Category Archives: Selling Your Home

Free Resource Guide for Selling Your Home

Selling Your Denver Home

Questions to consider when selling your home

This year in the Metro Denver market we have had a strong appreciation, where home prices are returning to their former levels.  Many homeowners who were “underwater” with their mortgages are now finding they have equity.  This is good news because it opens up the opportunity for homeowners to sell.

Is now a good time to sell?

In a word, yes!  Due to the high demand for homes to purchase, sellers are enjoying a “seller’s market”.  A seller’s market is defined by the “days on market”.  When the days on market is 25 weeks or less (6.25 months), it is a seller’s market.  We go even further to define the seller’s market as “Extreme Seller’s Market” when the available inventory is from 0-12 weeks.

How do we calculate the number of weeks inventory?

This is a simple math calculation.  The number of homes for sale (during the month) is divided by the number of homes sold (during the month)=weeks of inventory.

This is not a perfect calculation as these numbers fluctuates as home come on the market. But still, it gives us good guidance as to know if values are increasing or decreasing.  This is important for a home owner to know when they are preparing to sell.

How do I determine the price?

As a Realtor, I can evaluate these numbers when preparing a pricing strategy for the home.  Looking at comparable sold properties that happened in the past is one portion of pricing equation.  One needs to evaluate the future home price based on demand.  The value could be significantly more if there is a great demand for the home.

At the same time one needs to be very cautious about getting to aggressive and over-pricing the home.  Over-pricing can be detrimental in the long run, causing the home to become “shop-worn” from being on the market too long.  Buyers are weary of homes that don’t sell quickly. They are concerned that there is “something” wrong with the property they might not be able to see.

How long will it take to sell my home?

Good question and one that I can only answer based on past history.  I look at the “days on market” other homes in that price range and neighborhood have sold for and usually can give you a good estimate.

Right now in Metro Denver the days on market varies by price range.  Of course it only makes sense that more houses sell in the “average” and below price range than above.  If your home is in the average or below price range it stands to reason the timing for sale will be very similar.

There are extenuating factors that could change the days on market

  • Condition
  • Location
  • Accepting a contract with buyers who aren’t qualified, committed, reasonable

Condition of your home has a bearing on who will buy it.  If your home is in need of updating or major repairs, not everyone in the market is up to do that.  The home will need to be priced right so buyers who want to do repairs can afford to purchase AND do the repairs.  There are many companies that will offer to “buy your ugly house” but beware they are in the business to make a profit and the offer they give you will be a “wholesale price”.  I can guarantee I can find a buyer for more than they will pay you, including what you need after you pay me!  

Location is really a tough one. You’ve probably hear the real estate mantra, location, location, location.  Well if you are in a good location, you did well.  If you purchased in a poor location or the location has gotten poor since you bought, you will just need to deal with it.  That means compensating for it in price or providing irresistible terms to a buyer.  There are many strategies to get you out of a bad location, it all depends on the situation.

Don’t despair just remember “one man’s house is another man’s castle.”

Contract fallout is a huge issue right now with our fast paced Metro Denver real estate market.  Buyers are literally purchasing homes and then getting buyer’s remorse and walking away from the contract.  I think it’s because the competition demands that they act before they have fully digested the big decision they are making.  People really need to have choices. When that is taken away from them they become uncertain.

How do we prevent this?  Working with the seller, I dig as deep as I can into the buyer’s qualifications.  Just because they wrote an offer doesn’t necessarily mean they can and will perform.  By researching their qualifications and asking more questions I hopefully can ferret out the unserious buyers.  It means a lot to my sellers when they have the piece of mind the transaction will go as planned.

Free Guide: Things to Consider When Selling Your House.

Keeping Current Matters offers a wonderful resource guide for Home Owners with questions about selling their homes.  You can click on the link below that will take you to my Evernote account where you can download/view the book at your leisure.  If you have questions about the local market, please feel free to send me an email or call.  I welcome your contact!

Image-SellerGuideSummer2014

Download your free guide here

Click here for English Version “Things to Consider When Selling Your House

Click here for Spanish Version “Que Cosas Tener En Cuenta Al Vender Su Casa”

 

The Importance of Using a Realtor When Selling Your Home

8.4-real-estate-internet When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s’ behavior during the home buying process. Today, 92% of all buyers use the internet in their home search according to the National Association of Realtors’ 2013 Profile of Home Buyers & Sellers.

However, the report also revealed that 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know. Buyers search for a home online but then depend on the agent to find the actual home they will buy (52%) or to help them handle the paperwork (24%) or understand the process (24%).

It is true that the percentage of buyers that are using the internet to search for homes and information on the home buying process has increased dramatically over the last decade. But the plethora of information now available has also resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.

BOTTOM LINE

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

rePublished with permission from KCM Blog

Selling Your Home? Don’t Make These Mistakes!

Spring time is approaching and many Metro Denver home owners are planning to sell in 2014.

Selling a home takes planning and preparation as you don’t live in a home the same way you sell it.  Any seller who has tried to do so will probably tell you the best thing to do is spend time making the home look fabulous BEFORE you put it on the market.

As an agent, I know for fact the more time a home owner spends sprucing up the home the less time it spends on the market.  This fact translates into a huge convenience factor, as few home owners appreciate having to vacate their home every time it gets shown.

Showing Availability

When an agent wants to come by with clients to see your home, don’t play “let’s make a deal” with the showing time.  Your house is on the market for sale. The agent and their clients typically have a list of homes to see and if you make it inconvenient for them to see your home during that time allotment, chances are they won’t even look at it!

Repairs are part of Home Maintenance

Repairs of safety and health issues are repairs you need to make immediately.  Leaky faucets, dirty chimneys, locks that don’t work with ease are all things you are going to need to fix.  Why not have your home pre-inspected by a professional?  By doing this you place your home above all the competition, making it even more attractive to a buyer.  Having a home in good repair reflects very well on you and gives the buyer the confidence he’s not buying a “problem money pit.”

Over Priced

Pricing is so sensitive these days.  Making the mistake of pricing you home out of the market is not advised.  The longer your home stays on the market the more “shop worn” it will get.  Your agent will need to respond to inquiries like, “why has it been on the market so long?”  Buyers think there must be something wrong with it when it doesn’t sell in a normal amount of time.  The longer it stays on the market the more likely an even bigger price reduction will be needed.  Price it within the market or slightly, and I do mean slightly higher and you will sell quicker and for more money!

Unwilling to Negotiate

Negotiation is not always about price.  Often a good negotiation is when both parties get what they want.  That may be a lesser price or it could be a bigger convenience.  No two negotiations are the same so keep an open mind when negotiations start, have a  Plan B and C incase Plan A doesn’t work out.

Unpleasant Odors

Simply put, “if you can smell it, you can’t sell it.”  If your house can’t pass the smell test you need to do something quickly.  Smoke? Stop.  Carpet dirty? Have it professionally cleaned.  Pet odors? Not everyone enjoys the smell of a wet dog, Keep Fido or Puffy elsewhere for awhile.  There are companies that specialize in removing odors.  Hiring one might be the best decision for your sale.

Successful Sale

A successful home sale begins long before the home goes on the market.  I begin with a consultation and then I bring in the stager.  She helps my home owners see their homes through the eyes of the potential buyer.  Her staging advice and my marketing strategy help educate the home owner and set them up for having a good experience during the sale of their home.

 

Data provided by ActiveRain.com.
ActiveRain is an online community of real estate professionals who exchange best practices, write real estate blogs, and get free education from the industry and their peers.

Home Owners – The Time to Sell is Now!

SlimPickensDenverRealEstate-KristalKraft

Denver Real Estate News

Housing inventory is down, buyers of homes are having a hard time finding homes to look at, much less purchase.  This may be news to many, because it seems just a short while ago we couldn’t see the end of distressed homes and other homes coming on the market.  Well those days are gone!

If you are a homeowner that became a landlord because there was no other choice, your time to sell may be here!  Values are increasing in Metro Denver.  If your mortgage was “upside-down” before, that has changed or is in the process of changing.

Don’t wait!

The dynamics in the market could be short lived.  Currently we have extremely low interest rates with many buyers wishing to take advantage of them.  If the rates go up (an they will!) the purchasing power of buyers will go down.  This effects the sale amount buyers can afford, and ultimately it will effect the increasing values that we see now.  We don’t know when interest rates will go up, but when they do the market will slow down.

Are you a reluctant Landlord?

If you have a rental home that you would like to sell, but it is leased, you can still sell your rental, lease and all to a buyer.  We have buyers ready and waiting!

If your tenant’s lease is going to be up soon, we can work together with them to have a closing that compliments the end of their lease.

Scarcity & Demand = Good News for Sellers!

Whether you are a homeowner who is looking to move up, downsize, short sell, reluctant landlord waiting for the right time, now is a good time to sell.  The lack of inventory in the market means buyers are competing, they come prepared to pay more than the next guy, they tend to not ask for the picky things to be fixed and they appreciate the opportunity to own a home.  A homeowner couldn’t ask for a better situation to be in.

Just need to talk?

Having solid information before you make your decision is important.  I can help you.  Let’s talk about your options, is it truly the time to sell? How much is your home worth in today’s market?  How much will it cost to sell your rental home?  These questions can be answered, just call.  I welcome your call.

P.S. If you haven’t seen your rental in a long time, perhaps you’d like a picture?  Call me.  I’ll drive by and email you a photo of your rental.  It’s nice to know all is well!

 

Should You List Your Home During the Holidays?

Trail of Lights – Chatfield Barn

Metro Denver Home Sellers

Have you heard that real estate slows down during the holidays, so there’s no sense in listing until January?

If so, you’ve only heard part of the truth.

The number of showings does slow down, but the reasons for that are not reasons to wait. It may surprise you, but one reason is that there are fewer agents working. Some of them have bought into the idea that business is slow, so they’re taking time off. They’re not advertising their services or marketing their existing listings. Some aren’t even returning their calls.

Another important reason is that the people who are in no hurry to buy are doing other things.  That means serious sellers aren’t bothered by non-serious buyers.

Those who search for a home during the holidays are usually serious – they’re looking because they need to buy. Perhaps there’s a job transfer in the offing and they need to find a new home soon. Perhaps their children’s school holiday is the only time they can come to town. Whatever the reason, they’re taking time out from their own holiday celebrations to hunt for a home.

Wouldn’t you like to have your home shown to that kind of buyers?

While it’s true that I won’t be available on Christmas Eve or Christmas Day, I’ll be here working just like normal the rest of December. So if you’re serious about selling, get in touch today.

Let’s get your house on the market and ready for those serious buyers.