Home Improvement • Housing Trends • August 18, 2020

How to Improve Your Curb Appeal

by Windermere Colorado

Curb Appeal

Image Source: Canva

When it comes time to sell your home, first impressions are crucial. Improving your curb appeal helps to make the most of a buyer’s first glance and sets the stage for their interest in purchasing your home. The following projects are simple and inexpensive ways to enhance both your home’s first impression and its value.

Landscaping

Lawn: A healthy, well-tended lawn goes a long way towards improving your curb appeal. Clean up all weeds, leaves and debris, and consistently water your lawn to give it that fresh green look. If you live in an arid climate, consider grass alternatives like artificial turf for the best lawn aesthetic.
Plant colorfully: Adding color variety to your front yard will grab buyers’ attention. Align smaller plants, like groundcover and flowers, neatly within your flower beds, aiming for symmetry when possible. Use larger plants and trees to frame in your entryway or walkup. If your front yard doesn’t have flower beds, try adding hanging planters or window boxes.
Lighting: Landscaping lighting boosts your curb appeal during nighttime, accentuates your shrubbery, and adds a welcoming touch for visitors as potential buyers, lighting the way to your door.

Flower Box

Image Source: Canva

Porch

Front porches set the stage for all your home has to offer. Improvements here will play a significant role in how comfortable potential buyers feel about the property and how inspired they are to explore the inside of the house.

Door: Your front door is an opportunity to make a tasteful statement. Look at bold color choices that are within or slightly stretch your home’s exterior color palette. Take time to prepare the surface for a fresh coat of paint to make the color pop as much as possible. Try stylish doorknob options that accentuate the aesthetic to give your door some added flair.
House numbers: New and stylish house numbers are an easy, eye-catching touch to the look of your porch. Look for styles that match with your exterior color palette and any exterior lighting fixtures.
Go for comfort: Incorporating classic front porch elements like a porch swing, sitting bench, and other outdoor furniture gives a welcoming aura to the front of your home and creates a sense of comfort for prospective buyers.
Shutters: Windows are the gateway to the inside of your home. Shutters of delicate fabric will bring elegance to your front porch, while wooden shutters deliver a solid, cozy vibe.

Other

These miscellaneous projects will add the finishing touches to your home’s curb appeal and get it in prime selling condition.

Quick maintenance: Small chores and minor fixes like cleaning gutters, repairing chipped paint, and cleaning windows are important for buyers with a detailed eye.
Staining: Instead of replacing fences or garage doors, look into applying a fresh stain. This brings a refreshed look and is much cheaper than a full renovation or replacement.
Power wash: Power washing your walkways and driveways makes a significant difference in curb appeal. If buying a power washer is outside your budget, explore rental options from the big-name hardware stores.

Colorado Real Estate Market Update

by Windermere Colorado

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

COVID-19 had significant negative impacts on employment in Colorado. The pandemic caused the loss of over 342,000 jobs in March and April as unemployment rose to 12.2%. For comparison, peak unemployment following the Great Recession was 8.9%. However, it appears as if the massive contraction in employment is behind us (at least for now). Employment in Colorado rose in May by 68,800 jobs, a monthly increase of 2.8%, pushing the unemployment rate down to 10.2%. Regionally, the Denver metro area added 18,600 jobs in May and the Fort Collins metro area added 3,500 jobs. It is certainly too early to say that we are out of the woods, but we seem to be headed in a positive direction. Colorado’s COVID-19 infection rates started increasing again in June, which could slow down the economic recovery. However, I do not believe that it is likely to have any substantial impact on the housing market.

HOME SALES

In the second quarter of 2020, 9,867 homes sold. This represents a drop of 20.7% compared to the second quarter of 2019, but sales were 7.4% higher than in the first quarter of this year.
Sales dropped across all markets compared to the second quarter of 2019. I do not find this concerning as the drop can be attributed to limited supply and COVID-19.
Inventory levels remain tight, with the average number of homes for sale in the quarter down 21.3% from the same period in 2019. However, listings were up an impressive 15.6% over the first quarter of 2020.
I was pleased to see total pending sales in the quarter increase 16.3% compared to the first quarter, suggesting closing data for the third quarter will be better than we are currently experiencing.

HOME PRICES

Home prices held steady compared to the second quarter of 2019 at an average of $480,831. Prices were up 0.7% compared to the first quarter of this year.
Interest rates remain at very low levels and will stay in the low 3% range for the balance of the year, if not longer. This can allow prices to pick back up.
Price growth across the region was varied. Seven counties saw price growth and five experienced a drop in average sale price. Clear Creek County again saw prices rise substantially. However, as you are likely aware, it is a very small market and subject to wild swings. Prices dropped most in the equally small Gilpin County.
I am still watching affordability in many Colorado markets and will take this temporary “pause” as a good thing.

DAYS ON MARKET

The average number of days it took to sell a home in the markets contained in this report dropped by only one day compared to the second quarter of 2019.
The amount of time it took to sell a home dropped in eight counties, remained static in one, and rose in three compared to the second quarter of 2019.
It took an average of 29 days to sell a home in the region.
The Colorado housing market is demonstrating solid demand, and listing activity is trending higher. I expect that the summer market will be brisk.

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 appears to be returning, which—combined with historically low interest rates—should lead to a brisk summer housing market. Assuming that the state gets new infection rates under control, I do not see why the housing market wouldn’t perform well this summer. As such, I have moved the needle just 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 • Economics 101 • Market News • Windermere Real Estate • July 6, 2020

Matthew Gardner Weekly COVID-19 Housing & Economic Update: 7/6/2020

by Windermere Colorado

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On this week’s episode of “Mondays with Matthew”, Matthew Gardner discusses what is needed to motivate more Millennials to buy and the important role they play in the long-term health of the US housing market.

Blog • Economics 101 • Market News • Windermere Real Estate • June 29, 2020

Matthew Gardner Weekly COVID-19 Housing & Economic Update: 6/29/2020

by Windermere Colorado

On this week’s episode of “Mondays with Matthew,” Matthew Gardner discusses housing affordability and how he believes that despite the impact of COVID-19, affordability issues will remain and may actually get worse as we move forward.

Blog • Home Owner • Living • June 24, 2020

Saving in the Laundry Room

by Windermere Colorado

When it comes to household expenses, staying at home has brought about savings in some areas, while increasing expenses in others. The laundry room has likely seen an uptick in usage, with its associated costs following suit. Save your energy and money by keeping these tips in mind as we continue to adapt to being home more often.

Master your machine settings

Review the owner’s manuals for your washer and dryer. There may very well be energy-saving settings you’re not using. For example, your washer’s “high-speed” or “extended wash” cycles will remove more moisture, which can help reduce drying time. A dryer’s “cool down cycle” allows clothes to finish drying using only residual heat.

Think twice before washing

Once you’re aware of the costs associated with washing and drying, and the natural resources this consumes, you may decide you don’t need to launder certain clothes as often – which can also extend the life of these garments. Some clothing, like jeans, sweatshirts, and sweatpants, can be worn a few times without a cleaning. Washing these items only when necessary will help you cut down. Another tip – keep another laundry basket in your room for those lightly worn clothes that you could wear again, so they keep separate from your clean clothes.

Use hot water only when necessary

Using warm water instead of hot can significantly cut down your washer’s energy expense. Using cold water puts less pressure on electricity grids, saving your household even more money and energy. Cold water washes are less likely to shrink or fade your clothing as well. To ensure your clothes still get clean, try using a cold-water detergent.

Right-size your loads

For both washing and drying, taking into consideration the size of your load can factor greatly into your savings. No matter the size of the load you wash, it costs the same amount to run a cycle. So instead of doing two small loads, wait until you have one large load. When drying, keep in mind that an overly full dryer will take longer to dry the clothes. A dryer with too few items inside costs more to operate.

Clean the dryer vent and filter

When the lint filter in your dryer gets clogged, airflow is reduced, and the dryer can’t operate effectively. Make a point to clean the filter after every use. If you use dryer sheets, scrub the filter every month to remove any film buildup. The venting that attaches to the back of your dryer also needs to be kept clean and clear.

Air dry

When the weather is sunny and warm, consider putting your clothes out to hang-dry. Doing so will keep your drying expenses to a minimum. It can also be a better drying method for clothing with delicate tailoring.

With staying at home being the new status quo, taking a look at the ways our homes use energy and incur expenses is more relevant than ever. These small changes in the laundry room are just some of the minor adjustments you can make in your household during these unique times.

Blog • Market News • June 22, 2020

Matthew Gardner Weekly COVID-19 Housing & Economic Update: 6/22/2020

by Windermere Colorado

In this week’s episode of “Mondays with Matthew,” Windermere Chief Economist, Matthew Gardner, dives into the high-frequency data sets that he uses to help determine where the US economy is at with emerging from the impacts of COVID-19. Hint: there’s progress, but we aren’t out of the woods yet.

For Buyers • Windermere Real Estate • June 10, 2020

Questions to Ask During Your Virtual Home Tour

by Windermere Colorado

Thanks to COVID-19, the new reality is that many open houses and home tours are being conducted virtually. For prospective home buyers, this new territory brings an added element to prepare for in the home buying process. Some of the questions that should be asked in a virtual home tour parallel those of in-person tours, but others are unique to today’s virtual world.

Could you zoom in?

Sometimes it can be difficult to get a true glimpse at what you want to see in a room. Asking the agent to zoom in on specific features is commonplace in virtual home tours, and they understand this is part of the viewer experience. Don’t hesitate to ask multiple times. Getting a better look at everything you want to see will help you feel like you’ve gotten the most out of your virtual tour.

How many square feet are in this room?

Virtual tours can slightly distort space, making it tough to gauge the size. The room-to-room square footage is information the agent is sure to have handy. Since you can’t be there in person, it will help you piece together the virtual visuals with the sense of physical space that we’re all accustomed to feeling in the places we live.

What color is that?

In the smartphone era, and computer era at large, we have come to understand that digital representations of color are not always true to the eye. Ask the agent to confirm specific colors so you can plan accordingly. Have a color swatch on hand or look the colors up online as you go through the tour.

When were the appliances last updated?

The importance of this question rings true in past, present, and future. Knowing the state of the home’s appliances, and the likelihood and timing of when they will need replacement, is vital information for both assessing the move-in readiness of the home and understanding what costs might lie ahead.

Has the seller provided an inspection?

This is another example of a critical question, whether your home tour is virtual or physical. If the seller has already done an inspection, ask the agent to lead you to any areas of concern based on the inspector’s findings. If there is anything that has not yet been addressed by the seller, have your agent ask what their plan is for making the necessary repairs/updates.

When is the offer review date?

Understanding the seller’s timeline for reviewing and accepting offers will help guide your decision-making process and allow you to strategize based on the timeline.

Whether your home tour is physical or virtual, getting the information you need to make an informed decision remains paramount. Although there is no substitute for physically being in the home you are looking to buy, keeping these questions in mind will position you well as you progress through the home buying journey.

Blog • Market News • Windermere Real Estate • June 1, 2020

Matthew Gardner Weekly COVID-19 Housing & Economic Update: 6/1/2020

by Windermere Colorado

This week on “Mondays with Matthew”: Now that things have settled down somewhat following the initial impact of COVID-19, Matthew dives into the topic of mortgage rates. Will they go below 3%? Matthew discusses this and the factors that have formed his updated 2020 and 2021 mortgage rate forecast.

Economics 101 • Market News • Windermere Real Estate • May 28, 2020

Matthew Gardner Weekly COVID-19 Housing & Economic Update: 5/18/2020

by Windermere Colorado

In this week’s episode of Mondays with Matthew, Windermere Chief Economist Matthew Gardner kicks off a series of episodes in which he answers questions from his followers. The first deals with how COVID-19 will impact buyer behaviors, especially in more urban markets.

community • Windermere Foundation • May 18, 2020

Neighbors in Need Raises $690,000 for Food Banks

by Windermere Colorado

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The COVID-19 pandemic has affected populations across the globe, but those who struggle with poverty and count on food programs to meet their basic day-to-day needs are in an especially uncertain place. While coping with increased demand and a bottlenecked pipeline of food supply, food banks are desperate for funds to continue to serve their communities. Because of this, Windermere decided to challenge its offices to raise $250,000, every dollar of which would be matched by the Windermere Foundation and donated to food banks in the areas where Windermere operates. We titled it the “Neighbors in Need” fundraising campaign.

Neighbors in Need kicked off on April 21, with the goal of raising $250,000 by May 5. As word continued to spread, online donations and contributions from both our agents and the public began to increase. Neighbors in Need was given a boost by Seattle Seahawks starting safety Quandre Diggs in a heartfelt message encouraging support. Over the final 24 hours, leading up to the May 5 deadline, support poured in from across the Windermere family as the final figure exceeded the initial goal of $500,000, landing at a total of $690,000.

Neighbors in Need exemplifies Windermere’s deep commitment to supporting our local communities, which traces back to 1989 when the Windermere Foundation first started. Since then, we’ve proudly raised more than $41 million for low-income and homeless families throughout the Western U.S.

On behalf of the Windermere Foundation to all those who joined the effort: Thank you. We could not have made this large of an impact without your help. We are humbled to be able to do our part to help those who need it most during these uncertain times.