Country Living! This home at 50994 County Road 57 in Ault, is perfect if you are looking for a place to get away from it all. Bring your animals and all of your toys. With 3.5 acres, you will have plenty of room to play. Enjoy refreshing water with the installed reverse osmosis system, This home is also 100% electric!! No hassle of having propane delivered frequently. Walk into the spacious front living room and make your way to the HUGE master suite! You will then head into the large kitchen/dining area where you will find updated contemporary cabinets and finishes. On the other side of the home is a second living area along with two identical bedrooms and a full bathroom. Sellers are in the process of installing a crushed asphalt circle driveway and a small front porch. Contact Brooke Kern at (970) 980-8349 for your private showing for more information or click the link below for more details.
Wonderful home with a permanent foundation in the Sunflower active adult community at 4385 Espirit Drive in Fort Collins. This 2-bedroom home with den/study features a lot of natural light and a built-in gas fireplace. Pride of ownership abounds with newer paint, flooring, water heater and furnace with central air. The dining area flows into a spacious kitchen floor plan w/ breakfast bar & double ovens. Large master suite w/ sliding door to 2nd patio, double sink vanity & his/her closets. Beautiful, pet-friendly, fenced-in yard with 2 patios & a lovely gazebo. Enjoy the insulated, over-sized garage for your winter projects. Conveniently located right across from off-street guest parking. Sunflower has a clubhouse, hot tub, pickleball courts, putting green & more. Enjoy the active lifestyle with weekly community activities! Play cards, game night, dance lessons, art classes, and an exercise room. RV parking may be available, subject to availability. Contact Aaron Pearson at (970) 646-3035 for your private showing for more information or click the link below for more details.
The market is in short supply.
More homes are needed to fulfill the need to buyer demand.
Compared to exactly one year ago, the supply of homes is down:
- 32.6% in Metro Denver
- 25.1% in Northern Colorado
An interesting and useful measurement we track is months of inventory. This stat tells how long it would take to sell all of the homes currently for sale at the current pace of sales.
Of course, months of supply can vary greatly by price range and location. However, this stat does a good job of explaining the overall state of the market.
Specifically, months of supply tells us if the market is in balance.
A ‘balanced’ market is when there is 4 to 6 months of supply. A buyers market occurs when the stat is higher than this range. A sellers market occurs when it is lower.
The months of supply looks like this in our market:
- 1.0 months in Metro Denver
- 1.3 months in Northern Colorado
So, the market overall is significantly under-supplied and more homes are needed to meet demand.
We’ve been waiting for June to catch up. It finally happened (almost).
Back in April, real estate activity was significantly limited and the showing of property was restricted which caused the number of closed properties in May and early June to be much lower than last year.
Bottom line, fewer properties going under contract in April caused fewer closings 30 to 45 days later.
Closed properties in May were down compared to 2019 by 44% in Northern Colorado and 43% in Metro Denver.
Then activity jumped significantly in May. The number of properties going under contract was way up compared to last year.
We’ve been wondering when we would see this sales activity reflected in the number of closed properties.
Well, it finally happened (almost).
The number of closings so far in June compared to the same time period through June of 2019 is only down 1.8% in Northern Colorado and 1.6% in Metro Denver.
In both markets, there are only a handful of closings separating activity in June 2020 versus June 2019.
By the end of the month, when all the transactions are tallied up, we expect that June of this year will out pace June of last year in terms of number of transactions.
This is significant not only because of COVID-19, but also because of the reduced inventory compared to last year. Quite simply, there are fewer homes to buy.
All of this speaks to the health and resiliency of the Front Range market.
Well-maintained, well-built Norco Construction at 701 Ponderosa Drive in Severance with 3,148 sq/ft 3 bed, 3 bath, 3 car garage ranch style home located in the NO METRO TAX DISTRICT, low HOA community of Sunset Ridge. This custom-built home has an open floor plan with vaulted ceilings and scratch resistant hardwood floors throughout the living room and kitchen. In addition to the beautiful granite countertops and tile backsplash, the kitchen offers plenty of space for seating, as well as storage with the large pantry. The master bathroom has a custom over-sized walk-in shower, large double sink vanity, and walk-in closet. A fully carpeted and insulated basement with 1/2 bath has egress windows for easy conversion. Sitting on a large corner lot, this home offers two backyard patios, custom planter boxes, and mature landscaping. The majority of both the interior and exterior are freshly painted, making this home move-in ready! Contact Justine Marx at (970) 775-4030 for your private showing for more information or click the link below for more details.
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 buyers…
Pretend someone is looking at a $500,000 home and they will have a 20% down payment.
The difference in monthly payment is $320 between two years ago and today.
Obviously that is a significant amount of money.
Imagine what a person could do with $320 per month.
The fact that rates are at record lows is one of many reasons that the market is so strong right now and prices continue to appreciate at healthy levels.
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% in Metro Denver
This low inventory is one of several reasons that prices are generally still up across the Front Range.
Look no further! This beautiful well maintained home at 5436 W 97th Court in Westminster will satisfy all of your wants and needs. As you enter this luxurious home, you will find a perfect home office that can also be used as a fifth bedroom if desired. Make your way to the open great room layout where you will find a gas fireplace, spacious dining area, and gourmet kitchen. The kitchen features white shaker cabinets, solid surface countertops, gas cooktop, double ovens, and so much more. Upstairs you will find the beautiful master suite along with 2 bedrooms connected by a jack and jill style bathroom. The laundry area is also conveniently located upstairs with the bedrooms. Don’t forget the finished basement!! The basement includes a guest bedroom, full bathroom, family/entertainment room, and 200 sq ft unfinished room for all of your storage needs!!
Contact Brooke Kern at (970) 980-8349 for your private showing for more information or click the link below for more details.
This week on “Mondays with Matthew”: Now that things have settled down somewhat following the initial impact of COVID-19, Matthew dives into the topic of mortgage rates. Will they go below 3%? Matthew discusses this and the factors that have formed his updated 2020 and 2021 mortgage rate forecast.
Beautifully REMODELED home at 1529 Barnwood Court in Windsor on 1/4 ACRE LOT with GORGEOUS VIEWS of LAKE and OPEN SPACE. Remodels display HIGH QUALITY FINISHES throughout. MASTER SUITE features EXTRAVAGANT SHOWER and walk-in closet. Beautifully HAND-CRAFTED STONE WALL and barnwood beams frame NEW FIREPLACE in the family room. CUSTOM TRIM. Beautiful and private landscaping. Dirt trail behind house leads to fishable ponds and wildlife area. Comes with vegetable garden! Contact Elizabeth Dolton at (970) 396-7233 for your private showing for more information or click the link below for more details.