December 23’ - Listing Spotlight
December of 2023 showed similar characteristics in the amount of homes listed to the previous December with a total of 6 listed in 2022 and 6 listed in 2023. However, the major differentiation is that a majority of those homes listed last year went under contract in less than 2 weeks, and nearly everything listed this December is still sitting an active into the start of 2024. Of course, the interest rates, which dominated the conversation throughout the year, played a huge role in this phenomenon, but also the quality and style of product plays into the conversation as well. The homes listed this December just may not have been quite as attractive to the buying pool, not only based on associated costs, but just as a home itself. Add to that the fact that previous months of inventory (IE October and November leading into December) also had a slower churn, which provided more competition for each home being listed in the end of the year.
Here is an overview of what hit the market this month and my thoughts on each property.
415 S Howes St 1009, Fort Collins, 80521
Listed by Ryan Livingston, Remax Alliance FTC- South
List Price: $390,000
Sold Price: Active (As of 01/08/24)
Difference: TBD
Its not the most expensive of the condos listed in this complex, but it is definitely up there towards the top of the pile in price. I do like that this unit is on the upper levels, which should provide some nice views and loft style living. I really do feel like the elevated HOA fees in these buildings are such a drag to getting them sold. I’ve seen HOA fees as “low” as $550/month, all the way up to over $1000/month. OOF. Thats a tough pill to swallow on top of an already elevated monthly payment.
503 Hanna St, Fort Collins, CO 80521
Listed by JoAnne Fernandez, Realty One Group Fourpoints
List Price: $495,000
Sold Price: Active (As of 01/08/24
Difference: TBD
This home is on the smaller side of things (888 SQFT) to fit 3 beds, 2 baths, and a living space. The overall finishes look pretty decent, but I would be concerned with outgrowing this home pretty quickly. I could see a younger couple, or perhaps a retiree being into a home like this, but ultimately it seems like the type of place that would be a short-term stopping point in someones life as opposed to a long term “dream home”. I’d love to hope that it would sell at the current price, but it seems as though it will probably sit until the market catches up or it does a bit of price adjusting in 2024.
1520 W Mountain Ave, Fort Collins, CO 80521
Listed by Jason Levi, Coldwell Banker Realty- Fort Collins
List Price: $650,000
Sold Price: Pending (off market deal)
Difference: TBD
Seeing as how this is a deal that was put together prior to being entered into the MLS, there is not much information to run off of with this home.
407 N. Loomis Ave, Fort Collins, CO 80521
Listed by Josh Stone, RentPro Property Management
List Price: $810,000
Sold Price: Active (As of 01/08/24)
Difference: TBD
It is pretty rare for a home to be listed when only partially finished, but that seems to be the case on this agent owned property. This home sold in 2023 for $450K, and while the current owner/agent/contractor has certainly remodeled the entire home, the overall sqft and bed/bathroom count makes $810K feel like a bit of a stretch. Honestly, I think this property would fare better if they just totally finished it, staged it, and then listed it in spring…which is what will probably happen anyways!
924 Laporte Ave, Fort Collins, CO 80521
Listed By Noco Home Team, C3 Real Estate Solutions LLC
List Price: $935,000
Sold Price: Active (As of 01/08/24)
Difference: TBD
Such a cool craftsman style home from the exterior that certainly gets ones imagination going on what it looks like inside. It does have a decent layout inside, although the 2 main level bedrooms may feel a bit on the smaller side for some. I do think there is some nice charm and character to this home, and if there was an opportunity for this one to be vacant and staged, I think it would do a bit better in the market. The smaller garage is a bit of a bummer for extra workspace, but there is a decent sized basement that would provide some extra storage space. The yard is quite nice as well and well manicured, which is tougher to tell in the middle of winter. Final plus, great neighbors all around (myself included!)
1230 W Oak St, Fort Collins, CO 80521
Listed by Michael Jensen, Fort Collins Real Estate LLC
List Price: $1,250,000
Sold Price: Active (as of 01/08/24)
Difference: TBD
Great location on this home that is just a few doors down from City Park. It was sold off market for $950K and almost immediately put back on the open market for $1,250,000 after doing a bit of paint and new carpeting. The property is being listed as a “build to suit” type of sale potentially, but certainly for an elevated price about the “base” price of $1,250,000. There is definitely potential to make this a very nice property with some decent investments, but a saavy buyer may feel undone by paying $300K above the wholesale price that the current owners purchased the home at, even if they have done a bit of updating already.
