Real Estate: Tips Tricks
Colorado House Selling Tips
- Check out your competition. When you hire an agent to sell your home… your paying that agent around 6% of your homes selling price. Have them also show you the homes in your area that you’re in direct competition with; such as open houses and/or vacant homes. Have them point out which homes are comps to your home. Knowing this can help make sure your home stands out above your competition.
- Get real about pricing. In a buyers market, the buyer has plenty of time to work the market; therefore, they know what the comparable solds are and what the fair market value is. Make sure your agent has pulled at least 3 comps that are the most similar to your home. For example: SqFt should be within +/- 100 SqFt, Beds/Bath/Garage should be the same, siding (stucco vs siding), floor plans (Ranch vs Tri-level vs 2-story), same school district, etc.
- Comps should be the SAME as your home. Wither you have children or not, a school district can impact home prices (Colorado Springs: Dist 12 vs 20 vs 49). Which side of a street (literally) and/or development you live in can really change the price of two identical homes in different areas (North of Woodman vs Woodman to South Carefree vs Rockrimmon vs The Broadmoor).
- De-personalize: if you like bright colors and your home looks like a rainbow… you might be better served by using earth tone wall colors with eggshell white ceilings. Additionally, the numbers show homes painted “blue” tend to be the slowest moving homes. The following colors are also NOT recommended: Black, Lime, Orange, Pink, Red, White, Yellow, and neon colors.
- De-clutter: a clutter free home looks bigger and allows potential buyers to easily see themselves and their belongings in the home.
- Listen to your agent/broker… however, if you feel your being mislead… think about trying another agent/broker. NOTE: We are NOT Real Estate Agents/Brokers. However, if you need assistance finding an agent in our local areas (Castle Rock, Colorado Springs, Fountain, and Security/Widefield), please contact us and we can suggest some agents/brokers that we work with.
How To Get “Views” On Your Colorado Home:
- Most home buyers are viewing from their home. If you have a decent smartphone, consider using the video capability and walk through your home (inside and out) and your neighborhood. Take this opportunity to promote your home and the surrounding areas; sell the best parts. What do you and your family love the most about the area. People want to be able to visualize and feel like they are there. Sell it. Once you got your video, post it to YouTube. If you don’t have a smartphone with video, consider purchasing one from your local tech/computer store.
- If you partake in the social media circles, consider posting your home for sale on Facebook. When you consider the power of 6-degrees of separation; how many people do you really know and have the potential to reach when you know 100 people, who each know another 100 people, who each know another 100 people…
GRGP -vs- For Sale by Owner (FSbO) -vs- Realtor:
- More money in your pocket
- You Show the House
- You Market the House If your comfortable with these, the pros may be worth your effort/time.
- 5-6% Realtor Fee
- plus, 2-3% Closing Costs
- plus, 1-2% Misc./Fix-up Costs…
- Total = 8-10% of Sell Price
Best Season/Time to Sell your Colorado House:
Pre-Spring: 4 months, 20 days, 18 hours, 3 minutes ago
Start staging house for market.
Consider your asking price; what have comparable home sales done during the last 3-6 months (trend up/down/flat). Comps should be in your development and in your school district.
Spring: 3 months, 20 days, 18 hours, 3 minutes ago
Best Month: Consider listing your house for sale on the 1st of April; Colorado Home Sales are statistically better in April.
Realtors who have been in hibernation during the winter are now refreshed/hungry and ready to go. Also consider the average days a house is on market in Colorado is right at 45 days. In high volume areas maybe 7-days; in the less volume areas 90-120 days. So make sure you have factored that into your homes selling price; how fast you want your home to sell vs. knowing that a realtor will ask you to drop the price after 30 days vs. looking overpriced and now desperate to sell.
Tax Deadline: 3 months, 6 days, 18 hours, 3 minutes ago
Like you have enough things to worry about… now its time to pay Uncle Sam.
More of a frame of reference, reminder of where you should be regarding your goals of when to sell your home.
Summer: 2 months, 10 days, 18 hours, 3 minutes ago
If you missed April, consider listing your home for sale on or around the 11th (+/- 10 days) of May.
This is not the first day of Summer; however, it is the point in Colorado when our environment is safe for planting and growing. Houses tend to look and feel better when the grass/trees are green and flowers are blooming. Houses that listed April 1st and have not sold are now 30+ days on the market… at this point their realtors will start asking to lower the price and/or start playing the remove/relist game to reset the MLS days on market.
School Out: 1 month, 20 days, 18 hours, 3 minutes ago
A lot of real estate closing dates (contracts from April/May) occur during school break when families can move from one school district to another. However, in regards to showings that result in an offer to purchase your home, June has been one of the slowest months to sell a home in the Colorado area due to high supply/low demand. This might be a good time to assess your competition by having your realtor show you the comps and/or visiting some Open Homes on your own.
NOTE: Families tend to take vacations during June; watch out for all the little ones out playing.
Back to School: 11 months, 20 days, 18 hours, 3 minutes ago
Most kids should be headed back to school around this time.
Another milestone, in Fall… consider supply/demand, home prices may start tapering off soon.
Fall: 9 months, 29 days, 18 hours, 3 minutes ago
Considered to be late to market.
Colorado home sales appear to cool off during this time. If your home is not in top condition, consider offering concessions ($3-5K Lowes/HomeDepot for paint or carpet) to entice anyone that may be looking to relocate. If you have to sell your home fast, you may really have to consider lowering your asking price to a break even point; keep in mind selling/closing with a realtor also comes with that 10% fee. Would be home buyers in this time frame may also come with offers contingent on selling their current home first. Consider the costs of holding the home through the Winter until the next ideal selling period 3 years, 3 months, 20 days, 18 hours, 3 minutes ago.
Winter: 7 months, 20 days, 18 hours, 3 minutes ago
This is not a great time to sell a home and move in Colorado; however, some sites like Zillow use data points to support November/December as being a good time to sell real estate due to those who are left in the market; Sellers/Buyers during this time frame are the more serious groups. If this is the time you have to sell your home and move; it is, what it is. Keep the house warm, clean, and inviting.
Let us know if we can be of further assistance.
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