Home sales are up in Northern Colorado!

The Loveland -Berthoud areas of Northern Colorado showed the largest increase in single family homes sold in January, showing a year over year increase of 9.5 percent. The median sales price increased 6.3 percent, year over year, to $255,000.

Ft. Collins and Greeley also showed increases.  "A total of 107 homes were sold in Fort Collins in January, up 3.9 percent from the 103 sold in January 2011. However, the median home price decreased, from $246,000 in January 2010 to $238,500 in January." stated an article in the Northern Colorado Business Report.

In Greeley, 56 homes were sold in January, which was a 6.6 percent increase from January 2011.  The median home price increased from $130,000 in January 2011 to $150,000 this year.

Read the full article in The Northern Colorado Business Report

Posted in Marketing, Buyer Resources, Real Estate Market Conditions

Buying a home for the first time can be overwhelming... where do you start?  Make your first time home purchase a good experience by following these tips

1.      Ask Questions!  Ask for agent referrals from family and friends and always interview several agents to make sure you find the right fit.  Make sure you get an agent who is knowledgeable in your local market, financing options and national trends.

2.      Research your Home Lender. Your agent is a good source to refer a mortgage lender.  Shop around for your mortgage lender and get pre-approved so that you know what your budget is and you can stick to it.  By being pre-approved, you can move quickly when the right home comes along.

3.      Narrow Down Your Search:  The typical homebuyer looks at 12 homes before buying.  Narrow the field by deciding ahead of time what type of home, neighborhood and area you are looking for.  Do you want to be close to work, want a great place for kids, quality school system, walkability?  Realize you won't find everything you want but keep narrowing the criteria until you come up with the top 5 or 6 "must haves" in the home you choose. 

4.      Look Around You:  It's easy to focus only on the house you are looking at, but pay attention to your surroundings.  What's next door?  Is it near a park or a busy street?  You might consider bringing along a digital camera to help you remember details later.  Start with a close up of the information flyer to help you identify which house is which.

5.      Take a Second Look.  Once you've figured out the houses you are interested in, ask to see them again, you will notice details you overlooked the first time.

6.      Follow Through:  Always get a home inspection done including repair estimates, look into home warranties and make sure you have a reputable title company before you take the plunge.  This is where your agent offers valuable expertise.

Buying your first home is exciting but all the details involved in home buying can be challenging.  Make it easier by following these tips for first time home buyers.

Are you Ready To Buy? Make it happen in 2012.

photo credit: WDanRoberts

Posted in Marketing, Buyer Resources, GenX GenY, Real Estate Market Conditions

Here's the scenario.  You want to buy a home and you have finally saved up enough money for a down payment and, luckily, home prices and the interest rates are still low.  What should you do first?

An article in Inman News, by Tara Nicholle Nelson, outlines the steps you should take to make this happen in 2012.

1.      First and foremost, says Nelson, fix your credit problems.  "More deals than ever are dying on the vine and credit problems are a top reason home-sale transactions fall out of escrow."  Review your credit report now and correct any errors.

2.      Do Your Homework: 

• Research the areas and neighborhoods you like. Nelson suggests going online to NabeWise.com for great information. Then look for an agent who is familiar with the areas you have chosen. "They can give you a deeper view into the need-to-knows" says Nelson, "like how long homes typically stay on the market and whether they generally go for more or less than the asking price."
• Research local agents. Ask your family and friends for a referral and then follow up online, searching online reviews and their website. Then arrange to meet them to see if it's a good fit for you.
• Look at all types of homes for sale...including distressed properties. When you interview agents, make sure they are knowledgeable in short sales and foreclosures, because there are some good deals to be had! "

"In some areas, more than 40 percent of the homes on the market are short sales and foreclosures, and they involve a very different timeline and set of facts than traditional home sales." Says Nelson, "Read up and talk with the agent candidates you interview about what you should expect from these types of listings, to minimize surprise and manage your expectations way in advance."

3.       Don't Stop Saving!  Nelson says that no matter what amount of cash you have on hand, when you start house hunting, making offers, closing your transaction or moving in, the time will definitely come when you'll wish you had more.

"You might want to ratchet up your offer a bit to best another buyer, or you might just end up with a place that needs a little sprucing up." Says Nelson. "It might be months before you know exactly what you'll need extra cash for, but now is not the time to press the gas pedal when it comes to your monthly spending."

4.      Start Clearing Out:  Especially if you have a house to sell.  This is the time to start donating, selling and giving away all those things you have accumulated.

"Use the proceeds to pad your cash cushion, or tuck the donation receipts away for your tax records next year." suggests Nelson.

This is a great time to buy a house!  Use these tips to make the process easier and be able to get into that new house in 2012!

Read the full story at Inman News.

photo credit: Justin Shearer

Posted in Marketing, Buyer Resources, Ownership, Real Estate Market Conditions

Roslyn Ashford, a professional home-stager in Washington DC says to keep color on the walls when trying to sell your home.

Experts agree that a home sells better when it is staged.  When staging vacant homes, Ashford is frustrated to have to work with freshly painted white or off-white walls.

"Even though many of the staging and home selling television shows clearly demonstrate and showcase the positive use of color when selling home," says Ashford, "I rarely find color on the walls when I'm asked to stage vacant homes."

The colors, however, must be "acceptable" to buyers.  "Pick up the latest furniture retail catalogs to find what the accepted colors are. 

"In general, colors help to give every home life, even more than only using furniture and decorative accents." Says Ashford.   Your local home stager and real estate agent can help you select colors that work in your area.

Read the full article at Zillow.com

photo credit: russelljsmith

Posted in Marketing, Seller Resources, Real Estate Trends

The economic outlook for the Denver metro area is looking towards growth in 2012.

Employment is expected to increase by 1.1%, which means about 15,000 new jobs will be added in the Denver metro region in 2012, according to Patricia Silverstein President of Development Research Partners.

National growth for 2012 is expected to be 1.8 percent according to the International Money Fund (IMF). Projected growth for 2013 for the U.S. is 2.2 percent. "Some countries, notably the United States and Japan, need to clarify their plans to reduce debts and deficits in the years ahead." said the IMF.

"Consumers are the largest drivers of our economic structure," says Silverstein, "and consumer activity represents 70% of our economy. They are spending a little bit more, their investment portfolios are increasing a little bit and the housing market is solidifying so that's helping consumers feel a little wealthier."

Experts in Colorado track the eight strongest industry clusters to determine the economic outlook, including healthcare, energy, aerospace, and IT technology.

Watch the video at cobizmag.com

photo credit: Charlotte Gilhooly

Posted in Marketing, Real Estate Market Conditions