There have only been two other times in history when rates have been this low- April 2013 and October 2016.
It’s interesting to see what happened soon after bottoming out these last two times.
In April of 2013 rates hit 3.41%. By August 2013 they had jumped to 4.40%.
Rates bottomed again in October 2016 at 3.42%. Just two months later in December 2016 they were 4.32%.
Each time the increase was nearly 1% within just a few months.
So, if history proves itself as a guide, we can’t expect these rates to last for long.
Suburb living at 2655 S Crystal St in Aurora with easy access to all major Denver attractions and Denver International Airport. This spacious 4 bedroom, 3 bathroom, 2 car garage home is an affordable must have. The kitchen offers beautiful granite counter tops and stainless-steel appliances, and an eat-in kitchen opening to the deck. Plenty of room for entertaining in your large dining room area, 2 family rooms, and a large backyard. Relax on the freshly resurfaced deck and stone patio or enjoy gardening in the many flower beds and vegetable garden. Contact Justine Marx at (970) 775-4030 for your private showing for more information or click the link below for more details.
Welcome to the fall issue of Windermere Living! Are you a foodie who loves to travel? Inside this issue is an article about interesting destinations where you can enjoy edible, immersive experiences like making your own coffee on the Kona coast of Hawaii, or diving for clams in Cabo and cooking them with an executive chef.
If you’ve ever undergone a major home remodel, you know all too well how important it is to partner with the right architect. We explore that topic in this issue, along with some pro tips on how to match yourself up with the perfect architect for your project, a process that isn’t that different from dating.
Last but not least, there are more than 70 pages filled with homes for sale throughout the Western U.S. Whether you’re in the market for a country farmhouse or a high-rise condo, there’s a little something for everyone.
This is just a sampling of what you’ll find in this issue of Windermere Living; we hope you enjoy it!
Want old world charm combined with the worry-free simplicity of a modern home that has been fully updated? Check out this sun-drenched turn of the Century brick home at 4211 Alcott Street in Denver nestled on a beautifully landscaped yard on a great block in popular Sunnyside neighborhood. The main floor boasts a stylish gourmet kitchen with granite counters, cherry cabinets & stainless appliances. The living room has the original craftsman fireplace, exposed brick and the dining room has a bay window. The 2nd floor is a private master suite with walk-in closet, custom tile shower with European glass doors, dual sinks, toilet closet, skylight and gigantic soaker tub. New Hickory wood floors can be found throughout the house including all 3 bedrooms. The basement is finished with a bonus room for movies or an office. Enjoy the private backyard on the deck with French doors to the mud room. Parking is not a problem with an over-sized two car garage. Newer roof, plumbing, electrical wiring, furnace and A/C. Just a block and a half to the restaurants & shops at Cobbler Corner. Contact Aaron Pearson at (970) 646-3035 for your private showing for more information or click the link below for more details.
The latest report from the Federal Housing Finance Authority is hot off the press. They rank 241 major metropolitan areas across the U.S. for yearly home price appreciation.
The Case-Shiller Home Price Index is a well-known report in the real estate industry and a valuable way to gauge what is happening in various markets across the Nation.
The report tracks home price appreciation in the 20 largest markets in the country.
Their most recent report shows that, Nation-wide, home prices are up 2.1% year-over-year.
Last year prices were rising at 6.3%. So, prices are still going up but not as fast as they were.
The city with the highest appreciation over the last 12 months is Phoenix with 5.8% growth followed closely by Las Vegas at 5.5%.
Denver came in at 3.4% which makes it tied for 8th place out of the 20 cities.
The United States housing market is experiencing a significant reduction in foreign buyers. Windermere Chief Economist, Matthew Gardner, cites several factors that could be contributing to this trend and offers his opinions as to what to expect in this recent Market Update.
After last year’s wildfires, some of the largest and deadliest in recent memory, spread along the west coast, homeowners are on edge as to what this fire season will bring. The questions of whether their home will be burnt, or if they will be affected by poor air quality, hang in the air much like the smoke of a nearby fire. Accompanied by heatwaves hitting much of the U.S. these fears can turn into realities just as quick as a spark in brush. Luckily there are ways to prevent damage and to prepare for anything coming your way.
Be prepared with fire insurance
Are you currently protected in case of a fire? Make sure to talk with your insurance agent and work on a plan to insure your home.
Questions to ask them are:
- What is covered should our home be destroyed in a fire?
- What kinds of documentation do we need to do in order to get the full benefit of the insurance?
- It’s usually a great idea to keep a log of what is in your home and how much it costs. Keep receipts and invoices if possible.
- Who at the company should we contact in case of emergency?
Be prepared with an emergency kit
Cal Fire has a comprehensive guide to all things wildfire preparedness. Here they suggest putting together an emergency kit that’s always ready in case of sudden evacuations. They recommend including:
- Map marked with at least two evacuation routes
- Non-perishable foods to last three days
- Prescriptions and medications. Also, eyeglasses or contact lenses.
- Change of clothes
- Toiletries and sanitation supplies
- And extra set of car keys, as well as credit cards, cash or traveler’s checks
- First aid kit
- Flashlight and batteries
- Copies of important documents like birth certificates and passports
- Food and water for your pet
- Chargers for cell phones and other devices
Some other items you might consider having close by are easily carried valuables, sentimental items like family photos, and computers or hard drives. Keep a sturdy pair of shoes and a flashlight near your bed for any evacuations at night.
Prevent damage by fortifying the building
You don’t have to re-do the entire garden to slow the fire down. Home Advisor recommends you create a balance of aesthetically pleasing flora and slow-burning plants that are less likely to ignite.
Additionally, keep your garden and property free of dry materials that are ideal for kindling either in your bonfire or for a wildfire. Not only does creating this barrier protect your home, it also gives firefighters a safe area to work from as they work to control the fire.
To see what plants to use and other ways to fireproof your property, visit HomeAdvisor.
Build or remodel with flame-resistant materials
Materials like brick, stucco, metal, or concrete are great exteriors that can prevent the fire from taking hold of your home, at least initially. If your home is already built with one of these materials, the weak points might lie in your extremities like your deck or porch. Consider re-building these with fire-proof materials or add a coating to protect them.
Additionally, protect the most vulnerable areas of your home, like your windows and any air vents. Add retractable fireproof panels to your windows or replace the glass with wire glass or fire-proof safety glass. Don’t forget your skylights or windows on your doors.
For home sellers who would like to move to a new home this year, there is a window of time that is closing as we head into the Fall months.
Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.
Here are the specific numbers behind this…
The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.
That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.
For sellers who have homes on the market today, it is time to ensure that:
- The home is priced right versus the competition
- All of the marketing elements are in place
- It is easy for a buyer to make an offer on the home
So how much real estate is sold in Northern Colorado?
As it turns out, a lot!
Last month alone there were 1,099 single family homes that sold in Larimer and Weld Counties
The average price was $429,144 which means the total sales volume for one month was $471,629,129 (almost a half a billion)!
Over the last 12 months, just over $4.5 billion worth of single-family homes have sold.
That’s a lot of real estate!