Still appreciating – just slower

The Latest

Here’s the latest from the Federal Housing Finance Authority’s report on price appreciation.  They track 241 markets across the country.  These are the one-year price growth numbers for the Colorado cities on their list:

  • Boulder = 6.14%
  • Colorado Springs = 9.18%
  • Denver = 6.97%
  • Fort Collins = 6.43%
  • Greeley = 7.06%

So, even though the pace of sales is going down, prices overall are still going up.

Even in today’s growing market, we do notice that in certain price ranges, in certain locations, sellers are having to reduce their price to attract offers on their homes.

What we know is that all markets are local and there are trends that occur on a micro level that sometimes differ than the overall macro trends.

If you are curious to know what the value of your home is in today’s market, I’d be happy to show that to you.

Posted on June 7, 2019 at 1:18 pm
Meagan Griesel | Category: Colorado Real Estate, Colorado Real Estate Market Update, Fun Facts | Tagged , ,

Friday Fun Facts. How’s the Market?

We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.

When we dig in and do the research, this is what we find…

Home prices are still going up, just not as fast as they have been.

We’ve known that the double-digit appreciation that we’ve seen for the last several years could not be sustained and we expected the pace of appreciation to slow down.

So far in 2019, this is the case.  Prices still going up, just not as fast.

It’s like running up stairs.  Eventually you will get tired and you will need to start walking (but you’re still going up).

Headlines that suggest that prices have peaked and are falling create unrealistic expectations for buyers and give sellers a skewed perspective on the market.

Here are the numbers…

Average Price:

  • Up 1.53% in Metro Denver
  • Up 6.1% in Larimer County
  • Up 5.1% in Weld County

Months of Inventory:

  • 1.5 Months in Metro Denver
  • 1.5 Months in Larimer County
  • 1.4 Months in Weld County
  • (Remember that 4-6 months of inventory represents a balanced market)

There has been an increase in Days on Market which means that homes are taking longer to sell.  But the increase is measured in days, not months.

Here are those numbers…

Days on Market:

  • Up 4 Days in Metro Denver
  • Up 11 Days in Larimer County
  • Up 3 Days in Weld County

So, be mindful of headlines that can be sensationalized and might suggest that the market is falling.

Bottom line, the market is going up, just not as fast as it was.

Speaking of prices, here’s something that can help you…

You probably don’t need a reminder that this is tax season.

Not only because tax returns are due in two weeks but also because you will soon receive your property tax notification in the mail.

Every two years your County re-assesses the value of your property and then sends that new value to you.

When this happens, many of our clients:

Don’t agree with the new assessed value

Aren’t sure what to do

Are confused by the process

Want to save money on property taxes

Good news!  We have a webinar that will help you.  On the webinar we will show you:

How to read the information from the County

What it means for you

How to protest the valuation if you want

How to get an accurate estimate of your property’s value

You can listen to the webinar live or get the recording.  In any case, you can sign up at www.WindermereWorkshop.com

The webinar is April 17th at 10:00.  If you can’t join live, go ahead and register so you can automatically receive the recording.

This is a complimentary online workshop for all of our clients.  We hope you can join!

Posted on April 5, 2019 at 1:57 pm
Meagan Griesel | Category: Colorado Real Estate, Fort Collins Real Estate, Fun Facts, Loveland Real Estate, Northern Colorado Real Estate | Tagged , , ,

Home prices rarely go negative in Larimer County

Did you know, according to FHFA, home prices in Larimer County have dropped more than 1% only 4 times in the last 40 years?

FHFA stands for the Federal Housing Finance Authority. We are one of 261 markets that they track. Since 1978 they have been measuring home price appreciation here.
If you look at the appreciation numbers for each individual year, you will notice that most years the prices go up and some years the prices go down.
But there have only been 4 times in those 40 years where prices decreased more than 1%
Here’s what happened those 4 times:
• 1982 = -3.99%
• 1987 = -1.86%
• 2008 = -2.29%
• 2010 = -1.12%
Sometimes we hear buyers say that they would like to wait for the “prices to come crashing down.” The reality is that the price drops don’t happen all that often and when they do, they don’t drop by that much at all.
If you would like to see a short video with a recap of our annual Market Forecast presentation, watch the video below.
Posted on February 25, 2019 at 3:46 pm
Meagan Griesel | Category: Fort Collins Real Estate, Fun Facts, Loveland Real Estate, Northern Colorado Real Estate | Tagged , ,