BlogFor BuyersFor SellersFun FactsInventory March 1, 2024

Leap Year

The statistic that is leaping so far in 2024 is inventory.

Northern Colorado is seeing a big uptick in number of homes for sale.

However, it is not an alarming amount and is still a ‘Seller’s Market’ by definition.

Larimer County inventory is up 39% and Weld County is up 48%.

Months of inventory is up to 2.3 in Larimer County from 1.7 months a year ago.

Weld County is also at 2.3 months today and was only 1.2 months a year ago.

With higher inventory comes more selection for buyers and more importance for sellers to price right.

BlogFun FactsMarket News October 14, 2022

Halfway Check

This is a market which is changing quickly.  We are studying the numbers every day so we can be clear about where the market is heading.

Here is a check on the market halfway through October.

Compared to last October…

  • Available inventory is up 73% in Northern Colorado and up 112% in Metro Denver.  This is significant for buyers who, for years, were challenged with limited selection.
  • Number of closed transactions is down 50% in Northern Colorado and 41% in Metro Denver.  This reflects the fact that fewer buyers are active right now given higher interest rates.

Prices continue to be higher than last year.  They are up 12% in Northern Colorado and 13% in Metro Denver.  We don’t expect double-digit increases to continue, but don’t expect anything like a price crash.

BlogLiving November 10, 2021

The Evolution of the Home Office

As the popularity of remote work has reached new heights in recent years, the needs of homeowners are changing. Home offices and workspaces have never been higher on buyers’ priority lists and sellers are finding ways to make their homes appeal to a remote working audience. So, what does this mean for the home office moving forward? How will it continue to evolve? Only time will tell. In the meantime, it’s more important than ever to curate a home office that fits your needs.

The Evolution of the Home Office

Whether you have a proper home office or work at a chair in your kitchen nook, what’s important is that you create a dedicated space for your work. This allows you to focus by limiting distractions that may arise from other areas of the house. It also brings a sense of work-life balance to your home by physically separating the spaces. Even if your space is limited, design your workspace to feel like its own designated spot by facing it away from an open room or pointing your workstation toward a window.

Continued Remote Work

For those who have worked remotely and will continue to do so, you’ve likely gotten a grasp of how your home workspace can best fit your unique needs. Perhaps you decided to ditch the desk chair for a yoga ball or switched out that old desk lamp for a therapy light. But now that remote work has become your long-term reality, it’s time to think about how the space will fit your long-term needs.

Gone are the days of your home workspace being an afterthought. Working from home long-term means that your home office is now one of the most-used spaces in the house, so it’s important to keep it organized. Declutter the space with efficiency and productivity in mind, prioritizing the items that are essential for your job. We work well when we feel well, and an organized space can help reduce anxiety and work-related stress.

As your remote work continues, it may be time to make investments that you were previously on the fence about making. Whether it’s a second monitor, a supportive floor mat under your chair, a new design on your wall for your Zoom background, or a standing desk, now that you’ll be working from home for the foreseeable future, it’s important that your home office provides you with all the tools you’ll need while inspiring you to do your best work. 

Returning to In-Person Work

For those whose days of a fully remote work schedule are coming to an end, your home office needs will evolve, so it’s important that the space reflects those changes.

  • Full-Time: Returning to in-person work full-time means your home office will be vacant for extended periods of the day. Because you won’t be using it nearly as much, you have the freedom to either keep it as is or convert the room into something else. If you’ve dreamt of having a game room, a home gym, a playroom for the kids, or creating your version of a home theater, this is the perfect opportunity to do so.
  • Part-Time / Hybrid / Flex: A hybrid or flex work schedule allows for flexibility with your home office. Paring down your workspace and transferring some equipment to your desk at work will help you declutter. Outfit both workspaces to fit your needs to avoid lugging equipment back and forth. For example, if one location is primarily meant for attending meetings and the other is for working on projects, you can curate each space accordingly.

 

For more information on how remote work can change your needs as a homeowner, read our blog on The Remote Worker’s Home Buying Process.

BlogColorado Real EstateFor BuyersFun FactsReal Estate Market Update July 2, 2021

Inventory Uptick

We are noticing a trend that is very good news for buyers.

Inventory has been increasing over the last month which means that buyers now have more properties to consider.

Just in the last week, the number of homes for sale has increased:

13% in Larimer County

12% in Weld County

11% in Metro Denver

If you are a buyer who has been waiting for home properties to look at, now is the time!

BlogBuyers & SellersColorado Real EstateFort Collins Real EstateMarket News May 18, 2021

Want a house in Fort Collins? Grab $500,000, get in line and join the housing Hunger Games

“Buying a house in Fort Collins these days can feel like a combat sport. Maybe more like the

‘Hunger Games.’ Or Charlie Brown and the football — every time you get close to the ball,

Lucy whisks it away…”

 

Pat Ferrier at the Fort Collins Coloradoan breaks down the housing market in Northern Colorado with the help real estate professionals across the front range. Click the link below to read on!

 

Fort Collins real estate_ Average home price near $500K in market

Buying & SellingWindermere Real Estate March 24, 2020

What ‘s My Home Worth? The Downside to Home Valuation Tools

What’s your home worth?

 

It is a seemingly simple question. However, discovering the worth of your home is more complicated than it might seem. Sites like Zillow, Redfin, Eppraisal, and others have built-in home valuation tools that make it seem easy, but how accurate are they? And if you get three different answers, which one do you believe? Online valuation tools have become a pivotal part of the home buying and selling process, but they’ve proven to be highly unreliable in certain instances. What these valuation tools have made clear is that real estate agents are as vital to the process of pricing a home as they ever were—and maybe even more so now.

 

Every online valuation tool has its limitations. Most are readily acknowledged by their providers, such as “Zestimate” from Zillow, which clearly states that it offers a median error rate of 4.5%. That may not sound like a lot, but keep in mind that 4.5% amounts to a difference of about $31,500 for a $700,000 home. For Redfin and Trulia, there are similar variances. When you dig deeper into these valuation tools, it’s no wonder that there are discrepancies. They rely on a range of different sources for information, some more reliable than others.

 

Redfin’s tool pulls information directly from multiple listing services (MLSs) across the country. Others negotiate limited data sharing deals with those same services, relying on public and homeowners’ records alike. This can lead to gaps in coverage. These tools can serve as helpful pieces of the puzzle when buying or selling a home, but the acknowledged error rate is a reminder of how dangerous a heavy reliance on them can be.

 

Nothing compares to the level of detail and knowledge a professional real estate agent offers when pricing a home. An algorithm can’t possibly know about the unique characteristics of neither a home nor its neighborhood. Curious about what improvements you can make to get top dollar or how buyer behaviors are shaping the market? They cannot provide an answer there, either. That can only be delivered by a trusted professional whose number one priority is getting you the best price in a time frame that meets your needs.

 

If you’re curious about your home’s value, Windermere offers a tool that provides a series of evaluations on your property and the surrounding market. And once you’re ready, we’re happy to connect you with a Windermere agent who can clarify this information and perform a Comparative Market Analysis to get an even more accurate estimate of what your home could fetch in today’s market.

Buying & Selling September 19, 2019

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.

Buying & SellingColorado Real EstateConifer Real EstateEvergreen Real EstateKittredge Real EstateLakewood Real EstateMoneyMorrison Real EstatePine Real Estate November 26, 2018

How to Avoid the Most Common Buying/Selling Mistakes

Posted in Buying and Selling by Tara Sharp

How to Avoid the Most Common Buying/Selling Mistakes

There’s nothing more exciting, rewarding, and fulfilling than buying a home. However, it’s a complex transaction, and 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. A good place to start is the “HUD Wish List,” which is available online for free at http://www.hud.gov/buying/wishlist.pdf

#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 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.

Buying & SellingColorado Real EstateConifer Real EstateEvergreen Real EstateHome MaintenanceKittredge Real EstateLakewood Real EstateMorrison Real EstatePine Real Estate November 5, 2018

Affordable Tips To Up Your Home’s Curb Appeal

Posted in Living and Windermere by Kenady Swan

You’ll never have a second chance at a first impression, so let’s make it count! When it comes to upping your home’s curb appeal, there are plenty of small changes you can make that have a big impact. And best of all, you don’t need to call in the pros or spend a fortune to get beautiful results. Below are some helpful and affordable tips.

A Well-Maintained Yard

Mowing: The first step to a well-manicured lawn is to mow it regularly. The experts recommending mowing high because mowing it too short can damage the grass and allow weeds to set root.

Weeds: To prevent weeds like crabgrass use a pre-emergent herbicide in early spring. These herbicides manage the weeds by stopping the seeds from sprouting in your lawn. Broadleaf weeds like dandelions can be stopped by applying granular weed control products.

Feeding: Lawns consume mostly nitrogen, so look for mixes of fast and slow release fertilizers; they will feed your lawn over time while keeping it lush and green.

Watering: Nighttime watering can result in long spans of moisture on the blades, potentially exposing your grass to disease. Consider watering your lawn in the morning – the sun helps dry out the blades throughout the day.

Flowers: You can quickly and affordably dress up your yard with colorful pre-made flower pots and containers. When placing your flower pots and containers remember that asymmetrical arrangements and staggering plants will provided the liveliest setting.

 

Dress up the Front Door and Porch

Paint: A fresh coat of paint in a pop color can give your home a well-deserved facelift. If you are hesitant to add a bright color to your front door, check out our article Energize Your Home This Winter With Bright Hues.

Replace Old Hardware: Clean off any dirty spots around the door knob, and use a metal polish on the fixtures. Change out house numbers for an updated feel, put up a wall-mounted mailbox, or add an overhead light fixture. Keep in mind that well thought through elements, instead of mix-and-match pieces, will add the most curb appeal.

Create Perfect Symmetry: Symmetry is one of the simplest design techniques to master and is the most pleasing to the eye. Maintain symmetry by flanking your front door with two sidelights (just make sure that your hardware matches); find two urn planters or a unique visual detail to put on either side of your door.

Buying & SellingColorado Real EstateConifer Real EstateEvergreen Real EstateKittredge Real EstateLakewood Real EstateMarket NewsMorrison Real EstateMountain LivingPine Real Estate October 15, 2018

Fall Perspectives 2018: Our Pledge To You

Posted in Perspectives by Jill Jacobi Wood, OB Jacobi & Geoff Wood

Change is afoot. We suppose it always is, but doesn’t it all seem to come at us so much faster in today’s world? We see change all around us. Just consider, for a moment, how much technology has changed our lives thanks to innovators like Uber, Google, and Apple, to name a few. Technology has also changed the way we do real estate.

The real estate world is a complex environment that most of us only travel once every 10 years. This infrequency, coupled with the ever-changing laws and emotional toll, makes it very hard for most of us to navigate. That’s why we rely on a professional. Even those of us who live and breathe real estate every day use a Windermere agent to conduct our personal transactions.

Thanks to technology, certain aspects of the real estate process that were once difficult are now very easy, like searching for a home. Within minutes of a property being listed, it’s fed to websites all over the world for potential buyers to see. Information about neighborhoods, schools, and home values are also readily available online to help buyers make smart decisions.

There’s no doubt that real estate will continue to benefit from technology, but we’re concerned about the companies that are beginning to look at consumers less as people and more as data that can be generated and shared for monetary gain.

At Windermere, our agents don’t treat their clients like data points being fed into an algorithm; they know them on a personal level. They help buyers make one of the biggest financial and emotional decisions of their lives. They help sellers understand the nuances of the market so they can get top dollar for their home. They are experts in neighborhoods, market trends, contracts, and negotiations. They treat their clients with respect and compassion. And they care deeply about their local community.

As the saying goes, the more things change, the more they stay the same. Real estate is the perfect example of that. Technology will continue to change and improve how people buy and sell homes, but our pledge to you is that it will never replace what has always mattered most to us: relationships.

– OB JACOBI, JILL JACOBI WOOD, AND GEOFF WOOD