Guaranteed to Please: Holiday Gift Ideas for the Home
Every holiday gift list has at least one person who is tough to shop for. Wavering between a risky guess at clothing that might not fit and just throwing in the towel and buying a gift card can be frustrating. But there’s one thing you can be sure of: everyone on your list probably loves to have their home looking stylish. If you’re hoping to score a big win with the pickiest of people of on your list, here are some of our favorite holiday gift ideas for the home.
Inviting Lanterns
Photo Credit: The White Company via Pinterest
Candles are a time-honored “safe” gift that usually deliver a positive response and are useful in any home. Take that one step further by gifting a stylish lantern to hold those candles. This gift is typically small, simple, and cost-effective, meaning that it’s pretty much the perfect gift idea for even the trickiest of people.
International Inspiration
Photo Credit: Uncommon Goods
Maps and globes instill a home with a sense of adventure, and never have there been more décor options for those struck with a bit of wanderlust. One option is an interactive scratch-off map that allows tracking of travel. If wall space is limited, consider a cork globe with push pins that can be used to mark travel destinations.
Sweet Displays
Photo Credit: Target via Pinterest
Everyone has a guilty sugary pleasure of some sort, so why not encourage those desserts to be showcased with pride? A dessert display isn’t necessarily something you’d buy for yourself, but it’s a gift that is almost guaranteed to please. Glass is classic, but marble or wood-based displays can blend easily into just about any kitchen design while adding a little extra touch of style.
Keep It Simple, Keep It Smart
Photo Credit: CNet.com
If all else fails, you can be assured that everyone on your list this holiday season loves music, podcasts, audiobooks, or some other audio form of media. Thanks to the increasing prevalence and affordability of smart speakers, giving a versatile, high-tech gift has never been easier. For under $30 you can now choose between several options, including the Amazon Echo Dot and Google Home Mini.
Colorado Real Estate Market Update
The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.
ECONOMIC OVERVIEW
What a difference a quarter makes! Following the massive job losses Colorado experienced starting in February—the state shed over 342,000 positions between February and April—the turnaround has been palpable. Through August, Colorado has recovered 178,000 of the jobs lost due to COVID-19, adding 107,500 jobs over the past three months, an increase of 4.2%. All regions saw a significant number of jobs returning. The most prominent was in the Denver metropolitan service area (MSA), where 78,800 jobs returned in the quarter.
Although employment in all markets is recovering, there is still a way to go to get back to pre-pandemic employment levels. The recovery in jobs has naturally led the unemployment rate to drop: the state is now at a respectable 6.7%, down from a peak of 12.2%. Regionally, all areas continue to see their unemployment rates contract. I would note that the Fort Collins and Boulder MSA unemployment rates are now below 6%. Cases of COVID-19 continue to rise, which is troubling, but rising rates have only slowed—not stopped—the economic recovery. Moreover, it has had no noticeable impact on the state’s housing market.
HOME SALES
- In the third quarter of 2020, 15,065 homes sold. This represents an increase of 20.4% over the third quarter of 2019, and a remarkable 52.7% increase over the second quarter of this year.
- Home sales rose in all markets other than El Paso compared to the second quarter of 2019. I believe sales are only limited by the number of homes on the market.
- Inventory levels remain remarkably low, with the average number of homes for sale down 44.5% from the same period in 2019. Listing activity was 17.8% lower than in the second quarter of 2020.
- Even given the relative lack of inventory, pending sales rose 17.8% from the second quarter, suggesting that closings for the final quarter of the year will be positive.
HOME PRICES
- After taking a pause in the second quarter, home prices rose significantly in the third quarter, with prices up 11.9% year-over-year to an average of $523,193. Prices were up 7.4% compared to the second quarter of this year.
- Interest rates have been dropping. Although I do not see there being room for them to drop much further, they are unlikely to rise significantly. This is allowing prices to rise at above-average rates.
- Year-over-year, prices rose across all markets covered by this report. El Paso, Clear Creek, and Gilpin counties saw significant price appreciation. All but four counties saw double-digit price gains.
- Affordability in many Colorado markets remains a concern, as prices are rising at a faster pace than mortgage rates have been dropping.
DAYS ON MARKET
- The average number of days it took to sell a home in the markets contained in this report dropped one day compared to the third quarter of 2019.
- The amount of time it took to sell a home dropped in nine counties, remained static in two, and rose in one compared to the third quarter of 2019.
- It took an average of 29 days to sell a home in the region.
- The Colorado housing market continues to demonstrate solid demand, and the short length of time it takes to sell a home suggests buyers are competing fiercely for available inventory.
CONCLUSIONS
This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.
Demand for housing is significant, and sales activity is only limited by the lack of available homes to buy. Prices are rising on the back of very competitive mortgage rates and a job market in recovery. I suggested in my second-quarter report that the area would experience a “brisk summer housing market” and my forecast was accurate. As such, I have moved the needle a little more in favor of home sellers.
ABOUT MATTHEW GARDNER
As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.
In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.
Find a New Home in Four Steps
Posted in Buying by Kenady Swan
Whether you’re a first-time homebuyer or a current owner looking for a bigger home, the ideas below will help you better navigate that all-important first step: Finding a property that you like (and can afford).
The search for a new home always starts out with a lot of excitement. But if you haven’t prepared, frustration can soon set in, especially in a competitive real estate market. The biggest mistake is jumping into a search unfocused, just hoping to “see what’s available.” Instead, we recommend you first take some time to work through the four steps below.
Step 1: Talk to your agent
Even if you’re just thinking about buying or selling a house, start by consulting your real estate agent. An agent can give you an up-to-the-minute summary of the current real estate market, as well as mortgage industry trends. They can also put you in touch with all the best resources and educate you about next steps, plus much more. If you are interested in finding an experienced agent in your in your area, we can connect you
here.
Step 2: Decide how much home you can afford
It may sound like a drag to start your home search with a boring financial review, but when all is said and done, you’ll be glad you did. With so few homes on the market now in many areas, and so many people competing to buy what is available, it’s far more efficient to focus your search on only the properties you can afford. A meeting or two with a reputable mortgage agent should tell you everything you need to know.
Step 3: Envision your future
Typically, it takes at least five years for a home purchase to start paying off financially, which means, the better your new home suits you, the longer you’ll most likely remain living there.
Will you be having children in the next five or six years? Where do you see your career heading? Are you interested in working from home, or making extra money by renting a portion of your home to others? Do you anticipate a relative coming to live with you? Share this information with your real estate agent, who can then help you evaluate school districts, work commutes, rental opportunities, and more as you search for homes together.
Step 4: Document your ideal home
When it comes to this step, be realistic. It’s easy to get carried away dreaming about all the home features you want. Try listing everything on a piece of paper, then choose the five “must-haves,” and the five “really-wants.”
For more tips, as well as advice geared specifically to your situation, connect with an experienced Windermere Real Estate agent by clicking here.