The Colorado Springs Real Estate Market is Changing
In the spring of 2017, the real estate market in Colorado Springs took off and stayed steady until late summer of 2018. While the market is still solid, it’s not as aggressive as it was previously and Sellers who want to sell need to be prepared that it is no longer a matter of putting a price on their house and a sign in the yard. We are back to a market where experience makes a vast difference. Here are five things Sellers need to know to sell in the Colorado Springs changing market.
Needs to be Priced Properly
No matter what type of market we’re in, houses need to be priced properly, but even more so as we come out of the free-for-all market of the past few years. Don’t let The Price Wizard deceive you into thinking you can demand any price. For a home to sell in a timely manner, it must be priced appropriately for the market.
Needs to be in Good Condition
In the recent strong Seller’s Market, it wasn’t as important that the property be in pristine condition. There was so little inventory that Buyers were willing to overlook needed repairs in an effort to win a bid. In this changing market, Buyers are more inclined to ignore anything but The Shiny Penny – houses that show the most favorably.
Might Not Sell as Quickly
For the past few years, a home that was well-priced generally had multiple offers within a day or two of being offered for sale. Not so as we head into the post-Christmas market in the early days of 2019. There is a hesitation we haven’t had in a while, and although we are still in a secure market, houses are taking a little longer to go under contract.
Know Your Competition
Before you put your home on the open market, check out your competition. Take a look at what’s available in your area and in your price range, and even in your price range in other parts of the city. See why houses are either selling quickly or why they might be languishing. It will help if you know what other homes prospective Buyers will be seeing when they are also viewing yours.
Experienced Agents Matter More than Ever
When the market is sizzling it’s easier to not be as concerned with the Realtor you hire. Sellers often believe the main job of an Agent is to bring them a Buyer, when the truth is anyone can find Buyers in any market when a house is priced appropriately. But when your house isn’t selling, you need someone with a proven plan and a track record of getting the job done even in a down market. Experience matters most during negotiations and after a property has gone Under Contract. Don’t leave this important transaction to chance. Contact Mimi Foster today to find out what your home might be worth in this ever-changing Colorado Springs real estate market.