Price Plummet

For anyone waiting for home prices to drop before making a buying decision, there is good news.

The recent plummet in mortgage rates means that home prices, effectively, just took a big dip.

Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less today than what it would have been at the end of October.

For example, the Principal and Interest payment for a $500,000 loan is $341 less today than what it was 45 days ago.

So, from a buyer’s perspective, prices have gone down by 10% in a very short time.

The post Price Plummet appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Price Plummet

For anyone waiting for home prices to drop before making a buying decision, there is good news.

The recent plummet in mortgage rates means that home prices, effectively, just took a big dip.

Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less today than what it would have been at the end of October.

For example, the Principal and Interest payment for a $500,000 loan is $341 less today than what it was 45 days ago.

So, from a buyer’s perspective, prices have gone down by 10% in a very short time.

The post Price Plummet appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Inventory in Perspective

A significant dynamic in the Front Range market is the relatively low inventory. This is the main reason why prices are stable despite higher rates.

Here is some perspective on the inventory of homes for sale to help give some context.

Today’s inventory is:

  • Half of the long-term average going back 30 years
  • ¼ of the all-time high in 2006
  • 3 times the all-time low of 2021

The post Inventory in Perspective appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Most Surprising News

The most surprising piece of news for our friends and clients is that prices are essentially flat compared to last year.  People find that surprising given what interest rates have done over the last 18 months.  They wonder, how could prices not fall significantly after interest rates jumped considerably? 

The answer is the fundamental economic lesson of supply and demand.

There is enough demand in the market for the current supply to keep prices stable even in an environment of higher rates.

Now that rates are (finally) trending down, it gives us even more confidence about the continued growth of real estate prices along the Front Range.

Here is a look at how home prices compare to one year ago:

Larimer County = Down 0.8%

Weld County = Up 3.4%

Metro Denver = Up 0.8%

The post Most Surprising News appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings November 2023

Welcome to 344 Tigercat Way, a stunning, immaculately cared for 3-bed, 3-bath townhome with a main floor study. The front of this home faces open space and the future 20-acre city park. Enter this home into soaring vaulted beauty with windows flooding the living space with natural light. The large living room flows into the dining area that opens to the kitchen with lovely brick accents, extensive granite counters, stainless steel appliances, gas range, roomy island, and a large dedicated pantry. The main floor also offers significant closet space and a mud room/drop zone off the 2-car garage. The upper level offers 3 generously sized bedrooms, 2 large bathrooms and conveniently placed laundry. The unfinished basement and crawl space allow additional storage, exercise room and/or the opportunity to finish as you see fit. A 4th bath can be added at the existing rough-in. Enjoy evenings on the gorgeous patio just outside the dining area for easy entertaining. Mosaic offers two swimming pools, a hot tub, walking trails, acres of open space, and soon will offer a beautiful 20-acre park. Mosaic is ideally situated 5 minutes to Old Town, Shopping, dining, Brewery Row, the extensive Poudre Trail, and convenient I-25 access. NO METRO TAX. Call (970) 430-9630 to schedule a private tour or click here for more information.

Katie Robinson | MLS# 999072

2131 Steele Street is a gardener’s Dream House! Come see the opportunity that awaits your green thumb. Many fruit trees; apple, peach, plum plus raspberries and blackberry bushes abound in this large backyard with garden beds and a green house! This beautiful 3 bedroom/2 bathroom home in the desirable Meadowlark subdivision located in Northwest Longmont has so much going for it. Bamboo flooring, updated kitchen cabinets, countertops and sink add to the charm. The bi-level design offers two separate living areas with lots of natural light. Downstairs family room has fireplace. Garage has space to work. Additional Inclusions are: Sail Shade over back deck, Electric Lawn Mower, Chest Freezer in garage, Greenhouse and outdoor table on deck. This location is walking distance to Garden Acres Park and McIntosh Lake, as well as an easy commute to Boulder and Lyons. No HOA! NEW ROOF scheduled to be installed week of November 6th. Call (970) 430-9630 to schedule a private tour or click here for more information. 

Katie Robinson | MLS# 999198

Discover 175 Halibut Drive, an exquisite ranch style home in Water Valley South showcasing 3 bedrooms and 3 bathrooms. This home has been updated throughout and will not disappoint. The main level includes a separate office with double doors ideal for remote work or personal projects. The living room is adorned with a charming fireplace, creating a warm and cozy ambiance perfect for intimate gatherings. The finished basement includes a wet bar and offers the perfect space to spread out or gather to watch an exciting sporting event. The outdoor living area boasts mature perennial landscaping that envelops the meticulously maintained exterior, creating a serene and inviting atmosphere. For the golf enthusiast, the oversized 2-car garage is uniquely designed to accommodate a golf cart or provide extra space for work benches. Situated in a coveted community offering access to pristine lakes, parks, and world-class golf courses, this home truly epitomizes the essence of luxurious, year-round resort-style living. Call (970) 401-0123 to schedule a private tour or click here for more information.

Rondi duPont | MLS# 999345

4502 Espirit Drive is a beautiful home on a permanent foundation in the Sunflower active adult community with great updates! Truly move-in ready, this home features fresh interior paint throughout and new LVP in the living area and new carpet in the bedrooms & office. You will love the large kitchen with newer stainless steel appliances and updated cabinets. The primary bedroom is spacious with dual walk-in closets. Work comfortably in the roomy private office/den. Enjoy time outside on the private patio off the primary bedroom and a gate leading to the open space near the clubhouse. Call (970) 646-3035 or (970) 889-3796 to schedule a private tour or click here for more information.

Aaron Pearson & Caleb Cheshier | MLS# 999278

1802 Deep Woods Lane features a wonderful livable floorplan, with vaulted ceilings and open spaces. Enjoy the spacious kitchen with a gas range, upgraded cabinetry, and warm colors. 3 bedrooms on the upper level, with a large primary bedroom and granite counters in the primary bathroom. There is a 4th guest suite with lots of light, perfect for an office or additional bedroom. Unfinished basement space for storage. Inviting backyard and deck for entertaining. This home is open, filled with light, and ready for you! Currently leased at $2650 through July 2024, ask listing agent for details. Call (970) 673-7285 to schedule a private tour.

Paul Hunter | MLS# 999437

1036 Ponderosa Drive is a West Fort Collins home on a great lot with updates! Close to the CSU campus, bus lines, grocery shopping, and Horsetooth reservoir and all that has to offer! Ranch style plan with some updated features in the kitchen and baths, and a great backyard. 2 car garage, and a really great floorplan make this a great rental property or home to live in. Currently leased for $2500 per month through July of 2024, contact listing agent for details! Call (970) 673-7285 to schedule a private tour or click here for more information.

Paul Hunter | MLS# 999552

2793 Vallecito Street is a meticulously cared for home, in an ideal location, with minimal maintenance could be yours by the New Year! Located near the water’s edge, this home offers a spacious and open floor plan with ample room for entertaining. The main floor features a beautiful kitchen with abundant natural light. The primary suite has oversized vaulted ceilings, and an expansive bath that opens into the laundry room. Guests can enjoy their own private quarters with a spacious bedroom and full bath, separate from the primary bedroom. The basement has an additional bedroom and bath, a rec room, and an enormous storage room perfect for additional items or could be tastefully finished out for additional living space. From the privacy offered on the patio, to the elegant main floor design, this home offers peace and tranquility year-round. To schedule a private tour, call (970) 581-5358 or click here for more information. 

Tiffany Burns | MLS# 999675

1004 35th Avenue is an adorable updated 2 bed 1 bath cottage with Commercial Low zoning. This home has potential as a primary residence with or without small scale commercial activity. The home experienced a remodel in 2019 which included updates in the bathroom, the kitchen cabinets with quartz countertops, tiled floor, stainless steel appliances and a subway tile backsplash, as well as the roof, windows, interior paint, doors, hardware, refinished wood flooring and fixtures. The lot features a large, paved parking area with alley access. So many possibilities….don’t wait on this one! Call (970) 396-6964 to schedule a private tour or click here for more information.

Shari Moran | MLS# 1000030

The post New Listings November 2023 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Highly Active

In addition to tracking the average price for sold properties, it is also interesting to track the average price for active properties.

Asking prices are up across all markets when compared to the same time last year.

Here are the average list prices for residential properties along the Front Range:

  • Larimer County = $893,000 (8% higher than last year)
  • Weld County = $702,000 (6% higher than last year)
  • Metro Denver = $847,000 (5% higher than last year)

These asking prices are higher than average sales prices by approximately 30%. This is because there are many high-end properties on the market which take longer to sell and which pull up the average.

The post Highly Active appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

A Rate-Induced Pop

The recent drop in mortgage rates triggered a measurable uptick in sales activity.

So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year.

This is despite interest rates being higher than they were last year.

Mortgage rates just had their biggest one-week drop in over a year and buyers clearly responded.

Pending sales through November so far are up versus last year:

48% in Larimer County

20% in Weld County

The post A Rate-Induced Pop appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

MOI is Still LOW

Despite decreased buyer activity driven by normal seasonal patterns plus higher interest rates, the key stat of Months of Inventory continues to stay relatively low.

Months of Inventory (MOI) is the simple measurement of how long it would take to sell the current inventory of homes for sale at the current pace of sales.

Along the Front Range, this stat ranges from roughly 2 ½ months to just over 3. A market is considered ‘balanced’ when there is 4 to 6 months of inventory for sale.

Here are the specific numbers for Front Range markets:

Larimer County = 3.1 Months

Weld County = 2.7 Months

Metro Denver = 2.4 Months

The post MOI is Still LOW appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings October 2023

Welcome to your new home in Alford Meadows! Nestled on a peaceful cul-de-sac, 4955 Hornbeam Ct offers the perfect blend of comfort, style, and convenience. With its inviting features and desirable location, this property is a must-see for anyone seeking their next home. This home boasts a generous floor plan with ample space for family living and entertaining. The open-concept design creates a seamless flow between the living room, dining area, and kitchen, making it the perfect setting for gatherings. The well-appointed kitchen is a chef’s dream, equipped with stainless steel appliances, granite countertops, and an island with seating. Cooking and meal prep become a joy in this space. The master bedroom is a serene retreat with its en-suite bathroom and walk-in closet. In addition to the master suite, there are three more bedrooms, providing plenty of room for family members, guests, or home office space. Step outside to a lovely backyard with a patio, perfect for summer barbecues and al fresco dining. The fenced yard offers privacy and space for gardening or outdoor play. The attached garage not only provides convenient parking but also offers extra storage space for all your tools and equipment. Call 970-703-4112 to schedule a private tour.

Karla Laferriere | MLS# 997542

Nestled in the scenic landscape of Loveland, this meticulously cared for 2-bedroom, 3-bathroom Townhome lives spaciously among its three levels. Upon entry, be greeted by a bright open layout, leading into your recently updated kitchen. The kitchen showcases Blue Pearl granite countertops, stainless steel appliances, and two pantries. Retreat to the master suite, complete with not one but two closets and a large en-suite bathroom with a soaking tub and a separate shower. The upper level is finished off with an additional bedroom, full bathroom and loft space that would make a great home office, playroom, or library – whatever caters to your unique lifestyle. An attached and OVERSIZED 2-car garage ensures your cars are protected and storage or hobby needs are well met. Ceiling fans have thoughtfully been installed in each room to provide efficient cooling and comfort. The main level received a fresh coat of paint in December 2022, while the upper level was treated to a new paint job in September 2023, ensuring a pristine and welcoming environment. The exterior of the home was freshly painted in the summer of 2023, enhancing curb appeal, and protecting your investment. Don’t miss this opportunity to reside in a community that is both serene and vibrant. The nearby park, walking trails, and frequent community events ensure there’s always something to look forward to. 3230 Springfield Dr. is more than just a house; it’s a place to craft lasting memories. Call (970) 214-9479 to schedule your personalized tour today or click here for more information.

Heather Patel | MLS# 997533

Welcome home to 2793 Vallecito Street! This is what you have been waiting for in Wild Wing. Located near the water’s edge, this home offers a spacious and open floor plan with ample room for entertaining. The main floor features a beautiful kitchen with an abundance of natural light. The primary suite has oversized vaulted ceilings and an expansive bath that opens into the laundry room. Guests can enjoy their own private quarters with a spacious bedroom and full bath, separate from the primary bedroom. The basement has an additional bedroom and bath, a rec room, and an enormous storage room perfect for additional items or could be tastefully finished out for additional living space. From the privacy offered on the patio to the elegant main floor design, this home offers peace and tranquility year-round. To schedule a private tour, call (970) 581-5358 or click here for more information. 

Tiffany Burns | MLS# 997887

Downtown Fort Collins Living on the most desirable street in Old Town. Welcome to Historic Mountain Ave! Just a short walk away from City Park, Beaver’s Market, Little on Mountain, and Old Town Square you won’t find a better location than this! 1013 W Mountain Avenue is a well maintained single story home is ready for you to move in. New exterior and interior paint, carpet, roof and sewer line. Other features include hickory hardwood flooring in living room & kitchen, plenty of natural light and a primary bedroom with french doors leading to your private backyard and detached 2 car garage. There is extra space for storage with the unfinished basement and shed as well. Call (970) 215-1573 to schedule a private tour or click here for more information.

Brandon Bidwell | MLS# 997907

Welcome home to 4364 Prairie Trail Drive, your quiet oasis offering the perfect combination of charm, comfort, and sophistication with updates galore. Backing up to a tranquil open pasture and nestled between reservoirs, this rare 3 bed, 2.5 bath home is move-in ready with high ceilings, endless natural light, and stunning views. Lovingly maintained, you’ll enjoy the cozy feeling you get from the gas fireplace and all the thoughtful updates; kitchen counters with deep workstation sink, 5-panel solid doors, smart lighting features, smart thermostat, fresh paint inside and out, custom window treatments, updates to primary bathroom, powder room and creative touches throughout. In the fully fenced-in backyard, enjoy the patio, gazebo or garden while relaxing or grilling out. Tranquility awaits. Call (970) 430-9630 to schedule a private tour or click here for more information. 

Katie Robinson | MLS# 998051

default

Welcome to your dream home in the prestigious Steeplechase neighborhood! 5341 Peak View Drive is situated on a sprawling 2.4-acre lot, this magnificent property boasts breathtaking unobstructed panoramic mountain views from every window! With 6 bedrooms, 5 bathrooms, and an office, this home offers ample space for your growing family. As you step inside, you’ll be greeted by hard surface flooring throughout the main level. The grand entryway and cathedral ceilings add an extra touch of elegance, making a statement from the moment you walk through the front door. The heart of this home is the chef’s kitchen, complete with 42 cherry cabinets, a huge granite island, and top-of-the-line stainless steel appliances, a 5-burner gas and double ovens. The finished basement is an entertainers dream, featuring a second fireplace and a home theater that will provide endless hours of fun and relaxation for you and your loved ones. And let’s not forget the 3-car garage, and for those in need of extra space, you’ll be thrilled with the 30X45′ outbuilding, complete with 12′ ceilings and 10′ garage doors. Whether you need a workshop, a place to store your recreational vehicles, or just more room to spread out. Step outside into your own private oasis where you can entertain guests or simply unwind after a long day on the back deck, complete with an enormous pergola and a hot tub that’s yours to relax in – a feature that truly sets this home apart. The manicured landscaping further adds to the beauty and curb appeal of this remarkable property. And here’s the best part – no metro district! Say goodbye to extra fees and enjoy the perks of living in this incredible community. Don’t miss your chance to own this exceptional home. Come and see for yourself the lifestyle and endless possibilities that await you! Call (970) 310-6999 to schedule a private tour or click here for more information.

Alexis Foster | MLS# 998362

Come see 312 A Street, a rustic farmhouse on almost an acre of land. It’s on the edge of Ault, CO! Only a 20-minute commute to Fort Collins! This property has a hay barn/stable, corral for horses, chicken coop, and plenty of room to build your new shop! This farmhouse has 3 bedrooms, and 2 bathrooms, with flooring that has been replaced recently throughout. This house is on city water and city sewer. Call (970) 775-8483 to schedule a private tour or click here for more information. 

Kyle Doerfler | MLS# 998733

5524 Chantry Drive is what you have been waiting for. From the second you arrive, you will notice the expansive corner lot, with stunning curb appeal and beautiful interior finishes. This home has everything you have been looking for. From the open concept kitchen and great room to the upgraded extended patio, this floor plan is sure to impress. The kitchen offers a massive island for entertaining, with double ovens, and tons of additional counter space. The basement bar offers additional room for entertainment and fun! This home offers three distinct sleeping areas for homeowners or guests. The main floor primary offers abundant space with a massive walk-in closet and full bath. There are two additional bedrooms on the main floor perfect for dual offices or guest quarters with another full bath. The basement offers two more bedrooms, both generous in size with a full bath. The abundant sunlight with beautiful mountain views from the patio displays the Colorado dream in all seasons. Call (970) 581-5358 to schedule a private tour or click here for more information.

Tiffany Burns | MLS# 998697

315 Alpert Avenue is a charming 2-bed, 2-bath home with classic appeal, recently renovated for modern comfort. This gem is located in a prime location just minutes from Old Town, offering the best of both worlds – old-world charm and contemporary living. The main floor features an open concept with great character. The fabulous kitchen showcases the brand-new SS appliances and butcher block countertops. The bonus room offers additional living space and great natural light. The spacious backyard with alley access is great for your four-legged friend and outdoor living. *Seller is willing to offer concessions to help with interest rate buydown.* You will not want to miss this Fort Collins charmer. Call (970) 889-3796 to schedule a private tour or click here for more information. 

Caleb Cheshier | MLS# 998664

Experience all the joy of owning a home without all the maintenance! Come see 2226 Copper Creek Drive Unit B, a beautifully remodeled duplex-style ranch townhome! This home greets you with an open floorplan, lots of natural light, 9′ ceilings, gas fireplace, and warm maple hardwood floors throughout! The kitchen has been completely remodeled with new cabinets, backsplash, and granite countertops! Don’t forget about the convivence of main floor laundry! Retreat to your spacious master bedroom with walk-in closet and recently remodeled bath with a large soaking tub! Enjoy relaxing on your private patio! The HOA covers exterior maintenance including roof, water, trash, lawn care, snow removal, insurance, and neighborhood pool! Radon has been mitigated. Call (970) 775-8483 to schedule a private tour or click here for more information. 

Kyle Doerfler | MLS# 998690

Amazing opportunity to purchase 4726 Westbury Drive, a 5 bed 4 bed ranch home conveniently located in Westbury under market value! Main floor primary suite, open concept kitchen/living area with gas fireplace leads to an ample eat in kitchen and formal dining room. Between the kitchen and garage entry, find a main floor laundry room with half bath and oversized pantry. Finished garden level basement with all brand new carpet includes a large living space with a second gas fireplace and lots of natural light. The living area opens to a dining area, kitchenette with full sized refrigerator, sink, countertop, built in cabinetry, and oversized storage/utility room with built in shelving. Around the corner you’ll find a full bath and two more bedrooms. This property does need some work, and is ideal for an investor or someone looking to make it their own. Call (970) 829-1914 to schedule a private tour or click here for more information.

Jared Sickels | MLS# 998829

Don’t miss the opportunity to settle in the desirable Timnath Ranch neighborhood at 7161 Silver Court! This stunning custom home sits on a quarter of an acre at the back of a cul-de-sac backing to open space. The two-story great room opens to a custom kitchen with dura-pro cabinets, soft close hardware, gas range, double ovens, and a large eat in kitchen. The oversized main floor master features a 5 piece master en-suite and extensive closet for all the storage you could want. A mudroom and separate laundry room are an organizers dream! With 3 bedrooms upstairs and one more in the basement there is room for everyone in this 5 bed 4 bathroom home. The community has walking trails, a pool, and a park. Bethke elementary in the PSD school district is located just 3 blocks away. Call (970) 402-7509 for a private tour or click here for more information.

Jacqueline Feil | MLS# 998867

The post New Listings October 2023 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Holding Steady

Despite a significant increase in the supply of apartments, rental rates are holding steady.

New research from Realtor.com shows that lease rates in the largest U.S. cities are down just 0.7% even though completions of apartment buildings are up 15% since 2022.

Denver’s average apartment lease rate decreased only 1.0% year over year and now stands at $1957 per month.

The post Holding Steady appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.