Ault Real Estate September 26, 2022

Corner Lot on a 1/4 Acre in Ault

312 Linden Oaks Drive is a great ranch style home in a unique little town of Ault. This corner lot home that sits on nearly a 1/4 acre has 5 bedrooms, 3 bathrooms, master has a vaulted ceiling with a walk-in closet, laundry on the main level, hard wood floors, open concept, stainless steel appliances, walk-in pantry, European style cabinetry with 42″ upper cabinets and crown molding, wrap around counter layout for extra seating, 2 large areas in the basement, A/C, gas fireplace, oversized 2 car garage, kids playground, maturing trees, fenced yard. Come take a look at this home and make it your next home. Will not last long. Call (970) 590-4841 to schedule a private tour or click here for more information.

 

Greeley Real Estate September 8, 2022

Well-Maintained Greeley Condo

This amazing, well maintained property is ready for the new owner. 5551 29th Street #212 is a ground level condo with 2 bedrooms, 2 bathrooms, walk-in-closets, gas fireplace, open floor plan, large kitchen with a pantry, washer/dryer, 1 car detached garage, front patio, community pool. Condo is in a great location. Come take a look. Call (970) 590-4841 to schedule a private tour or click here for more information.

 

BlogBuyersColorado Real EstateFriday Fun Facts September 6, 2022

New Rankings

The latest Home Price Index report has just been released by the Federal Housing Finance Authority.

They track home price appreciation for the largest metropolitan areas in the U.S. plus state by state appreciation.

Here is the ranking of the top three states for price growth over the last twelve months:

1.  Florida = 29%

2.  Arizona = 26%

3.  North Carolina = 25%

The bottom three states are:

50.  North Dakota = 10%

49.  Louisiana = 11%

48.  Minnesotta = 11%

Colorado came in at #19 with 18% price growth over the last 12 months.

Eaton Real Estate September 1, 2022

Adorable Ranch Style Gem

Welcome home to 460 Birch Avenue! This beautiful ranch style home that is all brick and provides 4 bedrooms, 2 baths, all wood floors throughout the main level, new updated kitchen, newer refrigerator, windows have been replaced, large living room, total 2436 sq ft with 2106 completed, 2 car garage, mature landscaping, nice large backyard and shed. No HOA or Metro Tax District. This home will not last long, come take a look. Call (970) 590-4841 to schedule a private tour or click here for more information.

BuyersBuyers & SellersColorado Real EstateGreeley Real EstateJohnstown Real EstateSellersSeverance Real EstateWindsor Real Estate August 29, 2022

Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.

But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.

The Challenge

There were many reasons for the limited number of homes on the market during the pandemic, including a history of underbuilding new homes since the market crash in 2008. As the graph below shows, housing supply is well below what the market has seen for most of the past 10 years (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

The Opportunity

But that graph also shows a trend back up in the right direction this year. That’s because moderating demand is slowing the pace of home sales and that’s one of the reasons housing supply is finally able to grow. For you, that means you’ll have more options to choose from, so it shouldn’t be as difficult to find your next home as it has been recently.

And having more options may also lead to less intense bidding wars. Data from the Realtors Confidence Index from the National Association of Realtors (NAR) shows this trend has already begun. In their recent reports, bidding wars are easing month-over-month (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

If you’ve been outbid before or you’ve struggled to find a home that meets your needs, breathe a welcome sigh of relief. The big takeaway here is you have more options and less competition today.

Just remember, while easing, data shows multiple-offer scenarios are still happening – they’re just not as intense as they were over the past year. You should still lean on an agent to guide you through the process and help you make your strongest offer up front.

Bottom Line

If you’re still looking to make a move, it may be time to pick your home search back up today. Let’s connect to kick off the homebuying process.

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Greeley Real Estate August 26, 2022

Ranch Style Home in Central Greeley

Amazing opportunity to own a ranch style home which sits on a .48 acres lot in central Greeley. 4908 W 23rd Street Road is a corner lot home that has 3 bedrooms (with a 4th bedroom ready for completion), 3 bathrooms, an amazing 22×15 foot attached workshop with heater, whole house fan, mature landscaping, covered patio, 2 sheds (11×10 & 14×8), 2 car attached, heated garage, walking distance to Monfort park, close to Highland Hills golf course and many different shops & restaurants. No HOA and No Metro Tax. This will not last long. Call (970) 590-4841 to schedule a private tour or click here for more information.

 

BuyersBuyers & SellersColorado Real EstateSellers August 22, 2022

What Does the Rest of the Year Hold for Home Prices?

What Does the Rest of the Year Hold for Home Prices? | MyKCM

Whether you’re a potential homebuyerseller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals.

Last Year’s Rapid Home Price Growth Wasn’t the Norm

In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. CoreLogic helps explain how unusual last year’s appreciation was:

Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

Home Price Appreciation Moderates Today

This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph below):

What Does the Rest of the Year Hold for Home Prices? | MyKCM

Why do all of these experts agree prices will continue to rise? It’s simple. Even though housing supply is growing today, it’s still low overall thanks to several factors, including a long period of underbuilding homes. And experts say that’s going to help keep upward pressure on home prices this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.

As the market undergoes this change, it’s true price appreciation this year won’t match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn’t sustainable anyway.

What Does That Mean for You?

Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that’s more typical for a normal market.

So, despite what you may have heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.

If you’re worried the house you’re trying to sell or the home you want to buy will decrease in value, you should know experts aren’t calling for depreciation in most markets, just deceleration. That means your home should still grow in value, just not as fast as it did last year.

Bottom Line

If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you’re ready to begin the process of buying or selling, let’s connect so you have a local market expert on your side each step of the way.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Uncategorized August 20, 2022

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC] | MyKCM

Some Highlights

  • Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways.
  • First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means signs say there won’t be a wave of foreclosures like the last time.
  • If you have questions about the housing market, let’s connect.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
BuyersBuyers & SellersColorado Real EstateSellers August 18, 2022

The U.S. Homeownership Rate Is Growing

The U.S. Homeownership Rate Is Growing | MyKCM

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year:

The U.S. Homeownership Rate Is Growing | MyKCM

That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.

If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership.

Why Are More People Becoming Homeowners?

There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“In the 1970s, when inflation was running around 10%, home prices were rising at approximately the same rate. Renters actually have a harder time in inflationary periods, because rents tend to rise along with inflation, whereas mortgage payments stay the same for homeowners with fixed-rate mortgages.”

When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.

That gives you a predictable monthly housing expense that can benefit you in the short term, but you’ll also gain equity over time as your home appreciates in value and you make your monthly mortgage payment.

And with that growing equity, your net worth will increase as well. In fact, the latest data from NAR shows the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.

The U.S. Homeownership Rate Is Growing | MyKCM

Bottom Line

The U.S. homeownership rate is growing. If you’re ready to purchase the home of your dreams, let’s connect so you can begin the homebuying process today.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
BlogBuyersBuyers & SellersColorado Real EstateFriday Fun FactsSellers August 15, 2022

What Gives?

 

“I thought the market was cooling off, so why are prices still going up?”

This is a frequent question we hear from our clients.

They are understandably confused by the fact that average prices have continued to rise at a rapid pace even though sales activity is slower than what it was 6 months ago.

Bottom line, they want to know why prices are up along the Front Range anywhere from 12% to 17% compared to last year.

Firstly, we don’t expect this pace of price appreciation to continue.  What we foresee is price growth going back to the long term average of 5% to 6% per year.

The reason why we still see double-digit growth comes down to two words.  Supply and Demand.

Supply, while higher than a year ago, is still relatively low.

Also, demand, while lower than a year ago, is still relatively high.

The market is still healthy, just not as frantic as it was.

Properties are still selling, but bidding wars and multiple offers have mostly gone away.

Sellers remain in a strong position, but they face more competition than before.