Another Real Estate Meltdown?

This week our Chief Economist took a deep dive into the numbers to examine the current health crisis versus the housing crisis of 2008.

The reason why?  People wonder if we are going to have another housing meltdown nationally and going to see foreclosures and short sales dramatically increase.

It turns out that the numbers show that today’s housing environment is quite different than 2007, right before the housing bubble burst.

Specifically, homeowners are in a vastly different situation with their mortgage compared to the pre-Great Recession’s housing meltdown.

In addition to much higher credit scores and much higher amounts of equity compared to 2007, the most significant difference today is in the amount of ARM mortgages.

Back in years leading up to the housing bubble, Adjustable Rate Mortgages were very prevalent.  In 2007 there were just under 13 million active adjustable rate loans, today there are just over 3 million.

The number of those ARMs that would reset within three years was 5 million in 2007 compared to only 320,000 today.

It’s those Adjustable Rate loans resetting to a higher monthly payment that caused such a big part of the housing crisis back in 2008 to 2010.

Back then not only was people’s employment impacted, but many were facing increased monthly mortgage payments.

That’s why there were so many foreclosures and short sales in 2008 to 2010.

That is not the case today and one of many reasons why we don’t foresee a housing meltdown.

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.

Posted on May 1, 2020 at 3:11 pm
Meagan Griesel | Posted in Colorado Real Estate, Fun Facts | Tagged , , , , , , ,

Will there be a real estate crash?

 

 


Posted on April 24, 2020 at 2:59 pm
Meagan Griesel | Posted in Fun Facts, Northern Colorado Real Estate, Uncategorized | Tagged , , ,

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. Call for your private showing at (970) 691-0056 for more information or click the link below for more details.

http://windermerenoco.com/listing/106027676


Posted on February 14, 2020 at 11:45 pm
Meagan Griesel | Posted in Loveland Real Estate, Virtual Tours | Tagged , , , , , , , , , , ,

Millennial Buyers

Millennials often get a bad rap.  One of the myths about Millennials is that they don’t own homes and will be renters forever.

Not true!  Especially on the Front Range of Colorado.

Based on research by our very own Chief Economist, Matthew Gardner, Millennials make up a significant percentage of all home buyers in Metro Denver and Colorado.

In Metro Denver, 50% of all buyers last year were in the Millennial demographic.

In Northern Colorado, the number is 41%.

It turns out that Millennials, as they move into their mid to late 30’s, see the value of home ownership and are at the point in their lives where it makes sense to own instead of rent.


Posted on January 17, 2020 at 3:41 pm
Meagan Griesel | Posted in Colorado Real Estate, Fun Facts | Tagged , ,

Add to Your Net Worth!

It’s no surprise that for just about every homeowner, their real estate represents the largest portion of their net worth.

Check out these numbers from the Federal Reserve’s Survey of Consumer Finances:

  • Median Net Worth in the U.S. = $97,300
  • Median Net Worth of a Renter = $5,200
  • Median Net Worth of a Homeowner = $231,400

Posted on October 17, 2019 at 4:39 pm
Meagan Griesel | Posted in Colorado Real Estate, Colorado Real Estate Market Update, Fun Facts | Tagged , , , ,

Price Reduced

Some fascinating research from the Denver Metro Association of Realtors…

37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period.

Property owners who have to reduce their price take an average of 58 days to receive an offer.

Those who don’t have to reduce their price only take 13 days.

This stat obviously speaks to the importance of pricing your property right on day one.


Posted on October 4, 2019 at 3:13 pm
Meagan Griesel | Posted in Blog, Fort Collins Real Estate, Fun Facts, Loveland Real Estate, Northern Colorado Real Estate, Real Estate Tips | Tagged , ,

4 Steps to Help Your Family Relocation Go Smoothly

Relocating your family is a lengthy process. You first must sell your home and find a reputable real estate agent to help you navigate the house-hunting experience. Then you have to plan the move (and possibly find a moving company), pack up all your things, and make the trek to your new city.

But relocating is also an exciting time. Months of anticipation builds up, and then it hits you, as you’re surrounded by boxes, that this is your new home. It’s finally come. But now what? Here are some tips on how to settle into your new home and adjust smoothly.

  1. Switch Registrations and Insurance

After a move, the focus tends to be on unpacking and decorating, but certain changes need to be made to important policies and registrations, such as:

  • Applying for a new license or changing your address on your current license.
  • Switching your contact information with your health insurance, bank accounts, retirement accounts, investment accounts, phone provider, etc.
  • Switching your address with your car insurance provider or, if in a new state, switching your auto insurance coverage.

If you need to switch your auto insurance coverage, do some research to determine your state’s minimum requirement and whether it’s best to extend coverage based on underinsured and uninsured statistics. Also, look at the cost of different policies. This way, you can determine whether you should opt out of unnecessary coverage, purchase full coverage, or get personal injury protection (PIP) coverage. PIP coverage covers you and any passengers in your car. Some policies even cover and lost wages and other types of damage.

 

  1. Begin Unpacking and Organizing

During your first week in your new home, you will want to give your home a thorough deep cleaning and start unpacking your belongings. Children often have a difficult time adjusting, so it can help to make their rooms your first priority. It can also help to involve the kids by having them unpack some of their belongings. That way, it’s a family activity, and you can even have rewards each evening, such as game nights or dinner out.

Unpack one room at a time and organize the items as you go. Seeing your belongings in the new home will help you to envision any new decor you may need to add later down the road.

 

  1. Get to Know Your Neighborhood

Exploring your new neighborhood and getting the lay of the land is an activity for the whole family, and it will make adjusting to the new home easier. Make a new-neighborhood bucket list that requires you to find some spots everyone loves. Your list could look something like:

  • Locate the best parks.
  • Get a library card at the local library.
  • Visit all the coffee shops and find a favorite drink.
  • Attend one community event a month.
  • Check out the town visitors center.
  • Take one tour.
  • Ask five people for their favorite places and visit those places.
  • Shop local and find locally made goods.
  • Host a housewarming party and invite the neighbors.

Even if your home isn’t fully unpacked or decorated, getting your bearings around town will help your family to start building familiarity.

 

  1. Socialize

This is actually one of the most challenging parts of relocating for many families. Amid the busyness of settling into your new residence, it can be tempting to stay cooped up. However, the quickest way to get comfortable in your new environment will be to meet your neighbors and make friends with people in the community who share your interests. Start by seeking out local events, go to locally owned establishments, and look online for community groups.

Doing a little planning will help your relocation go smoothly. Remember to get all your family’s registrations and insurance policies in order, and strategize your unpacking process. Leave the house to explore your new neighborhood and meet people. Most importantly, try to enjoy the journey with your family, and allow time to get settled in.

 

Credit : Kris Louis of Parentingwithkris.com

Photo Credit: Burst


Posted on September 20, 2019 at 1:53 pm
Meagan Griesel | Posted in Real Estate Tips, Uncategorized | Tagged , , , ,

4 Steps to Help Your Family Relocation Go Smoothly

Relocating your family is a lengthy process. You first must sell your home and find a reputable real estate agent to help you navigate the house-hunting experience. Then you have to plan the move (and possibly find a moving company), pack up all your things, and make the trek to your new city.

But relocating is also an exciting time. Months of anticipation builds up, and then it hits you, as you’re surrounded by boxes, that this is your new home. It’s finally come. But now what? Here are some tips on how to settle into your new home and adjust smoothly.

  1. Switch Registrations and Insurance

After a move, the focus tends to be on unpacking and decorating, but certain changes need to be made to important policies and registrations, such as:

  • Applying for a new license or changing your address on your current license.
  • Switching your contact information with your health insurance, bank accounts, retirement accounts, investment accounts, phone provider, etc.
  • Switching your address with your car insurance provider or, if in a new state, switching your auto insurance coverage.

If you need to switch your auto insurance coverage, do some research to determine your state’s minimum requirement and whether it’s best to extend coverage based on underinsured and uninsured statistics. Also, look at the cost of different policies. This way, you can determine whether you should opt out of unnecessary coverage, purchase full coverage, or get personal injury protection (PIP) coverage. PIP coverage covers you and any passengers in your car. Some policies even cover and lost wages and other types of damage.

 

  1. Begin Unpacking and Organizing

During your first week in your new home, you will want to give your home a thorough deep cleaning and start unpacking your belongings. Children often have a difficult time adjusting, so it can help to make their rooms your first priority. It can also help to involve the kids by having them unpack some of their belongings. That way, it’s a family activity, and you can even have rewards each evening, such as game nights or dinner out.

Unpack one room at a time and organize the items as you go. Seeing your belongings in the new home will help you to envision any new decor you may need to add later down the road.

 

  1. Get to Know Your Neighborhood

Exploring your new neighborhood and getting the lay of the land is an activity for the whole family, and it will make adjusting to the new home easier. Make a new-neighborhood bucket list that requires you to find some spots everyone loves. Your list could look something like:

  • Locate the best parks.
  • Get a library card at the local library.
  • Visit all the coffee shops and find a favorite drink.
  • Attend one community event a month.
  • Check out the town visitors center.
  • Take one tour.
  • Ask five people for their favorite places and visit those places.
  • Shop local and find locally made goods.
  • Host a housewarming party and invite the neighbors.

Even if your home isn’t fully unpacked or decorated, getting your bearings around town will help your family to start building familiarity.

 

  1. Socialize

This is actually one of the most challenging parts of relocating for many families. Amid the busyness of settling into your new residence, it can be tempting to stay cooped up. However, the quickest way to get comfortable in your new environment will be to meet your neighbors and make friends with people in the community who share your interests. Start by seeking out local events, go to locally owned establishments, and look online for community groups.

Doing a little planning will help your relocation go smoothly. Remember to get all your family’s registrations and insurance policies in order, and strategize your unpacking process. Leave the house to explore your new neighborhood and meet people. Most importantly, try to enjoy the journey with your family, and allow time to get settled in.

 

Photo Credit: Burst

Written by – Kris Louis of Parentingwithkris.com


Posted on September 20, 2019 at 1:49 pm
Meagan Griesel | Posted in Real Estate Tips | Tagged , , , , ,

Rate Bounce

Rates hit near-historic lows this week and are now at 3.49% for a 30-year mortgage.

There have only been two other times in history when rates have been this low- April 2013 and October 2016.

It’s interesting to see what happened soon after bottoming out these last two times.

In April of 2013 rates hit 3.41%. By August 2013 they had jumped to 4.40%.

Rates bottomed again in October 2016 at 3.42%. Just two months later in December 2016 they were 4.32%.

Each time the increase was nearly 1% within just a few months.

So, if history proves itself as a guide, we can’t expect these rates to last for long.


Posted on September 13, 2019 at 5:32 pm
Meagan Griesel | Posted in Colorado Real Estate, Fun Facts, Real Estate Tips | Tagged , , , ,

Downtown Beauty in Loveland!

It’s rare to find a downtown home with this much curb appeal, square footage, main floor master & closet space! Have your friends over for lunch at 904 W 5th Street in Loveland on your large covered wrap-around porch and holiday meals in your large dining room. Corner nooks perfect for a reading area or a piano. Behind the house is a large patio, workshop/craft room with 220 wiring. Located within an easy walk to the new movie theater & restaurants. Upstairs carpet is preserving hardwood floors underneath. Call for your private showing at (970) 691-0056 for more information or click the link below for more details.

http://windermerenoco.com/listing/99762169

 


Posted on September 4, 2019 at 4:34 pm
Meagan Griesel | Posted in Loveland Real Estate, Virtual Tours | Tagged , , , , , , , , , ,