Blog • For Buyers • March 2, 2022

Simple Tips to Make Your Move Easier

by Rondi duPont

Your needs as a homeowner change over time, and you need the right home to fit those needs. Accordingly, it’s highly likely that at some point in your future you will experience another moving day. While moving can be challenging, there are resources to make it easier. If you are remaining in your current area, your Windermere agent can continue to be a valuable resource on communities, schools, utilities, transportation, recreational opportunities, and more.

If you are moving out of the area, your agent can help you with a referral to another reputable agent in your new community. Many agents also have relationships with real estate-related service companies in their area whom they can call upon for information regarding title, escrow, mortgages, temporary housing, and moving services. They can also help guide you in your search as you learn more about new communities and relocation services.

You’ve decided to move. Now what?

Once you have reached your decision, it’s time to gather information, start making decisions and get organized. Begin by creating a “move” file to keep track of your estimates, receipts, and other information. If you’re moving for a job, some expenses may be deductible, so you’ll want the paperwork when tax time comes.

If you are moving out of the area, start researching your new community and ask your agent for help in finding a referral agent in your new area. You’ll also want to determine whether you want to rent first or buy immediately. Your new agent should be able to help you with your decision. Once you know where you’re going, you’re also ready to get estimates from moving companies.

Closing one door, opening another

After you have chosen a moving date and either hired a moving company or reserved a rental truck, it’s time to wrap things up in your old neighborhood and start establishing relationships where your new home is located. This is particularly important if you are moving to a new town/city. You may want to ask your current doctors, dentists, etc. if they have any referrals on care providers in your new location. Be sure to check their recommendations on your insurance company’s online provider search list. Once you arrive, you may also want to ask new coworkers, friends or the school nurse for their recommendations.

Contact your children’s school and/or day care and arrange for their records to be sent to their new school district or day care. Call your insurance agent about coverage en route to your new home and also arrange for insurance in your new home. Remember to contact utility companies to disconnect, transfer or end service in your current home and turn on service in your new home.

You’ll want to file a change of address form with the U.S. Postal Service, either online or at your local office. If you don’t know your new address, have them hold your mail at the post office in your new locale. Don’t forget to cancel or transfer magazine and newspaper subscriptions as well.

If you belong to a health club or other association, contact them about ending or transferring your membership. Some clubs require written notice before cancellation. Finally, contact your bank or credit union to transfer or close accounts; if you have a safe-deposit box, don’t forget to clean it out before you leave.

Starting the countdown

With moving day in sight, it’s time to get organized. Here are a few items to check off your list before you start packing:

Tie up loose ends. Be sure to send out an email or change of address cards with your new contact information to family, friends, and associates. Return library books and any other borrowed items you may still have.
Triage your possessions. Determine what you are taking with you; what you are giving away to friends, family, or a favorite charity; and what is going to the dump or recycling center. If you have time, you can hold a garage sale or post items on craigslist.org or ebay.com.
Clean up. Drain all gas and oil from your mower, other machinery, gas grills, kerosene stoves and lamps, etc., before loading them onto a moving truck. Empty, defrost, and clean your refrigerator at least 24 hours before your move, and prepare other appliances for moving as well.
Have your car serviced. This is especially important if you are driving to your new home.

Packing strategies

If you are doing your own packing, start collecting boxes and/or buy them from your movers. It may take a few days to do your packing, so be sure to pack non-essential items first and label them carefully. If you have any valuables, it’s recommended that you take them with you as opposed to packing them. You risk the chance of losing those items if they’re packed away in boxes. It’s also smart to take along a box of essentials, including items such as toilet paper, paper towels, tape, soap, scissors, pens, paper, and your toiletries. That way you won’t have to track these items down once you’ve arrived in your new home.

For more information on how to make your move easier, visit our Moving Tips page here: How can I make moving easier?

Blog • February 28, 2022

War and Interest Rates

by Rondi duPont

Our clients are curious to know what the conflict in the Ukraine will mean for mortgage rates.

The short answer is down in the near term and up in the long term.

Generally speaking, economic and political uncertainty drive people to invest in bonds rather than stocks, which puts downward pressure on interest rates.

So, in the near term, the conflict in the Ukraine will push rates down slightly. We have already seen this happen as 30-year rates have dipped in the last few days.

The conflict is likely to push oil prices up which means higher gasoline prices. This will cause upward pressure on inflation, which ultimately causes upward pressure on interest rates.

So, the longer the war lasts in Europe, the more likely it is to push interest rates even higher.

Blog • February 24, 2022

5 Ways to Create a Sustainable Kitchen

by Rondi duPont

In many ways, the kitchen is the heart of a home. All the time spent making delicious food, sharing recipes, and enjoying meals with loved ones gives it a central role in home life. A consequence of the time spent in the kitchen is the creation of waste. But by adopting more sustainable practices in the kitchen, you can reduce waste and make your home more eco-friendly. Here are five ways you can create a sustainable kitchen.

5 Ways to Create a Sustainable Kitchen

1. Cut Down on Food Waste

It’s no secret that a certain portion of food always seems to go to waste, but how can you avoid throwing away perfectly edible food items? It starts with being intentional about your grocery shopping. This helps to prevent overbuying and will give you a better chance of cutting down your food waste. Food preservation is key, as well. Invest in high-quality, reusable containers to prevent food from rotting, wilting, or expiring before you intend to cook it.

2. Choose Energy-Efficient Appliances

Kitchen appliances generate a significant amount of power. By using an energy-efficient refrigerator, freezer, and/or dishwasher, you can reduce the overall energy consumption of your household. When deciding on which appliance to purchase, the most sustainable choice you can make is the one you plan on sticking with for a long time. When deciding on a gas versus an electric range, know the pros and cons of each option before making a final decision.

A young man and a woman take care of their kitchen herbs and houseplants.

Image Source: Getty Images – Image Credit: Pekic

3. Reusable Materials

Getting more uses out of the items in your kitchen will help make your household more environmentally conscious. Reusable kitchen towels are an eco-friendly replacement for paper towels when you’re cooking, wiping down your counters, or doing dishes. Using reusable grocery bags is an effective way to transport groceries sustainably. It will also help keep your kitchen organized by avoiding a plastic or paper bag pile-up under your sink. This line of reusable thinking in the kitchen can even extend to design. If you’re looking to give your kitchen a makeover while keeping sustainability in mind, consider incorporating reclaimed wood, sustainably-sourced countertops, or natural materials like bamboo.

4. Use Natural or Organic Cleaning Products

Creating a sustainable kitchen isn’t just about reducing food waste and choosing reusable materials. By using organic and/or natural cleaning products, you can ensure that your cleaning practices are sustainable as well. Using natural cleaners, like baking soda and vinegar, can also create less waste when you repurpose jars and bottles to create your preferred solution. Buy ingredients in bulk, then re-purpose old spray bottles and use towels instead of paper products to clean. Certain conventional cleaning products with synthetic chemicals can negatively impact the air quality in your home, which can have harmful effects on your health, especially if you have respiratory sensitivities.

5. Be Mindful About Water Usage

Neglecting to monitor your water usage is a slippery slope. Not only will using too much water increase the overall waste output of your home, but it will also increase your water bill. Be mindful about using only the required amount of water for cooking, do your best to avoid leaving the faucet running, and if there is a drip, fix it as quickly as you can. Using too much water can also strain your home’s water systems, putting your pipes at risk of bursting. Tempering your water usage can help to prevent water damage and the high costs that come with it.

Going zero waste doesn’t have to be expensive. Try first to extend the life of the things you already have like plastic bottles and textiles. For more information on how you can adopt sustainable practices at home, read our guide to going low-to-zero waste:

A Guide to Going Low-to-Zero Waste

Blog • Fun Facts • February 18, 2022

Money at a Discount

by Rondi duPont

This week, for the first time in 32 months, mortgage rates hit 4%.

While this increase may feel painful for buyers currently looking at property, it is important to put today’s rates in perspective.

We believe we will look back a few years from now and see that a 4% rate was like buying money at a discount.

Interest rates hovered between 4.5% and 3.75% for the 8-year span of June, 2011 to June 2018

Between January, 2000 and December, 2010 rates were as high as 8.25% and as low as 5.0%.

When looking at the history of interest rates and researching economists’ forecasts, we believe it is reasonable for rates to hit 5% within the next 24 months.

When interest rates increase 1%, a buyer’s monthly payment increases 10%.

So, if rates do go to 5%, it is like an additional 10% price increase for a buyer.

Given all of this information, we believe the biggest risk to a buyer in today’s market is to wait.

Mortgage rates are likely on their way up and there is an opportunity to buy money at a discount today.

Blog • For Sellers • February 14, 2022

Should I Remodel or Sell My Home As Is?

by Rondi duPont

Homeowners who are preparing to sell are often faced with a dilemma about whether to remodel or sell their home in its current state. Each approach has its respective advantages and disadvantages. If you decide to remodel your home, it will likely sell for more; but the increased selling price will come at the cost of financing the remodeling projects. If you decide to sell without remodeling, you won’t spend as much money putting your home on the market, but the concern is whether you’re leaving money on the table.

Should I Remodel or Sell My Home As Is?

To answer this question, it’s important to understand the factors that could influence your decision and to work closely with your agent throughout the process.

Cost Analysis: Home Remodel vs. Selling Your Home As Is

Home Remodel

When you remodel your home before selling, you’re basically making a commitment to spend money to make money. So, it’s important to consider the kind of ROI you can expect from different remodeling projects and how much money you’re willing to spend. Start by discussing these questions with your agent. They can provide you with information on what kinds of remodels other sellers in your area are making and the returns they’re seeing as a result of those upgrades. This will help you determine the price of your home once your remodel is complete.

Then, there’s the question of whether you can complete you remodeling projects DIY or if you’ll need to hire a contractor. If hiring a contractor seems expensive, know that those costs come with the assurance that they will perform quality work and that they have the skill required to complete highly technical projects.

According to the Remodeling 2021 Cost vs. Value Report (www.costvsvalue.com¹), on average, homeowners paid roughly $24,000 for a midrange bathroom remodel and about $26,000 for a minor kitchen remodel nationwide, with a 60.1% and 72.2% ROI respectively. This data shows that, for these projects, you can recoup a chunk of your costs, but they may not be the most cost-effective for you. A more budget-friendly approach to upgrading these spaces may look like repainting your kitchen cabinets, swapping out your old kitchen backsplash for a new one, refinishing your bathroom tub, or installing a new showerhead. Other high-ROI remodeling projects may allow you to get more bang for your buck, such as a garage door replacement or installing stone veneer. To appeal to sustainable-minded buyers, consider these 5 Green Upgrades that Increase Your Home Value.

A man and woman look at blueprint plans with a contractor inside a room that’s being remodeled.

Image Source: Getty Images – Image Source: stevecoleimages

Selling Your Home As Is

Deciding not to remodel your home will come with its own pros and cons. By selling as is, you may sell your home for less, but you also won’t incur the cost and headache of dealing with a remodel. And since you’ve decided to sell, you won’t be able to enjoy the fruits of the remodel, anyway. If you sell your home without remodeling, you may forego the ability to pay down the costs of buying a new home with the extra money you would have made from making those upgrades.

Market Conditions: Home Remodel vs. Selling Your Home As Is

Local market conditions may influence your decision of whether to remodel before selling your home. If you live in a seller’s market, there will be high competition amongst buyers due to a lack of inventory. You may want to capitalize on the status of the market by selling before investing time in a remodel since prices are being driven up, anyway. If you take this approach, you’ll want to strategize with your agent, since your home may lack certain features that buyers can find in comparable listings. In a seller’s market, it is still important to make necessary repairs and to stage your home.

In a buyer’s market, there are more homes on the market than active buyers. If you live in a buyer’s market, you may be more inclined to remodel your home before selling to help it stand out amongst the competition.

Timing: Home Remodel vs. Selling Your Home As Is

Don’t forget that there is a third option: to wait. For all the number crunching and market analysis, it simply may not be the right time to sell your home. Knowing that you’ll sell your home at some point in the future—but not right now—will allow you to plan your remodeling projects with more time on your hands which could make it more financially feasible to complete them.

For more information on how you can prepare to sell your home, reach out to me. We can schedule a meeting to walk through your home and discuss next steps based on today’s real estate market!

Blog • For Buyers & Sellers • February 14, 2022

Rent Record

by Rondi duPont

Records continue to be broken in real estate, including the rental market.

Rents just rose another $2 per month to $1,594, a new record.

The annual rent growth of 13.5% nationally in 2021 was more than double any previous year, and apartment absorption counted nearly 600,000 units, which is roughly 50 percent more than the previous annual high, set in 2015.

The single-family rental market continues to outperform the multifamily sector.

Throughout 2021, the average U.S. asking rent gained $190 and 2022 is forecasted to increase by another 5%.

Source: Multi-Housing News

Blog • For Buyers • February 9, 2022

7 Signs You’re Ready to Buy a Home

by Rondi duPont

Making the leap from renter to homeowner doesn’t happen overnight; it requires steady planning to put yourself in a good position to buy your first home. Prospective first-time home buyers can often feel like they’re waiting for a sign to indicate they’re ready to start making offers, when really, it’s a combination of factors. Here are seven signs that you’re ready to buy a home.

7 Signs You’re Ready to Buy a Home

1. You Know Which Homes You Can Afford

To know whether you’re ready to buy, you need to identify your price range. If you’re unhappy with your pre-approval, or need more money for your desired location, there are ways you can increase your buying power. Once you know which homes you can afford, you can work with your agent to find the right home and prepare an offer.

2. You Understand Your Local Market Conditions

The dynamics of the market in which you’re buying will play a role in determining whether you’re ready to buy. The local market conditions will dictate what kinds of offers you can expect to compete against, what tactics other buyers may employ, and whether the buyer or seller will have the leverage during negotiations. Therefore, it’s important to understand the difference between a buyer’s market and a seller’s market so you and your agent can strategize accordingly.

3. You’re Comfortable with the Responsibilities of Being a Homeowner

Having a mortgage instead of paying rent isn’t the only difference between owning a home and renting. You’ll be responsible for maintaining the property, making repairs, and completing remodeling projects. That doesn’t always mean you can’t predict a future need. The best way to prepare for unexpected projects on any home is to get a home inspection before you buy so that you know every inch of the property and can start to save for larger expenses that might come down the road.

4. You Have Funds Available for Home Buying Costs

The costs of buying a home are more than just your down payment and monthly mortgage. Before you move into your new home, you’ll have to pay closing costs, moving expenses, and appraisal and inspection fees, to name a few. Property taxes can sometimes be part of the mortgage and depending on the time of year may need to be paid before you move in. Once you’re settled, homeowners insurance will enter the fold. If you can afford these costs, it’s a sign that you are ready to buy.

5. You’re Making Progress on Your Debt

Having zero debt is not a realistic expectation for every first-time home buyer. But, if you have a plan in place for paying off your outstanding debt and can show evidence of the progress you’re making, it will strengthen your buying credibility. Lenders will factor this into their assessment of your financial health during the pre-approval process.

6. You Have a Strategy for the Down Payment

It is true that lenders view a twenty percent down payment as favorable and won’t require you to purchase private mortgage insurance (PMI), but it’s not game over if you can’t make a lump sum payment of that size. With a lower-than-twenty percent down payment, you may incur higher interest and fees over the life of the loan, which could put a greater strain on your finances long-term than waiting until you can pay more principal down. Whichever route you choose, make sure you have a solid plan in place to repay your loan.

7. Your Life Aligns with Buying a Home

Buying a home means you’ll be putting down roots, so it’s important that you and your household are ready to establish yourselves in one area before you buy. There’s financial logic behind this line of thinking, as well; in general, the longer you stay in one home, the more equity you’ll build. Career and income stability also play a role in determining whether you’re ready to buy. Landing a job with long-term prospects may be just the thing you need to green-light your decision to buy your first home.

To learn more about buying your first home, reach out to me! Let’s schedule a time to meet in person to discuss strategies!

Severance Real Estate • Virtual Tours • February 4, 2022

It’s the One You’ve Been Looking For…

by Rondi duPont

501 Prairie Rose Court, Severance, CO 80550 is a gorgeous 5 bedroom 4 bathroom home awaits. The home boasts an updated kitchen with beautiful granite and stainless steel appliances. There are multiple living spaces to spread out and enjoy. As you enter, relax in the bright sitting room while you savor a good book or entertain in the large family room adjacent to the dining nook. The home is situated on a 1/4 acre corner lot with a lovely paver patio and lights. The gardener in the family will love the existing vegetable beds on the side of the home. Finally, NO METRO DISTRICT. Come see this home today! Call (970) 401-0123 to schedule your private tour or click here for more information.

Blog • January 31, 2022

Must-Haves and Nice-To-Haves Lists

by Rondi duPont

Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home.

A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.

Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.

Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.

These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.

Creating Your “Must-Haves” List

The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.

Here are some questions to ask yourself as you build your “Must-Haves” list:

Where do you want to live? (Be as specific as you can.)
What do you have now that you can’t live without?
What are you missing now that you may need for the next several years?

If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.

Creating your “Nice-To-Haves” List

While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.

Here are some questions to ask yourself as you build your “Nice-To-Haves” list:

What home upgrades are you willing to make?
What is something you’d like to do in your house more often?
What do you have in your current home that you love, but don’t need?

Searching for Your Next Home

These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.

Looking for a real estate agent who can help guide you through the home buying process? Let me know if you would like an in person meeting. I am happy to discuss the home buying process in more detail!

Blog • Fun Facts • January 28, 2022

Steady Stream

by Rondi duPont

Despite the extraordinarily low amount of standing inventory, it is important to understand there is still a steady stream of new inventory hitting the market.

Inventory is low. That is a reality.

New inventory is coming on the market at essentially the same pace as compared to the last few years. That is also a reality.

Because demand is so high, the inventory doesn’t stay on the market very long. Residential listings go from ‘Active’ to ‘Pending’ very quickly (assuming they are priced correctly).

Over the course of 2021, there were 66,308 new residential listings that hit the market in Metro Denver. That is only 5% less than 2020.

Larimer County had 8,342 which is 7% less than 2020.

Weld County had 8,499 which is 5% less than 2020.

While standing inventory is near 50% lower than last year, the stream of new inventory is fairly consistent.

It is time to register for our annual Market Forecast with Chief Economist Matthew Gardner. This year the event will be hosted online on Thursday February 3rd from 11:00 to 12:00.

You can register at www.ColoradoForecast.com