Fun Facts • February 10, 2023

Jobs Bounce

by Windermere Windsor

As the job market goes, so goes the housing market. This is a fact about any primary housing market.

If employment is growing, the housing market will keep growing.

One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back.

Not only has employment recovered, it now exceeds pre-pandemic levels.

Northern Colorado unemployment is now down to 4.1%.

These facts were reported by our Chief Economist Matthew Gardner during our annual Market Forecast event.

If you would like to see any of the slides from the presentation, please let us know.

Fun Facts • February 3, 2023

Equity Rich

by Windermere Windsor

Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event.The term ‘equity rich’ is defined as someone who has at least 50% equity in their home.For example, if someone owns a home worth $500,000 and their mortgage balance is less than $250,000, they are ‘equity rich.’A whopping 57% of Larimer County homeowners and 46% of Weld County homeowners are equity rich.To put that in perspective, in 2015 there were roughly 20% of Northern Colorado homeowners who had this much equity in their homes.This level of equity is one of many reasons Northern Colorado is protected from any sort of severe market downturn resulting from an excessive amount of distressed properties hitting the market.

New Listings • January 30, 2023

New Listings January 2023

by Windermere Windsor

Welcome to Settlers Village! 794 S Pioneer Drive is an immaculate 3 bedroom, 2 bathroom ranch style home situated on a corner lot and is perfect for entertaining. The home boasts an open floor plan with vaulted ceilings in the living room and dining nook. LVP flooring has been installed on the main level and granite countertops are throughout the home. On a gorgeous summer afternoon and evening, picture relaxing under the beautifully built gazebo with electric and lighting in the backyard. The yard is also fully enclosed with a wood privacy fence. This home has so much to offer! Schedule your showing today! Call (970) 401-0123 to schedule a private tour or click here for more information!

Rondi duPont | MLS# 980004

Situated on a corner lot, 1422 88th Avenue has plenty of elbow room. Between the spacious kitchen/dining area, large covered front porch, and covered back deck there is more than enough space for entertaining. This property also features an open floor plan, vaulted ceilings, upgraded finishes, newer stainless appliances, tile backsplash, and wood flooring. Additionally, the 5-piece primary suite includes a newly tiled shower. This home also has an oversized 3-car tandem garage. Seller is a licensed broker. Call (970) 590-9860 to schedule a private tour or click here for more information.

Angie Clauser | MLS# 980269

Welcome home to 3026 54th Avenue! If you need extra space for toys, tools, and hobbies, look no further. Featuring an attached 3 car garage AND a detached heated and cooled shop, this is a rare find. 4 bedrooms plus an office or dining room.This home backs to open space with beautiful mature landscaping. Owned Solar Panels (installed in 2019) provide you with a minimal electric bill (no lease payment!) This home has been pre-inspected for your peace of mind and necessary repairs have been completed. Many updates have been done over the last few years including a new roof in 2019 (class IV shingles), newer kitchen appliances, refaced cabinets, new countertops, updated furnace/AC, two water heaters, and fresh interior paint/carpet cleaning last month. Easy access to shopping, restaurants, and Highway 34 make this the perfect place to call home. Call (970) 573-2620 to schedule a private tour or click here for more information.

Kelsey Vandemark | MLS# 980174

352 Zeppelin Way is a meticulously cared-for Paired Home in Mosaic! This 2 bedroom, 3 bathroom with a loft is perfect for someone looking for a move-in ready home in Fort Collins! The open floor plan lends itself beautifully to entertaining. Chefs will swoon over the kitchen which boasts a farmhouse sink, quartz countertops, upgraded cabinets, soft-close drawers, and pullouts in the lower cabinets. The main level has LVP flooring throughout and the second level has newly installed carpet. As you enter from the garage the built-in hooks, cubbies, and landing zone desk are extremely convenient to keep the home tidy. The home is located on a corner to give you a little more elbow room with a completely fenced backyard for privacy. The basement is unfinished to customize to your liking. This home is so bright, airy, and full of charm you won’t be disappointed! Don’t forget the neighborhood has 2 pools and a park to enjoy! Call (970) 401-0123 to schedule a private tour or click here for more information.

Rondi duPont | MLS# 980735

Welcome home to 2565 Trio Falls Drive, a beautiful townhome with amazing views of the mountains and Boyd Lake! The home features an open floor plan with a great flow. The kitchen highlights granite countertops, stainless steel appliances, gas stove, and a large island. Engineered hardwood flooring throughout, 3-car garage, large primary suite with views, and plenty of storage. Enjoy multiple outdoor entertainment areas and watch the gorgeous mountain sunsets. All kitchen appliances, clothes washer, and clothes dryer included. The desirable Lakes at Centerra neighborhood has a great clubhouse with a pool, community garden plots, and walking trails not to be missed. Close to shopping & restaurants! The house has been pre-inspected and is ready to make a great home! Call Caleb at 970-889-3796 to set up a private showing or click here for more information.

Caleb Cheshier | MLS# 981140

Welcome home! 564 Mariana Pointe Drive is a beautiful, Charter built, 3 bedroom, 3 bathroom patio home is located in the coveted Mariana Butte neighborhood. You will feel right at home with everything you need on the main level. The spacious Primary bedroom and luxury Primary bathroom with a large walk-in closet, laundry room and home office are all on the main level. Enjoy beautiful Colorado evenings on the expansive back deck. You will enjoy walking right up the street to golf at the Mariana Butte golf course or hike the Butte itself. In the beautifully finished basement you will find 2 additional bedrooms and a lovely updated bathroom, as well as a large family room with a fireplace, and a very sizeable storage room with ample space for all of your storage needs. Call (970) 703-4112 to schedule a private tour or click here for more information.

Karla Laferriere | MLS# 981108

Fun Facts • January 27, 2023

Luxury Stats

by Windermere Windsor

The numbers are in. 2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past year compared to 2019 was up by a whopping 133%.Sales of luxury properties is usually a good indicator of the overall health of the market.

The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1st at 5:30pm. To see the details and to RSVP, visit www.ColoradoForecast.com

Fun Facts • January 20, 2023

No Bear

by Windermere Windsor

Altos Research is one of the most trusted sources of real estate market information in the United States. Each week they track every single home for sale across the Country. They analyze the pricing, supply, demand, and status changes for all listings. This amount of data allows them to expertly predict changes in the market.

Their founder, Mike Simonsen, recently said this about the current state of the real estate market:

“The most important thing to take away is that the most bearish scenarios for home prices this year are not taking place. If a buyer is sitting on the sidelines waiting for a home price crash, in general across the country that’s not happening.

“We can measure demand and the direction of future sales prices by looking at the percent of homes on the market with price reductions. This number, frankly, is lower than I would have expected given how few buyers were out in the fall. This a sign that sellers are not panicking and that smart, properly priced listings are getting their offers.”

The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1^st at 5:30pm. To see the details and to RSVP, visit www.ColoradoForecast.com

Fun Facts • January 13, 2023

Versus 2019

by Windermere Windsor

Because 2021 and 2020 were such unique years in real estate because of the considerably low interest rates, many people in our industry believe it makes sense to compare 2022 to 2019 when looking at the key statistics.

Here’s how 2022 looked along the Front Range compared to 2019:

Prices Number of Transactions Properties for Sale

Larimer County +41% -6% -37%

Weld County +39% +2% -16%

Metro Denver +40% -14% -6%

Generally, what we notice is that:

Prices are up significantly
The number of transactions is similar
Inventory is down compared to 2019 even though it is more than double 2021’s inventory

The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1^st at 5:30pm. To see the details and to RSVP, visit www.ColoradoForecast.com

Fun Facts • January 6, 2023

RSVP Time

by Windermere Windsor

There are four key questions that our clients have right now:1. What will values do this year and is there any chance of a housing bubble?2. When will mortgage rates drop below 6%?3. Will inflation subside this year?4. Is now a good time to buy or sell? All of these questions will be answered by our Chief Economist Matthew Gardner on February 1st at our annual Market Forecast. Fun Fact, Windermere is the only real estate brokerage in the United States with a Chief Economist. You can RSVP for Matthew’s lively and informative presentation at ColoradoForecast.com.The Windermere Forecast is at 5:30pm on Wednesday, February 1st at the Fort Collins Marriott.

Fun Facts • December 16, 2022

Incentivized

by Windermere Windsor

More than 75% of all new home builders are using interest rate buydowns as a way to attract buyers to their communities.This is according to new research by John Burns Real Estate Consulting.Builders are fronting several thousand dollars on behalf of their buyers so these buyers can have a lower rate for the first few years of the loan, or in some cases the whole life of the 30 year loan. New home builders with completed homes or ‘standing inventory’ are especially motivated as this type of inventory is costly for the builder to carry.This kind of product offers a terrific opportunity for buyers looking to move soon and who desire a lower interest rate.

Fun Facts • December 9, 2022

Way Under

by Windermere Windsor

The Nation’s real estate market is significantly under-supplied.According to the most recent research from Freddie Mac, the United States has a housing supply deficit of 3.8 million units.The available inventory today is lower than it has ever been in the last 40 years and is 3.5x lower than the peak of 2008.The reason why available inventory is so low, is the low amount of new home starts that have occurred over the last 15 years.Builders have faced many obstacles trying to keep up with housing demand including supply chain issues, labor supply, land availability, water availability, and stricter approval processes.Fewer new homes were built in the decade ending 2018 than any other decade since the 1960’s.The reality is, the obstacles builders face are unlikely to change significantly in the foreseeable future.Low inventory is likely to persist.An under-supplied market is a key reason leading economists do not expect home prices to crash even while the market cools off.

Fun Facts • December 2, 2022

Mis-Led

by Windermere Windsor

The most misleading stat about the housing market is increase in inventory. The number of properties for sale is up significantly compared to last year. In most locations along the Front Range, inventory has doubled.This is obviously great news for buyers because they now have more choice.This is obviously meaningful for sellers because they now have more competition.But, it does not mean there is a glut of inventory. It does not mean that we are now, all of a sudden, over-supplied.Quite the contrary. The market is still undersupplied. There would need to be at least double the amount of homes for sale for Front Range real estate to begin to be balanced.The increase in inventory, being so large, gets a lot of attention in the media and can sometimes be taken the wrong way.Yes, inventory has doubled. But, it has doubled compared to all time lows.Freddie Mac reports that Nationally, the market is undersupplied by 3.8 million housing units.So, the increase in homes for sale is a good thing for the market and is nothing like a glut of inventory.