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Hugs & Kisses, Dragons Blood, Salty Tear, Magic Potion, Grandma’s Sweater, Potentially Purple, & Frozen in Time.

Believe it or not, these are all different type of paint colors.  No wonder when it comes time to choose a paint color, we diligently head to the paint store, grab a paint wheel to studiously review, see the insane number of selections and…..cue eyes glazing over and brain shutting  down.  With colors like Potentially Purple, can you blame a complete brain freeze?  Is that color purple….potentially.

Here are a few links to hopefully make the painting process a tad easier.

Benjamin Moore’s 2015 Color of the Year-  Guilford Green
“A neutral that’s natural. A silvery green that works with, well, everything. No worries. No second thoughts. Just a brush, dipped in a can, whooshed on a wall, and a whole lot of happily ever after.”   –Ellen O’Neill, Creative Director, Benjamin Moore With a description like that, no wonder it is the 2015 color of the year.  Makes me want to jump into a pool of Guilford Green and live happily ever after bathed in Guilford Green from head to toe.
http://www.benjaminmoore.com/en-us/for-your-home/benjamin-moore-color-trends-2015

Selling a Home? How to Stage Your Home with Color
Painting is a low cost way to visually enhance your home, freshen up the home’s look both inside and outside and make it appealing for a Buyer to walk through. On the other hand, rooms that have very
BOLD colors can be a turn off to Buyers, make some areas such as bathrooms seem smaller than they already are and potentially cost the Sellers thousands of dollars in a lower sales price as I find most Buyers are looking for a home that is nice and move in ready rather than a home that comes with a honey doo list right from the get go.  The following link has some nice tips as well as a 30 minute webinar that is worth a listen when the time comes to paint.
http://www.benjaminmoore.com/en-us/for-your-home/how-to-stage-your-home-with-color

Color Visualizer
A nice website that I have used in the past that can help you see how colors might look is found at Sherman Williams.  They have a color visualizer where you can upload your own photo (never have tried this) or choose pictures from various rooms of the house like a bedroom, kitchen…and then choosing a color, dragging it onto the wall and seeing how it looks.  Fun to play around with to at least narrow down your selection.  Use the link below and then click on the “Launch Color Visualizer” tab which can be found in the middle of the page just a short way down.
http://www.sherwin-williams.com/homeowners/color/try-on-colors/color-visualizer/

Good luck & happy painting from Dream Home Real Estate.

As always, please feel free to call me for any of your real estate needs.
Dream Home Real Estate
Matt Eilers
C#970-445-8227
MattEilers@aol.com

 

 

 

 

 

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Have you ever wondered the breakdown of what goes into building a new home?
The National Association of Builders, NAHB, earlier this year released the results of a survey from 2013 that broke down the various costs that go into new home construction.

Here are the results of where the final home’s sales price goes to (this is a national average):
62%- Construction Costs
19%- Finished Lot Costs
9.3%- Builder Profits
4%- Overhead and general expenses
4%- Sales Commissions
1%- Financing Costs
1%- Marketing Costs

Here is the breakdown of where the Construction Costs went:
29.3%- Interior Finishes
19.1%- Framing
14.4%- Exterior Finishes
13.4%- Major System Rough-ins
9.5%- Foundations
6.8%- Site Work
6.6%- Final Steps
0.9%- Other Costs

To read more on this, click or copy & paste: http://www.nahb.org/generic.aspx?sectionID=734&genericContentID=221388&channelID=311

Looking to see what is on the market in new home construction?  Please e-mail or call me and I would be happy to send you over options in your area.
Matt Eilers
MattEilers@aol.com
970-445-8227

 

 

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Brrrrrrrr!!  Starting to get cold outside.   Ski resorts are starting to open & Vail Pass had it’s 1st closure due to snow…so whether we are ready or not, winter is here.  Let’s take a look at the 1st 10 months (Jan. 1-Oct. 31) of 2014 and compare to 2013 to get an idea on how the market is doing.

OVERALL- Single Family Homes *Using areas: Fruita, North, Redlands, GJ City, NE, SE, Clifton, Orchard Mesa

  Single Family Homes  
Overall 2014 2013 % Change
# of Sales 1893 1868 1.34%
Med. Sales Price $185,000 $179,900 2.83%
Avg. Sales Price $213,183 $201,455 5.82%
Med. DOM 90 83.5 -7.78%
Avg. DOM 118 109 -8.26%
Avg SP/LP 97.47% 97.72% -0.25%

Thoughts: # of sales is basically about the same.  Prices are up 3-5.5%.  One item to keep an eye on is the Days on Market (DOM) did regress in 2014 by roughly a week.

3 Bdrm Single Family Homes Comparison    
 

2014

2013

2014

2013

Area

# of Sales

# of Sales

Med. Sales Price

Med. Sales Price

Redlands

115

123

$270,000

$280,000

North

182

131

$229,750

$239,000

Fruita

161

141

$192,500

$197,000

GJ City

129

138

$153,000

$153,430

NE

169

177

$169,000

$159,500

SE

159

174

$149,780

$140,000

Orchard Mesa

144

164

$167,500

$149,450

Clifton

98

91

$126,575

$106,000

 

 

2014

2013

Area

Avg. Sales Price

Avg. Sales Price

Redlands

$330,487

$301,800

North

$246,026

$248,915

Fruita

$207,588

$203,864

GJ City

$156,690

$144,255

NE

$166,124

$159,245

SE

$138,335

$132,006

Orchard Mesa

$178,372

$156,234

Clifton

$115,212

$102,836


 

2014

2013

2014

2013

Area

Avg DOM

Avg DOM

Med. DOM

Med.DOM

Redlands

128

115

110

81

North

112

113

100

87

Fruita

127

112

94

90

GJ City

113

108

86

76.5

NE

111

98

86

78

SE

119

94

90

69.5

Orchard Mesa

106

106

79

67.5

Clifton

107

109

78

84

Thoughts:  It appears that the Median & Average Sales Price in 2014 both rose in the areas where prices tended to be under $200K.  Although in areas that were +$200K such as Fruita, Redlands & North areas, this did not hold.  Another item to watch in 2015 is how the Days On Market which increased in 2014 vs 2013 affects the real estate market.

 

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We have all heard the phrase “cash is king”.  Various shows imply that cash talks and the inference is a discount is available if you are an all cash buyer.   Is that so?

How much do you think using all cash for a purchase might save you in negotiations with a Seller vs having to get a loan and negotiating with a Seller?

Let’s look at the numbers to find our answer.

We will be using Grand Junction single family home sales for 2013 with data from the Mesa County MLS.
*Areas used were: Redlands, North, GJ City, NE, SE, Orchard Mesa, Fruita, Clifton & Palisade

Using these parameters, here were the number of sales:
Cash- 562 Sales
Conventional: 850 Sales
FHA- 538 Sales

Now we will look at the Average Sales Price to List Price ratio (SP/LP).  This will show us how much the Buyer percentage wise was able to bring the final sales price down from the list price.
Cash- 96.46%  (in essence, an all cash buyer was able to bring the sales price down ~3.5% from the list price)
Conventional- 97.60%
FHA- 98.64%

If you were a Buyer and an all cash buyer, you did save yourself money versus a Buyer whom had to obtain financing to purchase.  Cash beat a conventional loan by ~1.1% or $1100 for every $100K purchase.  Cash beat a FHA loan by ~2.2% or $2200 for every $100K.

How did your guess match up?  Did you think using all cash would create a bigger discount?

 

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The following is some of the highlights taken from the Colorado Business Review put out by University of Colorado Boulder Leeds School of Business.  For the full report, please see this link: http://origin.library.constantcontact.com/download/get/file/1102612802506-67/CBR+2014+Issue+3.pdf

Items from the report:
*Colorado’s GDP grew by 3.8% as compared with the nation which had 1.9%.
*Colorado is recording faster growth rate, personal income, and home prices
*revised numbers now predicting a net gain of 68,000 jobs in Colorado for 2014
*In 2013, Colorado was the 4th fastest growing state in terms of population growth and ranked 5th in absolute change.
*Colorado’s unemployment rate was 5.8%
*DIA is the 5th busiest airport in the nation
*Colorado’s ski industry experienced a record breaking year in 2013-14 with 12.6 million skier visits up 10% from the previous ski season.
*Real Estate, Rental & Leasing grew 1.4% year over year indicating growth in the housing industry.
*Recent drought conditions have spurred the growth of tumbleweeds, so much so that several counties have declared a state of emergency
*The state’s drought condition is dramatically better than 2013.  Topsoil moisture and subsoil moisture are generally adequate on 50% of farm acres which is better than 2013 when adequate subsoil moisture fell below 23% of farm acres.
*Pasture and range conditions indicate a 39% of acres are in poor to very poor condition, an improvement vs 2013
*Oil & natural gas wells have continued to grow in production, coal has suffered a steep decline.
*Construction employment has grown 8% year over year
*Colorado’s top export markets in order are Canada, Mexico, China, & Japan

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                                                                                                                                                                                                              July 9, 2014
Today, we will look at the area in Grand Junction known as Grand Junction City.  Very generally speaking, this is the area bounded by Patterson, Hwy 6 & 50 and around 1st out to 29 1/2 Rd.

This area is known for being home to Colorado Mesa University, St. Mary’s Hospital, Lincoln Park & historic Main Street.
Homes generally tend to be older versus some other areas around town with rancher or rancher with basement style build.

Grand Junction   City 2013 2012 2011 2010 2009 2008
# of Sales 295 284 233 179 213 126
Median Sales Price $141,901 $134,288 $124,625 $147,806 $169,000 $189,900
Average Sales Price $140,000 $135,950 $120,000 $145,000 $175,040 $198,568
Median DOM 77 78 93 96 82 74
Median SP/LP % 97.42% 98.69% 96.27% 96.93% 96.81% 98.11%

* Numbers are using sales as reported on Mesa County MLS
Median DOM-  Median Days On Market
Median SP/LP %- Median Sold Price/List Price as a percentage

Quick Analysis:
In this small 6 year look at Grand Junction City Real Estate, the height of the market was back in 2008 with average and median sales prices just a tad under $200,000.   2008 also corresponded to the height of the job market in the overall Grand Junction pre-recession employment figures.  Since then, Grand Junction lost ~11% of jobs and is expected to return to pre-recession employment in the 2nd Quarter of 2017. For this article, see: http://gjdreamhome.com/grand-junction-jobs-outlook/

Grand Junction City had a steep 3 year loss from 2008 with regard to sales price.  The average sales price in 2011 dropped to $120,000 which was a -39.6% change from the 2008 highs.

Days On Market:  As you can see, the median days on market has remained relatively unchanged.  The Days On Market INCLUDES time when the property is under contract.  Assuming that once a property goes under contract it takes ~30-45 days to close, the median amount of time that a home would go under contract would be 1.5-2 months.

Grand Junction City 2014 Sold Info from Jan. 1-June 30, 2014
-Sales: 122 sales.  In 2013 for the same time period, there was 163 sales.
-Median Sales Price: $142,500
-Average Sales Price: $151,854
-Median Days On Market; 84
-Median Sold Price/List Price %: 97.11%

Grand Junction City:   Currently On the Market
*As of today, there are 126 homes on the market.  *
*The Median List Price is $168,000
*Average List Price is $181,852
*Median Price Per Square Foot: $111.51

If you would like to view any homes in this area, please give me a call.
Buying?  Check out my Buyers Checklist at: http://gjdreamhome.com/ultimate-buyers-checklist/

Follow me on Facebook at Grand Junction Dream Home Real Estate

 

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Summer is heating up.  Kids are out of school, families are out and about hiking, swimming and having a backyard BBQ.
Summer typically across the US is also the time for people to move.

Let’s check to see if this holds true if you were buying/selling a larger acreage property or a farm in the Grand Junction/Fruita/Loma/Mack/Palisade area.

For this, I have run a 2 year cycle going between June 1, 2012 and May 31, 2014 looking at when properties sold.  The properties that were looked at were homes that sat on anywhere between 3-20 acres.

Falling is a chart of when homes Sold by month.

Jan 9 5.56%
Feb 10 6.17%
March 10 6.17%
April 13 8.02%
May 23 14.20%
June 20 12.35%
July 19 11.73%
Aug 14 8.64%
Sept 13 8.02%
Oct 10 6.17%
Nov 11 6.79%
Dec. 10 6.17%

Something to keep in mind with the above information is this is the month in which they sold NOT when they went under contract.
Let’s assume that they went under contract ~30-45 days prior to closing.  Therefore, if we take a look at the largest time to buy/sell, it would appear that it would be in the late March-mid June area as this is when these larger acreage properties went under contract.
The rest of the year is fairly even but no other 3 months period rivals this time for when properties go under contract.

Thinking of buying/selling a larger acreage property or farm in the Grand Junction, Fruita, Palisade, Loma, or Mack area?
Please give me a call.  Matt Eilers- 970-445-8227 or e-mail at MattEilers@aol.com

 

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Today, we will take a quick look at sales of single family homes in various areas around Mesa County and see how the sales of single family homes has faired so far this year versus prior years.  The date range that will be looked at will be from Jan. 1-May 31st.

Area 2014 2013 2012
Redlands 93 113 115
North 140 96 114
Fruita 131 104 132
Orchard Mesa 92 123 90
Palisade 18 24 20

Again, the above represents the number of sales of single family homes from Jan. 1-May 31st of each area from 2012-2014.

Now, let’s see what the median sales price was for these sales in these areas.

Area 2014 2013 2012
Redlands $295,000 $317,311 $260,000
North $239,500 $233,450 $240,000
Fruita $219,000 $217,250 $199,950
Orchard Mesa $165,950 $156,000 $137,500

 

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Summer is here!!  Kids are out of school and the temperatures are warming up…what to do?
Grab the kids & head to the Grand Junction Splash Pad on Main St. & 5th to let the kids play and cool off.

Hours of operation:
Weekends: 10am-10pm
Mon-Fri: 10am-11am; 12-1:30pm, 2:30pm-3:30pm & 4:30-10pm

Enjoy.

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Fruita Single Family Home Sales

2013

2014

# of Sales

95

104

Median Sales Price

$220,000

$215,370

Average Sales Price

$220,297

$238,297

Median Days On Market

112

120

*The period looked at is Jan. 1-May 15th for each year

The above is a quick look at some real estate sales statistics for Fruita, CO comparing 2014 to 2013.

# of sales is up 9.47%.

Median Days on Market has remained about the same more or less.

Sales Price- Average sales price is up +8.17% while median sales price is down -2.1%

Positive take from this is sales are up which should continue to remove inventory from the market.  If this trend continues, then price should follow the same trend with an upward movement.  Supply & Demand…as the supply decreases and the demand increases, then value increases as well.

Have a home to sell?
Call me to get an in-depth analysis of what your home might sell for in today’s market

Thinking of Buying?
Please e-mail me your search parameters and I can e-mail you back what best matches what you are looking for.  Stop going to site after site trying to find what is available.  Put me to work for you.  I am honest, friend and NO pressure whatsoever.

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