TAX ASSESSMENT TIME

by Rondi duPont

This week’s fun fact is that you just received your new valuation from your County Assessor and you have until June 8th to protest the value.

By statute, properties in Colorado are re-assessed every two years and owners are given their new Assessed Valuation in early May.

This year, many Colorado property owners are surprised by the amount their property’s value went up in just two years.

An important reason why many increases are substantial is based on the timing of comparable sales.

By statue, each County will only consider comparable sales used for the valuation between 7/1/2020 and 6/30/22.

This particular 24-month period happens to be one of the most active and robust real estate markets in history.

It can also be confusion that a new valuation received in May 2023 is based on comparable sales from way back in 2020, 2021 and the first half of 2022.

If you do plan to protest, comparable sales during that same 24-month period are the only ones which can be considered.

You may have questions about your new valuation and you may want to protest.

In any case, I am happy to help you.

Simply reach out to me!

Blog • Fun Facts • September 4, 2021

Tracking Change

by Rondi duPont

The market is changing. The change is slight, not drastic.

Both potential sellers and potential buyers need to know that the pace of the market has slowed since the Spring.

Here is one way we track this change…

A review of the August numbers shows the pace of sales in each of our Front Range markets:

Larimer County = 18 closings per day
Weld County = 16 closings per day
Metro Denver = 165 closings per day

Based on the pace of sales, we can determine the inventory of current homes for sale measured in days:

Larimer County = 24 days of inventory
Weld County = 23 days of inventory
Metro Denver = 18 days of inventory

Then we can measure the increase in days of inventory versus April of this year:

Larimer County = 26% increase
Weld County = 15% increase
Metro Denver = 20% increase

Blog • Fun Facts • September 18, 2020

Pendings are Popping

by Rondi duPont

Temperatures may be cooling off but the Front Range real estate market is not.

Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer.

Not this year.

The indicator we use to measure future closed sales is current pending sales.

Simply, we look at the number of properties under contract and scheduled to close versus the same time last year.

Current pending sales are way up along the Front Range when measured against 2019:

Metro Denver up 34.1%

Larimer County up 48.6%

Weld County up 50.2%

Based on these numbers, closed sales numbers over the next 60 days will be very strong.

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Blog • Fun Facts • September 11, 2020

Forbearance Falls

by Rondi duPont

The number of loans in forbearance just fell to their lowest level since mid-April.

This is good news for the real estate market.

Less and less people are seeking payment relief on their mortgages.

The number of loans currently in forbearance stands at 7.16%.

This news coincides with the U.S. Unemployment Rate falling to it’s lowest level in 5 months as more people are getting their jobs back.

The economy has added back roughly half of the 22.2 million jobs that were lost in March and April of this year.

Colorado Housing • Fun Facts • April 17, 2020

Special Event

by Rondi duPont

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On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner.

He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado.

You will hear the answers to the biggest questions we are hearing from clients now like “do you think housing prices will crash?”

This event is exclusively for clients and friends of Windermere Real Estate. To receive the registration link simply comment on this blog or reach out to me.

Many of you have heard Matthew speak at our Market Forecast events we hold each year in January. He is famous for making complex economic dynamics very simple to understand.

You will get useful and valuable information which will give you clarity about where the market is headed and when we can expect the economy to improve.

For example Matthew predicts unemployment to hit 15% by the end of June, but then to improve to 8% by year-end and 6% by this time next year.

Again, if you would like the link just comment on this blog or reach out to me.

At Windermere Real Estate we are taking Shelter in Place and Social Distancing very seriously. Our people are working at home, staying connected to their clients, and providing help wherever needed.

Fort Collins Real Estate • Fun Facts • Market News • April 5, 2019

Get Real

by Rondi duPont

We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.

When we dig in and do the research, this is what we find…

Home prices are still going up, just not as fast as they have been.

We’ve known that the double-digit appreciation that we’ve seen for the last several years could not be sustained and we expected the pace of appreciation to slow down.

So far in 2019, this is the case. Prices still going up, just not as fast.

It’s like running up stairs. Eventually you will get tired and you will need to start walking (but you’re still going up).

Headlines that suggest that prices have peaked and are falling create unrealistic expectations for buyers and give sellers a skewed perspective on the market.

Here are the numbers…

Average Price:

Up 1.53% in Metro Denver
Up 6.1% in Larimer County
Up 5.1% in Weld County

Months of Inventory:

5 Months in Metro Denver
5 Months in Larimer County
4 Months in Weld County
(Remember that 4-6 months of inventory represents a balanced market)

There has been an increase in Days on Market which means that homes are taking longer to sell. But the increase is measured in days, not months.

Here are those numbers…

Days on Market:

Up 4 Days in Metro Denver
Up 11 Days in Larimer County
Up 3 Days in Weld County

So, be mindful of headlines that can be sensationalized and might suggest that the market is falling.

Bottom line, the market is going up, just not as fast as it was.

Highly Active

TAX ASSESSMENT TIME

Tracking Change

Pendings are Popping

Forbearance Falls

Special Event

Get Real

We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.