Larimer County sell for at least list price
62% of properties in Weld County sell for at least list price
So, in well over half of the transactions, buyers need to offer list price or higher to acquire the property.
The data gets even more interesting when this information is broken out by price range.
To no one’s surprise, the percentage increases for properties priced under $400,000:
81% in Larimer County
70% in Weld County
We find that for properties over $400,000 the percentages still tell a story of a very active market:
47% in Larimer County
56% in Weld County
Bottom line, in most locations and price ranges we see a strong sellers’ market where buyers need to be prepared to make a strong offer and to also compete.
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.
Every so often we will hear a concern that another housing bubble is forming.
To help answer that question it’s valuable to look at the reasons that caused the last one.
There were three main drivers of the bubble that burst in 2008:
- Easy Credit – loans were very easy to attain
- Over-Leverage – people were using their homes at ATM’s
- Over-Supply – too many new homes were being built
Now, let’s compare that to today:
- Stricter Credit – the average home buyer today has a FICO score of 755
- High Equity – collectively, U.S. homeowners have $19 Trillion of equity in their homes and collective mortgage debt has not increased for 13 years
- Under-Supply – today we are building only two-thirds of the new homes being built in 2004 yet the population is much higher
Given this healthy information, we don’t see another housing bubble forming today.
If you would like to see a video recap of our annual Market Forecast you can watch that HERE.
Unique mountain property at 15800 Moss Rock Drive in Longmont just outside of the city and close to beautiful hiking spots. Enjoy 35+ rolling acres of your own mountain oasis that is close enough to town to still give you all the convenience of the city. The attached 2 car garage and detached 5 car garage have plenty of space for all of your toys, cars and trucks! There are views in every direction from every window in the home and plenty of living spaces for entertaining or enjoying some seclusion. With Open zoning, this home has endless possibilities for you and your business or hobbies. Call for your private showing at (970) 829-8818 for more information or click the link below for more details.
If you’re anything like me, around this time of year you start to go a little bit stir crazy. No matter where you live — even if you’re surrounded by gorgeous, snow-capped mountains every day, like I am! — every now and then you need to hop in a car or board a plane and be someplace else for a little while.
(No? Just me?)
Here’s a local-ish getaway that I am putting on my “maybe some day” list: the ColoRADo Adventure Hostel, or the Rad Hostel for short. The Rad Hostel is close to my family’s stomping grounds in the Springs, and — well here, I’ll let them tell you:
In the shadow of Pikes Peak, and just a few miles from Garden of the Gods, this RAD new hostel is a blend of Colorado’s art, mountain culture and fresh Colorado Springs vibe.
Though I’m married with children now, there is definitely a part of me that wants to join the Rad Hostel crew for their drum circle on Thursday or their pancakes and sunset hikes on the weekend. It also sounds perfect for a getaway trip with friends.
The tourism organization Visit Fort Collins does a wonderful job of sharing information about the vibe in this city and the new activities that are constantly being added. Their most recent video, The Best Family-Friendly Activities in Fort Collins, highlights a few of my family’s favorites, including:
- The Farm at Lee Martinez Park
- Fort Collins Museum of Discovery
- The Exchange (see my blog post about The Exchange here)
- Old Town Putt
Here are just a few more that I would have included:
- My gym, Genesis North: They offer great kids programming (and daycare), and just started up a kids’ version of CrossFit!
- Twin Silo Park: Fort Collins has countless beautiful parks and natural spaces, but this is a particular favorite of my tiny human.
- Horsetooth Reservoir: I am so happy that my kiddo likes to hike and kayak. It feels like we spend half our summer on the reservoir!
What are your favorite family-friendly spots in Fort Collins?
Housing affordability is a hot topic especially after the strong price appreciation that has occurred in our market over the last 7 years.
Here’s some interesting research on affordability…
Each quarter the National Association of Home Builders measures affordability in hundreds of markets across the Country.
Their method is to count the number of homes in a market that could be purchased with that particular market’s median income.
For example, San Francisco is the least-affordable market where only 8.4% of the homes could be purchased with their median income.
The most-affordable is Monroe, Michigan where 95.3% of the homes could be purchased with their median income.
Guess where all of the 10 least-affordable markets are. California!
Guess where almost all of the 10 most-affordable markets are. The rust belt (cities in Michigan, Ohio, upstate New York, etc.)
The U.S. average is 63.6%.
Metro Denver comes in at 55.3% and Northern Colorado at 54.5%.
So, roughly half of the homes in our market could be purchased with our local median income.
My husband and I are expecting a little girl in a few weeks (hurray!!), so it is baby shower time in my life. Is there any better example of the power of community than a baby shower? Here are three big ideas I’ve taken away from my recent baby shower experience.
- Your community is there, you only need to invite them. People have come out of the woodwork to support our new baby (and the big-brother-to-be)! A baby shower is a wonderful time to say “I could use some help” — but it’s certainly not the only time you can ask for support. When a friend reaches out to ask me for help, I am delighted. We should all remember to ask more often!
- It takes a village to raise a child. My community has truly rallied around my family, and it has been such a great reminder that we’re not doing this alone. Friends have brought gifts for my little boy to make sure he knows he’s a special part of this process. They have given my husband and me countless pieces of advice, product recommendations, and even clothes that their own kiddos have outgrown. I am part of a tribe.
- The vibe of Fort Collins fosters community. A friend of mine hosted a baby shower for me at nearby Snowbank Brewing. Something tells me that’s not normal operating procedure all around the country, but in Colorado it’s completely natural to hold *any* kind of shindig at a brewery. Friends (men and women) came to raise a glass (water for me, thanks) in a cozy, relaxed atmosphere. Taking events out of the home and into a local business gives me a sense of being part of a wider community. (Plus, um, I get to meet new dogs at Snowbank.)
What does your community look like? Is it time to reach out and reconnect? If you’re looking for support, don’t forget to ask!
Here is our interest rate Forecast for the next year.
Our Chief Economist, Matthew Gardner, predicts that rates for a 30-year fixed mortgage will stay between 3.8% and 3.9% for 2020.
He doesn’t see rates going above 4.0% until at least the first quarter of 2021.
This is obviously great news for buyers as their payments will stay much lower as compared to having a rate at the long-term average of 7.5%.
If you would like to see the slides from Matthew Gardner’s Forecast presentation, we would be happy to get those in your hands. Just let us know if we can help!