Each Office Independently Owned and Operated. RE/MAX Alliance Loveland 750 W Eisenhower Boulevard Loveland, CO 80537 (970) 669-1234 PRESORTED STANDARD US POSTAGE PAID REAL MARKETING January 2023 Real Estate Market Report ALFORD MEADOWS Published by REAL Marketing (RM) | www.REALMarketing4You.com 858.952.4280 | ©2023 www.OwnThisHomeTeam.com Billie Jo Downing REALTOR® ABR, CDPE, CNE, CNHS, CRS, ePRO, GRI, RCC, SFR, SRES 2007 Realtor of the Year 970.481.4150 BillieJo@OwnThisHomeTeam.com Kathy Scribner REALTOR® ABR, CDPE, CNE, CNHS, ePRO, GRI, RCC, SFR 970.669.4175 Kathy@OwnThisHomeTeam.com Many buyers are out looking for homes in the new year, whether they are searching for their next dream home or were relocated due to company relocations in the new year; demand is increasing! THE ADVANTAGE OF LISTING IN EARLY 2023 WORRIED ABOUT MISSING THE SPRING MARKET? No one can predict the future, though if you wait until everyone else lists their home in the spring, your home may not see the exposure you are expecting, especially if there is lower demand! SHOULD YOU LIST AT THE START OF 2023 OR HOLD OFF UNTIL SPRING? GET AHEAD OF THE CURVE AND LIST YOUR HOME TODAY WITH OWN THIS HOME TEAM! Visit www.OwnThisHomeTeam.com for more community info, current listings, and recent sales. WE HAVE HELPED A TOTAL OF 56 BUYERS AND SELLERS IN ALFORD MEADOWS! Your Alford Meadows Real Estate Specialists & Neighbors PRESENTED BY BILLIE JO DOWNING & KATHY SCRIBNER www.OwnThisHomeTeam.com TRUST YOUR HOME TO THE NEIGHBORHOOD SPECIALISTS! Prepared Especially for Leonardo and Angelica Washington
The Current Market
While elevated rates, sluggish sales, and high inflation have taken a toll, it’s unlikely home prices will drop next year. In fact, we may see a further uptick; home prices are holding steady for most parts of the country since inventory is extremely low.
Leonardo and Angelica,
Mortgage Rates
Housing inventory is about a quarter of what it was in 2008, with distressed property sales at just 2% and nowhere near the 30% mark seen during the crash. There are signs that mortgage rates have topped out at 7%. One example is the October consumer price index, which shows inflation is rising less than expected.
Homes
Predictions
Home sales are expected to decline by 7% in 2023. However, 2024 is expected to result in a strong rebound, with a projected increase of 10% in home sales and a 5% increase in the national median home price. Prices should hold firm or marginally grow.
Plenty of potential buyers are still patiently waiting to enter the market. Talking with your neighborhood experts to develop a plan to stay ahead of the curve will result in the best sale possible. Call us today at 970.481.4150 or 970.669.4175 to get the conversation started.
Homes
Source: NAR’s Lawrence Yun DON’T EXPECT
HOME PRICES IN 2023 Expect an Increase of 1% in The National Median Next Year Instead Living, Loving, and Promoting Our Community's Value for Over 25 Years! No One in the World Sells More Real Estate than RE/MAX! Billie Jo Downing, Kathy Scribner, Own This Home Team, and RE/MAX Alliance are not in any way affiliated with Alford Meadows Owners Association, nor is this in any way an official advertisement or publication of Alford Meadows © 2023 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the IRES MLS between May 19th and December 14th, 2022. Listings and sales may not be those of RE/MAX Alliance. The IRES MLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.
A PRICE DROP IN
Currently Under Contract or Pending in Alford Meadows Status Street Name Beds Baths Est. Square Feet Year Built List Price List Date Pending Crabapple Drive 3 2 2,541 2004 $545,000 10/28/22 Pending Coral Burst Circle 4 3 3,388 2006 $625,000 05/18/22 Pending Brandywine Drive 5 4 3,528 2004 $639,000 12/09/22 Pending Hornbeam Court 4 3 4,016 2004 $719,900 10/29/22 Status Address Beds Baths Est. Square Feet Year Built List Price Sold Price Sold Date Sold 1145 Crabapple Drive 5 4 2,987 2005 $590,900 $570,900 11/30/22 Sold 5210 Apricot Court 4 3 3,043 2013 $627,000 $615,000 11/04/22 Sold 1245 W 50th Street 3 3 2,180 2003 $545,000 $545,000 09/26/22 Sold 5242 Fallgold Drive 3 4 4,514 2007 $835,000 $820,000 09/01/22 Sold 1125 Flowering Almond Drive 3 3 3,848 2004 $675,000 $660,000 08/01/22 Sold 880 Crabapple Drive 4 3 3,246 2003 $650,000 $675,000 07/18/22 Sold 1275 W 50th Street 3 3 2,267 2004 $525,000 $525,000 07/13/22 Sold 4704 Mimosa Street 4 4 4,124 2004 $800,000 $815,000 06/22/22 Sold 1322 Crabapple Drive 3 2 1,706 2012 $485,000 $490,000 05/25/22 Sold 4735 Coffeetree Drive 4 3 3,266 2004 $625,000 $650,000 05/19/22
Recently Sold in Alford Meadows
in Alford Meadows Status Street Name Beds Baths Est. Square Feet Year Built List Price List Date Active Norway Maple Drive 5 3 3,750 2011 $705,000 11/22/22 www.OwnThisHomeTeam.com Billie Jo Downing REALTOR ® ABR, CDPE, CNE, CNHS, CRS, ePRO, GRI, RCC, SFR, SRES 2007 Realtor of the Year 970.481.4150 BillieJo@OwnThisHomeTeam.com Kathy Scribner
REALTOR ® ABR, CDPE, CNE, CNHS, ePRO, GRI, RCC, SFR If you’re curious about your home’s current value, whether for future sale, estate planning, or any other reason, call us today at 970.481.4150 or 970.669.4175 . Let our marketing go to work for you! INVENTORY IS LOW, AND WE HAVE MOTIVATED, WELL-QUALIFIED BUYERS LOOKING FOR THEIR NEXT DREAM HOME IN ALFORD MEADOWS! Call us today to discuss how we can help you achieve your real estate goals.
Homes Currently Listed
970.669.4175 Kathy@OwnThisHomeTeam.com
Leonardo and Angelica,