Should You Sell Your Home in the Spring or Fall?

Should you put your home on the market this fall or should you wait until next spring? Which season is better for home sellers?

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Does it make more sense to wait until spring to put your house on the market, or should you list your home in the fall? I did some research and figured I’d share the data with you.

In the past, it was true that summertime had the highest sale prices. However, that trend started changing in 2014. 

In 2014, the average sales price was $273,166. During the months of October, November, and December, the average sales price was $336,855. That is a $60,000 increase over the average for the year. Why is that?

It all boils down to supply and demand. Since everyone waits until spring to put their homes on the market, there were 6,400 new listings and 4,200 sales in March, April, and May of 2014. If you look at October, November, and December, there were only 3,200 new listings and 3,770 sales. Although there were fewer sales, demand was so high and inventory so low that the homes sold for more money than they would have in the spring.

It makes more sense to sell in the fall when there is less competition on the market.

In 2015, the same phenomenon occurred. In March, April, and May, there were 6,000 new listings and 4,300 sales. In October, November, and December, there were only 3,500 new listings but there were still 4,300 sales. The average sales price remained close throughout the year; in spring, it was $383,000 and in fall, it was $380,000.

If you are looking to sell your home for more money, it makes more sense to sell in the fall, when you have less competition and there are more serious, motivated buyers out there who want to get into a new house before the holidays.

If you have any questions about preparing your home for the market or about real estate in general, give me a call or send me an email. I would be happy to help you!

How Has Real Estate Changed in 30 Years?

What’s changed in the last 30 years for the real estate industry? From cell phones to new pricing strategies, the current real estate industry is much different than it was when I first got licensed.

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What’s changed in the real estate industry the past 30 years? A lot!

Cell phones have really changed over the last 30 years. I was given a phone when I first got my real estate license back in 1986, and the case for this phone is the size of most laptops today!

Back then, people would get into my car and I would tell them which homes we were going to look at. These days, people get into my car with a list of homes they want to see! So, what’s changed?

The Internet impacted the real estate market in a big way. Most buyers begin their home search online. As I’ve said before, professional photography is crucial to the home selling process. When buyers look at your home online, the pictures of your house have to grab their attention.

The internet has had a huge impact on the real estate industry.

How you price your property has also changed. Three decades ago, a common pricing strategy was to list the home for $199,000. That is not how we price homes today. The best way to capture more attention for your listing is to price it on a cusp. Instead of using the old pricing strategy, we would recommend listing your home at $200,000.

Why? If your home is priced at $200,000, buyers who are looking at homes priced between $150,000 and $200,000 will see your home, as will buyers who are looking at homes priced between $200,000 and $250,000. By pricing your home on the cusp of two price ranges, you will reach more buyers. If your home was priced at $199,000, your property would only show up in one search, and you would have one of the highest priced homes on that search. Pricing your home on the cusp doubles your exposure.

Real estate has certainly changed in the last 30 years, and we have a couple of other great new strategies that can help you sell your home. If you have any questions about our current real estate market, give us a call or send us an email. My team and I would be happy to help you!

Can You Trust a Zestimate for Home Value?

Why are Zillow Zestimates so wildly inaccurate? Zillow simply has no way of seeing the inside of your home, including finishing touches and upgrades to your property.

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Today I wanted to talk about how Zillow Zestimates are so wildly inaccurate.

I recently came across an interesting article – Zillow CEO Spencer Rascoff sold his house in Seattle in February of 2016 and the Zestimate was off by 40%! Click here to view the full article.

How can they be so far off?

Unless they have walked through your property and seen your finishing touches, any upgrades to the home, or any views your property has, it's hard for them to get it right.

Zillow's CEO sold his home in 2016 for 40% less than the Zestimate.

Where they really get it wrong is in the Colorado luxury market. The only way to get an accurate value for your home is with the help of an experienced local real estate professional.

If you'd like to get an accurate analysis of your property from a local expert, give me a call or send me an email. We'd love to help you out!

The Importance of Professional Photography

In our current real estate market, professional photographs are incredibly important when you are selling your home.

Now that over 95% of buyers begin their home search online, these photos are more important than ever before. As they say, you have one chance to make a first impression, so the photos of your home should be stunning.

Properties on the MLS that have dark, grainy photos or no photos at all will not attract buyers. In fact, if a property on the MLS doesn’t have any pictures, buyers tend to think that the house must be a dump!

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If there are no photos of the home online, buyers will think something is wrong with it.

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I recently took over a listing that didn’t sell because the photos were so bad. When I got to the property, however, the house was actually beautiful. The previous agent simply didn’t post good photos online, so buyers were not inclined to see the home in person.

When you are selling your home, hire an agent who will give your house the kind of marketing it deserves. We will take great care of you. If you have any questions for me, give me a call or send me an email. I would be happy to help you!

Shave Years Off the Life of Your Colorado Home Loan

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I’m here with a great tip that can save you tens of thousands of dollars over the life of your home loan.

Instead of paying a monthly mortgage payment, divide that payment in half and pay half every other week. That way, your lender will get 13 payments a year instead of 12, which shaves years off the life of your loan.

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You will save tens of thousands of dollars with this tip!

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For example, let’s say you have a loan amount of $417,000. By implementing this tip, you will save $56,800 over the course of your loan. That’s a lot of money!

If you have any other real estate questions, give us a call or send us an email. My team and I would be happy to help!