A History Lesson

One of the most common questions we hear from clients is “Where do you think interest rates are going?”

Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work that are pushing rates higher.

So, how about a little history lesson? How do today’s 30- year mortgage rates compare to this same date in history going all the way back to 1990?

• Today = 4.85%
• 2017 = 3.94%
• 2015 = 3.82%
• 2010 = 4.27%
• 2005 = 5.98%
• 2000 = 7.84%
• 1995 = 7.75%
• 1990 = 10.22%

While today’s rates feel high only because they are higher than 2017, they are quite a bit lower than at many times in history.

Posted on October 25, 2018 at 8:56 pm
Kyle Basnar | Category: Blog, Fort Collins Real Estate, Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , , , , ,

The Cost of Waiting

It’s true, certain parts of our market are cooling off. We are seeing fewer multiple offers, fewer bidding wars, and fewer inspection concessions.
However, homes that are priced right and in great condition are selling, and in many cases, selling quickly.

As buyers feel the market cool a bit, it may cause them to want to wait. They sometimes feel like it’s a better choice to ‘wait and see what happens.’

The reality is, there is a real cost to waiting given two specific facts.

1. Interest rates will continue to rise
2. Prices will continue to rise

Interest rates are a little more than 0.5% higher than a year ago and experts predict them to be another 0.5% higher by this time next year.

Prices have been appreciating at roughly 10% per year for the last four years. Based on the numbers, we see that appreciation could be 5% per year for the next two years.

So, let’s look at a house priced at $450,000 today. If prices go up “only” 5% for the next 12 months, that home will cost $22,500 more in a year.

And, if rates go up another half percent, the monthly payment will be $206 higher. That’s an 11% increase!

In an environment of rising prices and rising rates, there is a real cost to “wait and see.”

Posted on September 10, 2018 at 11:30 pm
Kyle Basnar | Category: Fort Collins Real Estate, Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , ,

Multi Family Unit in Fort Collins!

Check out this great investment multi family living unit in good shape at 510 N Shields St. Bonus carriage house in backyard with separate utilities. Please call listing agent for details. Currently rented to 2 tenants. Buyer will take ownership of lease. Potential to Gross $42,000/yr in income. Call for your private showing at 970-481-5689 for more information or click the link below for more details.

http://bornandraisedfoco.com/listing/82965108

Posted on August 21, 2018 at 5:11 pm
Kyle Basnar | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , ,

Beautiful Town-home with Two Master Suites in Fort Collins!

3826 Rock Creek Dr #D is at a great location on the Harmony Corridor with access to shopping, dining, medical, schools, biz & more. Mountain views and a summertime pool. Includes designer tile, granite, wood flooring, new paint, stainless steel appliances, vaulted ceilings, open floor plan, den/office, and a fireplace–just what you want! Large finished basement with private bedroom and bath. Fenced yard and deck. This unit is pristine but you must see for yourself! Call for your private showing at 970-481-5689 for more information or click the link below for more details.

http://bornandraisedfoco.com/listing/81057571

 

Posted on July 2, 2018 at 10:46 pm
Kyle Basnar | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , , , , , , , , , , , , , ,

Unfinished Brownstone Town-home in the Heart of Fort Collins!

1038 W Mountain Ave a luxury Brownstone unit with high quality construction, ready for the buyer’s personal design! Presenting an open and flowing floor plan, conceptual designer kitchen, dining space, gas fireplace, 3 luxurious master suites, flex space, and balcony overlooking Mountain Ave. Featuring a large front patio and private fenced yard space in back. Including one-car detached garage and additional parking. Easy access to Old Town, City Park, & CSU. The only zero maintenance lock-and-leave living on Mountain! Call for your private showing at 970-481-5689 for more information or click the link below for more details. Please note that the video below is for a similar model.

http://bornandraisedfoco.com/listing/80572554

Posted on June 19, 2018 at 10:10 pm
Kyle Basnar | Category: Fort Collins Real Estate, Virtual Tour | Tagged , , , , , , , ,

Wonderfully Maintained Home on a Huge Lot!

1024 Wakerobin Ln is at a great location near parks, bike paths and Front Range Community College. Enjoy peace and quiet in the master suite or host friends and family in the large, lush yard. The shed provides plenty of extra storage. Ask about the long list of updated items and upgrades. Fully fenced backyard. Conveniently located near schools, shopping and the MAX line.  Call for your private showing at 970-481-5689 or click the link below for more details.

http://bornandraisedfoco.com/listing/79263474

Posted on May 17, 2018 at 5:06 pm
Kyle Basnar | Category: Virtual Tour | Tagged , , , , , , , , , , ,