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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.
Days of Inventory
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
The Importance of Pre-Approval
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.
Double Lumber
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.
DIY Remodeling vs Professional Remodeling
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.
Yes is the Answer
It turns out that ‘yes’ is the answer to the most common questions we hear right now about the market…
Do you think more properties will come on the market this Spring? Yes, the normal pattern in our market is for new listings to be 40% to 70% higher in April versus January. The peak month for new listings is typically June.
Do you think buyer demand will grow even more as time goes on? Yes, for two main reasons. Buyer activity, just like listing activity, increases significantly in the Spring and Summer. Plus, we expect the economy to open up even more as the COVID vaccine gets rolled out over the course of the year.
Do you think interest rates will go up? Yes, all of the trusted forecasters and economists expect rates to be slightly higher by the end of the year. Our own Chief Economist sees rates at 3.07% by year-end.
Do you think prices will keep rising? Yes, because of the simple economic forces of supply and demand. Supply is at historic lows. The number of properties for sale today is roughly 80% below the average. Demand is being fueled not only by the low-interest rates, but also a rebounding local job market that is poised to rebound even more. Plus, the new work-from-home dynamic positions the Front Range as a sought after place to live.
10 Tips for Valentine’s Day at Home
Valentine’s Day is a time for exchanging gifts, indulging your sweet tooth, and spending time with your significant other. Of all the places you and your Valentine could be, where better to spend the day, than in the place you love most: home sweet home. Let this list of ideas inspire your day at home with the one you love.
Tips for Valentine’s Day at Home
- Breakfast in bed: Kick off your Valentine’s Day by preparing breakfast in bed. Surprise your Valentine by waking up early to get a jumpstart on decadent breakfast classics like pancakes, an omelet, or frittata, or keep it simple with donuts and coffee.
- Create an at-home spa: Couples massages are a fitting indulgence for Valentine’s Day. Fortunately, you can create the same experience at home. Set the mood by lighting candles and putting on some relaxing music. Take turns applying facial masks and giving each other massages to put you both in a state of relaxation.
- Scavenger hunt: Combine the thrill of adventure and your memories as a couple with a scavenger hunt around the house. Create clues tied to memories of your relationship and hide them room-by-room, letting the answer to each clue lead to the next. Get creative and plan something special for discovering the final clue!
- What’s for dinner? Spending this special day at home gives you and your Valentine countless options for dinner. If you feel like keeping the kitchen quiet, order in your favorite meal. Otherwise, your culinary team of two can try your hand at a Valentine’s Day staple—fondue. For the full fondue experience, go for three courses: a broth fondue to open the palette; a cheese fondue to pair with bread, sliced meats, and charcuterie; and a chocolate fondue with fruit and pound cake bites to top it all off.
- Plan a game night: Add some fun to your Valentine’s Day itinerary by setting aside time to play games. A game will help you and your Valentine relax and have a laugh between the food, drinks, and chocolate. Grab a deck of cards for classic two-player games like Go Fish, Crazy Eights, War, and Rummy. Add in a game of truth or dare or charades to kick your game night into high gear.
- Paint and sip: Keep the creative juices flowing this Valentine’s Day at home with a paint-and-sip activity. It’s simple: pick out your favorite wine, set up two easels, and choose a reference image to paint. For some extra laughs, face each other and paint one another’s portrait.
- Dance the night away: Make dancing an integral part of your day at home with your Valentine. Whether slow jams or ballroom classics are more your style, pick out a playlist and turn your living room into a dancefloor.
- Save room for dessert: Be sure to save room for the tastiest part of Valentine’s Day—dessert. Whether you put on the aprons and make dessert together or pick something up from your favorite bakery or chocolatier, no Valentine’s Day would be complete without it. Red Velvet Cake, dark chocolates, cheesecake, and brownies are just some of the can’t-miss classics for you and your partner to enjoy after dinner.
- Cuddle up for a movie: At the end of your busy day together, cuddle up, settle in, and turn on a movie. Valentine’s Day is the perfect occasion for a romantic drama or rom-com.
- Look to the future: Valentine’s Day is also a time to reflect on the love in your household and where you are headed in the future. What plans or changes lie ahead? How does your home fit with the changes you see coming?
From all of us at Windermere, we wish you and your Valentine a Happy Valentine’s Day!
Spacious Beauty!
Warm and inviting, 7008 Shangri-La Ct Fort Collins, CO is a 3-4 bed, 4 bath, 2-story with exceptional upgrades to include bright open floor plan, beautifully finished basement, vaulted living room, extensive hardwood floors, pantry, gas fireplace, en-suite master bath, upgraded lighting w/dimmers, wired for 5.1 surround sound speakers, Trex-type deck, backs to green belt, SW facing driveway, quiet Cul-de-sac, storage shed, fenced yard, sprinklers, central A/C, covered porch and enjoy area pool, clubhouse, tennis court, separate park. Contact Angie Clauser at (970) 590-9860 for your private showing for more information or click the link below for more details.
West Fort Collins Condo!
1704 Pecan Street 1A is an adorable condo in desirable West Ft. Collins that’s close to CSU’s campus, Horsetooth Reservoir, the foothills, and so much more, this is an opportunity you’ll simply not want to miss out on in this HOT market! This property features two large bedrooms, two bathrooms and an attached one-car garage, plus an additional parking space designated in front of unit. Enjoy foothills views from the private covered balcony off the primary bedroom or the fenced-in side yard with mature landscaping offering plenty of summertime shade. Be sure to soak in year round enjoyment in the sunroom offering flex space for hobbies, home office, etc. So much storage offered in this place! Association fees are $215/mo and include pool access! Downstairs half bath and laundry room remodeled and new roof in Nov ’20. Upstairs bathroom remodeled in Jan ’17. Beautifully done engineered hardwood floors throughout the living room and sunroom and tile in the kitchen. Wonderfully maintained home makes this a rare find! Contact Meaghan Nicholl at (970) 497-9045 for your private showing for more information or click the link below for more details.
Gorgeous Patio Home on the Lake!
Wouldn’t you love to live in a resort-like golf community right on the water? Look no further! 1509 Waterfront Dr Windsor, CO is a well-maintained 3 bedroom 4 bathroom patio home that provides unobstructed waterfront views, private beach access and an oversized custom System Pavers patio and pergola perfect for entertaining or relaxing. Admire the waterfront view from the living room through the oversized sliding glass door and enjoy gathering in the open kitchen offering granite countertops, custom cabinetry, and immediate access to a patio for outdoor cooking. This home features an expanded garage, a spacious main floor master complete with 5-piece master bath and large walk-in closet as well as main floor laundry and half bath and two additional bedrooms with walk-in closets and dedicated bathrooms. Don’t miss the all new fresh and professionally done paint throughout the main and second levels. This property is in great condition and lived in by only one owner since being built. New water heater 8/24/20! 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/125012190
