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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 home products have increased drastically, while homes have become much tighter and better insulated. As a result, the EPA estimates that Americans, on average, spend approximately 90 percent of their time indoors, where the concentrations of some pollutants are often two to five times higher than typical outdoor concentrations. 

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. Mold is a VOC that can build up in the dampest parts of your home like the laundry room or crawl spaces. Another example is the “new car smell” that seems to dissipate after a while, but VOCs can “off-gas” for a long time, even after a noticeable smell is gone. 

Many materials used to build a home contain chemicals like formaldehyde, toluene, xylene, ethanol, and acetone, and even lead. VOCs can also be in the form of pet dander or dust. Fortunately, VOCs from building materials dissipate over 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 

Choose your building materials wisely  

• – Use tile or solid wood for flooring—hardwood, bamboo, or cork
• – 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  

• – Make sure your rooms have adequate ventilation, air out newly renovated areas for at least a week 
• – Clean ductwork and furnace filters regularly 
• – Install air cleaners if needed 
• – Use only environmentally responsible cleaning chemicals 
• – Plants are a natural solution to help clean the air 
• – Air out freshly dry-cleaned clothes or choose a “green” cleaner 

Pick the right carpet 

• – 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 or wall coverings
• – 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 
• – Keep humidity below 60 percent, using dehumidifiers if necessary 
• – Refrain from carpeting rooms that stay damp 
• – Insulate pipes, crawl spaces, and windows to eliminate condensation 
• – Use one-half cup of bleach per gallon of water to kill mold in its early stages 

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

Whether you’re a first-time homebuyer or you currently own and are looking for a new home, the ideas below will help you better navigate that all-important first step: Finding a property that is both appealing and affordable.

The search for a new home always starts out with a lot of excitement. But if you haven’t prepared, frustration can soon set in, especially in a competitive real estate market. The biggest mistake is jumping into a search unfocused, just hoping to “see what’s available.” Instead, we recommend you first take some time to work through the four steps below.

Step 1: Talk to your agent

Even if you’re just thinking about buying or selling a house, start by consulting your real estate agent. An agent can give you an up-to-the-minute summary of the current real estate market, as well as mortgage industry trends. They can also put you in touch with all the best resources and educate you about the next steps, plus much more. If you are interested in finding an experienced agent in your area, we can connect you here.

Step 2: Decide how much home you can afford

It may sound like a drag to start your home search with a boring financial review, but when all is said and done, you’ll be glad you did. With so many people competing to buy what is available, it’s far more efficient to focus your search on the properties you can afford. A meeting or two with a reputable mortgage agent should tell you everything you need to know.

Step 3: Envision your future

Typically, it takes at least five years for a home purchase to start paying off financially—which means—the better your new home suits you, the longer you’ll most likely remain living there.

Thinking of your near future, what life events do you anticipate in the next five or six years? If you’re planning to add to the family or change careers, or even rent out a portion of your home to others, share this information with your real estate agent. They will be able to help you evaluate your current and future needs to help find the best home that you can grow into.

Step 4: Visualize your ideal home

When it comes to this step, be realistic. It’s easy to get carried away dreaming about all the home features you want. Try listing everything on a piece of paper, then choose the five “must-haves,” and the five “really-wants.”

For more tips, as well as advice geared specifically to your situation, connect with an experienced Windermere Real Estate agent by clicking here.

There is an abundance of great news when it comes to employment in Colorado.

The unemployment rate is incredibly low at 2.7% which is almost a full percentage point lower than the U.S. average.

According to the Bureau of Labor Statistics, Metro Denver added 28,300 jobs over the last year which ranks 15th out of all metropolitan areas nation-wide, many of which have much larger populations than Denver.

While this is positive news, what is even more remarkable is what is happening in the other, smaller cities along the Front Range.

Anytime job growth exceeds 2.0% per year, it is a sign of a very healthy economy.

Here is what the other Cities have seen in terms of job growth over the last 12 months.

• Fort Collins 2.6%

• Greeley 2.5

• Colorado Springs 1.9%

This is a Tale of Two Counties.

When it comes to new home activity, there is a big difference between Larimer and Weld Counties.

Larimer County’s new home starts are down 10% and new home closings are down 15% compared to last year.

Weld County’s new home starts are up 18% and new home closings are up 8% compared to last year.

This is all according to the new home research experts and Metrostudy.

So why the difference?  It comes down to price and availability.

There is more land available for new home development in Weld County.

Plus, the land tends to be less-expensive than Larimer which means that builders can deliver a lower-priced product and reach a larger pool of buyers.

The average price of a new home in Larimer County is $507,105 while the average new home price in Weld is $411,269.

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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.

Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.

Here are the specific numbers behind this…

The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.

That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.

For sellers who have homes on the market today, it is time to ensure that:

• The home is priced right versus the competition
• All of the marketing elements are in place
• It is easy for a buyer to make an offer on the home

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

Colorado’s economy continues to grow with the addition of 45,900 new non-agricultural jobs over the past 12 months, which represents a growth rate of 1.7%. As I have stated in the last two Gardner Reports, we continue to see a modest slowdown in employment gains, but that is to be expected at this stage of the business cycle.

In May, the state unemployment rate was 3.2%, up from 3.1% a year ago. The increase in the rate is essentially due to labor force growth, which rose by over 55,700 people over the past year. On a seasonally adjusted basis, unemployment rates in all the markets contained in this report were lower than a year ago and are at full employment.

HOME SALES

• In the second quarter of 2019, 17,853 homes sold. This is a drop of 1% compared to the second quarter of 2018 but a substantial 59.9% higher than the first quarter of this year. Pending sales — a sign of future closings — rose 5.8%, suggesting that closings in the third quarter are likely to show further improvement.
• Half of the counties contained in this report saw sales growth, while the other half had fewer closings. Sales in the small Clear Creek County fell precipitously. However, it was only a drop of 20 sales.
• The marginal drop in the number of sales compared to a year ago can be attributed to the ongoing increase in listing activity (+34.8%), which continues to give would-be home buyers more choice and less urgency.
• Inventory levels continue to rise, but demand for housing appears to be ongoing. I am not concerned by the marginal year-over-year slowdown and anticipate that sales will rise again in the third quarter.

HOME PRICES

• Home prices continue to trend higher, but the rate of growth has taken a pause, with the average home price in the region rising by just 2.3% year-over-year to $490,575.
• The drop in interest rates this year has nudged more buyers off the fence and this can allow further price growth as we move through the year.
• Appreciation was again strongest in Park County, where prices rose 6.1%. We also saw strong growth in Weld County, which rose by 6.1%. Home prices dropped in Clear Creek, Boulder, and Gilpin counties, but I do not see this as being indicative of a trend in these markets.
• Affordability continues to be an issue in many Colorado markets and this may act as a modest headwind to ongoing price growth. However, some of the slowing may be offset by very favorable mortgage rates.

DAYS ON MARKET

• The average number of days it took to sell a home in the markets contained in this report rose four days over the second quarter of 2018.
• The amount of time it took to sell a home rose in all counties except Gilpin when compared to the second quarter of 2018.
• It took an average of 29 days to sell a home in the region — a drop of 13 days compared to the first quarter of this year.
• It is likely that the drop in time-on-market was a function of the emerging spring selling season as well as falling mortgage rates.

CONCLUSIONS

This 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 second quarter of 2019, I continue the trend I started last summer and have moved the needle a little more in favor of buyers. I continue to closely monitor listing activity to see if we get any major bumps above the traditional increase because that may further slow home price growth. However, the trend for 2019 will continue to be a move toward a more balanced market.

ABOUT MATTHEW GARDNER

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 Governors 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.

The projections show that it will only get more popular in the future.

Today, 4.8 million people live along the Front Range from Fort Collins down to Pueblo.

In 2030, just 11 short years from now, 5.7 million people will live here. Yes, that’s almost 1 million more than today.

This is all according to the Colorado State Demographers Office.

While this seems like a big increase, keep in mind that this assumes that population growth occurs at a fairly modest 1.7% per year.

It seems that our state will continue to grow and there will continue to be a demand for housing.