November 18, 2020
Are you entertaining thoughts of selling your house in Northern Colorado? You may be thinking that since you missed the spring or summer selling seasons, that you will have to wait until 2021 to generate interest while also getting the price you desire.
As it turns out, the local real estate market is behaving just like most of 2020 – strange and unexpected! 🙂 As we close in on Thanksgiving, the market continues trending in the Seller’s direction. In spite of what you may have always believed, now is the perfect time to list your property. To get you inspired if you still aren’t quite sure if you’re ready to take the plunge, here are 4 legit reasons why it makes great sense to sell now in Northern Colorado.
1 – High Demand, Low Supply
As life with ever-changing stay-at-home orders has become the norm, people have adapted to their current reality and are finding ways to return to some semblance of normal.
Though some homebuyers scrapped their plans to move entirely as they dealt with the circumstances surrounding COVID, many forged ahead and sought out their forever home. From the earliest days of the shutdown until today, buying has remained remarkably strong, home values continue to rise, and the average days on market for most homes is quite low!
The short version of what that means is this – there is a shortage of desirable single-family homes in supply.
Those buyers who may have been tentative to move ahead in the early spring, have now re-grouped and are ready to press on. People are still seeking opportunities to find and move in to a new place by Christmas!
This leaves home sellers in a position to field a flood of offers if they do some upfront maintenance work, price competitively, and make their home accessible for showings and Open Houses.
2 – Property Values Are Way up
Another effect of the supply and demand dynamics we are seeing is an explosion in home values.
Demand drives the market, and the more interested buyers you have staking out your place, the higher your offers will be when you sell your house in Northern Colorado.
In this Seller’s Market, it is not at all uncommon for a seller to receive multiple offers from two or more competing buyers. That is why it is crucial, especially now, to have a Real Estate Professional whom you know, like, and trust in your corner. The right REALTOR®️ will work for you in those negotiations, helping you to maximize your WAM – walk-away-money – from any deal that is closed.
Leaning on the negotiation tactics and experience of a qualified real estate professional will go a long way toward ensuring you are able to maximize all offers that are submitted.
3 – Economic Indicators Are Good
Through the pandemic, the federal government has worked to assist in creating a favorable economic climate in order to maintain the well-being of individuals and families.
The biggest factor in helping the average American was the Federal Reserve reducing interest rates, effectively making mortgages easier to obtain at lower rates. This has led to an influx of mortgage refinances, and helped stabilize the real estate market.
As time goes on, we’re seeing economic forecasts even out, and markets returning to an expected equilibrium. With the increased economic confidence comes higher mobility amongst homeowners, making it a great time to sell your house in Northern Colorado.
4 – Evolving Buyer Needs
One final, major point that cannot be ignored is that COVID has necessitated change, both inside and outside households. Remember the old saying, “Necessity is the mother of invention.”?
Entire sectors of the workforce have morphed kitchen tables and dens into office workspaces out of pure necessity. It’s fair to assume this change is not as temporary as some may think, and buyers will be entering showings while keeping in mind what they truly need to get out of the available space. In a recent Open House I hosted in Erie, the first thing the prospective Buyer’s were looking for were spaces that could easily be converted into a home-office and virtual classroom environment.
Making the effort to highlight those helpful spaces and features in your for sale home will make it stand out, and now is the perfect time to leverage an emerging market trend.
Professional Help to Sell Your House in Northern Colorado
If you’re even considering whether now is the right time to sell your house anywhere in Northern Colorado, contact me today at 970.820.0969! Calls or texts will be warmly received with a prompt response. Email is great too – tavery@c3-re.com.
