Blog • Home Owner • November 12, 2020

Home Security for the Holidays

by Windermere Colorado

The holiday season can bring joy and peace, but it can also bring package thieves and burglary. Stay safe this winter by taking a few precautions with your home security. From old-school security tricks to new digital home monitoring tools, there are many options when it comes to keeping our homes safe and preserving that sensibility.

Upgrade your locks:

A poorly installed deadbolt can make it easy for an intruder to kick in your door. Start by making sure that your door frames are in good condition and then look into getting a higher quality deadbolt. You’ll find everything from classic models with keys, or digital options that require passcodes or a fingerprint.

It’s also a good idea to check all the locks on your windows. Some older models are easy to jimmy open with a little wiggling. For ground floor windows, you may want to consider double locks. It goes without saying, leaving windows open during the summer is a bad idea – especially those that can be easily accessed.

Exterior and interior home lighting:

Having your exterior lights on timers or motion sensors is a good way to deter nighttime snoopers. Add sensor lights to key entry points on your home, including the front door, back door, and/or basement entries. If you have an unused side yard, consider lighting there too. Keeping your home lit makes unwanted visitors weary of being seen.

If you will be gone from your home for an extended period, consider using timed lighting options in your home to make it appear someone is around. You can select timers for bedrooms or living areas. Also, you can program a radio to turn on and off for sound.

Alarm systems:

If you are considering an alarm, you have an array of options that vary from self-install motion detection kits to full-service home security systems. If you choose to do-it-yourself, you will want to install motion detectors on doors and windows – especially those that can be easily accessed on the ground floor. In most cases, these kits also offer a 24-hour call service for an extra fee.

Full-service security systems can include everything from an alarm system and panic buttons to and integration with your smoke detectors/ fire prevention system. These services are expensive up front but usually have a reasonable monthly rate. And keep in mind, having a home security system installed can also reduce your insurance rates.

If installing an alarm system is cost-prohibitive or does not fit your lifestyle, consider purchasing stickers and a sign that state that your home is monitored by a trusted security system, and place them so they are visible at every entrance.

Security cameras:

Security cameras are readily available for home installation. You can install these in prominently viewed places to deter burglars. There are do-it-yourself install options and professional systems that come along with monitoring services. There are even options that will work with your smartphone.

If the cost of security cameras is too steep for your budget, you can purchase fake cameras to act as a visible deterrent for intruders.

Build your community:

Programs like Neighborhood Watch are very successful in some communities, by creating an environment where everyone is looking out for each other. Building close-knit relationships with your neighbors can go a long way in making you feel safe at home. Whether this is through a formalized program, or a shared agreement with your community, developing relationships with your neighbors is a great way to keep your home safe.

Blog • For Buyers • VA Loans • November 11, 2020

A Guide to VA Loans

by Windermere Colorado

Military

Image source: Shutterstock

VA loans provide a path toward homeownership for active service and veteran personnel and their families. The following serves as a guide to understanding what they are, who they are available to, and what types of loans are available to them.

VA loans can be confusing, so talk with your Windermere agent as you prepare to discuss your options with your lender. “Even people in the military have misconceptions about (VA loans),” said Windermere agent and Veteran Gervon Simon in a recent episode of our “Ask An Agent” series.

What are VA Loans?

The VA loan program was established by the United States Department of Veterans Affairs (VA) to help active service members, veterans, and surviving spouses become homeowners. VA loans are backed by the federal government yet provided by private lenders such as banks and mortgage companies. VA loans can be used to buy, build, or improve a home, or to refinance a current home loan.

How do VA Loans work?

VA loans have appealing characteristics for homeowners including lower-than-average mortgage rates, zero down payment on the purchase price, no-prepayment penalties, limited closing costs, and no Private Mortgage Insurance (PMI). They are typically easier to qualify for than standard home loans. With VA-backed loans, they guarantee a portion of the loan from a private lender. This means less risk for the lender, often resulting in more favorable terms for the homeowner. You do not have to be a first-time homebuyer to receive a VA loan. VA loan limits vary by county, so be sure to work with your Windermere agent to determine the limit in your area.

Which loans are available?

Purchase Loan

VA-backed purchase loans may be used to buy a single-family home, condo, manufactured home, or land. They also may be used to make energy-efficient changes to your home. Additionally, you can use a purchase loan to build a new home.
They offer no down payment, as long as the home’s sales price does not exceed its appraised value.
There is no need for PMI or mortgage insurance premiums (MIP).

Native American Direct Loan (NADL)

For Veterans who are either Native American or have a Native American spouse, the NADL can help to buy, build, or improve a home on federal trust land.
Beyond basic requirements of eligibility and credit standards, to be considered for the loan your tribal government must have an agreement—or Memorandum of Understanding (MOU)—with the VA. For more information on MOUs, visit this page: MOU Info

Interest Rate Reduction Refinance Loan (IRRRL)

The IRRRL is a refinancing tool for those with VA-backed home loans that are looking to reduce their monthly mortgage payments.
The IRRRL replaces a current loan, giving homeowners the ability to stabilize their repayment plans.
A VA funding fee may be required. Loan interest and closing fees will be charged by your lender but including these costs in your IRRRL will help you avoid paying the costs upfront.

Cash-out refinance loan:

The cash-out refinance loan allows homeowners to take cash out of their home equity or refinance a non-VA loan into a VA-backed loan.
In addition to your Certificate of Eligibility (COE), you’ll need to provide additional federal income tax information to your lender.
A home appraisal will be ordered by your lender. Similar to an IRRRL, a VA funding fee may be charged at closing. Follow their closing process and pay all closing costs.

For more information on the different types of VA Loans, eligibility, and more, visit the Veterans Affairs website here: VA Loans

Blog • Home Owner • Living • November 6, 2020

Prepare Your Home for Winter

by Windermere Colorado

Winterize

As the days shorten, you can mitigate many mid-winter headaches with some preemptive prep. Proper weatherizing can help protect your home from preventable damage, save money on energy costs, and, most importantly, keep you and your loved ones safe and warm throughout the winter season. Here is a useful checklist to manage your weatherization project. Setting aside some time on a couple of weekend days should be more than enough to knock this out:

Cracks & Leaks

Examine your entire house for any cracks and leaks, from your roof to your baseboards, to your basement and foundation. With unpredictable winter weather, these cracks and leaks are how the outside gets in, causing cold drafts and water damage.

Luckily, most cracks don’t require a professional to handle it. Depending on your house type and age, it’s likely you’ll be able to do it yourself with supplies from your local hardware store.

Windows & Doors:

Gaps and breaks in windows and doors is another way to let the winter in your home, and they can let heat escape, raising your heat bill throughout the season.

Make sure seals are tight and no leaks exist. If you have storm windows, make sure you put them on before the cold season begins. Additionally, add weather-strips and or a door sweep to prevent drafts and keep the heat in.

Rain Gutters:

Clean your rain gutters of any debris. In colder climates, the buildup will cause gutters to freeze with ice, crack and then leak.

Once you have removed the residue from the drains, test them by running hose water to make sure cracks and leaks have not already formed. Even in warmer locales, the buildup can put undue stress on your roof and home.

Pipes:

Protecting your pipes from freezing should be your number one priority this winter. A burst pipe can quickly become a disaster in any home.

Remember to turn off your exterior water source and take in your hose. Internally, wrapping your pipes is a recommended precaution to take.

Heating System:

Annual checks are vital in avoiding dangers such as house fires. Replace filters if you use a furnace and clear out any vents and ducts that carry heat through them. If you have baseboard heat, wipe them of dust and remove any debris that might catch fire.

Fireplace & Wood Burning Stoves:

Make sure to have chimneys and air vents cleaned early in the season if you are planning on warming your home with a wood-burning source. When your fireplace is not in use make sure to close the damper, some resources estimate an open damper can increase energy consumption by as much as 30%, increasing your bill about $200.

Outside:

Bring your patio furniture inside or cover it for the winter. Don’t forget other, smaller items such as your tools, including the hose and planting pots. Clear out any piles around the side of your house, checking for cracks and holes in your home and foundation as you go so to avoid providing shelter for unwelcome guests over the cold season.

If your property has large trees check for loose branches and call someone to trim back any limbs that may fall in your yard, on your roof or even damage a window.

Emergency Kit:

Lastly, make sure your emergency kit is up to date with provisions, batteries, fresh water, food for animals, entertainment for kids – especially if you live in an area prone to power outages.

For a more complete emergency preparedness guide, visit https://www.ready.gov/winter-weather .

Blog • Colorado Real Estate Market Update • Economics 101 • Market News • October 28, 2020

Colorado Real Estate Market Update

by Windermere Colorado

Housing Market

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.

Blog • For Buyers • Home Owner • October 27, 2020

Buyer Beware: Is That House For Sale Haunted?

by Windermere Colorado

Haunted House

Image Source: Canva

A trope as old as horror movies: a family moves into a beautiful house that they bought for well under market value. They’ve put all their savings into the move, and they’re looking for a fresh start. When they meet the neighbors and other townsfolk, they quickly learn that there’s a history to the home that they weren’t aware of.

When they start to experience the abnormal, it’s easy to brush off as new home jitters. The children who hear noises in the closet, and a husband who starts sleepwalking, are chalked up to stress and anxiety from the move. It’s only when the experiences escalate beyond control that the family finally realizes the extent of the haunting.

While sharing a home with the supernatural can be a selling point for some buyers, it’s quite the opposite for others. In fact, a 2017 survey by Realtor.com found that 33% of people were open to living in a haunted house, 25% would consider it, but 42% said it was a deal-breaker. So how do you make sure you’re fully informed about a home’s history? Knowing the right questions to ask is the first step:

Ask to see the seller disclosure form

In the famous 1991 case Stambovsky v. Ackley, the new homeowner, Jeffrey Stambovsky, won a lawsuit against the previous owner for not disclosing the history of hauntings.

In this case, the previous owner had published stories about the family’s experiences in Reader’s Digest and their local newspaper. In her writings, she explained several interactions with ghostly beings in the home, including finding that her children had been given rings, which would later disappear, bed shaking, and conversations with the floating specters.

The court took this evidence and ruled the “defendant is estopped to deny [the ghost’s] existence and, as a matter of law, the house is haunted.” Setting a new standard, this case created a basis for future seller disclosers. In this instance, they found that the history of the home, and the seller’s experiences in the home, would have influenced the marketability, and therefore, omitting these facts was unfair to the buyer.

Fast forward to 2019, there is not a specific section on seller disclosure forms for hauntings or ghostly sightings, but thanks to Stambovsky v. Ackley, sellers in many states are obligated by law to disclose things that affect a house’s marketability.

Ask Google about the history of the home

In 1991 when Mr. Stambovsky bought his haunted house, search engines didn’t exist. Today, we’re lucky enough to have things like Google which would have found the previous home owner’s stories in mere seconds. Search keywords like the address or town name, and words like “haunted” or “ghosts”, as well as “murder” or “news report” should help you start your dive into the history of the home.

Ask the neighbors and your agent

This is where nosey neighbors come in handy. When you find a place you’re serious about, contact the neighbors to see what they know about the home’s history. The same goes for your real estate agent; he or she can reach out to the listing agent to see if there is anything haunting you should know about prior to buying. While many states don’t require sellers to disclose paranormal activity or deaths in the home, if asked, all real estate agents must, by law, answer truthfully.

Blog • For Buyers • Living • October 21, 2020

The Remote Worker’s Home Buying Process

by Windermere Colorado

Home Office

Image Source: Getty Images

The pandemic’s influences on home life are far-ranging, prompting buyers to look at homeownership through a new lens. Remote work has created a paradigm shift in the wants and needs of homebuyers. Here’s what the remote worker should keep in mind when looking to buy.

Location

The location, location, location cliché has taken on new meaning for homebuyers who work from home. Because remote work gives us the opportunity to work from anywhere, home searches are expanding. Work commute times typically play a significant role in the home buying process; however, many buyers now have the option to view homes further away from their places of work.

Those who previously dreamed of the quiet life, but didn’t want the commute that came with it, are now able to make a move toward a more suburban environment. If you prefer to be away from the hustle and bustle of a downtown area but don’t want to feel isolated, search for properties in the suburbs with active town centers.

The proper space

When COVID-19 began sending workers home in the early months of 2020, homeowners worldwide discovered their varied level of preparedness for remote work. Some had spacious home offices and were able to make the transition easily. Others had to create makeshift workspaces out of living rooms or bedrooms. What we have learned is that a dedicated workspace is paramount to productive remote work, its importance emphasized by the unknown timeline of a return to working in-person in many parts of the country.

Before you buy:

When searching for homes, understand that a home office situated in an open floor plan is more prone to distraction.
Look for features such as an additional bedroom, finished basement, or bonus room that offer ample space to create your remote work environment.
Having a designated space you can associate solely with work will not only drive your focus but helps to balance your home and work life. It allows you to wrap up the workday, leave your home office, and easily transition back into the goings-on of your household.

After you buy:

Light it up: You’ll want plenty of light in your home office to stay fresh throughout the workweek. If you are next to a window, let in as much natural light as possible. Add in desk and floor lamps to brighten your space.
Work comfortably: While working at home, it’s easy to sit in one place for hours on end. Shop for comfortable desk chairs that provide proper lumbar support. Explore alternatives to desk chairs like yoga balls and standing desks.
Personalize: Adding personal touches will help to make your home office feel comfortable. Inspirational quotes, your favorite artwork, and pictures of loved ones are all types of décor that will keep you inspired in your remote work.

For all these considerations and more, talk with your Windermere agent about how your remote work is shifting where you’re looking for a home and what you’re looking for when it’s time to move there.

Blog • Home Improvement • Living • October 14, 2020

Protecting Your Home’s Air Quality

by Windermere Colorado

Image Source: Canva

Most of us tend to think of air pollution as something that occurs outdoors where car exhaust and factory fumes proliferate, but there’s such a thing as indoor air pollution, too. Since the 1950s, the number of synthetic chemicals used in home products have increased drastically, while homes have become much tighter and better insulated. As a result, the EPA estimates that Americans, on average, spend approximately 90 percent of their time indoors, where the concentrations of some pollutants are often two to five times higher than typical outdoor concentrations.

Luckily, there are many ways to reduce indoor air pollution. We all know that buying organic and natural home materials and cleaning supplies can improve the air quality in our homes, but there are several other measures you can take as well.

How pollutants get into our homes

Potentially toxic ingredients are found in many materials throughout the home, and they leach out into the air as Volatile Organic Compounds, or VOCs. If you open a can of paint, you can probably smell those VOCs. Mold is a VOC that can build up in the dampest parts of your home like the laundry room or crawl spaces. Another example is the “new car smell” that seems to dissipate after a while, but VOCs can “off-gas” for a long time, even after a noticeable smell is gone.

Many materials used to build a home contain chemicals like formaldehyde, toluene, xylene, ethanol, and acetone, and even lead. VOCs can also be in the form of pet dander or dust. Fortunately, VOCs from building materials dissipate over time. For that reason, the highest levels of VOCs are usually found in new homes or remodels. If you are concerned about VOCs, there are several products you can buy that are either low- or no-VOC. You can also have your home professionally tested.

How to reduce VOCs in your home

Choose your building materials wisely

– Use tile or solid wood for flooring—hardwood, bamboo, or cork
– Choose solid wood or outdoor-quality plywood that uses a less toxic form of formaldehyde.
– Choose low-VOC or VOC-free paints and finishes

Purify the air

– Make sure your rooms have adequate ventilation, air out newly renovated areas for at least a week
– Clean ductwork and furnace filters regularly
– Install air cleaners if needed
– Use only environmentally responsible cleaning chemicals
– Plants are a natural solution to help clean the air
– Air out freshly dry-cleaned clothes or choose a “green” cleaner

Pick the right carpet

– Choose “Green Label” carpeting or a natural fiber such as wool or sisal
– Use nails instead of glue to secure carpet
– Install carpet LAST after completing painting projects or wall coverings
– Air out newly carpeted areas before using
– Use a HEPA vacuum or a central vac system that vents outdoors

Prevent mold

– Clean up water leaks fast
– Keep humidity below 60 percent, using dehumidifiers if necessary
– Refrain from carpeting rooms that stay damp
– Insulate pipes, crawl spaces, and windows to eliminate condensation
– Use one-half cup of bleach per gallon of water to kill mold in its early stages

If you would like to learn more about VOCs and indoor air quality, please visit http://www.epa.gov/iaq/.

Blog • community • Windermere Real Estate • October 7, 2020

Our Commitment to Change: A Message to Our Community

by Windermere Colorado

content_1._Commitment_to_Change_-_Open_Letter_Oct_2020.png

For nearly 50 years Windermere has been deeply rooted in the communities where we do business. However, the resurgence of the Black Lives Matter movement has made us realize that our roots don’t extend as deep as we thought. It also made us realize that over the decades, the real estate industry has played a significant role in exacerbating systemic racism through redlining and steering, which has prevented many members of historically marginalized communities from building wealth through homeownership.

This summer, we began a robust diversity, equity, and inclusion journey supported by an organization called Moving Beyond that specializes in helping companies integrate and operationalize DEI. Next, we formed two internal workgroups, with a diverse makeup of Windermere franchise owners, managers, agents, and staff to guide and implement DEI efforts across our 10-state organization.

Following three months of collective conversations, we have identified several short- and long-term initiatives on which to focus – all with the aim of building a diverse organization that fosters a sense of belonging and provides equal opportunity across all aspects of homeownership for people of color. Some of these activities can be acted upon right away, as we develop a long-term strategic direction for our DEI efforts.

We’re committed and in it for the long haul, and believe transparency is a critical part of this journey, so here is an update about our goals and progress thus far:

● In August, we conducted an internal survey among our owners, managers, and staff, to create a benchmark of where we are as a company and help guide the direction that we need to take to advance our DEI initiatives. An agent survey is forthcoming in 2021.

● We are producing informational content related to CC&Rs to educate homeowners on how to remove racially restrictive language from their title reports in the 10 states where Windermere operates.

● We are working with an advertising agency that specializes in inclusive and future-forward marketing to evaluate our digital marketing products through a DEI lens.

● We have designated funds for a scholarship program that invests in people of color who want to work in real estate, and are designing training and mentoring programs to aid in their success.

● We are building internal DEI training and development programs, starting with franchise owners, managers, and staff, with plans to expand to agents in 2021.

● We are analyzing our hiring processes to ensure broader representation by people of color.

● We’re generating insights from all these efforts to help us develop a set of thematic pillars to guide our DEI goals and strategy over the long term.

● We’re planning on listening sessions this fall for the Windermere community to continue to have input in this process.

This is just the beginning of what we know will be a long-term journey of awareness and accountability. We are focused and determined to do our part to address discrimination, racism, and inequity within Windermere and the real estate industry. Our efforts stem from the recognition that there is a long history of housing discrimination in the United States and that the inequality in homeownership has deepened the racial divide. Through our work, we hope to play a role in finding ways to correct these inequalities. We realize we were late to this movement and should’ve spoken up sooner, but our eyes are open, and we are committed to leading the way towards positive change from here on out.

Blog • community • Living • Windermere Real Estate • October 3, 2020

Windermere is Now on Spotify!

by Windermere Colorado

Spotify

Americans spend about 32 hours a week listening to music, and for Millennials that number is even higher. Since so many activities connected to our homes are enhanced by music, we want to fuel the joy and memories of those experiences through home-inspired playlists on our very own Spotify channel.

Check out Windermere’s new Spotify channel where you can find playlists for every aspect of what it means to be home. Cleaning house? Check. Hosting a dinner party? Check. Chilling on the front porch? We have tunes for that too, and more. We invite you to follow, share, and enjoy!

Start following the Windermere Spotify channel today!

Blog • Housing Trends • Market News • Windermere Real Estate • September 30, 2020

Economic Update with Matthew Gardner

by Windermere Colorado

Event Invitation

Exclusive Invitation!!!

Tune in on Tuesday, October 6, 2020 at 9:00am to meet with Matthew Gardner, Windermere Real Estate’s Chief Economist LIVE and get your chance to ask him questions. He’ll be discussing the housing market, employment and the effects of COVID-19 on the local and national economy.

As one of the only real estate companies in the US that has a Chief Economist on staff, we have exclusive insights into the housing market, economy and government happenings. This is a one of a kind event for clients and friends of Windermere Real Estate in Colorado.

To sign up, please contact your Windermere Agent or message us to get the link. Seating is limited in digital meeting room so get your seat!

(If you can’t attend live, you can register to automatically get the recording.)