Going from Homeowner to Home Seller

The following post was written by Kathryn Madison, a real estate broker out of the Windermere  Portland-Raleigh Hills office. You can learn more about Kathryn and read more insightful articles on her blog, GoBeyondtheOrdinary.com.

How do we transition from the mindset of a homeowner to a home seller?  Homes bring us shelter, comfort and are a place to express our individuality. But when it’s time to move on, that same home will now be the financial springboard to the next chapter in our lives.

We start by letting go of the home layer by layer.

Both buyer and seller benefit when the seller- perhaps with some judicious coaching from their skilled Realtor- peels away those things that made their home uniquely theirs. In essence, the serious packing begins once the decision has been made to sell; bookcases and closets should only suggest their function with a few items, rather than store seasons and years worth of books and clothes. Carefully removing prized collections and family photos is also vital- nothing should distract the buyer from seeing the house, and seeing themselves in it.

Personal colors are just as important to remove as objects. After all, if you were serving ice cream to a few thousand people (that’s how many will see your house photographed online)- would you serve them mango flavor? It’s a lot more likely you would choose vanilla- and that’s pretty much what the color of your walls should be- neutral or deep neutral tones.

The last touch is a good deep cleaning- ask your REALTORtm if they have the name of a reputable company.

The seller can then replace those familiar objects with a fresh new welcome mat at the front door.

This process allows the buyer the visual and emotional space to move in.

This process allows the seller to move on.


Posted on February 22, 2019 at 8:00 am
Jon Holsten | Posted in Homes for Sale, Housing Trends, Selling | Tagged , , , ,

5 Deal Breakers That Can Blindside Home Buyers

Purchasing a home can be a complex endeavor for even the most well prepared home buyer.  You’ve diligently saved for your down payment, followed the market, researched agents and now you are ready to make an offer on your dream home.  Don’t let these 5 “Deal Breakers” come between you and your new home.

    1. Big Purchases on Credit. It is tempting to buy the furniture for your new home or a new car for the garage before the sale closes. Take care if you are making these purchases on credit. Large purchases on credit can have a major impact on your credit profile which effects your mortgage application. It’s a better plan to wait until after closing or pay cash for these transactions or you may be putting that furniture in a different living room than you originally picked them out for.
    2. Overpaying. Before your bank will approve your mortgage they will appraise the home you are purchasing.  If they feel you are overpaying they are likely to decline your mortgage application. If you find yourself in this situation consult with your agent on renegotiating your offer to be more in line with the bank’s appraised value.
    3. Purchasing too close to Foreclosure. If you are making an offer on a house which is facing foreclosure be sure to have a closing date set before the foreclosure date. Have your agent work with the lender to structure closing before the house goes back to the bank and into foreclosure.
    4. IRS liens. You’ve heard the old saying “Death and Taxes”.  Back taxes and liens can derail your attempts to get financing for a mortgage so be sure to have your books in order before filing your loan application.
    5. Comprehensive Loss Underwriting Exchange (CLUE). CLUE is a data base of insurance claims for both people and property.  Your home insurance rates are determined by the information about you and the property you plan to purchase which is contained in this report. Past claims for water damage, falling trees and even dog bites from present and past owners can multiply your insurance rates. Consult your agent about the CLUE report for your future home as soon as possible once your home purchase offer is accepted.

When purchasing a home there will be challenges which you can plan for and the unexpected hurdles.  By educating yourself as a consumer and choosing a well trained real estate agent you can avoid many of the pitfalls of 21st century home ownership.

What about you? Tell us if you have had any “deal breaker” experiences.


Posted on February 21, 2019 at 4:34 pm
Jon Holsten | Posted in Buying, Fort Collins Real Estate, Loveland Real Estate, Northern Colorado Real Estate, Timnath Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , , , ,

5 Home Improvements That Will Boost Your Property Value

A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.

We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.

1. Add a little curb appeal 

Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.

Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.

Other improvements you can easily make to your curb appeal include:

  • Pressure wash the exterior
  • Liven up your front door with a fresh coat of paint
  • Replace hardware such as doorknobs and knockers
  • Install updated house numbers
  • Make your walkways pop with new greenery or flowers
  • Plant a succulent garden
  • Update your porch lights
  • Add a little charm with window flower boxes
  • Stage your porch

 

2. Install hardwood floors 

Installing or upgrading hardwood floors is pretty failsafe as most buyers love it. Ninety-nine percent of real estate agents agree that homes with hardwood floors are easier to sell, and 90 percent of agents say that they sell for a higher sale price, according to the National Wood Flooring Association. Similarly, research from the National Association of Realtors shows that 54 percent of homebuyers are willing to shell out extra cash for homes with hardwood.

As for your return on investment, NAR’s 2017 Remodeling Impact Report projects that homes that already have hardwood floors will likely see 100 percent return. On the flip side, installing hardwood flooring pays off almost as well with a 91 percent return on investment. It can cost about $5,500 to install, and it’s projected to add about $5,000 to the home value. These estimates may vary depending on the type of flooring you install.

 

3. Upgrade your kitchen

According to the National Association of Realtors, real estate agents believe that complete kitchen renovations, kitchen upgrades, and bathroom renovations will add the most resale value to a home (in that order). However, complete kitchen renovations can be costly and unnecessary. In fact, kitchen remodels have some of the worst return on investment stats. Remodeling Magazine’s 2017 Cost Vs. Value report found that a mid-range kitchen remodel cost exceeds its resale value by more than $21,000, and that number more than doubles in an upscale remodel. Rather than spend a ton of cash and weeks (or months) on renovating, put a little elbow grease and a small budget into it.

Instead of doing a full renovation, focus on these smaller updates:

  • Clean
    • Organize your pantry
    • Use a little Murphy Oil Soap and hot water on all of your cabinets
      • Polish cabinets with Howard Feed-In-Wax
      • Tighten all hinges
    • Clean grout and tiles
    • Shine your sinks and hardware until you can see your face in it
    • Deep clean your stove
  • Give your kitchen a fresh coat of neutral paint
  • Update lighting fixtures, and replace light bulbs
  • Spring for a new cabinet and door hardware
  • Make your countertops look new
  • Upgrade your appliances

 

4. Go green

Today’s younger generations are embracing eco-friendly living, and millennials are leading the pack. According to the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends Report, millennials make up the largest segment of buyers, holding strong at 34 percent of all buyers.

When it comes to attracting buyers who are willing to pay top dollar, going green makes sense. A Nielson study found that, of more than 30,000 millennials surveyed,66 percent are willing to shell out more cash for conservation-conscious, sustainable products. Depending on where you live, consider installing solar panels, wind turbines, and eco-friendly water systems.

No matter where you live, attic insulation replacement and weather stripping are safe bets. Attic insulation replacement was a top home improvement upgrade last year, and homeowners saw a 107.7 percent return on the investment. Weather stripping, a fairly inexpensive DIY project, costs, on average, about $168 nationally.

 

5. Create a summer retreat

Homes with pools can fetch a higher selling price if done properly. There are in-ground pools and above-ground pools. To truly add value, you’d want to go with an in-ground pool. It’s a permanent investment that costs more upfront, but above-ground pools don’t really add anything to a home other than a nice personal oasis from hot weather.

Pools cost about $1,000 on average to maintain between the seasonal openings and closings, necessary upkeep and utility bills, according to Houselogic.com and financial consultant Dave Ramsey’s website. Some buyers might not be up for that cost. However, pools can help sell a home especially when you live in a higher-end neighborhood where everyone has pools and in warmer climates like Florida, Arizona or Hawaii.

Ramsey wrote that a well-marketed in-ground pool can boost a home’s value as much as 7 percent, but he stresses the importance of making sure the style of the pool matches the house and surrounding property. Be sure that any pool doesn’t completely consume the outdoor space. Pools that make sense locationally and complement the property are the best. If the pool is just an expensive eyesore, it’s probably better to remove it.

With these upgrades, your home will surely see a higher price tag when you go to sell because, as the numbers show, buyers swoon for an outdoor retreat, a like-new kitchen, classic hardwood flooring, and green upgrades.

 

Our guest author is Sarah Stilo, the Content Marketing Coordinator for HomeLight, which helps pair homebuyers with agents. They can be found at HomeLight.Com.


Posted on February 19, 2019 at 8:00 am
Jon Holsten | Posted in Back Patio, Fort Collins Real Estate, Housing Trends, Northern Colorado Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , , , , , , , , , , , , ,

Moving On Up!

Moving is stressful, whether it is across town or cross-country.  Once you have closed on your house, the reality of packing, moving, and setting up a new home can become overwhelming. While no list can make a move “stress-free”, planning ahead and staying organized can help make your move a little smoother.  Here is our list of tips:

Getting started:

· Once you know your prospective move date set up a quick timeline to make sure you can get all the important tasks done and ready in time for your move.

· Consider how much stuff you have by doing a home inventory. This can help you decide whether you need to hire movers to help you or if you will be managing your move on your own. Many moving companies supply inventory lists to help you assess the size of truck you will need.  You can use your list as double duty for insurance purposes later.

· As soon as you decide how you will be moving, make your reservations. In general, moving companies and truck rental services are over-booked at the beginning and very end of the month.  If you are planning on hiring a moving company, contact a few in your area for a price quote. To find companies ask your real estate agent, family, or friends, and consult online reviews.  It is also a good idea to request a quote and compare companies.

Preparing for your move:

· Moving is a great opportunity to get rid of clutter, junk or outdated items. Set aside some time to sort through your closets, storage spaces, files, drawers, and more.  Go through cluttered areas and organize items by “keepers”, “give-aways” and “garbage”. You will have less to pack and an opportunity to update after you move. Contact a local nonprofit organization for your donations; some will arrange to pick up larger donations like furniture. If you have items of value, eBay or Craigslist are good options.

· Changing your address is one of the more tedious tasks in the moving process. You will need to change your address with the United States Post Office. You can find the online form here: https://moversguide.usps.com/icoa/icoa-main-flow.do?execution=e1s1.

· You will also need to change your address with each account you have. Here is a list to get your started:

· Employers

· Bank(s)

· Utilities (Electric, Water/Sewage, Oil/Gas)

· Cable/ Telephone

· Cell phone service

· Credit Cards

· Magazine subscriptions

· Insurance companies (auto, home/renters, health, dental, vision, etc.)

· Pharmacy

· Other personal services

Let the packing begin:

· Before you start packing, it may help to visualize where everything you have will go. Perhaps furniture will fit better in a different room? Consider the floor plan of your new home and figure out what will go where. This will aid in packing and labeling as you box everything up.

· Use a tool like floorplanner.com to plan where furniture and items will go.

· When it comes to packing, you have some options. You can work with a service that provides reusable boxes for moving or you can reuse or purchase cardboard boxes.  Make sure you have enough boxes, packing tape, dark markers, and packing paper.

· Pack rooms according to your floor plan. Label boxes with contents and room. This will make it easier to unpack your home, knowing where everything is going.

· Real Simple magazine has some great tips on packing for your move.

· If you have to disassemble any of your furniture, make sure you keep all the parts and directions together.

· Make sure you set aside your necessities for the day you move. Being tired and unable to take a shower or make your bed can be hard at the end of a long moving day. Here are some ideas of what you may like to pack in your “day-of-move” boxes.

· Clean linens for the beds, pillows and blankets

· Clean towels

· Shower curtain, liner and hooks

· Toiletries, hand soap, tooth brush, etc.

· Disposable utensils, cups, napkins, etc

· Rolls of toilet paper

· Snacks and water

· Change of clothes

· Tools for reassembling furniture, installing hardware, and hanging photos

Making your move

· Come up with a game plan with your family, so everyone has a role and a part to play

· Once the house is empty, do a once over on your old place to make sure it is clean for the next owners/occupants. Here is a useful checklist for cleaning.

Warming your new home

· Once you have settled into your new home, warm it up by inviting friends and family over to celebrate. Here is a great infographic about housewarming traditions and symbolism.

· Announce your move to far-away friends and family through moving announcements to make sure you stay on the holiday card mailing list.

Do you have any other tips or advice for achieving a smooth move?


Posted on February 18, 2019 at 8:00 am
Jon Holsten | Posted in Buying, Fort Collins Real Estate, Homes for Sale, Housing Trends, Northern Colorado Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , , , , ,

Home Inspections Matter So Be Sure to Get Them Right

For many people, a home inspection is a hurdle that has to be overcome during the process of buying or selling a home. But, in fact, it can be a useful tool for buyers, sellers or anyone who plans to get the greatest possible value from their home.

Find out if the house you are selling has “issues”

When you’re selling a house, a pre-sale inspection can be particularly useful. By uncovering any potential problems your house may have, an inspection can give you an opportunity to address them before your first prospective buyer arrives.

In any market, a pre-sale inspection can give your home a competitive edge. Potential buyers are likely to find the kind of detailed information an inspection provides reassuring—and are encouraged to give your home a closer look.

Get to know a house before you buy it

A home is a major investment and, for many people, the greatest financial asset they have. With so much at stake, it makes sense to do what you can to protect your financial interest. Getting an inspection is a smart, simple way to do just that.

When you make a written offer on a home, insist that the offer provide that your contract is contingent on a home inspection conducted by a qualified inspector. You’ll have to pay for the inspection yourself, but an investment of a few hundred dollars could save you thousands of dollars and years of headaches. If you’re satisfied with the results of the inspection and are assured that the home you’re purchasing is in good shape, you can proceed with your transaction, confident that you are making a smart purchase.

When does a home inspection make sense?

In addition to routine maintenance and pre-sale inspections, there are a number of circumstances in which a home inspection could greatly benefit a homeowner. If you are not sure, here are a few simple questions to ask yourself:

· Was your home inspected when you bought it? If not, an inspection would be beneficial even if your home was a new construction at sale.

· Are you an older homeowner who plans to stay in your home?  If so, it makes sense to hire a professional who can inspect difficult-to-reach areas and point out maintenance of safety issues.

· Do you have a baby on the way or small children? An inspection can alert you to any potential safety issues that could possibly affect a growing family, such as mold, lead or structural problems. If mold or lead is present, be sure to rely on technicians or labs with specialized training in dealing with these conditions.

· Are you buying a home that’s under construction? You may want to hire an inspector early on and schedule phased inspections to protect your interest and ensure that the quality of construction meets your expectations.

What doesn’t your home inspection cover?

For a variety of reasons, some homes will require special inspections that are not covered by a typical home inspection. A specialty inspection might include such items as your home’s sewer scope, septic system, geotechnical conditions (for homes perched on steep slopes or where there are concerns regarding soil stability) or underground oil storage tank. If you have any questions about whether or not your home needs a specialty inspection, talk to your real estate agent.

Hire a professional

If you decide to hire a home inspector, be sure they’re licensed in your state. They should be able to provide you with their license number, which you can use to verify their status with the appropriate government agency. It’s also helpful to ask for recommendations from friends and family members. Even among licensed and qualified home inspectors, there can be a difference in knowledge, performance and communication skills, so learn what you can before you hire a home inspector to ensure that you get the detailed inspection that you want.

What to ask your home inspector

Ask the right questions to make sure you are hiring the right professional for the job.

What does your inspection cover?

Insist that you get this information in writing. Then make sure that it’s in compliance with state requirements and includes the items you want to be inspected.

How long have you been in the business?

Ask for referrals, especially with newer inspectors.

Are you experienced in residential inspections?

Residential inspection in a unique discipline with specific challenges, so it’s important to make sure the inspector is experienced in this area.

Do you make repairs or make improvements based on inspection?

Some states and/or professional associations allow the inspector to perform repair work on problems uncovered in an inspection. If you’re considering engaging your inspector to do repairs, be sure to get referrals.

How long will the inspection take?

A typical single-family dwelling takes two to three hours.

How much will it cost?

Costs can vary depending upon a variety of things, such as the square footage, age, and foundation of the house.

What type of report will you provide and when will I get it?

Ask to see samples to make sure you understand his or her reporting style. Also, make sure the timeline works for you.

Can I be there for the inspection?

This could be a valuable learning opportunity. If your inspector refuses, this should raise a red flag.

Are you a member of a professional home inspector association? What other credentials do you hold?

Ask to see their membership ID; it provides some assurance.

Do you keep your skills up to date through continuing education?

An inspector’s interest in continuing education shows a genuine commitment to performing at the highest level. It’s especially important in older homes or homes with unique elements.


Posted on February 15, 2019 at 8:00 am
Jon Holsten | Posted in Buying, Home Maintenance, Homes for Sale, Northern Colorado Real Estate, Selling, Timnath Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , ,

8 Ways to Make the Most of the Home You Have

“Staying Put” by architect and writer Duo Dickinson is not your typical architect’s book about design. There’s no obscure language nor design-for-design’s-sake ideas. It is a practical, down-to-earth guide that walks anyone through the rational process of how to remodel your house to get the home you want, from how to think about your house and overcoming hurdles to a list of “Duo’s Do’s and Don’ts” for the homeowner. Along the way, there’s plenty of nice before-and-after photos to help explain the points. Do read the book. You’ll be glad you did.

Read on for eight of Dickinson’s brightest suggestions:

 

Consider the compass points. The tips and illustrated examples are wonderfully straightforward. For example, we see a house that gets overheated, the siding degrades and the front door bakes in the sun because it all faces south.

Dickinson’s common-sense advice: Rework the front of the house with a new wide porch that shades the front door and some smaller, yet well-sized windows to create a lot more curb appeal while reducing maintenance and energy consumption. It’s a triple win: more beauty and comfort with less cost.

Avoid gutters. Statements such as “gutters and leaders are devout to be avoided” may sound like heresy to many, but certainly are the truth. Proving his point, Dickinson illustrates how a properly-built roof overhang can shed all the water it must without the complications, such as ice dams, caused by gutters.

Embrace small moves. Dickinson provides a wealth of simple solutions illustrated with before-and-after photos. He shows how to use small moves for big dividends, such as taking out a wall between a kitchen and a hallway to make room for more kitchen storage.

Enhance curb appeal. The book offers solutions to common problems with a particular style, such as how to improve and enhance an entrance into a split-level home.

Open up to the outside. Dickinson provides some excellent examples of how we can use modern windows and doors to strengthen the connection between inside and outside. Our homes, says Dickinson, no longer need be “later-day caves.”

Find your home. Learning more about the style of the house you have will help you avoid obstacles in remodeling and recognize the best opportunities for improving your particular home.

Open up the inside. Snippets of advice sprinkled throughout the book are like refreshing raindrops that clear the cobwebs away. One such snippet: “If you walk through a room to get to a room, something is wrong.” You know — it’s when that new great room gets added onto a modest house, and the result is some kind of dyslexic creature that’s really two houses rather than one.

So rather than even building an addition, Dickinson suggests you make the most of what you already have. In this example, widening the opening between rooms strengthens this room’s connection with the rest of the home, increasing its utility and spaciousness.

Work with what you’ve got (before): Keeping the kitchen size the same while vaulting the ceiling dramatically increases the overall spaciousness of the room, as you’ll see in the next photo.

Work with what you’ve got (after): Walls, doors, appliances, and even the skylight and kitchen sink were all left where they were. This all avoided costly plumbing, electrical and mechanical work and rework.

Working with what you’ve got (plans): Dickinson has included before-and-after floor plans for many of the examples. These plans help provide that much more context, allowing the reader to better understand what they may be able to do with the home they already have.

By Bud Dietrich AIA


Posted on February 14, 2019 at 8:00 am
Jon Holsten | Posted in Fort Collins Real Estate, Home Maintenance, Housing Trends, Landscape, Northern Colorado Real Estate | Tagged , , , ,

More Than a Yard: Finding the Right Home for Your Pooch

For many house hunters, a dream home isn’t complete without being a good fit for the family dog. Some might see the fenced in yard, and consider the box checked. However, if you are looking for your next home, you may want to look a little deeper to be sure the fit is right before signing on the dotted line.

It’s worth taking a little extra time to consider your pooch in a little more depth. Here is a quick checklist of considerations to be sure you find the right fit for your canine companion:

 

What’s in a Yard?

 

A fenced yard is, of course, ideal for many dog owners. It gives you the ability for off-leash play, a must for meeting the exercise needs of active breeds such as Border Collies or Labradors. But not all yards are the same. Here’s a quick checklist of what to look for:

  • Check the fencing to be sure it is secure. Factor in any repair costs into the cost of the home since they will need to be addressed right away.
  • Are there flower beds with potentially toxic plants that will need to be moved outside of the fenced area? Examples include many spring bulb favorites such as daffodils, tulips, and crocus, as well as some bushes such as azaleas.
  • Is there a nice shady spot so your pooch can find shelter from the heat on a hot summer day?
  • Is there access to water for an outdoor bath?
  • Will delivery people be able to access your main entrance when the dog is outside without entering the fenced part of your yard? It is easy to overlook, but this can become a major annoyance if you do a lot of online shopping.

 

Indoor Space Considerations

 

It won’t always be a beautiful sunny day, even in your dream home. Make sure your new home will have enough space for a little indoor play on rainy days and during colder winter months. A long hallway can make a great runway for a game of fetch when getting outside just isn’t practical.

Likewise, consider the needs of aging or injured dogs. Does the layout of the home require going up and down stairs to get to the most used areas of the home? This can be a major problem for some special needs dogs, and a deal breaker for some pet owners.

Finally, most dog trainers recommend that every dog has a little space to call their own during times of stress. This may be as simple as a corner of the living room with a comfy dog bed or crate. If you have a puppy, however, a space that can be puppy-proofed and cordoned off (with appropriate flooring for potential accidents during potty training) is in order.

 

Go for a Walk

 

It may be impractical to include a dog walk for every home you look at while searching for your dream house. However, once you are down to a short list, it is time to actually take your dog on what is likely to be the daily walk route. Make sure this is a walk you would feel comfortable making every day, or even letting the kids take.

Be on the lookout for hazards: A dangerous intersection, a portion of the walk that requires walking in the road, or a neighbor who lets their dog run right up to the curb with invisible fencing (a recipe for territorial fights with leashed dogs passing by). A drive through is unlikely to reveal these walk spoiling annoyances. In addition, look for evidence of good lighting for evening or early morning walks.

 

Nearby Canine Amenities

 

If you are moving to a new part of town or relocating to a new state altogether, it is worth doing some research to find out where the pet services are located. Depending on the services you tend to use, it can make a big difference in your quality of life to be able to take advantage of nearby conveniences.

Think about what services you are likely to use most, and check on Google Maps to locate:

  • Veterinarians
  • Dog boutiques (particularly important if you buy specialty food)
  • Grooming services
  • Doggy daycare and boarding
  • Pet sitting and dog walking services
  • Dog-friendly restaurants (BringFido.comis a great research tool for this)
  • Dog parks and dog-friendly paths for long walks

 

Flooring

 

Although luxurious hardwood flooring adds a great deal of ambiance to a home, it will have the opposite effect if it gets scratched up from the nails of a rambunctious canine. Large and even medium sized dogs can easily create unsightly scars in hardwood floors that can only be fixed by a professional who will need to sand away the wood then stain and refinish it. It’s a costly fix!

Modern carpets can generally hold up to doggy traffic. However, think about where you will be coming in and out of the house with your pooch to be sure you have a place to wipe muddy paws first on rainy days. A mudroom or garage entrance can easily stow a few extra towels for the job.

Tile and high-quality laminate flooring are the most durable as both will resist scratching and are easy to clean.

 

Consider Pet-Friendly Condos and Planned Communities

 

If you have a truly pampered pooch, one way to go the extra mile is to ask your realtor about dog-friendly communities in your area. Many condominium complexes, for example, have pet services right on site. Pet grooming, pet-sitting, dog walking services, and even a fenced in dog park and/or pool is available in some areas.

Work with a Knowledgeable Realtor

 

Make sure to let your agent know upfront that you have a canine member of your family to consider during the house hunt. If there are certain “musts” such as a fenced yard, or proximity to veterinary services, be sure to put that on the table upfront to help your realtor find a home that works for you and your furry friend.

 

Sharon is the lead author at wileypup.com. She received her M.S. in Science & Technology Studies from Virginia Tech and has worked as a professional dog trainer for over 10 years.


Posted on February 13, 2019 at 6:42 pm
Jon Holsten | Posted in Fort Collins Real Estate, Homes for Sale, Landscape, Windermere Real Estate | Tagged , , , , , , , , , ,

Housing Supply is an Issue that Will Not Improve Any Time Soon and Here’s Why

There are two common concerns about the housing market that one hears from both consumers and real estate professionals alike. First, they question whether or not we are on the brink of another housing bubble, and second, they want to know why there aren’t more homes for sale.

I don’t plan on addressing the concern regarding a housing bubble in this article except to say that we are not currently in “bubble” territory, although affordability does concern me immensely. Today I would like to concentrate on the second question about the lack of homes for sale.

According to the National Association of REALTORS®, there were 1.96 million homes for sale in the United States in May 2017. When adjusted for seasonality, this falls to just below 1.9 million which is essentially the same level we saw back in 2000.

Now consider that the country has added over 21 million new households during that same time period, and you can see why this is so troubling. It is worth noting that many of these new households did move into rental properties, but this still leaves the U.S. with a substantial housing shortfall, which explains why demand for homes is so high.

With the shortage of homes for sale, you would normally expect builders to meet this pent-up demand with new construction housing but, unfortunately, this has not been the case. In fact, new single-family housing starts are running at about 800,000 (annualized), and I believe we need starts to come in at over 1 million to satisfy demand – especially as older Millennials start to create households of their own and begin thinking about buying instead of renting.

We therefore have a quandary. Trust in the housing market has clearly returned, but there are not enough homes to meet the demand of buyers, and when a buyer does find a home, they are met with very stiff competition, which is driving prices increasingly higher.

So why are we in this position and how do we get out of it?

In reality, there is no single reason for the situation we are in today. Rather it is a number of factors that, when combined, suggest to me that the market will not return to equilibrium any time soon.

The first reason for the shortfall is purely demographic. As “Boomers” age, they are not following the trends of previous generations. Many are staying in the workforce far longer than their predecessors, and, as they are postponing retirement, they do not feel compelled to downsize. In fact, almost two-thirds of Boomers plan to age in place and not move even after retirement. Without this anticipated supply of homes from downsizing Boomers, there aren’t enough homes for move-up buyers, which in turn limits the supply of homes for first-time buyers.

Secondly, as a nation we just aren’t moving as often as we used to. When I analyze mobility, it is clear that people no longer have to relocate as frequently to find a job that matches their skill set. There has been a tangible drop in geographic specificity of occupations. Where we used to move to find work, this is no longer as prevalent, which means we are moving with less frequency.

Thirdly, as mentioned earlier, builders aren’t building as many homes as they could. This is essentially due to three factors: land supply/regulation, labor, and materials. The costs related to building a home have risen rapidly since the Great Recession, and this is holding many builders back from building to their potential. Furthermore, in order to justify the additional costs, many of the homes that are being built are larger and more expensive, and this is no help for the first-time buyer who simply can’t afford a new construction price tag.

Fourthly, while the general consensus is that home prices have recovered from the major correction that was seen following the recession, this is actually not the case in some markets. In fact, there are 32 U.S. metro areas where home prices are still more than 15 percent below the pre-recession peak. As equity levels remain low, or non-existent, in these markets, many would-be sellers are waiting until they have sufficient equity in their homes before putting them on the market.

And there is still one more issue that is certain to become a major factor over the next few years: interest rates.

Imagine, if you will, the country a few years from now when interest rates have normalized to levels somewhere around 6 percent. Now consider potential home sellers who are happily locked in at a mortgage rate of about 4 percent who are considering their options. Will they sell and lose the historically low rate that they currently have? Remember that for every 1 percent increase in rates, buyers can afford 10 percent less house. If they don’t HAVE to sell, their thoughts may lead to remodeling rather than moving. I think that this is a very reasonable hypothesis which could lead us to see low inventory levels for a lot longer than many think.

With little assistance from the new home market, I believe we will suffer from low inventory levels until well into 2018.

Our best hope for a more balanced market lies with builders, so hopefully they’ll be allowed to do what they do best – build more homes.


Posted on February 12, 2019 at 7:55 pm
Jon Holsten | Posted in Fort Collins Real Estate, Homes for Sale, Housing Trends, Windermere Real Estate | Tagged , , , , , , , , , , , , ,

Beautiful Move In Ready Condo!

Immaculate 1 bedroom condo at 5151 West 29th Street in Greeley’s popular T-Bone Ranch community! This home features a main level entry with attached 1 car garage access. All living space is on the 2nd floor and boasts a large kitchen with new countertops and plenty of storage. High vaulted ceilings, gas fireplace, and upgraded lighting. HOA fee includes water, trash, swimming pool and clubhouse. This beautiful home is a great value…and move-in ready! Call for your private showing at (970) 237-2752 for more information or click the link below for more details.

http://windermerenoco.com/listing/91376430


Posted on February 11, 2019 at 10:49 pm
Jon Holsten | Posted in Greeley Real Estate, Virtual Tours | Tagged , , , , , , , , , , , , , ,

The Ultimate Guide to Buying and Selling Homes

I am so excited to announce that I had the opportunity to co-author a new book called “The Ultimate Guide to Buying and Selling Homes.” The eBook edition has just been published and there is a special launch price of only $0.99. You can get the book at https://www.Amazon.com/dp/B07N8BXWB3. The paperback edition is coming soon!

The Ultimate Guide to Buying and Selling Homes: Insights from America's Top Agents by [Worters, David, Deck, Mike, Bauscher, Matt, Fuqua, Cheryl, Fuqua, Brad, Noble, Michelle, George, Paul, Oyler, Scott, Marlatt, Tonya, Holsten, Jon, Kim Ziton]


Posted on February 7, 2019 at 5:59 pm
Jon Holsten | Posted in ebook, Homes for Sale, Housing Trends | Tagged , , , , , , , , , , , ,