your real estate connection: lindsay chacon & jena pipher
DESCRIPTION
ÂTRANSCRIPT
Your Real Estate Connection
LOCAL REAL ESTATE Statistics
A PRODUCT OF C3 REAL ESTATE SOLUTIONS, LLC
ISSUE 3
INSIDE THIS ISSUE
POSITIVE EQUITY
STARTER HOMES COME BACK
McWHINNEY BUYS LAND FOR $6.4 MILLION
FUN FACT
FEATURED LISTINGS
TERMINOLOGYTIPINSPECTION. After you’ve made an offer on a home, you’ll need to schedule an inspection, which costs around $500 – $800, depending on the market. The inspector will go through every nook and cranny, and review things like the plumbing, electrical, foundation, walls, heating, and appliances.
MONEY SAVINGTIP: Get advice from your real estate broker on a good inspector. If they find something wrong, they can negotiate for a reduced price and can also ask the Seller to address the issues. If they miss something, you could be stuck with expensive repairs after you’ve purchased the home.
RESIDENTIAL | COMMERCIAL | PROPERTY MANAGEMENT
$140,000Q1- 2008 Q1- 2009 Q1- 2010 Q1- 2011 Q1- 2012 Q1- 2013 Q1- 2014 Q1- 2015 Q1- 2016
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$320,000
$280,000
$340,000
$300,000
$360,000
--- LARIMER COUNTY--- WELD COUNTY
HISTORICAL MEDIAN SALES PRICE FOR WELD & LARIMER COUNTY
Source: www.iresis.com
FUNFACT
The original housewarming
party was — literally — a
housewarming.
Guests brought firewood
as gifts and lit fires in all
the fireplaces in the home.
Obviously this warmed up
the place for the family, but
it was also believed to ward
off evil spirits. Uninhabited
homes were thought to attract
roaming ghosts, so a new
home would have to be rid
of that bad energy before it
could become a happy abode.
97.1 PERCENT OF HOMES IN COLORADO HAVEPOSITIVE EQUITY
CoreLogic’s latest Equity Report revealed that one million borrowers in the US regained equity in their homes in 2015. The outlook for 2016 remains positive as well, as an additional 850,000 properties would regain equity if home prices rose another 5 percent this year. The study also revealed:
• 95 Percent of homes valued over $200,000 now have a positive equity position
• 87 percent of homes valued under $200,000 have entered a positive position
The 11.5 percent growth in home equity in Q4 marked the 13th consecutive quarter of double digit gains.Below to the left is a map showing the percentage of homes with a mortgage, in each state, that have positive equity.
SIGNIFICANT EQUITY IS ON THE RISEAnand Nallathambi, President & CEO of CoreLogic, believes this is great news for the “long-term health of the U.S. economy.” He went on to say:“The number of homeowners with more than 20 percent equity is rising rapidly. Higher prices driven largely by tight supply are certainly a big reason for the rise, but continued population growth, household formation and ultralow interest rates are also factors.”Of the 91.5% of homeowners with positive equity in the US, 72.6 percent have significant equity (defined as more than 20 percent). This means that nearly three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home now.The map to the right above shows the percentage of homes with a mortgage, in each state, with significant equity.
BOTTOM LINEIf you are unsure of how much equity you have in your home and are curious about your ability to move, contact me today and I can help evaluate your situation.Source: www.keepingcurrentmatters.com
5442 Tiller Court$540,000
4 Bed, 3 Bath, 5,066 SF
1045 Linden Gate Court$719,900
4 Bed, 4 Bath, 4,870 SF
1918 White Ibis Court$335,000
3 Bed, 3 Bath, 2,768 SF
642 Split Rock, Loveland$565,000
2 Bed, 3 Bath, 3,380 SF
2068 Sage Court$295,000
3 Bed, 3 Bath, 1,480 SF
4515 Roaring Fork Ct, Lvld$1,689,000
5 Beds, 6 Bath, 6,189 SF
5250 Apricot Court$385,000
3 Bed, 2 Bath, 3,324 SF
3811 Bridle Ridge Street$588,900
3 Bed, 3 Bath, 4,560 SF
2521 Courtland Ct, Ft Collins$300,000
3 Bed, 3 Bath, 2,229 SF
485 Lincoln Ave, Nunn$280,000
3 Bed, 3 Bath, 4,339 SF
OUR NORTHERN COLORADO FEATURED Listings
STARTER HOMES MAY BE COMING BACK, AFTER ALL
Good news for first-time buyers: more starter homes are on the way. A recent analysis by BUILDER online shows the number of homebuilders offering entry-level housing rose 25 percent last year compared to the year prior.
Since the recession, the number of new entry-level homes plummeted. BUILDER online even declared the starter home “nearly extinct” last year.
However, BUILDER’s analysis of the 2016 Builder 100/Next Builder list points out an increasing number of builders are devoting at least 50 percent of their business to building entry-level homes. While the numbers are rising, the entry-level market is still a fraction of what it once was in 2010.
Still, “The re-entry of the entry-level buyer has begun, but this group’s next moves will be gradual,” says Metrostudy’s Brad Hunter about young buyers’ emergence into the housing market. “Income challenges remain, and there are still relatively few new house developments who target this group.”Source: “Builder 100: Entry Level Makes a Comeback,” BUILDER (4/27/2016)
McWHINNEY PAYS $6.4 MILLION FOR LAND NEAR FOOTHILLS MALLFort Collins/Loveland-based McWhinney Real Estate Services Inc. has purchased approximately 12 acres of land to the north and east of the Foothills mall in Fort Collins, where it has been planning to build apartments.
McWhinney, through its entity SMP4 Investments Inc., paid $6.4 million for the land south of East Swallow Road and west of Stanford Road, according to public records. The four parcels wrap around the northeast portion of the mall that has been undergoing major renovation.
McWhinney bought the land from Walton Foothill Holdings VI, the combination of Greenwood Village-based developer Alberta Development Partners, which is redeveloping the mall, and Chicago-based Walton Street Capital.
Walton Foothills Holdings in December demolished the Commons at Foothills Mall, a one-story 50,000-square-foot neighborhood strip mall built in 1978 that occupied the parcel at the north end of the mall.
McWhinney has submitted final plans to the city’s planning department to build 405 units in 19 two- and three-story buildings.Source: Bizwest.com
Information is deemed reliable, but not guaranteed.
© 2016 C3 Real Estate Solutions, LLC.
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Lindsay ChaconBroker Associate, CNE, CMRS
Jena PipherBroker