BlogFort Collins Real EstateFort Collins RealtorFun Facts February 18, 2017

Stadium Impact?

Today we are looking at one of the hot topics in Northern Colorado. Is the new CSU football stadium impacting real estate values in the surrounding neighborhoods?

The answer, based on the research we’ve done so far, is… yes!

Here are the details…

We looked at the residential properties in the 1-mile radius surrounding the new stadium. We pulled the sales over the last three years in that area. Then we compared that area to the market as a whole.

Let’s talk about prices first. Residential prices inside the City Limits of Fort Collins went up 11% last year and 12% the year before that. Within the stadium’s 1-mile radius, prices only went up 1% last year, but 14% the year before that. It seems that recent construction has impacted prices.

Now what about number of sales? Residential transactions have gone down 5% per year each of the last two years. Near the stadium, the decrease has been even larger at 7 to 8% per year.

It does seem that the stadium has had an impact. We will continue to keep our eye on this trend!

One footnote is that last year had more condominium sales than the year before which has an impact on average price.

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 RealtorFun Facts September 9, 2016

Signs of Slowing

It's not just temperatures cooling off as we transition from summer to fall, there are signs that the market is cooling as well.autumn-974882_1280

The numbers are in and both Loveland and Fort Collins had their slowest August in several years.

Loveland had 127 single family home sales last month. This is 16% lower than August 2015 and the slowest August for Loveland since 2012.

Fort Collins had their slowest August since 2011 with 206 single family sales. This is 13% lower than last year.

This is good news for buyers who may have been reluctant to enter the multiple-offer frenzy that occurred this past spring. It looks like we are moving toward a more "normal" market.

BlogFort Collins Real EstateFort Collins RealtorFun Facts August 20, 2016

Colorado’s Home Appreciation

With the Olympics stoking the spirit of competition, we took at look at how Colorado stacks up against the other states when it comes to real estate prices.

Our impartial judge for the competition is the Federal Housing Finance Authority who tracks close to 300 real estate markets all over the country.

For this competition we are looking at home price appreciation over the last five years. Simply, how much have prices gone up for each state?

And the winner is… (not Colorado)Colorado Magnifying Glass

The winner is Nevada with a 68% increase in the last five years.

Here's the top 5:

1. Nevada 68%

2. Arizona 57%

3. California 54%

4. Florida 53%

5. Colorado 48%

Here's the deal about this list- other than Colorado, these are all the states that were hit hardest by the real estate downturn in 2008 & 2009. These states are still clawing their way out of the hole that was created. While Colorado continues to show a more steady pattern without the wild swings seen in other places.

BlogFort Collins Real EstateFort Collins RealtorFun Facts August 15, 2016

The Estes Park Mountain Market

With fall right around the corner many of us will be trekking up to Estes Park to see the Aspen leaves turning.

As you drive through Estes you may wonder "how's the mountain market?"

Here are some fun facts about real estate in Estes Park.mountain-1244132_1920

  • The average price today is $394,046 – not that different than Fort Collins.
  • Average prices have gone up $60,000 in the last three years.
  • Their market has about 300 sales per year- roughly a tenth of the amount in Fort Collins.
  • If you were looking for a home in Estes between $300,000 and $500,000, you would have 15 to choose from.

Now you know about the Mountain Market!

BlogFort Collins Real EstateFort Collins RealtorFun Facts August 8, 2016

Door Opens for Buyers

After a very active (to say the least) spring and summer, the door has now opened for buyers in our market.

Sell Your Home With EaseBuyers who were frustrated during the first half of the year with low inventory and bidding wars now realize a better environment. It's time to step off the sidelines and take a fresh look at what the market has to offer.

The first piece of good news is that rates have dropped to near all-time lows. Rates today are 0.6% lower than they were on January 1st. What this means on a $400,000 home with a conventional loan is a monthly savings of $110!

The second piece of good news is that inventory levels are coming up. There are more homes on the market to pick from and lower demand because of seasonal slowing. Months of inventory in Larimer County markets have bounced up 20% to 33%.