Fantastic 6 bed, 4 bath home at 3165 Tradewind Court in Loveland in Waterfront at Boyd Lake awaits. The 2 story home sits on over 1/3 of an acre, backing to open space with spectacular mountain views. As you enter the home, the grand entrance welcomes you with a formal sitting room and custom painted dining room. Move into the kitchen with a large island, stainless steel appliances and breakfast nook opening up to the family room with gas fireplace and study. When entertaining or wanting more elbow room, head to the finished basement boasting a beautiful wet bar and separate theatre room. Don’t forget this is the perfect community to enjoy the outdoors with private access to Boyd Lake, sandy beaches, parks and volleyball! Call for your private showing at (970) 401-0123 for more information or click the link below for more details.
Given how active our market is today and has been over the last few years, many people assume that virtually every home with a “For Sale” sign in the front yard is already under contract.
They are surprised to learn that, in most cases, the “For Sale” sign does indeed represent a home that is actively for sale.
For example, today in Fort Collins there are 655 single-family homes on the market. 290 of these are under contract and will be closing soon. 365 of these are still active. So, 56% of the signs in Fort Collins are in front of homes that are still available.
Here are the specific numbers for each of our Northern Colorado markets:
• Fort Collins = 56%
• Loveland = 57%
• Windsor = 58%
• Greeley = 41%
There are a couple of things we notice about these numbers. First, well over half of all sales are for at least list price. This means that a buyer needs to be prepared to make a full price offer (or higher) in most cases. This also means that if a seller is priced right and marketed effectively, they should achieve their asking price.
We also notice that these percentages are lower than one year ago. In 2018 these numbers were 5% to 10% higher in each market. This is good news for buyers of course because the bidding wars are not as intense as last year.
The good news is I-25 traffic relief is on the way. The bad news is we will have to live through three summers of construction before it’s done.
Did you know the 26 miles between Highway 14 in Fort Collins and Highway 66 in Longmont Interstate 25 serves more than 45,000 cars per day? Wow!
Part of that stretch of interstate will get a third lane starting this summer. Construction is set to begin next month that will add a third lane between Highway 14 and Highway 402.
The project is happening 14 years ahead of schedule thanks to additional funding from several sources including the Cities of Fort Collins and Loveland. The first step we will notice is construction on the I 25/Highway 34 intersection.
This is great news for our region that will bring much needed relief. We will all just need to be a little patient while the work is being done.
For the month of April, the average price of a home in the city of Boulder was $1,247,000. This is according to the latest from our IRES MLS system.
If you want to own a home about an hour down the road in another really nice college town and get a 66% discount, you may want to check out Fort Collins 🙂
Yes, despite the recent uptick in prices here locally, we are still a bargain compared to Boulder. Here are median single-family prices for our markets and their relative price to Boulder:
Fort Collins = $414,237 (66.8% off)
Loveland = $360,150 (71.1% off)
Greeley = $290,000 (76.7% off)
Windsor = $306,450 (75.4% off)
Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at firstname.lastname@example.org and I will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.
Because our Northern Colorado market has been so active over the last four years, clients often ask us if we think there is a housing bubble forming.
There are several key statistics which we track closely in order to answer that question.
Here is one fact that we find to be insightful…
One of the root causes of the last housing bubble was the glut of inventory, and specifically new home inventory. Quite simply, the market was being oversupplied with new homes. The rules of economics say when there is oversupply, prices must come down.
Today, there are far fewer new home starts compared to 2004 and 2005 when the last bubble was forming – despite there being a larger population.
According to our friends at Metrostudy who track the new home market, Northern Colorado has had 4,452 new home starts in the last 12 months.
That number is only 60% of what it was at the height of construction in early 2005.
It is also interesting to note that over the last 12 months there have been 4,473 new home closings which shows that demand is keeping up with supply.
So when you drive around Northern Colorado and notice all the new homes being built, know that construction activity is far less than what is was during the bubble and that demand is keeping up with supply.
In case you missed our annual real estate Forecast event, you can reach out to me to see the presentation slides or receive a video recap of the information. Just email me at email@example.com
Last night was our annual Market Forecast event. Thank you to the 400 clients and friends who joined us at the Marriott.
Here are our predictions for where prices are going in 2018:
Fort Collins 8%
Last year’s average price increases looked like this:
Fort Collins 7%
Low inventory will persist in many parts of the market during 2018. But, like we mentioned last night, there are many parts of the market where the market is in balance or even over-supplied with homes. All markets are local!
Our Cheif Economist, Matthew Gardner, shared several of his insights including his prediction for interest rates one year from now which is 4.4% (about 0.5% higher than today).
For buyers thinking about waiting until the market cools off, there is a tangible cost to that wait. If prices and interest rates go up as we predict, a one-year wait would equal over $200 per month for a $400,000 home.
In case you missed the event, you can read more about it here in the Loveland Reporter-Herald. They did a great recap of our presentation. CLICK HERE