EcomonyHousing MarketReal Estate Market August 3, 2020

Mondays with Matthew

Housing MarketLarimer County Real EstateNorthern Colorado Real EstateReal Estate AgentReal Estate Market June 10, 2020

Larimer County Snapshot June 1st – June 7th

Housing MarketNorthern Colorado Real EstateReal Estate Market March 28, 2020

Leading Indicator

We are watching close to see where the real estate market is headed. Anecdotally we can tell you that the vast majority of transactions that are under contract are still closing. We have seen very few transactions cancel because of employment issues or the wild swings of the stock market.

An interesting leading indicator was announced this week that sheds some light as to where the market is headed. Each week the Mortgage Bankers Association releases their index which tracks new mortgage applications.

They track both purchase applications and refinance applications. To no one’s surprise, the index was down this week but not as much as you may have guessed.

New purchase applications were down 11% compared to the same week this last year. Refinance activity fell more sharply, down 34%.

This is a statistic we will watch closely as time goes on.

Each week our Chief Economist produces a video with the latest on the national economy and the housing market. Reach out to us if you would like to see that video.

Northern Colorado Real EstateReal Estate MarketSelling Your Home November 8, 2019

Why You Need a Relevant Informed Market Opinion

Rumor has it we’re heading into a recession, and everyone is talking about it.

When it comes to real estate, the unease linked to that word poses a number of important questions for buyers, sellers, and agents.

  • When will it hit?
  • Will it affect the housing market?
  • Is now the right time to buy/sell?

These are important topics you should be covering with your clients.

More importantly, you should have the facts and sources to back up your opinions.

In a recent Facebook Live with KCM founder, Steve Harney, and leading mortgage lender expert, Jim McMahan, the two discussed the importance of reliable sources and getting the truth out.

Here’s why it’s so important.

DO YOU HAVE AN INFORMED OPINION?

If you don’t already have an informed opinion, now is the time to get one. Many potential buyers or sellers may be making rash and emotional decisions based on sensationalist media headlines.

Instead of letting them just take your word for it, show them the facts.

This is also a great opportunity to step up and become a leading voice in your local market.

HOW DO YOU DEVELOP AN INFORMED OPINION?

If you’re just skimming headlines, your wires could be getting crossed.

By staying informed through a variety of reliable sources, you’re able to form a relevant, valuable market opinion that you can then relay to your clients.

“Any fool can know. The point is to understand.” – Albert Einstein

You know how the saying goes. Everybody’s got an opinion.

This is an important time in the market, and those who aren’t keeping up with the news are missing out on important conversations.

By taking the time to not only know but understand the market conditions, you’re building a reputation as a real estate agent that cares. Checking out the daily KCM Blog is a great way to help you do that. If you want to dig a little deeper, sign up to receive our Monthly Market Report.

STOP THE RUMORS. SPREAD THE WORD.

Getting ahead of the rumors is the best way to put out the fires already spreading.

Talk about it on social media, share articles, send emails and openly communicate to your clients whenever you get the chance.

Changing the narrative is an important part of soothing suspicions and spreading the good news to those who may otherwise not know, clients and competitors alike.

These are the principles Keeping Current Matters were founded on over a decade ago in the wake of the 2008 housing crisis. For the past 11 years, we’ve been helping real estate professionals simply and effectively communicate the market’s facts to help families feel confident when buying and selling a home.

Bottom Line

With the upcoming election, we’re going to see some shifts in our news and media focuses. You can squash a lot of uncertainties and build a relevant and valuable market opinion by taking the time to do your research.

kCM buyer and seller guides

Gather information from various, reliable sources and continue to follow what’s happening now and what’s predicted to happen in the near future.

 

Loveland Real EstateNorthern Colorado Real EstateReal Estate Market October 30, 2019

Core Logic Homeowner Equity Insights Report

The real estate research firm Core Logic just produced their latest Homeowner Equity Insights report.

 

 

 

Some interesting tidbits:

·         63% of all properties nationally have a mortgage

·         Homeowners with mortgages collectively realized a $428 billion rise in equity over last year, an increase of 4.8%

·         Only 3.8% of all mortgaged properties have negative equity (where the loan is greater than the value of the home)

·         10 years ago 26% of all mortgaged properties had negative equity

Loveland Real EstateNorthern Colorado Real EstateReal Estate Market October 28, 2019

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

If you want to see even more insights about the Colorado market so that you can make really good decisions about your real estate, you are welcome to watch this complimentary webinar, just click HERE.

Loveland Real EstateNew HomeNorthern Colorado Real EstateReal Estate AgentReal Estate MarketSelling Your Home October 16, 2019

Reduced

Some fascinating research from the Denver Metro Association of Realtors…

37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period.

Property owners who have to reduce their price take an average of 58 days to receive an offer.

Those who don’t have to reduce their price only take 13 days.

This stat obviously speaks to the importance of pricing your property right on day one.

New HomeNorthern Colorado Real EstateSelling Your Home October 13, 2019

The Impact of Staging Your Home

For more than 20 years, the benefits of staging a home have been well documented. Numerous studies show that staging helps sell a home faster and for a higher price. According to the National Association of REALTORS®, 88 percent of home buyers start their search online, forming impressions within three seconds of viewing a listing. When a home is well staged, it photographs well and makes the kind of the first impression that encourages buyers to take the next step.

Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, but it also helps them begin to imagine living there. Homes that are professionally staged look more “move-in ready” and that makes them far more appealing to potential buyers.

According to the Village Voice, staged homes sell in one-third less time than non-staged homes. Staged homes can also command higher prices than non-staged homes. Data compiled by the U.S. Department of Housing and Urban Development indicate that staged homes sell for approximately 17 percent more than non-staged homes.

A measurable difference in time and money

In a study conducted by the Real Estate Staging Association in 2007, a group of vacant homes that had remained unsold for an average of 131 days were taken off the market, staged, and relisted. The newly staged properties sold, on average, in just 42 days, – which is approximately 68 percent less time on the market.

The study was repeated in 2011, in a more challenging market, and the numbers were even more dramatic. Vacant homes that were previously on the market for an average of 156 days as unstaged properties, when listed again as staged properties, sold after an average of 42 days—an average of 73 percent less time on the market.

Small investments, big potential returns

Staging is a powerful advantage when selling your home, but that’s not the only reason to do it. Staging uncovers problems that need to be addressed, repairs that need to be made, and upgrades that should be undertaken. For a relatively small investment of time and money, you can reap big returns. Staged properties are more inviting, and that inspires the kind of peace-of-mind that gets buyers to sign on the dotted line. In the age of social media, a well-staged home is a home that stands out, gets shared, and sticks in people’s minds.

What’s more, the investment in staging can bring a higher price. According to the National Association of REALTORS, the average staging investment is between one percent and three percent of the home’s asking price, and typically generates a return of eight to ten percent.

In short, less time on the market and higher selling prices make the small cost of staging your home a wise investment.

Interested in learning more? Contact your real estate agent for information about the value of staging and referrals for professional home stagers.

Uncategorized September 18, 2019

Rate Bounce

Rates hit near-historic lows this week and are now at 3.49% for a 30-year mortgage.

There have only been two other times in history when rates have been this low- April 2013 and October 2016.

It’s interesting to see what happened soon after bottoming out these last two times.

In April of 2013 rates hit 3.41%. By August 2013 they had jumped to 4.40%.

Rates bottomed again in October 2016 at 3.42%. Just two months later in December 2016 they were 4.32%.

Each time the increase was nearly 1% within just a few months.

So, if history proves itself as a guide, we can’t expect these rates to last for long.

Northern Colorado Real EstateReal Estate Market September 16, 2019

How’s The Market

– Are prices still going up?
– Is there a housing bubble?
– Will interest rates ever go up?
– Is now a good time to buy or sell?
– Where are all these people coming from?

Please reach out to me today if you have any additional questions or wish to receive a complimentary home pricing analysis.