Upcoming Real Estate Season

As the final remnants of winter are replaced by the promise of a new spring, two things seem to be apparent this time of year…for the farmers it is growing season, and for real estate buyers and sellers it is the buying and selling season. Historically speaking, the upcoming months will be the peak of the yearly real estate market as the inventory of available properties grows and the number of prospective buyers increases.

If you are selling your home, here are a few things to consider for the spring/summer real estate market.

• As the inventory level of available properties increases, buyers “naturally” have a wider selection of options to choose from
• New homebuilders are becoming more aggressive in their marketing, offering discounted prices, appliance packages, home entertainment centers, mortgage incentives, landscaping packages, etc. to attract buyers.
• Unless your home is the “deal of the century”, homebuyers are normally taking longer to make decisions. They are “comparison shopping”, looking for the best value for their money. Buyers have a tendency to want to negotiate more.
• Market values are shifting more quickly. It is important to keep abreast of what is happening in the marketplace, not just in your neighborhood or community, but also in the localized region. Buyers are looking in a wider geographic area these days.
• Location, condition, and value are the three considerations buyers are focusing on when making a decision. Value, what the seller is offering the home for sale at, can often offset poor location and/or condition. More simply said, “Price often overcomes all objections.”

If you are buying a home, here are points to consider when purchasing a home during the spring/summer real estate market.

• Mortgage interest rates have trended up slightly over the past months, as the national economy appears to have stabilized. There is no indication rates will be going back down in the immediate future. Thus, this may be a good time to buy.
• There is a variety of alternative financing options available. Interest only loans are popular for two reasons, first, their interest rate is normally less than comparable fixed-rate mortgages, and second, principle reductions can be made at anytime, which immediately reduces the monthly payment.
• As a prospective buyer, do your due diligence when deciding to purchase a home. Inspections, schools, access to shopping and medical facilities, neighborhood functions, and don’t forget about environmental concerns, such as, radon gas, mold, and lead based paint.
• Finally, as noted above, the geographic area for buyers looking at homes has expanded significantly in the past decade throughout the country, which provides prospective buyers many new options.

Advances in technology have resulted in buyers and sellers having more timely access to information regarding real estate. As such, from a seller’s perspective, it is important to price your home competitively. Buyers normally are aware of how long a property has been on the market and whether it is priced competitively.

Therefore, when you plant that Boulder Colorado Real Estate for sale sign in your yard, make sure it still isn’t there later this year when the final remnants of fall give way to the promise of a cold and snowy winter.

=======================

If you are looking for a Boulder Colorado Home, Boulder Condo, Boulder Colorado Condo, or Downtown Boulder Condo investment property, contact your Downtown Boulder Colorado Real Estate Expert today!