Blog • Colorado • March 6, 2019

Is Condo Ownership Right for You?

by Windermere Windsor

Condominium homes are a great, low-maintenance choice for a primary residence, second home, or investment property. This alternative to the traditional single-family home has unique issues to consider before buying, as well as unique benefits. Here’s some background information to help you decide whether purchasing a condo is a good match for you.

The popularity of condominiums with baby boomers and young professionals continues to surge. Condo sales are up 23 percent from 2013 with a medium price of $209,600 according to the National Association of Realtors. Many buyers are realizing that condominium homes can be a great way to enjoy the benefits of home ownership combined with extensive amenities and a low-maintenance lifestyle.

Increasingly, condos are not just for first-time homebuyers looking for a less expensive entry into the housing market. Empty-nesters and retirees are happy to give up mowing the lawn and painting the house. Busy professionals can experience luxury living knowing their home is safe and well-maintained while they are away on business. If you are considering buying a condominium for a home, here are a few things you should know:

Condominium basics:

With condominiums, you own everything in your unit on your side of the walls. Individual owners hold title to the condominium unit only, not the land beneath the unit. All owners share title to the common areas: the grounds, lobby, halls, parking areas and other amenities. A homeowners’ association (HOA) usually manages the complex and collects a monthly fee from all condominium owners to pay for the operation and maintenance of the property. These fees may include such items as insurance, landscape, and grounds upkeep, pool maintenance, security, and administrative costs.

The owners of the units in a condominium are all automatic members of the condo association. The association is run by a volunteer Board of Directors, who manage the operations and upkeep of the property. A professional management company may also be involved in assisting the board in their decisions. The condo association also administers rules and regulations designed to ensure safety and maintain the value of your investment. Examples include whether or not pets are allowed and the hours of use for condominium facilities, such as pools and work-out rooms. Should a major expense occur, all owners are responsible for paying their fair share of the expense.

The pros and cons of condominium living:

The condominium lifestyle has many benefits, but condominium ownership isn’t for everyone. Part of it depends on your lifestyle. Condominium living may not be optimum for large families with active kids. The other factor is personal style. By necessity, condominium associations have a number of standardized rules. You need to decide whether these regulations work for you or not. Here are some points to keep in mind if you’re considering condominium living.

Cost: Condominium homes typically cost less than houses, so they’re a great choice for fist-time buyers. However, because condominiums are concentrated in more expensive locations, and sizes are generally smaller than a comparable single-family home, the price per square foot for a condominium is usually higher.

Convenience: People who love living in condominiums always cite the convenience factor. It’s nice to have someone else take care of landscaping, upkeep, and security. Condominium homes are often located in urban areas where restaurants, groceries, and entertainment are just a short walk away.

Luxury amenities: May condominiums offer an array of amenities that the majority of homeowners couldn’t afford on their own, such as fitness centers, clubhouses, wine cellars, roof-top decks, and swimming pools. Lobbies of upscale condominiums can rival those of four-star hotels, making a great impression on residents.

Privacy: Since you share common walls and floors with other condominium owners, there is less privacy than what you’d expect in a single-family home. While condominiums are built with noise abatement features, you may still occasionally hear the sound of your neighbors.

Space: With the exception of very high-end units, condominiums are generally smaller than single-family homes. That means less storage space and often, smaller rooms. The patios and balconies of individual units are usually much smaller as well.

Autonomy: As a condominium owner, you are required to follow the laws of the associations. That means giving up a certain about of control and getting involved in the group decision-making process. Laws vary greatly from property to property, and some people may find certain rules too restrictive. If you long to paint your front door red or decorate your deck with tiki lanterns, condominium living might not be for you.

Things to consider when you decide to buy:

Condominium homes vary from intimate studios to eclectic lofts and luxury penthouses. The right condominium is the one that best fits your lifestyle. Here are a few questions to ask to determine which condominium is right for you.

How will you use it?

Will your condominium be your primary residence? A second home? An investment property? While a studio may be too small for a primary residence, it might be a perfect beachfront getaway. Also consider how your lifestyle may change over the next five to seven years. If you are close to retirement, you may want to have the option of turning a vacation condominium into your permanent home.

Where would you like to live?

Some people love the excitement and sophistication of urban living. Others dream of skiing every weekend. Whether it’s the sound of the surf or the lure of the golf course, a condominium home affords you the ability to live a carefree lifestyle in virtually any setting.

What amenities are most important to you?

The variety of condominium amenities increases each year. Decide what you want, and you can be assured of finding it. Most urban and resort condominiums have an enticing array of extras, from spas to movie screening rooms to tennis courts.

What are your specific needs?

Do you have a pet? Some associations don’t allow them; others have limitations on their size. Parking can be a major issue, especially in dense, urban areas. How many spaces do you get per unit? Do you pay extra if you have more vehicles?

Finally, once you’ve found a property you like, examine the association’s declaration, rules, and bylaws to make sure they fit your needs. The association will provide you with an outline of their monthly fees and exactly what they cover so you can accurately budget your expenses.

Review the association board’s meeting minutes from the past year to get an idea of any issues the association is working on. An analysis of sales demand and property appreciation compared to like units may help ensure that you make the best possible investment.

Blog • Colorado • Home Owners • Housing Trends • March 5, 2019

The Do’s and Don’ts of Hiring a Contractor

by Windermere Windsor

Constructing or remodeling a home is a complex, expensive endeavor. Ideally, everything goes as planned, and when the dust clears, the homeowner can settle in and enjoy the new home — and never think about the building process again.

But what happens when, nine months after the owner moves in, the floor develops a crack, the dishwasher begins to leak or the shower water won’t run hot? Or when these things happen three years later? It’s time to refer to an all-important piece of the contract: the warranty.

What Is a Warranty?

The purpose of a warranty is to protect both the homeowner and the builder — homeowners from shoddy work with no recourse; builders from being liable for projects for the rest of their lives.

A warranty may be included in a contract, or it may not be since it’s not required. There is no standard length of time for one. Rather, a warranty is a negotiable portion of the overall agreement (contract) between a homeowner and a contractor.

The laws that relate to warranties are somewhat vague and vary by state, so the advantage of having one as part of the contract is that everything can be clearly spelled out. However, by agreeing to a particular warranty without understanding its finer points, owners may inadvertently limit the protections they would have otherwise had under the law.

“A warranty describes the problems and remedies for which the builder will be responsible after completion of the project, as well as the duration of the warranty and the mechanism for addressing disputes,” says David Jaffe, vice president of legal advocacy at the National Association of Home Builders.

At least in the ideal case.

The Law Governing Warranties

Before homeowners agree to a particular warranty as part of their contract, it’s important to understand what protections they already have under the law. In the U.S., we have a legal concept of an implied warranty — which is a warranty that does not have to be spelled out in the contract but is simply understood to exist thanks to the law. There are two important implied warranties when it comes to home construction.

The first is the implied warranty of good workmanship, which is the reasonable expectation that a home will be built in a workmanlike manner. The second is the implied warranty of habitability, which is the reasonable expectation that the home will be safe to inhabit.

The implied warranties, however, have limits in the form of statutes of limitation and statutes of repose, which essentially are time clocks that determine for how long a homeowner may sue a contractor.

Statutes of limitation in each state dictate how long an owner can invoke various types of legal claims — for example, a breach of contract claim.

Statutes of repose apply specifically to construction projects and set the time for which builders and designers are liable for their product. These also vary by state. In California, the statute of repose is four years for most defects, but 10 years for latent defects (those that aren’t observable right away, such as a faulty foundation). In Georgia, the statute of repose is eight years for all claims related to the design or construction of the building.

Finally, most states also have a right to repair law, which means that before homeowners can sue a contractor, they need to notify the contractor of the problem and give him or her a chance to come to see it and repair it.

To find out what the laws are in your state, simply do an online search for “statute of repose” and “right to repair” in your state.

The One-Year Warranty

The key thing to understand about warranties is that many builders offer their own warranty in lieu of the implied warranty. Additionally, many contracts specify that homeowners are giving up their rights to the implied warranty by agreeing to the builder’s express warranty. Also, builders will “often try to shorten statutes of limitation and statutes of repose. Some states allow you to do that. Others don’t,” says Anthony Lehman, an Atlanta attorney who advises homeowners.

Though there is no industry-wide standard, many residential contractors have adopted a one-year warranty for their contracts. The practice likely trickled down from commercial construction, where a callback warranty is typical. A callback warranty means that within one year, a building owner has the right to call back the contractor and expect him or her to repair work, Lehman says.

The downside for homeowners who agree to a one-year warranty is that they likely trade away their right to the implied warranty, and they may also agree to limit the time they have to discover a defect and sue. Obviously, this is a plus for builders because it limits their risk.

But there is no real reason a homeowner has to accept a one-year warranty simply because that’s the builder’s first offer. “It’s a negotiated point, and people can negotiate warranties that are broader — and they often do,” says Robert C. Procter, outside general counsel for the Wisconsin Builders Association. “If you don’t ask for more, you won’t get more.”

Pros and Cons of a Builder’s Warranty

Though a one-year warranty may seem like a poor deal for a homeowner, a contract with details spelled out does provide an upside: some degree of clarity in the process. Ideally, a warranty includes not only the time period that the warranty covers, but also the standards by which various materials will be evaluated, and the steps to follow when a problem arises.

In a minority of states, the legislature has codified what a warranty is and how long it lasts for a variety of materials, Jaffe says. They are California, Connecticut, Indiana, Louisiana, Maine, Maryland, Minnesota, Mississippi, New Jersey, New York, Pennsylvania, Texas, and Virginia. If you live in one of these states, you can refer to the state-set standards.

If you do not, one option is to refer to the NAHB’s publication Residential Construction Performance Guidelines. “It’s broken down by categories within the home: foundations, exterior, interior, roofing, plumbing,” Jaffe says. “If there’s an issue that comes up, you look in this publication, and it tells you what the observation is — what’s the problem.” The guide then spells out what the corrective measure — if any — should be.

If you decide to use this guide as the standards by which problems will be judged, be sure you read it first and are comfortable with its terms. Sometimes having the terms spelled out is simpler than relying on the implied warranty because the implied warranty is so vague.

“The implied warranty doesn’t have a fixed time; it’s a reasonable period of time,” says Jaffe, of the NAHB. “If you’re a homeowner, and you call your builder up in year five and say, ‘There’s a crack here, and I think you should come out and fix it because it’s a defect,’ well, at that point, it may or may not be related to something that the builder did or didn’t do. Is it a defect? Who is going to make that determination? What is the fix? Who is responsible for it?”

Relying on the implied warranty means that these sorts of questions would need to be resolved in court if the parties aren’t willing to, or can’t, come to an agreement on their own. Open for debate is whether an item is a warranty item, and for how long it’s covered. Having these issues determined in court can be an expensive, time-consuming headache for everyone involved.

Still, some attorneys say owners might be better off with the implied warranty than giving up their rights for a limited one provided by the builder. “You build a house, and you expect it to be there for a long time. The buildings in Europe have been there a long time. The pyramids have been there a long time. The question is how long is it reasonable for you to expect it to last,” says Susan Linden McGreevy, an attorney in Kansas City, Kansas, who specializes in commercial real estate work. “If it has to get before a jury, the contractor has lost already. What I mean is, the jury will always find in favor of a homeowner — unless they’re a real flake.”

Going Beyond Warranties

Despite all this talk of legalities, there is an important caveat: Many good builders will continue to be helpful even after their express warranty has passed. Anne Higuera, co-owner of Ventana Construction in Seattle, provides a one-year warranty to her clients. Nonetheless, Ventana has made repairs and fixes even years after the one-year warranty expired. Higuera says the company does so because the builders want good relationships with their customers, and because they feel as though it’s the right thing to do. “Warranty issues come up very rarely if you do things well in the first place,” Higuera says. “Just finding a contractor who does the right thing on the front end helps you avoid issues with warranty.”

More Ways to Protect Yourself

So what should homeowners do if a builder is offering only a one-year warranty? One option is to negotiate for a longer period of time. “You might want to say, ‘I’ll take a one-year warranty for everything except latent defects,’” McGreevey says. (Reminder: Those are the kind that take a long time to discover, such as foundation problems.)

Another option owners have is to ask builders about insurance products. Many builders offer products with an extended warranty — as long as 10 years — that is backed by insurance companies. These are typically paid for by the builder, with the cost passed on to the homeowner.

Third, homeowners would be wise to consult an attorney to make sure that they’re not giving up rights unknowingly. Given that owners are spending thousands to hundreds of thousands of dollars on construction, paying for five to 10 hours of an attorney’s time (at $300 per hour, $1,500 to $3,000) to ensure that the contract is sound is probably a good investment. “Would you buy a car for $50,000 and not read any of the financing information?” says Lehman, the Atlanta attorney. “And then people do that for a home construction project.”

Finally, the most important thing is for both contractors and owners to screen each other carefully. “Ninety-eight percent of the homeowner-builder relationships, when there’s a disagreement, most parties reach a reasonable conclusion, even if they’re not 100 percent happy,” says Procter, the Wisconsin attorney. “The contracts matter more when someone is not being reasonable.”

By Erin Carlyle, Houzz.com

Blog • Colorado • March 4, 2019

Tips for Moving Into a Smaller Home as a Senior

by Windermere Windsor

By Michael Longsdon

For many seniors, there comes a time when the expense and upkeep of a big home no longer seem realistic. All of your kids have moved out, and suddenly, your multi-bedroom house feels excessively large and empty. Plus, it may be difficult to keep up with mortgage payments if you’re expecting a lower income during retirement. Whether downsizing is a financial necessity or an emotional decision, here’s how to tackle the process without getting overwhelmed.

Do Online Research

Before you start looking at houses in person, narrow down your options by doing some research online. Search the local housing market on sites such as Redfin to get a feel for house prices in your desired area. For example, homes in Seattle, Washington have sold for an average of $685,000during the past month. Explore listings in your preferred size range and location so you can come up with a realistic budget for your new home.

Think far ahead as you look at homes, considering the possibility that the needs of you and your spouse may change over time. One-story homes can be much more accessible for you and your friends down the line. You should also take time to research the neighborhood and pay attention to the house’s proximity to grocery stores, leisure centers, and public transportation.

Plan for Your Storage Needs

If you’re moving to an apartment or condo, you may not have the attic, basement, or even the closet space that you’re used to. Look for a nearby for an affordable self-storage unit so you aren’t left crowding boxes and furniture into your new home. Some simple online research can help you find the best deals in your area. In the last 180 days, for instance, self-storage units in Seattle, Washington cost an average of $88.45 per month.

Go Through Your Possessions Methodically

One of the hardest parts about downsizing is getting rid of things you’ve had for decades. Apartment Guide recommends looking at pictures of clutter-free rooms in magazines for inspiration before starting your own purge. This will mentally prepare you for getting rid of all the stuff you don’t need cluttering up your new, smaller space.

As you declutter, go room by room and sort items into no more than five piles: keep, donate, sell, gift, and throw away. Don’t be afraid to let go of things that are useful but not particularly necessary in your own life. Likewise, don’t keep things out of obligation or feelings of guilt. While you’re cutting the clutter, keep a floor plan of your new home nearby so you can plan out your rooms and ensure your furniture will fit. If you’re worried about accurately measuring your space, you can hire a professional to help you out.

Pack Like a Pro

Protect your items during your move and make them easier to unpack later by trying out some expert packing tips. For example, socks make great padding for glasses and mugs, while oven mitts are perfect for transporting knives a little more safely. Secure entire desk drawers and kitchen storage trays with plastic wrap for much faster unpacking later. Also, keep your clothing on hangers and simply slip a garbage bag over them for protection. Remember to pack an essentials box of everything you need during your first day and night in your new house.

Follow a Moving Checklist

There is a lot to remember to do before moving day. For example, you need to update your mailing address with the post office, find a new doctor, and transfer your utilities. Follow a moving checklist (or hire a senior move manager for around $316 per day) to avoid forgetting important tasks. One of your moving tasks should involve researching moving companies at least two months before your move. This gives you plenty of time to find the help you need within your budget. Learn about how to spot rogue moving companies so you can avoid being scammed, especially if you’re moving long distance.

Moving is exhausting for anyone. But moving into a smaller home can be especially emotional as you say goodbye to personal objects that have surrounded you for much of your life. For this reason, it’s important to take things slow while you sort through your possessions and search for the perfect place to spend your golden years.

Mr. Longsdon provides advice to seniors on downsizing and aging in place and can discuss concerns like tackling home accessibility modifications, how to find a great contractor, the benefits of aging in place, and more.

Blog • Fun Facts • March 1, 2019

Vegas Baby!

by Windermere Windsor

The results are in from FHFA.gov’s latest ranking of the top performing markets in the U.S.

Each quarter they track 245 cities across the country and rank their real estate markets by home price appreciation.

What’s the highest performing city the the U.S.

Vegas! Their prices have gone up 17.63% in the last year.

How about the worst?

Bloomington, Illinois sits in dead last where prices went down 3.58%

Here’s how Colorado cities are ranked:

• #10 Colo. Springs = 11.41%
• #16 Greeley = 10.68%
• #59 Fort Collins = 8.29%
• #64 Denver = 8.15%
• #97 Boulder = 6.85%

Blog • For Buyers & Sellers • February 28, 2019

Questions to ask your home inspector

by Windermere Windsor

To get a quality home inspection, ask the right questions before you put your inspector to work. Here are some of the basics.

What does your inspection cover?
Insist that you get it 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 business?
Ask for referrals, especially with newer inspectors.

<!–more–>Are you experienced in residential inspections?
Residential inspection is a unique discipline with specific challenges.

Do you do repairs or make improvements based on the 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 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’s 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.

Any other good questions to ask? Post yours now!

Advice For Sellers • Blog • Colorado • For Sellers • Home Owners • February 27, 2019

Staging your home – Pink Flamingos not included

by Windermere Windsor

It can sometimes be tough to hear an agent asking you to hide your prize possessions when preparing your home for sale. I overheard two agents giving each other advice about how to politely help their sellers relocate their pink flamingo display and car collection off the front yard before putting the homes on the market.

Studies indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. You get one chance to make a first impression.

Make sure your house looks attractive, well maintained and move-in ready at a glance. Before you put out your “for sale” sign, put these tasks on your to do list.

• Get your yard in shape—Mow the lawn, trim the hedges, haul away debris, sweep the walk, porches and patio, and consider adding some potted plants or hanging baskets for a touch of color.

• Keep it clean—Make sure your house can pass the white-glove test. Polish windows and scrub bathrooms, appliances, counters and floors until they gleam. Vacuum carpets, rugs, drapes and upholstery. Dust shelves, floorboards and molding.

• Give it a fresh coat—Paint the front door, walls leading to entrances, ceiling stains, cracks, chipped or damaged areas. A little paint goes a long way to improve the look of your home.

• Just fix it—Repair anything that needs it, including broken doorbells, torn screens, leaky faucets, broken deck railings or banisters, damaged floor tiles or doors that don’t close properly.

• Lose the chaos—Organize your rooms, closets and basement—anywhere a prospective buyer is likely to look. And don’t forget to remove pets and litter boxes.

• Set the stage—Help prospective buyers imagine life in your house. Remove excess furniture and rearrange what remains so that rooms look spacious and welcoming. Light scented candles, play soft music, add flowers here and there, you might even bake cookies.

• Hire a pro—Don’t have time to get your house ready to show? Turn to a realtor with an ASP® (Accredited Staging Professional) designation to stage your house professionally.

Advice For Sellers • Blog • Colorado • For Sellers • February 26, 2019

Top five words of advice for a seller today

by Windermere Windsor

As a seller today you are faced with a challenge when it comes to selling your home for a fair price and getting it done in a reasonable amount of time. Even though inventory is lower than it was five months ago, we are still looking at about 9 months of inventory in many areas. This large amount of inventory indicates there is a lot of competition out there to attract the right buyer.

We all know there are more than five steps involved when it comes to selling your home. We asked a few of our Windermere agents what advice they would give a seller today if selling your home came down to just five key things.

Top five by Liz Talley Windermere Ballard

1. Declutter.

1. Refresh the garden.

1. Clear the entry and front porch.

1. Minimalize & depersonalize.

1. Price it a wee bit under the competition so that it pulls in buyers.

As always, market presence, professional photos, etc. all make an enormous difference but these five steps are the key right now.

Top five by Jamie Johnson Windermere Camano Island

1. Price. Listen to your real estate expert and don’t try to “start high.”

1. Clean and stage. You are competing with other great deals out there. Yours needs to stand out and shine.

1. Follow a marketing plan. Drop your price 3% every 30 days.

1. Ask yourself – what is your goal? Most sellers have a dream of making a lot of money off the sale of their home. If your goal is to purchase another home, you will make up for your loss” there. It’s all relative.

1. Hire a local expert. Interview at least three agents. Do your research. A good agent will do all that for you.

Blog • Colorado • For Buyers & Sellers • Housing Trends • February 25, 2019

8 Ways to Make the Most of the Home You Have

by Windermere Windsor

“Staying Put” by architect and writer Duo Dickinson is not your typical architect’s book about design. There’s no obscure language nor design-for-design’s-sake ideas. It is a practical, down-to-earth guide that walks anyone through the rational process of how to remodel your house to get the home you want, from how to think about your house and overcoming hurdles to a list of “Duo’s Do’s and Don’ts” for the homeowner. Along the way, there’s plenty of nice before-and-after photos to help explain the points. Do read the book. You’ll be glad you did.

Read on for eight of Dickinson’s brightest suggestions:

Consider the compass points. The tips and illustrated examples are wonderfully straightforward. For example, we see a house that gets overheated, the siding degrades and the front door bakes in the sun because it all faces south.

Dickinson’s common-sense advice: Rework the front of the house with a new wide porch that shades the front door and some smaller, yet well-sized windows to create a lot more curb appeal while reducing maintenance and energy consumption. It’s a triple win: more beauty and comfort with less cost.

Avoid gutters. Statements such as “gutters and leaders are devout to be avoided” may sound like heresy to many, but certainly are the truth. Proving his point, Dickinson illustrates how a properly-built roof overhang can shed all the water it must without the complications, such as ice dams, caused by gutters.

Embrace small moves. Dickinson provides a wealth of simple solutions illustrated with before-and-after photos. He shows how to use small moves for big dividends, such as taking out a wall between a kitchen and a hallway to make room for more kitchen storage.

Enhance curb appeal. The book offers solutions to common problems with a particular style, such as how to improve and enhance an entrance into a split-level home.

Open up to the outside. Dickinson provides some excellent examples of how we can use modern windows and doors to strengthen the connection between inside and outside. Our homes, says Dickinson, no longer need be “later-day caves.”

Find your home. Learning more about the style of the house you have will help you avoid obstacles in remodeling and recognize the best opportunities for improving your particular home.

Open up the inside. Snippets of advice sprinkled throughout the book are like refreshing raindrops that clear the cobwebs away. One such snippet: “If you walk through a room to get to a room, something is wrong.” You know — it’s when that new great room gets added onto a modest house, and the result is some kind of dyslexic creature that’s really two houses rather than one.

So rather than even building an addition, Dickinson suggests you make the most of what you already have. In this example, widening the opening between rooms strengthens this room’s connection with the rest of the home, increasing its utility and spaciousness.

Work with what you’ve got (before): Keeping the kitchen size the same while vaulting the ceiling dramatically increases the overall spaciousness of the room, as you’ll see in the next photo.

Work with what you’ve got (after): Walls, doors, appliances, and even the skylight and kitchen sink were all left where they were. This all avoided costly plumbing, electrical and mechanical work and rework.

Working with what you’ve got (plans): Dickinson has included before-and-after floor plans for many of the examples. These plans help provide that much more context, allowing the reader to better understand what they may be able to do with the home they already have.

By Bud Dietrich AIA

Appreciation Rate • Economics 101 • Economy • Fun Facts • February 22, 2019

4 in 40

by Windermere Windsor

Did you know, according to FHFA, prices in Larimer County have dropped more than 1% only 4 times in the last 40 years?

FHFA stands for the Federal Housing Finance Authority. We are one of 261 markets that they track. Since 1978 they have been measuring home price appreciation here.

If you look at the appreciation numbers for each individual year, you will notice that most years the prices go up and some years the prices go down.

But there have only been 4 times in those 40 years where prices decreased more than 1%.

Here’s what happened those 4 times:

1982 = -3.99%
1987 = -1.86%
2008 = -2.29%
2010 = -1.12%

Sometimes we hear buyers say that they would like to wait for the “prices to come crashing down.” The reality is that the price drops don’t happen all that often and when they do, they don’t drop by that much at all.

If you would like to see a short video with a recap of our annual Market Forecast presentation, watch the video below.

Housing Trends • February 22, 2019

Making a Rental Feel Like Home

by Windermere Windsor

Stylizing your own home can be a daunting but rewarding challenge. When you own your living space, it’s easy to feel a sense of ownership over every piece of your design. But for renters, the challenge is a bit different. Despite limitations, it’s no less important to one’s well-being for a residence to convey a sense of ownership and self. To make a rental unit feel a bit more like home, we took down a few ways to imbue your abode with your own spirit, without leaving a permanent mark in the space or your wallet.

Storage – Let’s be honest, rentals often lack sufficient storage place, and since custom cabinetry isn’t usually an option for renters, investing in some added storage is key. Add some simple shelves, bookshelves, baskets, or under the bed storage.

Blinds – Vertical blinds may be the ultimate decorating sin. No one likes feeling as if they’re living in a motel room. We suggest you either take them down or hide them under curtains. Just don’t throw them out or you may not get your security deposit back!

Accessorize – Pillows, throws, candles, books, light fixtures… the only way to get a truly genuine space. This is by far the easiest and a MUST.

Wall Art – Those pesky holes might keep you from hanging art or photos on your walls, but when it comes down to it, they’ll only take a few minutes to patch up when it comes time to move out. This doesn’t mean you have to hang an entire art gallery, but hanging one statement piece and placing the rest of the photos on a mantel or shelf should do the trick.

Rugs – Last but not least, rugs: the peanut butter to your rental jelly. If there are scratched hardwood floors or stained carpets, you can cover those up easily with a throw rug. Not only that, a rug is a great investment piece that will add your personal flavor to any space. And they absorb noise and make a room feel comfy.