No!! Northern Colorado was recently (two weeks ago) rated as a "stable" market by Fannie Mae!

Fort Collins is an OK market. We've been here 7 years and house price have been flat the whole time.

Buying a house with no savings is very risky. We moved in to our house and realized it needed a new roof - $2500, then the water heater sprung a leak $700, then the furnace went $2000 and the AC condensor was corroded $400, then the paint started peeling $2400. That's not to mention the sprinkler system every single spring, the new carpets and now the windows are getting foggy.

If you're taking a 100% loan because you don't have savings that's not good. You should have at least 6 months of living expenses and a bit extra before you buy a house.

Fort Collins is an OK market. We've been here 7 years and house price have been flat the whole time.

Buying a house with no savings is very risky. We moved in to our house and realized it needed a new roof - $2500, then the water heater sprung a leak $700, then the furnace went $2000 and the AC condensor was corroded $400, then the paint started peeling $2400. That's not to mention the sprinkler system every single spring, the new carpets and now the windows are getting foggy.

If you're taking a 100% loan because you don't have savings that's not good. You should have at least 6 months of living expenses and a bit extra before you buy a house.

You have probably closed on your new home by now! Congratulations! Fort Collins is not a "soft" market. I have heard that some zip codes in Loveland and Greeley are considered "depreciating" by lenders. In these markets, they do require a larger downpayment for certain types of loans. Don't "freak out" by what you read on the internet. Just like real estate information that is published in national newspapers, much of the information is not transferrable to the local market. Your lender will let you know immediately if you need to come up with a larger downpayment if, in fact, your home is located in an affected area.

I've not heard of our market being called soft. We're not appreciating in a crazy manner, which is good, but we're not going down in value, either. I would check with another lender and see what they have to say. It may be that this is a new requirement, and if so, then another lender will tell you the same thing.

I wish you the best of luck, as it's a wonderful time to buy in Fort Collins. Enjoy your new home!

Has your lender told you this is a requirement for your loan? If, and I stress If your lender/broker/banker is reputable and up to the most current info they should be able to answer this question for you. Not everything online is true, trust me. But, this could be a new requirement. I'd suggest immediately bringing it up to your lender and see what they say then go from there. No need to panic at this point. It may be something that is simply reported on the appraisal and CO wasn't crazy like other places in this country in terms of appreciation.
And, if you don't get this house, it wasn't the right one. Nothing ever happens by mistake, even in real estate.
Good luck,
Susan Walker

I believe Fort Collins is in a stable market, this is a great time to buy. I believe the real estate market here is about to improve. Ask your lender about the Nehemiah Program, it may be too late since you have a contract in place but maybe you can work this out with the seller. Ask your realtor to give you 3 experienced lender contacts so you can see if there is another program that will work for you. Good luck.
Dynamic Real Estate
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