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Tag: home selling tips

6 things to know before selling your home

118 Redhill Mls 33
118 Red Hill Drive, Gypsum | This renovated, 2,861 sq. ft., 4 bed/3 bath home at 118 Red Hill Drive in Gypsum sits on an elevated, private lot with mountain views. Vaulted ceilings with log accents give a sense of spacious living and tall windows bring in the beauty of the outdoors. The lower level offers a one-bedroom apartment with a private entrance and outdoor patio. Listed by Laurie Slaughter, Berkshire Hathaway HomeServices Colorado Properties, for $799K. 

Dear Larry and Laurie, 

My husband and I are considering selling our home and wondering if you can provide some tips to understand what we should do to get our house ready, understand market nuances and help us pick the right broker. 

 –Curious Seller 

4862 Mountain Meadow Dr 18 Vail Bhhs Larry Agneberg
4862 Meadow Drive, #18 | Offering spectacular mountain and meadow views, this 1,652 sq. ft., 3 bed/3 bath furnished  Mountain Meadow Condo #18 at 4852 Meadow Drive is located in one of East Vail’s most private and well-maintained communities. This two-story residence includes vaulted ceilings, large one-car attached garage and access to the Vail Racquet Club. Listed by Larry Agneberg, Berkshire Hathaway HomeServices Colorado Properties, for $1.695M and sold for $1.75M in October 2020.  

Dear Curious Seller, 

We applaud you for taking the initiative to understand how you can make listing and selling your home a positive and productive experience. Understanding where the market stands and how to leverage it to your advantage are important steps. 

As you likely know, we are in a Seller’s market and inventory continues to remain at historic lows. With the current absorption rate, there is a little over a one-month’s supply of condominium and townhouse listing inventory and a little over two-months’ supply of single-family home inventory throughout Eagle County. Coupled with historically low interest rates, there really is no better time to sell your home. 

This doesn’t mean Sellers can ask any price for any property. Buyers are being cautious about buying at the top of the market. When looking for a Broker, we advise you work with a Broker who is a Seller’s Agent or Listing Specialist. This type of Broker understands the needs of Sellers and how to appropriately price, stage and get your home ready for market, negotiate multiple offers and make sure closings go smoothly.  

705 Nogal B6 Mls 24
705 Nogle Road, B6, Eagle | Located at 705 Nogle Road, #B6, this 1 bed/1 bath, 904 sq. ft. end unit condo in Eagle overlooks the Eagle River. It features an open floor plan and large south facing windows. Listed by Laurie Slaughter, Berkshire Hathaway HomeServices Colorado Properties, for $390K and sold for $401K in September 2021. 

A few specific tips: 

Set a Realistic Price 

Setting the right asking price is key. Work with your Broker to run a comparative market analysis to help you determine a fair price. Note that Buyers and their agent will do this for your home too, so as a seller you should be one step ahead of them. 

Pay attention to other comparable homes nearby and listing and selling prices.  An overpriced home will sit on the market longer and you may need to reduce your price, which sometimes may make buyers wonder if there is something wrong.  In today’s market, homes are selling quickly. The sooner you are under contract, the less you will need to get  your property ready for showings.    

Prepare your Home 

Prepare your home for showings before it goes on the market. Remove personal items and family photos, reduce clutter, paint the inside and outside if needed, and get any necessary repairs done. Ask your Broker for their input and/or staging recommendations to make sure you are doing what’s needed but not overdoing it. Buyers notice a clean, well-maintained home and when done correctly, your home will stand out from the competition.  

Create Curb Appeal  

As the saying goes, you only have one chance to make a first impression. Make sure you have a well-groomed yard and landscaping, shoveled walks, and welcoming front door/entryway. 

Qualify Buyers  

When looking at and comparing offers, make sure the Buyer has met with a lender and has a written pre-qualification or approval letter, if it’s not a cash deal. Local banks or mortgage brokers are always preferred as they know the area and market nuances vs. an out-of-town lender. 

 Tone down the emotion 

Selling a home can come with a lot of stress.  Choose a Broker who specializes in listings and one you trust to help you negotiate an offer and help you through the process. Finally, Seller’s agents are familiar with all the paperwork and pitfalls involved in real estate transactions and can help make sure the process goes smoothly.  

Be Prepared for Inspections 

Always disclose any defects with your home. You can expect that when the buyer hires a company to inspect your home, there will always be some issues that arise in the inspector’s report. Be open minded and think seriously about correcting any safety issues.  

Good luck with your listing,
Larry & Laurie  

Larry Agneberg and Laurie Slaughter are 46- and 43- year Vail Valley residents respectively, and award-winning brokers with Berkshire Hathaway HomeServices Colorado Properties. Agneberg, a member of Key to Vail Team with Pete Denise, brings 37 years’ award-winning real estate experience that includes  Realtor of the Year and a perennial member of the Berkshire Hathaway HomeServices’ Chairman’s Diamond Circle. Slaughter is a 26-year real estate veteran and managing broker for the Gypsum office, where she is a member of The Slaughter Group with Scooter Slaughter and Dana Hyatt, which earned the 2020 Chairman’s Circle Platinum Award for Small Teams. They can be reached [email protected] or 970-376-7100 and [email protected] or 970-471-0108.

8 things to know when selling your home

It’s a great time to sell a home in Colorado. One recent study found that Colorado is one of just eight states where more than half of all zip codes saw double-digit increases in home values over the previous year. From metro Denver to quiet resorts, prices are skyrocketing.  

Even in a booming market, selling your home is complicated. Whether you’re selling on a for-sale-by-owner website or investing in a property using a 1031 exchange, you should know what to expect.

Here are eight things every seller should know for a smooth, lucrative sale. 

1. There Really Is a Best (and Worst) Time to Sell Your Home 

Every market has seasonal ups and downs, and Colorado is no exception. Colorado’s market follows the national pattern of heating up in the summer and cooling off in the winter.  

The best month to sell in Colorado is June, when homes sell for 8.4% more on average than they do in October — the month with the lowest average sale price.  

Try to avoid selling in January, when sales take more than 80 days on average. Not only does the Colorado winter make it tough to host open houses, the post-holiday financial hangover drives buyer interest to its annual low. 

2. Pricing Is Key 

Pricing is important, even in a booming market like Colorado. Don’t price your home unreasonably high on the assumption that buyers will present lower counteroffers. Many will be turned off. The longer your home sits on the market, the less likely you’ll sell for a high price. 

Work with a real estate agent to set a price based on recent sales of similar properties in your area. It can be effective to list a slightly low price to attract buyers and let them outbid each other. 

3. Consider a Pre-Sale Inspection 

Unless you’re selling a pristine property that you’re confident has no major problems, you may want to pay for a  pre-market inspection so you can stay ahead of any problems. It only costs a few hundred dollars, and by fixing problems before your home hits the market, you can present an appealing, move-in ready home. 

Don’t wait until the buyer’s inspection to discover serious hidden problems. That’s one of the most common reasons a sale tanks, along with the buyer failing to qualify for a mortgage. 

Even an inspection that uncovers a few moderate or minor problems can spook the buyer. What was formerly their perfect dream home now seems like damaged goods. They might wonder if there are other unseen flaws. It’s best to avoid this scenario by doing your own inspection. 

4. Invest in Home Improvements (But Not Too Much) 

Buyers love to hear about a luxurious bathroom remodel. But if you sink $15,000 into a new bathroom and it only increases your sale price by $10,000, you’ve outsmarted yourself.  

Research what features appeal most to Colorado buyers and which ones can be upgraded for a profit. Two improvements that are almost always cost effective are a new front door, which can add thousands to your sale price, and a new coat of paint, which can make your home look clean, bright, and new.  

5. You Probably Have Too Much Stuff 

Near the top of every buyer’s wish list is lots of space. Although your home may feel cozy to you, it’s best to present an open space before you show it to the public. 

Experts suggest removing at least half your furniture. Rent a storage unit if necessary. You want the space to feel as large as possible.   

Don’t forget to declutter your storage spaces, too. You want your closets and cupboards to look about half full.   

When prospective buyers look into your storage spaces, you want them to think the home has more storage space than they really need. A closet that’s packed gives the opposite impression. 

6. Enhance Natural Light 

Natural light is flattering, so remove any heavy window coverings, such as drapes or curtains, to maximize the amount of sunlight that enters your home.  

You may also want to consider changing the light bulbs in your home to bright, high-wattage bulbs. Experts suggest white light for task-oriented areas, such as kitchens and bathrooms, and soft light for the living room and bedrooms. 

7. Don’t Make Things Personal 

Buyers want to project their own tastes onto your home. Having too much personal decor can make that difficult. Present a neutral palette.  

Remove any artwork and idiosyncratic furniture, as well as religious icons and bottles of alcohol. Remove most of your family photos, but leave a few in key areas. You want the home to feel neutral, but still like a warm, lived-in space. 

8. You’ll Have to Pay Fees Out of the Sale Proceeds 

When you’re calculating how much you’ll make from your home sale, don’t forget to take closing costs and pre-market investments into account. A pre-listing home inspection and any improvements are going to take a bite out of your profits.  

You’ll also be on the hook for real estate commission, title fees, transfer taxes, and other costs associated with selling a house. These costs could eat up to 10% of your sale proceeds.  

Some of these fees are non-negotiable. Others, such as real estate commission, can be reduced by working with a reputable discount real estate broker.