83 Miles Per Hour

Pretend you have been driving on the Interstate at 100 miles per hour. 

Also, pretend you have been doing that for a long time.

Now pretend you slow down to 83 miles per hour.

How would that feel?

It would probably feel slow, right?

83 miles per hour is a 17% decrease from 100. It may feel slow, but it’s still pretty fast.

How does this relate to real estate?

Well, the market has been moving fast for a long time.

It’s been going 100 miles per hour for at least two years (some would argue even longer).

We’ve recently seen a 17% change in terms of number of transactions that are occurring.

There were 17% fewer sales in October 2018 versus October 2017 in Metro Denver.

It feels slow because we’ve been driving so fast for so long. But, our market is still moving.

For example, prices are still up. So, remember, that it’s all relative.

Posted on November 9, 2018 at 4:04 pm
Windermere Windsor | Category: Blog, Fun Facts, Housing Trends, Market News | Tagged , , , , , , , ,

Good News for Buyers

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!

Posted on November 2, 2018 at 8:02 pm
Windermere Windsor | Category: Blog, For Buyers, Fun Facts, Market News, Northern Colorado Real Estate, Windermere Real Estate | Tagged , , , , , ,

Wonderfully Maintained Condo!

Come see this well maintained condo at 1602 Edora Road! This condo is close to schools, shopping, and I-25. It offers new carpet, new windows, a newly refinished bathroom, and fresh paint throughout the entire home, even the garage!  Has a fenced back yard.  This condo sits on a crawl space shared with the two other units. Call the listing agent for a tour! Contact Stephanie Woodard for more information or click below to view the photos and details, including price.

http://windermerenoco.com/listing/87912879

Posted on October 26, 2018 at 5:56 pm
Windermere Windsor | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , , , , , , , , , , , , , , ,

FUNdamentals

 

 

In times of change (like now), it’s valuable to look at the fundamentals of our market.

Let’s have some fun with fundamentals…

1.  Our economy is healthy – since 1990, the unemployment rate in Colorado has never been higher than the U.S. unemployment rate.  Ever.  Unemployment in Colorado sits at 2.7% today while the rate across the U.S. is 4.0%.

2.  People keep moving here – since 2005 our population has grown by just over a million people which is roughly 77,000 per year (about the size of Mile High Stadium).

3.  Our real estate outperforms other places – according the Federal Housing Finance Authority, Colorado is the #1 state for home price appreciation since 1990.

Posted on October 26, 2018 at 2:57 pm
Windermere Windsor | Category: Blog, For Buyers & Sellers, Fun Facts, Market News | Tagged , , , , , , ,

A History Lesson

One of the most common questions we hear from clients is “Where do you think interest rates are going?”

Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work that are pushing rates higher.

So, how about a little history lesson? How do today’s 30- year mortgage rates compare to this same date in history going all the way back to 1990?

• Today = 4.85%
• 2017 = 3.94%
• 2015 = 3.82%
• 2010 = 4.27%
• 2005 = 5.98%
• 2000 = 7.84%
• 1995 = 7.75%
• 1990 = 10.22%

While today’s rates feel high only because they are higher than 2017, they are quite a bit lower than at many times in history.

Posted on October 19, 2018 at 3:29 pm
Windermere Windsor | Category: Blog, Economy, Fun Facts | Tagged , , , , , , ,

Charming Bungalow in Eaton

This sweet bungalow at 420 Park Ave located in picturesque Eaton! Much updating has already been done, with fresh paint and newly refinished original hardwoods in living room and front bedroom. All new quality stainless appliances await a kitchen update which has already been started. Storage is abundant with vintage built-ins in the converted entry/office and cabinets in the mudroom and enclosed porch. Great landscaping with alley access, no HOA! Treasure the joy of old town living at an affordable price! Contact Casey Brown for more information or click below to view the photos and details, including price.

http://windermerenoco.com/listing/87272051

Posted on October 4, 2018 at 5:35 pm
Windermere Windsor | Category: Eaton Real Estate, Windermere Real Estate | Tagged , , , , , , , , , , , ,

How We Rank

Here’s how the largest Colorado cities rank on the most recent Federal Housing Finance Authority’s quarterly report.  They study the appreciation rate in 245 metropolitan areas all over the country.

City                        Rank                Appreciation

Boulder                        65th                   8.76%

Colorado Springs      15th                    11.54%

Denver                        30th                    10.16%

Fort Collins                85th                    7.51%

Grand Junction         58th                   9.01%

Greeley                        45th                    9.51%

Posted on September 21, 2018 at 9:25 pm
Windermere Windsor | Category: Blog, Fun Facts | Tagged , , , , , ,

Charming Home in the Heart of Fort Collins

This beautifully remodeled home at 515 10th Street is located in the heart of Fort Collins provides easy access to Old Town Fort Collins, breweries, CSU, I-25 and the Poudre Trail! This home sits on a spacious lot with a recently finished privacy fence, storage shed and beautiful landscaping in the back yard. Featuring stainless steel kitchen appliances, granite counter tops, sliding barn door, private driveway, as well as mature trees and landscaping. This home surely won’t last long! Contact Meaghan Nicholl for more information or click below to view the photos and details, including price.
Posted on August 30, 2018 at 6:39 pm
Windermere Windsor | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , , , , , , , , , ,

Unique Opportunity on Main Street in the Windsor Central Business District!

This home at 212 10th St is a phenomenal value as zoning allows for conversion to commercial. Close to schools and shopping. All brick ranch 4 bed 3 bath with attached garage. This home features a large living area and covered back porch. Freshly painted interior and new hardwood floors. Central A/C is not currently working. Contact John Taylor for your private showing at 970-541-1003 for more information or click the link below for more details.

http://windermerewindsor.com/listing/82387370

Posted on August 6, 2018 at 3:00 pm
Windermere Windsor | Category: Virtual Tour, Windsor Real Estate | Tagged , , , , , , , , , , , , ,

Colorado Real Estate Market Update

 

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

ECONOMIC OVERVIEW

It’s good news for the state of Colorado, which saw annual employment grow in all of the metropolitan markets included in this report. The state added 63,400 non-agricultural jobs over the past 12 months, an impressive growth rate of 2.4%. Colorado has been adding an average of 5,300 new jobs per month for the past year, and I anticipate that this growth rate will continue through the balance of 2018.

In February, the unemployment rate in Colorado was 3.0%—a level that has held steady for the past six months. Unemployment has dropped in all the markets contained in this report, with the lowest reported rates in Fort Collins and Denver, where 3.1% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 4.6%.

HOME SALES ACTIVITY

  • In the first quarter of 2018, there were 11,173 home sales—a drop of 5.6% when compared to the first quarter of 2017.
  • With an increase of 5.3%, home sales rose the fastest in Boulder County, as compared to first quarter of last year. There was also a modest sales increase of 1.2% in Larimer County. Sales fell in all the other counties contained within this report.
  • Home sales continue to slow due to low inventory levels, which were down 5.7% compared to a year ago.
  • The takeaway here is that sales growth continues to stagnate due to the lack of homes for sale.

HOME PRICES

  • Strong economic growth, combined with limited inventory, continued to push prices higher. The average home price in the markets covered by this report was up by 11.7% year-over-year to $448,687.
  • Arapahoe County saw slower appreciation in home values, but the trend is still positiveand above its long-term average.
  • Appreciation was strongest in Boulder County, which saw prices rise 14.8%. Almost all other counties in this report experienced solid gains.
  • The ongoing imbalance between supply and demand persists and home prices continue to appreciate at above-average rates.

DAYS ON MARKET

  • The average number of days it took to sell a home dropped by three days when compared to the first quarter of 2017.
  • Homes in all but two counties contained in this report took less than a month to sell. Adams County continues to stand out where it took an average of just 17 days to sell a home.
  • During the first quarter, it took an average of 27 days to sell a home. That rate is down 2 days from the fourth quarter of 2017.
  • Housing demand remains strong and would-be buyers should expect to see stiff competition for well-positioned, well-priced homes.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. In the first quarter of 2018, I have left the needle where it was in the fourth quarter of last year. Even as interest rates trend higher, it appears as if demand will continue to outweigh supply. As we head into the spring months, I had hoped to see an increase in the number of homes for sale, but so far that has not happened. As a result, the housing market continues to heavily favor sellers.

 

Posted on April 30, 2018 at 8:23 pm
Windermere Windsor | Category: Economy, For Buyers & Sellers, Fort Collins Real Estate, Housing Trends, Northern Colorado Real Estate, Windermere Real Estate | Tagged , , , , ,