First Time Home Buyer in Northern Colorado, CO
a guide for first time home buyer
Northern Colorado, CO
featuring guidance from Bob Sprague
WELCOME TO NORTHERN COLORADO
Northern Colorado is located in the northern region of the state and encompasses cities such as Fort Collins, Loveland, and Greeley. It is known for its breathtaking natural beauty, with access to outdoor recreation opportunities in the nearby Rocky Mountains.The area has a thriving job market, with industries like technology, healthcare, and manufacturing leading the way. Northern Colorado is home to several top-rated schools and universities, making it a great place for families and students. The cost of living in Northern Colorado is more affordable compared to other cities along the Front Range. The region boasts a strong sense of community and a vibrant arts and cultural scene, with numerous events and activities to enjoy.
VALUABLE GUIDANCE FOR HOME BUYERS
Trends in the Northern Colorado Real Estate Market
The Northern Colorado Real Estate Market is still hot. While the interest rate increase in the last half of 2022 slowed the rise in home prices the demand remains high. Home Sellers and Buyers still move for the same reasons as before. Home sellers are still affected by job changes, the size of family i.e. need for larger or smaller home, the desire to move closer to family or simply a change in climate or the need for a cost of living change. Home buyers have similar reasons. First time home buyers make their first home purchase in order to begin on the path to a foothold towards future wealth followed by bigger and better homes and investments. Other buyers chose to move up or down in home size or location due to family size, job change, convenience to the amenities a rural environment provide or to do the opposite and get out into the country for a little elbow room. Northern Colorado is a great place to live and the market will continue to thrive. I feel this market will stay strong even if the rest of the country slows. Don’t be afraid to buy, you will see a return on your investment should you decide to sell and buy again in the future.
The Northern Colorado Real Estate Market is still hot. While the interest rate increase in the last half of 2022 slowed the rise in home prices the demand remains high. Home Sellers and Buyers still move for the same reasons as before. Home sellers are still affected by job changes, the size of family i.e. need for larger or smaller home, the desire to move closer to family or simply a change in climate or the need for a cost of living change. Home buyers have similar reasons. First time home buyers make their first home purchase in order to begin on the path to a foothold towards future wealth followed by bigger and better homes and investments. Other buyers chose to move up or down in home size or location due to family size, job change, convenience to the amenities a rural environment provide or to do the opposite and get out into the country for a little elbow room. Northern Colorado is a great place to live and the market will continue to thrive. I feel this market will stay strong even if the rest of the country slows. Don’t be afraid to buy, you will see a return on your investment should you decide to sell and buy again in the future.
Tips for First Time Home Buyers in Northern Colorado and surrounding counties
Make sure the licensed agent you chose is a “Realtor”. A Realtor belongs to the local, state and National Board of Realtors and subscribes to the code of ethics. A Realtor puts you first. Not all licensed agents are “Realtors”. This is as important as finding a full-time agent.
Find a Full-time Real Estate Broker with experience that enjoys working with First Time Home Buyers. This is where your research will pay off. The last thing a first time home buyer needs is an inexperienced broker who has never sold a home before or maybe sells one per year. Your biggest investment needs to be cared for by someone you can trust. The national average for licensed brokers is about 1.5 sales per year. This includes the majority who don’t sell any, or 1 or 2 a year. As in most industries, the top 20% do 80% of the business.
Make sure the licensed agent you chose is a “Realtor”. A Realtor belongs to the local, state and National Board of Realtors and subscribes to the code of ethics. A Realtor puts you first. Not all licensed agents are “Realtors”. This is as important as finding a full-time agent.
Beware of Commercial Home Search Websites like Zillow, Realtor.com Trulia etc. Have your agent set you up with a personalized home search website connected directly to the local MLS. These sites are much more accurate, up to date and regulated than commercial sites like Zillow or Realtor.com etc. The commercial sites are paid for primarily by trying to hook you into asking for more information and selling your information to other agents, most of whom are brand new with no experience. These new agents get charged a hundred dollars or more every time you click that you want more information from an agent. Then you can expect to be called, emailed, and texted by someone you have net researched and vetted. Not fun.
Use your experienced Realtor. Ask questions, find out what to expect and exactly what you need to do. Ask for the DORA three on any referral. (DORA, the Department of Regulatory Agencies requires that we give at least three referral choices for any vendor type; i.e. mortgage lender, insurance agent, home inspector, etc.) Your chosen experienced Realtor should have a good list of people they have worked with and trust. Then trust them to guide you from the beginning of the sale to the end and beyond.
Have fun, plan your move, and work through the process step by step. Do not withhold stress from your Realtor. Vent and ask questions. Chances are there is an easy solution.
Use your experienced Realtor. Ask questions, find out what to expect and exactly what you need to do. Ask for the DORA three on any referral. (DORA, the Department of Regulatory Agencies requires that we give at least three referral choices for any vendor type; i.e. mortgage lender, insurance agent, home inspector, etc.) Your chosen experienced Realtor should have a good list of people they have worked with and trust. Then trust them to guide you from the beginning of the sale to the end and beyond.
Find a Full-time Real Estate Broker with experience that enjoys working with First Time Home Buyers. This is where your research will pay off. The last thing a first time home buyer needs is an inexperienced broker who has never sold a home before or maybe sells one per year. Your biggest investment needs to be cared for by someone you can trust. The national average for licensed brokers is about 1.5 sales per year. This includes the majority who don’t sell any, or 1 or 2 a year. As in most industries, the top 20% do 80% of the business.
Beware of Commercial Home Search Websites like Zillow, Realtor.com Trulia etc. Have your agent set you up with a personalized home search website connected directly to the local MLS. These sites are much more accurate, up to date and regulated than commercial sites like Zillow or Realtor.com etc. The commercial sites are paid for primarily by trying to hook you into asking for more information and selling your information to other agents, most of whom are brand new with no experience. These new agents get charged a hundred dollars or more every time you click that you want more information from an agent. Then you can expect to be called, emailed, and texted by someone you have net researched and vetted. Not fun.
Have fun, plan your move, and work through the process step by step. Do not withhold stress from your Realtor. Vent and ask questions. Chances are there is an easy solution.
