Friday Fun Facts – The Average American Moves 12 Times in Their Life

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According to the U.S. Census Bureau, the average American moves approximately 11.7 times throughout their lifetime. However, this number varies widely depending on factors such as age, income, and marital status.

Young adults between the ages of 18 and 34 move much more frequently than older adults. Folks between 18 and 34 have an average of 3.3 moves under their belts. In contrast, adults aged 65 and over move much less frequently, with an average of 2.4 moves throughout their lifetime.

Times have changed. While Americans used to move for job opportunities, most people nowadays choose to move for personal reasons. Being closer to families and seeking a better quality of life have become major driving forces behind American relocations.

Of course, the COVID-19 pandemic has also had a significant impact on American mobility. Many people took the chance to re-evaluate their living situations in light of remote work and other changes in the workplace. After all, if you’re going to work from home, why not make your home someplace nice?

 

Sources:  U.S. Census Bureau and MovingFeedback.com

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Friday Fun Facts – Have We Reached a Balanced Market?

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Windermere Principal Economist Jeff Tucker analyzes the National Association of REALTORS’ September U.S. home sales report, what the findings say about the current housing market, and why mortgage rates have been rising in recent weeks.

 

 

 

 

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Friday Fun Facts – 3-D Printed Homes

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Single-family house 3d printing concept. Symbolic house building using modern technologies. 3d illustration.

Last week, over 300 people gathered in Greeley, Colorado, to witness the groundbreaking of the largest Habitat for Humanity project in the state, which will feature 3D-printed homes. Alquist 3D, a concrete printing company, showcased its technology, using a robotic arm to layer concrete for walls instead of traditional materials like lumber.

Alquist, founded by Zachary Mannheimer, relocated its headquarters to Greeley due to local partnerships, including with Habitat for Humanity and Aims Community College. The company aims to make 3D-printed homes cheaper and more disaster-resistant than traditional houses. Currently, Alquist is working to match the cost of lumber-built homes but anticipates that large-scale production could reduce costs by 20-30%.

The Hope Springs project will consist of 174 Habitat homes and 320 apartments. Alquist’s initial task is to build two duplex homes, while 12 lumber-built homes will begin construction soon. Habitat’s local CEO, Cheri Witt-Brown, supports the technology but seeks to ensure it meets budget and family preferences before committing to further expansion.

Hope Springs will feature various community amenities and could serve as a model for addressing Colorado’s housing crisis. The project aims to combine nonprofit, private, and public efforts to create affordable housing options.

 

Source:  Colorado Public Radio

 

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Friday Fun Facts – 3-D Printed Homes

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Single-family house 3d printing concept. Symbolic house building using modern technologies. 3d illustration.

Last week, over 300 people gathered in Greeley, Colorado, to witness the groundbreaking of the largest Habitat for Humanity project in the state, which will feature 3D-printed homes. Alquist 3D, a concrete printing company, showcased its technology, using a robotic arm to layer concrete for walls instead of traditional materials like lumber.

Alquist, founded by Zachary Mannheimer, relocated its headquarters to Greeley due to local partnerships, including with Habitat for Humanity and Aims Community College. The company aims to make 3D-printed homes cheaper and more disaster-resistant than traditional houses. Currently, Alquist is working to match the cost of lumber-built homes but anticipates that large-scale production could reduce costs by 20-30%.

The Hope Springs project will consist of 174 Habitat homes and 320 apartments. Alquist’s initial task is to build two duplex homes, while 12 lumber-built homes will begin construction soon. Habitat’s local CEO, Cheri Witt-Brown, supports the technology but seeks to ensure it meets budget and family preferences before committing to further expansion.

Hope Springs will feature various community amenities and could serve as a model for addressing Colorado’s housing crisis. The project aims to combine nonprofit, private, and public efforts to create affordable housing options.

 

Source:  Colorado Public Radio

 

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Friday Fun Facts – Best Places to Live

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U.S. News & World Report just released their ‘Best Places to Live’ rankings and two Colorado cities made the top 10 list.

They rank the 150 most populated metropolitan areas on criteria such as employment, quality of life, and strength of the housing market.

Here are the top 10:

  1. Naples, FL
  2. Boise, ID
  3. Colorado Springs, CO
  4. Greensville, SC
  5. Charlotte, NC
  6. Raleigh, NC
  7. Huntsville, AL
  8. Virginia Beach, VA
  9. Austin, TX
  10. Boulder, CO

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FRIDAY FUN FACTS – Transitioning into Fall

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As we transition from September to October, the real estate market is showing signs of stability and balance. Inventory levels are beginning to flatten out, providing buyers with more options to choose from. Sellers are becoming more flexible, willing to negotiate, make repairs, and offer concessions to close deals.

  • Active Listings: The number of active listings has remained consistent compared to the previous week, although inventory levels are notably higher than this time last year.
  • New Listings: There has been an increase in new listings both week over week and year over year, indicating growing seller confidence.
  • Pending Transactions: The number of pending transactions has remained relatively flat, and the market’s supply of inventory has held steady.
  • Odds of Selling: While the Odds of Selling have risen slightly, they remain below historical averages, reflecting the ongoing dynamics of the market.
  • Showings: Showings have seen a minor decline from the previous week but are higher compared to the same period last year. Homes are staying on the market longer, giving buyers more time to consider their options.
  • Price Reductions: The prevalence of price reductions has increased, with a larger percentage of homes adjusting their prices before entering into contracts. Additionally, the size of these price reductions has also shown an uptick.

Buyers currently have increased negotiating power, as sellers are more willing to engage in negotiations and make concessions. With a stable inventory and a market that offers more time for decision-making, now may be an opportune time for buyers to explore their options.

 

For personalized insights and guidance tailored to your specific real estate goals, feel free to reach out to our team at Windermere Real Estate.  We are here to help you make informed decisions and seize the opportunities presented by the current market conditions.

The post FRIDAY FUN FACTS – Transitioning into Fall appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

FRIDAY FUN FACTS – Transitioning into Fall

/in , , , , , , , , , , , , , , , , , /by

As we transition from September to October, the real estate market is showing signs of stability and balance. Inventory levels are beginning to flatten out, providing buyers with more options to choose from. Sellers are becoming more flexible, willing to negotiate, make repairs, and offer concessions to close deals.

  • Active Listings: The number of active listings has remained consistent compared to the previous week, although inventory levels are notably higher than this time last year.
  • New Listings: There has been an increase in new listings both week over week and year over year, indicating growing seller confidence.
  • Pending Transactions: The number of pending transactions has remained relatively flat, and the market’s supply of inventory has held steady.
  • Odds of Selling: While the Odds of Selling have risen slightly, they remain below historical averages, reflecting the ongoing dynamics of the market.
  • Showings: Showings have seen a minor decline from the previous week but are higher compared to the same period last year. Homes are staying on the market longer, giving buyers more time to consider their options.
  • Price Reductions: The prevalence of price reductions has increased, with a larger percentage of homes adjusting their prices before entering into contracts. Additionally, the size of these price reductions has also shown an uptick.

Buyers currently have increased negotiating power, as sellers are more willing to engage in negotiations and make concessions. With a stable inventory and a market that offers more time for decision-making, now may be an opportune time for buyers to explore their options.

 

For personalized insights and guidance tailored to your specific real estate goals, feel free to reach out to our team at Windermere Real Estate.  We are here to help you make informed decisions and seize the opportunities presented by the current market conditions.

The post FRIDAY FUN FACTS – Transitioning into Fall appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Friday Fun Facts – Does the Federal Reserve affect Mortgage Rates?

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The federal funds rate and mortgage rates are both types of interest rates, but they operate differently. The Fed directly controls the federal funds rate, which primarily influences short-term interest rates, while mortgage rates are determined by lenders based on long-term bond yields and various economic factors like inflation and market demand. This means that while both rates can move in the same direction, they don’t always do so. For instance, when inflation rises, mortgage lenders may increase rates to protect their returns, even if the Fed lowers its rate. This nuanced relationship reflects differing priorities: the Fed balances inflation with job market stability, while lenders focus on the erosion of their future payments. Historical data supports this divergence, illustrating that Fed rate changes don’t consistently correlate with mortgage rate adjustments.

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Friday Fun Facts – The 1651 Day Wait is Over

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It’s been 1651 days since the Federal Reserve last cut rates.

During this era of rising rates, we’ve seen:

  • Mortgage rates peak at nearly 8% in October 2023
  • Existing home sales plummet to 1995 levels
  • Home affordability hit a 40-year low

So when we got the news this week that the Fed was cutting interest rates by 0.55%, we were elated.

Not because this single interest rate will dramatically decrease overnight – but because this signals that this is only the beginning and not the end of interest rate cuts.

What to expect – more buyers, increased competition.

To help you navigate the process of buying or selling your home, please reach out to your Windermere agent.

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Friday Fun Facts – It’s All About the FED

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You may have heard that the Federal Reserve Board (FED) is meeting next week – so what does that mean? Think of the Fed lowering interest rates like a store putting items on sale. When prices drop, people are more likely to buy things. Similarly, when the Fed reduces interest rates, borrowing money becomes less expensive. This encourages people to take out loans for homes, cars, or businesses, and helps boost the economy by making it easier and more appealing to spend and invest. It’s like making the cost of borrowing money more affordable, which gets things moving!

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