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.
Posted on February 24, 2020 at 4:33 pm
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.
Posted on January 31, 2020 at 11:14 am
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!
Posted on January 24, 2020 at 2:20 pm
January is heaven for me. I’m a goal-setter, a journal-writer, a vision board-er. I love my life but I can always think of a dozen adjustments I’d like to make, and I live for that “fresh start” feeling that the new year brings.
This year, my biggest goal (I prefer “goal” to “resolution”) is all about intention. Like so many other women I know, I live that hectic mom life. It can be easy to trade convenience for quality, or to get so caught up in the hustle and bustle that I lose track of what’s truly meaningful. Here are a few of the ways that I’d like to bring more intention into my life in 2020:
Intentional time with my tiny human. One huge and happy shake-up I have planned for 2020: I’m expecting another baby! While my sweet family of 3 is definitely looking forward to expanding, I want to be sure the big-brother-to-be gets as much of my time and attention as he deserves.
Intentional time with my husband. My husband is a fantastic father — but he’s also more than that. It’s time to carve out date nights again, remember how we make one another laugh, and reconnect as the unique people who first fell for one another.
Intentional time with my clients. My clients have goals just like I do, and I am going to help them achieve their real estate dreams! That starts with intentional communication and the same kind quality time I’d give to any relationship that mattered to me. I believe that this is already a service that I provide, but to me it’s always worth reflecting and making sure I am living up to my goals. How might I serve you better in 2020?
Posted on January 19, 2020 at 7:00 am
Tagged 2020, aspirations, family, family life, goals, intention, mom life, motherhood, new year, parenthood, resolutions
Millennials often get a bad rap. One of the myths about Millennials is that they don’t own homes and will be renters forever.
Not true! Especially on the Front Range of Colorado.
Based on research by our very own Chief Economist, Matthew Gardner, Millennials make up a significant percentage of all home buyers in Metro Denver and Colorado.
In Metro Denver, 50% of all buyers last year were in the Millennial demographic.
In Northern Colorado, the number is 41%.
It turns out that Millennials, as they move into their mid to late 30’s, see the value of home ownership and are at the point in their lives where it makes sense to own instead of rent.
Posted on January 17, 2020 at 3:19 pm
It turns out a lot of real estate changes hands over the course of a year in our market.
In 2019 Metro Denver had…
- Over 56,000 residential sales
- Over $28 Billion of residential sales volume
Overall, 2019 saw a slight increase in the number of transactions compared to 2018 and approximately a 5% increase in sales volume.
For a detailed look at the 2019 numbers plus our forecast for 2020, click the links below…
It’s time to register for our annual Market Forecast event. We will be live at 5:30 on January 15th at the Wellshire Event Center. Back by popular demand is our Chief Economist Matthew Gardner. Save your seat HERE.
Posted on January 3, 2020 at 1:15 pm
I hope your Thanksgiving was simply wonderful, full of good food and quality time.
One of my favorite traditions at Windermere is our pre-Thanksgiving pumpkin pie giveaway. I always love having a chance to slow down, reconnect with my clients and friends (and, as is often the case, client-friends!), and show my appreciation for the members of my community who support me through their business and their friendship.
Happy Thanksgiving from me to you! Though of course it already feels as though it’s practically Christmas…!
Posted on December 1, 2019 at 7:00 am
Tagged grateful, gratitude, holiday, holidays, Thanksgiving, tradition
I was overdue for some new professional headshots! I recently had the pleasure of working with Jen at Blue Sage Photography on a new series of photos that I simply love — not only are they professionally shot, but they are so me.
Here are 3 ways that my new photos represent me:
- The photographer. When I needed new photos, I knew immediately who to reach out to — Jen also photographed my wedding! The experience I had with Jen on my wedding day made me sure that I would end up with photos that felt authentic to me. (And let’s be honest, it’s easier to smile when there’s a friendly face behind the camera!)
- The look. Everything about this look, from the playful pearls to the classic blazer, is straight-up Anali. I love a timeless look, and I try to avoid anything trendy. That said, I still love a bold statement… like those whiter-than-white pants.
- The smile. In the end, the most important thing about professional headshots is that they capture your own unique vibe. I can be serious when the moment calls for it, but this photo captured my more natural and joyful side.
Thanks again to Blue Sage Photography for helping me to express myself to future clients and partners.
For bonus photos from my session, visit my Facebook page.
Posted on November 17, 2019 at 7:00 am
Tagged headshot, photography, photos, style
Oh Windsor, you get me.
On Thursday, November 14th at 6:30pm, Windsor’s Toast Coffee & Wine Bar is hosting a delicious-sounding guided wine tour, pairing six wines with appetizers inspired by Thanksgiving.
Sommelier Hillary Siebels is visiting Toast for this event, which promises to be beginner-friendly — “You don’t have to know much about wine to find this experience educational & tasty.”
Tickets for this 21+ event are $35 and reservable in advance. Visit the Facebook event page for more information.
What a delightful excuse to visit downtown Windsor!
P.S. The Coloradoan has previously interviewed Hillary Siebels and other local sommeliers about “how to become a wine expert.” Fort Collins Magazine has also picked Siebels’ brain about the perfect bottle of wine to give as a gift.
Posted on November 10, 2019 at 7:00 am
Tagged event, experience, Thanksgiving, windsor, wine