Greeley Real EstateVirtual Tour April 1, 2022

Better Than New!

Beautiful & better-than-new 2-story in desirable St. Michael’s subdivision. 2912 68th Avenue, Greeley is surrounded by walking paths and close to the recently completed UC Health hospital. Discover the custom-built ins and quality finishes throughout this open and bright manicured 2019 home. The premium cabinets, granite counters, full subway tile backsplash, stainless appliances, abundant storage, & bar seating make this sunny kitchen stand out. Featuring engineered hardwood floors, smart thermostat, tankless water heater, A/C & a large covered patio, you will be comfortable whether you are lounging in the vaulted great room- or outdoors overlooking the fully landscaped yard with fire pit. The main floor study can be used as a fourth bedroom, & the main floor laundry & powder room are neatly tucked away from the entry and living spaces. You will love the huge master bedroom with 2 large closets & gorgeous ensuite bathroom. Use your imagination to complete the unfinished basement, including a roughed-in bathroom! Call (970) 534-5440 to schedule your private tour or click here for more information. 

 

BlogBuyersHousing MarketNorthernColoradoRealEstate March 30, 2022

What to Consider When Buying a Second Home

BlogBuyersFort Collins Real EstateGreeley Real EstateHousing Market March 7, 2022

Townhome Surge

HOUSING TRENDS • MARCH 4, 2022

Townhome construction has surged in the last 12 months.  This is welcome news for first-time buyers who benefit from the lower prices that multi-family product tends to provide.

According to the National Association of Home Builders, townhome construction has jumped up 28% compared to the previous year.

Townhomes now represent 13% of all new residential construction starts.

BlogBuyersFort Collins Real EstateGreeley Real EstateNOCO Real Estate February 10, 2022

7 Signs You’re Ready to Buy a Home

Making the leap from renter to homeowner doesn’t happen overnight; it requires steady planning to put yourself in a good position to buy your first home. Prospective first-time home buyers can often feel like they’re waiting for a sign to indicate they’re ready to start making offers, when really, it’s a combination of factors. Here are seven signs that you’re ready to buy a home.

7 Signs You’re Ready to Buy a Home

1. You Know Which Homes You Can Afford

To know whether you’re ready to buy, you need to identify your price range. If you’re unhappy with your pre-approval, or need more money for your desired location, there are ways you can increase your buying power. Once you know which homes you can afford, you can work with your agent to find the right home and prepare an offer.

2. You Understand Your Local Market Conditions

The dynamics of the market in which you’re buying will play a role in determining whether you’re ready to buy. The local market conditions will dictate what kinds of offers you can expect to compete against, what tactics other buyers may employ, and whether the buyer or seller will have the leverage during negotiations. Therefore, it’s important to understand the difference between a buyer’s market and a seller’s market so you and your agent can strategize accordingly.

3. You’re Comfortable with the Responsibilities of Being a Homeowner

Having a mortgage instead of paying rent isn’t the only difference between owning a home and renting. You’ll be responsible for maintaining the property, making repairs, and completing remodeling projects. That doesn’t always mean you can’t predict a future need. The best way to prepare for unexpected projects on any home is to get a home inspection before you buy so that you know every inch of the property and can start to save for larger expenses that might come down the road.

4. You Have Funds Available for Home Buying Costs

The costs of buying a home are more than just your down payment and monthly mortgage. Before you move into your new home, you’ll have to pay closing costs, moving expenses, and appraisal and inspection fees, to name a few. Property taxes can sometimes be part of the mortgage and depending on the time of year may need to be paid before you move in. Once you’re settled, homeowners insurance will enter the fold. If you can afford these costs, it’s a sign that you are ready to buy.

5. You’re Making Progress on Your Debt

Having zero debt is not a realistic expectation for every first-time home buyer. But, if you have a plan in place for paying off your outstanding debt and can show evidence of the progress you’re making, it will strengthen your buying credibility. Lenders will factor this into their assessment of your financial health during the pre-approval process.

6. You Have a Strategy for the Down Payment

It is true that lenders view a twenty percent down payment as favorable and won’t require you to purchase private mortgage insurance (PMI), but it’s not game over if you can’t make a lump sum payment of that size. With a lower-than-twenty percent down payment, you may incur higher interest and fees over the life of the loan, which could put a greater strain on your finances long-term than waiting until you can pay more principal down. Whichever route you choose, make sure you have a solid plan in place to repay your loan.

7. Your Life Aligns with Buying a Home

Buying a home means you’ll be putting down roots, so it’s important that you and your household are ready to establish yourselves in one area before you buy. There’s financial logic behind this line of thinking, as well; in general, the longer you stay in one home, the more equity you’ll build. Career and income stability also play a role in determining whether you’re ready to buy. Landing a job with long-term prospects may be just the thing you need to green-light your decision to buy your first home.

BlogBuyersFort Collins Real EstateGreeley Real EstateHousing MarketLoveland Real EstateNOCO Real Estate February 3, 2022

Matthew Gardner’s Top 10 Predictions for 2022

BlogBuyersFort Collins Real EstateGreeley Real EstateHousing MarketNOCO Real Estate January 19, 2022

Housing Inventory

Many of our clients wonder if the current pace of price growth can continue.  Some even ask if prices will decline this year.

Based on researching the Case-Shiller Home Price index and the National Association of Realtors home inventory data, there must be at least 6 months of inventory in a market for prices to have any chance of declining. We wrapped up 2021 with about 2 weeks of inventory across Larimer County, Weld County and Metro Denver. This marks a 43%-46% decrease in inventory as compared to December 2020.

The dwindling supply and the rising prices have led to a lot of questions about the future of the housing market. Is there a market crash on the horizon? Is there a housing bubble that’s about the burst? The answer is no. Although it is unlikely that the market can continue at this pace indefinitely, all signs point to a healthy housing market in 2022.

Greeley Real EstateVirtual Tour January 17, 2022

Lovely Features, Perfect Location

2333 W 11th Street Road offers flexible spaces and a great location in the heart of Greeley – and NO HOA! Backing up to open space. Near shopping, Banner Health and UNC. You are welcomed by a large, covered entry, which could be easily enclosed. The main level of the home features the recently renovated bathroom, plenty of natural light from the south-facing picture window, and genuine hardwood flooring in the living and bedrooms. A barn door in the master bedroom lets you create one larger bedroom or two smaller rooms. The basement offers a separate entrance from the backyard and into a foyer. The basement is fully finished with updated LVP flooring, a huge living area, bedroom/bath and separate kitchen area. Enjoy the large, private, fenced yard including water feature- perfect for summer barbeques. New roof in 2019, New Furnace 2017 and new interior paint. Call (970) 534-5440 to schedule your private tour or click here for more information. 

 

 

BlogBuyersHousing MarketNOCO Real Estate January 14, 2022

Lumber Back Up

The price of lumber has jumped back up again and is adding to the cost of new home construction.

Over the past four months, lumber prices have nearly tripled, causing the price of an average new single-family home to increase by more than $18,600.

According to Random Lengths, as of the end of December, the price of framing lumber topped $1,000 per thousand board feet — a 167% increase since late August.

This most recent lumber price upsurge is due to a number of factors, including:

  • Ongoing supply chain disruptions
  • A doubling of tariffs on Canadian lumber imports into the U.S. market that increased price volatility
  • An unusually strong summer wildfire season in the western United States and British Columbia

Predictions on what lumber prices will do during 2022 are mostly pointing to even higher costs for home builders and ultimately, new home buyers.

BlogBuyersFort Collins Real EstateNOCO Real Estate December 20, 2021

Must-Haves and Nice-To-Haves Lists

This is a good time of year to separate your “Needs” from your “Wants”…

Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home.

A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.

Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.

Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.

These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.

Creating Your “Must-Haves” List

The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.

Here are some questions to ask yourself as you build your “Must-Haves” list:

  • Where do you want to live? (Be as specific as you can.)
  • What do you have now that you can’t live without?
  • What are you missing now that you may need for the next several years?

If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.

Creating your “Nice-To-Haves” List

While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.

Here are some questions to ask yourself as you build your “Nice-To-Haves” list:

  • What home upgrades are you willing to make?
  • What is something you’d like to do in your house more often?
  • What do you have in your current home that you love, but don’t need?

Searching for Your Next Home

These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.

BlogFort Collins Real Estate October 27, 2021

Seller Facts

 

Here are some fun facts about recent home sellers. This research comes from the National Association of Realtors survey of home buyers and sellers:

  • 10 years = the average time recent home sellers have lived in their home. This number has remained essentially unchanged for the last ten years. From 1987 to 2007 the average was 6 years.
  • 89% = the percentage of home sellers who use a Realtor to help sell their home. This has been trending higher over the last 20 years. In 2001, 79% of home sellers used a Realtor. As the transaction gets more and more complex, more sellers seek the help of a Realtor.
  • 75% = the percentage of home sellers who found their Realtor through a personal relationship as opposed to seeking out an agent they didn’t know.
  • 77% = the percentage of home sellers who only interviewed one Realtor for the job of selling their home.