New Neighborhoods – October 2017

This month, we have a handful of new neighborhoods hitting the market in Northern Colorado:

The Park Townhomes at Fossil Ridge, Fort Collins, Colorado

Ridge at Mariana Butte, Loveland, Colorado

Overlook at Severance, Severance, Colorado

Take a look at our entire map of new construction options and contact us to check for more information, pricing and availability as it changes week to week!

New Construction Homes in Berthoud, Colorado

New Construction Homes in Fort Collins, Colorado

New Construction Homes in Greeley, Colorado

New Construction Homes in Johnstown, Colorado

New Construction Homes in Loveland, Colorado

New Construction Homes in Severance, Colorado

New Construction Homes in Timnath, Colorado

New Construction Homes in Wellington, Colorado

New Construction Homes in Windsor, Colorado

Posted in Buyers, Developments, Listings, New Construction, Sellers Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Still Building in Timnath Ranch

Good news for new home buyers!  They’re still building in Timnath Ranch.  Richmond American, CB Signature, William Lyons and of course, DR Horton all have a big presence in the neighborhood.

Head over to Ascent Real Estate Professionals blog to read all about everything happening at Timnath Ranch.

image2 (7) image1 (19) image3 (3) image4 (3)

Posted in Buyers, Listings, New Construction, Sellers Tagged with: , , , , , , , , , , , ,

New Neighborhoods – September 2017

This month, we have a handful of new neighborhoods hitting the market in Northern Colorado:

The Ridge at Harmony Road – Timnath, Colorado

Promontory – Greeley, Colorado

Take a look at our entire map of new construction options and contact us to check for more information, pricing and availability as it changes week to week!

New Construction Homes in Berthoud, Colorado

New Construction Homes in Fort Collins, Colorado

New Construction Homes in Greeley, Colorado

New Construction Homes in Johnstown, Colorado

New Construction Homes in Loveland, Colorado

New Construction Homes in Severance, Colorado

New Construction Homes in Timnath, Colorado

New Construction Homes in Wellington, Colorado

New Construction Homes in Windsor, Colorado

Posted in Buyers, Developments Tagged with: , , , , , , , , , , , , , , , ,

Northern Colorado Home Sales

Northern Colorado home sales in the NOCO HBA area of Larimer and Weld Counties are on a record setting pace. To the end of November sales totaled 11,480 homes which is a 6.4% increase over last year and the average selling price is up 7.7% to $271,427.

Table
The activity in Weld County is leading the way, accounting for almost half of the sales and virtually all of the increase in number of homes sold. Prices are up in all areas with the average price in Larimer County about 20% higher than Weld County. The BIG NEWS is where we expect to be by the end of the year. With one month to go sales should total around 12,400 homes with a total volume of $3.38 billion. This would be the highest number of homes ever sold in a one year period and the first time sales have topped $3.0 billion.

OLYMPUS DIGITAL CAMERANew construction is even more impressive. 2014 sales should total 3,500 homes with a total value of $1.035 billion. This is the first time sales have reached the 3,500 level (the previous record was way back in 2006 with 3,373) and the first time sales have gone over $1.0 billion (the previous record was 2013 with $837 million).

More importantly the share of sales of new homes are getting back to pre-recession levels. In the five year period from 2003 to 2007 there were 15,195 new homes sold (over 3,000 per year) representing 29.3% of the total market. In the next five year period from 2008 to 2012 there were just 10,808 new homes sold (just over 2,000 per year) representing 24.3% of the market. For the two year period of 2013 – 2014 new home sales should total 6,500 for an average of 3,250 per year and a 27% share and the 2014 share will be over 28%.

It should be noted that these figures are for homes sold through IRES, the local multi-list service. We recognize that there are a number of builders, both production and custom, whose sales are not recorded through the MLS; just as there are a number of resale homes sold directly by owner (FSBO). In any event, we expect the trend is similar and new home sales have made a nice recovery from a high of 3,373 in 2006 to a low of 1,932 in 2010 and back to 3,500 this year.

The inventory of homes for sale is still very tight with 1,712 active listings against a forecasted demand of 5,500 homes over the next six months. The current inventory is less than a two month supply, well short of the six months normally required for a balanced market. Obviously most resale homes do not help fill the demand because many are simply the same owner selling a home and buying another. New home construction is the only way to create more homes and we need a lot more of them!

This information is presented by Dave Pettigrew & Jared Reimer, partners and real estate brokers with Ascent Real Estate Professional. They can be reached at: Dave 970.282.9305 FCRealtor@msn.com and Jared 970.222.1049 Jared@AscentREProfessional.com or contact them here.

 

Posted in 2014, Advice, Advice, Buyers, Market Reports, New Construction, Sellers Tagged with: , , , , , , , , , , , , ,

2013 Northern Colorado Parade of Homes Update

paradeThe 2013 NoCo Parade of Homes has begins September 20th!  Organized and presented by the newly rebranded NoCo Homebuilders Association, we’ve presenting 30 homes, representing 20 Northern Colorado homebuilders.  The NoCo New Home Team is still heavily involved in coordinating the parade of home’s rebirth, with Dave Pettigrew chairing the Parade Committee.  Jared Reimer is in charge of inspections, judging and awards.  We have been working hard to bring you a successful event and hope you’ll enjoy all the homes.

Click HERE for a Digital Version of the Official Parade Magazine

What You Need To Know

When are the Homes Available?

View homes from 10am – 5pm; September 20th-22nd and September 27th-29th – TWO FULL WEEKENDS! Please note: 8425 County Road 13, Fort Collins, 217 S. Sherwood, Fort Collins and 301 N. Whitcomb, Fort Collins are only available the last weekend as indicated in the parade magazine.

Can I vote for my favorite home? What do I win?

Yes, you can certainly vote for your favorite home on tour.  Ballots will be available within the parade magazine, online through the digital version of the magazine, or in the homes themselves.  Circle the home that you feel is “best in show”.  For those parade goers that see 20 homes and vote for best in show, we will be holding a drawing to win a fabulous gift basket!

Below is a map of homes participating in the 2013 Northern Colorado Parade of Homes.  As you can see, the Parade stretches from Dacono to North Fort Collins, West Loveland to Greeley and everywhere in between.  This truly is a regional event showcasing our talented home builders.

Click HERE for a Detailed Map of Each Home in Every Community


View Parade of Homes in a larger map

NoCo HBA LogoThis is the first Northern Colorado Parade of Homes since 2008 and is further evidence of the rebound in new home construction in the region. It is also a testament to the involvement and dedication of the NoCo New Home Team in the new construction industry.

Full Calendar of Events:

September 20th-22nd and 27th-29th – 2013 Northern Colorado Parade of Homes

For two full weekends the Parade homes will be open to the public from 10am to 5pm.  The public has an opportunity to win prizes while voting for the “People’s Choice” award.  Information including maps, builder information, floor plans and much, much more will be available in the Parade of Homes magazine.

chairs

The NoCo New Home Team is committed to bringing you useful information, timely advice and expert service whenever you need it.  Whether it’s Fort Collins, Loveland, Windsor, Greeley or anywhere in between, we’ve got Northern Colorado covered.  Feel free to contact the NoCo New Home Team or subscribe to our newsletters and market reports.  We’re always taking and responding to your questions and inquires!

Posted in Agents, Buyers, Developments, Events, Home Improvement, Lifestyle, Market Reports, New Construction, Sellers Tagged with: , , , , , , , , , , , ,

Rising Costs in New Home Construction

OLYMPUS DIGITAL CAMERAIn an article published earlier this month by the Denver Post, writer Aldo Svaldi hit the nail on the head by outlining the reasons residential homes are taking longer to build and are ultimately going to be more expensive for a variety of reasons.  New home buyers are already having to wait between 6-8 months to move into their finished home, and with rising interest rates, this can really affect their monthly payments.  While the waits times are just part of the process, the rise in new home prices are anything but easy to swallow.  You would think that rising new home prices are a result of builders jumping on the demand bandwagon and raising prices to get greedy – it’s just the opposite.  Rising costs in new home construction is rising simply to cover increasing builder expenses.

Lack of Available Lots – Prices of Lots Rising

Prices of lots are rising due to lack of supply.  In the Denver metro area and along the Northern Colorado coridoor, regional and local builders are seeing major and national homebuilders swallow up large tracts of land for development, leaving few lots for the ‘little guys’ to build on.  With high demand comes rising prices – across the board.

Lack of Specialty Tradesmen – Delays in Construction

One of the major reasons for longer wait times and rising costs in new home construction is the absence of qualified, specialty tradesmen like electricians, plumbers, framers, and drywallers.  After the recession, many major tradesmen left the business or retired.  Learning a trade requires several years of experience and there haven’t been enough young tradesmen to learn the practice and replace those who were forced out of business.  Of the remaining tradesmen, they are stretched thin, working on several jobs at the same time, and charging a premium for the work they do.

Lack of Available Workers

OLYMPUS DIGITAL CAMERAAkin to lacking specialty tradesmen, the availability of ‘grunt’ workers has fallen off substantially.  While foremen, managers, superintendents and schedulers are abundant, few laborers remain in the job market.  The recession warded off many of those possible workers, who may have opted to go to college and get a desk job or seek out another trade with more upside potential at the time – like working the oil fields.  The boom of oil and natural gas, with high initial salaries and low experience required,  has lured the majority of the construction crews away.  On top of that, a transforming immigration climate has put a strain on supply of available workers.

It’s tough to build homes in this climate with rising costs and shortage of labor.  If you’re a builder trying to gain an advantage and seek opportunities in this market, we invite you to contact us to maximize your results.  We can help you secure financing, scour the market for available lots, identify price points to base your models, and find the most qualified potential buyers for your homes.

 

Posted in Market Reports, New Construction Tagged with: , , , , , , , , , , , , , , , , ,

New Home Construction and Wall Street

Tied to the economy as a whole, new home construction and wall street ebb and flow in a similar pattern.  When home building is hot, the economy soars – creating jobs, creating stability, and creating happy Americans.  When the economy is weak, fewer people are able to buy homes and fewer home builders are able to get financing to build homes.

New Home Construction in Northern Colorado

CIMG2120

In Northern Colorado, we are certainly on an upswing with new construction.  New home communities have been popping up from Berthoud to Wellington, Loveland to Greeley and everywhere in between.  A lot of the major national home builders have come in and bought huge developments with 300+ soon to be built lots.  Meritage Homes (MTH) is active in the Fort Collins markets with a large developments at Kechter and Strauss Cabin road in south-east Fort Collins and a massive project at Zeigler and Drake in east Fort Collins. Company wide, Meritage has added 24 new communities nationwide in the first quarter of 2013, and has 168 active communities.  Year to date their home price is up 35%.  Ryland Homes (RYL) is also a large player in the Northern Colorado market with communities in Johnstown at Pioneer Village and new to Fort Collins at McClelland’s Creek.  As a company, their completed sales are up 60.4% in the first quarter of 2013 with an increase in orders of 54.4%.  Similarly to Meritage, Ryland’s stock price is up 35% this year.  DR Horton (DHI), the area’s largest national home builder is in several communities across Northern Colorado including Buckinghorse and Trail Head in Fort Collins, Summerfields at Timnath Ranch in Timnath, along with Windshire and Water Valley in Windsor.  DR Horton’s home building revenues are up 48% compared to 2012 and DR’s stock price has followed suit with the rest of the home builders, up 38% year to date.  New home construction and wall street are closely tied.

Because the federal reserve has kept interest rates so low, the financing of new home construction has been loosening and even regional homebuilders are able to take advantage of cheap money.  In Northern Colorado, we’re seeing local builders securing lots and building new homes, although spec homes and model homes are few and far between still.  Private equity firms are getting in on the recovering housing market, and leveraging cheap money as well.  These firms have operatives out buying houses at foreclosure sales for cash, or finding good deals and leveraging a big bankroll.  With consumer confidence at the highest levels since 2006, and stock prices up 35%, it wouldn’t be difficult to see that we’re in full recovery mode.  To learn how you can get into the game, contact us and leverage our experience.

The NoCo New Home Team is committed to bringing you useful information, timely advice and expert service whenever you need it.  Whether it’s Fort Collins, Loveland, Windsor, Greeley or anywhere in between, we’ve got Northern Colorado covered.  Feel free to contact the NoCo New Home Team or subscribe to our newsletters and market reports.  We’re always taking and responding to your questions and inquires!

Posted in 2013, Developments, Financing, Market Reports, New Construction, Real Estate Investing Tagged with: , , , , , , , , , , , ,

2013 Northern Colorado Parade of Homes

parade

The NoCo New Home Team is actively involved in the formation, organization and presentation of the 2013 Northern Colorado Parade of Homes.  This event is sponsored by the Home Builders Association of Northern Colorado and will feature over thirty new homes throughout Northern Colorado including homes in Loveland, Fort Collins, Windsor, Timnath, Greeley and Longmont. Dave Pettigrew is the Chairman of the HBA Parade Committee, assisted by Jared Reimer who will also act as a committee chair.

This is the first Northern Colorado Parade of Homes since 2008 and is further evidence of the rebound in new home construction in the region. It is also a testament to the involvement and dedication of the NoCo New Home Team in the new construction industry.

Scheduled for the weekends of September 20 & 27, 2013 this is an opportunity for home buyers to check out the latest in features and floor plans in many different price ranges in about twenty different new home developments across northern Colorado.

Mark your calendars – we will see you there!

The NoCo New Home Team is committed to bringing you useful information, timely advice and expert service whenever you need it.  Whether it’s Fort Collins, Loveland, Windsor, Greeley or anywhere in between, we’ve got Northern Colorado covered.  Feel free to contact the NoCo New Home Team or subscribe to our newsletters and market reports.  We’re always taking and responding to your questions and inquires!

Posted in Buyers, Home Improvement, Lifestyle, New Construction, Sellers Tagged with: , , , , , , , , , , , , , ,

The Noco New Home Team Can Help You Build a Custom Home

CIMG2904There is a type of home out there for someone who wants to call the shots, someone who wants to build something from the ground up and be fully involved in the entire design process – custom homes.  Building a custom home can be an exciting and rewarding experience. You have the opportunity to build a custom home that is uniquely yours – even a home that is “one of a kind.’

Certainly, beginning the process takes a leap of faith, but partnering with the right people is what makes the experience ultimately satisfying.  Taking your ideas and turning them into a home takes time – usually 9 months to two years. There is also a certain amount of uncertainty and stress in a building something that has never been built before.

CIMG6940

If you would like me to help you in this process, we believe we can save you time, money, and stress.  Ultimately, you can end up with a better product, in a shorter amount of time.  We also believe that when you build a custom home, it should be fun from beginning to end.  We aim to keep it that way.  As Realtors, we’re committed to helping you build and buy a custom home.

Most of our customers have found that our assistance is very valuable to them. They feel the time and money they save as well as the quality of home they create is much more valuable to them than the cost of our services. Some of our customers, however, do not need all of the services we offer  – especially if they have plenty of time to devote to the project and have built a custom home before.

There are many different tasks associated with the design and construction of a custom home and we have developed a ‘Menu of Services’ that outlines how we can help you through the process.  We encourage you to take a look at this menu to see how we may be able to assist you but keep in mind that this is just a template and we can tailor our service to your specific needs.

Menu of Services

 1.      Selecting the Right Home Site

  • Identifying available areas, subdivisions and building lots
  • Reviewing any HOA architectural guidelines to ensure your home will fit the standards
  • Reviewing the purchase offer, contracts and disclosures
  • Negotiating the offer
  • Assisting with Financing Options
  • Gathering due diligence information such as soils reports, zoning, covenants, title insurance, survey, and architectural control standards
  • Managing the transaction, paperwork, and coordination through closing

2.      Builder Selection

  • Assist in identifying qualified home builders
  • Reviewing their references
  • Screening and interviewing
  • Touring existing and under construction homes
  • Providing construction timeline
  • Finalizing your builder selection

3.    Full Service – In addition to all of the above, we can:

  • Assist you in the design of your new home
  • Recommend home design layouts or architects
  • Assist with the selection of features and finishes
  • Assist with contract preparation and review
  • Assist you in identifying construction and/or permanent financing, working with the appraiser to obtain the best value, finding you the best interest rates, points and lender options.
  • Visit the construction site with you on a regular basis.  If you are not able to visit, we can generate progress reports with descriptions, photos and video.

Our fees for these services are negotiable and will depend on the scope of work.  We would be pleased to discuss them with you and provide a written proposal.

The NoCo New Home Team is committed to bringing you useful information, timely advice and expert service whenever you need it.  Whether it’s Fort Collins, Loveland, Windsor, Greeley or anywhere in between, we’ve got Northern Colorado covered.  Feel free to contact the NoCo New Home Team or subscribe to our newsletters and market reports.  We’re always taking and responding to your questions and inquires!

Posted in Advice, Agents, Buyers, Financing, Loans, New Construction, Offers, Tips and Tricks Tagged with: , , , , , , , , , , , , , , , , , , ,

How to Get Started Building A Custom Home

If a semi-custom or ‘spec home won’t do the trick and you want information about the possibility of building a custom home from start to finish, the NoCo New Home Team can explain the process to you and help you with every aspect.  You’ll move from ‘how to get started building a custom home’ to ‘building a custom home’ with us guiding you along the way.

As a starting point, you will need to consider the most important issues like location, size, design and price. The location will be determined by the availability of custom home building lots and what is offered in the various communities and subdivisions. Unfortunately  you can’t just put a home down wherever you please. Almost every subdivision has builder covenants or size and  design restrictions that might limit your options. You may have more flexibility with country or rural acreage but that creates another set of potential problems to be considered. You will find that the NoCo New Home Team can be very helpful in the search for the ideal location for your new home and will represent your best interests.

CIMG4156

Pinning down the location is the decision that gets the ball rolling.  Next, you’ll need to consider the entire design.  You’ll be working closely wit an architect to blend the style, appearance and orientation of the home to incorporate your wants and needs.   You, along with your architect, will end up with working drawings that a contractor can price accordingly.  Some aspects of your home can overrule others if a budget must be met.   An architect can counsel you on which of your ideas may be impractical from a cost point of view.

After getting a lot and a set of plans, it’s time to find someone who will get started building your custom home.  The NoCo New Home Team has all the  information and connections to custom home builders that you’ll need.  We only work with highly respected, experienced builders.  We are happy to provide the references and information you need on each builder.

It is important to meet with and interview several builders, as you are likely to have to interact with them closely through completion.  Personality and workmanship play a big part in selecting a builder, but also understand how they intend on communicating and working with you.  Price may not always be the most important factor.  Interview them and talk about their experience, look at the work that they have done and check out their references. You want to end up with two or three builders that you are comfortable with and who are prepared to quote on the construction of your custom home.

Once you submit your plans to the builders for bid, be sure to review the guidelines for their quote. You want to compare “apples to apples” so you need to make sure that the materials and specifications are reasonably the same and that exclusions, inclusions and allowances are similar. As an example, on a custom home you can spend anywhere from $10,000 to $25,000 or more on windows so you need to know what you are getting and what the differences are. In order to assist you in comparing you will want to get a line item quotation, which shows prices for all the various components of the construction.

Once you have selected the builder and finalized the price you will need a contract. Make sure we are involved in the review and negotiation with the builder.  The builder may have a Realtor representative and use a residential real estate contract or he may have a builder contact that has been prepared by his attorney. The normal state real estate contract does not address new home construction as well as it could, so the builder contract will probably favor the builder. In either case we should be present to assist you during the negotiation phase.

CIMG2786

Of course, you may be able to pay cash for the home, but in the case that you aren’t able to, a mortgage will be needed.  In this circumstance, make sure that you understand how you are expected to pay for the home.  There are many options available to you but mainly it will come down to whether you or your builder is going to arrange the construction financing. It will also need to be determined how the builder will access the money through construction draws. Again, we will advise you and make recommendations on your financing options.

It takes work to get started building a custom home, but it begins with a dream.  We can handle the rest.  Getting the right team in place will make it a reality.

The NoCo New Home Team is committed to bringing you useful information, timely advice and expert service whenever you need it.  Whether it’s Fort Collins, Loveland, Windsor, Greeley or anywhere in between, we’ve got Northern Colorado covered.  Feel free to contact the NoCo New Home Team or subscribe to our newsletters and market reports.  We’re always taking and responding to your questions and inquires!

Posted in Advice, Agents, Buyers, Financing, Lifestyle, Loans, New Construction, Tips and Tricks Tagged with: , , , , , , , , , , , , , , , , , ,