Real Talk on Real Estate from the Pikes Peak Home Team

Sellers: Price Your Home for the Market

3/9/2019


Ever wonder what happens to properties with overly optimistic sellers? This is a fine example of what not to do.

Michael Jackson's Neverland  is a  2,700-acre property which  boasts a French Normandy-style 12,598-square-foot main residence, two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a barn, and a Disney-themed train station.

It was originally listed for $100 million in 2015 and discounted to $67 million two years later. 

It has been rebranded as Sycamore Valley Ranch and was recently re-introduced to the market at $31 million, less than half its previous asking price! 

This property has been on the market for four years despite millions of dollars in renovations, price cuts, and a new name. It's an amazing property as you can see from the Zillow ad. But was it worth $100 million? No. $67 million? No. $31 million? We'll see. Meanwhile, the bills keep coming. 

Moral of the story? Price your home for the market. Pikes Peak Home Team can help you do that - give us a call - we'll get it sold, not just listed.

Why You Don't Want to Skip that Buyer Consultation!

3/4/2019


Don't be part of that 'Seventh Circle of Hell'  - Don't Skip that Buyer Consultation!

As a team, we are happy and proud to help buyers of all types, including first time home buyers! It is part of our job and an obligation to help our buyers to be as informed as possible. The free, no obligation buyer's consultation is an essential step in that process. Even as a seasoned buyer, we recommend taking advantage of our consult and discover how things have changed and help us learn more about you and your preferences and needs. The consultation generally only takes about an hour. We will sit down with you in front of the computer, create a personalized web page search, review the most recent contracts and we can even help walk you through that loan pre-qualification process. As a buyer, you don't want to be caught unaware or uninformed like some other buyers have been.

Click here to check out this recent article about a few buyers that felt caught in the 'seventh circle of hell' during their buying process. It is our goal to save you all from that feeling! Let us help you become an informed, well-prepared buyer. 

 

How Sellers May Cause Median Market Price to Drop

2/28/2019


The Denver market has seen a recent drop in their median sales. And as Denver goes, we know Colorado Springs is soon to follow. But maybe we can learn from their mistakes. 

Here's what's happening to our neighbors from the north: 
The Median days on market in January increased from 13 days to 30 days from January 2018 to January 2019. This tells us that more homes are taking longer to sell. We are also seeing our Sales Price to List Price Ratio drop. This tells us that homeowners are over-pricing their homes at initial listing - and what happens if you do that?

Almost always the seller must drop the price dramatically later to sell their home and this price drop is being reflected in the year over year slowing of price increases. For example: say a home is properly listed, staged, photographed, marketed, and priced, and let's assume the Ideal Price is $450k - and that the home was worth $440k last February. However, the seller decides to list for $475k. It doesn't sell, of course, so they must drop the price of the home several times and it finally sells for $435k. 


Thus, the year over year price dropped a little over 1%. However, if the seller had listed the home for $450k or $455k and sold for $450k the home's price would have increased by 2.3% from $440k to $450k. Thus, in essence the sellers CAUSED their home value to drop by being greedy upfront.

And this is why Denver's median market price has dropped.

Moral of the story is: Price it Right to Sell.

Forget Downsizing: Try Rightsizing

2/23/2019


What matters isn’t how big or how small you go, but how appropriate the new space is for your lifestyle and budget. We can help make it easy to rightsize.

Through our knowledge, education and contacts we can help make it easier for you and your loved ones to rightsize. We are trained to assess the situation. One of the first steps is to identify where you are going and what square footage you will need in your next property. Once that is determined, we can help you with the next steps of sorting and preparing the current home for sale. We will help with checklists and maintaining a schedule. 

What items can be donated? What items will be sold? Will you hold an estate sale? What items can go to children or other family members?  We have experts to help guide you through those hard decisions and to minimize the stress of the transition.  I's not just downsizing - it is right-sizing. Guiding you into a situation that is manageable and healthy. 

Learn more about right-sizing here.

The Pikes Peak Home Team is Certified to Work with Seniors!

2/19/2019


Both Kim Rossbach and Kathy Tutko have received The Seniors Real Estate Specialist® (SRES®) designation for REALTORS®. We are qualified to be able to meet the special needs of maturing Americans when selling, buying, relocating, or refinancing residential or investment properties. By earning the SRES® designation, we as REALTORS® are prepared to approach mature clients with the best options and information for them to make life-changing decisions.

For more information call Kathy and Kim to schedule an informational appointment today or visit the SRES website.

Plan to Sell Your Home? Here is How to Maximize Your Home Value

2/15/2019


Sellers, to get the best offer for your home you will need to put in a bit of work to make your home look its best. Here are some helpful suggestions.


Create Great Curb Appeal

If buyers won’t get out of the car because they don’t like the exterior, you’ll never get them inside.

  • Keep the sidewalks cleared
  • Mow the lawn and trim the bushes
  • Paint faded window trim
  • Plant or pot colorful flowers in the summer
  • Make sure visitors can clearly see your house number
  • Remove snow in the winter

Showing Your Home

If the house looks comfortable, but not personal, you are almost done. 

  • Open drapes to let the sunshine in and turn on lights
  • Fresh flowers are a little luxury that make people feel good
  • Make sure the temperature is comfortable
  • Appeal to all the senses - Your home should smell fresh
  • Outdoor living spaces are becoming more important to people today, so add a few decorating touches

Make the House Shine

  • Wash windows inside and out
  • Re-caulk tubs, showers and sinks if necessary
  • Polish chrome faucets and mirrors
  • Vacuum regularly
  • Dust furniture, ceiling fan blades and light fixtures
  • Clean dingy grout
  • Replace worn rugs
  • Hang up fresh towels
  • Replace that old shower curtain

De-Personalize: The number one rule in staging is to de-personalize. Pack up those personal photographs and family heirlooms. Heck, you’re moving anyway.

Rearrange Closets and Cabinets

Buyers may open closets, kitchen and medicine cabinets, so:

  • Organize pantry and cabinet contents
  • Reduce closet contents to half-full and organized
  • Neatly arrange clothing, shoes and shelf items
  • Put medicines and personal items out of sight

 De-Clutter: Almost every home shows better with less furniture!

  • Pare furnishings down to the bare essentials
  • Pack up those cute knickknacks
  • Clean off everything on kitchen counters
  • Remove personal items from bathroom counters 

Make Minor Repairs

  • Replace burned-out light bulbs
  • Replace cracked floor or counter tiles
  • Patch holes in the walls
  • Fix leaky faucets and doors that don’t close properly
  • Consider painting the walls neutral colors

How to Make People Love Being in Your Home

2/11/2019


Since this week is Valentine's Day I thought I would share some ideas on love, particularly how to make people love being in your home.

Ways to make your family and guests feel comfortable:
A warm, well-lit entry way where there is room to place their coats, scarves, purses and boots
An environment that is cool in the summer and warm in the winter
A well-lit kitchen with comfortable bar stools or chairs where you can sit and laugh over a cup of coffee or a glass of wine
A comfortable living room where people can relax and see the fireplace, TV and scenic views outside
A patio outside with comfortable chairs, and areas for sun as well as shade
A guestroom with a clean, uncluttered bed and sitting area as well as room in the closet for their personal belongings
Most importantly, you should be comfortable in your home. Every room should be designed and decorated for everyday use so you and your family enjoy entertaining in your home.

New to the Area? Check Out Our Community Resources

2/6/2019


When you move to a new area it takes time to find various resources. We've made that easier for you by compiling a list of Community Resources that you will find useful.From Cable and Internet providers to Local Utilities to Schools to Weather and Road Conditions and more. Here are the phone numbers, websites, addresses and office hours for businesses you need to reach to get settled into our community. Bookmark this list and use it to save yourself a lot of time tracking down this information.


Community Resources

We Know Why Colorado Springs Ranked 2nd on US News & World Report's list of Best Places to Live in the United States

1/28/2019


Did you know that in 2018 U.S. News & World Report's ranked Colorado Springs #2 on its 2018 Best Places to Live in the United States list? U.S. News & World Report's list ranks the country's 125 largest metro areas based on affordability, job prospects and quality of life. The list was determined in part by a survey to find out what characteristics people consider most important in a hometown.

Those of us who have lived here in the Colorado Springs area for decades are not surprised by this ranking. It's why so many people are moving to our community. Of all of the wonderful attributes of our community which is your favorite?

     Beautiful scenic views in every direction
     Strong economy with low unemployment
     Tons of fun outdoor activities to do year-round
     Lower cost of living than many large US cities
     Close proximity to world class ski resorts and national forests
     Festivals, parades and galas several times every month year-round
     Great restaurants with a wide variety of cuisine
     Vibrant downtown area with restaurants, galleries, craft breweries and clubs

 

Featured Agent: Kim Rossbach

1/24/2019


Kim Rossbach is a founding member and co-team leader of the Pikes Peak Home Team.

Kim has over 20 years of Real Estate Marketing and Appraisal Experience and specializes in marketing properties throughout Monument, Palmer Lake, Colorado Springs, the Black Forest and other beautiful areas in Douglas and El Paso Counties - where ever Pikes Peak casts its shadow! Kim has been a Colorado Licensed Real Estate Broker since 1991.

Kim’s credentials include Certified Negotiating Expert, membership in both Pikes Peak Association of Realtors and Denver Metrolist. 

Whether you are new to Colorado, an investor seeking properties to expand your portfolio, or moving within the region, Kim will provide you with the highest service guaranteed to provide you with the results you need.

Kim is well respected in our community by past clients, her fellow Realtors, and peers within the real estate and business community. 

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