2002 Fossil Creek Parkway | Fort Collins

Beautifully maintained and updated town-home style condo.

Open and spacious foyer welcomes you with updated engineered hardwoods and vaulted ceilings. Upstairs enjoy the quiet open loft. The private master retreat is spacious and boast of a well appointed master bath. The secondary bedroom also has it’s own private bath. On the main level the spacious living room provides a warm welcoming feel with a fireplace that flows to the kitchen and private backyard oasis. 2 car attached garage!

 


Posted on February 28, 2017 at 2:41 pm
Natalie Davis | Posted in Fort Collins, Home Buying | Tagged , , , , , , ,

Fort Collins Real Estate vs. Boulder Real Estate

Facts about the Northern Colorado Real Estate Market

Weekly Fun Facts

The Next Boulder?

Fort Collins Real Estate vs. Boulder Real Estate | The hottest question we get in Northern Colorado is this “do you think Fort Collins is the next Boulder?”

Let’s look closely at that question and start with what is similar. They are both beautiful college towns nestled against the foothills. They both have affordability issues which push real estate buyers to satellite communities (what is happening is Wellington is not unlike what happened in Louisville).

Yet there are differences at a fundamental level that will forever keep these two places very different from each other. For example the average Household Income in Boulder is 60% higher than Fort Collins. Here is another big deal, Boulder is only half the size of Fort Collins (25 square miles versus 57 square miles). And get this, the City of Boulder owns 71 square miles of open space in and around the City.

Essentially Boulder is a small island surrounded by an ocean of open space inhabited by very high income-earners. That is why the average price of a single family home in Boulder is now over $1 million.

We put together a short video which shows you more detail about this hot question. You can watch it here:


Posted on February 24, 2017 at 9:35 am
Natalie Davis | Posted in Boulder, Colorado Homes, CSU, CU Boulder, Fort Collins, Greeley, Home Buying, Larimer County, Loveland, Northern Colorado Real Estate, Selling a Home | Tagged , , , , , , , , , , , , , , , ,

CSU Stadium Impact on Real Estate

Facts about the Northern Colorado Real Estate Market

Weekly Fun Facts

Stadium Impact?

Today we are looking at one of the hot topics in Northern Colorado. Is the new CSU football stadium impacting real estate values in the surrounding neighborhoods?

The answer, based on the research we’ve done so far, is… yes!

Here are the details…

We looked at the residential properties in the 1-mile radius surrounding the new stadium. We pulled the sales over the last three years in that area. Then we compared that area to the market as a whole.

Let’s talk about prices first. Residential prices inside the City Limits of Fort Collins went up 11% last year and 12% the year before that. Within the stadium’s 1-mile radius, prices only went up 1% last year, but 14% the year before that. It seems that recent construction has impacted prices.

Now what about number of sales? Residential transactions have gone down 5% per year each of the last two years. Near the stadium, the decrease has been even larger at 7 to 8% per year.

It does seem that the stadium has had an impact. We will continue to keep our eye on this trend!

One footnote is that last year had more condominium sales than the year before which has an impact on average price.

 


Posted on February 17, 2017 at 1:21 pm
Natalie Davis | Posted in Uncategorized |

Northern Colorado Economic Forecast for 2017

2017 Crystal Ball

2017 Crystal Ball

Last week Windermere’s Chief Economist Matthew Gardner joined us for our annual Market Forecast events in Northern Colorado.

Here are some of the big takeaways that we shared:

  • Interest rates will increase to 4.6% by the end of the year
  • First-time buyers are back and will make up 47% of all buyers in 2017
  • Inventory will remain at record lows and will continue to drive up prices
  • Appreciation is expected to be between 9% and 7% accross our Front Range markets
  • Home builders will get creative in order to hit lower price points – we will see more “tiny homes” and more homes without basements

Click HERE to see Matthew Gardner’s infographic on the 2017 Forecast.


Posted on January 28, 2017 at 7:42 pm
Natalie Davis | Posted in Fort Collins, Greeley, Home Buying, Larimer County, Loveland, Luxury Real Estate, Northern Colorado Real Estate, Selling a Home, Seniors Real Estate Specialist (SRES), Weld County | Tagged , , , , , , , , , , , , , , ,

2016 Northern Colorado Stats

Weekly Fun Facts - Natalie Davis

Fun Facts – Natalie Davis

Did You Know?

Here are some fun “Did You Know?” stats as we wrap up 2016 (arguably one of the most fascinating years in the history of Northern Colorado Real Estate)

  • This year the median price of a home supassed…
  • $350,000 in Fort Collins
  • $300,000 in Loveland
  • $250,000 in Greeley
  • 2,281 homes were sold in Fort Collins this year
  • That’s 133 fewer than last year
  • Windsor had 197 more home sales than last year
  • The only major market with considerably more sales than 2015
  • Today, as we finish 2016, there are only 10 single family homes on the market in Fort Collins priced under $300,000.

Happy New Year to all of you. Be sure to register for our 2017 Real Estate Market Forecast if you want to see insightful information about our market and hear some entertaining real estate stories. www.windermereforecast.com

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Register for our annual Real Estate Market Forecast events! We will be in Denver January 18th and in Fort Collins January 19th starting at 5:30 pm.. Back by popular demand is our Cheif Economist Matthew Gardner. Seating is limited.

Sign up at www.windermereforecast.com


Posted on December 30, 2016 at 9:30 am
Natalie Davis | Posted in Fort Collins, Greeley, Home Buying, Larimer County, Loveland, Luxury Real Estate, Northern Colorado Real Estate, Selling a Home, Weld County |

5 Ways You Didn’t Know You Could Save for a Down Payment

 

Home Sweet Home doormat at a home's entry

5 Ways You Didn't Know You Could Save for a Down Payment

One of the biggest misconceptions of home buying? The 20% down payment. Here’s how to buy with a lot less down. Read

Visit houselogic.com for more articles like this.

© Copyright 2016 NATIONAL ASSOCIATION OF REALTORS®

 

5 Ways You Didn't Know You Could
Save for a Down Payment

By: Erik Sherman

Published: October 26, 2015

One of the biggest misconceptions of home buying? The 20% down payment. Here's how to buy with a lot less down.

 

Buying your first home conjures up all kinds of warm and fuzzy emotions: pride, joy, contentment. But before you get to the good stuff, you've got to cobble together a down payment, a daunting sum if you follow the textbook advice to squirrel away 20% of a home's cost.

Here are five creative ways to build your down-payment nest egg faster than you may have ever imagined.

1. Crowdsource Your Dream Home

You may have heard of people using sites like Kickstarter to fund creative projects like short films and concert tours. Well, who says you can't crowdsource your first home? Forget the traditional registry, the fine china, and the 16-speed blender. Use sites like Feather the Nest and Hatch My House to raise your down payment. Hatch My House says it's helped Americans raise more than $2 million for down payments.

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2. Ask the Seller to Help (Really!)

When sellers want to a get a deal done quickly, they might be willing to assist buyers with the closing costs. Fewer closing costs = more money you can apply toward your deposit.

"They're called seller concessions," says Ray Rodriguez, regional mortgage sales manager for the New York metro area at TD Bank. Talk with your real estate agent. She might help you negotiate for something like 2% of the overall sales price in concessions to help with the closing costs.

There are limits on concessions depending on the type of mortgage you get. For FHA mortgages, the cap is 6% of the sale price. For Fannie Mae-guaranteed loans, the caps vary between 3% and 9%, depending on the ratio between how much you put down and the amount you finance. Individual banks have varying caps on concessions.

No matter where they net out, concessions must be part of the purchase contract.

Related: New Law Protects You from Surprise Closing Costs

3. Look into Government Options

The U.S. Department of Housing and Urban Development, or HUD, offers a number of homeownership programs, including assistance with down payment and closing costs. These are typically available for people who meet particular income or location requirements. HUD has a list of links by state that direct you to the appropriate page for information about your state.

HUD offers help based on profession as well. If you're a law enforcement officer, firefighter, teacher, or EMT, you may be eligible under its Good Neighbor Next Door Sales Program for a 50% discount on a house's HUD-appraised value in "revitalization areas." Those areas are designated by Congress for  homeownership opportunities. And if you qualify for an FHA-insured mortgage under this program, the down payment is only $100; you can even finance the closing costs.

For veterans, the VA will guarantee part of a home loan through commercial lenders. Often, there's no down payment or private mortgage insurance required, and the program helps borrowers secure a competitive interest rate.

Some cities also offer homeownership help. "The city of Hartford has the HouseHartford Program that gives down payment assistance and closing cost assistance," says Matthew Carbray, a certified financial planner with Ridgeline Financial Partners and Carbray Staunton Financial Planners in Avon, Conn. The program partners with lenders, real estate attorneys, and homebuyer counseling agencies and has helped 1,200 low-income families.

4. Check with Your Employer

Employer Assisted Housing (EAH) programs help connect low- to moderate-income workers with down payment assistance through their employer. In Pennsylvania, if you work for a participating EAH employer, you can apply for a loan of up to $8,000 for down payment and closing cost assistance. The loan is interest-free and borrowers have 10 years to pay it back.

Washington University in St. Louis offers forgivable loans to qualified employees who want to purchase housing in specific city neighborhoods. University employees receive the lesser of 5% of the purchase price or $6,000 toward down payment or closing costs.

Ask the human resources or benefits personnel at your employer if the company is part of an EAH program.

5. Take Advantage of Special Lender Programs

Finally, many lenders offer programs to help people buy a home with a small down payment. "I would say that the biggest misconception [of homebuying] is that you need 20% for the down payment of a house," says Rodriguez. "There are a lot of programs out there that need a total of 3% or 3.5% down."

FHA mortgages, for example, can require as little as 3.5%. But bear in mind that there are both upfront and monthly mortgage insurance payments. "The mortgage insurance could add another $300 to your monthly mortgage payment," Rodriguez says.

Some lender programs go even further. TD Bank, for example, offers a 3% down payment with no mortgage insurance program, and other banks may have similar offerings. "Check with your regional bank," Rodriguez says. "Maybe they have their own first-time buyer program."

Not so daunting after all, is it? There's actually a lot of help available to many first-time buyers who want to achieve their homeownership dreams. All you need to do is a little research — and start peeking at those home listings!


Posted on August 17, 2016 at 4:25 pm
Natalie Davis | Posted in Uncategorized |

Seasonal Slowdown

 

Weekly Fun Facts

Weekly Fun Facts

August marks the end of the busy real estate selling season and the beginning of the traditional seasonal slowdown in our market.

The four months of April, May, June and July tend to produce 45% of the year's total sales. This is based on looking back at 5 years of data.

If 2016 holds true to form, the next five months from now until the end of the year will be progressively slower.

No surprise that December tends to be the slowest month with a third of the number of sales compared to a typical July.

Here's what we will be watching closely over the next few months – is this year's seasonal slowdown "normal", or, because the market has been so hot this year, is it breaking traditional trends.

We will be sure to keep you informed!

 

Contact Natalie Davis to find out what the low rates have done to the value of your home. She will put together an Equity Snapshot which will show you, in detail, what your home is worth in today's market. It's valuable information to have whether you are thinking of selling or not.  970-281-5321


Posted on July 30, 2016 at 10:04 am
Natalie Davis | Posted in Home Buying, Luxury Real Estate, Northern Colorado Real Estate, Selling a Home, Seniors Real Estate Specialist (SRES) | Tagged , , , , , , , ,

Weekly Fun Facts

Facts about the Northern Colorado Real Estate Market

Weekly Fun Facts

  
Inventory Mis-Match

Our market is under-supplied. Plain and simple. There is a 1 to 2-month supply of homes across Northern Colorado. A balanced market would have 6 months.

So, home builders to the rescue right? Not so fast. Home builders, for various reasons, have a very hard time matching the market.

75% of sales in Northern Colorado are below $400,000. Only 16% of new home inventory in Northern Colorado is below $400,000. That is a mis-match.

Builders are faced with high land costs, high materials cost, high labor costs, high permitting costs and high water costs. It's pretty much impossible, in most parts of our market, to deliver a new home under $400,000.

So, condominiums to the rescue right? Not so fast. Because of onerous construction defect laws, developers do not want to build multi-family, for sale product. It's too risky. They'd rather build apartments.

Our market is under-supplied. Plain and simple.

This is really good news if you are a seller who wants to move up. This is especially good news if you are a seller of a condominium.

Contact us to find out what our under-supplied market has done to the value of your home. We'll put together an Equity Snapshot which will show you, in detail, what your home is worth in today's market. It's valuable information to have whether you are thinking of selling or not.  970-281-5321

 

Posted on July 20, 2016 at 9:15 am
Natalie Davis | Posted in Home Buying, Northern Colorado Real Estate, Selling a Home | Tagged , , , , , , , , , ,

Weekly Fun Facts

Weekly Fun Facts

Weekly Fun Facts


007

Just for fun let's take a walk down memory lane and look at 2007 average prices in Northern Colorado.

  • Fort Collins = $238,000
  • Loveland = $229,900
  • Greeley = $151,500

What are they today and how much have they increased?

  • Fort Collins = $348,000 (46% higher)
  • Loveland = $345,000 (50% higher)
  • Greeley = $248,000 (64% higher)

 


Posted on June 23, 2016 at 11:02 am
Natalie Davis | Posted in Colorado Homes, Home Buying, Northern Colorado Real Estate, Selling a Home |

Inventory Mismatch

 

One of the many interesting dynamics in our Northern Colorado market is the mismatch between inventory and sales.

 

Meaning, there isn't enough of what most people want.


Inventory vs Sales for homes in Northern ColoradoCheck this out, year to date for Northern Colorado:

Under $300K = 1,123 homes sold/87 currently for sale 

$300K to $500K = 1,106 homes sold/358 currently for sale

$500K to $1M = 310 homes sold/301 currently for sale

Over $1M = 13 homes sold/54 currently for sale

By the way, this means that is an incredible opportunity for the move up buyer. Contact us to see what your home is worth in today's market.


Posted on June 17, 2016 at 4:33 pm
Natalie Davis | Posted in Home Buying, Luxury Real Estate, Northern Colorado Real Estate, Selling a Home | Tagged , , ,