Colorado Resorts Real Estate Video Blog with Kevin and Amy Smits

Showing posts with label market update. Show all posts

How Things Have Changed Lately in Our Local Market

Our market has been undergoing a lot of changes lately, and so today we’d like to share a quick update on what this recent activity may mean for you and your goals.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation
Call me at (970) 418-0183 for a FREE home buying or selling consultation

It has been a great time of change here in the mountains as of late, and our real estate market is no exception.

We are seeing new properties listed every day. If you’re thinking of buying or selling, know that now is a fantastic time to do so. Things are moving fast in our local market, and our team would be happy to help you take advantage of this current activity.

Whether you’re looking for the perfect home, are ready to sell, or have questions about your current property’s value, we have what it takes to guide you to your goals.

If you have any questions about buying or selling your home in this market, please feel free to call or email. I look forward to speaking with you soon.

Why Agents Are Important Even if You’re Selling Your Own Home

As spring turns to summer, the market is starting to heat up. Now is a great time to get a jump on the market if you’ve been thinking of buying a home.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call me at (970) 418-0183 for a FREE home buying or selling consultation

It is a beautiful spring here in Frisco and we’re enjoying some lovely weather in the mountains. If you are thinking about visiting, this is a great time to come up. Today we are going to talk about why you need a real estate agent even in a hot seller’s market like this and even if you are selling your home on your own.

Over the last few weeks, I have been hearing from buyers and sellers who want to know about the For Sale By Owner (FSBO) market. Here are a few recent stories I can share.

First, we just listed a home for someone who wasn’t having much success selling her home FSBO. We had to adjust the price down a little bit, we got professional photos taken, and got the word out to a lot of people either in the area or looking for a home in the area. The property received a full-priced offer in just two weeks. The seller was very excited and is looking forward to closing in the next few weeks.

The next story is of a couple who were trying to sell on their own and they put a very small sign attached to their mailbox. I was showing property in the neighborhood and I gave them a call because I thought one of my buyers might be interested in the home. I told them I wasn’t trying to persuade them to list their home with me, but they proceeded to tell me just how horrible their experience was. They were fielding calls at all hours and they needed help. I ended up listing the home, brought the perfect buyer in, and got the title work, surveys, and disclosures covered.

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We still have some great inventory available here in Frisco.

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The main takeaway here is that buyers don’t want to work directly with FSBO sellers. That is why we want to help. If you have seen a FSBO home in the area and you are interested in it, we can provide some insight into the property and maybe even the sellers themselves. We try to find all the FSBO sellers out there and get their information for all of our buyers.

Location is just part of the equation when it comes to selling a home. It is also very important to market the property correctly and provide the most accurate information to buyers in order to make the process as smooth as can be.

Check out the links below for specific details on each area:

We still have some great inventory here in Frisco, so it is a great time to come look at homes if you have been thinking about it. If you have any questions about the market or need any help, don’t hesitate to give us a call or send us an email. We would love to hear from you soon.

Your 2017 Real Estate Market Update

How did the 2017 real estate market do? I’ll give you a quick breakdown today.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Call me at (970) 418-0183 for a FREE home buying or selling consultation

Today, I’d like to take a minute and look back on the real estate market for 2017.

2017 was definitely a recovery year for real estate. Prices continue to go up in every single area, from Summit County to Vail to Beaver Creek.

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Prices continue to go up in every single area.

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Check out the links below for specific details on each area:

Summit County

Silverthorne

Keystone

Frisco

Dillon

Copper Mountain

Breckenridge

If you have any questions, please don’t hesitate to reach out to us.

Next year, we are excited to introduce you to new businesses so you can get to know some of our local business owners. Look for that in our next blog post.

In the meantime, have a happy holiday season and we will talk to you next year!

The Latest Real Estate Trends in East Vail & Summit County

Homes are still selling quickly in East Vail and Summit County, but there are a few changes in the market. We have your full market update today.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Call me at (970) 418-0183 for a FREE home buying or selling consultation

What’s happening in the East Vail and Summit County real estate market?

Properties coming on the market right now have come down a bit in price. Yesterday, there were 31 price reductions. Buyers are ready to buy, but properties need to be priced correctly in order to sell.

That said, homes priced under $500,000 tend to sell in less than a week. Homes between $500,000 and $1 million are selling in under two months. However, homes over $1 million are selling slower, since that is where we have the majority of our inventory. There are also fewer buyers in that price range.

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Homes priced under $500,000 are selling in less than a week!

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If you are thinking of buying or selling a home, reach out to us and make sure that we have your housing criteria set up correctly. Homes are selling quickly, and it’s important that we match your motivation to our motivation. If you want to buy quickly, for example, we want to be able to get in touch with you as soon as possible. If you don’t want to buy for another year or so, we want to check in with you every couple months to touch base.

We also have a couple of exciting new properties that will be on the market. There are two brand-new duplexes that will come on the East Vail market in the next couple of weeks at $2 million. If you are interested, let someone on our team know and we will send you as much information as we can, including 3-D tours.

We also have a couple of condos in the $350,000 price range. Those will sell quickly, so get in touch with us soon if you are interested.

As always, if you have any other real estate questions, just give me a call or send me an email. I would be happy to help you!

The Fire Is Over in Summit County

Thank goodness the recent wildfire has been put out. Now things are getting back to normal in Summit County real estate.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Call me at (970) 418-0183 for a FREE home buying or selling consultation

Thank goodness that the winds have shifted and we are finally getting some rain in Summit County. The fire last week was frightening. Anytime you see flames in the mountains, it’s pretty scary.

Although parts of Breckenridge were evacuated, everyone is back home safe now and the fire is out. We were lucky that the winds shifted and the rains came. Thanks to everyone who had a hand in helping control and put out that nasty fire.

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The wind has shifted.

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As far as the real estate market is concerned, our inventory is finally starting to pick up. The average days on market remains extremely low. If you’re looking to buy a home up here, give us a call, text, or email now so we can start aggressively searching for a home for you. Even if you’re out of town, we can FaceTime or Skype you in to take a look at any homes. There are quite a few that have recently come on the market.

If you have any questions for us, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

What's Been Happening Here in the Summit County Market?

What's going on in the Summit County market? I've got an update for you today covering the whole first half of 2017.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call me at (970) 418-0183 for a FREE home buying or selling consultation

It's hard to believe that we're heading into summer, which means the first half of the year in real estate activity is already behind us. So what's been going on in the Summit County market?

Just like the last few months, inventory has been low, demand has been high, and we see that continuing. However, we've seen an uptick in listings. For example, in Frisco our average for the last three months has been 13, and now we're at about 15, and we're seeing that across the county. That's great news for homebuyers.

The average sales price over the last six months was $725,000, which is up from this time last year. The average number of days a listing spends on the market has fallen too. The median days on market for homes priced under $400,000 is about seven, and as you go up in price, it also increases, but only by a day.

For the first half of the year, the overall average days on market was 52. We're seeing that go up just in the last month to about 65. I think we're seeing sellers coming on higher and higher with list prices and buyers are resisting a little bit. Basically, buyers are looking to buy, but they aren't willing to overpay.

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Sale prices and the number of new listings are both up.

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The other price range that has been interesting to me is $2.6 million to $2.8 million where the average days on market was just three. When people see houses they like, they're buying them quickly.

Here are the market reports for these areas:

Breckenridge

Copper Mountain

Dillon

Frisco

Keystone

Silverthorne

Summit County

If you have any questions about a specific area or you're thinking of buying or selling a home in our market, give me a call or send me an email soon. I'd love to hear from you!

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365 Things to do in Summit County

What's Going on in the Market Since We Started 2017?

What's going on in our local market? The current quarter looks a lot like the fourth quarter of last year. Here's what that means to you as someone looking to buy or sell a home this year.

I wanted to stop by with a quick update on what's going on in the market so far in the first quarter of 2017. I've also got some tips for homebuyers on how to win the home they want.

So far in 2017, the first month looks like the last quarter of last year: home prices have started to go up a bit and inventory is still at an all-time low. In other words, we're still in a seller's market.

The average price for single-family homes ranges from $1.2 million in Keystone to $1.8 million in Frisco. The average number of days on market in this area is still in the 170 to 200 range. The price range for condos and townhomes is in the $400,000 to $500,000 price range with the average days on market closer to 50. That number is a lot lower for properties that are priced right.

So how can you win as a homebuyer? Now is still a great time to buy a home because money is so cheap. To be the best buyer when competing against other buyers, you want to be pre-approved for a mortgage. Getting pre-approved means you provided a lender with two years of tax information, pay stubs, and everything you'd need as if you were under contract. When you write an offer, being pre-approved shows the seller that you're serious.

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Now is still a great time to buy a home because money is so cheap.

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Properties under $500,000 are selling extremely quickly, so it's more important than ever.

If you have any questions about our market or making an offer on a home, give us a call or send us an email. We'd love to help you!

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.

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's Happening in Summit County & Vail?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call our team at (970) 333-3029 for a FREE home buying or selling consultation

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!

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