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Tami Spaulding's Blog

Tami Spaulding

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Displaying blog entries 1-10 of 287

GROUP MORTGAGE PUSHES THE PACE WITH EXPRESS CLOSING.

by Tami Spaulding

Walk into a traditional mortgage loan closing today and you’re likely to be looking up – at a mountain of documents some 150 pages high. And best bring a trail snack and a bottle of water to get through the hour-plus course of reviewing and signing documents. Beginning July 1, The Group Mortgage, LLC blazed a new, low-altitude trail for the closing process. Called Express Closing, the new approach can usher homebuyers through the closing session in as little as 20 minutes, and with as few as 20 documents. Express Closing is grounded in a concept developed by Jason Peifer, branch manager and loan officer for The Group Mortgage. Essentially, the new process sought to eliminate long-standing duplication from the document set, and then dispatched most of the documents via email to the borrower for their review and electronic signatures ahead of the closing appointment. “With TRID (a recently established disclosure regulation for home loans), we have to send out closing figures three days prior,” Peifer said. “The thought came to me, why not send any other documents that we can electronically so the client has time to review in advance.” The net effect: by the time borrowers arrive at an Express Closing, the number of documents to see is pared down to small fraction of the full set, and borrowers only need to make a handful of “wet” signatures to complete the loan. “I never want to hear that joke again, ‘Oh, my hand’s cramping,’” Jason said. “The closing should be the highlight (of the homebuying process). It should be the touchdown dance – not this long arduous process.”

 

 

The Group Incs Insider August 2017

REAL ESTATE BY NUMBERS

by Tami Spaulding

$1.6 billion. The estimated economic impact that cheesemaker Leprino Foods has made on the Greeley-area economy since it opened a new plant in 2010. The estimate was reported by Upstate Colorado, the economic development agency for Weld County. 0.52 percent. The effective property tax rate for Colorado homeowners in 2016, according to an analysis by ATTOM Data Solutions. By comparison, the national average is 1.15 percent. $28 million. Amount that Anheuser-Busch plans to invest at its Fort Collins brewery. The investment would expand production of aluminum bottle products and increase diversity of products through installation of dry hop capabilities. 225,000. Square footage that pharmaceutical maker Tolmar Inc. wants to add to its Windsor facility. The addition would include space for manufacturing and administrative offices. Tolmar operates a 110,000-square-foot research and development facility in Fort Collins. $10.15 million. Sale price for the Armstrong Hotel in downtown Fort Collins. Wyoming-based Crystal Creek Capital bought the 45-room, three-story hotel, 259 S. College Ave., from the Levinger family, which had owned the building since 2002. 380,007. Cubic yards of rock that work crews have blasted and hauled away thus far during the reconstruction of U.S. Highway 34 in the Big Thompson Canyon. 410. Number of new hires by Banner Health as of May 1 at its Colorado operations, most of which are located in Northern Colorado. $9.2 million. Amount that United Power paid for the vacant 130,117-square-foot building along Interstate 25 in Longmont. Once home to Abound Solar, the building is located at 9586 E. I-25 Frontage Road. 348. Number of breweries in Colorado, which is second only to California for the total number, and first in breweries per capita - six for every 100,000 residents. $4.7 million. Price that the owners of A&A Dairy paid for a 7,080-square-foot office building in the 2534 development, located at the southeast corner of Interstate 25 and U.S. Highway 34. The property was sold by an entity controlled by Chrisland Real Estate Cos. $50.1 million. What California-based Cress Capital LLC spent to buy approximately 500,000 square feet of office and industrial space across seven buildings in Fort Collins. the largest of the deals was $25.8 million for property in Midpoint Park in east Fort Collins. $22.6 million. What Loveland-based real estate developer McWhinney paid to buy the 123-room Hyatt House Denver Airport Hotel, located at 18741 E. 71st Ave. 650. The estimated number of employees that Google now employs in Colorado, roughly doubling its headcount over the past two years. Google has offices in Thornton and Boulder. 2.9. Acreage for Copperleaf Place, a new apartment complex to be located near the intersection of Shields Street and Horsetooth Road in southwest Fort Collins. The project, scheduled for completion by late June 2018, will include three buildings ranging in size from 24 to 36 units.

 

 

The Group Incs Insider July 2017

LAWSUIT ZINGS ZILLOW FOR ITS ‘ZESTIMATE

by Tami Spaulding

The online real estate marketing company Zillow has rapidly made a name for itself by providing easily accessible estimates for home values. Just key in an address, and up pops a property description and a dollar figure. The trouble is, according to a lawsuit recently filed against Zillow, is that the so-called Zillow “Zestimate” is too easily confused by potential buyers as a real appraisal. And that’s a real problem if Zillow’s figure is not in line with the genuine market value. Resulting expectations for would-be buyers can become hard to resolve. To Zillow’s credit, the firm doesn’t call the Zestimate an appraisal, and it provides a disclaimer as to the accuracy of its figures. In fact, the Zillow Zestimate lands within 5 percent of the actual sale price 53.9 percent of the time. The lesson to be learned: by working with a local, professional Realtor, both buyers and sellers can be more confident they are working with price figures that stand up to scrutiny.

 

The Group Inc's Insider July 2017

SOME COLORADO VISITORS LIKE IT HOT

by Tami Spaulding

Sure, Colorado has gorgeous mountains, but when would-be tourists visit Colorado.com – the official website of the state tourism office – they’re thinking more about climbing in than climbing up. The most popular search term entered on Colorado.com is “hot springs.” In fact, the lure of soaking has inspired a group of five popular hot springs locations to create the Colorado Historic Hot Springs Loop. The 720-mile hot springs road trip covers 19 facilities in Buena Vista, Nathrop, Salida, Pagosa Springs,  Ouray, Ridgway, Glenwood ​Springs and Steamboat Springs.

 

The Group Incs Insider July 2017

SEARCHING FOR FORT COLLINS: WHO WANTS TO KNOW?

by Tami Spaulding

Given the wealth of publicity splashed upon Fort Collins due to positive rankings on many qualityof-life surveys, it’s expected there would be some curiosity seekers checking out the Choice City. But from where, exactly? Based on online searches with The Group Inc. and from the tourism agency Visit Fort Collins, there’s apparently a soft spot for Fort Collins deep in the heart of Texas. A search assessment shows that Dallas ranks as the leading out-of-state source for people inquiring about Fort Collins. Adding up visits to The Group Inc. website from April 1, 2015, through May 31 of this year, Dallas ranks No. 6 among all cities in the number of searches generated. For Visit Fort Collins, Dallas is No. 3 thus far in 2017, up from 2012 when it was No. 5. The reasons for the Texas ties are not clear, although vacationers from the Lone Star State have long flocked to Colorado, and particularly Estes Park and to the ski areas. Otherwise, it’s easy to speculate that growth in energy development in Colorado may prompt more interest from Texas, which is the center of oil and gas industry in the United States. Most out-of-town searches are still from within Colorado, led by Denver and Aurora residents. For Visit Fort Collins, other leading out-of-state sources include Chicago and Cheyenne. 

 

The Group Incs Insider July 2017

THINKING OF SELLING YOUR HOME? PERFECT TIMING TO REAP PROFITS

by Tami Spaulding

If the three most important words in real estate are “location, location, location,” then “timing” must be a close fourth. And for multiple reasons, the timing couldn’t be better for existing owners in Northern Colorado who may want to sell. Start with a recent report that shows the Greeley and Fort Collins markets were two of the most profitable places in the country for sellers during the first quarter of 2017. While the average seller in the United States made a 24 percent return on investment (ROI) during the first three months of the year, Greeley-area owners garnered 44 percent and Fort Collins-area owners reaped 43 percent. In fact, the study by ATTOM Data solutions ranked Greeley No. 12 and Fort Collins No. 13 nationally for seller profitability nationwide. The ATTOM study echoes a Federal Reserve report from last summer which showed that residential real estate added $498 billion in value during the first quarter of 2016. And more recently, Greeley and Fort Collins ranked among the top 25 cities nationally for price appreciation in the first quarter of 2017. It’s no coincidence that Northern Colorado is experiencing the best “move-up” market in decades. At the same time owners of entry-level and mid-price-level homes are enjoying sharp appreciation – thanks in part to tight supply – the supply of homes in higher price ranges is more abundant. Northern Colorado isn’t alone in experiencing a strong seller’s market. According the National Association of Realtors, homes sold in March were on the market for an average of just 34 days, down from 47 in March 2016. Call me if you’d like to learn more about how your home has appreciated and determine if it’s a good time to sell.

 

The Group Real Estate  Insider July 2017

FORECAST OR FICTION? LOCAL MARKET ON SOLID FOOTING

by Tami Spaulding

An out-of-state data analysis firm recently made headlines with a prediction that Front Range home prices would start falling in 2019, driving median home values down by 5.5 percent in the Fort Collins area by 2022. While Greeley-area prices are expected to stay level, the firm’s outlook says Denver prices will fall 11 percent and Boulder will fall 17 percent. There are ample reasons why this forecast, which appeared as front page news in the April 16 Denver Post, doesn’t add up. Let’s start with these four: • First, as anyone trying to buy house on the northern Front Range can attest, the availability of homes for sale is tight all over—a trend that’s not likely to change soon. Low supply and solid demand is just the opposite of the formula for falling prices. • The forecast points to how local household incomes are not keeping up with prices, and the lack of affordability means something must give. But in assessing college towns like Fort Collins, Greeley and Boulder, standard income data doesn’t account the impact of students on average household incomes. • As we’ve outlined here before, affordability is not just about incomes. Mortgage rates (still hovering at historic lows) and property taxes (Colorado’s are among the lowest in the nation) need to accounted for when measuring purchasing power. • Remember the Great Recession of 2008- 2010? Fort Collins prices dropped less than 4 percent in that period. For the dire forecast to come true, the metro area selected as the most stable real estate market in the country will need to lose more value between 2019 and 22 than it did during one of the country’s most severe economic downturns. 

 

The Group Incs  Insider       June 2017

STUDY: EQUITY RIDING HIGH FOR COLORADO HOMEOWNERS

by Tami Spaulding

A new report shows that nearly 98 percent of Colorado homeowners with mortgages held positive equity in properties at the end of 2016. As a result, Colorado stands behind only Texas, 98.4 percent, and Hawaii, 98.1, among the 50 states and the District of Columbia. At 97.9 percent, Colorado is tied with Oregon, Utah, and Washington. Nationally, 93.8 percent of homeowners with mortgages hold positive equity, according to a study by CoreLogic, a real estate analysis group. In a related statistic, the average Colorado homeowner gained about $24,000 in equity during 2016, compared to a nationwide improvement of $13,700 per homeowner. Again, only two states – Washington at $31,000 and California at $26,000 – experienced greater equity growth last year. Other highlights of the report: • Total homeowner equity across the U.S. increased by $783 billion in 2016. • About 1 million borrowers moved out of negative equity territory last year. • Among major metro areas, Denver tied for second at 98.5 percent, following San Francisco (99.4).

 

The Group Incs Insider  May 2017

WINDSOR PACKING A WALLOP IN NORTHERN COLORADO

by Tami Spaulding

Long-time residents of Northern Colorado might remember when Windsor was described as “that little town somewhere in between Fort Collins, Greeley, and Loveland.” Today, Windsor is carving out a big name for itself on the Front Range real estate map. Amidst a flurry of new business activity, population growth and home construction, Windsor is arguably the hottest housing market in the region. Not only did Windsor issue more permits for new single-family homes (690) during 2016 than any other town or city in the region – 32 percent more than Fort Collins – it already had 589 permit-ready lots available to builders when the year began. Through the first two months of this year, the town issued 86 permits up from 77 at the same time last year. Even more, there are 301 permit-ready lots of multi-family housing. And as the larger towns of Fort Collins, Loveland and Greeley all experienced a decline in the number of total home sales during the first quarter of 2017, Windsor’s sales were up by 8 percent. And Windsor officials can point to key reasons that the pace could continue. Most of all, employment is poised for expansion. As of last month, the town was working with 51 active business prospects, according to town officials. With development land available in multiple business parks, railroad service, and a location that’s roughly half way between two major east-west Interstate highways (I-70 and I-80), Windsor has become especially inviting as a site for distribution facilities. While Windsor officials estimate existing population at 25,000, there is an eye-opening hint at what’s to come. Based on current zoning and town development practices, Windsor projects a total population capacity of 100,000 residents. Don’t bet against it. Call me to obtain a detailed map on the recent growth of Windsor’s different neighborhoods.

 

The Group Inc's Insider         May 2017

REAL ESTATE BY NUMBERS

by Tami Spaulding

$7.1 million. What the University of Northern Colorado earned from the sale of University Apartments in east Greeley. The new owners plan to keep the 98-unit complex, 509 18th Street, as student housing. $3.05 million. Purchase price for the Maplewood Shopping Center, a 17,614-square-foot strip mall in Eaton. Built in 2004, the center was sold to Sang Y. Seo of Sky Inc. 5.1 percent. Colorado’s annualized growth rate for gross domestic product during the third quarter, which ranked fourth among all states. $11.3 million. What Alaska-based investors paid for a 152,000-square-foot industrial building in the Campus at Longmont business park. It’s currently occupied by GE Lighting-Albeo. 366. Number of apartment units proposed on a 24.9-acre site at the southwest corner of the Harmony Road-Strauss Cabin Road interchange in south Fort Collins. $13.6 million. Sale price for the Mill House Apartments, a 54-unit high-end property in Fort Collins’ Downtown River District. The complex was built in 2015. 84,000. Square footage for a proposed new office building at Centerra Industrial Park, near the Northern Colorado Regional Airport in Loveland. McWhinney Real Estate Services Inc. is developing the project. $4.3 million. Purchase price of a 34-unit townhome complex in west Loveland. Located at 701 S. Tyler Street, the 34,954-square-foot complex was built in 1971. 20,000. Square footage at the Loveland Good Samaritan Village that is targeted for renovation. Fort Collins-based Dohn Construction Inc. won the contract for the project. Plans call for a new recreational and wellness facilities. $24.4 million. Price paid for a 13,700-square-foot mansion located five miles northwest of downtown Aspen, the highest price paid for an Aspen home since the beginning of 2016. 51.1 percent. Share of all residential listings at the end of last year that were considered luxury homes in the nation’s 100 largest housing markets, according to Trulia. 94. Number of multi-family units proposed for the Copperleaf development, planned for a 2.98-acre site near the intersection of Shields and Richmond streets in southwest Fort Collins. 58.3 million. Number of travelers registered at Denver International Airport in 2016, beating the previous annual record – set in 2015 – by more than 4 million. The single-busiest day in 2016 was the Sunday after Thanksgiving, when 188,486 passengers used DIA. 6. Rank of Colorado State University nationally among large colleges for the number of Peace Corps volunteers produced. Currently, 54 CSU alumni are working for the global service organization. CU-Boulder ranks NO. 11 with 47. 2. Based on demographic data, WalletHub claims that Colorado is the second-best state for single people to find companionship. Among the metrics, Colorado is No. 6 for the ratio of single women to single men, and No. 4 for online dating opportunities.

 

 

The Group Incs       Insider    April 2017

Displaying blog entries 1-10 of 287

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Photo of Tami K. Spaulding Real Estate
Tami K. Spaulding
The Group, Inc.
375 East Horsetooth Road
Fort Collins CO 80525
Direct: 970-377-6003
Office: 970-223-0700
Fax: 970-223-2999