I want to sell my home but is now the right time?
Four reasons to list your home TODAY:
- A trend that began in spring 2009, the number of homes on the market has been down month after month. In fact, listings are down in every community in the Greeley Metro area! What does that mean for sellers? Less competition!
- Homes are selling quicker. Overall, homes in our Northern Colorado communities are selling in fewer days (even up to a month faster in some areas) than they did in 2008 and 2009, on average.
- Home values are leveling off and even increasing! Some of our communities have seen values increase over last year, which is great news for sellers! Some areas have not seen home values increase, but overall, those communities have not had values decrease in 2009.
Keep in mind, all real estate is local (even down to a particular neighborhood). Speak with a professional for an honest evaluation of your home!
- Tax Credits are expiring SOON! The First-Time Homebuyer Tax Credit expires April 30, 2010 (June 30, 2010 if a contract is signed by April 30th). You could miss out if your home is not on the market while buyers are taking advantage of this credit.
Source: Ires Statistics January/February 2010
Areas included: Ault, Eaton, Gilcrest, Platteville,
Nunn, Greeley, Evans, Windsor, Severance,
One of the most important parts of the selling process (next to determining the RIGHT price) is showing the home...and showing it well!
Sellers: Your real estate agent will give you advice on how to make your home "show ready."
Also, see our Showing Guide for more helpful tips.
Buyers: Read our article "Is it a Buyers Perfect Storm?" for information about viewing homes.
The average number of days on the market is down significantly in Greeley/Evans from 2008. Residential-detached homes are currently averaging 73 days on the market, compared to 87 in 2008. Attached homes (townhomes, condos) are averaging 100 days verses 114 this time last year! This is a good sign that the Greeley/Evans market is moving.
October sales held steady in the Windsor area. 68 homes sold in October 2009, while 67 sold in October 2008. Homes did sell for closer to their listing price in 2009, selling for 96.07% of list compared to 95.05% in Ocotber 2008. This is an indication that sales are remaining steady but prices may be creeping back up.
Although more homes sold in October 2008, the value of homes sold in October 2009 was much higher. The median sales price was $157,900 in 2009 (homes also sold 97.11% of list price) verses $125,000 median sales price in October of 2008! Homes selling this time last year were priced less overall and sold for less than their listing price, on average.
Windsor Area refers to Windsor, Severance,
Johnstown & Milliken
Smaller Communities refers to Ault, Eaton,
LaSalle, Nunn, Platteville & Gilcrest
If you have heard news reports recently you may have heard that US home sales have been up each of the last four months. Great news for the US housing market, but what about the Northern Colorado area?
We are on the rise, too:
-So far, the month of August has seen an increase of 13% in home sales in the Greeley area over the entire month of July.
-While markets across the country have seen huge drops in median home prices, the Windsor area's median home price is actually higher than in 2008.
-Foreclosure sales are much lower. In fact, sales of foreclosures in the Greeley metro area have decreased by more than 20% year-to-date over the same time last year!
The Northern Colorado housing market seems to be getting stronger and stronger!
*All statistics are taken from Ires, the MLS system used by our office. Statistics through 08/26/2009.
Buying or selling a home, you know that the appraisal is an important part of the process. Nearly all real estate transactions that include a mortgage or loan also include the lender requesting an independent appraisal before the loan approval is final.
There are many myths about what an appraisal really means in a real estate sales transaction. The National Association of Realtors has put together a list of the top myths regarding appraisals. Here are a few highlights:
- The appraisal is done to protect the buyer from overpaying.
- Although an appraisal can give a potential buyer another opinion on the price, the primary reason an appraisal is done is to protect the lender from lending more than the value of the collateral (the home).
- Appraisers use a specific formula to place value on every home.
- Appraisers use many factors to determine a home's value ranging from square footage and condition to location and sales of comparable properties. There is no one formula that can place an appropriate value since each home is unique.
- Anyone can be an appraiser.
- Not true. Federal law requires each state to maintain standards and/or licensing requirements for appraisers including educational and experience requirements.
Visit the National Association of Realtors website for more information.
With rising energy costs, home buyers are more and more aware of energy efficiency. In fact, according to the National Association of Realtors 2008 Report of Home Buyers and Sellers, nearly half of all home buyers consider a home's heating and cooling costs very important in their decision!
More than a quarter of home buyers considered energy efficient appliances to be very important. Many also looked at a home's lighting and it's energy efficiency. The study also found that a number of buyers were interested in landscaping that helped to conserve water as well.
Energy efficiency can help save money and is environmentally sound. Buyers are increasingly more aware of energy costs and their role in maintaining a healthy environment. Contact one of our agents for more information on increasing your home's energy efficiency!
Starting July 1, 2009, all homes that are offered for sale or for rent must comply with the law the Colorado House of Representatives passed this year (HB-1091). The law states that a carbon monoxide detector must be installed in all homes with a fuel-fired heater or appliance, a fireplace or an attached garage. Detectors must produce a distinct, audible sound and must be installed within 15 feet of all rooms lawfully used for sleeping. If there are multiple levels in the property, it may be necessary to have more than one carbon monoxide detector. The Colorado Real Estate Commission addresses the new law in both the residential listing agreement and the sales contract.
1. Top to Bottom. Always start at the top of the room and work your way down. Dust starting with the highest item first, then vacuum the floor.
2. Streak-Free Windows. Don’t clean windows while they are in direct sunlight. Your cleaning solution will dry too fast. Paper towels leave lint..instead, use newspapers (wear rubber gloves to keep your hands free of ink), coffee filters, or an old t-shirt for a lint-free shine.
3. Mirror, Mirror on the Wall. Remove hair spray from a mirror with a little rubbing alcohol and a soft cloth.
4. Creative Uses for Dryer Sheets. Hang a sheet outdoors to repel mosquitoes. Wipe TV and computer screens to reduce static electricity. Place a sheet at the bottom of a wastebasket or laundry hamper to help eliminate odors.
5. Quick Microwave Cleaning. Put a 4-cup capacity microwave-safe bowl filled with chopped citrus (oranges or lemons) and 1-cup of water. Cook until the water boils. To prevent scalding, let the water cool for about 15 minutes before wiping down the microwave.
6. Ceiling Fans. Place a cotton tube sock over a feather duster and attach to an extension handle. Run it across the top and bottom of the blades to remove dust and dirt.
7. Bathtubs & Shower Walls. Clean bathtubs with a cheap hair shampoo and a scrub brush. When using an all-purpose cleaner on shower walls, let it sit for 5-minutes, then scrub with gentle pressure. To remove lime (white and murky) from shower doors, wipe them down with lemon oil. Dislodge mildew and mold by applying hydrogen peroxide straight from the bottle, soak for five minutes then scrub with a grout brush.
8. Quick Wet-Mop for Tile. A few shots of an all-purpose cleaner and a damp microfiber mop will do the trick in just a few minutes without the dirty water bucket!
9. Closets and Storage Rooms. If you’re a pack rat, set aside a couple of hours to clean out your closet or storage room. Get three boxes and mark them, “Trash,” “Out of Place,” and “Charity/Garage Sale.” Evaluate each item honestly!
10. Do a Little at a Time. Cleaning a little bit at a time often accomplishes more than becoming overwhelmed with the tasks at hand. Set a kitchen timer for 1/2 hour and see how much you can get done...you may be pleasantly surprised with the results!