Blog • Fun Facts • May 10, 2019

Inventory vs. Sales

by Rondi duPont

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 single family homes for sale are priced under $400,000. No surprise, this is a popular price range among buyers and it represents 45% of all sales.

So, the ratio is 23% of the inventory versus 45% of the sales.

In Weld County, the difference is more pronounced.

Homes under $400,000 represent 44% of the inventory and 69% of the sales.

Because the percentage of sales is higher than the percentage of inventory, properties under $400,000 will sell much quicker and are more likely to have multiple offers.

To see the latest on the market, be sure to check out a copy of the new Gardner Report, our Chief Economist’s quarterly look at Front Range real estate.

Blog • Foundation • May 8, 2019

Windermere Foundation: Celebrating 30 Years of Giving

by Rondi duPont

Posted in Windermere Foundation by Shelley Rossi

Giving back has always been a big part of who we are at Windermere. In the early days of our company, it was pretty simple; we would see a need and help any way we could. But as we grew, we realized we could accomplish much more if we had a common purpose. That’s how the Windermere Foundation was born.

A big idea

We started with an idea that would give every Windermere agent the ability to make a difference. Housing is our business, so helping homeless families seemed like a natural fit. We later expanded that to include low-income families, with an emphasis on helping children.

Every time a home is sold

For the past 30 years, a portion of every Windermere agent’s commission has been donated to the Windermere Foundation. Having 100% participation gives us a common purpose and sends a powerful message about our commitment to the community.

Who we help

Last year alone we provided funding to more than 500 organizations throughout the Western U.S. Homeless shelters, food banks, schools, hospitals, community centers, parks; the list goes on. The main thing that they all have in common is a deep devotion to helping our neighbors in need.

How we help

Our agents have proven time and time again how committed they are to making their communities a better place to live. Their generosity funds backpacks full of food so school kids don’t go hungry on the weekends. They help keep families in their homes by covering housing costs. And their donations make sure the homeless are getting their most basic needs met, and the dignity that goes with it.

Thank you

If at any point during the past 30 years you’ve bought or sold a home using a Windermere agent, you are a part of the Windermere Foundation too, and you’ve helped make a positive difference in your community. And for that, we thank you on behalf of everyone at Windermere.

If you would like to learn more about the Windermere Foundation, please visit windermerefoundation.com.

Blog • May 6, 2019

Simple Steps for Maintaining Air Quality in Your Home

by Rondi duPont

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Posted in Living by Kenady Swan

Most of us tend to think of air pollution as something that occurs outdoors where car exhaust and factory fumes proliferate, but there’s such a thing as indoor air pollution, too. Since the 1950s, the number of synthetic chemicals used in products for the home has increased drastically, while at the same time, homes have become much tighter and better insulated. As a result, the EPA estimates that indoor pollutants today are anywhere from five to 70 times higher than pollutants in outside air.

Luckily, there are many ways to reduce indoor air pollution. We all know that buying organic and natural home materials and cleaning supplies can improve the air quality in our homes, but there are several other measures you can take as well.

How pollutants get into our homes

Potentially toxic ingredients are found in many materials throughout the home, and they leach out into the air as Volatile Organic Compounds or VOCs. If you open a can of paint, you can probably smell those VOCs. The “new car smell” is another example of this. The smell seems to dissipate after a while, but VOCs can actually “off-gas” for a long time, even after a noticeable smell is gone.

We all know to use paint and glue in a well-ventilated room, but there are many other materials that don’t come with that warning. For instance, there are chemicals, such as formaldehyde, in the resin used to make most cabinets and plywood particle board. It’s also in wall paneling and closet shelves, and in certain wood finishes used on cabinets and furniture. The problems aren’t just with wood, either. Fabrics—everything from draperies to upholstery, bedding, and carpets—are a potent source of VOCs.

The good news about VOCs is that they do dissipate with time. For that reason, the highest levels of VOCs are usually found in new homes or remodels. If you are concerned about VOCs, there are several products you can buy that are either low- or no-VOC. You can also have your home professionally tested.

How to reduce VOCs in your home

Make smart choices in building materials.

For floors, use tile or solid wood—hardwood, bamboo, or cork – instead of composites.
Instead of using pressed particle board or indoor plywood, choose solid wood or outdoor-quality plywood that uses a less toxic form of formaldehyde.
Choose low-VOC or VOC-free paints and finishes.

Purify the air that’s there.

Make sure your rooms have adequate ventilation, and air out newly renovated or refurnished areas for at least a week, if possible.
Clean ductwork and furnace filters regularly.
Install air cleaners if needed.
Use only environmentally responsible cleaning chemicals.
Plants can help clean the air: good nonpoisonous options include bamboo palm, lady palm, parlor palm, and moth orchids.
Air out freshly dry-cleaned clothes or choose a “green” cleaner.

Fight the carpet demons.

Choose “Green Label” carpeting or a natural fiber such as wool or sisal.
Use nails instead of glue to secure carpet.
Install carpet LAST after completing painting projects, wall coverings, and other high-VOC processes.
Air out newly carpeted areas before using.
Use a HEPA vacuum or a central vac system that vents outdoors.

Prevent Mold.

Clean up water leaks fast.
Use dehumidifiers, if necessary, to keep humidity below 60 percent.
Don’t carpet rooms that stay damp.
Insulate pipes, crawl spaces, and windows to eliminate condensation.
Kill mold before it gets a grip with one-half cup of bleach per gallon of water.

We hope this information is helpful. If you would like to learn more about VOCs and indoor air quality, please visit http://www.epa.gov/iaq/.

Blog • Fun Facts • May 6, 2019

Tax Time

by Rondi duPont

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 in mind that this increase is for two years):

Adams 24%
Arapahoe 22%
Larimer 19%
Douglas 14%
Jefferson 14%
Boulder 12%

If you have questions about how to respond to your tax notification, we can help! We would be happy to provide you with an up-to-date market analysis and walk you through the steps on how to protest your new value if you don’t agree with it.

You can also watch this webinar we put together which shows you everything you need to know about your new property valuation and how to respond.

You can watch it HERE.

Blog • Colorado Housing • May 2, 2019

Colorado Real Estate Market Update

by Rondi duPont

The following analysis of the Metro Denver & Northern Colorado real estate market (which now includes Clear Creek, Gilpin, and Park Counties) is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.

ECONOMIC OVERVIEW

The Colorado economy continues to grow, adding 69,100 new non-agricultural jobs over the past 12 months, which represents a solid growth rate of 2.6%. That said, we are continuing to see a modest slowdown in employment gains, but that is to be expected at this stage of the business cycle. My latest forecast suggests that Colorado will add a total of 65,000 new jobs in 2019, representing a growth rate of 2.3%.
In November, the state unemployment rate was 3.3%, up from 3% a year ago. The increase is essentially due to an increase in the labor force, which rose by 77,279 people. On an un-seasonally adjusted basis, unemployment rates in all the markets contained in this report dropped between November 2017 and November 2018. The highest rate was in Grand Junction, but that was still a very respectable 4%. Fort Collins and Boulder had the lowest unemployment rate of 2.9%. All the regions contained in this report are essentially at full employment.

HOME SALES ACTIVITY

In the fourth quarter of 2018, 12,911 homes sold — a drop of 13.8% compared to the last quarter of 2017 and down 22% from the third quarter.
The only market that saw growth in sales was Clear Creek, which rose by 3.8%. This is a small market, however, and is prone to rapid swings in price as well as sales. There was a significant drop in sales in the Denver market. I will be watching closely to see if this is an anomaly or a longer-term trend. At this time, I believe the former to be true.
Interestingly, this decline in sales in Denver came as inventory levels rose by 37%. For now, I attribute this to seasonality and expect to see sales growth return in the spring.
Inventory growth continues to give buyers more choice, allowing them to be far more selective — and patient — before making an offer on a home. That said, well-positioned and well-priced homes are selling relatively quickly.

HOME PRICES

Despite the rapid rise in listings and slowing home sales, prices continue to trend higher, though the rate of growth is slowing. The average home price in the region rose 6% year-over-year to $454,903. Home prices were 2% higher than in the third quarter.
In all, the data was not very surprising. As with many markets across the country, affordability is starting to become an issue. However, the recent drop in interest rates likely stimulated buyers at the end of 2018 and I expect to see good price growth in the first quarter of 2019.
Appreciation was strongest in Park County, where prices rose 28.2%. We can attribute this rapid increase to it being a small market. Only Gilpin County saw a drop in average home price. Though this, too, is due to it being a very small market, making it more prone to significant swings.
As mentioned, affordability is becoming an issue in many Colorado markets and I anticipate that we will see some cooling in home price appreciation as we move through late 2019.

DAYS ON MARKET

The average number of days it took to sell a home in Colorado rose by one day compared to the final quarter of 2017.
The amount of time it took to sell a home dropped in four counties: Boulder, Larimer, Gilpin, and Park. The rest of the counties in this report saw days on market rise relatively modestly with the exception of the small Clear Creek market, which rose by 20 days.
In the fourth quarter of 2018, it took an average of 38 days to sell a home in the region, but it took less than a month to sell a home in five of the eleven counties contained in this report.
Housing demand is still there, but buyers appear to have taken a little breather. I anticipate, however, that the spring will bring more activity and rising sales.

CONCLUSIONS

The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the fourth quarter of 2018, I continue the trend I started last summer and have moved the needle a little more in favor of buyers. I will be closely watching listing activity in the spring to see if we get any major bumps above the traditional increase because that may further slow home price growth — something that would-be buyers appear to be waiting for.

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governor’s Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Posted on April 11, 2019 at 2:45 pm
Fort Collins | Category: Blog, Colorado Housing, Colorado Real Estate | Tagged colorado real estate, Colorado Real Estate Market, Conclusions, Days on Market, Economic Overview, Home Prices, Home sales activity, Windermere

Blog • For Buyers • May 1, 2019

How to Get Started in Real Estate Investing

by Rondi duPont

Posted in Buying by Kenady Swan

Investing in real estate is one of the world’s most venerable pathways to building wealth. When properly managed, income from renting or real estate investment trusts can provide you with the financial security to plan out the rest of your life. The conclusion is easy to envision, but knowing where to begin can be overwhelming, particularly for anyone who has never previously owned a home.

At Windermere our goal is always to improve and support our communities, so we’ve put together a few key things to keep in mind as you enter the world of real estate investment.

Know the right type of investment for you

Investing in real estate needn’t commit you to being a landlord. A Real Estate Investment Trust (REIT) is a low-maintenance way to get involved in real estate with next to none of the day-to-day monitoring required of direct property management. REITs are trusts that typically own multiple properties, and investors may purchase shares within the REIT. Typically, as the value of the property rises, so too do the values of your shares. If you’d like to dip a toe into real estate investing before diving in fully, a REIT is a great place to start.

Start with your own home

Owning the roof over your head is a basic step towards investing success. Even better, when you plan to live in the home you’re buying (rather than renting it out), you will likely benefit from lower mortgage rates and a cheaper down payment. The reasoning is straightforward – lenders see a loan to people purchasing the home they live in as an investment in people highly committed to the property.

Once you’ve owned your own house for a few years, you can look to purchase a new home to move into. By purchasing the new home with the intent to move in, you’ll be eligible to receive more favorable financing once again. After you’ve secured your new home, your first home is primed to be transformed into a rental property, and you can continue to see a return on your investment. If you’re seeking further support with buying a first, second, or third home, our website and our agents are full of information.

Cast a wide net

The best investment opportunity isn’t always going to be right underneath your nose. While there are logistical benefits to focusing locally with your investment, you may miss more profitable opportunities in another burgeoning market. Real estate is a long game, and patience tends to be rewarded. There’s no cause to rush a decision of this magnitude, so investigating other states and regions to find the property that best fits your situation is a process worth considering.

For Buyers • Fun Facts • April 29, 2019

What’s New?

by Rondi duPont

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 were at their lowest point in recent history and roughly half of what there were at their highest point.

How about locally?

According to our friends at Metrostudy, sales of new homes along the Front Range are up 20% over last year.

Front Range builders have had 28 consecutive quarters of new home start increases and are now building a similar amount of new homes as compared to 2007.

So, the new home market is strong but there is no indication of builders over-supplying the market.

Blog • Housing Trends • April 29, 2019

When it comes time to downsize

by Rondi duPont

When it comes time to decide if you want to downsize, there are many thoughts and emotions that go speeding through your mind. Maybe you have already decided this is your home for the rest of your life. Your home was the perfect place to meet your needs when you were in an earlier cycle of life, and will be the ideal home for all the events you see happening in your next. If you are inclined to feel that the home you currently reside in may have out-lived its purpose, you may be struggling with some of the same thoughts and emotions my husband and I had when it came to the emotional and financially sensitive decision to downsize.

In our situation, we loved our home. It provided everything we needed to raise our three children, plus nurture all the creative projects that identified who we are as a family as well as individuals. Our children were just like anyone else’s; loved, individually different, all requiring unique activities and space to help them grow, using their special talents. We loved our neighborhood and took an active part in making it an extension of our home. Considering that it had been our home for decades, deciding to leave was emotionally difficult.

We spent several years before we knew we would leave our home, looking at all the smaller options. We wondered, should we look for another single-family dwelling or check out other options like co-ops of condominiums? My husband had spent the past twenty-five years mowing our lawn and was quite willing to remove this task from his plate. I, on the other hand, still loved to garden. Was there a living environment that could satisfy both these expectations? We looked at every condominium and every co-op in the Seattle area for five years, but nothing really fulfilled everything we needed. We had a list of features including a garden spot, closets and efficient use of space, etc. I’m an Old World Charm lady, but guess what? Back in the 20’s ladies only owned three dresses. Let’s just say, I own a few more outfits than most pre-war closets were meant to hold. So the search went on.

When our children finally reached their 20’s and my husband wanted to retire, we knew it was time to make our move. Like I said, everyone loves their children, but not all the party time we now came to expect in our rec room every weekend. We were ready to have a space of our own, and it was time for our kids to begin their next cycle in-life. We also had too much of our finances tied up in a 3,000 square foot house, when in reality we needed less and could save more. We had to leave the home we had dedicated to making our unique expression of who we were, and leave very soon.

If any of this sounds familiar, your task will be a little easier than it seems! Here is some practical advice for making your move:

Define your needs: Narrow down your ideal needs. Start by deciding if you want a single-family versus multi-family dwelling. Consider your price range, and then space needs.

Downsize: We downsized a bit more than we should have, but we sure got rid of lots of items we collected over the past 25 years. Some of them were special to me. I’d purchased a beautiful wood serving tray at a yard sale with one of my dearest friends. I had to borrow money from her to buy it. I solved the problem by giving it to her when we moved, and I still see it when I visit her home. My children took much of the furniture they had a special connection to, and my nephew, who spent nearly every Christmas sitting in his favorite red chair, can now enjoy it in his own home.

Let go: Leaving the neighborhood and all our lifelong friends was the most difficult process, I think, of all the decisions we had to make. We still see them, but as I’m writing this my eyes are tearing up. It’s hard to re-visit my old neighborhood and see my old home cared for in a different way than I had lovingly done for twenty-five years. But it does give us plenty of things to talk about with old friends when we get together.

What did we end up doing? We moved into a vintage 1930’s co-op in a walkable part of town. I have just the right amount of gardening space that I share with other owners. We have made wonderful friends with some of our neighbors and get together frequently for happy hour and spur-of-the-moment gatherings. It’s a different lifestyle than we had before but, believe me, there are plus sides. In no way will any of our three wonderful, adored, adult children ever be able to move back home, since we now live in an 850-square-foot co-op with every space used on a daily basis. There were times when I wouldn’t go in one of my rooms in our old home for several weeks. This is not a problem now. Yes, maybe it’s too small, but we can always move into a larger place if and when we feel it’s time.

What are your questions about downsizing your home? What features do you require to live in a smaller, more efficient dwelling?

Pat Eskenazi is a Windermere veteran, working in marketing for the past 12 years. She has lived in Seattle since 1952. Her favorite place to walk is along Golden Gardens, and she especially loves to climb the stairs up to the Sunset Hill neighborhood where she lived with her 3 children and husband for 25 years.

Blog • Housing Trends • April 24, 2019

Just a Dash of Feng Shui

by Rondi duPont

What is a home if not personalized to those who share its walls? Feng Shui is intended to create a place of peace, balance and harmony for you and yours. You can achieve this type of atmosphere through the things you bring into your home and the way that you stage your environment.

Feng Shui helps enhance your space and deliver positive energy by creating a more comfortable, clutter-free environment, and incorporating the influential elements found in nature. A recent article titled Feng Shui Basics for Home Decorating provides what I consider the simplest definition:“the use and placement of objects and materials to create a harmonious flow of life energy. As such, the design of each room should be based on the people who use it the most.”

To better understand Feng Shui, it is important to know the elements in which it is grounded: Water, Earth, Fire, Metal and Wood. Incorporating these elements into your home can be surprisingly simple, inexpensive, and do-it-yourself.

Element by element, here are some ideas and explanations of Feng Shui for your home:

- Water: The water element also includes wind. Blues and blacks represent this element, as does integrating a water source in a home, which gives off a presence of refreshing movement. Rock fountains and indoor aquarium tanks are common in Feng Shui-oriented homes.

Using mirrors in your home can be another way to incorporate the water element. The reflective surface of a mirror is similar to the properties given off by a pond or lake. A fashionable mirror can be arguably as attractive as a framed picture, and doubles as being resourceful when you would like to check out your look. Decorating with mirrors can be perfect for a living room space that needs light and enlargement, and a flow of movement.

The living room is typically one of the largest shared spaces of movement in a home, so incorporating a tasteful mirror in this room would be oh-so-appropriate.

- Earth: “Adding the earth element to your home quarters strengthens feelings of safety and security. The grounding support of earth energy should bring comfort to the soul and tone things down” is how Happy Home Zone describes home decorating with the earth element.

A simple way to add the earth element to your home is by use of color, and earth tones are the most obvious source. But if tans, browns and oranges are not your thing, try a deep red, mossy green or an off shade of white.

You don’t need to paint every wall or replace your furniture. Start small with a cream throw or piece of artwork. Cream is a color that matches almost any other. Earth tones in beiges, brown, tans and off-whites are also aesthetically pleasing accent colors.

Due to the calming, soothing properties earth tones extract, your bedroom would be a perfect place in which to add this element.

- Fire: Another element you may consider incorporating into your bedroom is fire, due to its association with passion, happiness and love. Keep in mind, however, that fire should be used lightly; in large amounts its passionate properties can give off anger vibes.

An article titled How to Decorate with Earth, Fire, Wind and Water suggests incorporating the fire element through the use of “silks and synthetic fabrics, images of sunrises, geometric abstracts, triangular shapes, animal patterns, the color red and candles”.

Candles are always in style, fit well in nearly any room, and come in a variety of shapes and sizes. They can be inexpensive to buy or a fun Do-It-Yourself craft project. A candle display can work nicely in a bathroom and double as an air freshener.

- Metal: According to Spiritual Feng Shui.com, “metal is a symbol of wealth and protection. Metals include stainless steel, aluminum, sterling silver, or iron.”

One of the most obvious places to incorporate metal would be in your kitchen. But metal has taken on a new trend outside of kitchen appliances; metal decorations can be used in any room you choose, and can be trendy and tasteful for both men and women. Check out these great precious metals and be inspired!

- Wood: The wood element represents growth, and can be incorporated through almost any vegetation you choose to bring into your home. Indoor herb gardens or a potted houseplant can enhance your home aesthetically by being decorative and fragrant.

Growing your own edible vegetation can be a profitable experience, saving money on your grocery bill and adding flavor to your food. But if you lack the outdoor space to do it, read how indoor gardens can be accommodating. Indoor gardening is something your entire household can get involved in and enjoy.

Essentially, among other properties, Feng Shui is about balance – balance in your environment for you and for those with whom you who share your space. If Feng Shui is something you are interested in, start by adding a few of these elements into your décor and gradually increase them as you see fit, to find what balances your home best for YOU.

How do you achieve balance in your living space?Brittany Lockwood works in Marketing at Windermere Real Estate. She is the in-house expert on weatherizing, yard-sales and interior design. She lives in Seattle in a renovated condo which she enjoys re-arranging and decorating.

Blog • Housing Trends • April 22, 2019

Make the Most of the Home You Have

by Rondi duPont

If you have been in your home for a while you may be restless for change. The great part about having a home of your own is you can make improvements and give your home a chance to evolve over time. You just need to help your home live up to its potential! Here is a top ten list of improvements that will help you make the most of your home.

1. Find your home’s purpose. Each home is as unique as its owners, so in order to fully utilize your home, consider how you view your home’s purpose. Some people like to entertain, others find it a calm space in the frenzy of daily life; some nurture their families and others nurture their creativity. Your home’s purpose can be any combination of these and more, but it helps to consider the function of your space in order to ultimately find its purpose.
2. Assemble a list. A list always helps me figure out where to start or prioritize what is the most important project. Think about what you want to change in your home, inspirations, and preferences.
3. Make an “inspiration board”. An “inspiration board” is a great way to visualize your home’s decor. You can create a board online with a tool like Pinterest to organize ideas you love or you can do it the old fashioned way with a board, magazine cutouts, color swatches, and fabric samples. Doing this will allow you to see all the elements you like in one place so that you can then tie it all together into a room you love.
4. Create a collection. If you have items that you like to collect, think about how to transform that collection into something you can display. If you don’t already have a collection of loved objects think about what this collection would be for you. You can center a room design around your travel souvenirs, old camera collection, figurines, unique plates, or familial objects. Adding to this collection over time can be a great way to keep your spaces new while maintaining a personal feel to your decor.
5. Choose a new palate. Shake up your sensibilities and think of a color that will compliment your room while making a statement. It’s easy to fall into the white/beige standby to keep our rooms neutral, but sometimes a color that provides a contrast to your décor will make the room pop.
6. Repurpose an old piece of furniture. Instead of replacing your furniture give it a facelift. You can have a sofa or chairs reupholstered or make use of a slip cover. Also, Painting and staining can add new life to your wood pieces.
7. Rearrange. Moving furniture around is another easy way to reinvent your space. Try placing your sofa on an angle to open up your entertaining room or move your lamps to improve lighting. You can also think about moving a piece of furniture into a room to give it new life, like using a unique dresser for a credenza or a chair as a side table.
8. Make a room of your own. Find some space in your home that is uniquely yours, whether this is the corner of the guest room or an office of your own. It can be very rewarding to have a space that you can organize to fit your personal needs without the worries of others intruding
9. Find an inspirational object. Have you ever fallen in love with an object that inspired you to want to completely redo a room to accommodate it? Designing a room around an inspiring object can be a great way to create a space that truly embodies your design sensibility.
10. Find design motivation. Home design evolves over time and can be sustained by finding items that inspire you. Read magazines and books that inspire your interests in architecture, design, art, etc. Or find stores and flea markets that sell pieces that influence your aesthetic. Or bring a camera with you when you’re doing your favorite activities and bring back memories or inspirations. Most of all have fun!

What inspires your home design?