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Fun Facts Zero Correlation It’s an election year which means that our clients are asking us if election years impact real estate. According to research done by Real Trends there is zero correlation between election years and the number of transactions in the market compared to non-election years. They found that sales were down in 1980, 1988, and 2008 compared to […]
Fun Facts Big Numbers It turns out a lot of real estate changes hands over the course of a year in our market. In 2019 Metro Denver had… Over 56,000 residential sales Over $28 Billion of residential sales volume Overall, 2019 saw a slight increase in the number of transactions compared to 2018 and approximately a 5% increase in […]
Fun Facts The 12 Facts of Real Estate While your true love may be getting you a partridge in a pear tree in the near future, we decided to give you the 12 facts of Colorado real estate: 1 is the ranking Colorado owns for long-term home price appreciation versus all other states 2.6% unemployment rate in Colorado right now 3.73% mortgage rate […]
Blog All Time High Home Builder’s confidence in Baby Boomer buyers is at an all time high. The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales. The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the […]
Blog County by County Metrostudy, who in our opinion is the leader in new home research, recently did a study on the average price of a new home in each of the Front Range Counties. Here are some interesting takeaways…   If you want to find the least expensive new home on the Front Range, the places to look […]
Blog Job News There is an abundance of great news when it comes to employment in Colorado. The unemployment rate is incredibly low at 2.7% which is almost a full percentage point lower than the U.S. average. According to the Bureau of Labor Statistics, Metro Denver added 28,300 jobs over the last year which ranks 15th out of […]
For Buyers & Sellers Two Tales   This is a Tale of Two Counties. When it comes to new home activity, there is a big difference between Larimer and Weld Counties. Larimer County’s new home starts are down 10% and new home closings are down 15% compared to last year. Weld County’s new home starts are up 18% and new home […]
Blog Time for New   Here is a fact… If you have ever thought about owning a new home, the last two months of the year are usually the best time to make that happen. Here’s why… Many builders have year-end goals and sales quotas to hit.  If they have a “standing inventory” of homes that are completed but […]
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Blog Most Active   What is the most active price range in Northern Colorado?  Take a guess… $300,000 to $400,000 $400,000 to $500,000 $500,000 to $750,000 $750,000 and above By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and […]
Blog Equity Insights The real estate research firm Core Logic just produced their latest Homeowner Equity Insights report.   Some interesting tidbits: ·         63% of all properties nationally have a mortgage ·         Homeowners with mortgages collectively realized a $428 billion rise in equity over last year, an increase of 4.8% ·         Only 3.8% of all mortgaged properties have negative equity (where […]
Blog Net Worth It’s no surprise that for just about every homeowner, their real estate represents the largest portion of their net worth. Check out these numbers from the Federal Reserve’s Survey of Consumer Finances: Median Net Worth in the U.S. = $97,300 Median Net Worth of a Renter = $5,200 Median Net Worth of a Homeowner = $231,400
Blog Reduced Some fascinating research from the Denver Metro Association of Realtors… 37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period. Property owners who have to reduce their price take an average of 58 days to receive an offer. Those who don’t have to […]
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 A Closing Window For home sellers who would like to move to a new home this year, there is a window of time that is closing as we head into the Fall months. Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and […]
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 […]
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