Why you should not rule out selling your home in the winter months

Why you should not rule out selling your home in the winter months

Winter will here before we know it, but that should not give you any concern at all if you are considering putting your home on the market for sale in the next few months.  Here are my reasons why:

1. The winter market can be less competitive for Sellers since many families will wait until Spring to list their home. Economics 101: Supply and demand.  Supply goes down, price goes up. This creates a unique opportunity for a Seller to make a little more money just by selling in the Winter months.

2.  The smaller amount of inventory in the form of active listings will allow Sellers to get more attention from a bigger pool of Buyers. This bigger pool of Buyers creates another unique opportunity for Sellers in the Winter months.  A bigger pool of existing Buyers will typically translate into shorter times before a Seller can expect an offer.  

3.  Many people do not know this, but many larger corporations will transfer existing employees or hire new ones early in the new year. During this time period, and especially in larger metro markets like Denver and Colorado Springs, this activity tends to produce highly motivated Buyers for Sellers listing their homes in the Winter.

4.  Buyers looking to purchase in the winter tend to be more bound and determined to buy. Most folks will not do a great deal of window shopping in the harsher weather months of December and January like they tend to do in warmer months like March and April. Listing your home in the Winter will likely eliminate some of the 'lookie loos' of the Spring months.   

To support my rationale, I found a study that came out in late December, 2013 from the online brokerage firm, Redfin. This study found that Sellers net more above asking price during the months of December, January, February, and March than they do from June through November. Further, homes listed in Winter sold faster than those listed in Spring. The likelihood of selling a home when listing in Denver broke down like this:  If you listed your home in Winter, you had a 77% chance of getting it sold in six months or less, in the Spring, you had a 64% chance, in the Summer, you had a 63% chance, and in the Fall, you had a 68% chance.

Winter is coming friends, and numbers don't lie! If you are needing or wanting to sell your home in the Winter months, you can and with confidence! Feel free to give me a call.

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Why Buyers Should Get Sewer Inspections

Why Buyers Should Get Sewer Inspections

A lot of first time homebuyers may not be aware that sewer inspections are not part of your routine home inspection. This is so important. Buying a home & moving is stressful enough as it is. Finding out that you have a bad sewer line after closing would just add to that list. Sewer line inspections can range from about $150-$300. Plumbers will inspect the line to see if its bellied, split, offset, collapsing or clogged with tree roots. They will also check the material of the line as well. This has become important because construction in the 1950’s, utilized a tar like cardboard called Orangeburg. This type of material is known to just fall apart & collapse resulting in very costly repairs.

Even if your potential dream house wasn't built in the 1950's, a sewer inspection might be a worthwhile cost. If there are issues encountered during the inspection, you’ll want to be sure to have your plumber record a video of the line so that it can be provided to the sellers. Sewer line replacements or back-ups can cost thousands of dollars and the repair or replacement of the line is usually EXCLUDED by most insurance companies. Sewer inspections are easy. You can ask your Realtor for a recommendation, or call a plumber of your choice. It's worth the peace of mind & security, knowing that there aren’t any hidden issues in your new home. 

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5 Things To Do this Weekend in Colorado Springs

5 Things To Do this Weekend in Colorado Springs

Pine Forest Spring Show and Sale, Lewis Palmer High School, Sat 10-5, Sun 11-3.

Admission: $6. Sponsored by the TriLakes Women's Club, this event has over 100 bakers dishing up their goods as well as gourmet food trucks for the first time this year. You can also enjoy antiques, craft items, birdhouses, garden art and more. The TriLakes Women's Club is celebrating their 40th year of putting on this great show. For more info: www.tlwc.net

 

Great American Cleanup, Sat. April 23 9 am, various sites around the Pikes Peak Region.

Admission: Free. A great day to volunteer and help cleanup your community including roadways, waterways and trails. The Sierra Club helps out with a cleanup of Monument Creek, meet at Roswell Park 515 W. Polk at 10:30 am Saturday. For other locations, visit www.gacppp.com

 

Woodland Park Wind Symphony World of Windcraft, Sun April 24, 1:30pm, Ute Pass Cultural Center

Admission: Free. Rescheduled from last weekend, The Woodland Park Wind Symphony pays tribute to video game music. This show will be fun for both the old school video game lovers as well as people playing the current video game offerings. Come dressed as your favorite Video Game Character and enter the costume contest which will be followed by the concert. For more info: www.woodlandparkwindsymphony.com

 

International Sculpture Day Celebration, Sangre de Christo Arts & Conference Center, Sun April 24.

A community sculpture installation will take place on Sunday using publicly donated lamps. At 7pm, a lighting ceremony will highlight the exhibit. A reception, community sculpture walk, food trucks and music by the Change Agents is also planned. For more info: www.sdc-arts.org

 

Go to Kelly's Open House, 4545 Bridle Pass Dr, Colorado Springs 80923, Sat & Sun 1-3pm. Pikes Peak Views!

2 Story stucco home with 4bd/4ba/2.5car garage. Walkout basement includes a wet bar, exercise & theater area. This floor plan is great for entertaining with an open kitchen & vaulted ceilings in the living area. The kitchen features tons of storage, corian counter tops & recently updated stainless steel appliances. Main level office includes built ins. Large deck & 2 patio areas. The master bedroom overlooks Pikes Peak!! 5 piece master bath & so much more. This home has been well maintained & it definitely shows!! For more info: http://www.springshomes.com/mls/5766751-4545-Bridle-Pass-DR-Colorado-Springs-CO-80923 . 

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Crazy Good Real Estate Market

Crazy Good Real Estate Market

It is a good real estate market for sellers right now. And it is a crazy real estate market for buyers right now. Sellers are getting top dollar for their homes, and often times they are seeing bidding wars and multiple offers in the under $300,000 price range. Buyers, on the other hand, have to act fast when they find that perfect home. Most likely, they will have competition for it and the highest offer will get the deal.

Here is how our market was doing, as of the end of March:

TOTAL HOMES FOR SALE        :     1,941 (down 23.5% from same time last year)

AVERAGE HOME SOLD PRICE :     $267,451 (up 4.3% from same time last year)

TOTAL HOME SALES                :     2,891 (up 22.4% from same time last year)

AVERAGE DAYS ON MARKET   :     47 (down 53% from same time last year)

MEDIAN PRICE                        :     $239,500 (up 6% from same time last year)

Although it remains a seller's market in most cases, it does change to a Buyer's market at approximately the $450,000 price range. At that point buyers still have multiple properties to pick from and can probably expect some concessions from the seller. Full price offers are not as common at this point. 

My advice...buy while you still can. Home prices are going up this year. I suspect interest rates will rise, too. Real estate won't be any cheaper a year from now.

 

 

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5 Things To Do this Weekend in Colorado Springs

5 Things To Do this Weekend in Colorado Springs

Clifford The Big Red Dog, A Big Family Musical - Sunday April 3rd, Pikes Peak Center

Admission: Varies. In this musical adventure, Clifford and Emily Elizabeth will take audiences on a journey with their friends to learn about Clifford’s BE BIG!™ Ideas - Share, Play Fair, Have Respect, Work Together, Be Responsible, Be Truthful, Be Kind, Help Others, Believe In Yourself and Be A Good Friend. Tickets may be purchased online at http://www.PikesPeakCenter.com, all TicketsWest locations by dialing 520-SHOW or by visiting the Pikes Peak Center or Broadmoor World Arena Box Offices.

 

The Big, Cool Science Festival, Saturday April 2nd, Barnes Science Center at Colorado College, 10am - 3pm

Admission: Free. Fun for all ages. Engineering projects, tours, interactive displays and demonstrations will be sure to inspire everyone. Preregistration is recommended at, http://goo.go/Jd67SC. Donations accepted at www.coolscience.org/BCSFCC .

 

Colorado Springs Philharmonic: Music of Pink Floyd, Saturday April 2nd, 7:30pm, Pikes Peak Center

Admission: $33-$60. The orchestra rocks out with Pink Floyd's biggest hits such as "Money", "Learning to Fly" and "Comfortably Numb". Conductor Brent Havens brings the orchestra and a rock band together like you never have heard them before. You don't have to be a Pink Floyd fan to enjoy this. More info at www.pikespeakcenter.com

 

Walking Tour of Downtown Breweries, Saturday April 2nd 1pm - 5pm

Admission: $45. Tour 4 downtown breweries and imbibe in special samplers at each one. Triple S Brewery is hosting this event which tours Triple S, Phantom Canyon, Fieldhouse and Ironbird. Listen to the brewers talk about each of their processes and the history of brewing in Colorado Springs. Reserve your spot at www.triplesbrewing.com or 719.344.5477.

 

Colorado Springs Comic and Toy Con, Saturday April 2nd & Sunday April 3rd 12pm-7pm, Double Tree Hotel 1775 E. Cheyenne Blvd.

Admission: Free, donation to Make a Wish suggested. Come peruse the wares of vendors from all over Colorado as well as Nevada, Texas, Nebraska and New Mexico. There will be plenty of memorabilia, comic books, gaming and aficionados to make it a smashing success. More info: www.cospringscomicandtoycon.com

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