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“We spent as little time as possible in the kitchen,” the homeowner says of the before.
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March 9, 2024
The Genius DIY That Made a Tiny Kitchen Functional for a Family of 7
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March 9, 2024
My “Black and White” Thrifting Rule Makes Secondhand Shopping So Much Easier
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March 9, 2024
Target’s $4 Fluted Glasses Are Joanna Gaines-Approved (You’ll Want Both Colors!)
The light green glass is a game-changer for your drinking glasses.
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March 9, 2024
Unlocking Fort Collins: Delve into the Dynamic Housing Market – Uncover Home Prices and Values Now
Fort Collins, a vibrant community in Northern Colorado, presents a dynamic housing market characterized by fluctuating home prices and values. Understanding these trends is crucial for both potential homebuyers and sellers to navigate the market effectively. The city’s real estate landscape is influenced by various factors, including economic conditions, inventory levels, and buyer demand, making it essential to stay informed about the latest market developments.
Fort Collins Average Home Price
The Fort Collins housing market has shown resilience despite economic fluctuations, with the average home price in Fort Collins witnessing subtle adjustments over time. In recent reports, homes in Fort Collins have sold for a median price of approximately $526K, reflecting a modest year-over-year increase. This figure underscores the market’s stability and the sustained interest in Fort Collins as a desirable place to live. The median sales price for single-family homes slightly decreased to $572,500, indicating a market adjustment and providing opportunities for buyers.
Housing Market Fort Collins: An Analysis
The Fort Collins housing market presents a nuanced landscape for potential buyers and sellers alike. As of early 2024, the market has witnessed a slight increase in home prices compared to the previous year, with homes selling for a median price of around $526K.
Homes in Fort Collins have been staying on the market longer, averaging 75 days before sale, which is an increase from the previous year’s average of 52 days. This suggests a slight cooling off from the previous year’s activity but still indicates a relatively active market with a total of 100 homes sold in January, an increase from 94 homes sold the same time last year.
Further analysis reveals a diverse range of housing options and price points within the Fort Collins market. Listings include properties ranging from $249,000 for a modest 2-bedroom home to $1,595,000 for a larger 6-bedroom property, showcasing the wide variety of options available to buyers.
The market has seen a variety of new listings, including both single-family homes and townhouse-condo properties, indicating a healthy level of inventory and choices for potential buyers. Despite fluctuations, the median sales price for single-family homes has seen a slight decrease, indicating a potentially more buyer-friendly market in some segments.
Fort Collins House Prices: A Closer Look
The diversity in Fort Collins’ housing options, ranging from single-family homes to condos and townhouses, caters to a wide spectrum of buyer preferences. The price range varies significantly, with recent listings showing homes available from the mid -$400s to over $1 million, demonstrating the market’s breadth. This variation in prices and property types allows Fort Collins to accommodate various budgets and lifestyle needs.
Fort Collins Home Values Trends
Home values in Fort Collins have been subject to appreciation, with the median home value reaching upwards of $594,173, highlighting the city’s high investment potential compared to both Colorado and national averages. Certain neighborhoods within Fort Collins exhibit more significant appreciation prices, offering lucrative opportunities for real estate investment.
Northern Colorado Housing Market Context
The housing market in Northern Colorado, including Fort Collins, is influenced by broader regional dynamics. Comparative analyses with surrounding areas reveal that Fort Collins maintains a competitive edge, with predictions for the future indicating a slight decline in home values, aligning with broader market adjustments. This insight is crucial for both buyers and sellers to understand the market’s direction and make informed decisions.
Is Now a Good Time to Buy?
The decision on whether now is a good time to buy a house is nuanced, reflecting a mix of market conditions, interest rates, and personal financial readiness. Current insights suggest that despite the challenges of a seller’s market, opportunities exist for buyers, particularly with recent shifts in mortgage rates and home supply.
Recent reports indicate a slight relief for potential homebuyers as mortgage rates have shown a decrease, making the prospect of buying a home more attractive compared to the peaks seen in the previous year. The National Association of Realtors (NAR) has noted a steady market with homes selling quickly, often within a month, especially for homes priced between $100,000 and $250,000. This rapid turnover highlights the ongoing demand and the competitive nature of the market, suggesting that prices might be at a favorable point for buyers considering entering the market now.
Moreover, the inventory of homes, while increasing slightly, remains tight, indicating a seller’s market. However, the increased supply could offer more options for buyers, even as homes continue to sell quickly. This dynamic underscores the importance of being financially prepared and possibly securing mortgage pre-approval to make competitive offers quickly. Buyers are encouraged to consider their long-term plans and assess whether they are ready for homeownership, factoring in their savings, income stability, and understanding of the market conditions.
Selling in the Fort Collins Market
For sellers in Fort Collins, the market dynamics offer a mixed bag of challenges and opportunities. While the average home price in Fort Collins remains competitive, strategic pricing and understanding market trends are key to capitalizing on the current demand. Employing strategies such as accurate pricing, staging, and leveraging the expertise of real estate professionals can enhance sellers’ chances of achieving favorable outcomes.
Future Outlook of Fort Collins Real Estate
The future outlook for the Fort Collins real estate market appears to be a blend of cautious optimism and the anticipation of moderate changes in home values. According to recent forecasts, the Fort Collins housing market is expected to see a gradual decline in home values, with projections indicating a -0.3% change by the end of 2023, deepening to -1.1% by February 2024, and reaching -2.6% by November 2024.
This suggests that the market might be shifting towards more buyer-friendly conditions, offering potential opportunities for those looking to purchase homes at competitive prices. The current situation is characterized by a stable average home value of $543,093 and an active market with homes spending an average of 34 days before going pending, indicating a steady demand.
Furthermore, analysis from Wallet Investor predicts that Fort Collins home prices may rise from their current average to $552,962 within a year, signaling long-term profit potential for investors despite the short-term decrease. The market dynamics are influenced by factors such as a strong rental market driven by demand from students, families, and young professionals, and stringent zoning regulations that limit the supply of rental units, contributing to high rental costs and low vacancy rates. This environment underscores Fort Collins’s appeal as a desirable location for both living and investing, with the city’s robust economy, exceptional schools, and vibrant culture playing a significant role in attracting residents and investors alike.
Conclusion
The Fort Collins housing market remains an intricate yet optimistic arena for both prospective homebuyers and sellers. With the average home price in Fort Collins mirroring the city’s allure and the dynamics of the broader Northern Colorado housing market, it’s evident that stakeholders are positioned well to make well-informed decisions. The surge in people relocating, as observed by Fort Collins movers, underscores a growing trend influenced by the housing market’s current state.
This movement indicates a significant interest and adjustment by individuals in response to the evolving market conditions. By delving into the latest trends, understanding the current market climate, and considering future forecasts, those involved in the Fort Collins real estate market can approach their investment and living decisions with enhanced clarity and strategic planning, ensuring a successful navigation through the complexities of real estate engagements.The post Unlocking Fort Collins: Delve into the Dynamic Housing Market – Uncover Home Prices and Values Now appeared first on RealtyBizNews: Real Estate Marketing & Beyond. | BidBuddy.com
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March 8, 2024
This 112-Year-Old Home’s Remodel Went in an Unexpected Direction
This older home’s recent remodel went the opposite of most renos: It actually added history back in!
READ MORE… | BidBuddy.com
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March 8, 2024
The $1 Dollar Tree Find You’ll Use on Every Shelf in Your Fridge (It’s Genius!)
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March 8, 2024
What To Do With Your Tax Refund: And 3 Things Not To Do
If you’re one of the 80% of taxpayers who will be receiving a tax refund this year, here’s what to do with your tax refund according to experts.
The average tax refund payment was more than $2,753, according to the IRS. That’s a lot of money that you can put to good use.
While you can probably imagine plenty of places to put your prized refund check today, you might not be thrilled with the choice tomorrow.
Rather than spend all of your money frivolously, why not use it to boost your bottom line?
Invest that money in one of the ideas listed below, and you can guarantee your future self with thank you. You may even have some fun along the way. Plus, make sure you check out the three things you should NOT do with your tax refund at the bottom of the article.
Here are some of the best ways to put your tax refund to good use this year:
How To Spend Your Tax Refund
1. Pay Off High Interest Debt2. Build Your Emergency Fund3. Open A High-Yield Savings Account4. Max Out Your Roth IRA5. Start Investing With A Robo-Advisor6. Apply Your Refund To Your Future Tax Bill7. Make A Principal-Only Extra Mortgage Payment8. Invest In Your Home9. Invest In Yourself10. Give It Away11. Have (a bit of) Fun3 Things To Avoid Doing With Your Tax Refund
1. Pay Off High Interest Debt
While it’s certainly not the most exciting option on this list, if you have credit card debt, paying it down (or off) when you get your tax return is one of the best financial moves you can make.
Free yourself from the shackles of high interest charges and kick at least a portion of that debt to the curb. It can also help boost your credit score, opening doors and securing your financial future.
It’s been said that action breeds confidence and courage—taking this first step towards knocking down your debt will help you move in a positive financial direction.
2. Build Your Emergency Fund
Your car broke down; your child got sick; the neighbor kids busted your window while playing baseball. Accidents happen all of the time so make sure you’re prepared for them!
You may not be able to plan exactly for every expense that will pop up, but you can expect the unexpected and prepare yourself for the worst. Unexpected expenses don’t have to destroy your finances.
You’d be amazed at how free you’ll feel once you have the peace of mind of knowing you’re ready for the random strikes that life throws your way.
That’s why using your tax refund to fill an emergency fund is a smart move!
3. Open A High-Yield Savings Account
If you are unsure of exactly how to spend your tax refund or you’d just like to stow it away for safekeeping (or for your emergency savings), an online savings account is the way to go.
Online banks are able to offer the most competitive rates out there because they don’t have branches to support. For that reason, you’ll find far higher interest rates with an online bank than a traditional one.
Whether you use the account to house your emergency fund, or just to establish some solid financial habits by putting money away in savings, you should absolutely consider online savings. See our list of the best online savings accounts, or this small selection here:
Bank Name
APY
Get Started
5.36%
OPEN AN ACCOUNT
At Western Alliance Bank, Member FDIC
5.25%
OPEN AN ACCOUNT
At AXOS Bank, Member FDIC
5.05%
OPEN AN ACCOUNT
At CIT Bank, Member FDIC
Bank Name
APY
OPEN AN ACCOUNT
At Western Alliance Bank, Member FDIC
5.36%
OPEN AN ACCOUNT
At AXOS Bank, Member FDIC
5.25%
OPEN AN ACCOUNT
At CIT Bank, Member FDIC
5.05%
4. Max Out Your Roth IRA
The value of a Roth IRA cannot be emphasized enough. A Roth IRA is funded with post-tax dollars, meaning your distributions won’t be taxed as long as you follow the rules. You also won’t be penalized for withdrawals.
Considering the amazing benefits Roth IRAs provide, if you qualify for one you should try your best to max it out every year.
However, even small amounts can do wonders over the long-term, so take that tax refund check and send over whatever you can!
Our top pick for a Roth IRA is Charles Schwab, where you can invest commission free!
5. Start Investing With A Robo-Advisor
If your debts are paid and your emergency fund is already stocked, have some fun with your refund by investing it with an online platform.
Whether you’re new to the investing game or have some trades under your belt, a robo-advisor can offer you simplified, affordable trading and resources.
Wealthfront is one of our top picks, as it offers dozens of customized portfolios and does all the work for you.
Wealthfront then automates your investments, rebalancing your allocations for you.
6. Apply Your Refund To Your Future Tax Bill
Are you self-employed? A freelance or contract worker? If you’re required to make estimated quarterly tax payments, you can apply your refund directly to those future obligations.
Doing so now will help to alleviate tax-related stress in the future. It will also help to free up future income for other financial goals.
Rather than letting these expenses catch you off guard, you can pay for them with your tax refund, relieving the financial burden and administrative task of working those costs into your budget down the line.
7. Make A Principal-Only Extra Mortgage Payment
If saving thousands of dollars in interest appeals to you, making additional payments to your mortgage, especially those that are principal-only, is the easiest way to do so other than paying off credit card debt.
Check to make sure your mortgage company doesn’t charge a pre-payment penalty. If they don’t, send that check (or make that online payment) today.
Every little bit of extra money you spend paying down the principal helps, potentially cutting months or even years off the length of your mortgage. Your tax refund is a great place to start expediting your mortgage repayment.
8. Invest In Your Home
Home improvements are a great way to boost your home’s value. Plus, if there’s a project you’ve been wanting to complete but haven’t had the money to do so, finally crossing it off your to-do list will increase your overall satisfaction.
Simple, inexpensive changes such as paint color, faucets, and light fixtures can make a world of difference. Additionally, if you challenge yourself to DIY these upgrades or repairs, you’ll expand your skill set while saving money.
9. Invest In Yourself
Never underestimate the option to invest in your health, education, or relationships. Investing in yourself has the potential for the highest return on investment.
From enrolling in foreign language courses to getting back into shape or rekindling that romantic spark, with a small investment in yourself, you can literally reap the benefits for years to come.
One of the best long term investments you can make is improving your marketability in the professional world. Whether it’s going back to school, seeking professional development opportunities, or honing your skills, you won’t regret putting money behind your professional goals.
10. Give It Away
One of the most rewarding ways to spend your tax refund money is to donate it to a cause you’re passionate about.
If you don’t have a particular organization in mind, a quick bit of research can provide you with tons of legitimate and worthwhile causes to donate to.
You’ll feel great knowing your money is making a difference in people’s lives, and as an added bonus, you’re preemptively working on next year’s tax season since your donation could be a deduction a year from now.
If you don’t know where to give it, you can even consider starting a Donor Advised Fund (DAF).
11. Have (a bit of) Fun
While it’s ideal to take care of the items above on this list in lieu of having fun, it’s not realistic. To avoid burnout or resentment, try allotting a small portion of your tax return to whatever new gadget you’ve been coveting, a nice meal out, or some other purchase that is for pure enjoyment.
While you shouldn’t invest your whole return into the fun and frivolous, you can wisely set aside some of it for your leisure. In other words, you can treat yourself without going overboard.
You’ll definitely not regret giving yourself a bit of a break as long as you’re still moving along well with your other financial goals.
3 Things To Avoid Doing With Your Tax Refund
We’ve to you what to do with your tax refund, now let’s talk about what NOT to do with your tax refund. We see these issues happen every year, and we really want you to avoid them!
Do Not Spend Your Tax Refund Before Receiving It
Too many tax filers each year use tax advance refund loans – as early as December. This allows people to get an advance on the refund, which then gets repaid when they file their taxes.
But this is a silly waste of money, and risky financially. First, most of these loans have fees, charges, or even higher tax preparation fees. It’s risky, because many early filers do so before getting all their paperwork, and they end up missing something.
This can actually result in a tax refund being delayed, or even an audit later on.
Considering that the average tax return only takes 21 days to process, according to the IRS Refund Schedule, just be patient and file at a normal time. Even better, plan ahead to not get a large refund.
Steer Clear Of Impulse Purchases
Getting a lot of money hitting your bank account all at once can feel amazing. But then human nature kicks in, and you get an urge to spend it on something you’ve been wanting. It’s a tough feeling to shake, but it’s so much better to invest your tax refund than waste it on impulse purchases you’ll never remember in 5 months.
Keep Getting A Large Tax Refund
While the average refund is almost $3,000, a lot of people don’t realize that a tax refund is simply a refund of extra money you paid the IRS all year.
Instead of $3,000 at tax time, you could actually be getting $250 more in your paycheck each month! If you’re paid bi-weekly (like most Americans), you could be getting an extra $115 per paycheck. Seriously!
If you consistently receive large refunds, and it can make sense to adjust your W4 tax withholding to balance your taxes better. This can give you more money each paycheck, and a smaller refund at tax time.
What do you plan to do with your tax refund this year?
Editor: Clint Proctor
Reviewed by: Colin Graves
The post What To Do With Your Tax Refund: And 3 Things Not To Do appeared first on The College Investor. | BidBuddy.com
