A Look Back

Here are some fun facts about 2017…

(By the way, be sure to RSVP for our Market Forecast on January 18th so you can hear our predictions for next year. Click HERE to register)

In 2017:

  • $4.6 billion of residential real estate was sold in Larimer and Weld Counties.  ($2.8 in Larimer and $1.8 in Weld).  This volume is double what is was in 2012.
  • There were 7,091 residential sales in Larimer County and 5,442, in Weld County.
  • On average, it took 53 days to sell a home in Larimer County and 49 days in Weld County.  In 2012 it took about 25 days longer to sell a home.

To hear our predictions for the 2018 market, join our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com


Posted on January 5, 2018 at 2:10 pm
Eric Thompson | Posted in Uncategorized |

What it Means

The new tax bill is expected to be signed by the end of the year.  Here is a summary of what it means for your real estate…

(By the way, be sure to RSVP for our Market Forecast on January 18th so you can hear our predictions for next year.  Click HERE to register)

The new tax bill:

  • Retains the current law for exclusion of capital gains on a principal residence.  You still need to live in a home for 2 of the last 5 years to claim a capital gains exclusion.  There was a risk that this would be changed to 5 of the last 8 years, but thankfully it did not.
  • Reduces the limit of deductible mortgage debt from $1 Million to $750,000.
  • Retains the ability to deduct mortgage debt on second homes.
  • Allows for an itemized deduction of up to $10,000 for property taxes.  When the bill was first introduced, there was no allowance for a property tax deduction.
  • Retains the current 1031 like-kind exchange rules which is terrific news for investors.

To hear our predictions for the 2018 market, join our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com


Posted on December 22, 2017 at 1:43 pm
Eric Thompson | Posted in Uncategorized |

Rate Recap

The Federal Reserve raised interest rates by 0.25% this week.  It was their 3rd rate increase this year.

This has us thinking about mortgage rates.

Today, 30-year mortgage rates are 3.93%.

Let’s put this in context with  a little history lesson.  Mortgage rates were…

  • 3.90% 6 months ago
  • 4.13% 1 year ago
  • 3.54% 18 months ago
  • 3.32% 5 years ago
  • 5.96% 10 years ago
  • 7.15% 20 years ago

So where are rates headed?  Given that the Federal Reserve is expected to raise their rate three to four more times in 2018, we expect mortgage rates to be higher one year from today.

The Mortgage Bankers Association predicts rates to be 4.8% in the 4th quarter of next year.  Freddie Mac’s prediction is 4.4%.  If these predictions are true, that would mean mortgage rates would be back to where there were 6 to 7 years ago.

To hear our predictions for the 2018 market, join our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com


Posted on December 15, 2017 at 1:47 pm
Eric Thompson | Posted in Uncategorized |

Get Real

A story ran this week which highlighted the number of people who have moved out of Colorado.

Let’s get real, there are still a large number of people moving to Colorado.

In fact, 223,000 moved to Colorado from another state last year according to the latest American Community Survey from the U.S. Census Bureau.

The net migration into our state (after subtracting out people who left) was 30,859 people.

In Northern Colorado the net migration looks like this:

  • Larimer County = 7,001 people
  • Weld County = 7,117 people

So what does that mean for housing? Knowing that, on average, 2.5 people live in each household, the number of new housing units required for these new residents looks like this:

  • Larimer County = 2,800 new housing units
  • Weld County = 2,847 new housing units

Save the date for our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com


Posted on December 8, 2017 at 1:40 pm
Eric Thompson | Posted in Uncategorized |

Turnover Rate?

A key statistic in residential real estate is the turnover rate. In a neighborhood of 100 homes, how many are likely to sell in the next year?

We’ve just done the research for both Larimer and Weld County. The turnover rate for both of these locations is roughly 8.5%.

In Larimer County there are approximately 80,000 owner occupied households and in the last year there have been approximately 7,000 sales of those homes. In Weld County the numbers are 67,000 households and 5,500 sales.

So, in that hypothetical Northern Colorado neighborhood of 100 homes, 8 to 9 of them will sell in the next year.

A couple interesting points about this turnover rate…

  • It has dropped from a few years ago when it was closer to 10% which means that people in Northern Colorado are staying in their homes a bit longer
  • It is slightly lower than the national average of 10% according to the National Association of Realtors

Save the date for our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com


Posted on December 1, 2017 at 2:47 pm
Eric Thompson | Posted in Uncategorized |

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