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 mythsthink 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”…
 
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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