Real Estate on the Front Range: Recent Episodes
Sean Gilliam
Get monthly market updates and informative content for the Front Range of Northern Colorado. In working with home buyers and sellers, Sean Gilliam firmly believes that informed consumers make the best decisions.
The Spring market continues on, though restrained by those higher mortgage interest rates. Price appreciation continues to elevate only slightly. I’m seeing some local markets have price reductions while homes at the lower end of the market are getting multiple offers. The balance of sales shows price appreciation in our overall market.
If you or someone you know is thinking if now is the righttime to buy or sell, send them my way. I’d be glad to help them evaluate the facts and see what their next best move is.
We are into our Spring market in the real estateworld. In this episode I cover the mostrecent data in a year-over-year and month-over-month format so you can see howthe market is trending. We do have someheadwinds as we get into our Spring market, including higher interest rates andhigher home values. Despite the impactthis is having on affordability, the market is remaining stable. This is mostly due to home buyers and sellersthat are doing what they can to make things work for their needs. In this episode, I also cover the most recentinflation data, mortgage interest rates and give an update on the real estatebroker commission lawsuits and settlements that you’ve likely seen in the news.
If you’re thinking of buying in this market, you mightlook at newly built homes, as they offer rate buydown incentives, making yourmonthly bill less. Plus, it’s a new home! Get in touch if this is an option you want toconsider.
Questions or need help with real estate? Let’s talk!
Kind regards,
Sean Gilliam
970-313-6706
Spring is upon us and the market is starting to pick up some steam. This episode is short and sweet and gets right to the data. I highlight which part of our market is showing more signs of activity than the others. I also review where mortgage rates are at…back below 7% again.
Questions or need help getting ready to buy or sell? Get in touch for free consultation so that you are ready for your next move.
Sincerely,Sean, 970-313-6706
The Spring market is upon us now that the Superbowl is over. But how has the market been trending through the winter months? Are we seeing significant changes? I review the Year-over-Year and Month-over-Month data to help you see how the market is responding in light of the current state of our economy. I also give insights into whether or not you should buy or sell a homein our current market conditions.
Questions? Don’t hesitate to get in touch.
Sean Gilliam, 970-313-6706
In this first market update for 2024, I highlight the most recent housing market data for Northern Colorado and show how the Spring market will likely take shape.
What does 2024 hold for the real estate market in Northern Colorado? Is 2024 a good year to buy or sell a home? I review the data from 2023 for the housing market, mortgage interest rates aswell as the Colorado economy to show what likely lies ahead so that you can make the best decision moving forward.
The market has been fairly stable overall with small changesbut nothing like the escalated market we had in recent years. With higher interest rates and the resultant decrease in demand, there has been downward pressure on home prices. However, just in the last two days things have changed, at least in regard to interest rates. They dropped to the low 7s and as of 12/14, they are at 6.82% and trending lower. How will the market respond? Are these rates low enough to significantly increase buyer demand? Time will tell…
In this episode I’ll take the usual look at how the marketis trending in Northern Colorado and highlight the average sales prices in the major communities along the Front Range. Don’t hesitate to get in touch with any questions or to discuss if now is the right time for you to move.
Now that we have some data going into the Fall market, what are we seeing? There is some variation across the Front Range but overall the market is stable. In this episode I cover the market data for Boulder, Larimer and Weld Counties. I also highlight the average sales price of homes in different communities along the Front Range to show you what you get for your money. I cover interest rates, of course. They topped out just above 8% recently but now they have come down to around 7.5%. At the end is a segment that shows the month over month change for these counties. Questions? Don’t hesitate to get in touch!
In this episode I cover the most recent data for Northern Colorado, mortgage interest rates and the average sales price for major communities along the Front Range.
Mortgage interest rates are at their highest in 20 years. Are there any options for those who want to buy a home in the near future? I cover 3 options that will equip you to make the best decision moving forward.
Is the real estate market going to crash or is it stabilizing? In September's market update, I highlight the local data to help us interpret what is happening in our market. I also discuss the inflation rate and current mortgage interest rates.
In this episode of How to Buy a Home, I will explain important concepts related to Earnest Money. In most real estate transactions, earnest money will be required by the Seller from the Buyer as part of the real estate contract. I'm going to answer several questions related to earnest money that most people ask me when buying a home.
- What is earnest money?
- Where does it go during a transaction?
- When is it due?
- What is it used for at closing?
- What if I terminate? Will I get it back? How soon?
- What if I don't turn it in on time?
- What if there is an earnest money dispute?
I hope you find this episode helpful. If you can think of any other questions, let me know in the comments below!
The housing market seems to continue to be in the doldrums. Inventory is lower than usual, yet homes are staying on the market longer. What is behind this unique housing market we're in? Mortgage interest rates. In this episode I'll explore where rates are likely headed, what the foreclosure rate is and housing affordability.
Would you buy or sell a home in these market conditions? Why or why not? Leave your response below or contact me directly.
Don’t hesitate to get in touch with any questions or if you need help with real estate.
Best regards,
Sean
In this episode of How to Buy a Home, I explain the financing side of a real estate transaction. I discuss how to find a lender and what is involved when I am working with a lender in helping you buy a home.
Many variables are impacting our housing market. Overall, compared to last year, the housing market in Northern Colorado is stabilizing. No major changes in one direction or another. I think many buyers and sellers are holding off due to higher interest rates and some uncertainty with regards to the economy. There are buyers and sellers out there moving forward but it seems more people are in a wait and see mode. What will change that? When mortgage interest rates get below 6% and stay there for a while. Hopefully, if the experts are correct, that will happen by years end.
In this episode I highlight the inflation rate, mortgage interest rates and the local market data so that you can see how things are trending. Questions? Don't hesitate to get in touch with me personally or leave a comment/question below.
While there has been a drastic change from last year at this time, we are seeing a milder trend developing in our most recent market. I cover the changes year over year and month over month so that you can see how the market is trending.
Want to know what is happening to the inflation rate? I cover this and how it impacts mortgage interest rates. I also address foreclosures, something that may be impacting you or someone you know. While overall there isn't a significant increase in homeowners being foreclosed on, if it is happening to you or someone you know, there is hope.
Get in touch if you need anything and if you find my content helpful, please be sure to subscribe and like!
Thanks, Sean
The market in Northern Colorado is stabilizing and seems tobe in a holding pattern. With theanticipation of a potential recession and the impact of inflation, many wouldbe sellers are holding off. While theinflation rate continues to trend downward, it’s not enough to boost consumerconfidence. In this episode, I reviewthe latest data and highlight mortgage interest rates, inflation data anddiscuss the valuation notices we received from our county assessor’s office andhow I can help you. Thanks for watching and don’t hesitate to get in touch ifyou need anything!
April 2023 Market Update is here. See the recent stats as I compare year-over-year data with month-over-month data so you can see how the trend is changing. I highlight where mortgage interest rates are at and forecast which direction they will likely move in the latter half of the year.
We are a couple of months into 2023 and now we can start to see some potential changes in the market. In this episode, I review the local market data as well as point out the inflation rate and recent changes in mortgage interest rates, with a forecast of what we can expect later this year.
Here is a link to my recent blog post, Mortgage Rates-Where Are They Headed, that takes a closer look at what causes mortgage rates to fluctuate and which metrics give us an idea of where things are headed.
Want to see the podcast on my Youtube Channel, Real Estate on the Front Range? Click here - March 2023 Market Update.
Questions or need help with real estate? Feel free to contact me!
As we get into 2023 and after reviewing market forecasts, many are wondering what the real estate market will actually do. In this episode I highlight what is happening in the market by the numbers as well as what is happening out on the street. I also cover the market shift from last Spring until now, using charts that will help you to see how rising mortgage interest rates are impacting the real estate market.
Here is the latest market update for Northern Colorado. I discuss how the market is trending and highlight how mortgage interest rates are the lowest in 4 months!
Sean Gilliam is a real estate agent with LoKation Real Estate in Northern Colorado. Sean can be reached at sgilliam@mylokation.com or by phone at 970-313-6706. For additional content see Sean’s Youtube channel or to search for properties see his web page.
Interested in buying a home or selling your current home? Sean is committed to your success. Give him a call at 970-313-6706 to get started.
What will the real estate market look like in 2023? There are differing opinions as to what will happen, some are optimistic while some predict hard times ahead. In this forecast, I use data from national sources as well as an annual report put out by Leed’s School of Business at University of Colorado in Boulder. They do a thorough evaluation of our local and national economies to give us an idea of what opportunities and/or headwinds lie ahead. I integrate this information with other sources of data to help us see how the housing market might look in the year ahead.
Here is the link to my blog post that has hyperlinks to the references I use in this forecast: https://activerain.com/droplet/Hjp6
There is a lot of hype out there about the housing market. But what is really going on and how does it impact you as a buyer or seller of real estate? I cover the latest data, give an update on mortgage interest rates and finish off with tips for how buyers and sellers can best position themselves to be successful in this market.
Here is the latest market update for Northern Colorado. Wondering where mortgage interest rates are at? Curious to see how the market is trending and how that might impact you? I'll cover these items and am available to answer any questions you may have.
Want to see the video podcast on YouTube? Here is a link: November 2022 Market Update
Regards,
Sean
You want to buy a home but you’re concerned about the current housing market and the economy overall. You don’t want to buy a home and have the housing market crash like in 2008. I totally understand these concerns and it’s always legitimate to consider what is best for you. In this episode I am going to highlight who can benefit in this housing market and give 3 reasons why now is a good time to buy a home.
With many headlines speaking to economic uncertainty due to inflation and a shifting housing market, among other indicators, what does that really mean and how does that impact you? In this episode, the September Market Update, I am covering the most recent data and will point out some basic strategies for buyers and sellers in this shifting market that we’re in. I’ll also cover some quotes from known experts on the subject of home values to give you an idea of what is happening in the market and what we can expect in the near future.
Questions? Do you or someone you know need help taking advantage of this real estate market? Call or text me at 970-313-6706.
Regards,
Sean
Are we in a housing recession? According to the National Association of Home Builders, the new construction industry is. I cover why they think so and how this impacts home buyers.
Also, with regard to our economy, is there a light at the end of the tunnel? Lawrence Yun, Chief Economist for NAR sheds light on where things may be headed with mortgage interest rates and inflation.
In this episode, I cover these recent news headlines and review the latest housing market data for Northern Colorado.
As the housing market has shifted, buyers and sellers need to shift as well. Particularly their expectations and gameplan need to shift to be successful in this market. In this episode I explain tips for home buyers and sellers that will help them be realistic while achieving their goals.
As the market shift continues, what is the impact on buyers and sellers? What should they do in these changing market conditions? In this market update I’ll answer these questions and review the key metrics that demonstrate how the market is changing.
Check out my Google Business Profile for contact information.
Regards,
Sean
I hope everyone is doing well! Here is the latest market update for Northern Colorado.
Everyone wants to know...what is going on in the housing market? Are we heading toward a market crash? Is the market shifting? I'll answer these questions and give you the latest data for the Northern Colorado housing market so you can see how the market is trending.
Check out my recent videos:
Will We Have a Housing Market Crash?
or
Are We in a Housing Market Shift?
I dig further into answering these pressing questions with supportive data and give you an idea of what you can expect in the future.
Want to search for properties, read my latest blog posts or see how much your home might be worth? Check out my website.
Here is my Google Business Profile for my office location and additional contact information.
Let me know if there is anything I can do to help!
Kind regards,
Sean
A housing market shift is happening. How do I know? Recent market data doesn’t clearly show it yet, as the numbers show that homes are still selling above list price and the average and median sales prices are up double-digit percent points from last year at this time. We are also in the summer season when many people take a break from their real estate goals, so that does factor in to some degree. However, there are other indicators that are starting to trend upward which are signaling a shift. First more listings are doing price reductions. In fact, there have been 72 in the last 2 weeks in my local market. Further, even builders are now doing price reductions on some of their inventory instead of the usual incremental price increases. Secondly, the days on market metric is increasing, meaning more homes are staying on the market longer before going under contract. This is in contrast to the trend earlier this year when homes would go under contract within the first weekend. Because homes aren’t selling as fast, inventory is increasing. Another indicator is that only the best, move-in-ready homes are getting multiple offers and selling over list price. Even with that, they are only getting 2 or 3 offers instead of 10 or more. This is an indication that buyer demand, while still strong, is waning. In this episode I’ll explore what is causing this shift and what strategies buyers and sellers can employ to be successful in this changing market.
Check out my Google Business Profile for location and contact information.
Regards,
Sean
Are we in a housing bubble? With home prices skyrocketing in the last couple of years, are we due for a correction? If the housing market moved like the stock market, then yes. However, real estate is a much more stable market than stocks and its consistent upward trends are little moved by economic fluctuations. This is true even in the face of most recessions over the years. In this episode we’ll look at some important data that shows we are not heading for a housing market crash.
Check out my Google Business Profile for more info and ways to contact me: Google Business Profile
In this market update, I’ll cover the impact of higher mortgage rates, where consumer confidence stands regarding real estate and the top ten best places to live in the United States. Of course, I’ll also cover the latest local data so you can know how the real estate market is trending across the Front Range of Northern Colorado.
In this episode I’ll be reviewing Metropolitan Districts, also known as metro districts or metro tax districts. Here in Northern Colorado, homes are being built in or reside in these districts and they have important implications for home buyers. I’ll share with you the purpose and definition of a metro district per the Colorado Revised Statute, some research completed on the implications for homeowners, pros and cons and finally some due diligence you can do to see if living in a Metro District is a good fit for you.
Here is the latest market update for Northern Colorado. Many are wondering how higher mortgage rates, inflation and rising home prices are impacting the real estate market. I’ll cover these topics and the latest data so you can see how the real estate market is trending here along the Front Range.
Buying a home is a large investment and you want to make sure there are no surprises waiting for you after closing. For instance, is the foundation in stable condition? Have there been water issues in the past? Have the mechanicals been serviced recently? Is the sewer line intact? These are some of the things you’re going to want to know during the inspection period.
In this episode, I'll cover the importance of getting a home inspection, what the real estate contract states regarding your rights as a Buyer and whether or not you should negotiate away these rights to get your offer accepted in this competitive market.
Mortgage rates are going up. How does that impact home values? What should you do if you want to buy a home in this market environment? I’ll cover these questions and the latest data for Boulder, Larimer and Weld Counties.
Want more content? Check out my podcast, Real Estate on the Front Range, wherever you listen to podcasts. You can also get episodes on my YouTube page or Real Estate on the Front Range • A podcast on Anchor
Let me know if you need anything!
Kind regards,
Sean
Living in the mountains is a great way to live. Surrounded by natural beauty and amazing views is a blessing indeed. While most people love the majesty of the mountains, living there isn’t for everyone. There are important considerations involved in buying a home in the mountains that one wouldn’t have to think about when buying a home in the city or surrounding suburbs. In this episode, I’ll highlight some important things for you to know to see if mountain living is for you.
We all have to make a decision at points in our lives as to where we will live and whether we will rent or buy. In this episode I am going to evaluate the financial pros and cons of renting vs. buying a home.
Buying a home is an exciting and important event and involves a significant amount of financial investment, typically the biggest we’ll have in our lives. You want to have that investment insured against anything that might jeopardize your ownership or cost you money for debts you didn’t incur. Title insurance is designed to do just that. In this episode I’ll cover some aspects of what title insurance is and outline the process in working with a title company in a real estate transaction.
In this episode I'll cover the current market data for Northern Colorado and explore what a typical winter market looks like in comparison to the one we're currently in.
The market continues to be defined by low inventory, (some of the lowest Months Supply of Inventory figures that I've seen) and high demand. However, mortgage rates have gone up recently and are hovering in the mid 3's. How will this impact the real estate market? It certainly will impact some buyers by decreasing their purchase power, but many will still be able to move forward. Take a look at this latest market update to see data specific to Boulder, Larimer and Weld Counties.
Welcome to 2022! As we are getting into the new year, what can we expect with regard to the housing market? How does our local economy impact the housing market and help predict what will likely happen? Every year I review data from our local market and also review the annual Colorado Business Economic Outlook produced by Leed’s School of Business to help you get an idea of what we can expect to happen in the real estate market of Northern Colorado.
What is Months Supply of Inventory? This is a helpful measure in assessing the health of the real estate market. It is useful in determining if we are in a buyer's, seller's or balanced (neutral) market. By definition, it is how long it would take to sell the current inventory of homes on the market, given the pace at which they are now selling and assuming no new listings are added.
Want to get notifications on all of my upcoming content? Subscribe to my podcast: Real Estate on the Front Range.
Want to see how the real estate market is trending along the Front Range of Northern Colorado? As we get into the winter months, inventory continues to decrease. Still plenty of activity on the market with strong buyer demand. Home values are going up and are forecasted to continue rising due to ongoing inventory issues. Mortgage rates are slowly increasing and will continue to rise into 2022 so it might be a good time to start if you plan on buying a home. For more details, check out this episode to get the latest data on how the real estate market is trending along the Front Range of Colorado.
What is earnest money? How much will it be and where does it go? I'll answer these questions and more in this episode.
Ever wonder what is involved in the purchase of a home, and more importantly, how much money is this going to cost you out of pocket? Today I’m going to be talking about those up-front costs involved in purchasing a home. These are expenses that require you to have cash on hand to pay for before you get to the closing table. I’ll talk about earnest money, home inspections, surveys and the cost of consulting with other professionals, whether they be attorneys, accountants, engineers, etc.
Spoiler alert, not much has changed since last month. Inventory is still low and buyer demand is strong, especially for updated homes that are move in ready. However, in this episode I do cover mortgage rate projections through the 3rd quarter of next year. Good information to have when you're considering whether or not you should buy or sell a home soon. In helping you to be best prepared for making such a big decision, I highlight my Buyer and Seller Guides that are available to you for free. Just get in touch and I'll send you a copy!
Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.
The real estate market appears to be showing the typical market slowdown that it does in the Fall. However, we are still experiencing the effects of the pandemic and all that it entails, so nothing is certain. What is certain is that inventory remains low and demand from buyers remains high. This will result in home values moving upward, though likely at a slower pace in the coming years. In this episode I’ll review the data for the month of September for Boulder, Larimer and Weld Counties. I’ll also show some figures from the national market to show how home sales are trending across the nation.