What Today's Buyers and Sellers Need to Know

Crisafulli Team
Nov 21
4 min read

Market Update

The latest housing report is business-as-usual. Bit of a snoozer, honestly. But apparently the report is no longer shared publicly, presumably so that we Realtors® can be the gatekeepers. That’s never seemed like a winning strategy, so ::SHWING:: (that was the sound of the gate opening) here it is.

Here’s what we think our clients should know right now:

For Buyers

Under $625,000, the current median price in Fort Collins, there are more than 150 single-family homes on the market. That’s quite a bit of inventory.

2.7 Months supply—More of a Buyer’s Market than we’ve had in the last many years, but still pretty balanced.

Opportunity—Funky and/or very outdated properties are sitting. If someone’s down to funk, there are great properties for low offers. Speaking of, someone should probably buy this one…scroll way down for property analysis.

New Construction—Builders are really trying to move inventory right now, and that’s made for some great deals for our clients (yes, price is negotiable even on new builds), often with lender incentives to boot. Ask us about our favorite builders and developments.

6.3-6.4%—That’s where 30-year mortgage rates are sitting (If you can pull off a 15-year, it’s under 6%), and predictions are they aren’t moving drastically any time soon.

Waiting never seems to work—We came across an article about how agents should be making the case that when Buyers wait because of market conditions, they tend to end up in a worse position. We’ve certainly seen this lately. Maybe sharing the post trying to help us make this point will make the point on its own.

For Sellers

Shows to Pending—It’s a helpful metric that means how many showings it takes until a home goes under contract. It’s back to a median of 10 showings across all price ranges, from a low of 7 in our hottest months. This doesn’t mean homes don’t sell off-season, but it may take 10 showings or more, and also take longer to get those showings.

Pre-list Inspection—These are more common in a balanced market and help give Buyers confidence that they’re on equal footing with the Seller when it comes to knowledge about the home.

Staging—There isn’t great data here, so you’ll have to trust us that when Buyers have multiple options, nicely staged homes stand out on a tour.

Every home is different—and every neighborhood is, too. Even though the market’s shifted, we’re still regularly in multiple offer scenarios. Some homes are just exactly what the current wave of Buyers are looking for. We help set expectations with our Sellers, whether it’s that showings will be few and far between, or to get ready to have a full dance card. (Eh, it’s from a bygone era and we finally looked it up).

Other stuff

Election Results—2H passed, 303 did not, so multi-use Hughes space here we come.
From Joann Fabrics to Macy's, what we know about fates of vacant Fort Collins properties
50-Year-Mortgage—Just how bad of an idea is this? If you aren’t up to speed on how this would play out, this is a helpful chart of what a 30 vs 50-year mortgage looks like for purchases in major cities across the US.

One Year In (Pt. Deux)

Our newest team member, Jocelyn, just crossed the one year mark in real estate! Here’s Part 2 of her interview looking back on her first year.

Jocelyn making it through first year in real estate.

Watch

We’ll be thinking of you next week when it’s our turn at the table to say what we’re thankful for. We’re grateful to know each of you, for your friendship, that we get to help with real estate, problem solving, and all of the other aspects of life that intersect with that work.

Wishing you a very happy Thanksgiving.

With much gratitude,

Crisafulli Team

3031 Eastborough Analysis

Why we’re fond of just this kind of funk.

Investment Opportunity: Assume the 2.875% VA loan on this 5 bed 2 bath property (with a secret entrance to the mechanical room), rent it out. This home has been sitting for 261 days, so it’s ripe for someone to swoop in.

Purchase Price: $540,000 (Owner has said they’d allow the assumption for this amount, vs. the $525,000 list price for a conventional purchase)

Additional Costs: They home seems to be in good shape structurally, and the previous owner added HVAC, which is a huge upgrade. It needs about $10-12K in painting and flooring to make the aesthetic more cohesive, unless you just love the mauve of it all.

Monthly Payment: $2,175

Projected Rent: $2,650 (conservative estimate)

Down Payment: This is to pay the Seller’s equity in the home, which is about $215K. That’s a lot of money. If you take out a purchase HELOC at around 8%, you will be able to get this down to at least $150K and still have it cashflow.

Return: Running the numbers on this one, holding and then selling at the 7 year mark shows an Internal Rate of Return of 10%. Holding for 15 years takes that to 15%. Roll it into the next investment property via 1031 exchange, and the returns really take off.

This is the best assumable property for an investor we’ve seen in recent months. Reach out if you want more information or to talk it through.

Featured Properties:

Assumable Mortgage Listings

In case you’re new here, we love assumable mortgages. Every couple (sometimes few) weeks, we send out new assumable opportunities. These homes are all active on the market, and have loans that are assumable. We don’t know until we engage the agent and seller if they’re willing to have them assumed, but any time a client is interested, we get in touch, usually explain how the process works to the agent, and go from there. If you ever see properties that could be a fit for you or someone you know, please reach out (it’s easy! just reply to this email). And there are lots more properties to explore over on Roam.