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Want to Sell You House? Price it Right!

by Allison Simson

Want to Sell Your House? Price it Right!

4.14 BlogThe housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or beautiful location your family has always talked about.

The one suggestion we would definitely offer: DON’T OVERPRICE IT!!

Even though prices have increased by more than 10% over the last year, the acceleration of appreciation has slowed dramatically over the last few months. As an example, in their April Home Price Index Report, CoreLogic revealed that home prices actually depreciated by .08% this month as compared to last month’s report. What concerns us is that Trulia just reported that asking prices are still continuing to increase.

Because investor purchases are declining and there are more listings coming onto the market, we believe that sellers should be very cautious when they price their house. The alternative might be that you could lose money by overpricing your home at the start as explained in a research study on the matter.

Bottom Line

Though it is a great time to sell your house, pricing it right is crucial. Get guidance from a real estate professional in your marketplace to ensure you get the best deal possible.

Is it worth it to remodel?

by Allison Simson

Happy Tuesday Morning to YOU!

It's spring and lots of us get the urge to purge and spruce up our surroundings.  

Spring time = Spring Cleaning! 

Where should you spend your $$?  Take a look at some of these sources from the National Associaton of Realtors for some ideas on what pays off and what is best left undone.

Field Guide to Remodeling

What remodeling job has the best return on investment? Where should you start when remodeling an older home? New resources are becoming available and even more important during these times. The home remodeling industry has enjoyed even more growth and will reach new heights in the future. You can't afford to miss this Field Guide if you're planning a home improvement or restoration project. (D. Winchester, Information Specialist)


Selected 2013-2014 Cost vs. Value Report Statistics - Average Nationwide Return on Investment:

Deck addition – 87.4%
Major kitchen remodel – 63.6%
Bathroom remodel – 63.6%
New roof – 63.0%
Basement Remodel – 77.6%

Source: 2014 Cost vs Value Report, (REALTOR® Magazine, Jan. 2014).  Check this one for more specific, location-centric info!


Return on Investment- 10 articles that can help!

Happy spring cleaning/purging/remodeling/sprucing!  If you own property in Summit County, and would like some suggestions on what changes you could make to maximize the value of your property, just let us know!  We are experts at staging your home to sell, maximizing your rentals or just enjoying more!

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221 BUFFALO DR

Price: $229,000

Beds: 2

Baths: 2

Sq Ft: 1023

This one has that "tucked in the woods" feeling with Lake views and is just a few minutes to town and great skiing. Low expenses with this roomy condo that is adjacent to open space - trails nearby! Lovely place with cozy fireplace and W/D in unit. ...

View this property >>

And Here's Your Morning Coffee!

Buyer's Market? Seller's Market?

by Allison Simson

Happy Tuesday Morning to YOU!  

We hear a lot about the market in the media - and in basic cocktail conversations, but what does it mean?  Is is a buyer's market?  A seller's market?  Nobody's market???  How do we evaluate this? 
Actually, it's pretty easy.  Here's a quick paragraph that you can use to dazzle your friends and neighbors at the next party:

One Key Metric for Local Real Estate Market Health
How do you know if your market’s recovering or not?
Regardless of what your buyers and sellers hear in the national media, we all know that real estate markets are localized economic systems with complex factors influencing pricing, inventory, and trends.
So how do you know if your market has hit bottom, is still sliding down, or is showing signs of recovery? What key indicator should most influence your opinion?
According to the talented real estate mind of Bernice Ross, there’s one simple, precise indicator: How many months of inventory are on the market? Here’s Ross’ opinion on market health:
More than 8 months inventory = “rocky buyer’s market”
Between 7 – 8 months inventory = “market is more balanced -bottom may be behind you”
Less than 6 months inventory = “good news, early signs of recovery”
To determine “months of inventory” use this equation:
Months of inventory = (total # of active listings)/(average # of monthly sales over the prior 12 months)

In Summit County currently, we are in a recovering market with regard to inventory.  Some segments are still really high and some are super low, but overall, the months of inventory in Summit County is about 7.  Balanced.

If you would like the specifics on a particular segment, just let me know.  I'm happy to give you the stats!   

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195 River Run RD

Price: $389,000

Beds: 2

Baths: 2

Sq Ft: 912

Jackpine- closest building to the gondola -knows how to work every angle. Great floor plan, beautiful upgrades- just steps to the slopes! Granite-stainless-slate-the works! Pretty fireplace to warm every cozy corner. Tucked away, but close to everyt...

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And Here's Your Morning Coffee!

Displaying blog entries 1-3 of 3

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker