Real Estate Information Archive


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Net Worth of Homeowners 44x Greater than Renters

by Cory Dudley



Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter!


Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.


Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.


5 Reasons to Sell this Fall!

by Cory Dudley



Here are five reasons listing your home for sale this fall makes sense....


1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.


2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal housing market.

This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six, but that number has jumped to an average of almost nine years since 2008. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.


3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days, after seeing a 12-month high of 48 days in January.



4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move-up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 5.0% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.


5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.


That is what is truly important.


Millenials Homeownership Rates Increasing

by Cory Dudley



Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group.

This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American, 6 Trends Poised to Reshape Homeownership Demand, revealed reasons why homeownership numbers will continue to increase for Millennials.


Millennials are the most educated generation in the U.S.

Why does that matter? First American explains:

“Our model shows that, all other factors being equal, the likelihood of homeownership increases by 3 percent for those that earn a bachelor’s degree over those with a high school degree. The likelihood of homeownership jumps another 3 percent for those that earn a graduate degree.

The more educated, the better the likelihood for homeownership. And, as we mentioned: Millennials are the most educated generation in the U.S.


Homes & marriage go together

Marriage is a key determinate in homeownership. According to an analysis by First American, the homeownership rate is 30% higher among married couples compared to non-married households.

Millennials have put off marriage in the pursuit of higher education. As this group ages, more and more will marry and purchase a home.


Parents buy houses

According to the study:

“The homeownership rate is 1.7% higher for households with one or two children compared to households with no children, and it is 5.4 percent higher for households with three or more children.”

The report goes on to say that as Millennials grow older there may be an increase in not just marriage but also in married couples with children. That will probably also create a “corresponding” increase in homeownership demand.


Wages and the economy

The study goes on to explain that recent gains in income growth and a strengthening economy will also help all generations (including Millennials) be more willing and able to purchase a new home.


Bottom Line

We guess the time has come to announce – Here come the Millennials!!


Inventory Drops Again... List Now!

by Cory Dudley


  • Existing Home Sales are now at an annual pace of 5.52 million.
  • Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
  • The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains.​​

If you've been considering selling your home, now is the perfect time to go on the market! Give us a call for an in-home visit and we'll get started....


Before You Buy Your Dream Home...

by Cory Dudley


If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.


1. Why am I buying a home in the first place? 

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say, “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.


2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in May (the latest data available) was $252,800, which is up 5.8% from last year. This increase also marks the 63rd consecutive month with year-over-year gains.

If we look at home prices year over year, CoreLogic is forecasting an increase of 5.3% over the next twelve months. In other words, a home that costs you $250,000 today will cost you an additional $13,250 if you wait until next year to buy it.


What does that mean to you?

Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy. 


3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), NAR, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:


Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.



Homeownership Offers Stability & Wealth Creation

by Cory Dudley



The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

  1. They want the opportunity to build equity.
  2. They want a stable and safe environment.

Building Equity

In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s.

History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.”  

Family Stability 

Does owning your home really create a more stable environment for your family?

survey of property managers conducted by disclosed two reasons tenants should feel less stable with their housing situation:

  • 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than to negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line

Homeowners enjoy a more stable environment, and at the same time are given the opportunity to build their family’s net worth.


Boulder County Home Prices Increased 14% in 2016

by Cory Dudley



Boulder county experienced it's highest annual gains in the past five years last year, with a whopping 14% increase in value. The increase is nearly double the national growth rate, according to the National Association of Realtors, making it crystal clear the hot market we're residing in. And it's not just the city of Boulder that appreciated - everywhere in the county but Lafayette appreciated more than the city of Boulder!



Longmont experienced 60% more transactions than the city of Boulder in the last year, due to greater availability in a more reasonable price point. Median home  prices in Longmont ended up at $357,900 by the end of the year, leading the way with a 15.5% increase in median prices from the prior year.

Many homebuyers became discouraged by multiple offer scenarios and overpriced listings, opting to abandon their search until the spring. As a result, sellers can now find they've listed too high and are sitting on the market for longer periods of time.



Single family median home prices, year-over-year growth for 2016

Boulder County overall - $529,000 (13.7%)

Boulder - $885,000 (11.3%)

Longmont - $357,900 (15.5%)

Lousiville - $594,500 (14.3%)

Lafayette - $483,500  (10.6%)

Superior - $596,000 (11.4%)

Mountain areas - $525,000 (11.7%)

Plains areas - $615,000 (11.8%)

Broomfield - $450,000 (9.8%)


For a list of homes currently available in Boulder county under $500,000, click HERE...

If you're looking to buy a home in Colorado this year, reach out to us!  We'd love to help you navigate the entire process, from preparation to celebration.

The Effects of Limited Housing on Today's Market

by Cory Dudley


Maybe it’s because I’m in the industry, but I truly feel that it’s more than my circle talking about the housing shortage in Colorado. Even family from out-of-state want to know what’s happening. They all think it’s because of the marijuana laws. There’s a little to that, but mostly it’s because Colorado is an amazing state with so much to offer and so much opportunity; a booming tech sector, incredible outdoor activities (the list is long) - people want to be here! Specifically, on the Front Range, close to the Denver Metro Area.

But, sadly, we don’t have enough available housing for everyone to live – and – the rent is too high for an average family to pay and allow for other necessary expenses.



According to researchers, Colorado is ranked the 8th most expensive in the nation for rent in non-metro areas and 11th for overall costliness! Unfortunately, our wages haven’t caught up to this status, and to be able to afford an “average” apartment, it would require a wage of $21.12 or the equivalent of three, full-time, minimum wage jobs! Therefore, the recommended 1/3 of earnings going towards housing is no longer applicable, and there is limited ability to save money or put money towards other products and services.

So, that’s all pretty Debbie Downer (if you don’t know her from Saturday Night Live - she’s wonderful;)



Some folks are thinking outside the box and finding opportunity in all this craziness. According to a study on the, there are currently close to 800,000 “spare bedrooms” available for rent. Often, these are rented by empty nesters or older residents. There are plenty of single renters that would jump at that opportunity!

However, folks considering renting need to make sure their municipal zoning laws are in cahoots with their plans… Rules/concerns about the number of unrelated individuals living together, mobile homes on properties, the concern over adequate parking, property values... All of these are valid points, but we need to be creative and allow for more amazing people to call themselves Coloradans!

We can accommodate, but communities will need to be creative and work to find equal ground. Colorado is my home - I’m fortunate to be here and I wouldn’t want to be anywhere else. I want anyone with the hope of living in this great state to have the same opportunity that I did 7 years ago.

In order to give buyers the best chance at success in finding a new home in colorful Colorado, whether it's a new start or just a move across town, you'll need an expert in your corner. Even in a buyer's market, there are so many benefits to working with a specialist who can aid you through the process - whether you're dealing with VA loans, FSBO's (For Sale by Owner), Foreclosures or FHA loans. Our team is equipped to guide you every step of the way!

We'd love to hear from you,



Christa is a Licensed REALTOR for The Winning Team Real Estate Group at Old Town Real Estate in beautiful Longmont, Colorado. Christa is The Winning Team's Buyer's Specialist. Her business background gives her the experience and expertise a Buyer needs and wants in today's competitive market. Christa lives with her contractor husband, Guy, and their two pups Bubba and Whim in the foothills of North Boulder. Christa can be found spending her free time mountain biking, skiing, running and enjoying her home and property. It's all that Colorado has to offer that keeps Christa and Guy happy, healthy and enjoying life to it's fullest.

Christa can be contacted via email  or mobile 303.913.9698.

Lack of Inventory Posing a Challenge in Current Market

by Cory Dudley

Going into the 2016 spring market, the biggest challenge the real estate industry has is the lack of available housing inventory for sale.

Here are a few experts and their thoughts on the subject:


David Crowe, Chief Economist for the National Association of Home Builders:

“Many sellers may not have an absolute decision as to whether to buy an existing home or a new home. So the low inventory of existing homes is locking them in place.”

Ralph McLaughlin, Chief Economist with Trulia:

“We are in a time of short supply, which is great news for sellers because they will likely be faced with multiple offers due to the little inventory out there…Buyers will be up against a lot of other people and against a short supply of existing homes.”

Lawrence Yun, Chief Economist with NAR:

“First-time buyers in high demand areas continue to encounter instances where their offer is trumped by cash buyers and investors. Without a much-needed boost in new and existing-homes for sale in their price range, their path to homeownership will remain an uphill climb.”

Fitch Ratings:

“One important issue that has restrained sales and starts is inventory. On an absolute basis, inventory has not expanded as much as in past recoveries, leading to less selection for buyers. This is especially true for existing home sales but is evident for new home construction as well. When it comes to U.S. housing inventory, more is better." 

Jonathan Smoke, Chief Economist for

“The increase in sales is resulting in continued tighter-than-tight supply—measured by NAR to be four months in January.  For you non-economists out there, that metric measures the number of months it would take to sell the current inventory of available homes, at the current pace. Got it? Six to seven months’ worth of homes on the market is considered normal; four months is cray-cray.”



But what does all this mean if you're a Buyer?

What does it mean if you're a Seller?


For Buyers, it means that you should take into account the cost that waiting could bring, because the amounts of cash necessary to buy a home will likely increase throughout the year. Lower inventory drives home prices higher - and with a significant increase in new home construction, it is unlikely there will be relief in the form of slowing price growth in the months ahead.

For Sellers, it means that things are looking pretty golden for you right about now! With demand high and inventory low, there are many homes selling for list price or above list price.


Housing Market to 'Spring Forward' This Year

by Cory Dudley

Housing Market To “Spring Forward” This Year | Keeping Current Matters

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.

The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2015 all fell in April, May or June.

Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2016 and want a 'Sold' sign in your card, call us!

Displaying blog entries 1-10 of 10