Jessica was a vet student with enough money to buy a half-duplex with a small yard for her dog. That was twenty-years ago. When she called a real estate agency about that duplex, I answered the phone. Jessica was my first client. She had inherited the down payment and was able to afford the $900 a month mortgage with a roommate and somehow, she qualified for the loan. She turned the beaten-up old rental into her first home. And it was beautiful. But she moved on with a marriage then babies …
Home Prices
Why Everyone Should Own a Rental Property
Confession time--I didn't buy a rental because I thought as a single mom with young kids, 3 dogs and a burgeoning real estate career, I didn't know enough or had the energy to learn about being a landlord. It's one of my top 5 regrets. It competes for #1 with a major regret I'm not going to reveal in this post. Come to one of my storytelling events and you'll probably hear it there. Of course, you say, back then prices were more affordable even if interest rates were higher. Back then, it was …
Spring Real Estate Market in Northern Colorado
“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 …
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 …
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 …
