How Long Will It Take To Sell My Home?

How Long Does It Take To Sell a Home?

That will depend on many factors...

Where is the home located?
Will this be a short sale, or a “traditional” sale? (Short sale meaning you owe more than the home can be sold for. Traditional meaning you have enough equity to satisfy the loan, and your closing costs).

What is the condition of the home?
How aggressive are you willing to price it?
What are comparable homes selling for?

Are you willing to provide any buyer concessions (paying their closing costs, buying a warranty, pre-paying HOA dues – there are many things a seller can do to “sweeten” the deal and appeal to more buyers).

And more. . .

There is no single answer to how fast a home can sell, or whether we are in a buyers or sellers market. One good market statistic to examine when you are looking at (roughly) how long it may take to sell your home is absorption rate – which will tell you how long it takes on average to sell a home.

The basic formula is pretty simple:
Find the number of homes currently listed for sale and divide that by the number of homes sold last month. The result is the number of months it would take to reduce that inventory to zero.

Here is The Great News:  Listing you home with me WILL accelerate the sales cycle because of our extensive marketing programs, data base of influence and buyers, relationships with other referral sources,  and internet/search engine presence.

For more information on exactly how we can represent, market, and SELL your home for the best value the market in Colorado Springs will allow, and how I put our team's 23+ years expertise  behind every home I list and sell, contact me at 719-590-4796, and check out our website at  www.TerrySellsColoradoSprings.com

Spring Projects Around The House

With Spring Finally here, why not throw open the windows and tackle those projects you have been putting off all winter!




Trim any branches so they are 10 feet away from your roof.

Touch up peeling paint.

Have your air conditioning unit serviced and make sure that any leaves and debris are removed.

Seal any leaks around doors and windows.

Reseal natural stone surfaces and repair grout in bathrooms.

If you are considering listing your home for sale in the Colorado Springs, CO. area, 

visit my website at www.TerrySellsColoradoSprings.com and contact me to find out what your home is worth and how we can effectively market and sell your home!

Tips For Seeking Colorado Springs Investment Properties

Tips for Seeking Colorado Springs Investment Properties

Why should residents of other regions consider purchasing investment properties in the Colorado Springs area? Not only are mortgage rates in the United States reaching their lowest points since the 1970s, but housing prices are also at dream levels too. Naturally, not all markets across the country are the same, but for dedicated buyers, the Colorado Springs real estate market is one of the best choices possible.

The city is known as one of the most livable and popular in the country, and is considered a home to major corporate endeavors. This means that there is a massive range of home qualities and styles.

Why are things so good for those looking for investment properties? 
Consider that the median home price in this region stands at roughly $250k, and this portion of the Colorado Springs, CO. real estate market is starting to level out. This is good news for those selling homes in that price range. For more upscale properties, we have a very unique approach to getting your homes sold faster for top dollar.

Buyers will find that there is a distinctly downward trend in pricing, and that more and more of these larger and more luxurious homes are available at incredibly affordable prices. This means that luxury townhomes are within a reasonable price range, and that homes near the wonderful natural areas are also affordable too.

The trick to success in finding high-quality seasoned Colorado Springs, CO., homes however, is to work with the right realtor. It really requires an insider's knowledge of the many neighborhoods and the overall area to get the best options. I have expertise in the Colorado Springs region.

There has never been a better time for real estate investment opportunities and Terry at Terry Naber, RE/MAX Properties, Inc. is ready to help you find that property. To get started, fill out the short form below http://forms.aweber.com/form/61/190647261.htm ,  call 719-590-4796, or email at terry.naber@wesellmore.net  for a no obligation consultation.

6 Essential Tips For Choosing The Best Offer For Your Home

Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers.

Selling your home will go a lot smoother if you think of it as a business transaction and don't let emotions get in the way. 

You’ve worked hard to get your home ready for sale and to price it properly. With any luck, offers will come quickly. You’ll need to review each carefully to determine its strengths and drawbacks and pick one to accept. Here’s a plan for evaluating offers.

1. Understand the process

All offers are negotiable, as your agent will tell you. When you receive an offer, you can accept it, reject it, or respond by asking that terms be modified, which is called making a counteroffer.

2. Set baselines

Decide in advance what terms are most important to you. For instance, if price is most important, you may need to be flexible on your closing date. Or if you want certainty that the transaction won’t fall apart because the buyer can’t get a mortgage, require a prequalified or cash buyer.

3. Create an offer review process

If you think your home will receive multiple offers, work with your agent to establish a time frame during which buyers must submit offers. That gives your agent time to market your home to as many potential buyers as possible, and you time to review all the offers you receive.

4. Don’t take offers personally

Selling your home can be emotional. But it’s simply a business transaction, and you should treat it that way. If your agent tells you a buyer complained that your kitchen is horribly outdated, justifying a lowball offer, don’t be offended. Consider it a sign the buyer is interested and understand that those comments are a negotiating tactic. Negotiate in kind.

5. Review every term

Carefully evaluate all the terms of each offer. Price is important, but so are other terms. Is the buyer asking for property or fixtures—such as appliances, furniture, or window treatments—to be included in the sale that you plan to take with you?

Is the amount of earnest money the buyer proposes to deposit toward the downpayment sufficient? The lower the earnest money, the less painful it will be for the buyer to forfeit those funds by walking away from the purchase if problems arise.

Have the buyers attached a prequalification or pre-approval letter, which means they’ve already been approved for financing? Or does the offer include a financing or other contingency? If so, the buyers can walk away from the deal if they can’t get a mortgage, and they’ll take their earnest money back, too. Are you comfortable with that uncertainty?

Is the buyer asking you to make concessions, like covering some closing costs? Are you willing, and can you afford to do that? Does the buyer’s proposed closing date mesh with your timeline?

With each factor, ask yourself: Is this a deal breaker, or can I compromise to achieve my ultimate goal of closing the sale?

6. Be creative

If you’ve received an unacceptable offer through your agent, ask questions to determine what’s most important to the buyer and see if you can meet that need. You may learn the buyer has to move quickly. That may allow you to stand firm on price but offer to close quickly. The key to successfully negotiating the sale is to remain flexible.

For More Information About How Terry Naber With RE/AX Properties, Inc. Can Help You Sell Your Home For Top Market Value Go to www.TerrySellsColoradoSprings.com

Give Terry a Call at:  719-590-4796 and Have Her Evaluate Your Home's Value

Search a Few Sweet Colorado Springs Home Listings Here:  

http://www.terrysellscoloradosprings.com/Property-Search

Find The Perfect Price For Your Home

Before you put your home up for sale, use the right comparable sales to find the perfect price.

A house is comparable to yours in price if it's in the same neighborhood, on a similar street, and in the same school district.

How much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold their house in recent memory and their home was just like your home.

Knowing how much homes similar to yours, called comparable sales (or in real estate lingo, comps), sold for gives you the best idea of the current estimated value of your home. The trick is finding sales that closely match yours.

What makes a good comparable sale?

Your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are other factors that count:

Location: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.

Home type: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.

Amenities and upgrades: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners association fees?

Date of sale: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.

Sales sweeteners: Did the comparable-sale sellers give the buyers downpayment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.

Agents can help adjust price based on insider insights.

Even if you live in a subdivision, your home will always be different from your neighbors’. Evaluating those differences—like the fact that your home has one more bedroom than the comparables or a basement office—is one of the ways real estate agents add value.

An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. She has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.

More ways to pick a home listing price

If you’re still having trouble picking out a listing price for your home, look at the current competition. Ask your real estate agent to be honest about your home and the other homes on the market (and then listen to her without taking the criticism personally).

Next, put your comparable sales into two piles: more expensive and less expensive. What makes your home more valuable than the cheaper comparable sales and less valuable than the pricier comparable sales?

Are foreclosures and short sales comparables?

If one or more of your comparable sales was a foreclosed home or a short sale (a home that sold for less money than the owners owed on the mortgage), ask your real estate agent how to treat those comps.

A foreclosed home is usually in poor condition because owners who can’t pay their mortgage can’t afford to pay for upkeep. Your home is in great shape, so the foreclosure should be priced lower than your home.

Short sales are typically in good condition, although they are still distressed sales. The owners usually have to sell because they’re divorcing, or their employer is moving them to Kansas.

How much short sales are discounted from their market value varies among local markets. The average short-sale home in Omaha in recent years was discounted by 8.5%, according to a University of Nebraska at Omaha study. In suburban Washington, D.C., sellers typically discount short-sale homes by 3% to 5% to get them quickly sold, real estate agents report. In other markets, sellers price short sales the same as other homes in the neighborhood.

Give Terry Naber, RE/MAX Properties Inc.,  a call at 719-590-4796 to discuss the sale price of your home, or visit her website at www.TerrySellsColoradoSprings.com

Terry is your Good Neighbor in Real Estate For 23 Years!

Prepare Your Home for a Virtual Tour

With more buyers shopping for homes on the Web, photos and virtual tours are a must. There are many things you can do make your home shine on camera.

Understand the camera’s perspective. The camera’s eye is very different from the human eye. It magnifies clutter and poor furniture arrangement. To make a home shine in a virtual tour or video presentation, cater to the lens.

Make the home “Q-tip clean.” Because the camera magnifies grime, each room must be spotless. Don’t forget floor coverings and walls; a discolored spot on the rug might be overlooked by prospects during a regular home showing, but that stain becomes a focal point for online viewers.

Pack up the clutter. But leave three items of varying heights on each surface. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low).

Snap pictures. This will give you an idea of what the home will look like on camera. Closely examine the photos and list changes that would improve each room’s appearance: opening blinds to let in natural light, removing magnets from the refrigerator, or taking down distracting art.

Pare down furniture. Identify one or two pieces of furniture that can be removed from each room to make the space appear larger.

Rearrange. Spotlight the flow of a space by creating a focal point on the furthest wall from the doorway and arranging the other pieces of furniture to make a triangle shape. The focal point may be a bed in a bedroom or a china cabinet in a dining room.

Re-accessorize. Include a healthy plant in every room; the camera loves green. Energize bland decor by placing a bright vase on a mantle or draping an afghan over a couch.

Keep the home in shape. You want buyers who liked what they saw online to encounter the same home in person.

For more information, to find out what your home is worth, list and sell your home and create a virtual home tour online, go to www.TerrySellsColoradoSprings.comwww.TerrySellsColoradoSprings.com, email Terry,  or call Terry at 719-590-4796.

RE/MAX: 5 Top Mistakes Home Sellers Make