Should I Lower The Price On My Colorado Springs Home For Sale

When is it time to consider lowering your listing price, or the price you are considering,  to sell your home?

1. What Do the Comps Say?
   • Comps are the comparable sales - that is homes similar to and near yours that have sold recently or that are currently on the market.
   • You need to look at these homes carefully to learn what the true value of your home is.
   • Make sure that the comps are truly comparable.
     • If you're home is not as nice or well-maintained as another otherwise similar home, you need to realize that your home is not likely to sell for the same price.
     • If another home has a larger lot or a slightly better location, that too needs to be considered when deciding how your house should be priced.
     • On the flip side, if your house is nicer or better located, etc. that too should be factored in.
     • Also consider the average days on market to see if most houses are selling sooner than yours has.
2. Has Your Home Been Exposed?

• Has your agent marketed your home?
  • How many Trulia views, Zillow reviews, etc. has the home had?
  • How many people have scheduled a viewing of your house?
  • If your house has received thousands of views on the internet but few visits in person, or if you have received numerous visits and no or low offers, your house has probably been marketed and exposed to the market.
  • If your home doesn't show views online or visits in person, then marketing is likely at least one of the issues.

• Can You Change the Condition of Your House?
  • Are there things you could and are willing to do to make the home more appealing to buyers?
    • Paint, carpet, staging, a new kitchen?

Understandably, all sellers want the most money for their home.  If the comps show that your home is overpriced, if your agent is properly marketing your home and you are getting online visits or in person visits and no offers, if your home has been on the market longer than most homes in the area, if you can't or won't do any updates or changes to your home, then it is likely time to seriously consider a price adjustment.

Whether looking for a fresh approach or to list your home, I am here to help you.

Call Carrie Lukins, SellState Alliance Realty at 719-651-2199 or visit www.RunningRealtor.net

Equity Update and Home Valuation

What is a good price for your home in your market?

Buying Colorado Springs Real Estate Now Is a Good Idea Experts Agree.

There are many people deciding on whether to sign a new lease on a rental property or take the dive into homeownership. Every situation is different. However, with rents, home values and mortgage interest rates projected to rise, buying now might make a lot more sense than waiting until next year. Here are others who seem to agree: An article at NPR:

“Economists see several reasons why 2015 might be a banner year for homebuying — and not just in San Francisco and Miami.”

An article on Consumer Affairs:

“If you have been thinking about purchasing a home, the first half of 2015 might be a good time.”

An article on Fox Business News:

“As rent increases, it simply makes more sense to buy a home.”

Bottom Line

Buying earlier in the year probably makes more sense than putting off the decision.
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Carrie Lukins, Realtor
SellState Alliance Realty
Great Real Estate Service Starts Here
Colorado Springs, CO 80920
719-651-2199
www.RunningRealtor.net

Running Real Estate Along the Front Range and Eastern Plains!

Residential Sales

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Current Colorado Springs Real Estate Facts For Selling Your Colorado Springs Home

Colorado Springs Real Estate
Homes Are Selling Faster, Prices Are Up, Buyers Are Very Active
Home sales are up. Median home sale prices are rising. Homes sold under 30 days on market are rising. Currently low mortgage rates are attracting home buyers. First time home buyers are up 32%. It really is a great time to list and sell your home. Need some advice? Call/Text Carrie Lukins, SellState Alliance Realty 719-651-2199. Visit www.RunningRealtor.net. We help you sell and move:)

What is Your Home Worth In Today's Market?
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Calling All Colorado Springs 80920 Home Buyers! The 3% Down Payment Makes a Comeback - 719-651-2199 - Carrie Lukins Realtor

New programs available for first-time and lower-income homebuyers.

Carrie Lukins, Realtor

SellState Alliance Realty

Colorado Springs, CO 80920

719-651-2199

www.RunningRealtor.net

Socking away enough for a down payment isn’t easy. In fact, recent research found that, with Americans’ current savings rate, it would take the average buyer as long as 12 years to build up a 20% down payment on a median-priced home.

Fannie Mae announced an option for qualified first-time homebuyers that will allow for a down payment as low as 3%.

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As a result, many first-time, younger and lower-income homebuyers have been largely left out of the housing market in the years since the recession.

Now, Fannie Mae and Freddie Mac are hoping to change that. The mortgage giants announced on Monday that they would begin backing mortgages with down payments as low as 3%. Fannie’s program will start this month; Freddie’s will begin March 2015.

The catch? Borrowers would have to meet strict standards to be eligible, such as a credit score of at least 620. The program would also only be available for first-time homebuyers, those who haven’t owned a home in a few years, and people with lower incomes. Further, borrowers would be required to undergo home-buyer counseling and purchase private mortgage insurance before signing on the dotted line. And those eligible for the program would likely have to meet other measures to offset the increased risk, like boasting a low debt-to-income ratio.

It's recommended to have mortgage payments of no more than 28% of monthly take-home pay.

For real estate advice, to sell or buy your next home, call Carrie Lukins, SellState Alliance Realty, 719-651-2199 or go to www.RunningRealtor.net