Way Under

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The Nation’s real estate market is significantly under-supplied.According to the most recent research from Freddie Mac, the United States has a housing supply deficit of 3.8 million units.The available inventory today is lower than it has ever been in the last 40 years and is 3.5x lower than the peak of 2008.The reason why available inventory is so low, is the low amount of new home starts that have occurred over the last 15 years.Builders have faced many obstacles trying to keep up with housing demand including supply chain issues, labor supply, land availability, water availability, and stricter approval processes.Fewer new homes were built in the decade ending 2018 than any other decade since the 1960’s.The reality is, the obstacles builders face are unlikely to change significantly in the foreseeable future.Low inventory is likely to persist.An under-supplied market is a key reason leading economists do not expect home prices to crash even while the market cools off.

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Mis-Led

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The most misleading stat about the housing market is increase in inventory. The number of properties for sale is up significantly compared to last year.  In most locations along the Front Range, inventory has doubled.This is obviously great news for buyers because they now have more choice.This is obviously meaningful for sellers because they now have more competition.But, it does not mean there is a glut of inventory.  It does not mean that we are now, all of a sudden, over-supplied.Quite the contrary.  The market is still undersupplied.  There would need to be at least double the amount of homes for sale for Front Range real estate to begin to be balanced.The increase in inventory, being so large, gets a lot of attention in the media and can sometimes be taken the wrong way.Yes, inventory has doubled.  But, it has doubled compared to all time lows.Freddie Mac reports that Nationally, the market is undersupplied by 3.8 million housing units.So, the increase in homes for sale is a good thing for the market and is nothing like a glut of inventory.

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New Listings November 2022

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Looking for a home in a great location with a little extra elbow room? This is it! 6739 Brittany Drive is a beautiful 3 bedroom 2 bathroom home located in Provincetown. Situated on a approximately 1/4 acre corner lot and mature landscaping, the back yard boasts built in garden beds with irrigation, a compost bin and storage shed perfect for the gardener in the home! The home has an open floor plan and LVP flooring on the main floor ideal for entertaining. The primary bedroom has a full bathroom and a walk in closet. The one car attached garage has a loft and work bench included for the owner that likes to tinker! Seller is offering a $5000 credit to help with rate buy down and a First American 1 year home warranty. Call (970) 401-0123 to schedule a private tour or click here for more information.

Rondi duPont | MLS# 978194

Don’t miss this rare opportunity to live in a highly desirable location just outside of Windsor! 32593 Stagecoach Road is situated on nearly 3 acres in a quiet neighborhood, this well-maintained, exceptionally built home is for you. As soon as you walk in the front door, you’ll love the open floor plan with high ceilings and wood floors. This home boasts a huge primary bedroom with a 5-piece bath, 3 additional bedrooms, and a loft! The updated kitchen with granite countertops is perfect for entertaining. You will enjoy beautiful mountain views from the peaceful back deck. In addition to the oversized 3-car garage, you’ll love the large shop with wood burning stove, 220v, sliding doors, built-in air compressor line, and loft for storage. Up to 3 horses allowed on property. Non-potable water included in HOA fee. Listing agent is related to the seller. Call (970) 420-2199 to schedule a private tour or click here for more information. 

Cameron Rutz | MLS# 978241

42 Tracy Trail Road is a well-maintained home on 2.24 Acres with an oversized, attached 2 car garage and ample opportunity still to build upon. There is plenty of level property to put up a large outbuilding for all your toy storage. Fully fenced back yard with a nicely covered deck to enjoy all the beauty of the Big Thompson Canyon from. Inside there is a fireplace in the living room and a wood stove in the study as well as forced air heating to keep you warm in the winters. This home and property have been very well cared for and it’s just outside the flood plain (according to IRES map’s overlay). The house has not suffered from flood damage. Call (970) 215-1573 to schedule a private tour or click here for more information.

Brandon Bidwell | MLS# 978187

VIEWS VIEWS VIEWS! 0 Dory Hill Road Lot 46 is a gorgeous lot with stunning views in Aspen Springs! Build your dream home and enjoy your privacy just outside of Black Hawk with easy road access. Only 10 minutes to downtown Black Hawk and 25 minutes to I-70. There are no utilities. Licensed real estate agent to accompany buyers on all showings, no sign at property. Call (970) 541-4802 to schedule a private tour or click here for more information.

Natalie Parsons | MLS# 978530

4538 Quest Drive is a beautiful home in the Sunflower active adult community on a corner lot with an inviting private backyard patio. This home has wood floors in the kitchen & living area which enhance the open floorplan. Enjoy the large kitchen with stainless steel appliances and a ton of cabinet space. The master bedroom is spacious with dual closets. The secondary full bathroom includes a walk-in tub! The backyard is low maintenance with a large covered patio, a gardening bed and beautiful stone pathways. Call (970) 646-3035 to schedule a private tour or click here for more information.

Aaron Pearson | MLS# 978542

2518 Fairplay Drive is a large mid-1970’s contemporary, brick ranch-style home in the popular Park Hill subdivision with NO HOA. The home sits on a large, 8,300 SF lot with a large shed for extra storage. The main floor boasts beautiful hickory floors with three bedrooms and two baths, large living room, den, dining room and kitchen with breakfast nook area. The basement is just over 85% complete with a sizable family room, office space, and a third bathroom. Also included is a non-conforming bedroom that could be perfect as a workout area/gym, craft room or den. The crawl space has recently been fully encapsulated. This home’s classic structure and great bones are just waiting for new owners to bring their ideas. Brand new Navien boiler and tankless hot water system installed November 2022. Call (970) 691-0056 to schedule a private tour or click here for more information.

Meagan Griesel | MLS# 978343

Welcome home to 921 Emerald Drive, a real ‘gem’ right in the heart of Windsor and just minutes from the growing downtown, restaurants, schools, the new Future Legends sports complex and more! Be sure to check out this amazing opportunity to own a five bed, three bath ranch in Cornerstone subdivision with no metro district and a great chance to make this your own. The main level features a welcoming living room with a fireplace and hardwood floors throughout, a skylight and an open floor plan as well as three bedrooms two bathrooms and one of two laundry rooms. Step downstairs into the finished basement where you will find a spacious rec room, a bathroom, two additional bedrooms and a second laundry room (previously used for salon hair services). This home features great outdoor spaces with covered patios and sprinkler systems (already blown out for winter) in both the front and back! The front patio is ready for you to hang a nice front porch swing and the covered back patio ready for year-round enjoyment. Call (970) 497-9045 to schedule a private tour or click here for more information.

Meaghan Nicholl & Mike Halloran | MLS# 978854

227 Egyptian Court is a BEAUTIFULLY remodeled home in south Fort Collins! Upgrades throughout include full kitchen and bathroom upgrades, wood floors, and radiant heat in the master bathroom. Lighting and plumbing fixtures updated. Cozy living room with fireplace, and open floorplan. Grand two-story ceilings in the front family room welcome you to your own private sanctuary. The backyard is immaculately landscaped with private hot tub for relaxing. This gorgeous home is available for you to move into today! Call (970) 673-7285 to schedule a private tour or click here for more information.

Paul Hunter | MLS# 978846

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Bargaining Power

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Buyers (finally) have more bargaining power.  For many, many months sellers had the distinct upper-hand and commanded above-list price offers.  Bidding wars were the norm.  Buyers had virtually no negotiating power.The numbers show that the dynamic has absolutely changed.The ratio of the final sales price to the list price is now at 98.1%.From April 2020 to July 2022, the ratio was at or higher than 100%.The peak was in April 2022 at 104.3%.In the span of just a few months, sellers have gone from multiple, over-list price offers to expecting to come off their list price.

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Bargaining Power

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Buyers (finally) have more bargaining power.  For many, many months sellers had the distinct upper-hand and commanded above-list price offers.  Bidding wars were the norm.  Buyers had virtually no negotiating power.The numbers show that the dynamic has absolutely changed.The ratio of the final sales price to the list price is now at 98.1%.From April 2020 to July 2022, the ratio was at or higher than 100%.The peak was in April 2022 at 104.3%.In the span of just a few months, sellers have gone from multiple, over-list price offers to expecting to come off their list price.

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Inflation and Housing

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Yesterday’s Consumer Price Index report for October showed a lower-than-expected increase in inflation.  Many believe, based on the numbers, that inflation rates may have peaked.  Investors cheered and the stock market showed its biggest increase since bouncing back from the pandemic-caused bear market in 2020.So, what does yesterday’s news mean for housing in the short term?
  • Higher real estate consumer confidence as fears of inflation will likely subside and people will feel wealthier as their investment accounts rebound
  • Lower mortgage rates because they track the yield on the 10-year treasury which has fallen over 8% since Friday 
Yesterday’s news certainly is a positive for Front Range real estate.

The post Inflation and Housing appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Inflation and Housing

/in , , , , /by
Yesterday’s Consumer Price Index report for October showed a lower-than-expected increase in inflation.  Many believe, based on the numbers, that inflation rates may have peaked.  Investors cheered and the stock market showed its biggest increase since bouncing back from the pandemic-caused bear market in 2020.So, what does yesterday’s news mean for housing in the short term?
  • Higher real estate consumer confidence as fears of inflation will likely subside and people will feel wealthier as their investment accounts rebound
  • Lower mortgage rates because they track the yield on the 10-year treasury which has fallen over 8% since Friday 
Yesterday’s news certainly is a positive for Front Range real estate.

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A Numbers Game

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Here’s a fun fact. Generally speaking, a Seller should expect to have between 8 and 13 showings before receiving an offer.

The exact number of course depends on price point and location.

So, how quickly a property sells depends upon how quickly those showings are generated.

The old adage of ‘it’s just a numbers game’ is true.

A certain number of people need to look at a home before someone makes an offer.

If a home isn’t generating showings, it is usually because the property is priced too aggressively, isn’t being marketed professionally, or both.

For a Seller to have a property sell along the Front Range, their simple mission can be to generate 8 to 13 showings.

The post A Numbers Game appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

A Numbers Game

/in , , , /by

Here’s a fun fact. Generally speaking, a Seller should expect to have between 8 and 13 showings before receiving an offer.

The exact number of course depends on price point and location.

So, how quickly a property sells depends upon how quickly those showings are generated.

The old adage of ‘it’s just a numbers game’ is true.

A certain number of people need to look at a home before someone makes an offer.

If a home isn’t generating showings, it is usually because the property is priced too aggressively, isn’t being marketed professionally, or both.

For a Seller to have a property sell along the Front Range, their simple mission can be to generate 8 to 13 showings.

The post A Numbers Game appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

New Listings October 2022

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8225 River Run Drive, a better than new Ranch Style Patio Home in River Run, awaits. The open floor plan welcomes you as soon as you enter. You will notice the enticing fireplace and kitchen perfect for entertaining! The main level and basement living area have been upgraded with LVP for a beautiful look and easy cleaning. The basement boasts extra room to spread out and entertain including, two additional bedrooms, a bathroom and a wetbar. The home backs to the Poudre Trail, giving the owner more privacy and elbow room. On sunny days, you can choose to relax on the front covered porch or the back covered deck. The two car garage is impeccable with built in shelving for extra storage. HOA takes care of the snow removal, lawn care and trash. This home has been exceptionally cared for inside and outside! Don’t pass this home up! Call (970) 401-0123 to schedule a private tour or click here for more information. 

Rondi duPont | MLS# 976363

812 W 35th Street is a freshly updated and bright tri-level home on a large lot in the heart of Loveland! Remodeled in 2021, this home features a gas fireplace, newer Anderson windows and new blinds, kitchen appliances, light fixtures, LVP flooring and A/C. The almost 1/4 acre lot has mature trees, underground sprinkler system, a large storage shed and lots of privacy with no neighbors directly behind home. An oversized 2 car garage and no HOA complete the package! Walking distance to Benson Sculpture Garden, Lake Loveland, and nearby schools. Home is pre-inspected for your convenience and comes with a transferable Eagle Premier First American Home Warranty through 8/2023. Some furniture is negotiable, please ask listing agent for more information. Call (970) 541-4802 to schedule a private tour or click here for more information.

Natalie Parsons | MLS# 976473

475 Mount Belford Drive is a beautifully updated home with a fantastic layout. Large kitchen, lots of light, and wood floors. Covered patio provides a great space to enjoy the backyard. Partially finished basement with a bonus room! Easy access to all of northern Colorado and amazing finishes that make this THE home for you! Call (970) 673-7285 to schedule a private tour or click here for more information.

Paul Hunter | MLS# 976622

1911 Mahogany Way is a fabulous three-bedroom home in popular and affordable Severance! Nestled in the Timber Ridge neighborhood, you’ll step in the front door to abundant natural light, gorgeous Brazilian Pecan hardwood floors, modern finishes, and a cozy ambiance that says, “Welcome Home!” Explore the large, eat-in kitchen featuring stainless appliances, a walk-in pantry and plenty of cabinet space! Upstairs, you’ll find a large loft, primary suite and two additional bedrooms. Unfinished basement for tons of storage or future expansion! Relax or entertain on your raised composite deck — overlooking the huge, freshly landscaped backyard with trees. Brand new exterior paint and roof with transferrable warranty. No Metro District. Mineral rights are included. A beautiful home and amazing value! Call (970) 237-2752 to schedule a private tour or click here for more information.

Jon Holsten | MLS# 976837

Don’t miss your chance to own a great two-bedroom ranch-style home in central Fort Collins! 1901 Kingsborough Drive boasts an open floor plan, accentuated by the sprawling front room, separate dining area with large windows, vaulted ceilings and a cozy kitchen. You’ll find two bedrooms and a bath on the main level, and yet more living space in the mostly finished basement featuring a comfy rec room, full bath and a home office or finished storage area! Huge corner lot with mature landscaping and large trees; perfect for relaxing or entertaining on the front patio or giant covered deck in the backyard. Space for RV/boat/trailer parking. Newer fence, garage door and roof. This neat home with NO HOA has incredible potential with a little elbow grease, and is priced with improvements in mind. Close to schools, parks, bike trails, shopping, and the foothills! Call (970) 237-2752 to schedule a private tour or click here for more information.

Jon Holsten | MLS# 976838

Welcome to 3577 Dorshire Lane, a truly magnificent custom home built by Tree Line Builders and Tomlinson Design. This impressive 5 bed/6 bath ranch plan home with walkout lower level backs to the natural area separating the home from the 15th green and 16th tee box of The Harmony Club and is perfectly positioned to showcase the Rocky Mountain views. Peaceful, quiet setting backing to natural area and golf course. The remarkable roof line offers beautiful interior design. Meticulous detail and exquisite craftsmanship truly make this home a work of art. The floor plan was intricately designed to accommodate family living and entertaining spaces while providing secluded bedrooms and a warm feel throughout. Enjoy the expansive deck, while bringing the outdoors in with the seamless flow of the NanaWall. A private main floor primary bedroom awaits with its own fireplace, patio and views, steam shower, laundry room and expansive closet. Living room boasts a custom designed open air fireplace that will draw you in on those chilly Colorado days. Venture down to the lower level that displays an extension of the quality features of the main level showcasing a bar, spacious great room, fireplace, custom wine room, 3 additional bedrooms and plenty of accessible storage space. The blend of custom materials featured in this home along with an endless list of features including radiant heat throughout, reclaimed Tobacco wood floors, vaulted ceilings, custom wood beams and metal work, Smart Home, 3 separate decks, 13 foot kitchen island, 3 fireplaces, 2 laundry rooms and incredible wine room make this home a must see! Call (970) 310-4876 to schedule a private tour or click here for more information.

Kelly Swift | MLS# 976887

Welcome home to the Trailside. You will instantly fall in love with this beautiful end-unit townhome at 5772 Bourgmont Court. From the open floorplan to the tasteful finishes, homeowners and investors alike will be delighted with this turnkey property. The main floor offers a primary bedroom, powder bath, and laundry room with custom built ins. This home is better than new with blinds, appliances, and a custom-built drop zone. The oversized garage offers ample storage, and the exterior offers a side yard, in addition to the spacious enclosed patio off the front door. This is the unit you have been waiting for, come see for yourself. Call (970) 581-5358 to schedule a private tour or click here for more information.

Tiffany Burns | MLS# 976694

10731 E 151st Place is a beautiful home in Silver Springs! This well-maintained home greets you with vaulted ceilings and an open concept. Sit by the fireplace on those cool Colorado evenings. Retreat to your spacious master bedroom featuring walk in closet and master 5 piece bath. 2 additional bedrooms & a full bath round out the upstairs. Home is situated on 1.5 acre lot with extensive professional landscaping from Parade of Homes. Relax on your huge back deck while overlooking the mature trees, shrubs, garden & 10,000 sq ft yard. New roof 2019. New exterior paint 2018 new interior paint 2022. Updated designer kitchen, bathrooms & flooring throughout. Main floor laundry with utility sink off of 3 car garage. Only 10 minute drive to I25! Call (970) 775-8483 to schedule a private tour or click here for more information.

Kyle Doerfler | MLS# 6118836

7212 Brittany Drive is a gorgeous ranch-style home on a corner lot in the coveted Provincetown neighborhood! You’ll feel right at home as you’re greeted by beautiful finishes and upgrades throughout. From the fabulous wood floors to the high ceilings and tons of natural light, this home is simply beautiful. The gourmet kitchen includes granite countertops, stainless appliances, upgraded cabinets, plenty of storage and a huge pantry. Enjoy two large bedrooms, including the primary suite with luxury 5-piece bath, coffered ceiling and spacious walk-in closet. The private home office provides quiet work space, and can easily be converted to a third bedroom. Relax or entertain on the huge deck overlooking the beautifully landscaped back yard with plenty of trees, space for a firepit, and raised planter boxes with drip lines. Unfinished basement for future expansion. Three car tandem garage! Newer roof and newer interior and exterior paint. Centrally located to Fort Collins, Loveland and I-25! An incredible home and great value! Call (970) 237-2752 to schedule a private tour or click here for more information.

Jon Holsten | MLS# 977252

If you have been waiting to make the highly desirable Parkwood community your home, this is your chance. Located on a large corner lot, with mature landscaping, homeowners will instantly feel at home at 1316 Kirkwood Drive. Completely remodeled, this home is move in ready. The immaculate kitchen is an entertainer’s dream, offering a spacious prep area while enjoying conversations with guests. Take note of the functional pull-out drawers throughout. The large yard offers ample room for patio dining, cozy conversations, and yard games. In addition, there is a storage shed (that would make for an awesome playhouse) and room for boat or RV parking. The primary suite offers a luxurious bathroom with a custom walk-in closet. The thorough remodel offers buyers flexibility as to how they want to configure the space to make this spectacular property their dream home. Call (970) 581-5358 to schedule a private tour or click here for more information.

Tiffany Burns | MLS# 977144

4027 Boulder Drive is a spacious bi-level ready for your personal touch! The two living spaces and open kitchen are great for entertaining. A deck from the kitchen leads you down to the beautiful fenced backyard where you’ll find a “hobbit” sauna, outdoor bar, fort, and separate garden space. There is plenty of parking with an attached 2 car garage and covered parking space off driveway. A bonus 10′ x 20′ “Tiny House” with electricity and loft is included. No HOA and is close to The Olde Course, Cattail Creek, Mehaffey Park, Lake Loveland and more! This home is in need of some TLC and is priced in consideration of such. Call (970) 691-0056 to schedule a private tour or click here for more information.

Meagan Griesel | MLS# 977158

6499 Lake Ward Drive is a great ranch style home with 3 bedrooms, 2 baths, 2 car garage, open floor plan, gas stove, stainless steel appliances, spacious master bedroom with walk-in closet on the main level, master bath has a large shower, laundry on the main level, lots of natural light, great views of the mountains, back deck with shades, unfinished basement, close to the front range for hiking or biking. Call (970) 590-4841 to schedule a private tour or click here for more information.

Suzanne Ekeler | MLS# 977477

723 61st Avenue is an immaculate property situated on a pristine landscaped lot in the Pumpkin Ridge neighborhood. Step inside this inviting home and fall in love with its convenient open floor plan including 4 beds/3 baths, upgraded finishes, and professionally finished walk-out basement. A Picturesque covered deck looks to the mountains and there is a lovely garden patio below. Tool Shed in back/ MINERAL RIGHTS included/ Garage floors are coated with sealant. This home is both cozy and spacious- a perfect place to call home! Call (970) 396-7233 to schedule a private tour or click here for more information.

Elizabeth Dolton | MLS# 977586

There are endless possibilities for 830 & 834 E Myrtle Street! Residential: If you are seeking a single-family oasis in the heart of Old Town, don’t miss out on this unique opportunity. This land offers homeowners the opportunity to design their dream home, with ample room for outdoor living. Live the true Colorado dream as you settle in the Ft. Collins community, within walking distance to restaurants, breweries, and multiple trails. Multi-Family: Investors can now realize the full potential of this lot with the ability to utilize the land to build high-end townhomes for discerning buyers. Market analysis is available for investors seeking the opportunity to appeal to high-end buyers seeking turnkey units, in a fabulous location. Care Facility: Owners of long-term care and rehabilitation centers will realize the potential of this unique site. With the ability to design, develop, and operate a care facility, investors in this sector now have the chance to see their project come to fruition within the heart of our community. These units are not Historically Designated. Please note this is one of two properties being sold. The seller prefers to sell 830/834 E Myrtle together. Updated land use codes as of 10/18/22 offer many opportunities. Call (970) 581-5358 to schedule a private tour or click here for more information.

Tiffany Burns & Chase Christensen | MLS# 977716 / 977717

3623 Poppi Avenue is a better-than-new beautiful 3 bedroom, 3 bath two-story home in Tuscany neighborhood. This home has a lot to offer. Enjoy premium stained cabinets, granite countertops, engineered wood floors, stainless steel appliances, gas fireplace, a/c, tankless water heater, & 96% energy efficient furnace. Eat-in kitchen complete with island and large pantry. Situated on a large, professionally landscaped and fully fenced lot. The unfinished basement and oversized garage give you plenty of storage and room to grow. Enjoy the tiered covered back patio and access to the park across the street. Don’t wait, this home will move fast! Call (970) 534-5440 to schedule a private tour or click here for more information.

Ben Barnhart | MLS# 977969

Don’t miss out on the opportunity to own this 3 bed/2 bath ranch, in Waterglen. 3768 Gardenwall Court is situated on a quiet cul-de-sac, backs to open space & is close to the neighborhood park. Features include: laminate flooring & newer appliances in the kitchen, a 5-piece master bathroom with a walk-in closet & a third bedroom that could be used as a study/office. Yard is fully fenced, ready for the Colorado summer nights. HOA includes non-potable water for landscaping. Call (970) 673-7285 to schedule a private tour or click here for more information.

Paul Hunter & Greg Rittner | MLS# 978003

705 E Drake Road Unit P-26 is an FHA Approved Condo! Come discover this adorable Scotch Pines condo in the heart of Midtown Ft Collins! This upper level end unit features 2 bedrooms, 1 bath and is located on a large greenbelt surrounded by big beautiful trees and mature landscaping. Your covered patio looks right out to the incredible open space. Walking distance to the clubhouse, pool and tennis. You will find the living is easy here where you can walk to Sprouts, Starbucks and lots of great retail spots. Come for the greenbelt and large trees and the proximity to the CSU campus and Old Town. HOA includes heat, water/sewer, exterior maintenance, trash and snow removal! Call (970) 646-3035 to schedule a private tour or click here for more information.

Aaron Pearson | MLS# 978000

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