More Choices

Great news for buyers! There are more homes to choose from. It seems there is relief from the days of drastically low inventory levels.

Compared to a year ago, residential inventory levels are up:
• 9% in Northern Colorado (Larimer & Weld Counties)
• 45% in Metro Denver (wow!)

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You can get many more fun facts like these plus get our predictions on the 2019 market by joining our annual Market Forecast. Just click the link below!

https://www.eventbrite.com/o/windermere-real-estate-12011801121

Posted on January 16, 2019 at 1:14 am
John Taylor | Category: For Buyers | Tagged , , , , , , , ,

Waiting and Waiting

Anytime the market cools off we sometimes hear prospective buyers say “I think I’ll wait for the market to correct, then I’ll buy after prices come way down.”

The reality is this… History shows that this wouldn’t be a good strategy.

Our go-to source on price appreciation is the Federal Housing Finance Authority who produces a quarterly home price index.  They have been tracking Larimer County for 41 years.

Their numbers show:

  • Yearly prices have decreased only 6 times in history
  • The average amount of that decrease is only 1.7%

So, someone who is waiting for prices to drop:

  • Might be waiting a long time
  • Might be disappointed that prices didn’t drop by all that much
Posted on December 17, 2018 at 10:34 pm
John Taylor | Category: market news | Tagged , , , , , , , , , , ,

Windermere Hosts Chinese Delegation of Journalists

 

Last week, Windermere Real Estate was honored to host a delegation of top reporters from China as part of the East-West Center’s 2018 US Study Tour for Chinese Journalists. Nine journalists, hailing from Beijing, Chengdu, Chongqing, Hong Kong, and Shanghai, visited Washington D.C., Des Moines, Iowa, and Seattle, Washington over 10 days to study the China-U.S. relationship in trade, security, media, and culture.

Their visit to Seattle connected them with Windermere and our Chief Economist, Matthew Gardner, to lean on his expertise about Seattle’s economy and real estate market. Mr. Gardner discussed the economic influence of Seattle-based companies Amazon and Boeing, as well as other internationally impactful companies like Facebook and Google, both of which have a sizable presence in Seattle. He also discussed the factors that caused the real estate boom of the past half-decade and what we can expect from the housing market in 2019.

Mr. Gardner shared data on the rising percentage of Chinese and East Asian-born individuals making up the population of the greater Seattle area, the factors that have contributed to that number’s rise in recent years, and the impact on our real estate market. Citing the differences between real estate norms and financial realities in much of China compared to Seattle, Mr. Gardner enjoyed a productive dialogue with the visiting delegation of journalists.

Windermere was honored to host the East-West Center’s 2018 US Study Tour for Chinese Journalists and to have the opportunity to discuss the role of Chinese foreign nationals in Seattle’s economy and housing market. As much as we shared, we also enjoyed learning more about China’s housing market and the evolving relationship between our two countries.

Posted on December 5, 2018 at 3:30 pm
John Taylor | Category: #wearewindermere | Tagged , , ,

HQ3?

The Front Range may have lost out on Amazon’s HQ2, but that doesn’t mean their company won’t affect our economy.

Denver was in the running for Amazon’s massive new second headquarters that supposedly would bring 50,000 new high-paying jobs and $5 Billion of investment.

In the end Amazon chose to split the headquarters among two East-Coast cities and many in Colorado breathed a sigh of relief.

But they are will continue to be an economic force in our state.

Over the past two years, Amazon has greatly expanded its footprint in Metro Denver, opening up a sorting center in Aurora, fulfillment centers in Aurora and Thornton, a Prime Now center in Denver and a new delivery center in Centennial.

They will soon have 3,000 workers here and that number is expected to grow significantly.

Posted on November 21, 2018 at 4:13 pm
John Taylor | Category: Economy | Tagged , , , , , , , , , , , , , , ,

83 Miles Per Hour

Pretend you have been driving on the Interstate at 100 miles per hour.

Also, pretend you have been doing that for a long time.

Now pretend you slow down to 83 miles per hour.

How would that feel?

It would probably feel slow, right?

83 miles per hour is a 17% decrease from 100. It may feel slow, but it’s still pretty fast.

How does this relate to real estate?

Well, the market has been moving fast for a long time.

It’s been going 100 miles per hour for at least two years (some would argue even longer).

We’ve recently seen a 17% change in terms of number of transactions that are occurring.

There were 17% fewer sales in October 2018 versus October 2017 in Metro Denver.

It feels slow because we’ve been driving so fast for so long. But, our market is still moving.

For example, prices are still up. So, remember, that it’s all relative.

Posted on November 13, 2018 at 4:16 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , , ,

FUNdamentals

 

In times of change (like now), it’s valuable to look at the fundamentals of our market.

Let’s have some fun with fundamentals…

1.  Our economy is healthy – since 1990, the unemployment rate in Colorado has never been higher than the U.S. unemployment rate.  Ever.  Unemployment in Colorado sits at 2.7% today while the rate across the U.S. is 4.0%.

2.  People keep moving here – since 2005 our population has grown by just over a million people which is roughly 77,000 per year (about the size of Mile High Stadium).

3.  Our real estate outperforms other places – according the Federal Housing Finance Authority, Colorado is the #1 state for home price appreciation since 1990.

Posted on October 30, 2018 at 6:01 pm
John Taylor | Category: Economy | Tagged , , , , , , ,

A History Lesson

One of the most common questions we hear from clients is “Where do you think interest rates are going?”

Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work that are pushing rates higher.

So, how about a little history lesson? How do today’s 30- year mortgage rates compare to this same date in history going all the way back to 1990?

• Today = 4.85%
• 2017 = 3.94%
• 2015 = 3.82%
• 2010 = 4.27%
• 2005 = 5.98%
• 2000 = 7.84%
• 1995 = 7.75%
• 1990 = 10.22%

While today’s rates feel high only because they are higher than 2017, they are quite a bit lower than at many times in history.

Posted on October 23, 2018 at 8:29 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , ,

How We Rank

Here’s how the largest Colorado cities rank on the most recent Federal Housing Finance Authority’s quarterly report.  They study the appreciation rate in 245 metropolitan areas all over the country.

City                        Rank                Appreciation

Boulder                        65th                   8.76%

Colorado Springs      15th                    11.54%

Denver                        30th                    10.16%

Fort Collins                85th                    7.51%

Grand Junction         58th                   9.01%

Greeley                        45th                    9.51%

Posted on September 25, 2018 at 3:30 pm
John Taylor | Category: market news | Tagged , , , , , ,

Unique Opportunity on Main Street in the Windsor Central Business District!

This home at 212 10th St is a phenomenal value as zoning allows for conversion to commercial. Close to schools and shopping. All brick ranch 4 bed 3 bath with attached garage. This home features a large living area and covered back porch. Freshly painted interior and new hardwood floors. Central A/C is not currently working. Call for your private showing at 970-541-1003 for more information or click the link below for more details.

http://realtorjohntaylor.com/listing/82387370

Posted on August 6, 2018 at 4:02 pm
John Taylor | Category: Virtual Tours, Windsor Real Estate | Tagged , , , , , , , , , , , , ,