Is it better to price high first, then come down?

So long as you keep it in your ballpark, because otherwise you'll be competing against homes with more - well...HOME! 

Consider the following:  One store has a gallon of milk for $2.99.  Another store has a gallon of milk for $5.99 - with a pretty little bow on it.  Where are you going to buy your milk?  If a buyer views your very nice over-priced home, and subsequently views an equally nice but bigger and better at the same price as yours, aren't they going to choose the bigger and better one?  Of course they are. 

Generally speaking, this is how it works.  Unless there's something spectacular about YOUR home - but it'd have to be pretty spectacular. 

Will the bubble burst again just like in 2008?

Lending:
Remember, for a long time after the crash, institutions wouldn't lend money to homebuyers.  With more protective (RESPA/TRID) legislation, and wounds still fairly fresh, lenders are not going to make the same mistakes they made before by lending more money than the actual value of the home itself to home buyers.  Unlike the bubble of '08, current homeownership is built on actual WEALTH, not credit. 

Home Prices:
I liken real estate value to gasoline prices - they go up, and they go down.  Increased home values are currently fueled by three things: the influx of folks from all over the country to Colordao, a stifled condo development due to construction defect litigation, and the legalization of marijuana. 

More PEOPLE than HOMES means higher home values. 

Should I paint before my home goes on the market?

It's important for your walls to have a clean and neat appearance, so long as when you're finished you have more spent in SWEAT than actual money. 

We need to discuss this in person.  In the current market, it's your HOME that the new buyers want.  So it's not as necessary as you might think, particularly since the new owner will paint to his/her tastes and desires anyway.  Do not deprive the new owners of "doing it up" the way they want. 

My general rule of thumb in today's market: if you're holding off placing your home on the market because you want to paint, then you'd better get on the stick.  Clean up your walls - but keep time and money in mind.  How many monthly mortgage payments do you want to make while painting away?

Remember this: the longer you wait to place your home on the market, the more homes there will be on the market for yours to compete against.

EACH KELLER WILLIAMS BROKERAGE BUSINESS IS INDEPENDENTLY OWNED AND OPERATED


Desire Denver Group, Keller Williams Integrity Real Estate LLC
(720) 940-5720    

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WHAT DETERMINES THE VALUE OF A HOME?

The simple answer: 
The price at which a seller is willing to sell, and a buyer is willing to buy. 



SELLERS
Inventory remains at a record low, while the city's population continues to increase.  This is a Seller's Market, and homes are moving quickly!  Desire Denver Group knows how to price your home. 

BUYERS
Due to low interest rates, it's a great time to buy.  Buyers, be prepared to offer competative bids in this market, or your time and emotional energy will have been wasted. 

ARE YOU A RENTER?
Many renters are shocked to learn that their new monthly home payment is less than they were paying in rent.  If you think you're not getting hosed by your Landlord, think again.  High rents are being fueled by the home market - your Landlord isn't stupid.  Contact Desire Denver Group, and we'll make the process of getting approved easy for you.

NOT QUITE READY, BUT WANT TO LOOK? 
No problem - just email me at rich@desiredenvergroup.com and let me know what you're looking for.  I'll start regularly emailing you homes on the market that fit your desired descriptions.  I've been doing this for years for some people.  There is no pressure placed on you - that's not what we do here.


CONTACT DESIRE DENVER GROUP FOR A FREE MARKET ANALYSIS OF YOUR HOME'S WORTH!  
 
Desire Denver Group is here to help you!