Prices Still Up
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The post Prices Still Up appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Money is on sale (again).
30-year mortgage rates now sit at 3.3%.
This is less than half of the long-term, 40-year average.
This is also almost a full percentage point lower than they were one year ago (which was still very low).
Let’s put this in real numbers.
A $300,000 loan at today’s rates has a $1,313 monthly principal and interest payment.
One year ago, that same loan would be $1,432 per month.
That’s a 8.3% difference in monthly payment.
The fact that money is on sale is one of many reasons that the housing market remains very strong right now.
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In this week’s episode of Mondays with Matthew, Windermere Chief Economist Matthew Gardner kicks off a series of episodes in which he answers questions from his followers. The first deals with how COVID-19 will impact buyer behaviors, especially in more urban markets.
The post Matthew Gardner Weekly COVID-19 Housing & Economic Update: 5/18/2020 appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here’s something true about today’s market. Properties are selling fast.
Compared to one year ago, the number of days it takes for a property to sell is significantly lower.
The industry term is “Days on Market” or DOM.
DOM is way down.
Here is the comparison of May 2020 versus May 2019:
Initially, this may seem counter-intuitive. How could homes be selling faster in today’s environment?
Here’s the deal. The buyers and sellers who are active in today’s market are serious.
There really aren’t ‘tire-kicker’ buyers out looking at properties just for the fun of it.
There really aren’t sellers testing the market to ‘see what they can get.’
For the most part, buyers and sellers are on a specific mission and this mindset is showing up in the numbers.
For sellers especially, this is no time to test the market and be overly aggressive on price.
Properties that are priced right and in good condition are selling and often selling fast.
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The post Faster appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Here’s something true about today’s market. Properties are selling fast.
Compared to one year ago, the number of days it takes for a property to sell is significantly lower.
The industry term is “Days on Market” or DOM.
DOM is way down.
Here is the comparison of May 2020 versus May 2019:
Initially, this may seem counter-intuitive. How could homes be selling faster in today’s environment?
Here’s the deal. The buyers and sellers who are active in today’s market are serious.
There really aren’t ‘tire-kicker’ buyers out looking at properties just for the fun of it.
There really aren’t sellers testing the market to ‘see what they can get.’
For the most part, buyers and sellers are on a specific mission and this mindset is showing up in the numbers.
For sellers especially, this is no time to test the market and be overly aggressive on price.
Properties that are priced right and in good condition are selling and often selling fast.
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The post Faster appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Better than new! Beautiful two-story home at 505 56th Ave in Greeley with a finished basement. Patio and backyard area has been upgraded to allow for wonderful indoor/outdoor living to enjoy these Colorado summers. Upgraded finishes throughout, including a wet bar in the basement! Located on a cul de sac, and close to breweries, shopping, restaurants, and UC Health. Upgraded hail resistant roof shingles and many more high-end features make this the perfect place to call your next home! Contact Paul Hunter at (970) 637-7285 for your private showing for more information or click the link below for more details.
http://windermerenoco.com/listing/109804934
The post Terrific Two Story Home in Greeley! appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
Beautiful home in Village East subdivision in central Fort Collins! Updated throughout with new flooring, brand new kitchen with quartz countertops, and remodeled bathrooms. Dining room and kitchen area have been opened up to provide a fantastic space! This home has been lovingly cared for and it shows. There is a huge backyard with immaculate landscaping, and a deck to enjoy the wonderful Fort Collins evenings. Have fun at the neighborhood pool as well! Come see this home that offers amazing features for the price! Contact Paul Hunter at (970) 673-7285 for your private showing for more information or click the link below for more details.
http://windermerenoco.com/listing/109340189
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Remodeled Mid Century Ranch at 1302 Laporte Ave in Old Town just North of City Park! Newer roof, windows, kitchen, siding, floors all done with in the last 5 years. Detached two car garage and recently paved driveway for great off street parking. The open floor plan features a huge living room and kitchen with stainless steel appliances and plenty of counter space plus a large island. Other features include a fireplace and A/C. All of this conveniently located with easy access to Downtown, CSU and the Foothills! Contact Brandon Bidwell at (970) 215-1573 for your private showing for more information or click the link below for more details.
http://windermerenoco.com/listing/109666599
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The COVID-19 pandemic has affected populations across the globe, but those who struggle with poverty and count on food programs to meet their basic day-to-day needs are in an especially uncertain place. While coping with increased demand and a bottlenecked pipeline of food supply, food banks are desperate for funds to continue to serve their communities. Because of this, Windermere decided to challenge its offices to raise $250,000, every dollar of which would be matched by the Windermere Foundation and donated to food banks in the areas where Windermere operates. We titled it the “Neighbors in Need” fundraising campaign.
Neighbors in Need kicked off on April 21, with the goal of raising $250,000 by May 5. As word continued to spread, online donations and contributions from both our agents and the public began to increase. Neighbors in Need was given a boost by Seattle Seahawks starting safety Quandre Diggs in a heartfelt message encouraging support. Over the final 24 hours, leading up to the May 5 deadline, support poured in from across the Windermere family as the final figure exceeded the initial goal of $500,000, landing at a total of $690,000.
Neighbors in Need exemplifies Windermere’s deep commitment to supporting our local communities, which traces back to 1989 when the Windermere Foundation first started. Since then, we’ve proudly raised more than $41 million for low-income and homeless families throughout the Western U.S.
On behalf of the Windermere Foundation to all those who joined the effort: Thank you. We could not have made this large of an impact without your help. We are humbled to be able to do our part to help those who need it most during these uncertain times.
The post Neighbors in Need Raises $690,000 for Food Banks appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
We notice a very interesting dynamic in the market right now.
There was clearly a pent-up real estate demand created during the recent time when in-person showings were not allowed. The numbers back it up.
First, a little background. During a portion of “Shelter in Place,” all in-person viewing of properties ceased. Instead, buyers spent time online viewing virtual tours and 3-D photography.
Even though clients could view homes virtually, purchase activity did slow down.
Today, showings are allowed again as long as clear protocols are followed. We’ve implemented a Safe Showings program to keep our clients protected.
Now, to the numbers.
Through the first two weeks of May 2020, the number of closed properties is down compared to the same time period in 2019.
In most cases these closed properties are a result of purchase agreements that were written in April- a time when in-person showings were restricted.
So, a decrease in closings was expected.
However, the number of new written contracts so far this month is up considerably compared to the same time frame last year.
Specifically,
So, buyer activity is up compared to last year, even in our current environment.
This speaks to the resiliency of our market and the effect of low interest rates.
At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.
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