February « 2011 « Colorado Springs Real Estate Blog

Archive for February, 2011

5 more reasons your not getting showings February 20th, 2011

Patricia

The real estate market in Colorado Springs is competitive and if your home is not receiving showings it is important to figure out why.

Here are five more reasons you may not be receiving showings on your property:

1.) Days on Market – If a home has been on the market for many, many days, buyer will wonder why the home hasn’t sold. They may automatically assume something is wrong with the house. Stale homes are not as attractive to potential home buyers; yet another reason why pricing correctly early on is so important.

2.) Financing Terms Offered – The buyer pool can shrink considerably if the home has issues and will not work for FHA or VA buyers. If possible and affordable, sellers may want to resolve the issues that would cause problems with loan approval for FHA or VA borrowers. Issues may include structural problems, a bad roof, peeling paint, missing windows or carpet, etc…

3.) The key doesn’t work – Believe it or not, this is not an uncommon occurrence! When making a copy of a key to put in a lockbox, make sure it unlocks the door! Sometimes the deadbolt on the front door doesn’t work or agents cannot access the lockbox on the door if the screen door is locked.

4.) Animals – If you have a big dog that is not kenneled, buyers who are afraid of animals may hesitate on viewing the home. Keeping animals out of the way for showings is important.

5.) It just looks bad! – Even if there are multiple photos in the MLS that were taken by a professional photographer, if the home looks unappealing, buyers will not look at it. Whether it is the color of the carpet, wallpaper, outdated kitchen, or bright yellow paint in the bedroom, buyers may prefer to view another home that is updated and move in ready. Talk with your Colorado Springs Real Estate agent and a stager to find out what work needs to be completed before putting the home up for sale.

Additional Reading: 5 Reasons your home is not getting showings

Colorado Springs Real Estate Agent Patricia Beck, providing real estate services to home buyers and sellers.

Comments Off

5 Reasons your home is not getting showings February 20th, 2011

Patricia

The real estate market in Colorado Springs is competitive and if your home is not receiving showings it is important to figure out why. Look below to view common obstacles that can affect showings.

1.) Photos in the MLS – If there is only one photo of the home in the MLS, buyers often assume the interior must not be attractive or that it may need work since the agent did not include additional photos. If there are multiple photos of the property in the MLS, the quality of the photos may not be up to par. Look at the photos for your home… Are they blurry? Do the rooms look cluttered? Were the photos taken by a professional?

2.) Location – If a busy street name is part of the address, people may automatically reject the property from their list of homes to view on their next outing. This is a tough challenge to overcome. Brainstorm with your agent about ways to market the property (i.e. centrally located).

3.) Showing Restrictions – Buyers may move on if the available hours for showings are complicated (i.e. no showings on Mondays, Thursdays, or Saturdays). If sellers are not easily accessible to confirm showings, the showings won’t happen; ensure the individual scheduling showings has correct contact information during the day, evening, etc…

4.) Price – With so many options available in their price range, buyers don’t need to waste time on viewing overpriced properties. Know your competition and make price adjustments when necessary. Chasing the market down isn’t fun so price your home correctly from the beginning.

5.) Property Description – Property description? What property description? Many homes in the MLS don’t have one, does yours? Buyers want to read information about a home and if there is none, they may assume there is nothing good to say about the home and will move on to something else.

Additional Reading: 5 more reasons your not getting showings

Colorado Springs Realtor Patricia Beck, providing real estate services to home buyers and sellers.

Comments Off

El Paso County Inventory Statistics for January 2011 February 8th, 2011

Patricia

Home inventory decreased by 26% for the month of January 2011 when compared to six months ago (August 2010). Compared to the previous month of December, there was a very slight decrease in single family homes for sale.

Single family Inventory in the Pikes Peak MLS was 5% lower in January 2010 and there were 4 additional single family home sales.

Looking at statistics for January, Single Family Home Inventory in the Pikes Peak MLS is sitting at 9.4 months (compared to 6.9 months in December). Months of inventory took a jump compared to the previous month of December but as home sales increase in the next few months, months of inventory should return back to more normal levels. There is a balanced market in Colorado Springs when inventory sits at 6 months.

Single Family Home Inventory Statistics

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Comments Off

Single Family Home Sales for January 2011 – El Paso County February 8th, 2011

Patricia

Home sales decreased by 27% in El Paso County for the month of January when compared to December 2010.

There were only four fewer single family home sales in January 2011 when compared to January 2010. There were 599 additional single family homes for sale in January 2010. As long as interest rates remain low, home sales in Colorado Springs should start picking up over the next few months.

Compared to the previous month of December, the average sales price ($210,879) and the median sales price ($180,000) both decreased quite a bit. Last January, the average sales price was $211,088 and the median sales price was $178,290.