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Median Price Fort Collins $240,050

by Sharianne Daily

In Fort Collins, year-over-year listings of single-family detached properties from June 2010 to June 2011 have decreased 8.9 percent from 1,595 to 1,425; in the Loveland/Berthoud area, listings have decreased 11.6 percent from 1,101 to 973; and the Greeley/ Evans area experienced a 20.4 percent decrease from 710 listings to 565.

In Greeley/Evans, the median sales price for a residential detached home increased from $137,000 in June 2010 to $139,000 in June 2011. However, median sales prices decreased 0.3 percent from $241,000 to $240,050 in Fort Collins and 6 percent from $234,000 to $220,000 in Loveland/Berthoud.

GREEN Products Buyers Really Want

by Sharianne Daily

Which eco-friendly amenities are grabbing buyers' attention?

  • High-efficiency insulation
  • High-efficiency windows
  • Double and triple glazed windows
  • Tankless water heaters
  • Water-conserving devices
  • Products aimed at improving indoor air quality
  • Renewable flooring products, such as bamboo and cork

 

Buyers wanting a "steal"

by Sharianne Daily

Buyers nowadays want to feel they are getting a “steal,” real estate experts say. But some sellers may be tempted to list a property above fair market value just to test out the market and see if they can get a taker. In the past year, about 25 percent of sellers who initially listed their homes too high ended up having to reduce the price, according to Trulia.com. 

Jan 2011 Mortgage Rates 4.76% vs 5.03% in 2010

by Sharianne Daily

CHART: Rates Since 1971

Mortgage Rates still at Historic LOWS!  Thank you to Susie Kiesling with Premier Mortgage for this informative chart.

Top 10 Buyer Wants in NEW HOMES

by Sharianne Daily

Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms—such as home theaters—from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show.

Buyers today want cost-effective architecture, plans that focus on spaces and not rooms and homes that are designed ‘green’ from the outset,” said Heather McCune, director of marketing for Bassenian Lagoni Architects in Park Ridge, Ill. The key for home builders is “finding the balance between what buyers want and the price point.”

For many buyers, their next house will be smaller than their current one, said Carol Lavender, president of the Lavender Design Group in San Antonio, Texas. Large kitchens that are open to the main family living area, old-fashioned bathrooms with clawfoot tubs and small spaces such as wine grottos are design features that will resonate today, she said. “What we’re hearing is ‘harvest’ as a home theme—the feeling of Thanksgiving. It’s all about family togetherness—casual living, entertaining and flexible spaces,” Lavender said.

Paul Cardis, CEO of AVID Ratings Co., which conducts an annual survey of home buyer preferences, said there are 10 “must” features in new homes:

1. Large kitchens, with an island. “If you’re going to spend design dollars, spend them where people want them—spend them in the kitchen,” McCune said.

2. Granite countertops are a must for move-up buyers and buyers of custom homes, but for others “they are on the bubble,” Cardis said.

3. Energy-efficient appliances, high-efficiency insulation and high window efficiency. Among the “green” features touted in homes, these are the ones buyers value most, said Cardis. While large windows had been a major draw, energy concerns are giving customers pause on those. The use of recycled or synthetic materials is only borderline desirable.

4. Home office/study. People would much rather have this space rather than, say, a formal dining room. “People are feeling like they can dine out again and so the dining room has become tradable,” Cardis said. And the home theater may also be headed for the scrap heap, a casualty of the “shift from boom to correction.”

5. Main-floor master suite. This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general. That could help explain why demand for upstairs laundries is declining after several years of popularity gains.

6. Outdoor living room. The popularity of outdoor spaces continues to grow, even in Canada. The idea of an outdoor room is even more popular than an outdoor cooking area, meaning people are willing to spend more time outside.

7. Master suite soaker tubs. Whirlpools are still desirable for many home buyers, but they clearly went down a notch in the latest survey. Oversize showers with seating areas are also moving up in popularity.

8. Stone and brick exteriors. Stucco and vinyl don’t make the cut.

9. Community landscaping, with walking paths and playgrounds. Forget about golf courses, swimming pools and clubhouses. Buyers in large planned developments prefer hiking among lush greenery.

10.
Two-car garages. A given at all levels; three-car garages, in which the third bay is more often than not used for additional storage and not automobiles, is desirable in the move-up and custom categories.

10 Reasons to Buy

by Sharianne Daily

10 Reasons to Buy - Owning a home has been a part of the American Dream for decades.  This is a great article to share with potential buyers.  The list begins with:
1. Low Interest Rates: Interest rates are currently at historical lows.
2. Mortgage Interest Deduction: It's a great tax advantage!
3. Stability: Studies have shown that homeownership not only increases community involvement, it also leads to safer neighborhoods, and higher graduation rates.
See the full article for the balance of the list:
http://realtytimes.com/rtpages/20101208_buy.htm

Reverse Mortgages are popular

by Sharianne Daily

3 Reasons Why Reverse Mortgages Are Popular
Recent legislation and changes in the marketplace are increasing the use of reverse mortgages. Here are three factors that make reverse mortgages an improved retirement-planning tool.

1. Fees are lower. The government with support from lenders has revised how reverse mortgages are structured.

2. Loans are more flexible. New loans let borrowers take money as they need it instead of all at once.

3. Selling isn't always feasible. Reverse mortgages generally don’t pay as much as selling a house outright, but these days selling a house can be very difficult.

Source: SmartMoney.com, Alyssa Abkowitz (11/01/2010)

How LOW can they go?

by Sharianne Daily

Purchase Interest Rates on September 3, 2010

2.75% CONV 5/1 ARM (five year fixed adjusts yr 6)

3.625% CONV. 15 YR  (15 yr. amortization fixed rate)

4.25% CONV 30 YR  (30 yr. amortization fixed interest rate)

4.25% FHA 30 YR (30 yr. amortization fixed interest rate)

Remember, every percent drop in interest rates increases your buying power by 10%!

A new thought process for Buyers - instead of buying for the sole purpose of appreciation, they will buy a home because it meets the needs of their family, it is in the right price range, they like the street, they like the school district,  it is convenient to work. While they won’t ignore the potential for appreciation, it won’t be the driving force.   

 

Displaying blog entries 1-8 of 8

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