From Renting To Owning

According to a report by Fannie Mae, 74% of consumers plan to buy a home the next time they move. This included 43% of consumers that are currently renting. 

The interesting fact is that 9 out of 10 consumers overstated or didn’t know the minimum down payment required for most mortgage programs. The great news is that of those surveyed, 70% of the respondents said they were saving specifically for a down payment. 

Speaking with a lender is the first step to understanding the current mortgage requirements. Reach out to your Windermere agent for great lender recommendations.

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15-Year Mortgages

Interest rates have leveled off at around 7% over the last couple of months. Interestingly, the 15-year mortgage is a more reasonable 6.375% right now.

If you are looking for a lower rate and are willing to pay a higher monthly payment, this may be a good option.

The other benefit of a 15-year mortgage is that more of your payment is going toward the principal of your loan. So, on a $400,000 loan, you would reduce your principal loan amount by $16,500 in the first year of your loan.

This compares to a reduction of only $4,000 on a 30-year mortgage during that same period. If you can swing the higher payment, this may be the way to go.

The post 15-Year Mortgages appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

15-Year Mortgages

Interest rates have leveled off at around 7% over the last couple of months. Interestingly, the 15-year mortgage is a more reasonable 6.375% right now.

If you are looking for a lower rate and are willing to pay a higher monthly payment, this may be a good option.

The other benefit of a 15-year mortgage is that more of your payment is going toward the principal of your loan. So, on a $400,000 loan, you would reduce your principal loan amount by $16,500 in the first year of your loan.

This compares to a reduction of only $4,000 on a 30-year mortgage during that same period. If you can swing the higher payment, this may be the way to go.

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Fourth of July Slowdown

Showings during the week of the 4th is one of the slowest periods of the year. This data comes from home builders that track the number of potential Buyers that visit the model homes.  

This same trend is shown in showing data for resale homes. This trend usually only lasts for the week, though, and showings tend to pick back up the second week of July.

The good news is that the buyers that are looking during this week are typically quite serious about finding a home.

We at Windermere hope you have a fun and safe Independence Day holiday weekend!

The post Fourth of July Slowdown appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Fourth of July Slowdown

Showings during the week of the 4th is one of the slowest periods of the year. This data comes from home builders that track the number of potential Buyers that visit the model homes.  

This same trend is shown in showing data for resale homes. This trend usually only lasts for the week, though, and showings tend to pick back up the second week of July.

The good news is that the buyers that are looking during this week are typically quite serious about finding a home.

We at Windermere hope you have a fun and safe Independence Day holiday weekend!

The post Fourth of July Slowdown appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings June 2024

Situated in the certified wild community of The Lakes at Centerra, 2762 Cub Lake Drive is a 3-bedroom patio home that combines modern living with comfort and convenience. This home has been meticulously maintained. The open-concept living area features beautiful hardwood floors and abundant natural light. The modern, functional kitchen is equipped with top-of-the-line appliances, ample counter space, and a center island, making it ideal for entertaining. The master suite offers a serene retreat with a spacious walk-in closet and a luxurious en-suite bathroom with a large walk-in shower. Rounding out your main floor living space you’ll find a second bedroom with en-suite bathroom featuring a nice soaking tub suitable for guests or a home office as well as a powder room and a laundry room. The expansive walk-out basement includes a large multi-purpose family room/rec room, an ample sized bedroom and a bathroom. Don’t miss the unfinished space for storage. Step outside the walk-out basement and enjoy relaxing on the extended concrete patio, or take advantage of the other outdoor living areas including the lovely front porch or the covered deck adjacent to the great room. The HOA takes care of the lawn and snow removal so you have more time to enjoy all that this active community has to offer including long walks around the lakes or just a short stroll down to the community gardens. Conveniently located to shopping, restaurants and schools, don’t miss the opportunity to make this house your home! Call (970) 703-4112 to schedule a private tour or click here for more information.

Karla Laferriere | MLS# 1011307

325 Del Clair Road is a move in ready home on over 1/4 acre corner lot in Central Ft Collins! Beautiful hardwood flooring and fresh interior paint welcome you as soon as you enter the home. You’ll appreciate the open concept with a kitchen that features granite counters, updated cabinets and backsplash. The basement has new carpet and gives you a 23′ x 17′ rec room, full bath, 2 more bedrooms and a flex room for office space, storage or whatever else you may need. Out back there is a large covered patio for outdoor living and Summer BBQ’s. Call (970) 215-1573 to schedule a private tour or click here for more information.

Brandon Bidwell | MLS# 1011268

Welcome to 3598 Moore Court. Located in the popular Applewood Estates, this oasis in the city has a park-like setting of .33 acres of fully fenced property filled with mature trees and spaces to enjoy. This wonderful ranch features 4 bedrooms and multiple outdoor spaces to enjoy including an extended covered porch, sunroom, patio, and lovely pergola-covered space. The family room has brand new floors and the basement just had new carpeting installed. A detached studio space can be used as an office. Easy access to downtown Denver. Call (970) 215-1013 to schedule a private tour or click here for more information.

Maria Dellota | MLS# 1012070

Welcome to 5223 Union Court #4. Quiet and comfortable, this 2 bed/3 bath townhome is located in the Hideaway at Rainbow Ridge. There is plenty of natural light in the vaulted living/dining area. Updated kitchen features granite countertops, updated backsplash and stainless steel appliances. Head upstairs to check out the loft space which easily lends itself to an exercise area or office. The primary bedroom is spacious with an en-suite bathroom. Additional bedroom and bathroom in the basement create another private space ideal for visitors. Call (970) 215-1013 to schedule a private tour or click here for more information.

Maria Dellota | MLS# 1012067

1522 Linden Way is nestled on a cul-de-sac in the highly desirable golf community of Vista Ridge steps away from one of the neighborhood parks. This home has lots of finished sq ft. to enjoy. Basement could be used as 5th bedroom. Enjoy playing golf at Colorado National Golf Club and take advantage of the 2 neighborhood pools and clubhouse in the summer. New roof in 2023, Newer exterior paint and updated kitchen in 2017. Sellers offering $2800 in concessions for hardwood floor refinish or can be done before closing. This home also comes with a 1yr 1st American Home Warranty. Call (970) 420-4498 to schedule a private tour or click here for more information.

Lindsey Crisanti | MLS# 1007366

Enjoy living in one of Louisville’s most coveted neighborhoods, the Saddleback subdivision. This community backs up to expansive open space, providing you with uninterrupted views and no neighbors directly behind you. 531 W Arrowhead Street boasts three bedrooms and three bathrooms, perfect for a range of family sizes or those who enjoy hosting guests. Solid wood floors grace the main level, complemented by a cozy fireplace that adds warmth and character to the living area. The home has been thoughtfully updated, featuring a newly remodeled kitchen and all-new interior paint throughout, creating a fresh and inviting atmosphere. The newly remodeled bathrooms add a touch of elegance with contemporary fixtures. For year-round comfort, the house offers both air conditioning and a whole-house fan, ideal for those warm summer nights. Practical updates like a newer water heater ensure peace of mind. Location-wise, you couldn’t ask for more. Top-rated schools are nearby, and you’re just under a mile from the Recreation Center. Enjoy the vibrant community spirit of Old Town Louisville with its charming shops and restaurants, just a short distance away. Outdoor enthusiasts will appreciate the proximity to Coyote Run Open Space and the extensive network of parks and bike trails. This home truly offers the best of Louisville living. Call (970) 310-6999 to schedule a private tour or click here for more information. 

Alexis Foster | MLS# 1012024

1072 Little Grove Court is too good to pass up! Elegant home in SW Longmont, 15 minutes from Boulder. Bike or walk to highly-rated schools, trails, playground, dog park, and open space in many directions. This home has it all, a huge upgraded kitchen with full height cabinets and lots of counterspace. Amazing island with fabulous granite countertops, SS appliances & large pantry are just a few of the special touches this home boasts. Natural light pours in adding to the already charming ambiance. The mudroom area off the 3-car tandem garage and the large office in the front of the house round out the main floor. There is a bright and airy loft to provide another living area in addition to the 3 bedrooms, 2 full baths and handy laundry room that make up the 2nd floor. If that weren’t enough, the backyard is an entertainer’s dream. A large patio provides room to mingle or relax surrounded by the seclusion trees, bushes & a privacy fence provide. The basement is just waiting for your finishing touches or an ample space for storage. No Metro Tax! Seller has 2 appraisals in hand for over list price, instant equity! Call 970-430-9630 to schedule a private tour or click here for more information.

Katie Robinson | MLS# 1012035

Welcome home to 22674 E Henderson Drive, a popular Toll Brothers Lindsay model. Located in the desirable Hilltop at Inspiration (55+) neighborhood. Embark on a new chapter or adventure including a lifestyle defined by endless trails, picturesque parks, a community pool & a calendar brimming with seasonal events! This classy, immaculate home hosts a gourmet kitchen, large island, an open floor plan, 3 bedrooms, high ceilings and lovely back patio which has open space behind and to the east. Call x to schedule a private tour or click here for more information. 

Katie Robinson | MLS# 1012098

Waterfront and Midtown. You don’t often find those words together in Fort Collins. 2408 Rosewood Lane is an end-unit home & has high ceilings, hardwood floors throughout, and numerous windows, which compliment the open floor plan. The kitchen features stainless steel appliances, granite countertops, and under-cabinet lighting. Take advantage of one of two fireplaces in the home in the living room. A sliding glass door connects inside to outside so you can take advantage of your waterfront view & enjoy the mature landscaping and patio. Both the main-level and upper-level bedrooms have their own ensuite bathrooms. The loft makes for a great office space with its own fireplace. Take advantage of the prime location of this great home – it’s an easy walk or short bike ride to shopping and restaurants. Call (970) 215-1013 or (708) 557-1769 to schedule a private tour or click here for more information.

Maria Dellota + Spencer Smith | MLS# 1012593

Embrace the serene mountain lifestyle at 157 Crestone Way, a beautiful 4-bedroom, 3-bathroom home nestled in the breathtaking landscapes of Livermore, Colorado. With almost 2,000 square feet of living space, this property offers a perfect blend of modern amenities and rustic charm, set against Colorado’s stunning natural scenery. The interior of this home features a spacious, open floor plan that seamlessly connects the living room, dining area, and kitchen, ideal for both entertaining and everyday living. Warm, inviting colors and natural wood finishes throughout the home create a cozy, cabin-like feel. The brand-new primary bedroom includes an en-suite bathroom and generous closet space, providing a private retreat. Three additional bedrooms offer flexible space for guests, a home office, or additional family members. Outside, the property boasts expansive views of the surrounding woodlands and mountains, with ample outdoor living spaces to enjoy the view. The natural landscape requires minimal upkeep, allowing more time to enjoy the peaceful outdoors. This home is ideally situated for those who love the outdoors, with easy access to hiking trails, wildlife viewing, and other recreational activities. Enjoy this amazing home year-round or as a weekend cabin. The community offers 3 stocked fishing ponds for residents and their guests to enjoy (without a fishing license) as well as road plowing and maintenance! Located in Livermore, just a short 40-minute drive from Fort Collins, this home combines the tranquility of rural living with convenient access to city amenities. Enjoy ample parking for cars, boats, or an RV/Camper with 220V plug-in and grey water/sewage clean-out access! Home features a radon system, 2 newer water heaters, and LifeProof Flooring on the Main level (water/pet proof, sound-deafening). 157 Crestone Way offers a unique opportunity to own a slice of Colorado paradise. HOA fee includes water, sewer, trash, and road snow removal and maintenance. Call (970) 331-2868 to schedule a private tour or click here for more information.

Kailee Harvey | MLS# 1012446

Mountain Views!!! Great Location!! You do not want to miss 537 S 9th Street, a single family home in the lovely town of Berthoud! This home is situated on .37 of an acre with RV parking and those beautiful mountain views, which are visible from the 3 upstairs bedrooms! No metro district and no HOA! Walking distance to Berthoud High School! This home features, 4 bedrooms and 3.5 bathrooms. The main level is complete with an updated, functional kitchen, a large family room, a formal dining room, living room, powder room, a breakfast nook and a beautiful sun room perfect for your morning coffee! The second story includes the primary bedroom, 2 additional bedrooms, a bathroom and a conveniently located laundry room. The primary bedroom is a lovely retreat with an ensuite bathroom, a walk-in closet and a balcony to enjoy the beautiful Colorado sunsets! The finished, walk-out basement contains a rec room, 4th bedroom, a full bathroom, a bonus room and you don’t want to miss the most charming hidden room! Expand your living space with multiple outdoor sitting areas where you will enjoy the beautifully landscaped yard with easily maintained perennial flower gardens! Enjoy short walks to Hillsdale Park Natural Area or to Bein Park for recreation, or take a longer walk into the heart of Berthoud! You will surely want to make this charming house and neighborhood your home! Call (970) 703-4112 to schedule a private tour or click here for more information. 

Karla Laferriere | MLS# 1013136

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Ninety Eight Percent

Properties in Northern Colorado sell for 98% of their list price on average.

This single statistic communicates two interesting facts about the market.

First, this is not a market full of desperate sellers who are willing to accept low ball offers.

Second, properties that are priced right are the ones that are selling.

So, if a seller has an appropriate price, they can expect to receive an offer very close to the list price.

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Inventory Solstice

There is a significant transition that is taking place in the Northern Colorado market.

There is now more inventory on the market at this time of year than at any time since 2020.

2020 marked a turning point in the market where both interest rates and inventory plummeted.

For many years, the market has been working to get back to pre-COVID levels of inventory. 

It finally happened.

However, inventory is still well below 2017, 2018, and 2019 levels.

This means there is nothing resembling a ‘glut’ of inventory.

But, this milestone is significant.

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Mid-Month Check-In

Here is a look at the Northern Colorado market halfway through June compared to the same time last year.

Inventory is climbing at a healthy rate in both Larimer and Weld County giving more options for buyers.

Larimer County inventory is up 18% and Weld’s is up 13%.

Meanwhile, sales are down slightly which is not surprising because interest rates have been slightly elevated until very recently.

These two factors have caused months of inventory to increase. But, this very important statistic is still measuring below 3 months in both Larimer and Weld Counties, demonstrating there is sufficient demand for the current supply.

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Not Delinquent

As a sign of the overall health of the U.S. real estate market, single-family mortgages that are ‘seriously delinquent’ only represent 0.51% of all single-family mortgages.

This percentage is lower than last month and lower than last year.

A mortgage is considered ‘seriously delinquent’ if it is more than 90 days past due.

To put the current rate in perspective, in February 2010 5.6% of single-family mortgages were seriously delinquent.

So, today’s number is roughly 10% of the worst time of the housing bubble.

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