Blog • Buyers • Community • Equestrian Property • For Buyers • March 17, 2021

What to Consider Before Buying an Equestrian Property

by Windermere Windsor

Buying a horse property is a very different experience from a conventional home purchase. The first and most important step is to work with an experienced equestrian specialist, but there are some additional items you should also consider before buying.

Location, Location, Location

When looking at equestrian properties, one of the most important things to consider is location. You want to make sure the property is near resources you will need like feed and tack stores, local vets, and more. You should also consider everyday needs, such as groceries, gas, shopping, and community amenities.

Knowing Your Needs

Having a clear vision of your specific needs is a very important step when buying an equestrian property. For example, a casual rider doesn’t require the same capability and organization as a professional equestrian, and similarly, a professional will often need a horse property with strict specifications.

Property Features and Facilities

Something to consider is the soil type on the land you’re looking at. There are 12 different soil types and some of the best for horses are sandy, loamy, organic soils. Not only is this the best option for your animals, but these characteristics will also impact the quality of grasses for pasture growth. Whether you decide to pasture or hay feed, ensure there is adequate hay storage, especially for winter months when, depending on what part of the country you live in, grass may not be as ample.

Other important features to consider are:

Does it have indoor stalls?
Does it have multiple fenced pastures for rotating your livestock? This will ensure the ultimate health of your pasture and the grass that is produced.
Are riding trails nearby or will you have to trailer to get to trails?
Is there an indoor or outdoor arena? These are important for training, breaking, and even veterinary care, at times.
Does it have a secure tack room that rodents cannot penetrate?

Accessibility

Accessibility is another important factor to consider. This includes the convenience of your land but also important resources like water. Each horse will drink approximately 5-10 gallons of water per day; therefore, readily available potable water is vital. The accessibility of your horse property is crucial for bringing in vets, food supplies, and getting around quickly in emergencies. The navigation around your property should be easy to swiftly get from the home to the barn or other facilities. Suitable access to the barn with wide turnaround driveways is essential, which may include grading an additional access road.

Flexibility is Key!

The more specific your property criteria, the more challenging it may be to check everything off your wish list. While it’s important to know what you want from the property, it’s equally important to be open minded and realize that the property may require some extra work to meet all your needs.

Blog • Buyers & Sellers • For Buyers • Living • Relocation • March 15, 2021

Relocating for Remote Work

by Windermere Windsor

As the ubiquity of working from home continues, many homeowners are making the decision to move. Whether the motivation for relocating is to lower the cost of living, to be closer to family, or simply a fresh start, there are various factors to keep in mind when relocating for remote work.

Before You Relocate

Before you make the jump to a new life in a new place, making time for some strategic planning will help ensure your relocation goes as smoothly as possible. A logical first step is to consider the financial impact of your move. Depending on your company’s policy, there may be adjustments to your pay when you relocate. If this is the case, factor in your pay change as you form your relocation budget. Research the cost of living in your new hometown to understand how a compensation adjustment may affect your home search and your lifestyle once you move.

If you are moving out of state, relocating could affect your benefits and your taxes as well. There’s a chance that your employer’s health insurance plan does not offer coverage in the state you’re moving to. Talk to your employer to discuss your options. Before moving out-of-state, find out whether the two states have a reciprocal tax agreement, especially if you’re moving between states that have differing income tax regulations.

Your New Home for Remote Work

Working remote has given homeowners the freedom to choose their desired location, unbound by a work commute, especially if their company has indicated that there are no clear signs of returning to in-person work anytime soon. Knowing your desired work environment will help to tailor your home search. If you’re looking for peace and quiet while you work, explore listings in rural areas. If the hubbub of city life is your idea of a comforting backdrop, direct your attention to metropolitan areas.

For the remote worker, it’s more important than ever that your home accommodates your working needs. As many homeowners have experienced throughout the pandemic, you spend a great deal of time in your home office, so finding the home with the best workspace for you should be a priority. If you desire a private area where you can focus, a home with an open floor plan may not be the best choice. Instead, you may want to look for homes with a separate bonus room or extra bedroom.

Once you’ve moved into your new home, it’s time to put together your home office. Whether your previous home office was a professionally curated environment or a makeshift workspace in the corner of a room, a new home means a fresh start for your remote work. Like many homeowners, by now you’ve likely got a solid grasp on what your ideal home office looks like. Keep those elements alive when you relocate and enjoy productive workdays in your new home.

Blog • Buyers • Buyers & Sellers • Colorado Housing • Economy • Fun Facts • Home Owner • Home Owners • Mortgage • March 12, 2021

Enormous Equity

by Windermere Windsor

Hot off the press is the Core Logic Homeowner Equity Report. This is their quarterly look at what is happening with homeowners’ equity across the country.

Here are the staggering numbers coming out of their research:

Collectively, U.S. homeowners with mortgages have realized a $1.5 Trillion gain in equity over the last 12 months.
Only 2.8% of all mortgaged properties have negative equity meaning the home is worth less than the loan amount.
In Colorado, just 2.5% of homeowners have negative equity. For comparison, the percentage in Louisiana is 10.7%.

This research is one of many reasons why we don’t see any sort of impending housing crisis like we experienced in 2009. In the fourth quarter of 2009 for instance, 26% of all homeowners had negative equity.

Blog • Buyers • For Buyers • Fun Facts • March 5, 2021

Homebuilder Headaches

by Windermere Windsor

The National Association of Home Builders recently surveyed their members to ask them about the challenges they currently face and the challenges they expect to face.

Far and away, the biggest headache for homebuilders right now is the rising cost of building materials.

96% of the survey respondents cited this as a significant problem they faced in 2020 and 89% believe it will be a significant problem this year.

It turns out that builders are not only concerned about building material costs, but also the availability of those materials.

78% said availability was a significant problem last year and 80% said that it will be a significant problem in 2021.

Due to increasing materials costs, we notice builders locally having to raise their base prices significantly in order to keep up with rising costs.

Blog • Home Improvement • Home Owner • Living • March 4, 2021

Simple Bathroom Upgrades

by Windermere Windsor

The thought of upgrading a bathroom often brings to mind large-scale renovations, demolition, and hefty price tags. Even projects like replacing a backsplash or repairing tile can be more involved than you might think. However, it’s possible to give your bathroom a makeover without breaking the bank (or your back). Whether you’re looking to just freshen it up or make it feel like your own personal spa, these simple projects can help take your bathroom to the next level.

Upgrade your Décor

If you want to make a big splash without spending big money, consider upgrading your bathroom with new décor. A fresh coat of paint on the walls or a bold, patterned wallpaper can completely change the character of the space, while accent pieces like a new shower curtain and towel racks can reinforce your color choices. Installing shelving is a simple, functional tactic that gives dimension to your walls. Whether it’s in the shower, above your toilet, or beside your vanity, a shelf can save surface space while helping to tie the room together.

Upgrade your Tub

Upgrading your tub doesn’t have to mean buying a replacement. Simply refinishing your tub will have it looking brand new and helps you save money. Over time, tubs accumulate cracks, dings, and discoloration due to mold, but refinishing can cure these imperfections right away. Start by removing all hardware from the tub. Sand the whole surface, fill in any cracks or holes with putty or epoxy, then sand them smooth. Apply multiple layers of primer and topcoat, give it a buff, and enjoy your brand-new bathtub.

If refinishing your tub is too much to handle, consider simply touching it up. Fill in any cracks and apply a fresh line of caulking around the surface. After this is done, shop around for new tub hardware to polish off your cost-effective bathtub makeover.

Upgrade Your Vanity

With just a few tweaks, you can turn your vanity area from a mirror with counter space to an impactful centerpiece. Instead of going all out with a new cabinet install, simply replacing your cabinet hardware and drawer pulls can make a big difference. Think of ways your new hardware can reinforce the style of your bathroom. Match them with your shower rod, faucet, and showerhead to make your bathroom more eye-catching.

Your vanity also offers a great opportunity to add some color to your bathroom. Giving it a fresh coat of paint will help to liven up the space at a low cost. For wooden vanities, a re-stain is a great way to give them new life. Start by removing the doors and drawers. Apply wood stripping to all surfaces, then let them sit for the recommended time. Now you can begin to scrape away the old finish. Sand down all surfaces and apply the primer before staining the wood. Once your stain settles in, apply a second coat and your vanity will be good as new.

Finishing Touches

Well-organized surfaces and compartments will help to create serenity in your bathroom. Whether it’s in the shower, the medicine cabinet, or below the vanity, look for multipurpose organizers that help cut down on bathroom clutter and save space. Add in natural elements like bamboo and river rocks to make your bathroom feel like a soothing sanctuary.

For more ideas on affordable home makeovers, check out our tips for upgrading your bedroom, home office, and kitchen.

Blog • Broomfield Real Estate • Virtual Tour • March 2, 2021

Anthem Highlands Beauty!

by Windermere Windsor

Incredibly rare opportunity to own a 2019 Epic Homes “Escape” ranch model with 4 bedrooms, 4 bathrooms, an amazing finished basement and a split 3 car garage in the desirable Anthem Highlands. 16356 Ute Peak Way Broomfield, CO is an immaculately kept home stretches all the way from the welcoming front entry to the bright and spacious living room and includes luxurious finishes throughout the innovative layout. The gourmet kitchen has a stunning island, stainless steel GE Cafe appliances and a seamless transition to the covered back patio with speakers, lights and a gas line to put in your dream outdoor kitchen. The dual master bedrooms, both with ensuite bathrooms, feature coffered ceilings, walk-in closets and large windows. The expansive finished basement highlights a wet bar and large rec room. Home also features ELFA Closet Systems throughout, user-friendly and high-tech audio/visual systems, whole-home humidifier, electric vehicle charger, front and back landscaping, window coverings, and so much more! Contact Meaghan Nicholl at (970) 497-9045 for your private showing for more information or click the link below for more details.

https://windermerewindsor.com/listing/127450988

Blog • Buyers • Colorado • Fun Facts • Housing Trends • Larimer County • Market News • Market Update • Northern Colorado Real Estate • sellers • Windermere Real Estate • February 26, 2021

Days of Inventory

by Windermere Windsor

In the residential real estate industry, inventory is typically measured in months.

For example, the definition of a “sellers’ market” is when there is less than 4 months of inventory on the market. Meaning, at the current pace of sales, it would take less than four months to sell all the homes currently for sale.

Today it makes more sense to measure inventory in days instead of months.

Here is the number of residential properties currently listed for sale in each market:

Larimer County = 255
Weld County = 261
Metro Denver = 1,645

Here is the current pace of sales in each market:

Larimer County = 10/day
Weld County = 10/day
Metro Denver = 112/day

So, at the current pace of sales, this is how long it would take to sell all the residential properties currently for sale in each market:

Larimer County = 26 days
Weld County = 27 days

Metro Denver = 15 days

(more…)

Blog • Buyers • First Time Home Buyer • For Buyers • Mortgage • February 25, 2021

The Importance of Pre-Approval

by Windermere Windsor

To set yourself up for a smooth and successful home purchase, getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process.

The Pre-Approval Process

There is an important distinction to made between two important steps of your mortgage application process: pre-qualification and pre-approval. They are similar in that they both help to inform your financial standing, but there are key differences between the two.

Pre-qualification

Pre-qualification is the first step in your mortgage application process. It will help you to understand the approximate loan amount you can expect to qualify for. You’ll begin by sharing your financial information—debt, income, assets, etc.—with you bank or lender. After reviewing the information, the bank or lender will give a loan estimate. The process is relatively simple, only taking a few business days to process.

Pre-approval

The pre-approval process is more involved than pre-qualification. After submitting a mortgage application, your lender will require all the necessary info to conduct a thorough credit history check and review of your financial health. Getting pre-approved will give you a better idea of how much you can borrow, estimated monthly costs, and what interest rates you can expect on your loans. Mortgage pre-approvals are typically valid for 60 to 90 days.

Benefits of Pre-Approval

Credibility

The truth is, each home on the market can only go to one buyer. To maximize the chance that your offer is accepted, sellers need to know that your offer is serious. Getting pre-approved shows that you are financially prepared and, in the event that your offer is accepted, there will be no hold ups in obtaining your mortgage. This assurance is what sellers want to know about their potential buyers, especially in a seller’s market.

Home search

Not only does pre-approval help to bolster your case as a buyer, but it also Indicates your affordable price range. By knowing your budget, you will be able to hone your home search and start preparing offers, eliminating any potential wasted time looking at houses you can’t afford.

Closing process

Once your offer is accepted, you’ll be counting down the days to move-in. Unfortunately, the closing process can often drag on, leaving buyers feeling like they’re in post-purchase limbo. Pre-approval will speed up the closing process, since the mortgage approvals have already been taken care of, allowing you to focus on next steps like appraisals and inspections.

When to Get Pre-Approved

Being financially prepared for a home purchase is a solid indicator that you’re ready to go about getting pre-approved, but what does that look like? Buying a house means taking on serious debt, so it’s important to either have your remaining debt paid off or have a clear path to becoming debt-free before getting pre-approved. Having adequate savings for a down payment is a sign that you’re ready to make your offer. For any questions about the pre-approval process and to get connected to a mortgage professional, contact your Windermere agent.

Blog • Buyers • First Time Home Buyer • For Buyers • Fun Facts • Home Improvement • Home Owners • February 19, 2021

Double Lumber

by Windermere Windsor

The price of lumber has doubled in three months.

Lumber is just one of several examples of skyrocketing materials costs which are impacting both home builders and home buyers.

The cost of lumber is now at a record-level $1000 per 1000 board feet.

These rising costs not only add to the sales price of a home but also add to the inventory shortage issue. Some large, publicly-traded home building companies are slowing production in hopes of building costs dropping over the next few months.

Many people expected lumber prices to drop, or at least level off, when the tariff on Canadian lumber changed in December.

However, because demand has been so high from both building and remodeling, lumber costs continue to climb.

Home Improvement • Home Owner • Home Owners • Living • February 17, 2021

DIY Remodeling vs Professional Remodeling

by Windermere Windsor

Deciding whether to DIY a remodeling project or leave it to a professional is a matter of weighing the risks and rewards, time, and budget. Before you start applying a new coat of paint or go about knocking down a wall, create a plan for your remodel to help you decide which projects you can handle, and which ones belong in the hands of a pro.

Create Your Remodeling Plan

Knowing your plans for your remodel will help to determine your timeline and budget, which will inform your DIY-vs-Pro decision-making. Set specific goals for each project so you’ll know when you’re getting off track but remain flexible in your planning to leave room for any unexpected hurdles that will inevitably pop up in the remodeling process. Your budget will also help you decide who should execute certain projects. For example, if you’re budgeting more for a kitchen remodel than any other project, that is a likely candidate for professional help.

If you’re having trouble deciding the best route to take with your remodeling projects, ask yourself the following questions:

What risks am I comfortable taking on?
How much time am I willing to dedicate to this project?
Does this project require a permit?
Do I have any experience with this kind of remodel?
Am I comfortable giving up control of this project?

DIY Remodeling Pros and Cons

Pros: Taking a DIY approach to remodeling projects pays dividends in many ways. Without having to pay labor costs, you stand to save significant money by tackling a project on your own. Going DIY also allows you to set your own schedule for the project. And of course, the sense of ownership and pride you will feel knowing you completed the project on your own is a priceless feeling for a homeowner.

Cons: DIY projects can be consequential. Mistakes at any point in the renovation process can lead to greater costs and sometimes, hiring a professional to fix the mistake. Unfortunately, this can result in the loss of significant time and money.

Professional Remodeling Pros and Cons

Pros: Professionals are inherently more experienced, bringing their specialization to the table on every home renovation project, so you can expect them to perform high-quality work that will increase the value of your home.

Cons: Getting professional quality work means paying for it. When budgeting, expect higher costs for any project you’re thinking of outsourcing to a pro. Bear in mind that, especially for large-scale renovation projects, your home will become a construction site. Accordingly, you may need a back-up plan, such as a temporary kitchen set-up or a short-term rental home .

DIY Remodeling vs Professional Remodeling: Around the House

The following list breaks down which projects are typical DIY candidates and which ones homeowners commonly opt for professional help to complete. However, the decision is ultimately up to you. If you have your heart on tackling a project on your own, gather your tools and make it happen!

Kitchen

Professional: Any large-scale structural changes, new gas lines, or new plumbing projects should be handled by a professional.
DIY: Simpler kitchen projects like a backsplash or faucet replacement and any cabinet finishing tasks are perfect DIY candidates.

Bathroom

Professional: Plumbing installation, running electricity, or any projects involving an expansion or alteration to your bathroom structure.
DIY: If your bathroom is simply in need of some new tile work, basic medicine cabinet restoration, or minor flooring improvements, roll up your sleeves and DIY.

Backyard

Professional: Consider hiring a professional for any significant outdoor projects like concrete builds, in-ground pools, and technical deck work.
DIY: Common backyard DIY projects include building a garden tool shed, building a fence, and refinishing a deck.

General

Professional: It is best to hire pros for new roofing, any foundation work, and extensive demolition projects. For asbestos and drywall finishing, it’s easiest, and safest, to go with the pros.
DIY: Any interior painting projects, basic electrical work, or simple trim and door upgrades.

If you’re planning on going through a remodel while you live at home, read this first. For more information on how certain renovations may impact the value of your home, talk to your Windermere agent.