Is it too late to list your home? As we're heading into fall, most of you know that we sell a lot of homes over this next month, and then the market slows down. People take their homes off the market and put them into a rental pool, thinking they can net more money in the spring. However, we do not have many properties on the market right now. We only have 850 properties listed. In 2007, we had about 4,000 homes on the market at this time. If you're thinking about selling, you need to know that we are in a solid seller's market right now. There are a lot of buyers looking for homes, and if you list now, you could get some multiple offers.
We know that a lot of you may have your homes in a rental pool. We know how to work with the rental companies to show your property. This is the time when people look forward to snow. They are planning vacations to Summit County and Vail for the winter. The buyers out there are serious, whether they are looking to buy or rent. Overall, now is a great time to consider selling your home. If you have any questions about listing, give us a call or send us an email. We look forward to hearing from you!
Today we are going to continue our discussion on pre-approval letters and why they are so important in a type of market like ours. Last time, we talked about how important a pre-approval was compared to a pre-qualification, including the fact that it's a much more thorough and validated process. Right now in Frisco, we still have very low inventory. We have just 958 homes on the market, and over 300 under contract, with 741 homes closing in the last 6 months. Homes are selling quickly, so it's really important that if you're considering buying, you are ready. Having a pre-approval letter is a big part of that equation.
You want to have that pre-approval for a seller because they know the difference between it and a pre-qualification. With a pre-approval letter, the seller knows that you are vetted and approved by a lender, after having received all of your financial information. We recommend to everyone thinking about buying any time in the next 180 days to start working with a lender now to get a pre-approval letter. Our average days on market is half of what it used to be, and the pre-approval letter is essential to presenting the best offer possible. If you have any questions for us, or want to get a pre-approval, give us a call or send us an email. We can get you in touch with one of our guys to help you out!
Today we'll discuss the difference between a pre-qualification letter and a pre-approval letter. A pre-qualification letter is very easy to attain. You simply call a lender and tell them your name, address, social security number, and how much money you think you have. The lender runs a credit report, and then, based on just that small amount of information, they type up a letter saying that you are pre-qualified. In order to get a pre-approval letter, you have to go through a real process. You provide your taxes, paystubs, and bank statements, and they run a credit report. When we send a pre-approval to a seller, they know that the lender is sure that you are truly approved to buy a home.
In our current market, we're starting to see multiple offers and a lot more competition. Having a pre-approval letter puts you far ahead of other buyers who only have pre-qualification letters. We do ask our clients to get pre-approval letters while we're out looking at properties. That way, when we find you the right home, we know that we are ready to put in a strong offer. Whether you're getting a pre-qualification or pre-approval letter, it is typical that you would pay for the credit report. However, this is the only cost to our buyers. If you would like to get a pre-approval letter before looking at properties, give us a call for a list of our preferred lenders.
"I had great results. She sold my house quickly, and she helped me negotiate a price on a new home. We had answer on the new house in about a week with the price that I wanted! Any time I had a question, all I had to do was call. Everyone knew an answer. They were always available to help however they could. I consider Amy Smits to be magic!" -Peggy Gibbs, Home Owner
Have you been thinking of selling your Frisco home? If so, we have some great information for you today about getting it ready to list and selling it for the most money possible. When you sell your home, the first thing that potential buyers are going to see is the outside. That's why your curb appeal is so important. You want to make sure your yard is clean, and maybe plant some pretty flowers. If your home needs to be painted, do it before you list. It will only increase the buyer's excitement when they see your home for the first time.
One thing that we tell all of our sellers is that they need to declutter their homes. Everyone typically has at least 6 boxes worth of clutter inside their home. Removing family pictures and personal items from your home may not be what you want to do, but it's important to look past the temporary feeling of not having your items there in order to look forward to selling your home for top dollar. We have a home stager on staff, who will spend an hour with you and give you an idea of the things you can do to make the space in your home look better. A staged home sells faster and for more money than those that are not. When we list homes, we do ask all our sellers to have their home pre-inspected because that's another opportunity we are taking away from the buyers to negotiate the price. We also ask our sellers to offer a home warranty, which is really helpful for their peace of mind. If you have any questions for us, feel free to give us a call or send us an email. Talk to you soon!
Hey everybody, thanks for joining us today for a market update on the latest news for the Summit County & Vail real estate markets. Right now, our market is extremely unique. It's more of a seller's market because of our lack of inventory (just 700 homes on the market). When buyers come to Summit County and Vail they don't have a lot to look at, which is great news for sellers thinking about putting their homes on the market. The best homes can get a little more money from buyers than they could last year.
The price point finally went up this last quarter, and most homes saw at least a 10% increase in home values. This is another great sign for sellers, but also a warning sign for buyers not to wait too long to purchase before homes get too expensive.
When July 1 comes, our inventory will double. We could have up to 4,000 homes on the market at some point in the summer, which is when we do about 65% of our business. The longer you wait, the more competition you will have to deal with.
If you are thinking of selling, conditions are perfect. Sellers are even receiving multiple offers. If you're thinking of buying, taking advantage of our historically low interest rates will save you thousands of dollars over the life of your loan.
If you have any other questions for us, feel free to give us a call or send us an email. We will talk to you soon!
