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6 Ways to Go Green in Your Home

6 Ways to Go Green in Your Home

Whether you’re shopping for a new home or just want to spruce up your old one, lowering your carbon footprint and making your home a little greener is a worthwhile investment. An eco-friendly house is more likely to attract buyers looking for real estate in Montrose, CO, and green upgrades will save you money on your utility bills for as long as you live there.

Try these green home improvements to make your home more environmentally friendly:

Solar Panel Image1. Cool the Roof

If you can have solar panels installed on your roof, go for it! You may be able to get most or all of your electricity from this renewable resource. Even if you can’t, upgrading your roof to a cooler one can help green up your house. Consider white or reflective “cool roof” coatings to lower your energy use by keeping the sun’s heat out.

2. Add Insulation

This isn’t one of the most exciting projects, because insulation is hidden in your walls and in your attic. However, proper air sealing and insulation can cut your heating and cooling bills in half. Best of all, you may even be eligible for rebates or subsidies for these green projects.

3. Replace the Windows

If your house has drafty old windows, replacing them will also provide serious savings on your utility bills. This project is a little more fun, since you can choose the color and style of your new windows to reflect your taste while buttoning up your home from the elements.

4. Cut Water WasteImage of a Shower Head

If your toilets and shower heads are older, they’re probably wasting water. New toilets use only 1.6 gallons per flush, compared to 2.5 gallons for ones built before 1992. In addition to replacing your toilet, try installing a low-flow shower head and sink aerators to save even more water.

5. Decorate With Found Objects

Few things are as satisfying as remodeling a room, but gutting your kitchen ends up sending a lot of material to the landfill. Try using salvaged wood, hardware and other materials from older homes that you can find in a salvage yard or resale store. These items can add real character while being completely environmentally friendly.

When you remodel with an eye towards using eco-friendly materials and making your home a more energy-efficient place, you’ll feel great about your project and know you’re doing the right thing for a more sustainable lifestyle.

Real Estate Questions? We’re Here to Help!

Diana Atha: 970-417-9374

Atha Team Montrose Colorado Keller Williams Real Estate ImageCopyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.

Montrose Co Real Estate
Real Estate Statistics - Montrose Colorado MLS

August 2017 – Montrose Colorado Real Estate Market Update

Montrose Real Estate Market 2013-2017 Historical Recap

Atha Team Montrose Colorado Real Estate MarketThe Montrose Colorado real estate market has proven resilient with sustained growth trends over the last four years, not only in the number of home sold, but also in home value gains. Homeowners, once underwater in mortgages acquired during last housing peak, have been able to sell at a profit over the last few years. The equity gain over the past four years averaged close to 8% annually, while the number of homes selling per year experienced advances between 8% and 17%. This has truly been a phenomenal season in the Montrose housing market, especially when looking back since 2010 when the Montrose market bottomed out.

Atha Team Montrose Colorado Real Estate MarketA tapering in the market appears to be the theme of 2017, with equity gains down 4% relative to the same period last year. Also, the number of units sold is up only 1% from the same time period last year. Several factors may be contributing to this leveling out of market activity including: affordability, price gain sensitivity, and tight inventories. Years end should provide a better assessment of the 2017 housing market.

1. 2017 – Jan 1st – Aug 1st (YTD)

  • 425 Total Units Sold
    • 1% gain in units sold (from the same time period Jan 1st – Aug 1st 2016)
  • Median Sold Price: $215,000
    • Homes are selling 0.4% below asking price.
  • 2.3% Gain in Sale Price 2016 – 2017  (from the same time period Jan 1st – Aug 1st 2016)
    • Relative to:
      • 6.3% gain 2015 – 2016 (from the same time period Jan 1st – Aug 1st)
    • Evidence that the equity gain in the market (relative to the 7% gain per calendar year as seen in the previous recovery years) is possibly leveling out.

     

2. 2016 – Jan 1st – Dec 31st  (1-Calendar year)

  • 754 Total Units Sold
    • Up 8%, year-over-year, from 2015
    • 55% of total annual sales occurred between Jan 1st – Aug 1st 2016
  • Median Sold Price: $209,900
    • Homes sold 2.3% below asking price.
  • 7% Total annual equity gain/sale price gain year-over-year from 2015

 

3. 2015 – Jan 1st – Dec 31st  (1-Calendar year)

  • 693 Total Units Sold
    • Up 17%, year-over-year, from 2014
    • 57% of total annual sales occurred between Jan 1st – Aug 1st 2015
  • Median Sold Price: $194,900
    • Homes sold 2.3% below asking price.
  • 13% Total annual equity gain/sale price gain year-over-year from 2015

 

4. 2014 – Jan 1st – Dec 31st  (1-Calendar year)

  • 577 Total Units Sold
    • Up 17%, year-over-year, from 2015
  • Median Sold Price: $170,000
    • Homes sold 2.8% below asking price.
  • 3% Total annual equity gain/sale price gain year-over-year from 2014

 

5. 2013 – Jan 1st – Dec 31st  (1-Calendar year)

  • 563 Total Units Sold
  • Median Sold Price: $164,900
    • Homes sold 2.3% below asking price.
  • 9.3% Total annual equity gain/sale price gain year-over-year from 2012

Atha Team Montrose Colorado Real Estate Statistics Graph

 

Thinking about Buying or Selling? Call or Text: 970-417-9375

Atha Team Montrose Colorado Keller Williams Real Estate Image

 

Copyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.

Montrose Co Real Estate
Real Estate Statistics - Montrose Colorado MLS

April 2017 – Montrose Colorado Real Estate Market

Home Prices Reaching Possible Breaking Point

With consumer confidence at a 16-year high and Montrose Colorado real estate values gaining monthly, anticipation is expected as to what 2017 will bring. Along with the booming equity in home vales comes the reality that Montrose home prices are reaching a possible breaking point for local buyers in the $150,000 – $300,000 price range (see inventory levels below).

Anxious Buyers and Apprehensive Sellers

Wage growth, at 2.5%, has failed to match increases in real estate price gains. This is the most evident for first-time home buyers and reflects the declining trend in US home ownership. The steep increase can be attributed to, once again, lack of new housing inventory. Further, the lack of new construction can be linked to the tight lending requirements for construction loans. National inventory levels are at a 20-year low (Property Buyers Face Hard Spring). Potential homes Sellers are now becoming reluctant to put their homes up for sale in fear of purchase options once they do sell. The current housing market has created a curious cocktail of anxious Buyers and apprehensive Sellers.

As home prices increase, the volume of sales is taking a hit. The median days on the market in Montrose has dropped to 69 days. Subtracting an average of 45 days to close, homes are now residing on the market for 3.4 weeks before they go under contact. Further, the average number of homes sold in Montrose Colorado dropped last month from 58 to 46 units sold. Still, home equity gains are relatively modest in comparison to the 14% gains seen in 2005 before the Financial Crisis. Last years equity gain in Montrose topped out at 7%.

Mid-Range and Luxury-Housing Inventories

On a brighter note for Montrose, current inventory levels above $300,000 are drastically improving. We’ll see if this trend continues through the spring and summer, but relative to a year ago, mid-range and luxury-housing inventories are looking much healthier.

Current Saturation Rate 10/4/16 – 4/13/17 (6-months):

  1. $500- 900K (assuming current homes under contract close):
    1. 2.33 Homes selling per month
    2. 24/2.33 = 10.30 months of inventory
  2. $400-$500K (assuming current homes under contract close):
    1. 4.33 homes Selling per month
    2. 34/4.33 = 7.84 months of inventory
  3. $300 – 399K
    1. 8.16 homes selling per month
    2. 54/8.16= 6.61 months of inventory
  4. $150 – 299K
    1. 24.5 homes selling per month
    2. 51/24.5 = 2.08 months of inventory

A healthy housing inventory, when buyer demand and seller supplies are equal, is considered to be around 6-months.

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Thinking about Buying or Selling? Call or Text: 970-417-9375

Copyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.

 

Montrose Co Real Estate
Montrose CO Real Estate Blog

4 Ways to Determine If a Montrose CO Home Is Affordable

montrose COBuying a house in Montrose CO is exciting, and ideally, you will enjoy it for years to come. Many aspiring homeowners wonder just how much they can afford to spend. The answer is different for everyone, so you’ll have to crunch the numbers and take an honest look at your budget. There are some general rules of thumb to follow, so try these tips to make sure you choose a house that you’ll be able to make payments on comfortably.

1. Make a Complete Household Budget

If you don’t already have a budget for your monthly income and expenses, you need to sit down and hash this out. Use a budget template to get focused, and enter the amounts you spend for important items such as rent, car payments, student loans, food, entertainment and so on. Once you have these numbers in hand, consider how much you feel comfortable spending on a monthly mortgage payment. You may wish to trim certain areas to boost your housing line, but just make sure everything balances out.

2. Keep Your Mortgage Payment Under 28 Percent of Your Income

Experts recommend that your total housing costs come to no more than 28 percent of your total take-home pay. Keep in mind, though, that this number isn’t just the mortgage payment: It should also include taxes and homeowners insurance payments. Your real estate agent can help you estimate the full cost as you shop around.

3. Experiment With Online Calculators

To get a sense of how house prices and real estate taxes in your area influence your buying power, try using an online affordability calculator to get a ballpark figure for what you can afford in Montrose Colorado. It’s also worthwhile to play with a mortgage calculator to see how different down payments and interest rates affect your bottom line.

4. Talk to Your Lender

The mortgage company you choose will have the final say on how much you can borrow, so it’s worth getting prequalified and preapproved before you get serious about house hunting. Your lender may also help you come up with creative ways to boost your down payment or take advantage of special lending programs.

Once you know your number, you’re ready to hit those open houses and showings! Having an accurate budget in mind will make your real estate search in Montrose much easier and allow you to focus on the right houses for you.

Thinking about Buying or Selling? Call or Text: 970-417-9375

Copyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.