BlogFort Collins Real EstateFort Collins RealtorFun Facts April 21, 2017

A History Lesson

The national homeownership rate is a very interesting statistic to track. It is simply the percentage of households in the country which are owned by the occupant (versus rented).

Did you know that during the 30 years between 1965 and 1995 the homeownership rate stayed between 63% and 66%? 

Then everything changed as government policies were put in place to encourage a higher percentage of homeowners. During the housing bubble the rate approached 70%.

As the bubble burst, this percentage fell rapidly and eventually bottomed out at 62.9%. Today it sits at 63.7% which is right inside the range of where it was between 1965 and 1995. As we see it, it’s right where it needs to be.

The fact that the homeownership rate sits at “normal” levels is one of three reasons we don’t see a national housing bubble today.

The President of Windermere Colorado, Eric Thompson, created a short video for you which shows you all three reasons. To watch the video, CLICK HERE.

BlogFort Collins Real EstateFort Collins RealtorFun Facts March 17, 2017

Now What?

The Federal Reserve raised their benchmark interest rate 0.25% this week.

So what does this mean for real estate?

Some perspective is in order…

First, mortgage rates are not directly tied to the Fed Funds rate. They are, however, closely tied to the 10-year Treasury.

While the Fed was raising their rates this week, mortgage rates actually dipped lower (although slightly).

Mortgage rates today on a 30-year loan are essentially 4.25%.

The long term average for mortage rates, going all the way back to 1970 is 7.5%

For every 1% rise in rates, there is a corresponding 10% impact to the monthly payment.

Mortgage rates have increased about 0.75% since the election.

Most economists expect rates to increase another 0.5% by year-end.

I am watching mortgage rates closely and will continue to keep my customers updated as to where the experts think they are heading.

BlogFort Collins Real EstateFort Collins RealtorFun Facts March 14, 2017

The Results Are In!

You’ve probably heard that prices are up in Northern Colorado

Another source just confirmed this.

The Federal Housing Finance Authority recently released their quarterly report on 260 metropolitan markets across the country.

Get this, Colorado has 4 cities ranked in the top 15 for yearly price growth. 

Northern Colorado is well-represented on this list.

  • 11th Fort Collins/Loveland
  • 12th Greeley
  • 15th Boulder

By the way, Denver is 14th. And in case you are wondering, Palm Bay Florida is ranked 1st.

All of the Northern Colorado cities have had just over 10% appreciation in the last year meaning that prices are growing at about double the long-term average.

To receive a copy of the full FHFA report, simply email me at rdupont@windermere.com and I will get one in your hands right away.

BlogFort Collins Real EstateFort Collins RealtorFun Facts March 6, 2017

Luxury Market Spotlight

So how’s the luxury market? Let’s look…

Today there are 88 single family homes for sale in Larimer and Weld County priced at $1 Million and above.

Over the last year, 63 of these properties have sold.

This means it would take 17 months to sell all of these luxury properties at the current pace of sales.

Where do most of these sales occur? The most active city is Fort Collins with 18 luxury sales followed by Loveland with 13.

The most active neighborhood in all of Northern Colorado for luxury properties is the Harmony Club in Timnath with 8 sales.

Windermere Real Estate is proud to have represented the most expensive home to sell in Northern Colorado in the last two years – a $2,800,000 property in the Harmony Club which featured a gourmet French Kitchen, reclaimed barnwood floors and handmade peg wood beams.

Contact me to learn more about our Premier Properties program which is custom designed to sell luxury homes.

BlogFort Collins Real EstateFort Collins Realtor February 28, 2017

Northern Colorado Real Estate Forecast

Spring selling season is right around the corner.  We are seeing the activity buzz starting already in the market.  If you missed our Forecast event we held in January, we have put together a quick recap video for you to review.  Click on the video below to hear more!

Additional questions?  Let me know!

BlogFort Collins Real EstateFort Collins RealtorFun Facts January 27, 2017

Our Crystal Ball

Last week Windermere’s Chief Economist Matthew Gardner joined us for our annual Market Forecast events in Colorado. We were pleased to host over 500 customers at two events in Denver and Fort Collins.

Here are some of the big takeaways that we shared:

  • Interest rates will increase to 4.6% by the end of the year
  • First-time buyers are back and will make up 47% of all buyers in 2017
  • Inventory will remain at record lows and will continue to drive up prices
  • Appreciation is expected to be between 9% and 7% accross our Front Range markets
  • Home builders will get creative in order to hit lower price points – we will see more “tiny homes” and more homes without basements

Click HERE to see Matthew Gardner’s infographic on the 2017 Forecast.

BlogFort Collins Real EstateFort Collins Realtor July 12, 2016

Versus Boulder

When it comes to real estate, many say that Fort Collins is the "next Boulder."

spring-342610Let's look at the 2016 numbers* and do a little side-by-side of Fort Collins versus Boulder.

The Fort Collins average price is less than half of Boulder's ($355,000 versus $890,000)

Fort Collins has 4 times as many transactions (1,108 versus 251)

Fort Collins has 4 times as many homes for sale (715 versus 175)

Homes in Boulder sell 25% faster (62 days versus 82 days)

*These numbers come from IRES and are through May 2016

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