October KEVCO Newsletter

Newsletter – October 2014

September KEVCO Newsletter

Newsletter – September 2014

NAR Leadership Summit Recap From Chicago

NAR Building in Chicago

NAR Building in Chicago

I got back last night from this trip representing the Fort Collins Board of REALTORS as the 2015 Chair. It was fantastic to get to see the Association Staff and REALTORS that I met in Washington D.C. in May again, and build those relationships on behalf of my board and my clients. If you need a referral for anywhere in the country, please let me know as I have become friends with top producing agents in almost every state.

YPN Leadership Summit

YPN Leadership Summit

How does my trip to Chicago help you? In a few of different ways. First, you can be assured if you are buying outside of the Northern Colorado area, I will be able to connect you with a top agent in that community, maximizing  your chances of an awesome experience buying a home! Second, I brought home new ways to market your listing, to get homes sold more quickly. You can be assured that the marketing of your home will be extensive and effective, which is important in this ever changing real estate market in Fort Collins. Finally, I learned ways to increase my productivity on the “behind the scenes” part of my business, which will make me more available to show you homes as a buyer and meet with you to get your home listed as a seller.

Call me and I would to go over some of the ways I learned that I can help you or someone you know who may be getting in to the real estate market. Have a great week!

August KEVCO Newsletter

Interested in the Fort Collins real estate market? Check out our newsletter to learn more!

Newsletter – August 2014

Absorption Rate and Inventory

sold_signWell here we go again, homes are being absorbed into the market even faster than they were back in April! Absorption rate is the time it would take to sell all of the homes on the market today, kind of a balance sheet snapshot of inventory vs speed of sale. The interesting thing is that new listings are about the same, so the homes that are hitting the market are selling even more quickly. Instead of an absorption rate of 3.12 months in April, we are down to 1.46 months, a HUGE change. A lot of this can be attributed to the under $300,000 market moving so quickly as buyers clamor to get the remaining affordable homes in Fort Collins, but homes are still moving much more quickly even in the upper price ranges than a balanced market would usually allow for.

What to do with this information? Basically, as a buyer you need me to be proactive in searching for homes for you, and need to be ready to make very fast decisions on making an offer. This means being pre qualified and ready to go at a moment’s notice. As a seller, if you own a home in the under $300,000 price range and have considered selling, now is the time.

I hope you all have a great week, and as always please give me a call if you or anyone you know is in need of real estate help!

Crazy 2014 Real Estate Market Update

Getting-Your-Charlotte-Home-SOLD

2014 continues to be a record year, in many different ways. As a buyer or a seller, we are seeing trends in the market that we have not seen in the last decade at least. There are opportunities on both sides of the transaction, but you need to be very focused on how to take advantage of those opportunities.

What I think everyone and their mother knows by now is that inventory is low. As in, crazy low. But an interesting statistic is that pending or under contract sales are down 27.5 percent year to date, and new listings (while still lower than last year) are down only 5.5 percent. What that tells me is that the good properties that are priced well have been picked over, and we are starting to see more listings come on the market that may be over priced as sellers are trying to catch the wave of appreciation. Don’t get me wrong, appreciation has CERTAINLY occurred with the average sales price up 8.4 percent year to date at $311,979 for Fort Collins. But, I think there are more and more sellers (and correspondingly their brokers) who are taking a “let’s see if we can get it” type mentality. While I am happy to help you as a seller get the premium for your home, I think pricing accordingly to your appreciation and not just a gut feeling is important.

On the buying side, with interest rates still low, taking advantage of the properties that are priced appropriately still makes sense in the long term. Year to date the average percentage of sold price to list price is right at 99%, so understanding that beating sellers up on price if they are even remotely close to where they should be on price is in most cases not feasible. As long as you as a buyer are willing to move quickly on good homes and have all of your financing in order, then I still think it is possible for you to find the right home.

If you have any questions, or know of anyone looking to buy or sell a home, feel free to contact me anytime!

June KEVCO Newsletter

Newsletter – June 2014

May KEVCO Newsletter

Newsletter – May 2014 copy

Fort Collins Real Estate Market Update

buyers-sellers_street_sign_575

The Fort Collins Real Estate market has definitely been an interesting ride for the last 12-18 months! With properties selling so quickly we have had to be not just ready to show homes and write offers at a minutes notice, but get creative on how I obtain properties to show and sell to my clients.

There is good news though for both buyers and sellers going into the summer. For sellers, homes are still selling quickly and pretty much right at list price (we’re at 98.5 % of list price in Fort Collins so far in 2014). We are still maintaining the appreciation that we’ve seen over the last couple of years, so that is great news for the equity in your home if you are a seller.

On the buying side, there is some good news there as well! Interest rates have stayed low (while not 3% like they were last year, 4.5% is still historically VERY low) which has kept buyer’s purchasing power higher than it was a few years ago. We also have stabilized pricing because if you look at the average sales price percentage increase for 2014 we are at 2.4%. The only issue is that we are creeping up on $300,000 as an average sales price for Fort Collins, we are currently at $292,893. But, with homes sitting on the market a little bit longer, the frenzy should hopefully start to slow at least a little bit. We are at 3.12 months of inventory on the market, where we had been at under 3 months since October of last year. To put that in percentages, homes are sitting on the market 7.1% longer than they were at this same time last year.

There are opportunities for both buyers and sellers right now, so if you or anyone you know are looking to make a move, please give me a call so we can sit down and chat about what might be best for you. Have a great week!

Fix and Flips? A Great Idea, Just Do Them Right

Cash Money!

Cash Money!

So you watched hours of HGTV, and now you want to do a fix and flip. Well, while it might look easy on TV and they always get everything just under the wire, there are some realities of this market that you should be aware of before jumping in to a project.

Fort Collins right now is a strong and healthy market. That’s great for home buyers and sellers, but a little less fantastic for those trying to pick up a deal. If a house is priced even remotely well, then it sells quickly at or above list price with multiple offers. We are still looking at low inventory, even lower than last year. Year over year we are down 8.9% in new listings, as well as down 4% for days on market. This means if a deal pops up on the MLS, it isn’t a deal by the time it is under contract with the highest bidder.

But the news isn’t all bad. If you have a handle on what your remodel and construction costs are going into a project (call me and I can tell you who I recommend for things like this), and know exactly what percentage return you are targeting, then you can make decisions quickly when a remodel opportunity presents itself. The key is to find something before it hits the MLS (I’ve helped buyers find properties by targeting neighborhoods where we have seen good appreciation and the appreciation going forward looks healthy), or even something that comes available on the MLS that is in such bad condition not many buyers could take it on.

These types of deals are few and far between, but if you are interested in learning about the opportunities, please give me a call!