This home beats brand new! 3312 Tupelo Lane has so much to offer with 5 bedrooms, 3.5 bathrooms, and over 2000 sq. ft.! The main floor has been updated with wood-like tile and fresh paint and is great for hosting guests with the open and inviting spacious kitchen, dining, and living area. The upper level offers 4 bedrooms with a large laundry area, master suite with 5 piece bathroom to relax and unwind in. The best part is the garage! It offers enough space for 3 vehicles with room for storage. Contact Stephanie Woodard for your private showing at (970) 215-2676 for more information or click the link below for more details.
Here’s some good news for buyers who have been waiting for more selection…
No need to wait any more because the numbers show that more new listings are hitting the market compared to the recent past.
In Metro Denver, the number of homes for sale is up 14.42% compared to last year.
That equates to 800 more homes to choose from.
Start spreading the news!
However, homes that are priced right and in great condition are selling, and in many cases, selling quickly.
As buyers feel the market cool a bit, it may cause them to want to wait. They sometimes feel like it’s a better choice to ‘wait and see what happens.’
The reality is, there is a real cost to waiting given two specific facts.
1. Interest rates will continue to rise
2. Prices will continue to rise
Interest rates are a little more than 0.5% higher than a year ago and experts predict them to be another 0.5% higher by this time next year.
Prices have been appreciating at roughly 10% per year for the last four years. Based on the numbers, we see that appreciation could be 5% per year for the next two years.
So, let’s look at a house priced at $450,000 today. If prices go up “only” 5% for the next 12 months, that home will cost $22,500 more in a year.
And, if rates go up another half percent, the monthly payment will be $206 higher. That’s an 11% increase!
In an environment of rising prices and rising rates, there is a real cost to “wait and see.”
It’s called “At Least List”
It measures how active the market is by tracking the number of single family homes that sell for at least list price.
Because of the demand in our market, many homes sell for list price or higher.
So here’s the latest based on closings so far in the month of July…
The percentage of single family homes selling for at least list price:
- Fort Collins = 58%
- Loveland = 67%
- Windsor = 55%
- Greeley = 75%
Based on these numbers, homes that are priced right, and positioned right in the market will attain the price the seller wants (or higher).
To see the whole story about our market along with other stats and trends, watch the recording of Tuesday’s Windermere Workshop right here.
If you are buying or selling your home, you will want to find a real estate agent that you like and trust. Windermere agents, Marguerite Giguere and Anne Jones have some great tips on how to find a real estate agent, make sure they will fit your needs and set expectations.
Is this year you make the leap to buy your first home?
A home is a major investment and, for many people, the greatest financial asset they have. With so much at stake, it makes sense to do what you can to protect your financial interest. Getting a home inspection is a smart, simple way to do just that.
When you make a written offer on a home, insist that the offer provide that your contract is contingent on a home inspection conducted by a qualified inspector. You’ll have to pay for the inspection yourself, but an investment of a few hundred dollars could save you thousands of dollars and years of headaches. If you’re satisfied with the results of the inspection and are assured that the home you’re purchasing is in good shape, you can proceed with your transaction, confident that you are making a smart purchase.
Hire a professional
When you are ready to hire a home inspector, be sure they’re licensed in your state. They should be able to provide you with their license number, which you can use to verify their status with the appropriate government agency. The best way to find an inspector is to ask your real estate agent for a recommendation. Even among licensed and qualified home inspectors, there can be a difference in knowledge, performance, and communication skills, so l it’s a good idea to do some research to ensure that you get the type of inspection you need.
What to ask your home inspector
Ask the right questions to make sure you are hiring the right professional for the job.
What does your inspection cover?
Insist that you get this information in writing. Then make sure that it’s in compliance with state requirements and includes the items you want inspected.
How long have you been in the business?
Ask for referrals, especially with newer inspectors.
Are you experienced in residential inspections?
Residential inspection in a unique discipline with specific challenges, so it’s important to make sure the inspector is experienced in this area.
Do you make repairs or make improvements based on inspection?
Some states and/or professional associations allow the inspector to perform repair work on problems uncovered in an inspection. If you’re considering engaging your inspector to do repairs, be sure to get referrals.
How long will the inspection take?
A typical single-family dwelling takes two to three hours.
How much will it cost?
Costs can vary depending upon a variety of things, such as the square footage, age, and foundation of the house.
What type of report will you provide and when will I get it?
Ask to see samples to make sure you understand his or her reporting style. Also make sure the timeline works for you.
Can I be there for the inspection?
This could be a valuable learning opportunity. If your inspector refuses, this should raise a red flag.
Are you a member of a professional home inspector association? What other credentials do you hold?
Ask to see their membership ID; it provides some assurance.
Do you keep your skills up to date through continuing education?
An inspector’s interest in continuing education shows a genuine commitment to performing at the highest level. It’s especially important with older homes or homes with unique elements.
What doesn’t a home inspection cover?
For a variety of reasons, some homes will require specialty inspections that are not covered by a typical home inspection. A specialty inspection might include such items as your home’s sewer scope, septic system, geotechnical conditions (for homes perched on steep slopes or where there are concerns regarding soil stability) or underground oil storage tank. If you have any questions about whether or not your home needs a specialty inspection, talk to your real estate agent.
For more than 20 years, the benefits of staging a home have been well documented. Numerous studies show that staging helps sell a home faster and for a higher price. According to the National Association of REALTORS®, 88 percent of homebuyers start their search online, forming impressions within three seconds of viewing a listing. When a home is well staged, it photographs well and makes the kind of first impression that encourages buyers to take the next step.
Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, it helps them begin to imagine living there. Homes that are professionally staged look more “move-in ready” and that makes them far more appealing to potential buyers.
According to the Village Voice, staged homes sell in one-third less time than non-staged homes. Staged homes can also command higher prices than non-staged homes. Data compiled by the U.S. Department of Housing and Urban Development indicate that staged homes sell for approximately 17 percent more than non-staged homes.
A measurable difference in time and money
In a study conducted by the Real Estate Staging Association in 2007, a group of vacant homes that had remained unsold for an average of 131 days were taken off the market, staged, and relisted. The newly staged properties sold, on average, in just 42 days, – which is approximately 68 percent less time on the market.
The study was repeated in 2011, in a more challenging market, and the numbers were even more dramatic. Vacant homes that were previously on the market for an average of 156 days as unstaged properties, when listed again as staged properties, sold after an average of 42 days—an average of 73 percent less time on the market.
Small investments, big potential returns
Staging is a powerful advantage when selling your home, but that’s not the only reason to do it. Staging uncovers problems that need to be addressed, repairs that need to be made, and upgrades that should be undertaken. For a relatively small investment of time and money, you can reap big returns. Staged properties are more inviting, and that inspires the kind of peace-of-mind that gets buyers to sign on the dotted line. In the age of social media, a well-staged home is a home that stands out, gets shared, and sticks in people’s minds.
What’s more, the investment in staging can bring a higher price. According to the National Association of REALTORS, the average staging investment is between one percent and three percent of the home’s asking price, and typically generates a return of eight to ten percent.
In short, less time on the market and higher selling prices make the small cost of staging your home a wise investment.
Interested in learning more? Contact your real estate agent for information about the value of staging and referrals for professional home stagers.