December 2014 Market Update for Vista Ridge

As your local 8z REALTOR and market expert, it is my pleasure to recap data and provide this market update for Erie’s Vista Ridge neighborhood. Tune in each month for updated information about one of life’s biggest investments: your home. Or even better, have it delivered right to your Inbox:

 

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Like the Fireworks coming from the Colorado National Golf Course at their yearly Holiday party, the market of Vista Ridge is booming! In the last month alone, we have seen 13 properties sold, two of them being Condominiums in the Blue Sky Community, and 11 Single Family Homes throughout the community.

 

The condominiums are going for an average of $187,500, which puts them at a reasonable $147 per square foot. This is one dollar less than the average in the month of October, which was at $148; however, unlike last month where Blue Sky was under the market average, this month the Vista Ridge average has dropped to $133 dollars. This is likely due to the decreasing availability of Blue Sky Condos in the area, and the overabundance of similarly priced and valued homes in the area.

 

As for the single family homes, we saw homes from $312,000 to $525,000 and one home at $912,000 sell to new owners this month. Vista Ridge has a booming market in the mid 300’s to the 500’s with the majority of the market in this range; the market for $600,000+ is still strong, albeit smaller than the large selection of $300’s to $500’s. With so many homes in this range on the market, the price is going down overall, with a large supply of comparable homes; this is reflected in the lower price per square foot of $133, which is $19 less than last months $152.

 

The Vista Ridge Community is looking very strong with a lot of growth in the area, and increasing home values nearly across the board. We are quite the buyers’ market with such a large selection of homes, which will likely lead to an influx of people into the area as the Lafayette and Louisville markets are lacking in inventory. If you were interested in moving into the Vista Ridge area, now is the time!

 

The average days to contract for November was 47 days.

The average days to contract for November was 47 days.

 

There were 10 New listings in the month of November:

 

Attached Dwelling Listings

 

Address Price Bed Sq Ft
1435 Blue Sky Way 8-103 * $167,000 2 1,156

*Listed by 8z Real Estate 

Residential-Detached Listings

 

Address Price Bed Sq Ft
1420 Hickory Dr $362,000 4 1,420
2169 Lupine Pl $368,995 4 2,169
1870 Alpine Dr $485,000 5 1,870
2479 Vale Way $495,000 4 2,479
2057 Pinon Pl $550,000 4 2,057
2497 Vale Way $598,000 4 2,497
2436 Reserve St $648,870 2 2,436
2332 Links Pl $1,399,000 4 2,332

 

There were 13 listings that sold in the month of November:
Attached Dwelling Listings

Address Price Bed Sq Ft
1435 Blue Sky Way 8-301 $185,000 2 1,435
1495 Blue Sky Way 9-301 $190,000 2 1,495
2041 Heritage Pl $510,000 3 2,041

 

Residential-Detached Listings

 

Address Price Bed Sq Ft
2629 Wisteria Dr $312,500 3 2,629
2303 Dogwood Dr $324,900 3 2,303
2074 Tundra Cir $325,000 3 2,074
2066 Tundra Cir $330,000 3 2,066
2452 Ivy Way $335,000 4 2,452
1899 Alpine Dr $380,000 4 1,899
1356 Catalpa Pl $437,500 3 1,356
2264 Dogwood Dr $470,000 3 2,264
1467 Eagleview Pl $525,000 5 1,467
2414 Links Pl $912,500 4 2,414

 

With the inventory so high in Erie, people looking to live in Lafayette and Louisville will likely take a peek and see what the community just a few minutes away has to offer. The inventory won’t remain this high forever.

 

At this time I would consider listing, as the market is still very solid, but I would be aware that perhaps in a few months, the inventory will be reduced and you may fetch a higher value for your home.

 

Call me if you need any assistance in Vista Ridge or elsewhere in Erie. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the community. You can always reach me at 720.299.4744 or john.mcconnell@8z.com.

Infographic: December 2014 Market Update for Lower Highlands

Lower Highlands - Denver, real estate infographic

 

Lower Highlands continues to be one of the most desirable neighborhoods in Denver. As 2014 comes to a close, so do numerous new construction projects in the area. Projects that began last Spring will be delivered over the next few months bringing a new wave of residents into the area, increased support for local businesses there, and continued community development.

 

16 new listings came on the market in November, ranging from $265,000 to $989,000. Of these listings, 163 are new construction that is yet to be completed. This is a great representation of what we have been seeing in the Lower Highlands market, with a large number of new builds to be delivered in 2015. Price per square foot in this neighborhood is on the rise as well. From scrapes to high end new construction, the average price per above grade square foot is well over $260.

 

While the sales of single-family homes have increased each of the last three months, the number of condos or townhomes sold have moved in the opposite direction. In the next few months, I would predict that the number of townhomes sold will outnumber single-family homes sold as the new builds are delivered. In line with that point, the average number of days on market is likely to decrease as well, when fewer listings are on the market or under contract for up to a year as construction takes place.

 

Prices in Lower Highlands continue upward as several high-end new construction projects come to fruition. Prices above 800,000 are becoming more common in the area and listings below 350,000 become more rare.

 

While inventory remains low, and buyers continue to search for the right home, this is a great time to list in Lower Highlands.

Infographic: December 2014 Market Update for Old Town Louisville

 

Old Town Louisville real estate infographic

 

If you don’t count the new builds (710-760 Hutchinson) and the 2 Parbois Place townhomes (954, 962 W Elm), there were 2 new listings in Old Town Louisville. Which shows the typical slow down for the season, but the inventory is definitely low.

 

Active Listings

 

Address Price BD BA SqFt DOM/CDOM
954 W Elm St #4 $479,000 2 3 1613 183/183
962 W Elm St #5 $515,000 3 3 1799 162/162
1316 Grant Ave $550,000 3 2 2190 36/36
1147 La Farge Ave $359,000 2 1 982 22/22
750 Hutchinson St $899,900 4 4 3304 46/46
710 Hutchinson St $919,900 4 4 3856 46/46
760 Hutchinson St $899,900 5 4 3856 46/46
740 Hutchinson St $899,900 5 4 3831 46/46

 

Of the new listings 2 are new build attached homes at Parbois Place, and 5 of the other listings are new builds called Hutchinson Corner. 1147 La Farge (see my review) is priced a bit high and I don’t see it selling at the current list price. 1316 Grant is also priced too high and is what I would consider a scrape. Both have good locations, but the price doesn’t reflect what the buyers in this market are looking for. Square footage and price need to reflect the current market conditions which are closer to $220 per sq ft.

 

Sold

 

Address Price BD BA SqFt DOM/CDOM
612 Lincoln Ave $1,165,000 5 4 4413 131/131
566 Juniper Ct $378,000 3 2 1478 11/11
1605 Jefferson Ave $430,000 4 2 2436 31/31

 

Old Town Louisville still has very little available and that trend is going to continue until spring. Many of the properties that haven’t sold, the data shows that buyers are looking for a fair price and that no matter where the home is located it should be appropriately priced. Buyers aren’t simply going to buy a home in Old Town at any price and that the value still has to be present to make a purchase.

 

I believe that the demand for homes in Old Town is still present as is shown by the average sales price of homes and the average price per square foot remaining . I also think that if there were updated homes available at a fair market value that buyers are looking for those opportunities to purchase, but with the very low inventory

 

We will continue to see low inventory in the following months. You will also continue to see the smaller homes being scraped and bigger more modern homes being built. There is a demand for larger homes in Old Town and people want to live here because of the overall community.

 

If you are considering selling at this time of year, make sure you are priced appropriately and that you home is “model home” perfect!

 

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Please call me if you need any assistance in the Old Town Louisville neighborhood or elsewhere in Louisville. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the neighborhood. You can always reach me at 303.579.8317 or jessica@8z.com.

Infographic: December 2014 Market Update for Pinery Pulse

 

Pinery & Timbers - Parker, real estate infographic

 

Tis the season to…..sell!!  The Pinery/Timbers market is still strong. We do have new competition with the new KB Home Development; however, they are offering a very unique product to this area. We currently have the following inventory:

 

The Pinery:

  • Active Listings:  15 –$194/square foot, Days on Market 90
  • Under Contract:  6 –$163/square foot, Days on Market 30
  • Solds: Nov. 1 – today  16–$182/square foot, Days on Market 65

 

The Timbers:

  • Active Listings:  15 — $272/square foot, Days on Market 88
  • Under Contract:  2 — $232/square foot, Days on Market 128
  • Solds: Nov 1 – today 7– $264/square foot, Days on Market 104

 

The activity is still for sellers and the amount of under contracts/solds are showing that there are still active buyers in the market. For KB Homes, they are offering a variety of ranch floor plans and low maintenance lifestyles. They currently have three of their homes under contract and four that are available for quick close. The prices range $325-$450K, depending on what is spent in the design center.  They are really doing a nice job with this development and it will be attractive to the Pinery homeowner that wants to downsize or go into a ranch floor plan.

 

Happy Holidays!!

 

Please call me if you need any assistance in The Pinery, The Timbers or any other neighborhood in Parker. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the neighborhood. You can always reach me at 720.253.4954 or Julie@8z.com.

512 Larkbunting Dr., Fort Collins : A Done Deal in Larkborough

512 Larkbunting Dr. , Fort Collins, CO 80526 was just evaluated in the Larkborough neighborhood in Fort Collins. Was this a good deal? Our 8z Neighborhood Expert, Brandon Bidwell, knows and dishes the scoop on this recently sold home.

IMG_20140513_131116_522

Listed at: $285,000
Sold for: $285,000

 

The property at 512 Larkbunting Dr. was:

Originally listed on May 12 for $295,000.
After 60 days on the market without a contract the owners decided to reduce the price to $285,000.
Another 88 days went by after the price adjustment and on October 7th this house went under contract.
On November 19th this home closed at $285,000 with the seller paying $4,000 towards the buyers closing cost.

 

It took a while to find the new owner of this home (192 days to be exact).

 

The average days on market for homes in the Troutman Park area so far this year is 46.

 

The reasons that it took so much longer for 512 Larkbunting to sell are:

1. With all the additions to this house and the lack of a garage it took a very particular buyer to find use for all 3,500 square feet.
2. There was a lot of remodeling that most buyers would want to have done to update this place and the size of this house made that a very significant project.
3. With Larkborough’s average sales price of $236,392 in 2014 this property was significantly over priced when it was listed at $295,000.

 

Need a market expert’s assistance? To see homes in the area contact 8z Realtor, Brandon Bidwell, at (970) 215-1573 or bidwell@8z.com.

 

Have you viewed the home above? Do you agree with Brandon Bidwell? Let us know! Please feel free to submit your comments below.

 

Holiday Fireworks!

The yearly Holiday Party at the Colorado National Gold Course was last night!

IMG_20141218_211943

Many residents were startled at the sudden eruption of explosions that shook their homes, but many others were prepared to watch this yearly tradition!

IMG_20141218_212207

Feel free to post any pictures of this awesome event our community shares together!

2349 Norfolk Street, Erie: A Vista Ridge Review

2349 Norfolk Street was reviewed over the past few days in Vista Ridge neighborhood of Erie. Read below to find out more about John McConnell’s take on this home!

IMG_20141215_145506

The Specs:

Address: 2349 Norfolk Street, Erie, Colorado 80516
Price: $459,000
Bedrooms: 5
Bathrooms: 5
Location: Vista Ridge

 

The Scoop:

A Review of 2349 Norfolk Street, Erie
Today we are reviewing 2349 Norfolk: a five bed, five bath, two car, two-story home in Vista Ridge, with 4668 total square feet at a price of $459,000.

 
This was a home I was so excited to see when it hit the market; it has a beautiful exterior appearance with an attractive coat of blue paint, a grand stone arch entryway, a well-kept lawn, and a ton of space. I had to take a look.

IMG_20141215_144535
But much to my dismay, upon entering the house my expectations were dashed. Immediately upon entering, the house feels… dated…which is strange for a home built in 2004. Perhaps the sub-par staging had a lot to do with the overall feel of the home, but there were many established features of the home that contributed. The kitchen was stocked with older appliances, and the counters were made of stone tile; lots of 5 inch squares with a lot of grout to clean and scrub after every meal. There were several rooms throughout the house that made very little sense in how they were laid out, making potential owners come up with a reason to use the room, with no apparent use.

 
There are bright spots in the home however: the basement is fully finished, making the house a colossal 4500 square feet, and the master suite is quite fantastic. It has huge windows, vaulted ceilings, and an excellent five piece bathroom; it is truly the star of the home.

IMG_20141215_145255
Overall the home was fine…which isn’t necessarily a good thing. It lacks something that makes it stand out from the rest of the neighborhood besides the awesome front curb appeal, for once you enter, the home feels bland, and unwieldy. The saving grace is that it has a wonderful master suite, and it fits a good price per square foot (100$) which is lower than the neighborhood average. With a little updating to the spacious kitchen, as well as some minor updates throughout, this home could definitely something special.

 

The Score:

Below are my overall ratings for 2349 Norfolk Street, Erie, Colorado 80516:

Layout/Floor Plan - 2 stars
Finishes - 3 stars
Condition - 4 stars
Curb Appeal/Landscaping - 5 stars
Neighborhood/Outdoor Amenities - 4 stars
Overall Value - 3 stars

 

The listing office for this property is MB Thompson Daviau Realty. For additional photos, a list of inclusions and the details on the home’s design features, click here to visit the property’s profile on 8z.com: 2349 Norfolk Street, Erie, Colorado 80516.

 

Want to chat with a market expert? Would you like speak about Vista Ridge and see the current inventory or prep for your home to list in the future? Feel free to contact 8z Realtor John McConnell at 7202994744 or john.mcconnell@8z.com.

 

Have you viewed the home above? Do you agree with my listing review? Let me know in your comments below!

 

Giving thanks

As I reflect on 2014 in my community there are many things that I am thankful for.

 

The first thing that comes to mind is the new recreation center that will be built, It will be so nice to have that in the community and it has been something we’ve needed for so long! I am also thankful for all of those in my community that donated warm coats and accessories for our “One Warm Coat” campaign this fall. Eaton is a community of great people that care for others, and that was shown through your kind and generous donations. I am also thankful for the continued growth in our community that brings new people, new businesses and new homes in our area. It’s awesome to see it thrive!

 

I am so blessed and so thankful to be part of such a wonderful community and I’m excited for 2015 and what it will bring to the Town of Eaton!

Renaissance Shopping Center

It looks like development for the Renaissance Shopping Center, which is to be built at the Southwest corner of Airport Rd. and Crimson Clover Dr., is starting to happen.

 

Yesterday, I noticed a sign posted stating that the development application is currently under review. There was also a crew drilling for soil samples. It will be interesting to follow the progress to see what the developer has planned. I know it is the only vacant lot currently zoned for retail in the immediate area. Southwest Longmont is one of the fastest growing areas in Boulder County.

 

Hopefully, this project will further enhance the community.

New Healthy Grocery Options

Exciting times in the Applewood area!

 

I have mentioned previously the King Soopers expanded and is now offering a great deal more choice for healthy eating, organic fruits and vegetables as well as supplements. It’s a good move for them because there’s a Sprouts coming to the Lakewood area near 38th and Kipling and a large Vitamin Cottage being built near I-70 and Kipling.

 

These are great options for our area as the current options are CROWDED! It’ll be great to have other choices soon!