Keller Williams Realty of Northern Colorado

Inman News recently used Zillow.com data to compile a list of nine markets with rising real estate values. More specifically, metro areas were examined for year-over-year median home-value increases from October 2010 to October 2011. Fort Collins came in at #6 with a 1.3% year-over-year increase in median home-value:

9 markets with rising real estate values
1. Tulsa, Oklahoma
2. Oklahoma City, Oklahoma
3. Lincoln, Nebraska
4. Madison, Wisconsin
5. Honolulu, Hawaii
6. Fort Collins, Colorado
7. Fort Myers, Florida
8. Pittsburgh, Pennsylvania
9. Boulder, Colorado

According to the report, the median value of a home in Fort Collins is $217,300. Mortgage rates continue to push lower, dropping to 3.98% from 4.23% in October of 2010, offering historic affordability to today’s home buyers. While mortgage lending conditions continue to be a challenge, more and more people are seeing the advantage of buying a home sooner rather than later. This bodes well for the Fort Collins housing market.

>> Click here to start your Fort Collins home search!

You can read the complete Inman News report at:
http://www.inman.com/news/2012/01/4/9-markets-with-rising-real-estate-values.

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins CO Realtor,
specializing in Fort Collins CO Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

Housing Affordability: The percentage of a median family’s income required to make mortgage payments on a median-priced home.

Years from now there will be people saying “hindsight is 20/20″ when asked whether or not they invested in today’s housing market. Housing affordability continued at record levels in April 2011. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to reverse the recent affordability trend.

Now is the time to buy. Contact one of our Fort Collins Real Estate Agents today to get started on your next purchase!

Affordability as of April every year. Calculations assume a 20% down payment.
Source: National Association of Realtors

Source: Keller Williams Realty, Inc. “This Month in Real Estate,” released June 2011.

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins Real Estate Agents,
specializing in Fort Collins Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

Distressed properties – foreclosures and short sales alike – represent potentially great value for prospective buyers. However, common misconceptions about the time and money investment involved with buying such properties may keep many from inquiring further into this market. KW Research survey findings, taken from more than 2,500 KW associate respondents who have worked with distressed properties, can help steer clear of concerns as you make your way to home-ownership. Here is some interesting data from our survey:

• 3 out of 5 REO buyers and 1 in every 2 short sale buyers spent less than one month searching for a home before writing an offer.
• 7 out of 10 distressed property buyers wrote three or fewer offers before one of the offers was accepted.
• Half of REO buyers and almost one-third of short sale buyers spent less than $5,000 in repairs. Repair costs tend to be a concern with distressed properties.

Dealing with distressed properties does take time and patience, but don’t be deterred by common misconceptions. Contact one of our Fort Collins Real Estate Agents today for further inquires into this market.

Source: Keller Williams Realty, Inc, “This Month in Real Estate,” released 6/7/2010.

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins Realtors
Click here to search Fort Collins Foreclosures

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Fort Collins made the cut on Money Magazine’s recently released list of the 25 Best Places to Retire. In compiling this list, the editors of Money Magazine focused specifically on college towns where retirees have access to abundant recreational activities as well as outlets for intellectual stimulation. Fort Collins took the #12 spot in the rankings.

Fort Collins has a population of 141,104 with 24% of residents over the age of 50. The magazine selected Fort Collins based on residents ease of access to ski resorts, hiking trails, golf courses that receive 300 days of sunshine, and the thriving shops and restaurants in Old Town. Moreover, retirees can take advantage of continuing education classes through Colorado State University as well as The Front Range Forum – a program run by the City of Fort Collins.

This isn’t the first time Fort Collins has been named a best place to retire. Additional city recognition includes:

• Named one of Top 20 Places to Thrive: Best Boomer Towns – February 2009
• Listed among the Top 10 College Towns for Grown-Ups: Kiplinger magazine – March 2007
• Selection as “Top Retirement Spot” by Where to Retire magazine – March/April 2005
• “Top 5 Places to Retire”: MSN.com – July, 2003

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins CO Realtor,
specializing in Fort Collins CO Real Estate and Northern Colorado Real Estate
Are you relocating to Fort Collins? Contact us today!

970.377.3700

Hindsight doesn’t have to be the only 20/20 vision.  Close examination of today’s real estate market reveals several reasons why now is a prime time for buyers and investors to make their move. What are these reasons? Click here to download Keller Williams Realty International’s FREE “7 Reasons Why Now is a Great Time to Buy a Home” e-book to find out.

At a Glance: Why NOW is the Prime Time to buy

• Home affordability is at an all-time high
• Mortgage rates are at rock bottom
• Home prices are back on the rise
• Sellers are motivated
• Financing is readily available for well-qualified buyers
• Owning vs. renting is increasingly favorable
• Homeownership is still at the core of the American Dream

If you have any questions about these materials or are looking to purchase a home, contact one of our Fort Collins real estate agents today!

Thanks for reading our Fort Collins Real Estate Blog!
Posted By: Keller Williams Realty of Northern Colorado – Fort Collins Real Estate Agents,
specializing in Fort Collins Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

A good credit score makes all the difference when applying for a home loan. On May 22, 2009, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 was signed into law, marking a turning point for American consumers and ending the days of unfair rate hikes and hidden fees. While the new law offers significant safeguards for consumers, there are new practices designed to skirt the law that consumers need to protect themselves against.

Stay as informed as possible, read your statement, report any irregularities immediately, and watch out for these tricks:

SHORTENED BILLING CYCLE
The CARD Act requires companies to allow a window of at least 21 days from when a statement is mailed and when payment is due. Cardholders are reporting being shortchanged on billing cycle time and then being assessed late-payment fees.

ADVICE: Watch out for shortened payment dates.

SUNDAY DUE DATES
The CARD Act stipulates if a creditor does not receive or accept payments on weekends or holidays, then the date is extended and late-payment fees shouldn’t be triggered. However, some banks say they’re open for business even when there’s no mail delivery.

ADVICE: Don’t assume you are safe.

LOW-LIMIT CARDS
The CARD Act says a card’s total annual fees can’t exceed 25% of a borrower’s credit line. However, some issuers may be evading the fee restrictions by charging an up-front processing fee that doesn’t fall under the 25% cap.

ADVICE: Watch out for processing and other fees.

FALSE INACTIVE FEES
Issuers will no longer be able to charge inactivity fees or extra charges for people who don’t spend a certain amount each year, effective August 22. However, some issuers are charging an annual fee that’s waived if cardholders reach a certain spending threshold.

ADVICE: Watch out for conditional annual fees.

REBATE OFFERS
Some credit cards offer refunds on finance charges when customers pay on time. However, rebate offers aren’t governed by the CARD Act, and such offers can be revoked suddenly and for any reason, leaving cardholders stuck with higher charges.

ADVICE: Rebates may translate to real savings in finance charges.

Source: Keller Williams Realty, Inc., “This Month in Real Estate”, released 8/7/2010.

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins Real Estate Agents,
specializing in Fort Collins Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

AUSTIN, TEXAS (July 30, 2010) —According to the J.D. Power and Associates 2010 Home Buyer/Seller Study^SM, Keller Williams Realty, Inc., the third largest real estate company in the United States, has received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row. The company also ranked second among home sellers in the study for the second year in a row.

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>> Original Keller Williams Press Release

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Posted By: Keller Williams Realty of Northern Colorado – Fort Collins Real Estate Agents,
specializing in Fort Collins Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

While interest rates for conventional loans reached historic lows in recent years, it has been a different story for jumbo loans. Interest rates for jumbo loans shot up as lenders tightened restrictions and steered clear of anything that could be considered somewhat risky. Another factor working against jumbo loans – they are too large for the government to support through the Federal Housing Administration, Fannie Mae, or Freddie Mac.

Understanding Jumbo Loans
First, what constitutes a jumbo loan? Below is a chart that breaks down what it means to be a Conforming Loan, Conforming Jumbo and True Jumbo Loan:

* $729,750 is the upper limit in the most expensive areas.
Limits vary depending on median home prices in local areas.

Recent Changes in Jumbo Loan Interest Rates and Down Payments
The difference between interest rates on conventional loans and jumbo loans has decreased from higher levels seen last year:

* Based on the week of February 25, 2010.

In some cases, the down payment requirements are easing as well, but they often still depend on the level of borrowing – the more the mortgage, the higher the down payment percentage. In New York, mortgage professionals report the following common down payments:

**According to Bank of America’s Jeffrey Appel in Inman News.

Borrowers will still need a good credit score, typically at least 700, evidence of high income, and a sizable bank account.

In Summary
Available credit for the high end will likely help stabilize prices in that sector and boost the overall average sales price. Until now, the high levels of activity in the entry-level price points combined with relatively few sales at the high end have skewed the average price down.

Thanks for reading our Fort Collins Real Estate Blog!
Posted By: Keller Williams Realty of Northern Colorado – Fort Collins CO Realtor,
specializing in Fort Collins CO Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

Two critical measures of a real estate market are the Month’s Supply of Inventory (MSI) and Days On Market (DOM). The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. The lower the better for sellers. DOM is the average number of days it has taken homes to sell in a market in a given time period. Again, the lower the better for sellers.

The graph below shows the change in MSI for Loveland, Greeley and Fort Collins from 9/1/2007-9/30/2009:

While DOM has not dropped for all three cities, the MSI has lowered significantly across the board and points to a more balanced real estate market.
Source: Brokers Metrics, “Months Supply of Inventory (MSI) 9/1/2007-9/30/2009” for Fort Collins, Loveland and Greeley.

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Posted By: Keller Williams Realty of Northern Colorado - Fort Collins Real Estate Agents,
specializing in Fort Collins Real Estate and Northern Colorado Real Estate
Pictures of Fort Collins

970.377.3700

BusinessWeek recently examined small metro areas where the housing market didn’t bubble, hasn’t burst and is showing strong signs. Using data from Zillow.com, the magazine ranked metro areas based on the share of single-family homes in which values rose in the second quarter 2009 compared with the second quarter of 2008.

Once the data was compiled, Fort Collins took the #19 spot on the magazine’s study of the nation’s strongest housing markets. The area’s share of homes with increasing value came in at 28.82% and median home value at $232,500. The annual change in value of homes was -0.32%, however, the quarterly change was 1.71%. The numbers are complemented by Fort Collins’ great schools, low crime, outdoor recreational opportunities and unique offerings of Old Town.

Colorado was well represented on the list, as Boulder, CO took the #1 spot as the strongest housing market.

You can view the complete report at: http://www.businessweek.com/lifestyle/content/aug2009/bw20090810_741278.htm

Source: BusinessWeek, “The Strongest U.S. Housing Markets” by Prashant Gopal, 8/11/2009

http://www.businessweek.com/lifestyle/content/aug2009/bw20090810_741278.htm