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Yo u r R e a l Estate Conn e c ti o n A PRODUCT OF C3 REAL ESTATE SOLUTIONS, LLC

LO C AL R E AL E S T A T E

ISSUE 16

INSIDE THIS ISSUE Q2 MARKETWATCH REPORT: WELD & LARIMER COUNTIES

MARKETWATCH REPORT QUARTER 2, 2018 Q2 -2016 Q2 - 2017

LARIMER COUNTY

1,556

Closed Sales

+15.7%

1,367

1,445

-8.0%

710

+8.3%

831

718

-14.9%

Homes for Sale

Q2 - 2018

1,605

1,745

MORTGAGE RATES EDGE UP AS LOAN APPLICATIONS CONTINUE TO SLIDE

1,611

FEATURED LISTINGS

+14.3%

- LARIMER AND WELD COUNTIES

WELD COUNTY

1,002

MEDIAN SINGLE-FAMILY HOME PRICES IN REGION CONTINUE TO SOAR

1,177

FUN FACT/QUOTE

1,030

TERMINOLOGY TIP: BIDDING WAR BIDDING WAR & ESCALATION CLAUSES

Statistics

-14.6%

Homes for Sale

-5.4%

+13.8%

Closed Sales Source: IRES MLS

TERMINOLOGYTIP

BIDDING WAR. A bidding war refers to a circumstance in which two or more prospective buyers of a property compete for ownership through incrementally increasing bids. BIDDING WARS AND ESCALATION CLAUSES When a real estate market becomes highly competitive, some investors and speculators choose to implement escalation clauses into their bidding contract on a property. An escalation clause is essentially a statement that indicates a base bid price for the property, and an agreement to automatically increase that bid by a certain amount if another buyer submits a verified higher bid. Typically, an escalation clause will also include the maximum price the buyer is willing to pay for that property.

R ES ID E NTIAL | COMME RCI AL | PRO PERTY M ANAG E M E N T


FUNFACT / QUOTE “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” - Franklin D Roosevelt

MEDIAN SINGLE-FAMILY HOME PRICES IN REGION CONTINUE TO SOAR Median prices for single-family homes in the region were all higher in July compared with the same month a year ago, according to a report released Wednesday by Information and Real Estate Services Inc., a multiple-listing service based in Loveland. IRES tracks home sales in Boulder, Fort Collins, Longmont, Loveland/Berthoud, Greeley/Evans and Estes Park, all markets within Boulder, Broomfield, Larimer and Weld counties. For the second-straight month, the median price in the Boulder market exceeded $1 million. For July, the median price was $1,047,500, about $40,000 more than the median price in July of last year. This July, there were 56 sales from 171 listings with an average time on the market of 54 days. In Longmont, the median price for July reached $442,400, about $64,000 more than the median price a year ago. For the month, there were 107 sales from 193 listings, with an average time on the market of 45 days. The median price in the Estes Park market was $461,200, about $65,000 higher than the median price in July of last year. There were 30 sales from 151 listings with an average time on the market of 70 days. In Fort Collins, the median price was $418,770, up about $39,000 compared with the same period a year ago. The Fort Collins market had the most listings in July — 760 — and sales — 293. The average time on the market was 58 days. The median price in the Loveland/Berthoud market for July was $388,000, about $18,000 more than July of last year. There were 212 sales from 484 listings with an average time on the market of 74 days. In the Greeley/Evans market, the median price was $303,480, about $23,500 more than the median price in July of last year. Inventory in the market is tight. There were 208 sales made during the month from 286 listings. The average time on the market was 69 days. Source: Reporter Herald


OUR N O R THE R N COL ORA D O F E A T U R E D

Listings

1200 High Plains Ct, WDSR $825,000 MLS#858872 6 Bed, 5 Bath, 5620 SF

5326 Wishing Well, TIM $435,000 MLS#856878 3 Bed, 2 Bath, 3448 SF

4843 Mariana Hill Cr, LVLD $754923 MLS#859369 4 Bed, 4 Bath, 3708 SF

8336 Sand Dollar Dr, WDSR $800,000 MLS#852757 5 Bed, 5 Bath, 5475 SF

3572 Tradition Dr, FTC $399,900 MLS#858900 5 Bed, 4 Bath, 2524 SF

6802 Wildshore Dr, TIM

355 Cardinal Ave, LVLD $365,000 MLS#857418 5 Bed, 3 Bath, 2926 SF

282 Clark Ct, WDSR $385,000 MLS#860075 4 Bed, 4 Bath, 2865 SF

610 N Jefferson Ave, LVLD $650,000 MLS#852129 4 Bed, 2 Bath, 3825 SF

5325 Wishing Well, TIM $522,000 MLS#859007 5 Bed, 3 Bath, 4155 SF

$825,000 MLS#856831 5 Bed, 5 Bath, 4376 SF

MORTGAGE RATES EDGE UP AS LOAN APPLICATIONS CONTINUE TO SLIDE The benchmark 30-year fixed mortgage rate rose to 4.71 percent from 4.69 percent from a week earlier, according to Bankrate. com’s survey of the nation’s largest mortgage lenders. The 15-year fixed mortgage rate climbed four basis points to 4.16 percent. Meanwhile, the average rate for 5/1 adjustable-rate mortgages, or ARMs, fell four basis points to 4.14 percent. Rising rates are hitting potential borrowers in the wallet, making them think twice about applying for a home loan. Total mortgage applications inched down 0.1 percent from one week earlier, according to the latest Mortgage Bankers Association’s weekly survey. Purchase and refinance applications both declined 1 percent from the previous week, the MBA found. Refinance activity inched up to 38.9 percent of total applications from 38.7 percent the previous week. The recent surge in refinance activity indicates that homeowners want to refinance before rates creep up further in the latter part of the year, as predicted. Meanwhile, the ARM share of activity fell to 6.1 percent of total applications, down from 6.3 percent. Source: www.bankrate.com/mortgages/analysis/

2720 Council Tree Avenue, Ste 178 Fort Collins, CO 80525

209 E 4th Street Loveland, CO 80537

200 S College Avenue, Ste 160 Fort Collins, CO 80524

4864 Thompson Parkway Johnstown, CO 80534


2720 Council Tree, Suite 178 Fort Collins, CO 80525

We are your Colorado Experts with 4 Prime Locations and Over 700 Years Combined Experience to Serve You! Joel & Chresa Anderson Broker Associates

970-682-8122 Joel | 970-310-3091 Chresa janderson@c3-re.com | chresaa@c3-re.com www.AndersonTeamRE.com

Information is deemed reliable, but not guaranteed. Š 2018 C3 Real Estate Solutions, LLC.

Your Real Estate Connection: The Anderson team  
Your Real Estate Connection: The Anderson team