Are we in a housing bubble? Is there a recession coming?

Thu, January 16, 2020 | 5:30 PM – 7:00 PM MST


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Learn the answers to those questions plus more at this fun, interactive, informative presentation full of valuable takeaways featuring Windermere Real Estate’s Chief Economist Matthew Gardner. Hear hyper-local stats and facts as well as national information about the real estate, employment and financial markets.

Reception to follow! Please stay after the presentation and join us for complimentary hors d’oeuvres and drinks.


REGISTER HERE

Posted on January 2, 2020 at 7:52 pm
John Taylor | Category: Economy, For Buyers, For Sellers, fun facts, Housing Trends, market news | Tagged , , , , , , , ,

Friday Fun Facts – The 12 Facts of Real Estate

 

While your true love may be getting you a partridge in a pear tree in the near future, we decided to give you the 12 facts of Colorado real estate:

  • 1 is the ranking Colorado owns for long-term home price appreciation versus all other states
  • 2.6% unemployment rate in Colorado right now
  • 3.73% mortgage rate for a 30-year mortgage which is about half of the long term average
  • 4.7% apartment vacancy rate in Metro Denver, the lowest since 2015
  • 5.5% is the long-term average for yearly home price appreciation along the Front Range
  • 6,000,000 live in Colorado
  • 7,000 residential properties are for sale in Metro Denver right now and the average for this time of year is 14,700
  • 80,000 is the number of people that is added to our state’s population each year
  • 9 homes are for sale in Larimer and Weld County priced over $2,500,000
  • -10% is the decrease in new home construction in Larimer County compared to last year while Weld County grew by 17%
  • 11 times in the last 40 years home prices have gone up at least 8% along the Front Range
  • $1,202,488 is the average price for a single-family home in the City of Boulder

 

It’s time to register for our annual Market Forecast event.  We will be live at 5:30 on January 16th at the Marriott in Fort Collins.  Back by popular demand is our Chief Economist Matthew Gardner.  Save your seat HERE.


Posted on December 20, 2019 at 10:38 pm
John Taylor | Category: fun facts, Housing Trends, Northern Colorado Real Estate | Tagged , , , ,

Friday Fun Facts – Vital Signs of the Market

First, Larimer County:

  • Average prices are up 2.4%
  • Number of transactions is down 2.5%
  • Inventory is up 11.9%
  • Days on market is up 4.1%

Now, Weld County:

  • Average prices are up 4.3%
  • Number of transactions is up 3.6%
  • Inventory is up 12.9%
  • Days on market is flat (same as last year)

What this means is prices are still going up, just not as fast as they were a couple of years ago.  More inventory is coming on the market which is great news for buyers.

 

Posted on December 13, 2019 at 6:30 pm
John Taylor | Category: For Buyers, For Sellers, Housing Trends, Northern Colorado Real Estate | Tagged , , , , , ,

Friday Fun Facts – A Tale of Two Counties

 

 

Two Tales

This is a tale of two Counties.

When it comes to new home activity, there is a big difference between Larimer and Weld Counties.

Larimer County new home starts are down 10% and new home closings are down 15% compared to last year.

Weld County new home starts are up 18% and new home closings are up 8% compared to last year.

This is all according to the new home research experts and Metrostudy.

So why the difference?  It comes down to price and availability.

There is more land available for new home development in Weld County.

Plus, the land tends to be less-expensive than Larimer which means that builders can deliver a lower-priced product and reach a larger pool of buyers.

The average price of a new home in Larimer County is $507,105 while the average new home price in Weld is $411,269.

If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.


Welcome to Friday Fun Facts

Thanks for checking out this week’s Friday Fun Facts!

These little nuggets of information are designed to inform, education and entertain you. I promise to give you some solid takeaways, based on real life with information that will keep you up-to-date.

You can expect an entertaining short video or article once a week.. If you really like it, share it with your friends!

*If this isn’t your thing, no worries – just click the unsubscribe link below.*

 

Posted on November 15, 2019 at 2:09 pm
John Taylor | Category: For Buyers, For Sellers, fun facts, Housing Trends, Northern Colorado Real Estate | Tagged , , ,

Your November To-Do List

The month of November brings the end to daylight savings time, for most of us anyway, and the start to the holiday season. Don’t be left in the cold, jumpstart your preparations with this quick checklist.

 

Check Your Fire Safety System

Test your smoke alarms and CO detectors to make sure they’re in working order. Locate your fire extinguisher and be sure the gauge shows that it has enough pressure. If it isn’t already stored in or near the kitchen, re-locate it closer to the oven for quick action should Thanksgiving dinner go up in flames.

Clean Your Garbage Disposal

Don’t let a stinky garbage disposal ruin your appetite, keep it smelling fresh with a few pieces of lemon rind and some ice cubes. The lemon cleans and deodorizes the odor causing bacteria and the ice scrapes away any debris, as well as sharpen the blades.

Check and Repair Other Plumbing Issues

Run the water in each sink to determine if it’s draining properly.

If your bathroom sink is not draining quickly, a great natural way to clear debris, with ingredients that you likely already have in the house, is to put ½ cup of baking soda down the drain, followed by ½ cup of vinegar, then plug the drain and let it sit for an hour. When you unplug the drain, pour boiling water down until it drains quickly.

Send a snake down your tub drain, then add a hair trap to each drain to prevent future blockage, especially when you have guests over for the holidays.

For a slow kitchen drain, the likely cause is a build up of fat, oil, or grease (FOG drain clog). The best way to clear this kind of clog is with 2 liters of water and a few tablespoons of dish washing detergent. Pour slowing and keep pouring until the drain is cleared.

Pull Out Your Winter Essentials

For those of you in cold climates, get out the shovels and replenish the ice-melt bucket before the snow and ice hit this season. Don’t get caught in the storm, make sure they’re easy to access or easy to pull out when the weather forecast calls for below freezing temperatures.

It’s also a good idea to get out your snow gear and toys. Don’t miss an opportunity to play in the snow because you can’t get to your shed to pull out your snow boots, gloves, or sled!

Check and Replace Floor Protectors

Prevent damage to your floors by checking any pads on your chair legs as well as the rug mat.

Make sure the pads on your chairs, sofas, and tables are intact so when you move them, they won’t rub and scuff or dent flooring. Lift the rug to double check that the rug mat isn’t causing damage to the floor as well. Sometimes, the adhesive can stick to the floors, leaving a residue that’s almost impossible to clean, this is especially important on cement floors.

Prepare the Guest Bedroom

Has it been a while since anyone, besides the dog or cat, has slept in the guest bed? This is a great time of year to wash the sheets and clean the room in preparation for holiday guests. And don’t forget the cobwebs in the corners! Organize and re-stock the closets so your guests can easily access more blankets and towels during their stay.

Once you’ve completed your November checklist, you can sit back with your hot apple cider and know that you’re ready for the holiday season.

 

Posted on November 14, 2019 at 1:18 pm
John Taylor | Category: Housing Trends, Living | Tagged , , , , , , ,

Friday Fun Facts – All Time High

Home Builder’s confidence in Baby Boomer buyers is at an all time high!

The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.

The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the same time last year.

The results in their most recent survey show that builders have never been more confident about buyers who are 55 and older.

The confidence index for this age group is actually double of what it was in 2012.  The NAHB sites low interest rates and strong job growth as the reasons for the high confidence.


 

Posted on November 8, 2019 at 6:27 pm
John Taylor | Category: For Buyers, fun facts, Housing Trends | 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 your Windermere real estate agent. 

ECONOMIC OVERVIEW

Colorado’s economy picked up, adding 64,900 new non-agricultural jobs over the past 12 months — a growth rate of 2.4%. Over the past three months, the state added an impressive 28,300 new jobs.

In August, the state unemployment rate was 2.8%, down from 3.4% a year ago. Unemployment rates in all the counties contained in this report were lower than a year ago. It is fair to say that all markets are now at full employment.

HOME SALES

  • In the third quarter of 2019, 17,562 homes sold. This is an increase of 5.1% compared to the third quarter of 2018 but 1.6% lower than the second quarter (which can be attributed to seasonality). Pending sales — a sign of future closings —rose 9.7%, suggesting that closings in the final quarter of 2019 are likely to show further improvement.
  • Seven counties contained in this report saw sales growth, while four saw sales activity drop. I am not concerned about this because all the markets that experienced slowing are relatively small and, therefore, subject to significant swings.
  • I was pleased to see an ongoing increase in the number of homes for sale (+16.9%), which means home buyers have more choice and feel less urgency.
  • Inventory levels are moving higher, and demand for housing appears to be quite strong. As I predicted last quarter, home sales rose in the third quarter compared to a year ago.

 

HOME PRICES

  • Home prices continue to trend higher, with the average home price in the region rising 3.8% year-over-year to $477,776.
  • Interest rates are at very competitive levels and are likely to remain below 4% for the balance of the year. As a result, prices will continue to rise but at a more modest pace.
  • Appreciation was again strongest in Park County, where prices rose 7.8%. We also saw strong growth in Weld County, which rose 7.4%. Home prices dropped in Clear Creek County, but, as mentioned earlier, this is a small market so I don’t believe this is indicative of an ongoing trend.
  • Affordability remains an issue in many Colorado markets and this will act as a modest headwind to ongoing price growth.

 

DAYS ON MARKET

  • The average number of days it took to sell a home in the markets contained in this report rose seven days compared to the third quarter of 2018.
  • The amount of time it took to sell a home rose in all counties compared to the third quarter of 2018.
  • It took an average of 30 days to sell a home in the region — an increase of 1 day compared to the second quarter of this year.
  • The Colorado housing market is still performing well, and the modest increase in the length of time it took to sell a home is a function of greater choice in homes for sale and buyers taking a little longer to choose a home.

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the third quarter of 2019, I continue the trend I started last summer and have moved the needle a little more in favor of buyers. I continue to closely monitor listing activity to see if we get any major bumps above the traditional increase because that may further slow home price growth. However, the trend for 2019 will continue to be a move toward a more balanced market.

 

 

 

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Posted on November 5, 2019 at 11:54 am
John Taylor | Category: Economy, For Buyers, For Sellers, Housing Trends, market news | Tagged , , ,

Friday Fun Facts – The Holidays are the Best Time to Purchase!

Time for New

Here is a fact…

If you have ever thought about owning a new home, the last two months of the year are usually the best time to make that happen.

Here’s why…

Many builders have year-end goals and sales quotas to hit.  If they have a “standing inventory” of homes that are completed but not sold, they are typically motivated to sell these homes by the end of the year.

This dynamic can be especially true for publicly-traded builders who are even more motivated to hit year-end sales numbers.

Up and down the Front Range there are beautiful new homes in fantastic neighborhoods.  The builders of these homes may be happy to make concessions and provide incentives as long as you close by year-end.

We just recently helped a buyer with a very compelling incentive package from a builder which included a lower price, additional landscaping and window coverings.

If you would like more details about these kinds of opportunities, reach out and we can help.


If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.


 

Posted on November 1, 2019 at 1:12 pm
John Taylor | Category: For Buyers, fun facts, Housing Trends | Tagged , ,

Current Price Range in Northern Colorado

What is the most active price range in Northern Colorado? 

Take a guess…

  • $300,000 to $400,000
  • $400,000 to $500,000
  • $500,000 to $750,000
  • $750,000 and above

By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and above.

However, this lower price range does not have the most inventory.  The price range with the greatest selection of homes is $500,000 to $750,000.

 

Posted on October 25, 2019 at 5:09 pm
John Taylor | Category: For Buyers, fun facts, Housing Trends, market news, Northern Colorado Real Estate | Tagged , ,

Friday Fun Facts – Equity Insights

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The real estate research firm Core Logic just produced their latest Homeowner Equity Insights report.

Some interesting tidbits:

  • 63% of all properties nationally have a mortgage
  • Homeowners with mortgages collective realized a $428 billion rise in equity over last year, an increase of 4.8%
  • Only 3.8% of all mortgaged properties have negative equity (where the loan is greater than the value of the home)
  • 10 years ago 26% of all mortgaged properties had negative equity

If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.

Posted on October 18, 2019 at 5:38 pm
John Taylor | Category: Economy, For Sellers, fun facts, Housing Trends | Tagged , , ,