Relocating to Colorado?

As a Colorado native🗻, I know the areas and neighborhoods well. I can be your guide when it comes to relocating and I’ll help you through the entire process from start to finish.


Posted on June 3, 2020 at 6:00 am
Tammy Fisher | Posted in Buying a Home, Loveland Real Estate, Loveland Real Estate Agent, Real Estate Agent | Tagged , , ,

Top Reasons to Own Your Home

Top Reasons to Own Your Home [INFOGRAPHIC] | Keeping Current Matters

Some Highlights

  • June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home.
  • If you’re in a position to buy, homeownership might help you find the stability, community, and comfort you’ve been searching for this year.
  • Reach out to a local real estate professional today to determine if homeownership is the right next step for you and your family.

https://www.keepingcurrentmatters.com/2020/05/29/top-reasons-to-own-your-home-infographic-2/


Posted on June 1, 2020 at 6:00 am
Tammy Fisher | Posted in Home Ownership, Owning a Home, Real Estate Agent | Tagged , , , , ,

Loving Loveland

A beautiful Memorial Day at Lon Hagler Reservoir.  We are blessed!


Posted on May 29, 2020 at 6:00 am
Tammy Fisher | Posted in Grateful, Grateful Realtor, Gratefulness, Loveland Real Estate | Tagged , , ,

Will Home Values Appreciate or Depreciate in 2020?

Will Home Values Appreciate or Depreciate in 2020?

With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.

Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand) during this pandemic.

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”Will Home Values Appreciate or Depreciate in 2020? | Keeping Current MattersThe darker the blue, the stronger the demand for homes is in that area. The survey shows that in 34 of the 50 U.S. states, buyer demand is now ‘strong’ and 16 of the 50 states have a ‘stable’ demand.

Seller Supply

The index also asks: “How would you rate seller traffic in your area?”Will Home Values Appreciate or Depreciate in 2020? | Keeping Current MattersAs the map above indicates, 46 states and Washington, D.C. reported ‘weak’ seller traffic, 3 states reported ‘stable’ seller traffic, and 1 state reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the needs of buyers looking for homes right now.

With demand still stronger than supply, home values should not depreciate.

What are the experts saying?

Here are the thoughts of three industry experts on the subject:

Ivy Zelman:

“We note that inventory as a percent of households sits at the lowest level ever, something we believe will limit the overall degree of home price pressure through the year.”

Mark Fleming, Chief Economist, First American:

“Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.”

Freddie Mac:

“Two forces prevent a collapse in house prices. First, as we indicated in our earlier research report, U.S. housing markets face a large supply deficit. Second, population growth and pent up household formations provide a tailwind to housing demand.”

Bottom Line

Looking at these maps and listening to the experts, it seems that prices will remain stable throughout 2020. If you’re thinking about listing your home, connect with a local real estate professional who can help you capitalize on the somewhat surprising demand in the market now.

https://www.keepingcurrentmatters.com/2020/05/11/will-home-values-appreciate-or-depreciate-in-2020/


Posted on May 28, 2020 at 7:05 pm
Tammy Fisher | Posted in Buying a Home, Ecomony, Home Prices, Housing Market | Tagged , ,

Housing Market Positioned to Bring Back the Economy

Housing Market Positioned to Bring Back the Economy

All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary.

Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to regain its strength. This time, the housing market was in great shape when the virus hit.

As Mark Fleming, Chief Economist of First Americanrecently explained:

“Many still bear scars from the Great Recession and may expect the housing market to follow a similar trajectory in response to the coronavirus outbreak. But, there are distinct differences that indicate the housing market may follow a much different path. While housing led the recession in 2008-2009, this time it may be poised to bring us out of it.”

Fleming is not the only economist who believes this. Last week, Dr. Frank Nothaft, Chief Economist for CoreLogic, (@DrFrankNothaft) tweeted:

“For the first 6 decades after WWII, the housing sector led the rest of the economy out of each recession. Expect it to do so this time as well.”

And, Robert Dietz, Chief Economist for the National Association of Home Builders, in an economic update last week explained:

“As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession underbuilt, not overbuilt…Based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units.”

Bottom Line

Every time a home is sold it has a tremendous financial impact on local economies. As the real estate market continues its recovery, it will act as a strong tailwind to the overall national economy.

https://www.keepingcurrentmatters.com/2020/05/19/housing-market-positioned-to-bring-back-the-economy/

 


Posted on May 26, 2020 at 7:56 pm
Tammy Fisher | Posted in Ecomony, Housing Market, Real Estate Agent, Real Estate Market | Tagged , ,

Faster

Here’s something true about today’s market.  Properties are selling fast.

Compared to one year ago, the number of days it takes for a property to sell is significantly lower.

The industry term is “Days on Market” or DOM.

DOM is way down.

Here is the comparison of May 2020 versus May 2019:

  • Metro Denver down 22%
  • Larimer County down 19%
  • Weld County down 16%

Initially, this may seem counter-intuitive.  How could homes be selling faster in today’s environment?

Here’s the deal.  The buyers and sellers who are active in today’s market are serious.

There really aren’t ‘tire-kicker’ buyers out looking at properties just for the fun of it.

There really aren’t sellers testing the market to ‘see what they can get.’

For the most part, buyers and sellers are on a specific mission and this mindset is showing up in the numbers.

For sellers especially, this is no time to test the market and be overly aggressive on price.

Properties that are priced right and in good condition are selling and often selling fast.

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously.  Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.


Posted on May 22, 2020 at 3:36 pm
Tammy Fisher | Posted in Home Buying, Housing Market, Loveland Real Estate, Loveland Real Estate Agent | Tagged , , , ,

Unemployment: Hope on the Horizon

Unemployment: Hope on the Horizon

Tomorrow, the unemployment rate for April 2020 will be released by the U.S. Bureau of Labor Statistics. It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic slowdown. The numbers will alarm us. There will be headlines and doomsday scenarios in the media. There is hope, though, that as businesses reopen, most people will become employed again soon.

Last month’s report indicated we initially lost over 700,000 jobs in this country, and the unemployment rate quickly rose to 4.4%. With the release of the new data, that number will climb even higher. Experts forecast this report will show somewhere between a 15% – 20% national unemployment rate, and some anticipate that number to be even greater (see graph below):Unemployment: Hope on the Horizon | Keeping Current Matters

What’s happened over the last several weeks? 

Here’s a breakdown of this spring’s weekly unemployment filings:Unemployment: Hope on the Horizon | Keeping Current MattersThe good news shown here indicates the number of additional unemployment claims has decreased week over week since the beginning of April. Carlos Rodriguez, CEO of Automatic Data Processing (ADP) says based on what he’s seeing:

“It’s possible that companies are already anticipating some kind of normalization, opening in certain states and starting to post jobs.” 

He goes on to say that this doesn’t mean all companies are hiring, but it could mean they are at the point where they’re not cutting jobs anymore. Let’s hope this trend continues.

What will the future bring?

Most experts predict that while unemployment is high right now, it won’t be that way for long. The length of unemployment during this crisis is projected to be significantly shorter than the duration seen in the Great Recession and the Great Depression.Unemployment: Hope on the Horizon | Keeping Current MattersWhile forecasts may be high, the numbers are trending down and the length of time isn’t expected to last forever.

Bottom Line

Don’t let the headlines rattle you. There’s hope coming as we start to safely reopen businesses throughout the country. Unemployment affects our families, our businesses, and our country. Our job is to rally around those impacted and do our part to support them through this time.

https://www.keepingcurrentmatters.com/2020/05/07/unemployment-hope-on-the-horizon/

 


Posted on May 20, 2020 at 6:00 am
Tammy Fisher | Posted in Ecomony, Housing Market, Unemployment | Tagged , , ,

Pent UP Demand

We notice a very interesting dynamic in the market right now.

There was clearly a pent-up real estate demand created during the recent time when in-person showings were not allowed.  The numbers back it up.

First, a little background.  During a portion of “Shelter in Place,” all in-person viewing of properties ceased.  Instead, buyers spent time online viewing virtual tours and 3-D photography.

Even though clients could view homes virtually, purchase activity did slow down.

Today, showings are allowed again as long as clear protocols are followed.  We’ve implemented a Safe Showings program to keep our clients protected.

Now, to the numbers.

Through the first two weeks of May 2020, the number of closed properties is down compared to the same time period in 2019.

In most cases these closed properties are a result of purchase agreements that were written in April- a time when in-person showings were restricted.

So, a decrease in closings was expected.

However, the number of new written contracts so far this month is up considerably compared to the same time frame last year.

Specifically,

  • Metro Denver closed properties down 47%
  • Metro Denver new contracts up 6%
  • Northern Colorado closed properties down 41%
  • Northern Colorado new contracts up 19%

So, buyer activity is up compared to last year, even in our current environment.

This speaks to the resiliency of our market and the effect of low interest rates.


Posted on May 18, 2020 at 6:00 am
Tammy Fisher | Posted in Buying a Home, Home Buying, Housing Market, Purchasing a Home, Real Estate Agent | Tagged , , ,

Why Home Equity Is a Bright Spark in the Housing Market

Why Home Equity Is a Bright Spark in the Housing Market

Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down what unemployment means for homeownership, and understanding the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty.

One of the biggest questions right now is whether this historic unemployment rate will initiate a new surge of foreclosures in the market. It’s a very real fear. Despite the staggering number of claims, there are actually many reasons why we won’t see a significant number of foreclosures like we did during the housing crash twelve years ago. The amount of equity homeowners have today is a leading differentiator in the current market.

Today, according to John Burns Consulting58.7% of homes in the U.S. have at least 60% equity. That number is drastically different than it was in 2008 when the housing bubble burst. The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth. Homeowners simply walked away at that point. Now, 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear. Those homes are not at risk for foreclosure (see graph below):Why Home Equity is a Bright Spark in the Housing Market | Keeping Current MattersIn addition, CoreLogic notes the average equity mortgaged homes have today is $177,000. That’s a significant amount that homeowners won’t be stepping away from, even in today’s economy (see chart below):Why Home Equity is a Bright Spark in the Housing Market | Keeping Current MattersIn essence, the amount of equity homeowners have today positions them to be in a much better place than they were in 2008.

Bottom Line

The fear and uncertainty we feel right now are very real, and this is not going to be easy. We can, however, see strength in our current market through homeowner equity that has not been there in the past. That may be a bright spark to help us make it through.

https://www.keepingcurrentmatters.com/2020/05/06/why-home-equity-is-a-bright-spark-in-the-housing-market/


Posted on May 13, 2020 at 6:00 am
Tammy Fisher | Posted in Ecomony, Homeownership, Housing Market | Tagged , , ,

Locks of Love Sculpture at Lake Loveland

One of two love lock sculptures in Loveland, where families and loved ones can lock their love for each other, is now located at Lake Loveland.  It has a grid on the back where engraved love locks can be placed.  They can be purchased at the Loveland Visitor’s Center.  This photo was taken at dusk.  Love Loveland!


Posted on May 12, 2020 at 8:58 pm
Tammy Fisher | Posted in Loveland Real Estate, Loveland Real Estate Agent, Real Estate Agent, Selling in Northern Colorado | Tagged , ,