John DeWitt, Greeley Office
Thank you for visiting my website! I am ready to assist you with any of your real estate needs. My approach is customized for each client…..my solutions are never “one-size-fits-all”.
Please take some time to look at the information I’ve provided for you as well as view listings and market statistics. Then…give me a call or send me an email if you have any questions, if you need more information about purchasing a home, are ready to visit some homes or to schedule a free home selling consultation.
I look forward to working with you!!
In This Issue:
Will zero-energy homes change the future of real estate?
What's a zero-energy home, you might ask? According to this article
from RisMedia, the various classifications of zero-energy homes begin with homes that produce at least 90 percent of its energy needed on an annual basis. And why is this news now? Sure, we've all started to reduce our monthly energy costs by buying Energy Star rated appliances and replacing those old fluorescent light bulbs with energy-saving ones. But what if we all could eliminate our monthly energy bills? That's what this new concept home aims to prove. While it's still mostly predominant on the East & West coasts, as with any other new technology, over time the costs to build zero-energy homes will continue to decrease until the price point is more affordable for the common homeowner. Still, it's an interesting trend to pay attention to - especially if this is a future "haves & wants" on the typical home buyer's wish list.
Pros and cons of buying during the hottest real estate season
As with any other retail industry, real estate follows an annual trend with "hot" months - where a lot of activity happens, and other months that aren't so active. And as with any other retail industry, there are going to be some good and bad points that come along with shopping during these "hot" months. Think of the real estate hot season like the beginning of the new fashion season. At the beginning of the fashion season, there's all this flashy new apparel - with multiple colors and sizes to choose from - typically all at full price. But then at the end of the season, to clear out old inventory and make way for the next season's trends, stores will often have major sales to move their inventory. Sure, you can usually find pieces that are deeply discounted - but that's the key - IF you can find them - as much of the options will be picked over by this point. The same goes for real estate. The busy season in most markets starts to hit in the late spring/early summer months. This article
from Trulia highlights some of the pro's and con's of buying in the hot season months. Just as with other retail industries - certain factors may be more important than others (for example, having ample options to choose from versus buying at the lowest price possible), depending on your needs. It's a definite must read if you've been thinking about jumping into the buying game this hot summer season!
Northern Colorado Economic Snapshot
Units Listed - Single Family & Attached Dwelling
YTD* Units Sold - Single Family & Attached Dwelling
Source: Ires, LLC | Areas listed as represented by IRES-MLS defined areas | *YTD represents through the month of March
"Every strike brings me closer to the next home run." - Babe Ruth
If you are the typical buyer in this real estate market Babe’s observation is good advice to take to heart. Although making a full price offer could still result in a swing and a miss, an attitude that keeps you swinging will eventually bring you to your new home.
While there is no shortage of batters, um, buyers, in the marketplace, the first strike is that the inventory levels remain low. Low enough that while the buyers are taking their best swing at connecting with their dream home, there are still a lot striking out to higher bids, or all cash offers from investors.
Take your cue from Babe Ruth and don’t give up. Keep swinging because your next at bat may very well be the home run you’ve been hoping for.
Baseball is meant to be played with heart and hope. One never knows where the next hero will emerge from. Take the story of young Weston, originally shared in Country Magazine.
Never much of an athlete, Weston was nonetheless proud to don his Rangers team uniform each week and give his heart to playing baseball. A dreamer and bit of an artist, Weston would rather be a superhero than baseball player.
Then came the Saturday he became both. A boy’s dream played out in real life, a once in a lifetime experience. An experience like the legendary Babe Ruth…..
“He was third in the batting order, and the two players preceding him had struck out. ‘Please don’t let him make the third out’, we prayed silently.
Weston approached the plate with a confidence that we did not share. This pitcher had made mincemeat of our best hitters. Our boy’s chances seemed slim. The first pitch whizzed by. Strike one. The coach motioned him out of the box. They talked. Weston struck at the next one. No joy. Strike two. We were afraid to see the rest. Another ball whizzed by. Our boy had barely moved. Ball one. We released a sigh of relief.
“Way to watch.” “Good eye.”
The words were barely out of our mouths when another pitch came down hard. The crack was deafening, and the crowd rose to its feet as the ball sailed into the air. We were ecstatic. Weston had hit the ball! Our boy had hit the unhittable pitcher’s throw. Life was good at that moment. No matter what else happened, our boy could hold his head high.”
And so it is with the real estate market in Northern Colorado. The previous couple of months haven’t seen a lot of home runs. But March came up to the plate and in spite of a slow start, has ended strong. Of the 1,607 mixture of attached and detached homes available on the market for sale, 693 sold and closed, all in an average of 78 days.
We may be tired of hearing about and focusing on low inventory levels but that is what may be holding back those higher sale numbers we desire to see during the spring season. A healthy market is evidenced by growing median sale prices which are still seeing a rise year over year. The median price of $271,822 for attached and detached dwellings combined is a significant increase from last year’s median price of $237,320 for that same mix in this same time period.
Month over month the market continues to adjust according to supply and demand pressures, but as the great Babe Ruth observed, each adjustment, like each swing of the bat, brings us closer to a healthy, balanced marketplace.
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