January 30, 2018
Once Again…Happy New Year.
Frozen Hanging Lake – Glenwood Springs, Colorado
Photograph by Tom Cuccio
NEXT MONTH’S FEATURE TOPIC
Costly Mistakes by Property Sellers
HOME SELLING MYTHS
1.The property’s selling price is established by the Seller.
NOPE: Set by existing market conditions, property’s location, size, age, etc.
2. Initially overpricing a property translates to a higher closing price.
Will the property become stale on the market? Will potential Buyers then think
something is wrong with the property? Might it sell for much less?
3. The longer the time on the market, the better the offers?
In reality, the longer the property sits on the market, the more likely
lower offers will be presented.
4. Real estate agent with the lowest commission will net the Seller more.
Will that agent then settle on a lower negotiated sales price for the Seller?
Will that agent then spend less money on the marketing budget for the
property. So, a Seller saves 1% to 2% on commission…sells for 5% less
than market value…hmmm.
5. Home improvements more than pay for themselves.
National Statistics: Homeowners usually only recover 64% of the cost
of renovations.
6. There are many more selling myths…think about contacting us for a more
complete list.
STATISTICS TO EXCITE OR BORE
For the twelve months of 2017, presented below is an overview of sales activity
for single family detached homes in various Boulder Valley communities, courtesy
of IRES – Northern Colorado MLS. And, yes, we believe in the accuracy of this
chart data. Of special note, the Median Price for Boulder has shown almost no
appreciation; Longmont has shown 11.0% appreciation; Niwot 11.4% appreciation.
| TOTAL | HOMES | AVERAGE | SALES | MEDIAN | SALES | |||||||||||||
| SOLD | PRICE | PRICE | ||||||||||||||||
| 01/01/16 | 01/01/17 | 01/01/16 | 01/01/17 | 01/01/16 | 01/01/17 | |||||||||||||
| LOCATION | 12/31/16 | 12/31/17 | % | 12/31/16 | 12/31/17 | % | 12/31/16 | 12/31/17 | % | |||||||||
| $ | $ | $ | $ | |||||||||||||||
| Boulder | 911 | 977 | 7.2 | 1,019,646 | 1,035,677 | 1.6 | 845,000 | 855,000 | 1.2 | |||||||||
| (Bldr Cnty) | 3,666 | 3,889 | 6.1 | 637,006 | 672,882 | 5.6 | 512,500 | 550,000 | 7.3 | |||||||||
| Erie | 366 | 425 | 16.1 | 496,528 | 508,875 | 2.5 | 456,250 | 480,000 | 5.2 | |||||||||
| Lafayette | 269 | 332 | 23.4 | 582,903 | 590,997 | 1.4 | 507,834 | 537,944 | 5.9 | |||||||||
| Longmont | 1,318 | 1,339 | 1.6 | 420,966 | 469,955 | 11.6 | 365,000 | 405,000 | 11.0 | |||||||||
| Louisville | 186 | 234 | 25.8 | 632,834 | 666,156 | 5.3 | 592,000 | 629,750 | 6.4 | |||||||||
| Lyons | 113 | 86 | -23.9 | 456,211 | 521,342 | 14.3 | 435,000 | 535,000 | 23.0 | |||||||||
| Mountains | 405 | 374 | -7.7 | 596,326 | 581,020 | -2.6 | 450,000 | 515,750 | 14.6 | |||||||||
| Niwot | 75 | 83 | 10.7 | 975,481 | 998,912 | 2.4 | 810,000 | 902,000 | 11.4 | |||||||||
| Plains | 633 | 648 | 2.4 | 728,970 | 795,250 | 9.1 | 610,000 | 647,900 | 6.2 | |||||||||
| Superior | 143 | 114 | -20.3 | 620,623 | 635,117 | 2.3 | 607,000 | 618,250 | 1.9 | |||||||||
| TOTAL | 4,419 | 4,612 |
WHAT IS YOUR HOME WORTH?
Click on link below, scroll downward past photo to Form,
fill out form with reasonable detail, click “Submit”…
Click on link below, scroll downward past photo to Form,
fill out form with reasonable detail, click “Submit”…
If you or family/neighborhood friends might be planning a move
this Winter or coming Spring, please contact us.
Until Next Month…
Bruce Royer
Equity Colorado Real Estate
Cell: 303-589-7168
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