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 | Category: Colorado Real Estate, Colorado Real Estate Market Update, Fun Facts | 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 | Category: Real Estate Tips | Tagged , , , , ,

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 , ,

Charming Brick Ranch in Loveland!

This adorable brick ranch at 906 Heather Dr offers plenty of space and a large yard with mature trees. The main floor has beautiful original hardwood floors, 3 bedrooms, and a large covered deck right off of the dining area. Both the main floor and the basement have wood burning fireplaces and full bathrooms. The basement has 2 bedrooms, one is non-conforming, and a large family room. Newer roof and ready to move into. Call for your private showing at 970-691-0056 for more information or click the link below for more details.

http://windermerenoco.com/listing/87317866

Posted on October 8, 2018 at 9:51 pm
Meagan Griesel | Category: Loveland Real Estate, Virtual Tours | Tagged , , , , , , , , , ,

Colorado Real Estate Market Update

This analysis of the Metro Denver and Northern Colorado real estate markets is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact us.

ECONOMIC OVERVIEW

Colorado added 45,300 non-agricultural jobs over the past 12 months, a growth rate of 1.7%. Although that is a respectable number, employment growth has been trending lower in 2017 as the state reaches full employment. Within the metropolitan market areas included in this report, there was annual employment growth in all areas other than Grand Junction, where employment was modestly lower. There was solid growth in Greeley and Fort Collins, where annual job growth was measured at 4% and 2.7%, respectively.

In November, the unemployment rate in the state was a remarkably low 2.9%, down from 3% a year ago. The lowest reported unemployment rates were seen in Fort Collins and Boulder, where only 2.5% of the labor force was actively looking for work. The highest unemployment rate (3.7%) was in Grand Junction.

The state economy has been performing very well, which is why the wage growth over the past year has averaged a very solid 3.3%. I expect the labor market to remain tight and this will lead to wages rising at above-average rates through 2018.

HOME SALES ACTIVITY

  • In the fourth quarter of 2017, there were 14,534 home sales—a drop of 2.0% compared to a year ago.
  • Sales again rose the fastest in Boulder County, which saw sales grow 17.9% versus the third quarter of 2016. There were also reasonable increases in Weld and Larimer Counties. Sales fell in all other counties contained within this report because there is such a shortage of available homes for sale.
  • As I discussed in my third quarter report, sales slowed due to the lack of homes for sale. The average number of homes for sale in the markets in this report is down by 8.2% from the fourth quarter of 2016.
  • The takeaway is that sales growth has moderated due to the lack of homes for sale.

HOME PRICES

  • With continued competition for the limited number of available homes, prices continued their upward trend. Average prices were up 9.8% year-over-year to a regional average of $431,403, which was slightly higher than the third quarter of 2017.
  • There was slower appreciation in home values in Boulder County, but the trend is still positive.
  • Appreciation was strongest in Weld County, which saw prices rise 14.3%. There were also solid gains in almost all other counties considered in this report.
  • The ongoing imbalance between supply and demand persists, which means we can expect home prices to continue appreciating at above-average rates for the foreseeable future.

 

DAYS ON MARKET

  • The average number of days it took to sell a home rose by two days when compared to the fourth quarter of 2016.
  • Homes in all but three counties contained in this report took less than a month to sell. Adams County continues to stand out, where it took an average of just 21 days for homes to sell.
  • It took an average of 29 days to sell a home last quarter. This is up nine days over the third quarter of 2017.
  • Housing demand remains strong in Colorado and this will continue with well-positioned, well-priced homes continuing to sell very quickly.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the fourth quarter of 2017, I have chosen to leave the needle where it was in the previous quarter. Listings remain scarce, but this did not deter buyers who are still active in the market. As much as I want to see more balance between supply and demand, I believe the market will remain supply-constrained as we move toward the spring, which will continue to heavily favor sellers.

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.

Posted on February 1, 2018 at 9:20 pm
Meagan Griesel | Category: Colorado Real Estate, Fort Collins Real Estate, Loveland Real Estate, Northern Colorado Real Estate, Windsor Real Estate | Tagged , , , , , , , , , ,

Short vs. Long

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There are short-term questions about real estate and there are long term questions about real estate.

Clients often have short-term questions like…

How much will prices go up next year? Should I sell my house this Fall or next Spring? Will interest rates go up next week?

We encourage our clients to evaluate those questions in the context of the long-term. There are decades of data on the Northern Colorado market which reveal certain patterns.

When we show our clients these patterns they feel confident and secure in the investment they have made into their home and their rental properties.

For example, the long-term appreciation rates based on up to 41 years of research are as follows:

  • Larimer County = 5.36%
  • Weld County = 4.25%
  • Metro Denver = 5.56%

So over the course of a year prices may go up a lot or go up a little, but in the long term they will stay true to these long term averages.

To see an update as to what is happening in the Northern Colorado market, contact us to receive our quarterly “Scoop” report.


We have justimage completed a comprehensive report for anyone thinking about selling their home. The Insider’s Guide to Selling Your Home (without any stress or surprises) is now available for you.

It is hot off the press and you can grab a copy by clicking HERE.

Claim your copy immediately so you can see everything you need to know to sell your home in today’s market.


 

Posted on October 27, 2017 at 4:02 pm
Meagan Griesel | Category: Blog, Colorado Real Estate, Fun Facts, Northern Colorado Real Estate | Tagged , , , , , , ,

Inventory Is Up

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Inventory Is Up

For the past few years the hot topic in Northern Colorado real estate is inventory, or more specifically, lack of inventory.

Based on our current research, it looks like this trend is reversing.

Let’s look at the increase in inventory in our major markets versus a year ago…

  • Fort Collins up 28%
  • Loveland up 4%
  • Windsor up 37%
  • Greeley up 5%

This increase in is very good news for prospective buyers as now there are more homes to choose from.

To see an update as to what is happening in the Northern Colorado market, contact us to receive our quarterly “Scoop” report.


imageWe have just completed a comprehensive report for anyone thinking about selling their home. The Insider’s Guide to Selling Your Home (without any stress or surprises) is now available for you.

It is hot off the press and you can grab a copy by clicking HERE.

Claim your copy immediately so you can see everything you need to know to sell your home in today’s market.

Posted on October 20, 2017 at 5:53 pm
Meagan Griesel | Category: Blog, Colorado Real Estate, Fort Collins Real Estate, Fun Facts, Loveland Real Estate, Northern Colorado Real Estate | Tagged , , , , , , ,

Homecoming

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It’s homecoming weekend at CSU which means that alums from all over the Country will be back to visit Northern Colorado.

So how does their real estate market stack up versus the place where they went to college?

Odds are, it’s not as good!

It turns out that there are only 9 metropolitan areas out of about 270 that have higher appreciation than Larimer County.

Interestingly, 3 of the 9 are in Washington and 2 of the 9 are in Oregon. So if they are visiting from the Pacific Northwest they probably have an even stronger market than here.

But pretty much everywhere else is below our market.

This is all according to the Federal Housing Finance Authority who tracks the nation’s real estate markets. They show that Larimer County has appreciated 12.08% in the last year which ranks 9th in the nation.

First place belongs to Mount Vernon, Washington at 15.14%. Last place is Atlantic City, N.J. which had a decrease of 0.77%.

So best of luck to CSU in their homecoming game and cheers to a healthy real estate market!

Today is our annual Homecoming weekend Tailgate Party. You are invited to attend. Click HERE for more info. You can bring family and friends to our office at 400 E. Horsetooth in Fort Collins. We’ll have taco trucks, beer, wine, margaritas, bouncy houses, pony rides and a live band! See you there!


We have jusimaget completed a comprehensive report for anyone thinking about selling their home. The Insider’s Guide to Selling Your Home (without any stress or surprises) is now available for you.

It is hot off the press and you can grab a copy by clicking HERE .

Claim your copy immediately so you can see everything you need to know to sell your home in today’s market.

Posted on October 13, 2017 at 7:37 pm
Meagan Griesel | Category: Colorado Real Estate, Fort Collins Real Estate, Fun Facts, Northern Colorado Real Estate | Tagged , , , ,

Signs of Slowing?

Is the same thing happening in Northern Colorado?Road, Sign, Asphalt, Road Sign, Roadsign

Are the Larimer and Weld County markets showing signs of slowing?

Here’s the deal…

The Denver Post article points to the difference in number of transactions between June and July of this year. It’s no surprise to us that July had fewer closings.

What’s true in Metro Denver is also true in Northern Colorado – June tends to have more closings than any other month during the year so of course July will be slower.

What we do notice when we look at the numbers is that the difference between June and July is significant.

In all major markets in Northern Colorado, the difference between June and July is the greatest it has ever been in the last four years.

For example, in Fort Collins, July had 18% fewer closings than June, whereas last year the difference was 9%. In Greeley the difference this year was 16% while last year was only 5%.

A month over month difference does not necessarily indicate a long-term trend. However, there is a difference compared to last year which should be welcome news to buyers who have been waiting for a slow down.


We have just completed a comprehensive report for anyone thinking about selling their home.

The Insider’s Guide to Selling Your Home (without any stress or surprises) is now available for you.

It is hot off the press and you can request a copy by emailing meagangriesel@gmail.com

Contact me to get your copy immediately so you can see everything you need to know to sell your home in today’s market.

Posted on August 15, 2017 at 6:41 pm
Meagan Griesel | Category: Fort Collins Real Estate, Longmont Real Estate, Loveland Real Estate, Northern Colorado Real Estate, Windsor Real Estate | Tagged , , , , , , , , ,

THE GARDNER REPORT – 2ND QUARTER 2017

The Gardner Report | Metro Denver and Northern Colorado Q2 2017

The following analysis of the Metro Denver and Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

ECONOMIC OVERVIEW


Colorado added 62,000 new jobs over the past 12 months, an increase of 2.4% over this time last year. All of the metropolitan markets included in this report saw annual employment growth, with substantial growth in Boulder (4.7%) and Fort Collins (+4.1%), and more modest growth in Grand Junction (0.3%).

In May, the unemployment rate in the state was 2.3%, matching the prior month and down 3.4% from a year ago. The lowest unemployment rate was in Fort Collins at just 2.0%. The highest rate was in Grand Junction, though it was still a relatively low 3.3%. It is reasonable to expect these markets will see above-average wage growth given the tight labor market.

HOME SALES ACTIVITY


  • There were 17,581 home sales during the first quarter of 2017, a solid annual increase of 3.9% over the first quarter of 2016.
  • Jefferson County saw sales grow at the fastest rate over the past 12 months, with a 9.4% increase. There was also an impressive increase in Douglas County (+6.3%).  More modest sales growth was seen in Denver and Weld Counties.
  • Even with the rise in sales, listing activity is still running at well below historic averages, with the total number of homes for sale in the second quarter 7.6% below a year ago.
  • Sales growth continues to trend higher, but inventory levels remain well below where they need to be to satisfy demand.
Annual Change in Home Sales

HOME PRICES


  • Due to solid demand, home prices continue to rise with average prices up by 8.5% year-over-year to an average across the region of $438,980.
  • Boulder County saw slower appreciation in home values, but the trend is still positive.
  • Appreciation was strongest in Denver and Weld Counties, where prices rose by 12.4% and 10.6% respectively.
  • Economic growth is driving job growth, which is driving housing demand. Given the relative shortage of homes for sale, expect to see home prices continue to appreciate at above-average rates at least through the rest of the year.
Metro Denver and Northern Colorado Heat Map
Annual Change in Home Sale Prices

DAYS ON MARKET


  • The average number of days it took to sell a home dropped by three days when compared to the second quarter of 2016.
  • Homes in all counties contained in this report took less than a month to sell. Adams County stood out as it took an average of only 11 days to sell a home.
  • During the second quarter, it took an average of just 17 days to sell a home. This is down by a substantial 13 days compared to the first quarter of this year.
  • The takeaway here is that demand remains robust as evidenced by the remarkably short amount of time that it is taking to sell a home.
Average Days on Market

CONCLUSIONS


This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

After the second quarter of 2017, I have moved the needle even farther in favor of sellers. Mortgage rates remain very competitive and, with the specter of lending standards easing a little, demand will remain robust, which will be reflected in rising home values.

ABOUT MATTHEW GARDNER


Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.
Posted on July 31, 2017 at 8:10 pm
Meagan Griesel | Category: Blog, Colorado Real Estate, Fort Collins Real Estate, Loveland Real Estate, Northern Colorado Real Estate | Tagged , , , , , , , ,