The Whole Story

Metro Denver has 2.1 months of inventory on the market. This means that, at the current pace of sales, it would take just over 2 months to sell every single-family home currently listed for sale.

But that’s not the whole story because inventory levels vary drastically depending upon the price of the home.

When we take a closer look at months of inventory broken down by price range this is what we see:

• Under $400,000 = 0.9 months
• $400,000 to $500,000 = 1.8 months
• $500,000 to $750,000 = 3.1 months
• $750,000 to $1,000,000 = 4.2 months
• Over $1,000,000 = 7.7 months

These numbers represent great news for move-up buyers because they can sell in a strong market and potentially move up to a market that is market that is not as strong.

 

Below is a short video with a recap of our annual Market Forecast presentation!

Posted on February 15, 2019 at 1:13 pm
Posted on February 18, 2019 at 6:53 pm
Kyle Basnar | Category: Blog, First Time Home Buyer, For Buyers, Fort Collins Real Estate, Loveland Real Estate, Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , , , , , , , ,

How’s 2019?

A lot of our clients are asking how 2019 is starting off.

Here’s one thing we notice…

There are more homes to choose from, which is great news for buyers.

In January alone 4,821 homes came on the market in Metro Denver.

That is a 14% increase compared to one year ago.

At our annual Market Forecast, we predicted a more balanced market in 2019, so far it looks like we are trending that way.

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Below is the recap of our Denver Annual Market Forecast!

Posted on February 12, 2019 at 12:48 am
Kyle Basnar | Category: For Buyers, Fort Collins Real Estate, Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , ,

Mid-Century Modern Ranch in Fort Collins!

Completely remodeled & updated mid-century ranch at 1624 Smith Place! Sellers have added $40K of additional updates since last purchased. Updates include: Solid hickory floors throughout, stainless appliances, large kitchen island, open floor plan, new carpet & tile, upgraded electrical, new water heater, radon mitigation & ring doorbell. Gorgeous custom low maintenance landscaping! Next to Spring Creek Trail, a bike ride to Old Town & the newly updated Midtown shops at Foothills. Location! Location! Location! Call for your private showing at 970-481-5689 for more information or click the link below for more details.

http://windermerenoco.com/listing/87785649

Posted on October 22, 2018 at 10:02 pm
Kyle Basnar | Category: Fort Collins Real Estate, Virtual Tour | 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 , , , , , , ,

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 , , , , , , , , , , ,

66% Off!

This just in…

For the month of April, the average price of a home in the city of Boulder was $1,247,000. This is according to the latest from our IRES MLS system.

If you want to own a home about an hour down the road in another really nice college town and get a 66% discount, you may want to check out Fort Collins 🙂

Yes, despite the recent uptick in prices here locally, we are still a bargain compared to Boulder. Here are median single-family prices for our markets and their relative price to Boulder:

  • Fort Collins = $414,237 (66.8% off)
  • Loveland = $360,150 (71.1% off)
  • Greeley = $290,000 (76.7% off)
  • Windsor = $306,450 (75.4% off)

Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at colorado@windermere.com and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.

Posted on May 11, 2018 at 4:37 pm
Kyle Basnar | Category: Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , , , ,

52.8 Acres of Land in Fort Collins!

With endless mountain views at 6015 S Timberline Rd .  This underdeveloped site is an incredible investment/development opportunity. Located in a prime location in Fort Collins, it is currently zoned FA1. Surrounding properties have been rezoned to LMN, with all multifamily development. Backs to Southridge golf course. No showings of the house until under contract. Also available for purchase at market value are 10 shares of CBT and 1 share of New Mercer Ditch. $500K of water rights. Contact me for more information at 970-481-5689 or click the link below for more details.

http://bornandraisedfoco.com/listing/77374327

Posted on April 10, 2018 at 10:25 pm
Kyle Basnar | Category: Fort Collins Real Estate, Windsor Real Estate | Tagged , , , , , , , , ,

Final Four

At the end of this weekend College Basketball’s Final 4 will be established. It might make you wonder, what the top 4 and bottom 4 real estate markets across the country?

Here they are, ranked by the last 12 months of appreciation according to fhfa.gov:

Top 4:

  1. Tacoma, WA 14.6%
  2. Seattle, WA 14.3%
  3. Port St. Lucie, FL 13.7%
  4. Las Vegas, NV 13.6%

Bottom 4:

  1. Atlantic City, NJ -3.14%
  2. Peoria, IL -3.0%
  3. Huntington, WV -2.6%
  4. Jackson, MS -1.2%
Posted on March 23, 2018 at 10:53 pm
Kyle Basnar | Category: Fort Collins Real Estate, Northern Colorado Real estate | Tagged , , , , , , , , ,

10,000 Short

Northern Colorado isn’t the only place with limited inventory.

Metro Denver is short by 10,000 listings.

The average number of homes for sale for this time of year in the Denver area, going all the way back to 1985, is 14,309.

Right now there are 4,084 residential properties on the market. This is a difference of 10,225 listings compared to the long-term average.

The peak was 2008 when there were 25,037 listings. The lowest year was last year with 3,878 (a drop of 21,159 in 9 years?!).

The good news for buyers is that inventory is up 5% compared to last year. Another piece of good news is that the Spring tends to produce the highest amount of inventory for buyers to pick from.

Posted on March 10, 2018 at 3:40 am
Kyle Basnar | Category: Fort Collins Real Estate, Northern Colorado Real estate, Northern Colorado Realtor | Tagged , , , , , , , ,