Sign Surprise

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%

 

Posted on July 13, 2019 at 7:07 pm
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Over List

A statistic we keep our eye on is the percentage of homes which sell for at least list price.

In a robust, healthy, market with lower inventory, we will frequently see homes selling for their asking price or even higher.

 

Here are the number of sales that occur for list price or higher in each of our major markets:

• Fort Collins = 60%
• Loveland = 60%
• Greeley = 71%
• Windsor = 56%

 


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.

 

Posted on July 12, 2019 at 6:20 pm
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Average Home Prices in Northern Colorado

Yesterday the Coloradoan ran a very good article about the increase of average home prices in Larimer County, which they stated has now reached $405,000.  

We thought this article may make you curious to know what the average prices are in each specific city in Northern Colorado:

  • Fort Collins = $453,051
  • Loveland = $402,132
  • Windsor = $463,769
  • Greeley = $310,785
  • Timnath = $604,481
  • Wellington = $338,999
  • Boulder = $1,105,634

source = IRES

Contact me today to find out what your home would be valued at in today’s market!

Posted on July 13, 2018 at 10:29 pm
Rondi duPont | Category: Fort Collins Real Estate, Fort Collins Realtor, Fun Facts, Northern Colorado Real Estate | Tagged , , , , , , , , , , , , , , ,

Top 5

Greeley is the 5th-ranked city in the whole country for one year appreciation. This is according to the Federal Housing Finance Authority’s most recent quarterly report. They track close to 300 markets all over the U.S.

For the first time in a long time, the Fort Collins/Loveland market did not make the top 20 list- they came in ranked 76th.

Greeley’s appreciation over the last year was 12.63% and Fort Collins/Loveland’s was 7.98%.

Who was first? Boise, Idaho with 15.25%.

Who was last? Peoria, Illinois whose prices fell 1.26%.

What about other Colorado cities?

  • Colorado Springs – 14th @ 11.65%
  • Grand Junction – 16th @ 11.47%
  • Denver – 28th @ 10.18%
  • Boulder – 68th @ 8.25%

Overall, prices in the U.S. increased by an average of 6.9%. A couple of interesting side notes- a minimum of 11% was required to make the top-20, and 18 of the top 20 are in the Western U.S.

Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at rdupont@windermere.com and I will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Posted on May 25, 2018 at 6:56 pm
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66% Off

This just in…

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 rdupont@windermere.com and I will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Posted on May 11, 2018 at 5:34 pm
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April Showers

The April results are in for Larimer and Weld County…

Larimer County had 547 residential sales for the month, 11% fewer than a year ago. Weld County was up 13% compared to last year with 493 sales.

Why is Larimer down and Weld up? It’s mostly driven by affordability – there tend to be more homes to choose from under $350,000 in Weld County.

How about prices? Average prices went up 10% in Larimer County and 9% in Weld County compared to April 2017.

Larimer County’s average price is $419,918 and Weld’s is $359,402.

To see an update as to what is happening in the Northern Colorado market, contact me to receive our quarterly “Scoop” report.

Posted on May 7, 2018 at 8:20 pm
Rondi duPont | Category: Blog, Fort Collins Real Estate, Fort Collins Realtor, Fun Facts | Tagged , , , , , , , , , , ,

Foreclosed

Remember when the hot topics in real estate were short sales and foreclosures? Not today!

As an additional indicator of the health of our market, foreclosure activity is significantly lower than it was 7 to 8 years ago.

Today in Colorado only 1 in 3920 homes is in foreclosure. This is much lower than the current national number of 1 in every 2043 homes.

How about Northern Colorado? Both Larimer and Weld Counties are performing better than the National Average.

In Larimer County the number is 1 in 6695 and Weld County is 1 in 2849.

Posted on February 23, 2018 at 4:02 pm
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Bubbly?

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.

Are we in a housing bubble?

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 rdupont@windermere.com

Posted on January 26, 2018 at 6:38 pm
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Our Forecast

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:soap-bubble-1959327_1920.jpg

  • Fort Collins 8%
  • Loveland 7%
  • Greeley 9%

Last year’s average price increases looked like this:

  • Fort Collins 7%
  • Loveland 8%
  • Greeley 11%

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

Posted on January 19, 2018 at 4:14 pm
Rondi duPont | Category: Blog, Fort Collins Real Estate, Fort Collins Realtor, Fun Facts, Northern Colorado Real Estate | Tagged , , , , , , , , , , , ,

What It Means

The new tax bill is expected to be signed by the end of the year. Here is a summary of what it means for your real estate…

(By the way, be sure to RSVP for our Market Forecast on January 18th so you can hear our predictions for next year. Click HERE to register)

The new tax bill:

  • Retains the current law for exclusion of capital gains on a principal residence. You still need to live in a home for 2 of the last 5 years to claim a capital gains exclusion. There was a risk that this would be changed to 5 of the last 8 years, but thankfully it did not.
  • Reduces the limit of deductible mortgage debt from $1 Million to $750,000.
  • Retains the ability to deduct mortgage debt on second homes.
  • Allows for an itemized deduction of up to $10,000 for property taxes. When the bill was first introduced, there was no allowance for a property tax deduction.
  • Retains the current 1031 like-kind exchange rules which is terrific news for investors.
Posted on December 23, 2017 at 11:19 pm
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