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Colorado Housing TAX ASSESSMENT TIME This week’s fun fact is that you just received your new valuation from your County Assessor and you have until June 8th to protest the value. By statute, properties in Colorado are re-assessed every two years and owners are given their new Assessed Valuation in early May. This year, many Colorado property owners are surprised […]
Fun Facts In Demand For evidence that the Front Range is a desirable place to live and own real estate, look no further than the average price of our real estate. According to the National Association of Realtors, the average price of a home in the United States is $486,000. Compare that to the average price in our major […]
Fun Facts Not As Different Real Estate in the first part of 2023 along the Front Range is certainly different than the first part of 2022.  But, in terms of number of transactions, it is not as different as one might guess. Yes, higher interest rates and lower inventory has caused the number of transactions to be less than last […]
Fun Facts More Buyers Than Sellers The real estate market today, quite simply, has more buyers than sellers. Let’s be clear, this is not the heated market of 2021 and 2022. However, the market is undersupplied in most price ranges and most locations. The National Association of Realtors just reported that the number of new listings hitting the market each week […]
Fun Facts Dropping Inventory Breaking News – months of inventory has dropped significantly signifying an uptick in real estate activity along the Front Range.‘Months of inventory’ is an important statistic and something we commonly talk about in this blog. It simply measures how long it would take to sell all of the homes currently for sale at the current pace […]
Fun Facts Picking up Steam In a market that seems abnormal to a lot of people we notice a very normal trend right now.  As we head into Spring, activity is picking up. This happens pretty much every Spring and it is happening again. When we measure the number of properties under contract, which are set to close in the […]
Fun Facts No Middle Class “The middle class is going away” is an often-used adage when talking about society. It is also a good way to describe today’s real estate market.  When it comes to properties for sale, the middle class has gone away.There is a class of listings which are priced to the market, in great condition, with world-class marketing.Then, […]
Fun Facts March Madness When things get crazy on Wall Street, it’s often good for real estate. Uncertainty in the stock market attracts investors to the stability offered by Treasury Bonds. Higher demand for bonds means lower interest rates which is obviously good for real estate buyers. “Turbulence in the financial markets is putting significant downward pressure on rates” […]
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Fun Facts Equity Cushion You may remember the term “Home ATM” from the mid 2000’s. This term stemmed from the abundance of homeowners who pulled significant amounts of equity from their homes in the form of Home Equity Loans and Lines of Credit. Home values dropping in 2008, 2009 and 2010 caused many homeowners to be ‘underwater’ meaning that, […]
Fun Facts Small is the New Big The average size of new homes is dropping.  This is after a two-year period that saw size increase significantly.  This is according to the National Association of Home Builders’ Eye on Housing.The COVID-19 pandemic changed how much time people spent in their homes and also how they used their homes. Homeowners discovered a need for […]
Fun Facts A Little Perspective… Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies.  During that time there were unique factors which drove abnormally high real estate activity. The number of transactions that occurred in those three years were at levels never seen before.It has become customary to compare the market in 2023 […]
Fun Facts Rate Prediction Our Chief Economist, Matthew Gardner predicts that interest rates will hit 5.4% by the end of 2023. His prediction is aligned with most expert real estate economists. While rates will continue to bounce up and down as the year goes on, the general trend will be lower rates. This prediction is mainly based on the […]
Fun Facts Jobs Bounce As the job market goes, so goes the housing market.  This is a fact about any primary housing market. If employment is growing, the housing market will keep growing. One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back. Not […]
Fun Facts Equity Rich Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event.The term ‘equity rich’ is defined as someone who has at least 50% equity in their home.For example, if someone owns a home worth $500,000 and their […]
Fun Facts Luxury Stats The numbers are in.  2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past […]
Fun Facts No Bear Altos Research is one of the most trusted sources of real estate market information in the United States.  Each week they track every single home for sale across the Country.  They analyze the pricing, supply, demand, and status changes for all listings.  This amount of data allows them to expertly predict changes in the market. […]
Fun Facts Versus 2019 Because 2021 and 2020 were such unique years in real estate because of the considerably low interest rates, many people in our industry believe it makes sense to compare 2022 to 2019 when looking at the key statistics. Here’s how 2022 looked along the Front Range compared to 2019:                                                Prices                   Number of […]
Fun Facts RSVP Time There are four key questions that our clients have right now:1. What will values do this year and is there any chance of a housing bubble?2. When will mortgage rates drop below 6%?3. Will inflation subside this year?4. Is now a good time to buy or sell? All of these questions will be answered by our […]
Fun Facts Incentivized More than 75% of all new home builders are using interest rate buydowns as a way to attract buyers to their communities.This is according to new research by John Burns Real Estate Consulting.Builders are fronting several thousand dollars on behalf of their buyers so these buyers can have a lower rate for the first few […]
Fun Facts Way Under The Nation’s real estate market is significantly under-supplied.According to the most recent research from Freddie Mac, the United States has a housing supply deficit of 3.8 million units.The available inventory today is lower than it has ever been in the last 40 years and is 3.5x lower than the peak of 2008.The reason why available […]
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