Tami Spaulding's Blog

Carpe Diem (part 2) - Northern Colorado real estate update cont'd

Fri, 20 Jan 2012 01:00:00 GMT

Here is the 2^nd in our 2 part series of updates on the real estate market in the Northern Colorado area.

If you’ve ever thought of buying real estate as an investment or are considering buying a newly built home, check out part 1 of the blog at http://www.talk2tami.com/Blog

Buyers and Sellers may be confused at the wave of media information on the current real estate market. Is it up, down, is it a buyer’s market or the perfect time to sell.. or both?! Here are some straight answers for home buyers and home sellers in the Northern Colorado area.

For Buyers

Because inventory levels have decreased substantially over the last few years, the market is now positioned to experience increasing prices in certain segments of the market – namely at entry level price points. The greatest risk for a buyer today is WAITING to buy, especially considering interest rates are still holding at historic lows. If you’d like to see just how waiting to buy will affect your long term planning, contact me for more detailed information. If interest rates change as little as .5% it will affect your monthly payment and long term costs of your mortgage loan dramatically.

Buyers who are having the most success today have taken the time to get pre-approved and have partnered with a Realtor who can explain the facts about today’s market. One of the most important things a potential home buyer can do is find a Realtor who is incredibly knowledgeable in their local market, knowing and advising on the trends of each neighborhood as they change.

For Sellers

Homes for sale must be ‘sale ready’! Great condition and proper pricing are crucial in today’s Northern Colorado real estate market. Work with a professional who is familiar with your particular market who can provide up-to-minute statistics for your information. Sellers who have the major components in the home pre-inspected and the necessary repairs made prior to putting the property on the market will avoid possible unpleasant surprises and the potential loss of a sale. Inventory is very low in certain market segments, so now is a great time to enter the market.

Traditionally, February begins a 6 month stretch where buyer activity is the highest. Timing is your friend.

Knowledge is power!

~Tami Spaulding specializes in helping home buyers and sellers in Northern Colorado~

Call us today at 970-377-6003 for all of your real estate needs! Email Tami tspaulding@thegroupinc.com Find us on the web www.Talk2Tami.com

Like us on Facebook & stay connected ~ http://www.facebook.com/pages/Talk-2-Tami/201676469847268

Carpe Diem! The Time is Now...

Wed, 18 Jan 2012 01:00:00 GMT

With interest rates predicted to stay low throughout 2012 (who knows, though!) and a true 'dual market' existing for buyers and sellers, here are some valuable observations for investors and homebuilders in the current market.

This is a 2 part series, so check www.talk2tami.com for part 2!

For Investors

The combination of historically low vacancy rates (1.8 % in Greeley, 2.2 % in Fort Collins, and 3.4% in Loveland), extremely low interest rates, and high demand for rentals has created an ideal situation for investors looking to own rental properties. Do your homework! Get your financing lined up, because available inventory is low and you have to be ready to act quickly when a great property comes on the market. Attend a 'Wake Up Money' seminar at The Group to learn how to build wealth by investing in residential real estate. Call or email me to attend one of our upcoming classes.

For Builders

Large national builders understand the healthy dynamics that the Northern Colorado market has to offer and are actively looking for land. Local builders who are focused on their individual market niche will continue to have success into the future. Realtors play a big part in new construction sales. Take advantage of our wealth of market knowledge regarding floor plans, finishes, inventory status, and best value.

~Tami Spaulding specializes in helping home buyers and sellers in Northern Colorado~

Call us today at 970-377-6003 for all of your real estate needs! Email Tami at tspaulding@thegroupinc.com .

Like us on Facebook & stay connected ~ http://www.facebook.com/pages/Talk-2-Tami/201676469847268

Three’s Not A Crowd: I-25 In Line For More Lanes...Eventually

Mon, 24 Oct 2011 15:08:00 GMT

It’s been a long time on the drawing board, and it may yet be a long time before fruition, but plans are moving forward to widen Interstate 25 between Longmont and Fort Collins. The Colorado Department of Transportation recently disclosed the North I-25 Final Environmental Impact Statement (EIS), which includes a proposal to add one lane in each direction. The result would be three lanes of traffic each way between U.S. Highway 14 (Mulberry Street) in Fort Collins and Colorado Highway 66 on the north end of Longmont.

The EIS, in the works since 2003, also covers plans to add commuter bus and rail service on the I-25 corridor between Fort Collins and Denver, bus service on U.S. Highway 85 between Greeley and Denver, a high occupancy vehicle lane on I-25, and numerous I-25 interchange improvements in Larimer and Weld counties.

But it may not come quickly. In current dollars, the cost of the entire plan would be $2.2 billion. Without new sources of funding, and based on the existing flow of transportation funding, CDOT has reported that it would take until 2075 to reach the stated goals.

The Group Real Estate Insider Vol 35 No 9

Fort Collins, Loveland and Greeley Near The Top For Home Value Appreciation

Mon, 17 Oct 2011 15:41:00 GMT

Northern Colorado’s largest cities are experiencing some of the best home price appreciation in the country, based on the latest Federal Housing Financing Agency (FHFA) quarterly House Price Index.

The Greeley and Fort Collins-Loveland metro areas each landed among the top 12 percent nationally in the FHFA report, showing relative price stability in the second quarter of 2011. The FHFA report ranks Greeley 20th and Fort Collins-Loveland 35th in the index, which tracks 308 metro areas.

Each of the local markets showed price stability compared to the rest of the country, with Greeley experiencing 0.17 percent average home price appreciation over the 12-month period ending June 30 and Fort Collins-Loveland registering a slight 0.44 percent decline in the same period.

Call me to learn more about the FHFA report and what it means for you.

The Group Inc Real Estate Insider Vol 35 No 9

Job Growth Sign of Promise for Northern Colorado Market

Wed, 12 Oct 2011 01:00:00 GMT

It’s a maxim of residential real estate: job growth leads to housing demand, which is followed by housing construction. So the news that Northern Colorado employers have added 4,300 jobs over the 12-month period ending in June bodes well for the local housing market in 2012.

The job formation figures, reported by market analysis firm Metrostudy, stand out in several ways. Not only has Metrostudy tracked 12 consecutive months of job growth in Northern Colorado, but the 4,300 new jobs in the region more than double the job growth in the Denver metro area over the same time period. Of the 4,300 jobs, more than half--2,300--were generated in the professional and businesses services category, while another 1,200 came from the education and health services sector.

As a general rule, housing tend to increase roughly a year after job growth increases. Metrostudy’s research shows that Northern Colorado is positioned for new construction activity next year to meet the demand created by our increasing population and employment.

The Group Inc Real Estate Insider Vol 35 No 9

Sales Tax Figures Reflect A Local Retail Revival

Wed, 05 Oct 2011 11:08:00 GMT

You may have noticed Northern Colorado has been looking a little greener this summer.

Based on recent sales tax collections in the region’s biggest towns, shoppers are spending more - which is providing more funds to local treasuries. Through June, sales tax collections were in positive territory to the tune of 3.9 percent in Fort Collins, 5.66 percent in Loveland and 8.8 percent in Greeley. Recently, Fort Collins also posted healthy July collections, which pushed the year-to-date growth figure up to 4.4 percent.

The Group Inc Real Estate Insider Vol 35 No 8

Cabela’s Casting An Eye on Northern Front Range?

Thu, 29 Sep 2011 08:37:00 GMT

Cabela’s, the legendary outdoors retailer that lures many Colorado residents to drive to Sidney, Nebraska, may be thinking about bringing the hunting and fishing haven a little closer to the mountains.

Although you may not hear it from them.

The hint about Cabela’s plans came from a Jefferson County Commissioner last month. Moments after Cabela’s decided not to build a new store in Wheat Ridge, Jefferson County Commissioner Faye Griffin told the Denver Post, "What we understand is that Cabela’s is planning on building two other Cabela’s, one maybe as far north as Fort Collins and one maybe in Colorado Springs."

An official comment from Cabela’s said, "We are not aware of plans to build a store in Northern Colorado at this time." But then again, a savvy hunter isn’t likely to tip off their intentions.

For the record, Cabela’s has one store in Colorado―in Grand Junction. It has built "destination" stores in Owattana, Minnesota, and in Kansas City, Kansas, both in excess of 150,000 square feet, which are considered tourist attractions in those communities.

The Group Real Estate Insider Vol 35, No 8

CSU, Fort Collins Makes Fast Friends in Gig. U Alliance

Mon, 26 Sep 2011 09:17:00 GMT

Colorado State University and the city of Fort Collins are stepping onto the frontier of high-speed internet. CSU is one of 29 universities and municipalities to join the Gig. U: The University Community Next Generation Innovation Project.

Developed by the Aspen Institute, the Gig. U initiative is designed to speed the growth of high-speed internet networks for its members. Universities gain from the access to expanded internet connections that support research and distance learning, which communities benefit from economic development opportunities made possible by high-speed connections.

The Group Inc Real Estate Insider Vol 35, No 8

Pace of foreclosures in Northern Colorado improves significantly

Mon, 12 Sep 2011 12:43:00 GMT

Consider it one more likely sign of a housing market that's regained its footing.

The number of foreclosure filings in the area have fallen sharply in recent months. Weld County, for instance, experienced a 32.8 percent decline in filings during the second quarter (April-June). A the same time, filings in Larimer County fell 17.6 percent. Total filings between the two counties dropped from 1,088 in the second quarter of 2010 to 792 this year. Statewide, the Colorado Division of Housing reported a 28.2 percent drop in filings from the first half of 2010 to the first half of 2011.

The Group Inc. Real Estate. (2011). Pace of Foreclosures in Northern Colorado improves significantly. Vol. 35, No. 8.

The right time for real estate investing is right now

Tue, 06 Sep 2011 13:10:00 GMT

Current market conditions have created an environment for real estate investors that is unique in the history of the Northern Colorado Market. Record-low interest rates, increasing rents, record-low vacancy rates, and stable prices - the stars are aligned for people who will take advantage of this unique opportunity to build their real estate portfolios.

Savvy investors are attracted to real estate for five main reasons:

1. Cash flow - given today's record-low interest rates, opportunities exist for real estate investors to rent their properties for more than the monthly cost of ownership.

2. Leverage - relatively large amounts of real estate can be purchased with a relatively low amount of cash. Most investment properties can be purchased with 25% down. The short-term goal is to use leverage to acquire a portfolio of real estate. The long-term goal is to pay the loans off and own properties free and clear.

3. Debt Reduction - Real Estate is one of the few investments where someone else will make the payments. In essence the tenant makes the payments and reduces your debt each month.

4. Tax Savings - Real Estate investors are allowed to depreciate the property and write off expenses in order to reduce taxes.

5. Appreciation - Over time the value of property has risen in the Northern Colorado market. Even though the values have increased, at The Group we believe appreciation is the "icing on the cake," not the cake. Real estate investment makes good financial sense even without appreciation.

Helping our customers create financial freedom is one of our company's goals.

Attend our "Wake-Up" Money seminar on Monday, September 19th, to learn how you can begin building wealth be investing in real estate. Call me for details!

The Group Inc. Real Estate. 2011. The right time for real estate investing is right now. Vol. 35, No. 8.

Real Estate by the numbers in northern Colorado

Mon, 29 Aug 2011 12:27:00 GMT

* 25,000 - the square footage of the new TJ Maxx store at the Centerplace of Greeley II shopping center, 4578 Centerplace Drive

* 16,000 - The square footage required for a new canning line proposed by the New Belgium Brewery in Fort Collins.

* 10 - the number of years on the lease that All Occasions Catering signed at Drake Centre in west Fort Collins. All Occasions will take over 26,000 square feet of space at the one-time Steele's Market location.

* $8 million - the cost of expanding and remodeling the Loveland public library. The first phase of the project - a 24,000-square-foot addition - was due for completion on August 8th.

The Group Real Estate (2011). Real Estate by the numbers. Volume 35, No. 7

Northern Colorado: Top 12 Home Remodeling Trends Reveal Trend of Tackling Small Projects

Tue, 23 Aug 2011 14:52:00 GMT

CBS-moneywatch.com commissioned a poll from the National Association of Remodeling Industry and determined most people are not starting major renovation projects due to the economy, but are taking care of the smaller jobs around the home

Trends:

Update bathroom- even if it’s only replacing grungy tile.
Tackle “have to” projects such as siding repairs/leaks.
Warm up the house with earth tone colors. White is out!
Add or update a deck to increase outdoor living space.
Take you time and hire a great contractor.
Pay in cash.
Open up rooms to maximize flexibility with current square footage.
Go bronze which complements the trend towards warmer colors.
Go green with triple-paned windows, bamboo floors, thatched roofs or even bark siding.
Bring in an industrial flair with stainless steel cable and architectural products.
Create a relaxation space, which might include a zen-like bathroom.
Plan ahead for you aging body with easy-open cabinets, hand-held showers and accessible kitchen and baths.

The Group Inc Real Estate Insider Vol 35, No 7

Northern Colorado Market Trends

Fri, 19 Aug 2011 11:53:00 GMT

The Group’s team of sales partners met recently to discuss the trends so far this year in the Northern Colorado market. Here are themes that have combined the first part of 2011:

UP- Multiple Offers: High demand and low inventory in certain price ranges and neighborhoods has caused strong competition among buyers. This has lead to multiple offers being received on single properties.

DOWN- Homes for Sale: The number of properties on the market is down 13% compared to one year ago. There are many segments of the market that are under-supplied.

UP- Out-of-State- Buyers: Activity from out of state buyers has increased dramatically as the Northern Colorado region continues to receive high accolades from the national press.

DOWN- New Home Supply: The months supply in the new home market is at the lowest levels in the last five years.

UP- Investor Buyers: Low interest rates and low vacancy rates have provided the best investor market in many years.

The Group’s sales partners also noted a significant increase in home sales in certain price brackets from the first quarter to the second quarter of 2011:

Greeley- homes priced between $400,000 to $500,000 increased by 266%
Fort Collins- homes priced over $500,000 increased by 193%
Loveland- homes priced between $300,000 to $440,000 increased by 100%
Windsor- homes priced between $160,000 to $240,000 increased by 97%

The Group Inc Real Estate Insider Vol 35, No 7

Northern Colorado- I25 Interchange at Windsor Exit to Undergo Makeover

Thu, 11 Aug 2011 08:59:00 GMT

Long-awaited improvements to the interchange at I25 and Colorado Highway 392 are expected to begin construction this August. Look for the upgraded highway junction- a traffic snag for several years at morning and evening rush hours- to ease regional travel and even enhance the potential for commerce for local businesses.

The Group Real Estate Insider: Vol 35, No 7

Downtown Development: Surge of Activity in Loveland and Fort Collins

Fri, 05 Aug 2011 11:04:00 GMT

A pair of multi-family projects are mixing up commercial construction in two of the region’s downtown districts… and one local builder is in the middle of both initiatives.

Fort Collins based Brinkman Partners is planning a 72-unit project at 6^th St and Lincoln Ave in Loveland. Brinkman is negotiating with the city of Loveland to take over the 0.64 acre site, where the builder would construct apartments and live-work units.

At the same time, Brinkman broke ground in July on a four-story, 30 unit apartment building in the Penny Flats development in downtown Fort Collins. Lease rates for the project, call Mason Street Flats, will range from the mid $800’s to $1,600.

In each city, the Brinkman projects are part of a broader wave of activity. In Loveland, the $4.2 million, 20,000 square-foot Rialto Bridge development is under construction. Scheduled for completion in January. Rialto Bridge will feature office space, a tapas bar and a community gathering space. In Fort Collins, the former Mountain Shop outdoor store at 630 S Mason St is underwent remodeling to become the city’s newest craft beer haven, called the Mayor of Old Town- now open.

Fort Collins- Investor Acquires South College Building for $1.9 Million

Mon, 01 Aug 2011 13:44:00 GMT

Roseben Inc, a California-based investor, paid $152.86 per square foot to buy the Fairway Estates Commercial building at 4900 S College Ave. Roseben acquired the 12,429 square-foot building for $1.9 million in a 1031 tax-deferred exchange.

The building, constructed in 1983 and remodeled in 2007, is occupied by Avis Rent A Car, VCA Animal Hospital and Caliber Funding.

The Group Real Estate Insider Vol 35 No 7

New FHA loan information

Thu, 21 Jul 2011 16:07:00 GMT

New FHA loan limit will be released effective August 1st. The amount for both Larimer and Weld counties are: $271,050.

Please contact Tami K. Spaulding with more details and information.

Real Estate By The Numbers

Mon, 18 Jul 2011 16:56:00 GMT

28.9- The percent decline in foreclosures in Weld County between May 2010 and May 2011.

36- The number of federal properties in LarimerCounty that have been identified for disposal. The list includes seven Forest Service buildings in Fort Collins.

$5.2 million- The amount Coca-Cola will pay Colorado State University for a 10-year promotional agreement.

From The Group Real Estate Insider Vol 35, No 6

The Group difference

Wed, 25 May 2011 17:10:00 GMT

The Group Real Estate is ranked 3rd in the nation sales volume per sales associate for the year 2010 and the 2011 Power Broker Report compiled by RIS Media. The magazine's 23rd Annual Report gave a detailed break-down of year-end production numbers for the 300 most successful real estate companies nationwide. Nearly 1,000 companies responded to the survey.

The Group closed 3,523 transactions, averaging over 22 transactions per associate in 2010, and totaling $922,339,823 in sales volume.

President, Eric Thompson responded to the recognition by saying, "The customer never needed the assistance of a true real estate professional more than today. Customers today deserve to work with the very best-someone who will help them achieve their goal in the time frame that they need. Group Realtors are some of the most productive Realtors in the country and I believe our customers find value in that."

The Group Inc. Real Estate. (2011). The Group Difference. Volume 35, No. 4

New Owners aim to rev up former Windsor (West Greeley) car complex

Thu, 19 May 2011 01:00:00 GMT

Two different buyers claimed portions of the former Iron Mountain Autoplex in Windsor, indicating that fresh commercial activity may be in store for the U.S. Highway 34 corridor. Martin Lind, developer of the sprawling Water Valley mixed-use project paid $2 million for a 42,161 square foot building that once housed the Iron Mountain Chevrolet dealership. Lind and his representatives have hinted that plans are under way to develop the building and grounds, but he's not ready to disclose his vision for the site. Including previous holdings, Lind now owns 72 acres in the vicinity of the former auto plaza.

In a seperate deal, Kansas-based Berry Companies has placed the 17,635 square foot former Mazda dealership under contract. Berry Companies operates two Bobcat of the Rockies construction equipment dealerships in Northern Colorado - one in Greeley and one in Fort Collins. Company officials have stated they plan to consolidate the two sites in the Mazda building.

The two acquisitions represent another wave of good economic news for Weld County, which has recently experienced a surge of job growth due to oil and gas development in the Niobrara Formation.

The Group Inc. Real Estate. (2011). New Owners aim to revup former Windsor (West Greeley) car complex. Volume 35, No. 4.