Colorado Resorts Real Estate Video Blog with Kevin and Amy Smits

We Hope Your Holiday Season Is Magical

We wanted to reach out and wish you happy holidays. We hope you enjoy your time with family and friends.

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I just wanted to reach out quickly today and give a big thank you to everyone who stopped by and picked up a pie from us over Thanksgiving. It was so great to see so many of you. We loved catching up. I also wanted to take this time to wish everyone a merry Christmas, happy holidays, and a happy New Year.

We’ve got some new listings coming on the market soon in the $500,000 price range and we know they will sell quickly. If you’d like a look at them before they go to market, give us a call or send us an email.

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We are looking forward to 2017.

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This past year was a great one for our team, but we think 2017 will be even better. If you have any questions for us, don’t hesitate to reach out and give us a call any time. We are always here to help. Once again, have a merry Christmas, a happy New Year, and a wonderful holiday season.

Thank You for Your Support!

Why Was the 3rd Quarter So Strong?

The third quarter was extremely strong in our market. It's definitely a seller's market, so you need to be prepared if you're thinking of buying or selling a home.

Today I wanted to talk about the 3rd quarter results from the Colorado real estate market.

It's definitely a seller's market. A lot of homes have sold and inventory is low, and we also have a lot of people looking to buy a home here. We currently have 459 properties pending and 540 still on the market with an average price of $449,500. We had more than 1,000 sales in the last six months in our market and most of those sales came from the $200,000 to $400,000 price range.

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It's definitely a seller's market.

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There are only 49 properties on the market in that price range currently. Homes are actually selling in an average of fewer than three weeks, but the properties still on the market are either not what people are looking for, not in perfect condition, or possibly overpriced.

Interestingly enough, the $1.6 million to $1.8 million price range is the other one that's really moving right now. The average days on market for this range is just over 30. The $400,000 to $600,000 price range is doing well, but it's also the price range with the most inventory; 83 properties are under contract, but there are still more than 80 properties available on the market.

Here are the market reports for these areas:

Breckenridge

Copper Mountain

Dillon

Frisco

Keystone

Silverthorne

Summit County

As you can see, the 3rd quarter has really been a great quarter for our market. When it comes to our team, typically the 4th quarter is our best quarter, but this year, the 3rd quarter was the best quarter we've had in 12 years! Homes are selling quickly and we have buyers who want to buy as long as the home is priced correctly.

We're looking forward to a great 4th quarter. If you're thinking about buying or selling a home soon, you need to be ready, and we'd love to help you do that. Give us a call or send us an email!

It’s a Smart Time to Sell in Frisco

Winter is coming, but there is still a great market out there for sellers. We have seen multiple homes sell recently for over asking price with multiple offers.

Even though you may have seen a lot of properties come off the market recently in Frisco and Vail, it’s still a fantastic time to sell your home. We still have a ton of buyers in the market and when you combine that with low inventory, it creates the perfect storm for sellers. There have been even more buyers in the market since it has recently snowed.

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We still have a ton of buyers in the market.

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There are several homes that have sold in the last month for over list price in less than a week. All of them had multiple offers as well. Click here to view them!

If you’ve been thinking about selling your home in Summit County or Vail, give us a call or send us an email. We look forward to hearing from you soon and we are always here to answer any questions you may have.

A Simple Trick to Take 8 Years Off Your Mortgage

We’ve got an especially helpful tip for homeowners today. For those of you with a 30-year mortgage, listen to this.

If you just make one extra payment per year on your mortgage, it will reduce the length of your loan from 30 years to 22 years. Interest rates are at an all-time low, so now is a great time to buy. The Federal Reserve is likely to raise them soon, so it is in your best interest to act sooner rather than later.

As interest rates go up, prices will start to stabilize. If you’d like to learn about how this will affect your individual situation, give us a call or send us an email. We would be happy to put you in touch with one of our lenders.

Oh, and a quick reminder, we have a great 4th of July party coming up in Frisco. Stop by and enjoy the parade! Next month, we’ll talk about all different kinds of investment property.

We look forward to seeing you then!

The Problem With Zillow

Can you trust Zillow to give you an accurate home valuation? The truth is, you really can’t.

In most cases, Zillow’s Zestimates are off by 5% to 15%. Zillow uses a basic algorithm that pulls information from similar homes in your neighborhood. Zillow cannot take your new kitchen, special location, or incredible views into account.

The best way to find your home value is to talk to a professional real estate agent. We can see what improvements you have made to your home and compare it to other, similar properties.

Zillow is a great tool to get an idea of your home’s value, but it’s not accurate. If you’re curious about how much your home is worth or you have other questions, give us a call or send us an email. We would be happy to help you!

How to Handle Home Showings in Summit County

Some of my clients in Summit County have been asking me about home showings. They want to know whether or not they should be present during a home showing.

The short answer is no, absolutely not.

I know it can become inconvenient, but you need to vacate your home during a showing. You can run to a coffeeshop, go exercise, or do anything that doesn’t involve you being at home.

Buyers tend to feel very uncomfortable looking at a home when the owner is present. Just imagine how you would feel if you were in their shoes. It would be a little awkward, and you’d probably leave the showing with a bad impression.

So, if you want to sell quickly, don’t be present during a home showing.

If you have any other questions about the real estate market here in Summit County, please don’t hesitate to contact me!

What Should You Look for in a Good Offer?

Today we are going to answer one of the questions we have been getting asked a lot. A lot of sellers have been overwhelmed by the number of offers they’ve been getting on their homes, and they want to know what a good offer looks like. We’re here today to tell you.

First off, whether an offer is “good” or not depends on a few factors. For example, the price. It the property is priced well and at market value, we are seeing those homes get offers of 95% to 97% of list price.

In Summit County, most homes sell between 87% and 98% of list price. When the property is priced right, we see people offer anywhere between 92% to 97% of list price, and we usually see negotiation take place as well. We’ve been seeing quite a few full-price offers and offers over list price as well, so that’s something to keep an eye out for.

If you have any questions at all, don’t hesitate to give us a call or send us an email. We would love to hear from you!

How Long Will It Take to Sell Your Home in Summit County?

Many sellers in Summit County want to know how long it will take to sell their property. This is a great question because timing is everything in the real estate market.

The truth is that it will depend on your price range and how well you are priced. If your home is in good condition and priced right, it will probably sell fairly quickly.

Homes that are priced right and cost under $750k are selling in less than 90 days. When we get into the higher price ranges, it’s harder to determine because we have fewer buyers for those homes.

If you have any further questions about your time on the market, please don’t hesitate to contact me! We think 2016 will be a phenomenal year to sell a home.

We look forward to hearing from you!

An Update on the Vail and Summit County Market

Today we just wanted to share what is going on in our market in Summit County and Vail. We’ve been getting a lot of questions lately about whether we’re in a buyer’s or seller’s market, and today we’re going to answer that question.

Lately, we’ve been telling everyone that our market is in a perfect storm right now. There’s not much inventory available out there, so it’s a good time for sellers to enter the market because they will be up against little competition.

For buyers, we are seeing prices trending upwards, so now may be a good time for them to enter as well. All you need to do is find that one perfect property, and right now interest rates are extremely low. You can afford much more home now than you could have in the past. A majority of the interest rates out there are below 4%. Interest rates for investment properties are slightly higher but still historically low.

Thanks for joining us today. If you have any questions about our market or about real estate in general, give us a call or send us an email. We would love to hear from you!

What Do Current Market Trends Mean for Buyers and Sellers in Frisco?

Right now, inventory in Frisco is quite low, which is normal for the winter months. A lot of people rent their properties during this time for rental income. This actually creates a perfect storm for real estate if you know what you’re doing.

Low inventory obviously means it’s a great time to sell, especially when demand is as high as it is. On the buying side of things, interest rates remain incredibly low, which means you can stretch your dollar further if you find the right property.

If you would like a more detailed look at our market, or if you would like expert advice about real estate in the area, please don’t hesitate to reach out to me. I would love to hear from you!

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