Real Estate Outlook: Key Indicators Point Up, an article from Realty Times, reports that economic signs pointing to a recovery underway in the real estate market keep getting stronger week after week. Last month, pending home sales jumped 3.2% - two months in a row of positive growth. According to Lawrence Yun, chief economist for the NAR, we're now at "the leading edge of first-time buyers responding to very favorable affordability conditions, and an $8,000 tax credit." Mortgage applications for home purchases were up 5% nationwide last month. Mortgage rates are starting to rise in response to the growing demand for mortgage money - though still close to historic lows. The affordability index is near its all-time best. Consumer psychology is turning positive on housing. According to the Gallup polling organization, 71% of Americans feel that it is a good time to purchase a house - up 18% in a year, and the highest level in four years.
http://realtytimes.com/rtpages/20090512_realestateoutlook.htm
Looks like a lot of the new buyers are taking advantage of the tax credit. For more info about how the tax credit works see below.
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One great way to compare where we are and where we might be headed is to look at the trends shown is sales over the last few years and compare that to the sales we are having so far this year. I hope this is helpful to any currently trying to understand our market. We are pretty lucky to be in Fort Collins where we have a very stable Real Estate Market with lots of demand for homes.
To Really use these stats we have to get into each price range and look the the monthly numbers are well but you can see in this chart we are selling less inventory in 2009 then we did in the past 2 years. As far as the monthly stats in our area lets look at those below .
The bulk of our current market is in the $180,000.00 to $240,000.00 price range. The median home price being about $230,000.00 in our market. I have added the Statistics for those price ranges in the last few months below. In this price ranges you can see the average home is taking only 3 months to go under contract. I have seen a few of my listings have multiple offers when priced right for the market. Fort Collins is just entering the Hot Season for selling and these Statistics make me believe it will be a great summer. If you have any Questions i love to talk Shop! Call me anytime.
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It is that time of year again! Skateboard Contest May 16th at the Northside Park. For info and updates go to www.skateboardmarket.com or call the Market at (970) 407-1767. Should be an amazing time and i am sure some great stuff will go down! Tons of great sponsors and the Market always makes the contests the best. They do so much for the local Skateboaring scene! Don't miss this sweet summer kick off.
Just when you felt like there was too much to eat in the Harmony Area. I can't wait! I already have plans to go Thursday!
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SEC chief says new short-selling rules a priority
Let all hope that some bank guidelines will help. Right now it is such a crap shoot. I am trying to help these people unload the homes they are in. With the current 2 i have great offer that are about market value and 90% of what the bank loaned. I know they would love to say yes but getting to the Person who can make a decision is impossible. (notice i did not say fast decision, that in like a Unicorn, Imaginary Creature!)
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Local Realtor and Investor who grew up in the area. I have owned property in Northern CO for over 10 years. Let me help you with your Real Estate Goals and Needs. Got Real Estate? 970-231-0890
Search Properties and Home Values at
or call me (970) 231-0890
Marcus was born in Denver and grew up in Fort Collins. In 1992, he participated in the Vans World Amateur Skateboarding Finals. After his stint as a sponsored skateboarder, Marcus opened The Market, a skateboard and snowboard shop in downtown Fort Collins. He also founded a sprinkler and landscaping company to help offset costs and maximize profits on his properties. Having eight years of real estate investment experience under his belt, Marcus ultimately decided to get his real estate license in 2004. Since then Marcus has been featured on the TV show House Hunters and been involved in many Commercial and Residental projects. Most recently working with co-investors redeveloping a city block next to UNC in Greeley.
Marcus is married to his high school sweetheart, Melissa, and has three beautiful children.
With extensive experience in residential and commercial investment property, as well as development consulting, property management and new construction. Marcus has worked in foreclosures and short sales helping many clients out of difficult situations. The Got Real Estate Team which Marcus is a part of was Awarded the Platinum Sales Award last year. Marcus is currently working on his CCIM designation. Marcus is also an Eco-Broker!
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