Tagged : sellers

Found 8 blog entries tagged as "sellers".

If you experienced sticker shock when you received your real property notice of valuation from the El Paso County Assessor’s office, you’re not alone. Many residents of El Paso County are shocked by one of the sharpest property value increases in recent history. It’s the first time in 14 years, that the county has experienced such a hike which means larger tax bills for residents.

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 These reassessments are mandated by law every two years. To show you the extent of the increase, consider this: In southeast Colorado Springs, values have shot up 37 percent. Higher valuation means higher taxes. The last time the county experienced double-digit increases was in the late 1990s and early 2000s.

 You can appeal your home’s valuation by filing an appeal

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Home buyers can expect a triple whammy in 2019 with a continuing tightly competitive market (low supply), higher prices, and an interest rate increase. But all is not lost in the 2019 Colorado Springs real estate market. There are several welcome developments for home buyers and mortgage borrowers. New construction will include more affordable entry-level homes and mortgage lenders are easing the qualification requirements for loans. First time home buyers are getting much-deserved attention now in the real estate market, more so than ever before.

Below, is a list of housing and mortgage trends for 2019.

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Need More Homes

The lacking supply of homes for the market will continue to lag in 2019, but it’s not expected to worsen. The number of

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Choosing a professional real estate agent to list your home is so important in today’s market where buyers pay attention to details such as how long a home has remained on the MLS and how many times the price has dropped. Hiring a poor performing realtor can end up costing you in the long run when you find yourself paying the mortgage for your unsold unoccupied home.

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Your listing agent should act as an advocate for you every step of the process. But oftentimes, some agents post the listing on MLS and then do nothing to promote it.

The sellers that hire these realtors are unaware of the realtor’s lack of professionalism. The seller assumes that the realtor they’ve hired is someone they can trust.

Another trap that sellers fall into when

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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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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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 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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