“What do you think the market will do this spring?” I’m asked that every day. The only thing I can do is to point out the facts. Inventory is down. Prices are up. And the supply of homes has dropped to one month and three days. Just as a reference, in 2010, the supply of homes on the market was six months which is a balanced market--sellers and buyers have equal standing. When you have our market, houses go quickly. People keep telling me it’s gonna change—that it must. No, it doesn’t At …
Fort Collins
Northern Colorado RE Stays Strong–for How Long?
The northern Colorado real estate market continues to be one of the strongest in the country. Demand for homes, fueled by job growth, continues to outpace supply. Regional job growth in 2017, a leading indicator of the real estate market, was one of the strongest in the last 10 years. Despite more construction, supply has not kept up with demand. The northern Colorado market continues to have less than 3 months of housing supply when 6 months is considered a balanced market. Some thoughts about …
Getting It Right–Zillow vs. Agent
We all use Zillow and, depending on what it says, we either love it or hate it. ‘Zestimates’ are based on an algorithm that identifies a home’s unique value by comparing it to other homes that may or may not be similar. The critical component missing is “boots on the ground,” a live human being who has been in that home, and has been in other homes that would be comparable. Computer codes aren’t people. Humans VS. Technology Zillow gets market data from the same resources as real estate …
24 Tax Property Protests Later…
I spent most of last weekend pulling ‘comps’ for clients looking to protest their 2017 property tax assessments. Larimer County has a nifty feature that allows you to pull up your own comps (sales that are comparable), but they don’t have all the features provided by our local MLS. Has it been remodeled? Was it a hoarder’s paradise? Was it a bi-level or ranch with one bedroom on the main with a weed production facility in the basement? We can’t always tell if someone has been growing pot but …
Protest Your Tax Assessment (maybe)
I’m up to 22 as of this morning. I wish it were 22 running miles but my wrecked knee precludes that. I have 22 requests to help clients protest their tax assessment in Larimer County. I expect that to double as the month progresses. People are asking if it’s worth it and my answer depends on the difference between their 2015 assessment and 2017’s. It seems as if the 2015 assessments were reasonable and I didn’t have many clients asking for help. Most of us shrugged our shoulders and accepted …
It’s Property Tax Assessment Time!
I just opened the postcard from the Larimer County Assessor’s office. Yikes! My simple ‘70’s ranch home near the Foothills Mall increased in value by more than 30% in two years. I was expecting the value to go up but not nearly $100,000. I went looking for answers and saw this headline on the Larimer County website. Property Values in Larimer County Are Up. Unfortunately, The Assessor’s Office Noticed --Steve Miller, Larimer County Assessor I’m not sure there’s much any of us can do about …
