Blog • Fun Facts • December 1, 2023

Most Surprising News

by Rondi duPont

The most surprising piece of news for our friends and clients is that prices are essentially flat compared to last year. People find that surprising given what interest rates have done over the last 18 months. They wonder, how could prices not fall significantly after interest rates jumped considerably?

The answer is the fundamental economic lesson of supply and demand.

There is enough demand in the market for the current supply to keep prices stable even in an environment of higher rates.

Now that rates are (finally) trending down, it gives us even more confidence about the continued growth of real estate prices along the Front Range.

Here is a look at how home prices compare to one year ago:

Larimer County = Down 0.8%

Weld County = Up 3.4%

Metro Denver = Up 0.8%

Uncategorized • November 17, 2023

Highly Active

by Rondi duPont

In addition to tracking the average price for sold properties, it is also interesting to track the average price for active properties.

Asking prices are up across all markets when compared to the same time last year.

Here are the average list prices for residential properties along the Front Range:

Larimer County = $893,000 (8% higher than last year)
Weld County = $702,000 (6% higher than last year)
Metro Denver = $847,000 (5% higher than last year)

These asking prices are higher than average sales prices by approximately 30%. This is because there are many high-end properties on the market which take longer to sell and which pull up the average.

Blog • Fun Facts • November 10, 2023

A Rate-Induced Pop

by Rondi duPont

The recent drop in mortgage rates triggered a measurable uptick in sales activity.

So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year.

This is despite interest rates being higher than they were last year.

Mortgage rates just had their biggest one-week drop in over a year and buyers clearly responded.

Pending sales through November so far are up versus last year:

48% in Larimer County

20% in Weld County

Virtual Tours • Windsor Real Estate • November 8, 2023

Exquisite Ranch-Style Home in Water Valley South

by Rondi duPont

Discover 175 Halibut Drive, an exquisite ranch style home in Water Valley South showcasing 3 bedrooms and 3 bathrooms. This home has been updated throughout and will not disappoint. The main level includes a separate office with double doors ideal for remote work or personal projects. The living room is adorned with a charming fireplace, creating a warm and cozy ambiance perfect for intimate gatherings. The finished basement includes a wet bar and offers the perfect space to spread out or gather to watch an exciting sporting event. The outdoor living area boasts mature perennial landscaping that envelops the meticulously maintained exterior, creating a serene and inviting atmosphere. For the golf enthusiast, the oversized 2-car garage is uniquely designed to accommodate a golf cart or provide extra space for work benches. Situated in a coveted community offering access to pristine lakes, parks, and world-class golf courses, this home truly epitomizes the essence of luxurious, year-round resort-style living. Call (970) 401-0123 to schedule a private tour or click here for more information.

Blog • Fun Facts • October 23, 2023

Net Worth Surge

by Rondi duPont

Net worth surged for American families during the pandemic era, largely because of increased home values based on the Federal Reserve’s Survey of Consumer Finances.

Net worth is a measure of household assets after accounting for liabilities. After accounting for inflation, median net worth jumped to $192,900, a 37% increase from 2019-22, the Fed found.

That percentage growth was the largest since the Fed started its modern survey in 1989. It was also more than double the next-largest increase on record. Between 2004 and 2007 real median net worth rose 18%.

Blog • For Sellers • Fun Facts • October 6, 2023

Increasing Reductions

by Rondi duPont

More and more sellers are having to reduce their listing price.

Nationally, 37% of all home sellers have recently had a listing price reduction. This is according to a recent report from Altos Research.

This is up from 30% in May and is now at the second-highest level since 2018. The highest it has been in the last five years is November 2022 when it stood at 41%.

A “normal” range is between 25% and 30%. Today’s number is a result of softening demand based on higher interest rates.

Proper pricing is always important for a seller and is especially so now as we enter a typically slower time of the year with added challenges related to interest rates.

Severance Real Estate • Virtual Tours • September 21, 2023

Comfort + Convenience in Severance

by Rondi duPont

Welcome to 247 Castle Drive, where sophistication blends seamlessly with practicality! This impressive 2 story home showcases newly finished floors on the main level, highlighting stylish LVP flooring that combines aesthetics with durability. The kitchen features stainless steel appliances, upgraded cabinets, and a large island, perfect for entertaining in the open concept floor plan. Boasting a 3-car garage, this property provides abundant space for all your parking and storage needs. Step outside to the inviting covered deck and stamped concrete patio ideal for year-round enjoyment. Inside, you’ll discover a versatile loft space and a separate office, perfectly suited for remote work or creative endeavors. With 4 generously sized bedrooms and 3 contemporary bathrooms, this home effortlessly harmonizes comfort and convenience, making it the ultimate place to call home. Call (970) 401-0123 to schedule a private tour or click here for more information.

Blog • Fun Facts • September 15, 2023

$44 Trillion

by Rondi duPont

Have you ever wondered how much all of the residential real estate in the U.S. is worth?

It’s $44.5 trillion.

That’s 44 with 12 zeroes after it.

This data comes from the Federal Reserve’s Quarterly “Z.1” report.

The total valuation increased by $2.4 Trillion over the last quarter and is essentially flat compared to one year ago.

In total, liabilities on residential properties (mortgages, equity loans, etc.) is $12.9 trillion.

So, collectively, residential property owners in the U.S. have a 71% equity share and owe 29% of the value.

Fort Collins Real Estate • Virtual Tours • September 14, 2023

Charming Mid Town Ranch Style Home

by Rondi duPont

Welcome to 2724 Worthington Ave, a charming 3 bedroom and 3 bathroom ranch style home nestled in Mid Town. Enjoy sitting next to the wood burning fireplace in the winter or relaxing in the finished basement with wet bar on a hot summer night. Situated on approximately 1/3 acre lot, this property boasts ample space for outdoor activities and entertainment. The expansive yard provides endless possibilities for gardening, hosting gatherings, or simply reveling in a little elbow room. There are 2 sheds in the backyard offering additional storage space for tools, equipment, or recreational items. These sheds are perfect for those who enjoy pursuing hobbies or need extra room for storing belongings. The roof was replaced in 2018 and the furnace and air conditioner were replaced in 2017. There is NO HOA OR METRO TAX. Don’t miss your chance to make this lovely property your own! Call (970) 401-0123 to schedule a private tour or click here for more information.

Fort Collins Real Estate • Virtual Tours • September 11, 2023

The Perfect Blend of Elegance + Natural Beauty

by Rondi duPont

Discover the perfect blend of elegance and natural beauty at 5332 Castle Pines Ct in Southridge Greens! This impeccable home boasts a recently upgraded kitchen with quartz countertops, stainless steel appliances, custom cabinetry, and a center island for meal preparation and casual dining. The lush, mature landscaping provides privacy and a serene backdrop for outdoor gatherings on the newly rebuilt and extended deck. The majority of the windows and the glass sliding door have been replaced with the Pella fiberglass windows and door, letting natural light flow through the home. Enjoy the comfort of the spacious primary suite with vaulted ceilings. The basement is finished perfectly for a theatre setup allowing guests to spread out throughout the home. Located in a sought-after neighborhood with easy access to amenities, dining, parks, and schools, this home offers a rare opportunity for luxurious living in a golf course community. Don’t miss out! Call (970) 401-0123 to schedule a private tour or click here for more information.