Leslie Leis' Real Estate Blog

As most people know that the federal government 1st time home-buyer $8,000 tax credit that was offered to all that closed on a home prior to June 30,2010 caused a large increase in national real estate sales in June, but what many may not know is what did that tax credit do the the market in July?

Due to the large amount of buyers and sellers that closed on their homes in June there was a huge decrease in residential sales in July. I personally believe that the Tax Credit moved buyers in and out of the market faster then normally which in turn caused an unrealistic and unsustainable increase in the real estate market not just locally, but also nationally for the months of April, May, and June. This was a great thing at the time, but since it just accelerated buyers that would be buying any way it really affected the sales numbers for the following months of July, August, and potentially September.

According to the Northern Colorado Business Report the local Northern Colorado Real Estate Market had seen six consecutive months of increased sales each month until July. In Fort Collins there were 104 sales less in July compared to June, and 13.1% more homes sold in 2010 so far as 2009. In Loveland there were 169 homes sold in June and only 111 sold in July, but the overall home sales are still up 10.4% over the same period in 2009.

As a consumer you might ask what does this mean for the Northern Colorado Market? My personal opinion is that, yes, we saw a slow down in sales in July, but that is only because many of the people that would normally be selling in July sold or bought in June to take advantage of the Tax Credit. Even though the sales in July were slow we have seen an increase in market activity in August. Showings are up as well as many REALTORS are reporting that they are having more buyers enter the market to find homes. This is a good thing! It may take a few months for the sales to increase back, but nonetheless we are still seeing a fair amount of activity in the Northern Colorado Real Estate Market.

Northern Colorado Real Estate Specialist

As an expert in my Northern Colorado Real Estate Market I am always seeking to keep up the latest and greatest attractions to our community. The other day I was driving in Loveland and I came across a Brew House. I come to find out that The Grimm Brothers Brew House is Loveland, CO’s Newest and Oldest Brewery. Located just south of Hwy 34 on Denver Ave. This small brewery was started in late July this year.

The owners of Grimm Brothers, Don Chapman and Aaron Heaton, have been home brewers for quite some time and have won a number of awards for their home brew over the past several years. Due to their success of home brewing they decided to open up Grimm Brothers Brew House and Tap Room.

Aaron and Don particularly like German-style lagers and ales, so they named their brewery Grimm Brothers Brew house after the German source of folk and fairy tale collections. The name of each micro brew will refer to one of the 18th century tales. In their first week of business Grimm Brothers Brew house is proud to announce it has won the 2nd Annual Gnarly Barley’s People’s Choice Award for 2010.

If you stop by the tap room on any given afternoon you are sure to find a room full of happy beer consumers and both the owners behind the counter sharing their story of starting Grimm Brothers. They currently have five Brew’s on tap all of which are quite pleasing to the taste buds.

If you are looking for a great place to retire or just relocate have you considered Northern Colorado? Northern Colorado is the home of Loveland, Fort Collins, Windsor, Severance, Greeley, Berthod, Timnath, Laporte and Wellington.

The economy may be down in the United States, but Northern Colorado has seemed to escape the majority of the economic down turn. There are still several new home communities that are building excellent custom homes.

One unique feature of the New Home Developments in Northern Colorado is that they are very flexible. They will sell you a lot of your choice and also allow you to bring your own builder. They have a variety of types of homes to choose from including: single family homes, patio homes, town homes, and estate homes.

Some of the most popular new home developments are featured below.

The OverLook at Marina Loveland, CO

The Overlook at Marina is comprised of 41 estate lots that have mountain views to the west and lake views to the east. Overlooking the golf course this home area is perfect for the home owner looking for a quiet beautiful place to retreat.

Water Valley Windsor, CO

Water Valley holds the distinction of being Northern Colorado’s premier resort-style lake front/golf course development. Residents of Water Valley can enjoy breathtaking views of the Rocky Mountains while sailing or fishing on a lake outside of their back door. Where To Retire Magazine also ranked Water Valley as Colorado’s Best Master Planned Community in 2007.

Timnath Ranch Timnath, CO

The Preserve at Timnath Ranch has selected five builders to provide our neighborhood with homes that maintain high standards. Each of these builders has a wide selection of sites, plans and prices.

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If you are thinking about moving to Colorado check out these communities today.

Northern Colorado Real Esate Specialist

According to the Colorado Division of Housing Colorado the second quarter of 2010 marked the third consecutive quarter of declining foreclosure filings. New filings fell 15.7 percent in the second quarter compared to the same period in 2009. However, foreclosure sales rose 17.7 percent during the quarter, the report said.

New filings totaled 10,233 statewide during the second quarter compared to 12,135 in the same quarter of 2009. The report noted there were a total of 46,394 foreclosure filings in 2009, a state record. Through June of this year there have been 21,369 filings.

The report had good news for Weld and Larimer counties, which both showed significant drops in foreclosure filing activity during the quarter compared to the same period a year earlier. Weld recorded 685 filings this year compared to 894 in 2009, a 23.4 percent decline.

Larimer reported 403 second-quarter foreclosure filings compared to 500 in 2009, a 19.4 percent drop. Comparing the first six months of both years, Larimer reported a 17.2 percent decline in foreclosure filings and Weld recorded a 12.5 percent drop over 2009.

Boulder County reported the lowest foreclosure rate in the Denver metro area with one completed foreclosure per 777 households.

The report said the “sustained declines in new foreclosure filings totals likely indicate that households are finding ways to avoid entering the foreclosure process and that mortgage companies are initiating fewer foreclosures for a variety of reasons.”

The report added that “while foreclosure filings are presently in decline, a significant drop-off in foreclosure activity will rely on strength in the larger economy and on job creation.”

Fort Collins removes Fire Sprinkler Mandate

Thanks to the Fort Collins Board of Realtors’ effort to educate the Fort Collins City Council of the reasons why they should not mandate that every new single family home have a fire sprinkler system starting in 2013. The mandated systems are controversial because of the weighted vote by the suppression system manufacturers in Sept. ’09, the lack of data to warrant the high cost to new homes, and the current response time of Poudre Fire Authority.
Public hearings will be held in September for approval of the entire Code package, but FCBR’s government affairs director received a letter from Fort Collins City Manager, Darin Atteberry, stating that the suppression system would be removed from the code.

Being a member of the Fort Collins Board of Realtors and on the Government affairs committee I believe that this is in an important part of keeping Fort Collins an affordable place to live. During the Government AffairsCommittee meeting when this issue was discussed there were several questions that led to the decision to oppose the mandate.


Some of those questions included: How much would this mandate raise the cost of new homes? Does the existence sprinkler systems reduce the safety risk of a fire? How much additional time does a fire sprinkler system buy the fire department in preservation of the home and lives endangered?

The main concern was that there was insufficient data to answer these questions and that there was data to show a significant increase in the affordability of new homes.

In a down market there are many sellers out there looking to save a buck or two by selling their home on their own. Many seller’s think that if they just pay a small fee to put their home on the Multiple Listing Service they will be able to get an offer and sell their home for a lot less money than paying a real estate commission. Also in today’s market there are many seller’s that are upside down in their home and they will have to bring money to closing if the list it with a REALTOR. If you are a seller currently considering selling on your own I hope you will continue reading.

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I personally think that a seller that is selling “FSBO” for the purpose of saving money could end up actually spending more money in the process. Let me share with you how this can happen.

Typically, in a down market prices continue to fall, so if a homeowner puts their home on the market as a “FSBO” it usually doesn’t get the same exposure, showings, and traffic. Typically after several months they end up putting their home on the market with a REALTOR.

In a declining market the REALTOR is going to recommend that the seller price their home lower then what they were asking origionally, and they will have to pay the real estate commission on top of that. Therefore, it makes more sense to start our with your best foot forward from the first day. If you list your home with a REALTOR at market price and get it sold with in 30 days you will end up paying a percentage of that to the broker to get the home sold, but if the home sits for 90 days and you list it with a broker, and the market has gone down in the last 90 days you will most likely have to list it for less and still pay fees.

Next, if you don’t have enough equity in your home to list with a REALTOR, but you need to sell your home there are still ways to get it listed with a full service broker. I would recommend calling a local REALTOR and discussing different options with them, and they will certainly get creative and help you reach your goals.

Finally, here are some stats from the National Association of REALTORS. In 2008 FSBOs accounted for 13% of home sales in the US. The typical FSBO home sold for $153,000 compared to $211,000 for agent-assisted home sales. Furthermore, about 80-90% of FSBO’s end up getting listed with a REALTOR.

Leslie Leis

Fort Collins Home | Recreation & Entertainment | Education | Annual Events | Places to Eat | News

In 2006 Fort Collins was ranked the number one place to live by cnnmoney.com, but now in 2010 Fort Collins has been ranked #6th best city to live. What has caused the change? Those of us in Fort Collins are still very proud to be in the top 10 cities to live in.

6. Fort Collins, CO
Population: 141,000
Unemployment: 7.4%
Pluses: Outdoor activities, steady economy
Minus: School budget cuts

Bikers and beers. In most parts of the country, those two elements may be reasons to move to a different city. But in the foothills of Colorado’s Front Range, bikers mean cyclists: Fort Collins has 29 miles of well-used trails, and many work commuters. It isn’t out of the ordinary to see more bikers waiting at a stop light then it is cars.

As for beers, this town has become a high-end micro-brew mecca. That has made brewery tours a favorite pastime of many Fort Collins Residents and visitors. New Belgium Brewery (maker of Fat Tire) is based in this entrepreneurial town, and competitors are moving in.

People here aren’t lazy either. Bolstered by Colorado State University, which employs 7,000, “the Fort” as residents refer to this town is a center of economic activity. Hewlett-Packard, the city’s second-largest employer, announced worldwide layoffs in June, but they won’t affect Fort Collins. In fact, the company is adding jobs here.

This innovative town — No. 1 in 2006 — would rank even higher but for one thing. Colorado schools are making monetary adjustments. The state cut public schools’ budget this year. In the Fort Collins Poudre School District 139 full-time employees were laid off.

In 2006 Fort Collins was ranked the number one place to live by cnnmoney.com, but now in 2010 Fort Collins has been ranked #6th best city to live. What has caused the change? Those of us in Fort Collins are still very proud to be in the top 10 cities to live in.

6. Fort Collins, CO
Population: 141,000
Unemployment: 7.4%
Pluses: Outdoor activities, steady economy
Minus: School budget cuts

Bikers and beers. In most parts of the country, those two elements may be reasons to move to a different city. But in the foothills of Colorado’s Front Range, bikers mean cyclists: Fort Collins has 29 miles of well-used trails, and many work commuters. It isn’t out of the ordinary to see more bikers waiting at a stop light then it is cars.

As for beers, this town has become a high-end micro-brew mecca. That has made  brewery tours a favorite pastime of many Fort Collins Residents and visitors. New Belgium Brewery (maker of Fat Tire) is based in this entrepreneurial town, and competitors are moving in.

People here aren’t lazy either. Bolstered by Colorado State University, which employs 7,000, “the Fort” as residents refer to this town is a center of economic activity. Hewlett-Packard, the city’s second-largest employer, announced worldwide layoffs in June, but they won’t affect Fort Collins. In fact, the company is adding jobs here.

This innovative town — No. 1 in 2006 — would rank even higher but for one thing. Colorado schools are making monetary adjustments. The state cut public schools’ budget this year. In the Fort Collins Poudre School District 139 full-time employees were laid off.

Price Reduced $10,000 Complete Remodel. Beautiful ranch home near CSU, foothills and Down Town Fort Collins New kitchen counters, appliances, cabinets and floors. Refinished hardwood floors throughout, New roof, New paint inside and out. Complete bath remodel with jetted tub and tile surround. All new windows. This place is amazing. There is also a bonus room off the kitchen that can be for dining or an office. Great neighborhood perfect for a college rental or home owner. Won’t last!

Property Specifics:

Address: 705 Skyline
Price: $190,000
County: Larimer
Year Built: 1956
Bedrooms: 3
Bath: 1
Finished Square Feet: 1117
MLS: 632382
2009 Taxes: $1,220

School Info:

High School: Poudre
Middle: Lincoln
Elementary: Moore

Map

Leslie Leis

970-310-7093

leslie@leslieleis.com