BlogCommunityWindermere Real Estate October 7, 2020

Our Commitment to Change: A Message to Our Community

For nearly 50 years Windermere has been deeply rooted in the communities where we do business. However, the resurgence of the Black Lives Matter movement has made us realize that our roots don’t extend as deep as we thought. It also made us realize that over the decades, the real estate industry has played a significant role in exacerbating systemic racism through redlining and steering, which has prevented many members of historically marginalized communities from building wealth through homeownership.
This summer, we began a robust diversity, equity, and inclusion journey supported by an organization called Moving Beyond that specializes in helping companies integrate and operationalize DEI. Next, we formed two internal workgroups, with a diverse makeup of Windermere franchise owners, managers, agents, and staff to guide and implement DEI efforts across our 10-state organization.
Following three months of collective conversations, we have identified several short- and long-term initiatives on which to focus – all with the aim of building a diverse organization that fosters a sense of belonging and provides equal opportunity across all aspects of homeownership for people of color. Some of these activities can be acted upon right away, as we develop a long-term strategic direction for our DEI efforts.
We’re committed and in it for the long haul, and believe transparency is a critical part of this journey, so here is an update about our goals and progress thus far:
● In August, we conducted an internal survey among our owners, managers, and staff, to create a benchmark of where we are as a company and help guide the direction that we need to take to advance our DEI initiatives. An agent survey is forthcoming in 2021.
● We are producing informational content related to CC&Rs to educate homeowners on how to remove racially restrictive language from their title reports in the 10 states where Windermere operates.
● We are working with an advertising agency that specializes in inclusive and future-forward marketing to evaluate our digital marketing products through a DEI lens.
● We have designated funds for a scholarship program that invests in people of color who want to work in real estate, and are designing training and mentoring programs to aid in their success.
● We are building internal DEI training and development programs, starting with franchise owners, managers, and staff, with plans to expand to agents in 2021.
● We are analyzing our hiring processes to ensure broader representation by people of color.
● We’re generating insights from all these efforts to help us develop a set of thematic pillars to guide our DEI goals and strategy over the long term.
● We’re planning on listening sessions this fall for the Windermere community to continue to have input in this process.
This is just the beginning of what we know will be a long-term journey of awareness and accountability. We are focused and determined to do our part to address discrimination, racism, and inequity within Windermere and the real estate industry. Our efforts stem from the recognition that there is a long history of housing discrimination in the United States and that the inequality in homeownership has deepened the racial divide. Through our work, we hope to play a role in finding ways to correct these inequalities. We realize we were late to this movement and should’ve spoken up sooner, but our eyes are open, and we are committed to leading the way towards positive change from here on out.
Economics 101Market News December 11, 2019

Matthew Gardner’s 2020 Real Estate Forecast

It’s that time of year when Windermere’s Chief Economist Matthew Gardner dusts off his crystal ball and peers into the future to give us his predictions for the 2020 economy and housing market.

Blog September 9, 2019

Windermere Living Fall Issue

Dear Readers,

Welcome to the fall issue of Windermere Living! Are you a foodie who loves to travel? Inside this issue is an article about interesting destinations where you can enjoy edible, immersive experiences like making your own coffee on the Kona coast of Hawaii, or diving for clams in Cabo and cooking them with an executive chef.

If you’ve ever undergone a major home remodel, you know all too well how important it is to partner with the right architect. We explore that topic in this issue, along with some pro tips on how to match yourself up with the perfect architect for your project, a process that isn’t that different from dating.

Last but not least, there are more than 70 pages filled with homes for sale throughout the Western U.S. Whether you’re in the market for a country farmhouse or a high-rise condo, there’s a little something for everyone.

This is just a sampling of what you’ll find in this issue of Windermere Living; we hope you enjoy it!

Read the Fall Issue of Windermere Living.

Colorado Real EstateMarket News June 26, 2019

Mortgage Rate Forecast

Geopolitical uncertainty is causing mortgage rates to drop. Windermere Chief Economist, Matthew Gardner, explains why this is and what you can expect to see mortgage rates do in the coming year.

 

Over the past few months we’ve seen a fairly significant drop in mortgage rates that has been essentially driven by geopolitical uncertainty – mainly caused by the trade war with China and ongoing discussions over tariffs with Mexico.

Now, mortgage rates are based on yields on 10-Year treasuries, and the interest rate on bonds tends to drop during times of economic uncertainty.  When this occurs, mortgage rates also drop.

My current forecast model predicts that average 30-year mortgage rates will end 2019 at around 4.4%, and by the end of 2020 I expect to see the average 30-year rate just modestly higher at 4.6%.

Colorado Real EstateLivingMarket News May 8, 2019

Colorado Real Estate Market Update

Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate 

 

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 44,800 new non-agricultural jobs over the past 12 months. This represents a reasonable growth rate of 1.7%. As stated in last quarter’s Gardner Report, we continue to see a modest slowdown in employment gains, but that’s to be expected at this stage of the business cycle. I predict that employment growth in Colorado will pick back up as we move through the year, adding a total of 70,000 new jobs in 2019, which represents a growth rate of 2.6%.

In February, the state unemployment rate was 3.7%, up from 2.9% a year ago. The increase is essentially due to labor force growth, which rose by more than 84,000 people over the past year. On a seasonally adjusted basis, unemployment rates in all the markets contained in this report haven’t moved much in the past year, but Boulder saw a modest drop (2.7%), and the balance of the state either remained at the same level as a year ago or rose very modestly.

 

HOME SALES

  • In the first quarter of 2019, 11,164 homes sold — a drop of 3% compared to the first quarter of 2018 and down 13.5% from the fourth quarter of last year. Pending sales in the quarter were a mixed bag. Five counties saw an increase, but five showed signs of slowing.
  • The only market that had sales growth was Adams, which rose 4.9%. The rest of the counties contained in this report saw sales decline, with a significant drop in the small Park County area.
  • I believe the drop in the number of home sales is partially due to the significant increase in listings (+45.6%), which has given would-be home buyers more choice and less need to act quickly.
  • As mentioned above, inventory growth in the quarter was significant, but I continue to believe that the market will see sales rise. I expect the second half of the year to perform better than the first.

 

 

HOME PRICES

  • Home prices continue to trend higher, but the rate of growth is tapering. The average home price in the region rose just 2.1% year-over-year to $456,243. Home prices were .3% higher than in the fourth quarter of 2018.
  • I anticipate that the drop in interest rates early in the year will likely get more buyers off the fence and this will allow prices to rise.
  • Appreciation was again strongest in Park County, where prices rose 21.9%. We still attribute this rapid increase to it being a small market. Only Clear Creek County experienced a drop in average home price. Similar to Park County, this is due to it being a very small market, making it more prone to significant swings.
  • Affordability remains an issue in many Colorado markets but that may be offset by the drop in interest rates.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home in Colorado rose five days compared to the first quarter of 2018.
  • The amount of time it took to sell a home dropped in two counties — Gilpin and Park — compared to the first quarter of 2018. The rest of the counties in this report saw days-on-market rise modestly with the exception of the small Clear Creek market, which rose by 26 days.
  • In the first quarter of 2019, it took an average of 42 days to sell a home in the region, an increase of four days compared to the final quarter of 2018.
  • Job growth drives housing demand, but buyers are faced with more choice and are far less frantic than they were over the past few years. That said, I anticipate the late spring will bring more activity and sales.

 

 

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 first quarter of 2019, I have moved the needle a little more in favor of buyers. I am watching listing activity closely 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 towards a more balanced market.

 

 

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.

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

Find a New Home in Four Steps

Posted in Buying by Marilou Ubungen

Whether you’re a first-time homebuyer or a current owner looking for a bigger home, the ideas below will help you better navigate that all-important first step: Finding a property that you like (and can afford).

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 next steps, plus much more. If you are interested in finding an experienced agent in your 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 few homes on the market now in many areas, and so many people competing to buy what is available, it’s far more efficient to focus your search on only 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.

Will you be having children in the next five or six years? Where do you see your career heading? Are you interested in working from home, or making extra money by renting a portion of your home to others? Do you anticipate a relative coming to live with you? Share this information with your real estate agent, who can then help you evaluate school districts, work commutes, rental opportunities, and more as you search for homes together.

Step 4: Document 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.

Buying & SellingColorado Real EstateEvergreen Real EstateHousing TrendsLakewood Real EstateLivingMarket NewsMorrison Real EstateMountain LivingPine Real Estate July 11, 2018

How Staging Your Home Well Impacts Its Value

Posted by John Trupin

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 homebuyers 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 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, it 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.

Living April 11, 2018

Why Not White Marble?

Are you thinking about replacing your kitchen or bathroom countertops? The choices are endless; tile, granite, soapstone, wood, or maybe marble? White marble often gets a bad rap because it’s a more porous metamorphic stone than most (which means it’s prone to stains and scratches), but we beg to differ, and here’s why.

White marble is as timeless as it is modern. Adding white marble to your kitchen or bathrooms is like bringing home flowers for your significant other; always a good idea. It looks great on kitchen counters, but also just about anywhere in your bathrooms, from the floor to the shower walls.  Adding white marble countertops to a dressing vanity in bedrooms is also a great way to incorporate it throughout your house.

After you’ve made the decision to install white marble into your home, you’ll need to decide on a finish. Honing gives a matte finish, whereas polishing creates a shiny, reflective surface. If you want to reduce etching, choose a honed finish instead of a polish. If you don’t mind some added etching, then polished white marble is as stunning as it sounds.

How do you keep your marble happy? Make sure to apply a seal prior to using it. To reduce staining, wipe away spills immediately, and only use a neutral detergent to clean your marble. These simple things will keep your white marble in shipshape condition.

When it comes to your marble, it’s more like you than you think. Marble goes through good times and bad times and some scars fade better than others. It will never be perfect, but in the end, we think you’ll love it—imperfections and all.

Check out white marble looks we love on Pinterest.

Living April 9, 2018

Gardening Trends For 2018

Outdoor living during the spring and summer months is extremely popular. Months of cold, wet winters are followed by glorious spring colors and warm summer days of vivid blue skies. In this post, we thought that now would be the best time to share some pretty garden trends for 2018.

Wabi-Sabi

Leisure time should be just that: relaxing and rejuvenating. So why labor relentlessly to create and maintain a perfect landscape? Wabi-sabi, is the Japanese art of accepting transience and imperfect beauty. Relax and appreciate nature as it is, with humble imperfections, weeds and all. Recognize (and tell others) that dandelions and clover in untreated lawns are not blights. They are status symbols for ecological horticulture. Consider natural grasses and groundcovers as low-maintenance substitutes for sod. Opt for perennials instead of annuals, let flowers go to seed and give nature license to evolve on her own.

Reclaiming Small Outside Spaces

For many of us these days, space is at a premium and with house prices continually on the rise, more and more people are living in apartment blocks or tiny lots. Garden designers are determined to make even the smallest of spaces useful and attractive, and manufacturers have taken notice. Look for a better choice in planters that slot onto balcony rails. New models will have coverings for protecting plants from cold temperatures so that you can even grow seeds and vegetables on your balcony alongside your flowers.

Self-watering wall planter systems have been improved for 2018 and the hanging macramé plant holder is having a bit of a revival. Add a small patio heater and you have an outside space you can enjoy all year round with minimal effort.

Purple Passion

Pantone’s Ultra Violet is the color of the year. Maybe that’s why you find purple flowers in this year’s plant varieties and garden design. It’s easy to incorporate this color in the garden as there are many flowers and shrubs with this beautiful color. However, there are also several edible purple plants that you can grow. Purple vegetables are not only interesting and pretty, their unique color denote anthocyanins which are very beneficial to your health.

Re-Wilding

This is a style that keeps popping up time and again. However, 2018 has taken the re-wilding trend up another notch. It is still all about working with nature, growing wildflowers and supporting our pollinating insects. Re-wilding means adjusting plant selections to better support local wildlife and growing both seed-producing and berry-bearing plants. However, now it is also about using ‘green’ gardening products, natural solutions to bug and slug killers instead of chemicals and insecticides and using peat-free products.

Alfresco Living

Outdoor entertaining and kitchen areas are tipped to be a key trend for Spring/Summer 2018. We are not talking about a little nook corner just off the kitchen. Alfresco dining spaces are being pushed out into the garden itself and made into a major feature. These dedicated outdoor dining areas are surrounded by in-ground and container plants for that lush feeling. Special flooring, comfy furniture and mood lighting turn it into a little haven. Complete the trend with a sunken fire pit, barbecue or pizza oven and you might never want to leave.

Lighting The Way

Adding lighting to your garden is not a new thing. However, in this age of renewable energy, garden lighting companies are turning away from the more traditional lighting solutions we have seen in the past. The advances in solar energy capture, means that we can light up our gardens in a variety of fun, affordable and better ways. No more changing batteries or wiring up the garden with electricity.

The wide range of lighting methods allows you to create whatever ambience you want. Simple stand-alone lights can mark pathways, either discreetly embedded into the path edges or standing loud and proud along the side. Multi-colored fairy lights can be tangled among the overhead branches of a tree creating dazzling shapes and textures. Solar Mason jars can be hung from above or used as table lighting. Festoon lights can create an ambient glow around any outdoor space creating romantic nooks.

Living April 6, 2018

6 Foyers That Invite in Style

With a side entrance to your home, you can be a little more forgiving when it comes to messes. But with a front-door entry, through which you and your guests get a first impression of your home, you’ve got to be a little more on top of your style and storage game. The following are some of the most popular front-entry photos recently, as measured by the number of people who saved them to their Houzz ideabooks from January through March. Let us know which will inspire your next project.

Entryway 1Jackson and LeRoy, original photo on Houzz

6. A classic wooden bench offers a spot to take off and put on shoes in this farmhouse-style entryway in Utah.

Related: Wipe Your Shoes on a Durable Outdoor Rug

Entryway 2Nicole Benveniste Interior Design, original photo on Houzz

5. Benjamin Moore’s Plaster of Paris paint on the walls sets the soothing tone for this spacious San Francisco entry. A large painting featuring pale swaths of color hangs over a few well-chosen accessories atop a weathered wood table, starting this home off on the right foot.

Entryway 3Brian Paquette Interiors, original photo on Houzz

4. Here, a burl-wood-type table and vibrant abstract art create movement and excitement.

Related: Flower Vases for the Entryway

Entryway 4Tim Barber Ltd Architecture, original photo on Houzz

3. A rich wood built-in helps organize this Los Angeles entry. A frosted, ribbed glass window obscures the view into the living room.

Entryway 5NEST Interior Design Group, original photo on Houzz

2. An eclectic mix of art and accessories beckons guests into this Houston home. A table offers a spot for keys and wallets, while wire baskets below can handle shoes and bags.

Entryway 6Fluidesign Studio, original photo on Houzz

1. Creamy shiplap walls, rich wood floors and a wood console table establish a refreshing air in this Minneapolis home.

By Mitchell Parker, Houzz