Loveland Colorado Real Estate Market Update for 2024

Here is your Real Estate Market Upate for Loveland, Colorado! Are you wondering what 2024 has in store for the Northern Colorado Real Estate Market? Watch this video to see the most recent real estate market data from December 2023 then we’ll talk about what people wanting to buy a home or sell a home in Loveland, CO should expect in the new year.

As described in the video above, the mortgage interest rates dropped almost 1.5% at the end of December and the Fed has said that they expect to lower rates 3 or 4 times in 2024. With that news, the real estate market is heating up. Unfortunately, inflation has remained strong in the first part of 2024 which makes these interest rate drops look like they will happen later in the year.

I’m getting calls from new home buyers who are serious about getting into the market. I expect demand to increase in 2024 and while I’m hoping inventory loosens up, I know it will still be limited which will surely cause home prices to increase. That means that the break in mortgage interest rates will be lost in increase competition and rising home prices. So affordability will still be an issue for most home buyers.

Are you thinking about buying a home in Loveland, Colorado or maybe you’re thinking of selling a home in 2024? Let’s talk about it. Reach out to me on my contact page or text me at 970-203-5066.

Greeley Colorado Real Estate Market Update for 2024

Greeley, Colorado, like most of Colorado, is experiencing a busy but changing real estate market. With a population of around 100,000 people, Greeley is home to a diverse community that is growing rapidly. The city has a vibrant downtown area, plenty of parks and recreational spaces, and a strong local economy, all of which make it an attractive place for people to live and that is what is driving the overall real estate market to stay strong. To help explain what exactly is happening in the Greeley Real Estate Market, watch this video.

One of the main reasons for the strong real estate market in Greeley that compared to other cities in Northern Colorado, Greeley’s home prices are relatively affordable. Greeley offers a more affordable cost of living, which makes it a popular choice for people who want to live in the Northern Colorado area but don’t want to pay the higher prices you’ll find in nearby Fort Collins, Loveland or Windsor.

In addition to the more affordable housing prices, Greeley’s strong local economy is also contributing to the city’s real estate boom. The city hosts a number of major employers, including JBS USA, State Farm Insurance, and the University of Northern Colorado. A mixture of a low cost of living and steady employment fuels the local real estate market.

Overall, the real estate market in Greeley, Colorado is a strong and vibrant one. The current real estate market situation for 2024 looks good. In the video above we discusses the latest real estate market data for Greeley and what it suggests for the local real estate market in 2024. Do you have additional questions? I’d be happy to help. 

Reach out to Andy Hawbaker at the contact page or text 970-203-5066.

Andy Hawbaker is a licensed Realtor in Northern Colorado with Coldwell Banker Realty – Northern Colorado Office. He is a resident of Windsor and has a great deal of experience helping buyers and sellers in Greeley, CO.

Home Price Affordability in Northern Colorado

Everybody is talking about high interest rates but nobody is really talking about home affordability in Northern Colorado. In my experience in talking with hopeful home buyers is that consumers don’t care about the rate, they are willing to pay 10% on their car loan and 21% on their credit card; they only care if they can afford the monthly payment. Unfortunately, in Northern Colorado the minimum price of a single family home is $400,000 and the interest rate might be above 7.5% resulting in monthly home mortgage, tax and insurance payment of $3,000.

In the November 2023 meeting, the Fed left interest rates alone. It appears that the federal reserve has raised rates high enough to final slow down inflation but mortgage interest rates are averaging 7.5% up to 8%. (I’m not a mortgage loan officer and I’m not quoting any rates, I’m just trying to talk about general averages that I’ve been seeing.)

We’ve all seen car salesmen advertising the monthly payment and not the actual price of the car. I’ve always thought this was strange but it’s because consumers only care if they can afford the monthly payment. In housing, the rising cost of homes in 2020 and 2021 didn’t matter because the rates were so low that people could afford to stomach the monthly mortgage payment.

Now that the rates are high and the home prices aren’t coming down, where does that leave 1st-time home buyers? Well, I can tell you, it’s tough out there.

Real Estate Agents have been saying “Date the Rate & Marry the House”, meaning you should pick a house that works well for you and you can always refinance when interest rates go back down. This philosphy only works if those rates do go back down, it’s never a good idea to buy more house than you can afford.

Recently mortgage loan officers and realtors have been pushing a 2-1 buydown or even a 3-2-1 buydown. Basically, in a 2-1 buydown, you buy down the rate up front so you can take 2% off the rate for the first year and 1% off the rate the second year. The idea is that it makes the payment for affordable to get you into the house and then you can refinance later. But nobody is asking what happens if the rates don’t go back down. This feels like 2009 when people got into ARM loans that suddenly had payments that they couldn’t afford.

Home Affordability in Northern Colorado

So, what happens to home affordability in Northern Colorado? Interest rates are a national problem and demand to own homes in Northern Colorado remains high. I can tell you that with high demand, home prices are not going to crash.

Don’t wait for prices to come down because that is extremely unlikely to happen. Instead, focus on paying down any other debt you have, build up a savings and improve your credit score so you’ll be able to get the best rates possible when it is time for you to buy.

Do you have questions about the Northern Colorado Real Estate Market? Reach out to me and we can talk about it.

Windsor Colorado Bike Trails

Windsor Colorado offers some great outdoor recreational opportunities but one of the best things about living in Windsor Colorado is the great public bike trail system. If you are looking for things to do in Windsor, take this tour of the Windsor Bike trails. In the below video, I’ll show you what it looks like to bike from River Bluff Open Space to Water Valley on the Poudre River Trail. 

Whether you are moving to Windsor or currently living in Windsor Colorado, you probably want to explore all of the bike trails and bike paths. The Poudre River Trail runs all the way from Northwest of Fort Collins to East Greeley (with only a couple of sections not quiet finished). This makes a great regional trail for those looking for a longer bike ride.

I will follow up with video of the rest of the trail. You can also view a recent tour of riding the bike path through Windsor from Windsor Lake to the River Bluff Open Space.

Want to know more about living in or moving to Windsor Colorado? Look around this website, subscribe to my YouTube Channel or reach out to me with your questions.


Home For Sale in Greeley, CO : $349,000

Greeley offers home buyers a unique opportunity to buy a home in Northern Colorado for under $350,000. Watch the below video to see an example of a home for sale in Greeley Colorado asking only $349,000. It’s true, you could live in Greeley and afford a home. Keep reading to learn more.

The Greeley Colorado House in the video about is located at 2743 W 13th St in Greeley. It is a 3 bedroom, 2 Bath home with all new carpet, new interior paint and all new appliances. There is a larger backyard with a covered patio. The home is located down the street from Bittersweet Park and close to the elementary school, police station and hospital.

If you are hoping to buy a house in Greeley, Colorado, reach out to me to get the discussion going. I’m a licensed Realtor with Coldwell Banker Realty in Northern Colorado.