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Happy Holidays!

December 1, 2010

Happy Holidays and a Happy New Year to you all.   I am here to once again to try to share knowledge, information, and trends with you all.  It has been a really crazy month with lots of buyers and lots of showing property, believe it or not.  I feel blessed with the opportunity to work with so many clients at this time of year.  And there are still deals to be had out there, and the interest rates, although they have been creeping back up, still remain historically low.  Plenty of bank owned properties continue to come onto the market, offering significant discounts to buyers that can qualify.  That is the hard part: qualifying for a loan right now.  The credit markets have not completely opened up yet….this has translated into a very strong RENTAL market, at least here in Ft Collins.  We are below 3% vacancy rate on rental property here which is the lowest vacancy rate we have seen in decades.  Since it is so hard to get a loan right now, people just have to rent.  You know who this is good for?  INVESTORS.  Good rentals are getting snapped up off the market quickly, cleaned up, and rented, sometimes within an hour of posting them.  Doom and gloom is still the status quo in the national news, but DON’T believe it!  Remember, real estate markets are LOCAL so we cannot just generalize about these things!  For instance, Fort Collins is very much a “blue chip market”, meaning that we don’t get the huge appreciation/depreciation swings that other places (such as Las Vegas, southern FL, or AZ) get.  Those were the areas that were seeing double digit property appreciation, in ONE QUARTER sometimes.  Now obviously that was unsustainable….and you can see what the backlash was by studying those markets.  They couldn’t be in much worse shape.  Residents of Ft Collins have to be glad that we are not one of those “crazy” markets….we are slow and steady wins the race.  We won’t ever get much more than 5% appreciation per year, but we also don’t really get the depreciation either.  A lot of my sellers have taken their homes off the market for the holidays which is a common occurance every year around this time.  I am recommending to them that if they still want to sell, to get ready to re-list on February 1st.  This will beat out a lot of other sellers that wait until March or beyond, and there are buyers out there to be had, and as long as the home is priced well and shows well, it WILL sell!  If you have any questions about any of this, or if you want to know the value of your home in the current market, please contact me and I will assist you however you need.  ben_blonder@yahoo.com, or my cell 970-420-6166.  Read on!

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