Terrific Two-Story Home in Wellington!

Here it is – the opportunity to own a great home in the Buffalo Creek subdivision at 3155 Thundering Herd Way in Wellington for under $315K. Walking distance to the Wellington Community Park and the new schools that are being built in Wellington. First American Home Warranty included. Check out the fresh interior paint on main and upper levels as well as the new carpeting. The private back yard is fully fenced and has foothill views. Quick access to I-25 from this gem. Contact Maria Dellota at (970) 215-1013 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/106365334

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Beautiful Two Story home in the Westchase Community in Fort Collins!

This home at 6420 Garrison Court in Fort Collins that sits on a west-facing cul-de-sac lot with beautiful mature landscaping. It is in pristine condition with new carpet, new appliances, hardwood was refinished 2019, new roof and paint in 2019. The finished basement is an entertainer’s dream with a full kitchen/bar area. This home won’t last long so schedule a showing today! Contact Lindsey Crisanti at (970) 420-4498 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/106334427

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Bubble Burst

Every so often we will hear a concern that another housing bubble is forming.

To help answer that question it’s valuable to look at the reasons that caused the last one.

There were three main drivers of the bubble that burst in 2008:

  1. Easy Credit – loans were very easy to attain
  2. Over-Leverage – people were using their homes at ATM’s
  3. Over-Supply – too many new homes were being built

Now, let’s compare that to today:

  1. Stricter Credit – the average home buyer today has a FICO score of 755
  2. High Equity – collectively, U.S. homeowners have $19 Trillion of equity in their homes and collective mortgage debt has not increased for 13 years
  3. Under-Supply – today we are building only two-thirds of the new homes being built in 2004 yet the population is much higher

Given this healthy information, we don’t see another housing bubble forming today.

If you would like to see a video recap of our annual Market Forecast you can watch that HERE.

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What to Consider When Adding to Your Home

When dissatisfaction with your current home strikes, it can be exciting to launch into a plan for a new addition. A new living room, bedroom, or more can add value to your home while improving your quality of life.

On the other hand, even a modest addition can turn into a major construction project, with architects and contractors to manage, construction workers traipsing through your home, hammers pounding, and sawdust everywhere. And although new additions can be a very good investment, the cost-per-square-foot is typically more than building a new home, and much more than buying a larger existing home.

 

Define your needs

To determine if an addition makes sense for your situation, start by defining exactly what it is you want and need. By focusing on core needs, you won’t get carried away with a wish list that can push the project out of reach financially.

If it’s a matter of needing more space, be specific. For example, instead of just jotting down “more kitchen space,” figure out just how much more space is going to make the difference, e.g., “150 square feet of floor space and six additional feet of counter space.”

If the addition will be for aging parents, consult with their doctors or an age-in-place expert to define exactly what they’ll require for living conditions, both now and over the next five to ten years.

 

Types of additions

Bump-out addition

“Bumping out” one or more walls to make a first-floor room slightly larger is something most homeowners think about at one time or another. However, when you consider the work required, and the limited amount of space created, it often figures to be one of your most expensive approaches.

 

First-floor addition

Adding a whole new room (or rooms) to the first floor of your home is one of the most common ways to add a family room, apartment or sunroom. But this approach can also take away yard space.

 

Dormer addition

For homes with steep rooflines, adding an upper floor dormer may be all that’s needed to transform an awkward space with limited headroom. The cost is affordable and, when done well, a dormer can also improve the curb appeal of your house.

 

Second-story addition

For homes without an upper floor, adding a second story can double the size of the house without reducing surrounding yard space.

 

Garage addition

Building above the garage is ideal for a space that requires more privacy, such as a rentable apartment, a teen’s bedroom, guest bedroom, guest quarters, or a family bonus room.

 

Permits required

You’ll need a building permit to construct an addition, which will require professional blueprints. Your local building department will not only want to make sure that the addition adheres to the latest building codes, but also ensure it isn’t too tall for the neighborhood or positioned too close to the property line. Some building departments will also want to ask your neighbors for their input before giving you the go-ahead.

 

Requirements for a legal apartment

While the idea of having a renter that provides an additional stream of revenue may be enticing, the realities of building and renting a legal add-on apartment can be sobering. Among the things you’ll need to consider:

Special permitting

Some communities have regulations against “mother-in-law” units so they have zone-approval requirements.

 

Separate utilities

In many cities, you can’t charge a tenant for heat, electricity, and water unless utilities are separated from the rest of the house (and separately controlled by the tenant).

 

ADU Requirements

When building an “accessory dwelling unit” (the formal name for a second dwelling located on a property where a primary residence already exists), building codes often contain special requirements regarding emergency exits, windows, ceiling height, off-street parking spaces, the location of main entrances, the number of bedrooms, and more.

 

In addition, renters have special rights while landlords have added responsibilities. You’ll need to learn those rights and responsibilities and be prepared to adhere to them.

 

Average costs

The cost to construct an addition depends on a wide variety of factors, such as the quality of materials used, the laborers doing the work, the type of addition and its size, the age of your house and its current condition. For ballpark purposes, however, you can figure on spending about $200 per square foot if your home is in a more expensive real estate area or about $100 per foot in a lower-priced market.

You might be wondering how much of that money your efforts might return if you were to sell the home a couple of years later? The answer to that question depends on a number of variables, but the average “recoup” rate for a family room addition is typically more than 80 percent.

 

The bottom line

While you should certainly research the existing-home marketplace before hiring an architect to map out the plans, building an addition onto your current home can be a great way to expand your living quarters, customize your home, and remain in the same neighborhood.

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Staying Safe When Selling Your Home

Staying organized while uprooting your life and moving from one home to another can feel impossible. There’s also the pressure to keep your home clean and tidy for showings to prospective buyers, but your personal safety is an important consideration as well.

When selling your home,  there will be strangers entering your space, so it’s important for you and your agent to take certain safety precautions. Like so many things in life, they can feel more manageable once written down, so we made this handy checklist.

 

Prepare your home:

  • Go through your medicine cabinets and remove all prescription medications.
  • Remove or lock up precious belongings and personal information. You will want to store your jewelry, family heirlooms, and personal/financial information in a secure location to keep them from getting misplaced or stolen.
  • Remove family photos. We recommend removing your family photos during the staging process so potential buyers can see themselves living in the home. It’s also a good way to protect your privacy.
  • Check that your windows and doors are secure before and after showings. If someone is looking to get back into your home following a showing or an open house, they will look for weak locks or they might unlock a window or door.
  • Consider extra security measures such as an alarm system or other monitoring tools like cameras.
  • Don’t show your own home! If someone you don’t know walks up to your home asking for a showing, don’t let them in. You always want to have an agent present to show your home.

 

Talk to your agent about the following safety precautions: 

  • Do a walk-through with your agent to make sure you have identified everything that needs to be removed or secured, such as medications, belongings, and photos.
  • Go over your agent’s screening process so you are both on the same page about phone screening, and how to qualify buyers before showings, as well as personal safety tactics during showings and open houses.
  • Lockboxes to secure your keys for showings should be up to date. Electronic lockboxes track who has had access to your home.
  • Go through your home’s entrances and exits and share important household information so your agent can advise how to secure your property while it’s on the market.

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Beautiful Mountain Views in Loveland!

Perfect home at 199 Sierra Vista Drive in Loveland for multi-generational living or separate area for short term rental. Situated on a large corner lot overlooking Loveland and expansive mountain views. Large well-lit rooms throughout the entire home, fireplace on each level (2), the lower level is a walk-out with easy access on the side of the home. The upper level is open and has a newer wood deck to drink your morning coffee and tea. Home used to have 2 garages which could be converted back fairly easily. Home comes with a 1-year Home Warranty from First American home warranty. Contact Meagan Griesel at (970) 691-0056 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/106027676

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Terrific Two-Story Home in Fort Collins!

Gorgeous home at 2450 Clarion Lane in Fort Collins featuring a brand-new roof, two hot water heaters (one is brand new), new exterior paint, and wood floor on the main level with newer stainless steel appliances (2018). Enjoy Colorado evenings on the Trex deck in the spacious back yard along with a sprinkler system and central AC for those hot summer days. There’s plenty of space for toys in this tandem 3-car garage. Close to the community pool and new neighborhood park! Contact Kailee Harvey at (970) 331-2868 or Jon Holsten at (970) 237-2752 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/106048956

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Stunning Mountain Views in Longmont!

Unique mountain property at 15800 Moss Rock Drive in Longmont just outside of the city and close to beautiful hiking spots. Enjoy 35+ rolling acres of your own mountain oasis that is close enough to town to still give you all the convenience of the city. The attached 2 car garage and detached 5 car garage have plenty of space for all of your toys, cars and trucks! There are views in every direction from every window in the home and plenty of living spaces for entertaining or enjoying some seclusion. With Open zoning, this home has endless possibilities for you and your business or hobbies. Contact Anali Roath at (970) 829-8818 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/106049530

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Gorgeous Two Story Home in Windsor!

This beautiful home, at 1540 Edenbridge Dr in Windsor located in the desirable Windshire subdivision, is a must-see! With three large living spaces, there is room for everyone! The large kitchen features granite countertops, custom painted cabinets, a gas range and all appliances included. Relax in your own theater room including a 120-inch screen and projector! Entertain indoors with a full wet bar, wine fridge, and microwave, or take in some sun on the patio while cooking at the outdoor kitchen. Don’t miss the chance to find your move-in ready dream home! Contact Jacqueline Feil at (970) 402-7509 for your private showing for more information or click the link below for more details.

http://windermerenoco.com/listing/105763544

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Lovely Stats

In honor of Valentine’s Day, here are some Northern Colorado stats we think you will love:

  • Prices are up 3.5% compared to last year
  • Inventory is up 10% which means there is more selection for buyers
  • We just had the most active January in terms of closings in over 10 years
  • Well over 13,000 residential properties representing $5.4 Billion of volume has sold in the last 12 months

If you would like to see a video recap of our annual Market Forecast you can watch that HERE.

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