Lovely Stats

In honor of Valentine’s Day, here are some Northern Colorado stats we think you will love:

  • Prices are up 3.5% compared to last year
  • Inventory is up 10% which means there is more selection for buyers
  • We just had the most active January in terms of closings in over 10 years
  • Well over 13,000 residential properties representing $5.4 Billion of volume has sold in the last 12 months

If you would like to see a video recap of our annual Market Forecast you can watch that HERE.

Posted on February 14, 2020 at 4:31 pm
Sarah Schilz | Category: Fort Collins Real Estate, News | Tagged , , , , , ,

Pros and Cons of Stocks vs Real Estate

content_shutterstock_597706784.jpgHi all,

Matt and I were talking about our investments and making good decisions and naturally this concept came up. After speaking with our financial advisors I’ve personally decided that you should invest in what you know but also diversify. Our financial advisors don’t like the idea of dumping everything into real estate because it’s not liquid enough, meaning, we can’t turn those homes into cash quickly. Being a Realtor, of course I want to dump it all into real estate because I know and understand real estate. That being said, I see their point. What I’ve come to take away is that real estate might not make you quite as much money compared to stocks but the difference is marginal and at the end of the day you still have the real estate that will either continue to grow or you can sell it and make up the difference. I like the idea of having something to show for my money rather than just having money. Full disclosure: All of these opinions are just that, opinions. I don’t know much about financial shtufff and you should NOT take my advice because this is NOT advice.

Matt found this video and I think it explains stocks versus real estate very well. Enjoy!

Posted on February 11, 2020 at 1:24 pm
Sarah Schilz | Category: Fort Collins Real Estate, News, Northern Colorado Real Estate | Tagged , , ,

Should I Sell My House This Year?

Should I Sell My House This Year? | MyKCM

If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Surveyfrom the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!

As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:Should I Sell My House This Year? | MyKCMIn the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.

When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:

  • Northeast: 71% positive
  • Midwest: 76% positive
  • South: 72% positive
  • West: 81% positive

In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:Should I Sell My House This Year? | MyKCMAs you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.

According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:

“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

Bottom Line

If you’re ready to list your home, you can feel good about the current sentiment in the market. Let’s get together today to determine the best next step when it comes to selling your house this year.

Posted on January 28, 2020 at 12:54 pm
Sarah Schilz | Category: Fort Collins Real Estate, Northern Colorado Real Estate | Tagged , , , ,

First-Time Buyers Are Searching for Existing Homes This Year

First-Time Buyers Are Searching for Existing Homes This Year

First-Time Buyers Are Searching for Existing Homes This Year | MyKCM

In the latest Housing Trends Report, the National Association of Home Builders (NAHB) measured the share of adults planning to buy a home over the next 12 months. The report indicates the percentage of all buyers that will be first-time buyers looking to purchase a home grew from 58% in Q4 2018 to 63% in Q4 2019.

The results revealed,

“Millennials are the most likely generation to be making plans to purchase a home within a year (19%), followed by Gen Z (13%) and Gen X (12%)…Prospective buyers in the youngest two generations are primarily first-time buyers:  88% of Gen Z buyers and 78% of Millennial buyers are reaching out to homeownership for the first time in their lives.”

With a high demand from first-time homebuyers and a shortage of inventory in the current market, selling your existing home this year might be your best move. Why? Because when homebuyers begin their search, they’re not all looking for new construction. Many are eager to find a little charm and character in a place to call home – possibly yours.

In fact, according to the same study, there is a significant demand for existing homes:

“In terms of the type of home these prospective home buyers are interested in, 40% are looking to buy an existing home and 19% a newly-built home. The remaining 41% would buy either a new or existing home.”

With showing activity up among buyers and more new construction coming to market, as a homeowner, you have the opportunity to sell your existing house now and move up into a new one, or downsize into a home that better fits your current and ever-changing needs.

Bottom Line

Not all buyers are looking for a newly built house. If you’re ready to take advantage of low mortgage rates and a high demand for your existing home, let’s get together to determine how we will market the charming details of your current house to potential buyers.

Posted on January 27, 2020 at 12:56 pm
Sarah Schilz | Category: Fort Collins Real Estate, Listings, News, Northern Colorado Real Estate | Tagged , , , , , ,

Prepare Your Home for Winter

As the days shorten, you can mitigate many mid-winter headaches with some preemptive prep. Proper weatherizing can help protect your home from preventable damage, save money on energy costs, and, most importantly, keep you and your loved ones safe and warm throughout the winter season. Here is a useful checklist to manage your weatherization project. Setting aside some time on a couple of weekend days should be more than enough to knock this out:

Cracks & Leaks

Examine your entire house for any cracks and leaks, from your roof to your baseboards, to your basement and foundation. With unpredictable winter weather, these cracks and leaks are how the outside gets in, causing cold drafts and water damage.

Luckily, most cracks don’t require a professional to handle it. Depending on your house type and age, it’s likely you’ll be able to do it yourself with supplies from your local hardware store.

Windows & Doors:

Gaps and breaks in windows and doors is another way to let the winter in your home, and they can let heat escape, raising your heat bill throughout the season.

Make sure seals are tight and no leaks exist. If you have storm windows, make sure you put them on before the cold season begins. Additionally, add weather-strips and or a door sweep to prevent drafts and keep the heat in.

Rain Gutters: 

Clean your rain gutters of any debris. In colder climates, the buildup will cause gutters to freeze with ice, crack and then leak.

Once you have removed the residue from the drains, test them by running hose water to make sure cracks and leaks have not already formed. Even in warmer locales, the buildup can put undue stress on your roof and home.

Pipes: 

Protecting your pipes from freezing should be your number one priority this winter. A burst pipe can quickly become a disaster in any home.

Remember to turn off your exterior water source and take in your hose. Internally, wrapping your pipes is a recommended precaution to take.

Heating System:

Annual checks are vital in avoiding dangers such as house fires. Replace filters if you use a furnace and clear out any vents and ducts that carry heat through them. If you have baseboard heat, wipe them of dust and remove any debris that might catch fire.

Fireplace & Wood Burning Stoves:

Make sure to have chimneys and air vents cleaned early in the season if you are planning on warming your home with a wood-burning source. When your fireplace is not in use make sure to close the damper, some resources estimate an open damper can increase energy consumption by as much as 30%, increasing your bill about $200.

Outside: 

Bring your patio furniture inside or cover it for the winter. Don’t forget other, smaller items such as your tools, including the hose and planting pots. Clear out any piles around the side of your house, checking for cracks and holes in your home and foundation as you go so to avoid providing shelter for unwelcome guests over the cold season.

If your property has large trees check for loose branches and call someone to trim back any limbs that may fall in your yard, on your roof or even damage a window.

Emergency Kit: 

Lastly, make sure your emergency kit is up to date with provisions, batteries, fresh water, food for animals, entertainment for kids – especially if you live in an area prone to power outages.

For a more complete emergency preparedness guide, visit https://www.ready.gov/winter-weather.

Posted on October 14, 2019 at 2:02 am
Sarah Schilz | Category: Uncategorized | Tagged , , , , , , ,

Navigating Downsizing: Everything a Senior Wants to Know

By: Mike Longsdon

There is nothing like enjoying retirement, as it allows us to explore our senior years with a new sense of freedom. After all, we’ve worked hard to get where we are today, and for many of us, it’s the perfect opportunity to discover new interests and hobbies. Of course, downsizing can be a large part of finding more time for this adventure, especially when purchasing a new home. Here’s some information to keep in mind during the process.

How Downsizing Can Improve Your Golden Years

Often, having a larger home in our golden years just doesn’t make sense. When you don’t have as many maintenance- and financial-related responsibilities, you have the opportunity to enjoy spending more time enjoying retirement. In fact, it takes longer each week to keep a larger home clean, as well as more money to maintain it. Both of these factors — time and money — could be better invested in doing things that you enjoy. Of course, there are ways to lower heating and cooling bills, but these tricks take work and time. At the end of the day, it’s worth considering downsizing and moving into the home of your dreams instead.

Exploring New Cities and Areas

This is the perfect opportunity to relocate to somewhere you’ve thought about your whole life. Still, we can’t just pack our bags and hit the road, so begin by doing your homework. When thinking of a specific city, you have to consider its weather, cost of living, quality of healthcare, and how active its senior community is. Then again, if it’s been a goal to explore another country, such as France, Spain, or Italy, your budget could go further. Indeed, there are plenty of places where you can not just survive, but thrive, on less than $3,000 a month.

Finding the Best Home for You

An accessible-ready home will be your best bet, but if you fall in love with a two-story home in need of a little renovation, you can still make it work. For instance, you might keep your bedroom on the ground floor, especially if there is a bathroom on that level. Moreover, you could also install a chairlift on the stairs to make things safe and provide easy access. Otherwise, prioritize homes that allow you to age comfortably. In particular, look for light switches that are easy-touch and 48 inches from the ground, hallways and rooms with walkways wide enough for mobility aids, and no-threshold showers to make bathing safe and effortless. If modifications are going to be a must, be sure to get a general idea of a home’s value so you know what you can expect to spend on the house, making it easier to budget for necessary upgrades. In Fort Collins, homes are currently selling for an average of around $399,000, but you can find a smaller-sized home for less.

Packing, Moving Day, and Organizing

To make moving day as easy as possible, the best thing you can do is declutter and donate any items you no longer need. This may seem difficult at first, particularly when we are attached to stuff no longer used, but remind yourself that memory associated with it is the most important. So, use it one last time, take a picture, and let it go. Without boxes bulging with possessions, packing and transportation will be much easier. As you do pack, don’t go room by room; instead, pack by category to keep similar items together. Lastly, to ensure moving day itself is as painless as possible, take extra care when researching Fort Collins moving companies. After all, you want to have faith that the movers will get your goods to your destination safely.

Finding a New Rhythm

A new house brings new routines, and the transition can sometimes be difficult. However, having an organized home can make things smoother, so don’t put off unpacking. When you arrive, do the main parts of your kitchen, enough to cook a few meals, then set up your bedroom. There’s nothing more priceless than having a place you can retreat to, so invest your energy here. Then, you can take your time and really think about where you’d like everything to go to make your home the sanctuary it should be.

Don’t let your house be a reason you don’t have the independence you deserve. With fewer chores and expenses, you’ll have a greater ability to find new sources of joy at this stage of life. A smaller home can open opportunities you might not have realized were available.

Image courtesy of Pixabay

Posted on October 14, 2019 at 1:47 am
Sarah Schilz | Category: Uncategorized | Tagged , , , , , , ,

How to Choose the Right Moving Company

Choosing between moving companies can be a difficult task: you need a reliable company that can do the work at a price that won’t break your bank. There are many companies on the market and with so many scams and bad experiences surrounding the industry, it is important to make sure you are choosing a reliable and vetted company.

Here are three tips when choosing a moving company:

  1. Check their online reputation
  2. Make sure they are transparent with the services they provide and what they do not provide
  3. Quality of service – for example, are they willing to come to your home and provide an in-home estimate?

For more information on the moving industry and choosing a reliable mover, please review this guide from Consumers Advocate: https://www.consumersadvocate.org/moving-companies

Posted on October 13, 2019 at 6:07 pm
Sarah Schilz | Category: Uncategorized | Tagged , , , , ,

So how much real estate is sold in Northern Colorado?

As it turns out, a lot!

Last month alone there were 1,099 single family homes that sold in Larimer and Weld Counties

The average price was $429,144 which means the total sales volume for one month was $471,629,129 (almost a half a billion)!

Over the last 12 months, just over $4.5 billion worth of single-family homes have sold.

That’s a lot of real estate!

 

Posted on August 16, 2019 at 8:52 pm
Sarah Schilz | Category: Fort Collins Real Estate, News, Northern Colorado Real Estate | Tagged , , ,

2019 Economic and Housing Forecast

What a year it has been for both the U.S. economy and the national housing market. After several years of above-average economic and home price growth, 2018 marked the start of a slowdown in the residential real estate market. As the year comes to a close, it’s time for me to dust off my crystal ball to see what we can expect in 2019.

The U.S. Economy

Despite the turbulence that the ongoing trade wars with China are causing, I still expect the U.S. economy to have one more year of relatively solid growth before we likely enter a recession in 2020. Yes, it’s the dreaded “R” word, but before you panic, there are some things to bear in mind.

Firstly, any cyclical downturn will not be driven by housing.  Although it is almost impossible to predict exactly what will be the “straw that breaks the camel’s back”, I believe it will likely be caused by one of the following three things: an ongoing trade war, the Federal Reserve raising interest rates too quickly, or excessive corporate debt levels. That said, we still have another year of solid growth ahead of us, so I think it’s more important to focus on 2019 for now.

The U.S. Housing Market

Existing Home Sales

This paper is being written well before the year-end numbers come out, but I expect 2018 home sales will be about 3.5% lower than the prior year. Sales started to slow last spring as we breached affordability limits and more homes came on the market.  In 2019, I anticipate that home sales will rebound modestly and rise by 1.9% to a little over 5.4 million units.

Existing Home Prices

We will likely end 2018 with a median home price of about $260,000 – up 5.4% from 2017.  In 2019 I expect prices to continue rising, but at a slower rate as we move toward a more balanced housing market. I’m forecasting the median home price to increase by 4.4% as rising mortgage rates continue to act as a headwind to home price growth.

New Home Sales

In a somewhat similar manner to existing home sales, new home sales started to slow in the spring of 2018, but the overall trend has been positive since 2011. I expect that to continue in 2019 with sales increasing by 6.9% to 695,000 units – the highest level seen since 2007.

That being said, the level of new construction remains well below the long-term average. Builders continue to struggle with land, labor, and material costs, and this is an issue that is not likely to be solved in 2019. Furthermore, these constraints are forcing developers to primarily build higher-priced homes, which does little to meet the substantial demand by first-time buyers.

Mortgage Rates

In last year’s forecast, I suggested that 5% interest rates would be a 2019 story, not a 2018 story. This prediction has proven accurate with the average 30-year conforming rates measured at 4.87% in November, and highly unlikely to breach the 5% barrier before the end of the year.

In 2019, I expect interest rates to continue trending higher, but we may see periods of modest contraction or levelling.  We will likely end the year with the 30-year fixed rate at around 5.7%, which means that 6% interest rates are more apt to be a 2020 story.

I also believe that non-conforming (or jumbo) rates will remain remarkably competitive. Banks appear to be comfortable with the risk and ultimately, the return, that this product offers, so expect jumbo loan yields to track conforming loans quite closely.

Conclusions

There are still voices out there that seem to suggest the housing market is headed for calamity and that another housing bubble is forming, or in some cases, is already deflating.  In all the data that I review, I just don’t see this happening. Credit quality for new mortgage holders remains very high and the median down payment (as a percentage of home price) is at its highest level since 2004.

That is not to say that there aren’t several markets around the country that are overpriced, but just because a market is overvalued, does not mean that a bubble is in place. It simply means that forward price growth in these markets will be lower to allow income levels to rise sufficiently.

Finally, if there is a big story for 2019, I believe it will be the ongoing resurgence of first-time buyers. While these buyers face challenges regarding student debt and the ability to save for a down payment, they are definitely on the comeback and likely to purchase more homes next year than any other buyer demographic.

Originally published on Inman News.

Posted on February 15, 2019 at 7:07 pm
Sarah Schilz | Category: Fort Collins Real Estate, News, Northern Colorado Real Estate, Sales | Tagged , , , , , , ,

Five Ways to Incorporate Pantone’s ‘Living Coral’ Into Your Home

Photo Credit: Pantone Color Institute

Design inspiration comes in many forms, but few carry the cache of the Pantone Color of the Year. For two decades, the Pantone Color Institute has convened to debate and determine an appropriate color that represents the current times. In a tradition harkening to the pageantry and mystique of secret societies, biannual meetings are held in private by color and design experts to determine the appropriate shade for the upcoming year. Through this deliberation, we have been delivered our next design baseline: the 2019 Pantone Color of the Year is Living Coral.

Living Coral is a mesmerizing pinkish hue with a light base that makes it a spectacular pairing with a variety of other options. Evoking the way natural coral often forms a basis for entire, vibrant ecosystems, Living Coral seeks to be eye-catching, while simultaneously drawing attention to what surrounds it. So how can Living Coral be best incorporated into your home this year? We have a few ideas.

 

Accent Furniture

Photo Credit: Fresh Idees on Pinterest

It can be overwhelming to dive headlong into an entire stylistic renovation. Even a single feature, like a Living Coral colored chair or settee can brighten a space.

 

Entryway and Living Room Walls

Photo Credit: France and Son on Pinterest

Make a bold first impression by inviting guests into a space that is framed by Living Coral walls on every side.

 

Subtle Accessories

Photo Credit: HoneyComb Studio on Pinterest

Any room can be brightened by a touch of Living Coral. From coral curtains to stylish gilded vases and accent pillows, there are numerous ways, great and small, to sprinkle this seaside shade throughout your home.

 

Accent Wall

Photo Credit: Krista4Coral on Instagram

One of our favorite interior design trends pairs perfectly with Pantone’s 2019 selection. Coating one wall with Living Coral is a great way to accent a space without committing to painting an entire room.

 

Brightened Door

Photo Credit: DesignStudio039 on Instagram

Whether gracing your front door or a unique space in your home, Living Coral inspires an optimistic feeling for what lies beyond.

Do you plan to incorporate Living Coral into your home this year? We’d love to hear about it!

Posted on February 13, 2019 at 11:53 pm
Sarah Schilz | Category: Fort Collins Real Estate, News, Northern Colorado Real Estate, Sales | Tagged , , , , , ,