Advice For Home Sellers

Found 7 blog entries about Advice For Home Sellers.

The most recent numbers show another strong quarter for the Colorado Springs housing market.

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Compared to Q3 of 2017, the total number of listings and days on the market remained virtually identical. Homes priced between $300k-$500k along with the $1million+ market gained momentum, but the number of units sold under $300k declined by 26% due to the extreme lack of inventory.

One interesting indicator during this quarterly cycle is the median sales price. Although our local market values have increased another 11% over the same period last year, the current median sales price is down 2% compared to Q2 of 2018.

Keep An Eye On Interest Rates

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Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year

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Occasionally, people will try to sell their homes “For Sale by Owner,” or FSBO. They do this to save money in real estate commission and fees. While you may be tempted to save that 3-6% in commissions, it could cost you thousands more by going it alone. According to the National Association of Realtors, “FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.”

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Below is a list of potential pitfalls of selling your home “For Sale by Owner” in Colorado Springs that can go terribly wrong. If you’re dedicated to the idea of FSBO, then I wish you the best of luck, but I invite you to consider these points before proceeding.

What an agent can do for you…

Time is money

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Housing prices are at an all-time high and competition for affordable homes is fierce. Home buyers need an experienced Colorado Springs real estate agent to advocate for them during contract negotiation and throughout the real estate process.

However, many people enlist the help of a family member or friend who work in real estate. Hiring a friend or family member can backfire in many ways. You should hire an agent based on how well they do their job and what former clients say about them. It’s best to hire a real estate agent not as a favor, but because they’re good at their job.

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Many times, people moving to Colorado Springs simply don’t want to go through the hassle of interviewing several real estate agents for the job. According to Redfin

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The strong sellers' market continues in Colorado Springs but home buyers are starting to see more relief compared to the first quarter of 2018. Mortgage rates are a key factor to the slight cool off, having gained 60 basis points (.6%) since the start of 2018 but they have also remained relatively flat for the past 5 weeks.

Colorado Springs Real Estate Market Update

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Overall listings in Q2 were still nearly 6% lower than the total count from a year ago, but compared to the 14% deficit we saw in the first quarter of 2018, the "white hot" market could now be described as a "red hot" market.

Appreciation continues to be good to home sellers. The median sales price for residential property in El Paso County is now $303,000, up nearly $20,000 since Q1

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Zillow Research is predicting that the next recession to hit the United States will happen in the first quarter of 2020. But unlike the notorious Zestimate (the computer algorithm known for its “pin the tail on the donkey” valuations), the popular real estate website that makes its fortune by selling advertising back to the very same agents who provide the market information to Zillow in the first place has a pretty solid theory about an upcoming correction.

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The majority of the real estate industry experts who were surveyed by Zillow say that monetary policy will be the cause of the 2020 recession. Many of the 99 panelists who were interviewed agree that the likelihood of tighter access to credit for less than perfect borrowers will contribute to

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 There are many different strategies to market a home for sale, but if you’re thinking “how can I sell my house fast?” then this article is for you. Whether you’re experiencing a buyer’s market or a seller’s market, online advertisement and social media platforms have become some of the most valuable tools for marketing your home. Think about it - if buyers don’t see your listing, how will it ever sell? It’s common knowledge that the number one search technique for most, if not all buyers, is an online search. So, you also need to go where the buyers go... online!

Photography

Start your online marketing efforts with professional photographs of both the interior and the exterior. Buyers will want to see photographs and details of every room,

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Each one of us has our own unique tastes when it comes to the interior décor of our homes. From how we arrange our artwork to where we place our furniture is an expression of ourselves, and that’s why we love our homes. It’s who we are. We feel comfortable in our own space and we tend to live in a way that offers ourselves the most convenience.

However, when it comes to selling your home, it’s important to understand that home buyers have discriminating eyes and will be scrutinizing your home based on its overall presentation. Buyers will be making emotional decisions on everything from the paint colors to how the furniture is laid out. If you’re like most home owners who are getting ready to sell, one of the most important questions you should ask

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