Great news from the Federal Housing Finance Agency with their highly anticipated 4th quarter home sales price statistics. Overall, the state of Colorado ranks 3rd across the nation in home price appreciation with a projected one-year rate of 2.76 percent. In the previous quarter, Colorado was ranked 9th in the nation.
Additionally, the Fort Collins/Loveland area is ranked 80th among major metropolitan areas across the nation with a one-year projection of -1.38 percent and edging just past the Boulder metro area, ranked 82nd, with a one-year projection of -1.45 percent. The Denver metro area still leads Colorado at the 79th place with a one-year projection of -1.37 percent.
In the last quarter, Fort Collins/Loveland ranked 108th across all other metro areas with a one-year projected appreciation rate of -1.15 percent. Boulder ranked 84th with a rate of -0.56 and Denver ranked 112th with a rate of -1.19 for the 2009 3rd quarter.
Use this list from Realtor Magazine for some quick, easy updates that can help you have your home looking its best in no time! Here’s their list:
Buff up curb appeal
Enrich with color
Upgrade the kitchen and bathroom
Add old-world patina
Screen hardwood floors
Clean out and organize closets
Update window treatments
Hire a home inspector
With just a few quick, easy home upgrades, you could easily add a momentous amount of value to your home! It’s also good to always remember that sometimes you can gain the most value on your home by just fixing a lot of the “little” problems. Some of the bigger projects are not always worth the time and effort for the amount of value you will get out of them!
To read the full article from Realtor Magazine, click here.
Check out this month’s issue of Alice P’s Market Update that is now online by clicking here. This month’s issue includes a feature article from our stager, Kathy Lanning; some great resources and tips for earning rebates and tax credit for purchasing energy-efficient appliances, and a brief look at how interest rates really affect your monthly mortgage payments and 30 years worth of savings.
At the recent International Builders Show–held in Las Vegas–people saw some trends in homes that were popular across the board. Paul Cardis, CEO of Avid Ratings, lists the Top 10 Trends seen at this year’s show:
1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable
Although short sales are likely to increase in 2010, the jump in these transactions is unlikely to have any real impact on the housing market, according to a new study by Housing Predictor. While more at-risk homeowners are turning to short sales as an alternative to foreclosure, Housing Predictor says the small number of short sales that are actually approved by banks represent less than 1 percent of all homes facing foreclosure. In the first half of 2009, only 40,000 short sales were completed, according to the most recent data available from the Office of the Comptroller of Currency shows.
In addition, Housing Predictor said only an estimated 8 to 12 percent of all homeowners who request short sales accomplish a completed transaction. Because lenders only write off short sales as a loss when a property is sold, this small percentage of completed transactions leaves a gaping hole in the troubled banking industry’s problem with short sales.
Check out this month’s issue of Alice P’s Market Update by clicking here. This month we introduce the new rebates program for home owner purchases of Energy Star Appliances. We also have included the full NAR Profile of Home Buyers and Sellers, which takes an in-depth look into overall buying and selling trends over the past year. And last, but not least, our Healthy Home Tips section this month has some great ideas for budgeting organic foods into your diet. Enjoy!!
Click here to view more info. on our newest listing at 312 Lucca Drive in Evans, priced at $113,500. Adorable 2 BR/2BA end-unit condo with special layout that includes full utility area with closet! Bright west/southwest exposure with inviting outdoor front patio area. Gas fireplace in the living room, vaulted ceilings, central air, maple cabinetry and fabulous tile work. Full master bath and great views out secondary and master bedroom. Contact us today to schedule a showing!
The Northern Colorado Business Report recently published an article with favorable expectations for home prices for the upcoming year.
Based on data from First American CoreLogic, an online organization that provides information on real estate and mortgage transactions across the country, home prices across the nation are expected to finally be appreciating by October 2010, with prices finally bottoming out in March.
Click here to read the full article from the NCBR.
Any homeowners who have been thinking about upgrading their home appliances should make the decision to do so—starting in March. As a part of the Recovery and Reinvestment Act of 2009, each state has been given funds to rebate homeowners for their participation in purchasing Energy Star home appliances.
Colorado has been granted $4.7 million for this project to rebate back to any homeowners who participate in the program. The program is tentatively set to begin in March—so hold off on any appliance purchases until then.
Eligible appliance upgrades include:
Refrigerators
Washer/Dryer
Dishwasher
Gas storage water heaters
Gas tankless water heaters
Gas furnaces
Gas boilers
For more information on appliances and pricing, visit Energy Star’s web site by clicking here.
The program does not include retroactive purchases, so be sure to wait for the launch of the program before you purchase any new appliances. Similarly, not all appliances qualify. The Governor’s Energy Office web site has more information for program participants. The program will be continued on until the funds are exhausted—so don’t wait too long to get started on renovation projects!
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