Market Update…
As a quick market update, as of the writing of this article on April 23, 2018, there are 12 homes on the market in Genesee ranging in price from $2,495,000 to $789,000. There are 9 homes under contract ranging in value from $1,495,000 to $519,999. Also, 12 homes have sold so far in 2018 ranging in value from $1,400,000 to $675,000. If you are curious about your home’s value, please give us a call. We will be happy to prepare a market analysis for you. We are very happy to have assisted the homeowners at 24678 Foothills Drive North to receive a very quick, full-price offer.
Fire Mitigation
The 2018-Fire Season is anticipated to be a difficult year for wildfires. Some experts are predicting a potentially devastating wildfire season. Colorado has about 54% of its median snowpack. According to the Rocky Mountain Area Coordination Center, the Central mountains had 80% of its median snowpack, while the Front Range had approximately 32% of its median.
When you consider that Colorado has a lot of vegetation, is relatively dry, and has lots of lightning, we are at a high risk for fires. We are crossing our fingers that this does not impact Genesee. At the same time, we want you to be prepared should the worst happen. It is always important to think about being prepared for a wildfire and being “fire wise”.
Whether you are buying or selling a home or just dealing with your insurance company, there are some critical decisions to be made. Fire mitigation has always been serious and important in our community.
Last year, I received a letter from my insurance company saying they were sending someone to photograph my home to be sure it was in a “fire safe” area. My insurance agent warned me about mitigating so that my insurance did not discontinue my coverage. He said that I should have ten feet in between trees and no tall grass within a 30-foot perimeter of my home. Recently, I switched my homeowner’s insurance to a company that will come out to foam my home in the event of a wildfire. Clearly, some insurance companies are more aware of the issues and offer excellent coverage.
As we regularly work with buyers and sellers in the mountain areas, we see clients with more challenges obtaining homeowners insurance because of trees being too close to the home and other fire mitigation issues.
Each year, we Realtors® take the time to publish articles like this one to help you understand the issues. You should talk to someone about the safety of your home and what you could do to make it safer.
In the meantime, it would be a good idea to check out the Colorado State Forest Service website, http://csfs.colostate.edu, for more information on fire mitigation. You can even ask them questions and have someone come to your property to perform a “homesite assessment.” They can help you assess the health of your trees and the surrounding forests.
I recommend taking proactive steps through these types of services and contacting your insurance company for help and information to keep your insurance rates down and your home values up. Further, the USDA has a website devoted to this topic: https://www.usda.gov. Lastly, the Rocky Mountain Insurance & Information Association (RMIIA) has published information on wildfire mitigation: http://www.rmiia.org, and the Colorado Association of Realtors ® has published additional information along with a toolkit to help you: http://www.coloradorealtors.com/projectwildfire/
If you are thinking of selling your home, please contact me today. I am happy to provide additional information on this topic or others, and to answer any questions you may have.
Jon P. Terry, J.D., C.M.A.S.
Managing Broker
Alaris Properties, LLC
© 2018
