Hazardous Waste 101

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Have you wondered how to get rid of those old paint cans, household chemicals, and lawn fertilizers?

We know that when people are moving, they have a bunch of these items that they aren’t allowed to just throw in the trash. There are good resources in both Weld and Larimer counties for disposing of them in an environmentally friendly way. 

In Larimer County, there is a hazardous waste drop-off spot located adjacent to the landfill. You can bring up to 30 gallons of items for free as long as you follow the guidelines. In Weld County, there is a location in NE Greeley for dropping off these types of waste. The limit there is 200 pounds. 

For information on the hours they are open and what items are acceptable, click on the links below:

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From Renting To Owning

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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

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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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15-Year Mortgages

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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

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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

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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!

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Ninety Eight Percent

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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

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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

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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

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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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