Setting Up your Home Gym

Image Source: Canva

 

As the stay-at-home hours add up, setting up a home gym is not only physically beneficial, but can bring some added mental wellness to the new normal many of us find ourselves in. In comparison to a gym membership, even with the up-front investment of purchasing equipment, an at-home gym can deliver savings in the long run. With far-ranging fitness gear options online, there are more ways to save than ever before.

 

Location, location, location

 

Before the lunges, pushups, and weightlifting, the first step in setting up your at-home gym is deciding where to build it. You’ll want plenty of room for the activities and workouts you have in mind. Rooms with low ceilings or narrow walls are not well-suited for a gym. They will limit your ability to perform any kinds of jumping exercises or workouts with wide ranging movements. This space is dedicated to physical activity and the environment should support that. If extra space is hard to come by in your home, consider taking your gym outdoors to a patio, multipurpose space, or other less commonly used area.

 

A space with level, hard flooring, like wood, laminate, or tile, is the best fit for your gym, especially if you plan on establishing a workout plan based around lifting or cardio. Having spatial awareness at all times is important while working out, so you’ll want plenty of light in your home gym. Mirrors are a common fixture in gyms, consider adding one to your wall to analyze your technique.

 

Gear up

 

  • Strength training: Simple workout tools like kettlebells and dumbbells allow you to perform a variety of workouts without taking up much space. Kettlebells are a great tool for incorporating cardio workouts with added weight. Dumbbells at a lower weight are better for toning exercises, while those at heavier weights are better for low-repetition, bulk exercises.
  • Cardio training: Smaller workout tools such as jump ropes, wrist and ankle weights will add intensity to your cardio workouts. Yoga mats provide proper support while performing core exercises or other body weight circuit workouts during your cardio sessions.
  • Large equipment: To get the most out of large workout equipment like treadmills, stair climbers, and bikes in your home gym, plan for them to be a significant part of your workouts.
  • Additional: Applying a layer of gym flooring will help prevent damage and provide added support. If you prefer music and/or video to accompany your workouts, add speakers and a TV to get the motivational juices flowing.

 

Establish a routine

 

Your home gym is no good if it gets no use. With zero commute time to account for, arrange a workout routine that suits your daily schedule. Even if you have 30 minutes, getting into a routine of working out is the key to building up your healthy lifestyle in this new normal of home life.

 

Once your home gym is set up, it can be either your individual fitness sanctuary or an opportunity to work out with others. Invite a friend to exercise via video chat and schedule times to feel the burn together. With more virtual fitness classes available now than ever, surf the web to find the classes that best fit your schedule and desired workout intensity.

Posted on July 16, 2020 at 5:38 pm
Brandon Bidwell | Category: Home Design | Tagged , , , , , , , , , , ,

Economist Q&A Webinar (Wed 4/22)

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On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner.

He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado.

You will hear the answers to the biggest questions we are hearing from clients now like “do you think housing prices will crash?”

This event is exclusively for clients and friends of Windermere Real Estate. To receive the registration link simply comment on this blog or reach out to your Windermere real estate broker.

Many of you have heard Matthew speak at our Market Forecast events we hold each year in January. He is famous for making complex economic dynamics very simple to understand.

You will get useful and valuable information which will give you clarity about where the market is headed and when we can expect the economy to improve.

For example Matthew predicts unemployment to hit 15% by the end of June, but then to improve to 8% by year-end and 6% by this time next year.

Again, if you would like the link just comment on this blog or reach out to your Windermere broker.

At Windermere Real Estate we are taking Shelter in Place and Social Distancing very seriously.  Our people are working at home, staying connected to their clients, and providing help wherever needed.

Posted on April 18, 2020 at 10:07 pm
Brandon Bidwell | Category: Market Data | Tagged , , , , , , , , , , , , ,

The 12 Facts of Real Estate

  • 1 is the ranking Colorado owns for long-term home price appreciation versus all other states
  • 2.6% unemployment rate in Colorado right now
  • 3.73% mortgage rate for a 30-year mortgage which is about half of the long term average
  • 4.7% apartment vacancy rate in Metro Denver, the lowest since 2015
  • 5.5% is the long-term average for yearly home price appreciation along the Front Range
  • 6,000,000 live in Colorado
  • 7,000 residential properties are for sale in Metro Denver right now and the average for this time of year is 14,700
  • 80,000 is the number of people that is added to our state’s population each year
  • 9 homes are for sale in Larimer and Weld County priced over $2,500,000
  • -10% is the decrease in new home construction in Larimer County compared to last year while Weld County grew by 17%
  • 11 times in the last 40 years home prices have gone up at least 8% along the Front Range
  • $1,202,488 is the average price for a single-family home in the City of Boulder

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Posted on January 23, 2020 at 4:12 am
Brandon Bidwell | Category: Market Data | Tagged , , , , , , , , , , , ,

Do Election Years Impact the Real Estate Market?

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It’s an election year which means that our clients are asking us if election years impact real estate.

According to research done by Real Trends there is zero correlation between election years and the number of transactions in the market compared to non-election years.

They found that sales were down in 1980, 1988, and 2008 compared to prior years, and sales were up in 1992, 1996, 2000, 2004, 2012, and 2016.

To hear more about what will happen this year in real estate and the factors that really do impact our market, be sure to get registered for our annual Market Forecast event next week.

It’s time to register for our annual Market Forecast event.  We will be live at 5:30 on January 15th at the Wellshire Event Center.  Back by popular demand is our Chief Economist Matthew Gardner.  Save your seat HERE.

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Posted on January 15, 2020 at 1:05 am
Brandon Bidwell | Category: Market Data | Tagged , , , , , , ,

Matthew Gardner’s 2020 Mortgage Rate Forecast

Each year Windermere’s Chief Economist, Matthew Gardner, forecasts into the next. Here’s what he expects for Mortgage Rates in 2020.

 

Posted on December 18, 2019 at 3:18 am
Brandon Bidwell | Category: Buyers, Market Data | Tagged , , , , , , , ,

Big Home Value Bounce!

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Seventy-five major metro markets have seen home prices bounce back to above their pre-recession peaks.

Metro Denver has seen the biggest bounce with home values 91% above its previous high in 2007 , according to the Home Price Recovery Index from HSH.com.

“Aside from routinely strong home price appreciation, it’s important to know that the Denver metro’s housing ‘bust’ in 2008 was relatively short and shallow,” said Keith Gumbinger, the report’s author.

The peak-to-trough for home values was only three years long and the total decline in value was just under 8 percent in Metro Denver, he said.

By contrast, a half-dozen large metros have seen home prices more than double from their lows and still not reach the old highs. On that list are Las Vegas, Sacramento, Calif, and Cape Coral, Fla.

 

Posted on October 3, 2019 at 4:58 am
Brandon Bidwell | Category: Market Data, Sellers | Tagged , , , , , , , , , , , ,

Real Estate Appraisals

Appraised value vs. market value

Appraisals are designed to protect buyers, sellers, and lending institutions. They provide a reliable, independent valuation of a tract of land and the structure on it, whether it’s a house or a skyscraper. Below, you will find information about the appraisal process, what goes into them, their benefits and some tips on how to help make an appraisal go smoothly and efficiently.

The appraised value of a property is what the bank thinks it’s worth, and that amount is determined by a professional, third-party appraiser. The appraiser’s valuation is based on a combination of comparative market sales and inspection of the property.

Market value, on the other hand, is what a buyer is willing to pay for a home or what homes of comparable value are selling for. A home’s appraised value and its market value are typically not the same. In fact, sometimes the appraised value is very different. An appraisal provides you with an invaluable reality check.

If you are in the process of setting the price of your home, you can gain some peace-of-mind by consulting an independent appraiser. Show him comparative values for your neighborhood, relevant documents, and give him a tour of your home, just as you would show it to a prospective buyer.

What information goes into an appraisal?

Professional appraisers consult a range of information sources, including multiple listing services, county tax assessor records, county courthouse records, and appraisal data records, in addition to talking to local real estate professionals.

They also conduct an inspection. Typically an appraiser’s inspection focuses on:

  • The condition of the property and home, inside and out
  • The home’s layout and features
  • Home updates
  • Overall quality of construction
  • Estimate of the home’s square footage (the gross living area “GLA”; garages and unfinished basements are estimated separately)
  • Permanent fixtures (for example, in-ground pools, as opposed to above-ground pools)

After considering all such information, the appraiser arrives at three different dollar amounts – one for the value of the land, one for the value of the structure, and one for their combined value. In many cases, the land will be worth more than the structure.

One thing to bear in mind is that an appraisal is not a substitute for a home inspection. An appraiser does a cursory assessment of a house and property. For a more detailed inspection, consult with a home inspector and/or a specialist in the area of concern.

Who pays and how long does it take?

The buyer usually pays for the appraisal unless they have negotiated otherwise. Depending on the lender, the appraisal may be paid in advance or incorporated into the application fee; some are due on delivery and some are billed at closing. Typical costs range from $275-$600, but this can vary from region to region.

An inspection usually takes anywhere from 15 minutes to several hours, depending on the size and complexity of your property. In addition, the appraiser spends time pulling up county records for values of the houses around you. A full report comes to your loan officer, a real estate agent or lender within about a week.

If you are the seller, you won’t get a copy of an appraisal ordered by a buyer. Under the Equal Credit Opportunity Act, however, the buyer has the right to get a copy of the appraisal, but they must request it. Typically the requested appraisal is provided at closing.

What if the appraisal is too low?

If you appraisal comes in too low it can be a problem. Usually the seller’s and the buyer’s real estate agents respond by looking for recent and pending sales of comparable homes. Sometimes this can influence the appraisal. If the final appraisal is well below what you have agreed to pay, you can renegotiate the contract or cancel it.

Where do you find a qualified appraiser?

Your bank or lending institution will find and hire an appraiser; Federal regulatory guidelines do not allow borrowers to order and provide an appraisal to a bank for lending purposes. If you want an appraisal for your own personal reasons, and not to secure a mortgage or buy a homeowner’s insurance policy, you can do the hiring yourself. You can contact your lending institution and they can recommend qualified appraisers and you can choose one yourself or you can call your local Windermere Real Estate agent and they can make a recommendation for you. Once you have the name of some appraisers you can verify their status on the Federal Appraisal Subcommittee website: https://www.asc.gov/National-Registry/NationalRegistry.aspx

Tips for hassle-free appraisals:

  • What can you do to make the appraisal process as smooth and efficient as possible? Make sure you provide your appraiser with the information he or she needs to get the job done. Get out your important documents and start checking off a list that includes the following:
  • A brief explanation of why you’re getting an appraisal
  • The date you’d like your appraisal to be completed
  • A copy of your deed, survey, purchase agreement, or other papers that pertain to the property
  • If you have a mortgage, your lender, the year you got your mortgage, the amount, the type of mortgage (FHA, VA, etc.), your interest rate, and any additional financing you have
  • A copy of your current real estate tax bill, statement of special assessments, balance owing and on what (for example, sewer, water)
  • Tell your appraiser if your property is listed for sale and if so, your asking price and listing agency
  • Any personal property that is included
  • If you’re selling an income-producing property, a breakdown of income and expenses for the last year or two and a copy of leases
  • A copy of the original house plans and specifications
  • A list of recent improvements and their costs
  • Any other information you feel may be relevant

By doing your homework, compiling the information your appraiser needs, and providing it at the beginning of the process, you can minimize unnecessary phone calls and delays.

Posted on September 16, 2019 at 6:08 am
Brandon Bidwell | Category: Buyers, Sellers | Tagged , , , , , , ,