Fort Collins sits atop a desirable list released this month by U.S. News and World Report.
The national publication has Fort Collins and Loveland ranked as one of the top 10 housing markets for the next 10 years in terms of appreciation.
While the economy has cut a swath through the housing market, leaving homes in foreclosure or bankruptcy, there are some areas poised to make a return quicker than others.
The report states that within the next 10 years, a majority of America’s real estate markets will appreciate. U.S. News took the employment and national population data from Moody’s Economy.com along with geographic and industry trends to compile its list of 10-year home price projections for 384 metro areas.
Fort Collins and Loveland are No. 3 on the list behind Bremerton and Silverdale, Wash., and Glens Falls, N.Y.
The article quotes Brian Willms, president and CEO of the Loveland Chamber of Commerce, who attributes much of the region’s appeal to CSU and renewable energy.
The article states that Fort Collins’ 2008 average home sale price was $212,000. Home prices in the Fort Collins and Loveland area should rise an average of 4.1 percent annually within the next 10 years, Moody’s Economy.com projects.
Sarah Bennett, president of the Fort Collins Board of Realtors, said the report resonates with her because Northern Colorado has been insulated due to its diverse economy.
“We are seeing a shift locally in the housing market,” she said. “The local real estate community feels that we are a great market and well positioned for an early return.”
Bennett said the national spotlight will have a direct impact on people not only looking at Fort Collins, but possibly relocating here.
“Any time we hit these national publications, we will see the hits increase at real estate Web sites, and inquiries increase,” Bennett said.
Willms said he wasn’t surprised when he was contacted by the publication, but he was pleased.
He said based on the diverse economy with Colorado State University, renewable energy and natural gas, it was just a matter of time before people saw the appeal of the region.
“That kind of exposure will enhance the opportunity for primary jobs,” Willms said.
Working in Northern Colorado’s markets since 1981, Ralph Waldo, broker associate and partner with The Group Inc. Real Estate, said he expects the housing market will continue toimprove as the region grows .
“Housing here on the Front Range continues to remain, I want to say, a bargain,” he said.
Waldo doesn’t see an immediate impact from the article on the region. He said the credit markets will have to ease before developers and builders are able to go back to work. However, once that happens, in a year or two, Waldo said the pent-up demand will be released.