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Renting to people you know will increase the probability that you’ll be taken advantage of. Rent to strangers with good credit and you’ll almost always have smooth sailing.
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The fact that prices are hanging on and even appreciating despite demand for homes being completely obliterated by the rising interest rates is almost unbelievable. It goes to show you how nefarious the housing shortage is.
2220 Overland Trl, Laporte…
Gorgeous modern farmhouse on half an acre just a few feet from Lyons Park and the Poudre Trail. Meticulous high end renovation completed over the last 5 years.
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Will Open Door pay more for your home than it’s actually worth? I’ve seen it more than a few times.
NEW LISTING - 3709 Starlite Dr Fort Collins
Beautifully updated home in a quiet country setting on a big lot just 10 minutes from downtown. Open floor plan with island kitchen, granite tops, stainless appliances, soft close cabinets and gas range. Gorgeous red and white oak floors re-claimed from a local gymnasium. Two wood burning fireplaces. Foothill views to the west, beautiful pasture and tree farm views to the east. New composite deck, central AC, updated windows, new fence, hardie style concrete siding. Owner's suite has ensuite bath and walk in closet. High quality finishes top to bottom, granite vanities and under-mount sinks in every bathroom. Plenty of room for RV, boat storage or additional garage space.
Super proud of these two for closing on their first home! After a couple of multiple offer situations that didn’t go our way, they were finally able to make one stick. And as is so often the case, the home they bought was way better than the ones they lost!
REAL ESTATE MARKET UPDATE
Rising Rates Battle Demographics
We are finally seeing an effect from the massive interest rate increases in the NoCo market. For the last few months we have been waiting and waiting to feel things slow as rates surged from their all time lows of 2.5% to nearly 6%. We are witnessing a battle between two market forces: Demographics and rising borrowing costs.
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Clients often ask why the $/square foot varies so widely between homes they are evaluating. Keep in mind - smaller homes are going to have higher dollar per square foot values, larger homes will have lower dollar per square foot values. Here’s why…
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These types of mailings work best when they reference specific neighborhoods and name the buyers by name.
Be prepared for a much longer timeline than with a traditional, on-market sale. But the upside is no bidding war and getting to meet and talk with the seller face to face.
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Have you seen all these news articles where the poor home buyer is saying, “oh my gosh I waived inspection and bought a house with all these problems!!” Why are these people not doing inspections!? Waiving your inspection contingency should NEVER mean that you don’t perform an inspection. Also, just because you waive inspection doesn’t mean you can’t re-negotiate if things are bad enough. At the end of the day, you can always walk away from the deal and that is often all the leverage you need if major issues are found. Your earnest money may or may not be refundable depending on how your contract is structured. One thing to note, there are some instances where a buyer’s non refundable earnest money is a really painful amount. Some well heeled buyers are putting down $100k non refundable! This is rare in Northern Colorado and is more common in Denver and markets like Austin and LA and is usually done on high end homes that have been very well cared for. Regardless of how your contract is structured and how much earnest money is in play, please do your inspection!
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