Most Active

 

What is the most active price range in Northern Colorado?  Take a guess…

  • $300,000 to $400,000
  • $400,000 to $500,000
  • $500,000 to $750,000
  • $750,000 and above

By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and above.

However, this lower price range does not have the most inventory.  The price range with the greatest selection of homes is $500,000 to $750,000.

Posted on October 25, 2019 at 3:29 pm
Jon Holsten | Category: Buying, Housing Trends, Northern Colorado Real Estate, Selling, Windermere Real Estate | Tagged , , , , , , , , ,

Big Bounce

Seventy-five major metro markets have seen home prices bounce back to above their pre-recession peaks.

Metro Denver has seen the biggest bounce with home values 91% above its previous high in 2007 , according to the Home Price Recovery Index from HSH.com.

“Aside from routinely strong home price appreciation, it’s important to know that the Denver metro’s housing ‘bust’ in 2008 was relatively short and shallow,” said Keith Gumbinger, the report’s author.

The peak-to-trough for home values was only three years long and the total decline in value was just under 8 percent in Metro Denver, he said.

By contrast, a half-dozen large metros have seen home prices more than double from their lows and still not reach the old highs. On that list are Las Vegas, Sacramento, California, and Cape Coral, Florida.

Posted on October 18, 2019 at 8:00 am
Jon Holsten | Category: Buying, Housing Trends, Northern Colorado Real Estate, Selling, Windermere Real Estate | Tagged , , , , , , , , , , , , , , , ,

The Impact of Staging Your Home

For more than 20 years, the benefits of staging a home have been well documented. Numerous studies show that staging helps sell a home faster and for a higher price. According to the National Association of REALTORS®, 88 percent of home buyers start their search online, forming impressions within three seconds of viewing a listing. When a home is well staged, it photographs well and makes the kind of the first impression that encourages buyers to take the next step.

Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, but it also helps them begin to imagine living there. Homes that are professionally staged look more “move-in ready” and that makes them far more appealing to potential buyers.

According to the Village Voice, staged homes sell in one-third less time than non-staged homes. Staged homes can also command higher prices than non-staged homes. Data compiled by the U.S. Department of Housing and Urban Development indicate that staged homes sell for approximately 17 percent more than non-staged homes.

A measurable difference in time and money

In a study conducted by the Real Estate Staging Association in 2007, a group of vacant homes that had remained unsold for an average of 131 days were taken off the market, staged, and relisted. The newly staged properties sold, on average, in just 42 days, – which is approximately 68 percent less time on the market.

The study was repeated in 2011, in a more challenging market, and the numbers were even more dramatic. Vacant homes that were previously on the market for an average of 156 days as unstaged properties, when listed again as staged properties, sold after an average of 42 days—an average of 73 percent less time on the market.

Small investments, big potential returns

Staging is a powerful advantage when selling your home, but that’s not the only reason to do it. Staging uncovers problems that need to be addressed, repairs that need to be made, and upgrades that should be undertaken. For a relatively small investment of time and money, you can reap big returns. Staged properties are more inviting, and that inspires the kind of peace-of-mind that gets buyers to sign on the dotted line. In the age of social media, a well-staged home is a home that stands out, gets shared, and sticks in people’s minds.

What’s more, the investment in staging can bring a higher price. According to the National Association of REALTORS, the average staging investment is between one percent and three percent of the home’s asking price, and typically generates a return of eight to ten percent.

In short, less time on the market and higher selling prices make the small cost of staging your home a wise investment.

Interested in learning more? Contact your real estate agent for information about the value of staging and referrals for professional home stagers.

Posted on October 17, 2019 at 8:00 am
Jon Holsten | Category: Selling, Windermere Real Estate | Tagged , , , , , , , , , , , ,

10 Tips to Minimize Stress When Selling Your Home

 

When I was growing up, my family must have moved a dozen times. After the first few moves, we had it down to a science: timed out, scheduled, down to the last box. Despite our best efforts, plans would change, move-out and move-in days would shift, and the experience would stress the entire family out. Despite the stress, we always managed to settle in our new home and sell our old one before the start of school.

 

With a lot of planning and scheduling, you can minimize the stress of selling your house and moving. Here are some tips:

Plan Ahead

Know when you want to be moved out and into your new home and have a backup plan in case it falls through. Before you sell your home, familiarize yourself with local and state laws about selling a home so you’re not caught by surprise if you forget something important.

Lists and schedules are going to be your new best friend through the process. Have a timetable for when you want to sell your house when you have appraisers, realtors, movers, etc. over. Also, keep one for when your things need to be packed and when you need to be moved into the new place. I suggest keeping it on an Excel sheet so you can easily update it as the timeline changes (and it will – stuff happens).

Use Resources

First time selling a house? Check out some great resources on what you need to know. US News has excellent, step-by-step guides on what you need to know to sell. Appraisers and realtors can also be good resources, and since you’ll be working with them through the process, be sure to ask them questions or have them point you to resources.

Appraisal

Have your house appraised before you sell so you know your budget for your new home. This will help you look for an affordable home that meets your family’s needs. It will also help you maximize the amount you can receive for your old home. You can also learn useful information from an appraisal, such as which repairs need to be made, if any.

Repairs

Does your house need repairs before you move? If so, figure out whether you’ll be covering them, or whether your buyers will (this will be a part of price negotiations, so factor it in with your home budget). Will you need to make repairs in your new house, or will that be covered? Either way, make sure you know which repairs need to be made – and either be upfront with buyers about them or make them before you sell.

Prepare to Move

If you’re moving to a new town or a new state, you need to prepare more than just a new home. Research doctors and dentists, places to eat, and what to do for fun. If you have school-aged children, look at the local school district or private school options – not only to learn how to enroll your kids, but also to get a feel for the school culture, see what extracurricular activities your kids can do, what standards/learning methods your kids’ new school will implement, etc.

Packing

Think: how soon are you moving, what will you need to use before you move, what can get boxed and what needs to stay out?  The sooner you’re moving out, the sooner you need to pack, but if you have time, just take a day per weekend to organize a room, pack what you want to take and arrange to donate what you want to get rid of.

Downsizing

Moves are a great time to purge old, unwanted and unused stuff from your home. Sometimes, it’s necessary if you’re moving into a smaller space. Either way, as you pack each room, think about whether you use what you’re packing to take with you. If you do, pack it to go. If not, put it in a separate box to go to your local donations place. You can also call some organizations to have your unwanted things picked up, no hassle.

If You Have Kids

Moving with kids can be extra stressful. Be sure to include them in the process. This is a wonderful opportunity to teach younger children about moving and prepare them for the changes it brings. Older children can help out with responsibilities, like packing their room or researching their new town.

Your New Place

Moving into a new place takes some planning as well. Once you’ve bought your new home or condo, design at least a basic outline for where your stuff will be set up. Make necessary repairs and decorate (painting, for example) before you unpack. Ideally, you should have some time to do these things before, but if you don’t, don’t be in a hurry to unpack everything – it can be a hassle to paint if you have all your furniture and bookshelves up!

Staying In Touch and Making New Friends

Finally, moving can mean good-byes with family and/or friends. Social media is a great way to keep in touch with people after you’ve moved, but distance can still weaken these old relationships. Make some time to call or message your old friends to keep in touch. Pair that work with a concerted effort to meet new people. See what hobbies or groups are in your new area and start there. It doesn’t seem like a lot, but it can make your new house a home and make your new town a community you can enjoy.

Posted on October 16, 2019 at 8:00 am
Jon Holsten | Category: Living, Selling, Windermere Real Estate | Tagged , , , , , , , , , , , , ,

Reduced

Some fascinating research from the Denver Metro Association of Realtors…

37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period.

Property owners who have to reduce their price take an average of 58 days to receive an offer.

Those who don’t have to reduce their price only take 13 days.

This stat obviously speaks to the importance of pricing your property right on day one.

Posted on October 11, 2019 at 8:00 am
Jon Holsten | Category: Buying, Fort Collins Real Estate, Homes for Sale, Housing Trends, Loveland Real Estate, Northern Colorado Real Estate, Selling, Timnath Real Estate, Wellington Real Estate, Windermere Real Estate, Windsor Real Estate | Tagged , , , , , , , ,

Mistakes to Avoid When Buying and Selling a Home

 

 

There’s nothing more exciting, rewarding, and fulfilling than buying a home. However, it’s a complex transaction; there are a number of steps along the path that can confuse, betwixt, and befuddle even the most seasoned buyers and sellers.

How can you avoid those potential pitfalls and common mistakes? Look to your real estate professional for advice and keep these guidelines in mind:

 

BUYERS:

 

#1 Review your credit reports ahead of time

Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct and be able to dispute mistakes before a mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.

 

#2 Get pre-approved

Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.

 

#3 Know what you want

You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and really-wants.

 

#4 Account for hidden costs

In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:

  • Get estimates for any repairs or remodeling it may need.
  • Estimate how much it will cost to maintain (gas, electric, utilities, etc.).
  • Determine how much you’ll pay in taxes monthly and/or annually.
  • Learn whether there are any homeowner’s or development dues associated with the property.

 

#5 Get an inspection

Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage or faulty systems.

 

#6 Evaluate the neighborhood and location

When house hunting, it’s easy to become overly focused on the number of bedrooms and bathrooms, the condition of the home and its amenities while overlooking the subtleties of the surrounding neighborhood. Take time to check crime reports, school options, churches and shopping. If schools are a key factor, do more than simply research the statistics; speak with the principal(s) and chat with the parents waiting outside.

 

 

SELLERS:

 

#1 Avoid becoming emotional or sentimental about the sale

Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to successfully price, prepare, and market the home.

 

#2 Fix problems (or price accordingly)

Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale-cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.

 

#3 Don’t overprice your home (and/or refuse to negotiate)

Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area, and trust those results.

 

#4 Use quality photos

The vast majority of prospective buyers today search for homes online first. In order to make a good first impression, you need a wealth of high-quality photos of your home and surrounding grounds. You may also need to consider professional staging in order to position your home in the best possible light for prospective buyers.

 

 

The process of buying or selling a home can have plenty of twists and turns, but with some smart decision making, you can avoid the most common mistakes and pitfalls.

 

Click here if you would like to connect with an experienced real estate agent.

Posted on September 19, 2019 at 12:24 pm
Fort Collins | Posted in Buyers & Sellers | Tagged 
Posted on October 5, 2019 at 8:00 am
Jon Holsten | Category: Buying, Living, Northern Colorado Real Estate, Selling, Windermere Real Estate | Tagged , , , , , , , , , , , , , , ,

1 Million +

We have our pulse on the high-end luxury market.

The activity in price ranges over $1,000,000 is an effective indicator of the health of the overall market.

If buyers for luxury properties are active, it tells us that “smart money” is confident about real estate in Northern Colorado.

So far this year, 107 luxury properties have sold in Larimer and Weld Counties. Last year at this time 93 had sold and in 2017 it was only 56.

It seems “smart money” is confident.

If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.

Posted on September 20, 2019 at 9:13 am
Fort Collins | Posted in Luxury Real EstateMarket News | Tagged 
Posted on October 3, 2019 at 8:00 am
Jon Holsten | Category: Buying, Fort Collins Real Estate, Housing Trends, Loveland Real Estate, Northern Colorado Real Estate, Selling, Timnath Real Estate, Windermere Real Estate | Tagged , , , , , , ,

Rate Bounce

Rates hit near-historic lows this week and are now at 3.49% for a 30-year mortgage.

There have only been two other times in history when rates have been this low- April 2013 and October 2016.

It’s interesting to see what happened soon after bottoming out these last two times.

In April of 2013 rates hit 3.41%. By August 2013 they had jumped to 4.40%.

Rates bottomed again in October 2016 at 3.42%. Just two months later in December 2016 they were 4.32%.

Each time the increase was nearly 1% within just a few months.

So, if history proves itself as a guide, we can’t expect these rates to last for long.

Posted on September 13, 2019 at 5:05 pm
Jon Holsten | Category: Buying, Housing Trends, Selling, Windermere Real Estate | Tagged , , , , , , , , , , ,

The Slow Down in Foreign Buyers

The United States housing market is experiencing a significant reduction in foreign buyers. Windermere Chief Economist, Matthew Gardner, cites several factors that could be contributing to this trend and offers his opinions as to what to expect in this recent Market Update.

Posted on September 6, 2019 at 8:00 am
Jon Holsten | Category: Buying, Housing Trends, Selling, Windermere Real Estate | Tagged , , , , , , ,

Case-Shiller

The Case-Shiller Home Price Index is a well-known report in the real estate industry and a valuable way to gauge what is happening in various markets across the Nation.

The report tracks home price appreciation in the 20 largest markets in the country.

Their most recent report shows that, Nation-wide, home prices are up 2.1% year-over-year.

Last year prices were rising at 6.3%.  So, prices are still going up but not as fast as they were.

The city with the highest appreciation over the last 12 months is Phoenix with 5.8% growth followed closely by Las Vegas at 5.5%.

Denver came in at 3.4% which makes it tied for 8th place out of the 20 cities.

Posted on September 5, 2019 at 2:26 pm
Jon Holsten | Category: Buying, Housing Trends, Selling | Tagged , , , , , , , , , , , ,