BlogEconomyFor BuyersFor SellersFun FactsHousing TrendsMarket News January 19, 2021

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Where are interest rates headed?

This question was one of many which were addressed during our annual Market Forecast yesterday.

Our Chief Economist, Matthew Gardner, provided insight on rates, prices, inventory and many other fascinating topics.

Matthew’s prediction is for rates to creep up to 3.07% by the end of 2021.  They are currently at 2.79%.

The image below shows how his prediction compares with predictions of his economist colleagues.

If you would like a recording of the presentation, simply reach out to your Windermere Broker.

Graph

BlogFun FactsWindsor Real Estate September 25, 2020

6 Million

Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.

The 6 million threshold is a big deal in the real estate brokerage world.

Each month, as they have for a long time, the National Association of Realtors tracks the sales and then calculates the annualized rate of residential closings.

For many, many years this number has bounced around 5.5 million.  The fact that it just jumped to 6 million speaks to many factors especially the effect of today’s interest rates.

running

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

BlogFun FactsWindermere Real Estate September 24, 2020

6 Million

Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.

The 6 million threshold is a big deal in the real estate brokerage world.

Each month, as they have for a long time, the National Association of Realtors tracks the sales and then calculates the annualized rate of residential closings.

For many, many years this number has bounced around 5.5 million.  The fact that it just jumped to 6 million speaks to many factors especially the effect of today’s interest rates.

running

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Buyers & SellersColorado Housing September 14, 2020

Empty Nesters: Remodel or Sell?

Empty Nesters

Your kids have moved out and now you’re living in a big house with way more space than you need. You have two choices – remodel your existing home or move. Here are some things to consider about each option.

Choice No. 1: Remodel your existing home to better fit your current needs.

  • Remodeling gives you lots of options, but some choices can reduce the value of your home. You can combine two bedrooms into a master suite or change another bedroom into a spa area. But reducing the number of bedrooms can dramatically decrease the value of your house when you go to sell, making it much less desirable to a typical buyer with a family.
  • The ROI on remodeling is generally poor. You should remodel because it’s something that makes your home more appealing for you, not because you want to increase the value of your home. According to a recent study, on average you’ll recoup just 64 percent of a remodeling project’s investment when you go to sell.
  • Remodeling is stressful. Living in a construction zone is no fun, and an extensive remodel may mean that you have to move out of your home for a while. Staying on budget is also challenging. Remodels often end up taking much more time and much more money than homeowners expect.

Choice No. 2: Sell your existing home and buy your empty nest dream home.

  • You can downsize to a single-level residence and upsize your lifestyle. Many people planning for their later years prefer a home that is all on one level and has less square footage. But downsizing doesn’t mean scrimping. You may be able to funnel the proceeds of the sale of your existing home into a great view or high-end amenities.
  • A “lock-and-leave” home offers more freedom. As your time becomes more flexible, you may want to travel more. Or maybe you’d like to spend winters in a sunnier climate. You may want to trade your existing home for the security and low maintenance of condominium living.
  • There has never been a better time to sell. Our area is one of the top in the country for sellers to get the greatest return on investment. Real estate is cyclical, so the current boom is bound to moderate at some point. If you’re thinking about selling, take advantage of this strong seller’s market and do it now.

Bottom Line

If your current home no longer works for you, consider looking at homes that would meet your lifestyle needs before taking on the cost and hassle of remodeling. Get in touch with a Windermere Real Estate broker to discuss the best option for you.

BlogFun FactsWindsor Real Estate September 7, 2020

At Least List

 

It answers this question – how many properties are selling for at least list price (asking price or higher)?

 

This stat tells us how active the market is and helps our buyers to realize that, in some cases, they will be in a competitive situation.

 

When we look at single-family home sales so far this month, this is what we find:

  • 57% of properties in Larimer County sell for at least list price
  • 62% of properties in Weld County sell for at least list price

So, in well over half of the transactions, buyers need to offer list price or higher to acquire the property.

 

The data gets even more interesting when this information is broken out by price range.

 

To no one’s surprise, the percentage increases for properties priced under $400,000:

  • 81% in Larimer County
  • 70% in Weld County

We find that for properties over $400,000 the percentages still tell a story of a very active market:

  • 47% in Larimer County
  • 56% in Weld County

Bottom line, in most locations and price ranges we see a strong sellers’ market where buyers need to be prepared to make a strong offer and to also compete.

tug of war

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.

Fun FactsMarket NewsWindermere Real Estate March 20, 2020

Economist’s Perspective

BlogFor BuyersFun Facts November 8, 2019

All Time High

 

Home Builder’s confidence in Baby Boomer buyers is at an all time high.

The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.

The builders base a large part of their answer on how many people are visiting their sales centers and model homes versus the same time last year.

The results in their most recent survey show that builders have never been more confident about buyers who are 55 and older.

The confidence index for this age group is actually double of what it was in 2012.  The NAHB sites low interest rates and strong job growth as the reasons for the high confidence.

Appreciation RateBlogFun FactsMarket News August 30, 2019

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.

BlogFor BuyersFor SellersFun Facts August 2, 2019

What We Notice

Here are some observations we have about the market right now:

  • Inventory is up, price reductions are up, the length of time to sell a home is up
  • Seller concessions are more prevalent
  • Sellers are more willing to accept contingent offers (especially in higher price ranges)
  • If a home doesn’t sell within a week, it often becomes stigmatized by the market and potential buyers assume there must be something wrong with it
  • Homes that likely would have sold within hours a year ago, are now sitting on the market
  • Condition is super-important as buyers become even more picky
  • Pricing a property correctly on day one is paramount
  • Sellers who over-price their property are finding themselves chasing the market
BlogFun Facts July 12, 2019

Sign Suprise

Given how active our market is today and has been over the last few years, many people assume that virtually every home with a “For Sale” sign in the front yard is already under contract.

 

They are surprised to learn that, in most cases, the “For Sale” sign does indeed represent a home that is actively for sale.

 

For example, today in Fort Collins there are 655 single-family homes on the market. 290 of these are under contract and will be closing soon. 365 of these are still active. So, 56% of the signs in Fort Collins are in front of homes that are still available.

 


Here are the specific numbers for each of our Northern Colorado markets:
• Fort Collins = 56%
• Loveland = 57%
• Windsor = 58%
• Greeley = 41%