Another weekend looking for homes for my buyers. Inventory is still down in the Fort Collins/Loveland area and in specific price ranges, we can cover the available homes in about 90 minutes. I’m optimistic that when spring arrives, sellers will wake out of their hibernation, rake the yard, paint the living room, clean out the garage and finally put that For Sale sign in the unfrozen earth.
And there are quite a few buyers out there hoping the same thing.
Some sellers are assuming that the longer they wait, the more their house will appreciate. Unfortunately, that may be a longer wait than they anticipate. The Fort Collins and Loveland areas have seen a small appreciation in specific areas and probably will continue on that trajectory but it may be a few more years before we see 2005 prices. There’s lot of chatter about an huge influx of foreclosures entering the market since the robo signing scandal halted the sale of these distressed properties. We shall see how that affects the northern Colorado market.
Meanwhile, don’t be afraid to jump in the market as a seller. If you have read any of my posts you know I repeat over and over: presentation is everything. That and a price based on good comparables and not wishful thinking. Just because you have a ranch in good condition with decent square footage and location, doesn’t mean that you can ignore what the lender’s appraisal is going to say. But it does mean you will most likely sell your home in the next 2-3 months. Remember that we are an aging population and we are seeing a steady flow of retirees to our most incredible slice of geography.
Check out the next meeting of the Silver Tsunami, a community conversation on how this will impact housing, health care, recreation, etc. http://noconow.co/ABK8Uu