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Fun Facts 1 Million + We have our pulse on the high-end luxury market. The activity in price ranges over $1,000,000 is an effective indicator of the health of the overall market. If buyers for luxury properties are active, it tells us that “smart money” is confident about real estate in Northern Colorado. So far this year, 107 luxury properties […]
Blog Rate Bounce Rates hit near-historic lows this week and are now at 3.49% for a 30-year mortgage. There have only been two other times in history when rates have been this low- April 2013 and October 2016. It’s interesting to see what happened soon after bottoming out these last two times. In April of 2013 rates hit […]
Blog Ranked! The latest report from the Federal Housing Finance Authority is hot off the press. They rank 241 major metropolitan areas across the U.S. for yearly home price appreciation. They show that, nationally, home prices have gone up 4.99% over the last 12 months. Here’s how the major cities rank in Colorado among the 241:   […]
Blog How Much? So how much real estate is sold in Northern Colorado? As it turns out, a lot! Last month alone there were 1,099 single family homes that sold in Larimer and Weld Counties The average price was $429,144 which means the total sales volume for one month was $471,629,129 (almost a half a billion)! Over the last 12 months, […]
Blog On Sale With interest rates so low, one could argue that money is essentially on sale. It’s actually half off. 30-year mortgage rates hit 3.75% which is exactly half of their long term average. Rates have averaged 7.5% over the last 40 years so today buyers are getting half of that rate. The “sale” on mortgage rates […]
Blog What We Notice Here are some observations we have about the market right now: Inventory is up, price reductions are up, the length of time to sell a home is up Seller concessions are more prevalent Sellers are more willing to accept contingent offers (especially in higher price ranges) If a home doesn’t sell within a week, it […]
Blog Home-ownership Rate An interesting stat which can give some insight to the national market is the Home-ownership Rate. It simply looks at the percentage of Americans who own their home instead of rent. The most recent report from the Census Bureau shows the rate at 64.2%. Most importantly, this number is showing stability after many years of […]
Blog Compound Effect If you have driven on I-25 lately you may have noticed that the Front Range is a popular place. The projections show that it will only get more popular in the future. Today, 4.8 million people live along the Front Range from Fort Collins down to Pueblo. In 2030, just 11 short years from now, […]
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Blog 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 […]
Blog 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 […]
Blog New Home News! Nationally, sales of new homes are stronger than they have been in a long time. March was the best month since 2007 and April was the third-best month in that same time period. This research comes from the National Association of Home Builders who show that we are on pace to sell 673,000 new homes […]
Blog Down Again Mortgage rates dropped again for the fourth week in a row.   The average 30-year rate is now 4.06% which is the lowest it has been all year. Rates today are actually the lowest they have been since early 2018. The main factor driving rates down is the trade war with China. Investors are shifting […]
Blog The Question of the Day As we are helping people understand their new property assessments and putting together information so that they may protest their new valuation, here is the most common question we hear… Did my property really go up that much? Here are some stats that will help you answer that question. First, you need to know that […]
Blog Inventory vs. Sales A stat we find interesting is the relationship between the inventory for sale versus what is actually selling. Specifically what we look at are price ranges. We are curious to know if the inventory that is for sale lines up with what the buyers want. Here’s what we notice… In Larimer County, 23% of all the […]
Blog Tax Time Property owners all over Colorado have a gift waiting for them in their mailbox- their new property tax notifications. Every two years, each county in Colorado places a new value on property for property tax purposes. No surprise, values were up along the Front Range. Here is the percentage of increase for various Colorado counties (keep […]
For Buyers What’s New? All about new homes… Nationally, sales of new homes are up 3% over last year and are running at an annualized pace of 697,000 homes. To put that in perspective, in April 2011 the annual pace was 310,000 homes and in April 2005 it was 1,260,000. So, nationally, new home starts are roughly double what they […]
Blog Chugging Along The real estate market keeps chugging along. Here’s news from the Mortgage Banker’s Association… Last week, applications to purchase a home hit their highest level since April 2010. This is clearly a sign that the spring selling season is starting off in full swing. You may remember that the reason why April 2010 was so active […]
Blog Which Market? So, which is it? A buyer’s market or a seller’s market? Well, it depends! First, let’s define each market. According to research, a buyer’s market exists when there is more than 4-6 months of inventory on the market. If it would take longer than 4-6 months to sell out all of the inventory currently for […]
Fort Collins Real Estate Get Real 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 […]
Blog It’s Tax Time You probably don’t need a reminder that this is tax season. Not only because tax returns are due in two weeks but also because you will soon receive your property tax notification in the mail. Every two years your County re-assesses the value of your property and then sends that new value to you. When […]
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