Tag Archives: westminster

Denver Area Market Activity, March 2013

Market Snapshot chart, March 2013

March sales data for the Front Range continues to show strength in the local real estate market.  Supply of homes continues to decrease.  The number of “actives” on the market is down 35% from this time last year, and even down over last month.   Demand is also up over last year (and last month) as indicated by the increase in the percentage sold and under contract.

The number of “pending” sales is down.  In Metrolist (the Denver-area MLS, and source for this data), the “Pending” category is usually reserved to indicate a sales contract that has been accepted, but is awaiting signatures or requires third party approval.  “Pending” might indicate a verbal agreement, but not signature on a bank-owned property.  “Pending” would also indicate a property that is awaiting a lender’s approval for a short sale.

The percentage of Pending properties has decreased since February, and since this time last year.  This could be an indication that there are fewer distressed sales since this time last year (fewer lender-owned and shortsales).

Days on Market (DOM) is down.  Days on Market is the number of days between the listing date and the date the listing goes under contract.  On average, homes are selling nearly 35% faster than this time last year.  Sold prices continue to climb.  For all Single Family homes, the average sold price is up nearly 14% over last year.

What does all this mean for you?

BUYERS:  If you are thinking of buying, don’t wait too long.  Prices are rising, and have been rising nearly every month for the last year.  Be prepared to act when you see a house that will work for you.  There is a lot of competition for homes in this market (there are fewer of them,  and what is there gets snatched up quickly) so be prepared by being pre-approved for a loan before you go out looking.  Being pre-approved will make your offer appear stronger to a seller, and will increase your chances of getting the home.

SELLERS:  If you are selling, be prepared for a relatively quick offer.  Overall, the stats indicate that you should be under contract within 60 days or so.  However, depending on the price range you are in, it could be much faster than that.  Once under contract, expect to close the sale within 30-45 days.

If you have any questions about the market and how it will affect your home buying/selling experience, feel free to  contact me with any questions, using the form below.

* This information is based on information from Metrolist, Inc. for the period (03/01/13) through (03/31/13). Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Real Estate Market Stats for Denver Front Range, February 2013

Snapshot, Feb 2013

The housing market in the Denver Metro Area is still going strong!  The supply of homes for sale is down over this time last year by about 33%.  Demand is up (homes are selling in about ¾ of the time it took last year).  As expected when there is less supply and higher demand, sold prices are also up (11% over this time last year)!

For Sellers this is great news, as the trend means homes continue to re-coup some of the equity they lost after the mortgage crisis of 2007-2008.

For Buyers, the stats indicate that getting a home under contract is getting to be a bit more challenging.  Since there is less supply, there will be more competition among buyers for the homes that are available. And the “good ones” (and even some not so good ones) will be snatched up by those buyers who are ready to place an offer quickly, and those who have their financing in order.

 If you are thinking of selling your home, contact me!  I will give you a free market analysis and customized staging tips to help you determine the best price for the current market and help you get your home sold as quickly as possible!

If you are thinking of buying, I can help you get prequalified with a reputable and knowledgeable lender, so that when we find your perfect home, you will be able to make a strong offer, with the highest chance of getting the home you want- at the right price!  And please, take advantage of my offer to have your own free, automated, customized search results delivered to your email box each morning!  No need to spend time searching on your own and sifting through the same listings day after day!  Check out the “Search for Properties” Tab at the top of this page for more information!  Or contact me using the form below for a confidential consultation!

Sales Activity in The Ranch & Ranch Reserve, February 2013

Here is the market activity for the month of February 2013.  Nothing sold in February, but plenty on the market and under contract!

 Want to see an estimate of what your house is currently worth?  Enter your address in the form under the “What’s Your Home Worth” tab at the top of this page!  (Of course, this is just an estimate.  For a more accurate valuation, contact me using the form below.  A more personalized estimate will take into account any updates you have done to your home).

The Ranch:  Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$289,900

A / B

3266

2 Story

3

2394 W 119TH Ave

00118

$320,000

A

3616

Tri-Level

4

11224 QUIVAS Loop

MBN17

$334,000

A / B

3457

Tri-Level

5

11261 QUIVAS Loop

MBCDR

$339,900

A / B

5312

1 Story/Ranch

4

11482 Quivas Way

MBD2X

$349,900

A

3542

2 Story

4

11240 QUIVAS Loop

BC001

$349,900

W

3670

2 Story

6

2657 W 118TH Ave

KWR30

$365,000

A / B

3899

2 Story

3

11334 QUIVAS Way

RMW01

$499,900

A

4550

1 Story/Ranch

4

11615 QUIVAS Way

CBR56

$519,900

A

5237

1 1/2 Story

4

11388 QUIVAS Way

KWR80

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$749,900

A

4529

1 Story/Ranch

5

2184 W 116TH Ave

M1842

Total Number of Residential-Detached Listings: 11

The Ranch: Attached Dwelling Listings

Price

Status

SqFt

Style

Beds

Address

Office

$225,000

A

2178

2 Story

2

2229 RANCH Dr

CC123

$319,000

A / B

2302

2 Story

3

11276 RANCH Pl

MBN41

Total Number of Attached Dwelling Listings: 2

 

The Ranch Reserve:  Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$335,000

P

3371

2 Story

4

11655 Decatur Dr

0KWPR

$335,000

A / B

3371

2 Story

4

11655 DECATUR Dr

KWR80

$505,000

A / B

3887

2 Story

6

11403 DECATUR Ct

NEW06

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$750,000

W

5048

1 Story/Ranch

4

2811 W 114th Ct

FRON

$785,000

A

5807

2 Story

5

2877 W 115TH Cir

REM12

$1,099,500

A

5571

2 Story

6

11235 Clay Ct

AFPB

$2,490,000

A

8492

1 Story/Ranch

4

2391 Ranch Reserve Rdg

LLEG

Total Number of Residential-Detached Listings: 8

The Ranch Reserve: Attached Dwelling Listings

Price

Status

SqFt

Style

Beds

Address

Office

$139,900

A

924

2 Story

2

2882 W 119TH Ave

00181

$179,900

X

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$179,900

X

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$179,900

A

1396

1 Story/Ranch

2

2883 W 119th Ave 204

0153B

$182,500

A / B

1396

1 Story/Ranch

2

2883 W 119th Ave 12-201

0RITZ

$205,000

A / B

2550

1 Story/Ranch

2

2877 W 119th Ave 102

0INTV

Total Number of Attached Dwelling Listings: 6

Submit this form for a personalized analysis of your home’s value!

Sales Activity in The Ranch & Ranch Reserve, January 2013

Below are the charts of sales activity in the Ranch and Ranch Reserve for the month of January 2013.

 January 2013 Sales Activity in The Ranch

Residential-Detached Listings, The Ranch

Price

Status

SqFt

Style

Beds

Address

Office

$280,000

A / B

3616

Tri-Level

4

11224 QUIVAS Loop

MBN17

$289,900

A / B

2858

Four-Level

3

11892 VALLEJO St

REX01

$289,900

A

3266

2 Story

3

2394 W 119TH Ave

00118

$354,000

S

3554

2 Story

5

2734 W 119TH Ave

PCO40

$499,900

A

4550

1 Story/Ranch

4

11615 QUIVAS Way

CBR56

$549,900

A

5237

1 1/2 Story

4

11388 QUIVAS Way

KWR80

$550,000

A

4949

2 Story

5

2256 COUNTRY CLUB Loop

CBR18

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$765,000

A / B

6466

2 Story

4

2333 COUNTRY CLUB Loop

REM12

Total Number of Residential-Detached Listings: 9

 Attached Dwellings Listings- The Ranch

Price

Status

SqFt

Style

Beds

Address

Office

$225,000

A

2178

2 Story

2

2229 RANCH Dr

CC123

$245,000

S

2838

1 Story/Ranch

4

11241 Wyandot St

FRON

Total Number of Attached Dwelling Listings: 2

 

Sales Activity in The Ranch Reserve, Jan 2013

Residential-Detached Listings-  Ranch Reserve

Price

Status

SqFt

Style

Beds

Address

Office

 

$335,000

A / B

3371

2 Story

4

11655 DECATUR Dr

KWR80

 

$505,000

A

3887

2 Story

6

11403 DECATUR Ct

NEW06

 

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

 

$750,000

A

5048

1 Story/Ranch

4

2811 W 114th Ct

FRON

 

$1,099,500

A

5571

2 Story

6

11235 Clay Ct

AFPB

 

$2,490,000

A

8492

1 Story/Ranch

4

2391 Ranch Reserve Rdg

LLEG

 

Total Number of Residential-Detached Listings: 6

 

Attached Dwellings Listings- Ranch Reserve

Price

Status

SqFt

Style

Beds

Address

Office

 

$172,000

S

2317

1 1/2 Story

2

11557 DECATUR St 8B

00512

 

$179,000

A / B

1390

1 Story/Ranch

3

2971 W 119TH Ave 101

REM36

 

$179,900

A

1396

1 Story/Ranch

2

2883 W 119th Ave 204

0153B

 

$182,500

A

1396

1 Story/Ranch

2

2883 W 119th Ave 12-201

0RITZ

 

$205,000

A

2550

1 Story/Ranch

2

2877 W 119th Ave 102

0INTV

 

Total Number of Attached Dwelling Listings: 5

 

Source:  IRES mls.  Data pulled Feb 8, 2013.  Homes listed in the charts above may have been listed or sold by other companies.

Denver Area Real Estate Market Stats for January 2013

Below is a summary of the real estate market statistics for the Denver Metro area for the month of January 2013.  Looks like activity is picking up for Single Family homes (Residences and Condos) after the holidays.   Although the number of houses on the market, and those that closed in January were down compared to December, the number of homes that went under contract in January increased by 43% .

Compared to this time last year, the market is still on the rise.  The number of active listings is down 32% (supply is down), the number under contract is up 27% (demand is up) , the days on market is down 25% to an average of only 78 days (get them while they are hot), and the average sold price is up more than 10% higher over this time last year. 

The Ranch Neighborhood Featured in “City Edition”

The City of Westminster publishes a small local newspaper every other month for the residents of Westminster.  The paper is called City Edition.  It is free, and citizens can subscribe to either a print version or an online version of the paper here: http://www.ci.westminster.co.us/News/CityEdition.aspx .

In the Dec 2012-Jan 2012 edition, the beauty of the homes, open spaces, Ranch Park, ponds & lakes, and beautiful vistas available in The Ranch and Ranch Reserve subdivisions was highlighted in a full-page “Featured Walk” article.  These subdivisions, as well as the open spaces, etc sit on a total of over 550 acres.  The subdivisions called The Ranch and Ranch Reserve contain homes built as early as the late seventies and as recently as the 2000’s.  As you may already know, these neighborhoods surround The Ranch Country Club, the only private country club in Denver’s  north metro area.  The Featured Walk article includes many opportunities to enjoy the views of the golf course and gives the reader/walker a nice bit of history about The Ranch development as well.

The article takes the reader on a nearly step-by-step, round-trip journey through the streets and  paths around the neighborhood.  The adventure starts and ends at 118th Ave & Zuni St.  The journey is approximately 3.66 miles of hilly terrain.  If you are not up for that level of physical activity, you may want to take the hike in segments.

I have driven or ridden my bike through many parts of the trip described in the article and it does not exaggerate the beauty of the views and some of the spectacular homes in The Ranch and Ranch Reserve.  After reading the article, I am looking forward to exploring the parts of the journey that I have not yet seen.

If you are interested in learning more about The Ranch and Ranch Reserve, or in taking a tour through these neighborhood, you can check out the article, on page 12, at:  http://www.ci.westminster.co.us/Portals/0/Repository/Documents/News/CEDec12Jan13FINAL.pdf.  

And, of course, if you would like to buy or sell a home in either of these beautiful neighborhoods, please contact me using the form below!

The End of “The Line”

Recently,my husband and I reluctantly let go of yet another link to the past.  We discontinued our land line phone service for our home. Now we rely on cell phones, texts, emails, and social networks for personal communications.  I must confess, that I was the last hold-out when it came to giving the land line the “heave-ho”.  Several years after my parents went wireless (they are in their seventies), I was still hanging on to the days of old.

Admittedly, my reluctance is just due to old habits dying hard.  Part of it is for nostalgic reasons. I am the kind of person that, even though I have the technology to read e-books (have used it many times and enjoy the convenience), I still like to read real paper books. I like the atmosphere and experience of going to the local library.  I like the physical experience of seeing, touching, and even smelling the vast array of books in the stacks of bookcases that reside in library. I find, there is almost a “reverence” for reading in libraries, and the good old days of “common courtesy” still is evident as people make the effort to speak in hushed tones so as not to disturb the other patrons. Something is lost in the leap to the higher technology of the e-book, with its reliance on batteries, staring at the same cold electronic display for every book, and the need to put on a noise-cancelling headset to drown out the sounds of the tv, radio, and conversations around you.

I feel the same about losing the land line for my phone.  Now, I have never had the “physical” experience of going to the telephone company to see and touch the phone lines.  And, unless something was terribly wrong with my handset, I never “smelled” a conversation on the land line.  However, something is lost/different in making the leap to the “wireless only” household.  Here are some of the reasons I wanted to keep the land line for so long:

1.  Okay, maybe I am being a little paranoid with this reason, but unlike conversations on cellphones, those on land lines are, at least theoretically, private.  Someone has to have a warrant to tap your phone and listen in without your knowledge.  When I speak on my cellphone, it brings to mind the early days of baby monitors, where if your neighbor had something on the same frequency, they could hear what was going on in your house through your baby monitor.  Now I don’t have any reason to think that someone is out there trying to listen in on my cellphone conversations (I am sure they are not that interesting), but there is something more appealing about the privacy associated with the land line. It just makes me feel more secure and “in control”.

2.  I used my land line for my business fax.  After “testing out” an online fax service for the past two-three years, I have decided that the online fax service is more trustworthy than my home fax machine in having copies and a record of faxes that are sent and received.  It can also be more convenient in that I can send files on my computer as faxes to other people.

3.  If I misplaced my cell phone in the past, I could always use my land line to call my cell phone.  The ringing helped me locate the cell phone.  The simplest way for me to address this problem without a land line, is to clip my cellphone to my waist and wear it everywhere (it makes quite the fashion statement).  I am sure there are probably other gadgets or technologies out there that also help you find your cell phone but I would prefer to keep it simple for now (“baby steps” please).  Right now, just losing the land line still feels a little like flying without a safety net!

4.  This is the reason that I think should be a concern for anyone considering “the end of the line” at their home.  Some cities do not have the capability to broadcast messages/warnings to its residents via a “reverse 911” to a cell phone.   They can do it for land lines, but not cell phones or internet-based phone numbers. Some reasons that a city might use a reverse 911 call out are:

  • Chemical spills
  • Natural Disasters
  • Fires
  • Missing or endangered child
  • Missing or endangered at-risk adult
  • Searches for armed and dangerous persons
  • Any other Emergency Management event that may affect the community such as a radiological release or homeland security threat

Several lives were lost this past summer in the wildfires in Colorado, because people did not have land lines and did not get the call to evacuate their homes.  Also, some emergency services available to residents also rely on your use of a land line when you call 911.  Some cities do not have GPS capability in finding out where you are when you call in an emergency on your cell phone (you have to be able to tell them where you are).  In terminating your land line, some of that lost functionality can be recovered by signing up for alerts from weather services or registering additional information with your city’s emergency services department.

The City of Westminster, where I am located, estimates that “more than 70 percent of 911 calls are made on mobile devices, making it difficult for emergency workers to determine the exact location of the call”.  Westminster has a service called “Smart 911”.  Citizens of Westminster are encouraged to sign up for the service and create a safety profile for their household.  The information you give is secure and kept private, and you can provide as much or as little information as you like.  With the service, you can describe the layout of your home, give medical information that might be needed in an emergency, give information on your vehicles, your family members and even your pets that might be relevant in case of emergency.

Smart 911 is supported by advocacy groups for people with autism, diabetes, epilepsy, hearing problems and people who are elderly.  For more information or to sign up for the “Smart 911” program, Westminster residents can visit www.smart911.com.  If you do not live in Westminster, Colorado, you will need to check with your city to see what the potential consequences are to not having a land line.

To sum up, although using only cellphones can be so much more convenient in some ways, something is lost at the “end of the line”- something valuable, that could literally be a matter of life and death.  For every technological convenience, there seems to be some kind of “equal and opposite” inconvenience at work behind the scenes.  To benefit from the cost savings of “cutting the cord” on the land line, I had to spend the time and effort to find other ways to compensate for the lost functionality and convenience. And I am not sure that doing all of those other things really replaced all the side benefits of the land line.

If you are thinking of discontinuing your land line service, or if you have already done so, I hope you will remember the “old timey” land line as fondly as I do.  Especially look into any lost safety services like those mentioned in item #4.  Looking at that list again, I think I want my land line back…

 

The Ranch Reserve- Home Sales Activity for November 2012

This is the November 2012 snapshot of the homes sales activity in The Ranch Reserve Neighborhood.

The Status Categories are as follows:  A= Active, A/B= Active, taking backup offers, S= Sold, W= Withdrawn from the market, X= Expired listing.

 

Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$505,000

A

3887

2 Story

6

11403 DECATUR Ct

NEW06

$515,000

S

5561

2 Story

4

11265 Clay Ct

0RLCP

$555,000

S

3773

1 Story/Ranch

4

11278 DECATUR Cir

MBN82

$674,900

A

5017

2 Story

4

2598 W 115th Dr

0KWPR

$695,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$1,099,500

A

5571

2 Story

6

11235 Clay Ct

AFPB

$1,395,000

A

7198

2 Story

5

2788 W 115th Dr

0CRSS

$1,749,000

W

8274

2 Story

6

2441 RANCH RESERVE Rdg

CBR01

$2,490,000

A

8492

1 Story/Ranch

4

2391 Ranch Reserve Rdg

LLEG

Total Number of Residential-Detached Listings: 9

Residential- Attached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$167,000

X

1317

1 Story/Ranch

2

2899 W 119TH Ave 202

USPRO

$175,000

A

1317

1 Story/Ranch

2

2891 W 119th Ave 203

RMME

$179,000

A / B

2317

1 1/2 Story

2

11557 DECATUR St 8B

00512

$179,900

A

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$189,800

A

1390

1 Story/Ranch

3

2971 W 119TH Ave 101

REM36

$189,900

A

1396

1 Story/Ranch

2

2883 W 119th Ave 12-201

0RITZ

$229,900

A / B

2550

1 Story/Ranch

4

2845 W 119th Ave 102

2HOME

$230,000

A

2178

2 Story

3

2367 W RANCH Dr

MBP4A

$234,888

A / B

2614

1 Story/Ranch

2

2378 RANCH Dr

HET77

Total Number of Attached Dwelling Listings: 9

Prepared By: Joan Bagwell – Dec 12, 2012 10:27:25 AM

Information deemed reliable but not guaranteed. Some properties may be listed by other offices.  Source: IRES, LLC

Please feel free to contact me with any questions you may have about the real estate market or your home’s value.

Home Sales Activity in The Ranch, November 2012

Below, is the home sales activity for the month of November in The Ranch neighborhood.  As you can see, compared to the hundreds of homes in the neighborhood, there is not a lot up for sale.  I take this as a good sign, because low supply means a higher demand for homes, if a buyer were targeting The Ranch as the place they want to live.  Higher demand, should also result in higher prices and shorter time on the market for sellers.

Here are the definitions for the various “status” types:  A=Active, A/B= Active, taking backup offers, Sold= Sold, W= Withdrawn from the market, X= Expired listing.

The Ranch- Sales Activity Residential-Detached Listings

Price

Status

SqFt

Style

Beds

 

Address

Office

$265,650

S

3836

2 Story

4

11402 QUIVAS Way

KWR80

$289,900

A

3616

Tri-Level

4

11224 QUIVAS Loop

MBN17

$289,900

A

2858

Four-Level

3

11892 VALLEJO St

REX01

$294,888

A / B

3296

2 Story

5

11260 RARITAN St

00981

$299,900

A

3266

2 Story

3

2394 W 119TH Ave

00118

$299,990

A / B

3228

2 Story

4

11257 QUIVAS Loop

0034B

$349,900

A

3670

2 Story

6

2657 W 118TH Ave

KWR30

$350,000

X

3063

2 Story

3

1696 W 113TH Ave

KWR80

$354,700

A

3554

2 Story

5

2734 W 119TH Ave

PCO40

$399,999

S

4940

2 Story

7

2666 W 119TH Ave

KWR80

$500,000

W

4940

2 Story

6

11840 Bryant Cir

0KWPR

$509,900

A

4550

1 Story/Ranch

4

11615 QUIVAS Way

CBR56

$600,000

A

4949

2 Story

5

2256 COUNTRY CLUB Loop

CBR18

$653,000

A / B

4867

2 Story

4

11392 QUIVAS Way

CBR56

$695,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

Total Number of Residential-Detached Listings: 15

The Ranch- Sales Activity, Attached   

Price

Status

SqFt

Style

Beds

Address

Office

$189,900

S

2150

2 Story

2

2361 Ranch Dr

WEST02

$229,000

A

2178

2 Story

2

2229 RANCH Dr

CC123

$239,900

A

2614

1 Story/Ranch

3

2133 RANCH Dr

MBN17

$250,000

A / B

2838

1 Story/Ranch

4

11241 WYANDOT St

CBR56

Total Number of Attached Dwelling Listings: 4

Feel free to contact me with any questions you may have about the Real Estate market or your home’s value.

*  The Ranch Sale Activity In November 2012.  Prepared By: Joan Bagwell – Dec 12, 2012 9:42:26 AM.  Information deemed reliable but not guaranteed. Some properties may be listed by other offices. Source: IRES LLC

Pricing Your Home in The Ranch

Pricing your home to sell in The Ranch can be challenging.  Unlike some other, more “cookie cutter” neighborhoods, homes in The Ranch can have huge variances in value.  It is not just a question of valuing common differences, such as the number of bedrooms, bathrooms, finished square feet, etc…  In The Ranch, value also depends on which Filing you are in as well as where you are within that Filing.  For example, a home in Filing 2 that backs to 120th Ave might go for 20% less than a home on an interior lot.  That home in the interior lot could go for 20% less than a similar home that backs to the golf course and has mountain views.  That’s up to 40% less for a location near a busy road versus a similar house, in a location that most people would prefer.

The Ranch also contains a mix of custom homes and “builder grade” homes- which could be located across the street from each other, one street over, or across the fairway.  Differences in building quality and upgrades must also be taken into account when pricing your home for sale.  A home on the golf course in Filing 6 may sell for $400k vs a custom home across the fairway in Filing 4, that might sell for $650k or more.  Some of the valuation difference may be the differences in size, but a lot of it will be due to differences in amenities inside the home, landscaping, upgraded finishes,  and character of the street and neighboring homes, etc…

These factors make it a bit more tricky to place a value on the difference between homes- even for professionals like real estate brokers and appraisers. There are studies done every year that give estimates on the resale value different tangible improvements add to your home. That information should weigh into the calculations for home value.  But those calculations are just value on paper- it does not necessarily translate to a buyer willing to pay more for the house.  Accurately pricing a home is as much an “art” as it is a “science”.   I think the best you can do to get a feel for the value of something less tangible about a home (the feel of the neighborhood, how the house feels and smells inside, the general appeal of the decor, etc), is to see as many houses as possible, track how long it takes them to sell, and what they ultimately sell for.   Most homeowners have only limited public sales information online, and usually only see houses on the inside if they know the seller or are lucky enough to catch an open house on the weekend. Not to mention, most homeowners have jobs that make this kind of pursuit impractical.

As a broker living here in The Ranch, I keep up with the market in our neighborhood through automated notifications from the MLS on the sales activity here.  Each time something new comes on the market, has a price change, goes under contract, or gets sold, I get an email notification.  I do “broker previews” of homes for sale in our neighborhood, so that I can stay on top of the changes in the market.  Yes, it takes a lot of time to do that, but that is part of my full-time job.  And it does give me a good sense of how to objectively place a value on a house (including my own, which can be tough to do).

Research shows that when a home goes on the market, the most activity and attention from buyers occurs in the first two weeks.  That’s the time when there is the most competition between buyers for your home.  It’s the time you are most likely to get an offer close to your asking price (assuming your asking price is at or near market value).  After that point, there is a decrease in the sense of urgency among buyers, fewer showings, and more likelihood of getting low offers.  When I am showing houses, buyers always ask how long the house has been on the market.  The longer it’s been on the market, the lower their offer price will be.

So, it is highly adviseable, when you are thinking of selling your house,that you consult a real estate professional and get an understanding of the current market before setting a price for your home.  This is especially true in a neighborhood like The Ranch where sales prices can run anywhere from $200k to well over a million dollars for a single family detached home. That’s a big range!  It will take some serious research and “comparison shopping” by your agent to figure out a much smaller, more accurate, range where your asking price should be.  Getting that number right when your house first goes on the market gives you the best chance of getting the best price for your home.  You don’t want to miss your 2-week window of opportunity with the most motivated buyers!