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Chris Kopf Coldwell Banker Mountain Properties

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Determining Market Value Selling And Buying Crested Butte Home

August 17, 2018 By Chris Kopf

Determining Market Value Selling And Buying Crested Butte HomeDetermining Market Value Selling And Buying Crested Butte Home

Determining Market Value is equally important to a buyer and a seller. What is a home worth? The real answer is it is worth the price a buyer is willing to pay, and one a seller is willing to accept. This may sound trite, but it is a fact. For the seller, it only takes one buyer, and for the buyer, there may be only one home that is their perceived dream home. But what really goes into determining market value and what do you do with the information?

Sellers vs. Buyers

Determining Market Value Selling And Buying Crested Butte HomeSome sellers want to focus on how much it cost them to design and build the home. They focus on what they paid for the home, or how much money they have sunk into remodel projects. This is interesting information, but the market will usually dictate the relative value of any home.

Buyers don’t care that a seller bought at the top of a market cycle. They don’t care how much a seller paid for a property, how much a seller “has in” a remodel project, how much the seller’s mortgage is, or how much a seller “needs” to net from the sale. Buyers want The Most For the Least. It is a price war and a beauty contest, and as a seller, you have to win both.

Pricing Crested Butte Home

Once a home is put up for sale, most sellers are motivated to sell their home as soon as possible and at the highest possible price. Pricing a home correctly is the single most important factor in determining if a home sells quickly, or at all.

Determining Market Value Selling And Buying Crested Butte Home

Location and quality are key in determining price. Whether it is a buyer’s or seller’s market and the inventory of similar properties for sale will also impact the price (supply and demand). The best data to help determine market value for a particular home is to look at what similar properties have sold recently, and if they are really comparable.

As a buyer, you may love a home, but not the price. Is the price justified given the market? You will be relying on your agent for guidance here. As a seller it’s also important to rely on your real estate agent. This is another reason it’s so important to find the right real estate agent for you. I get clients who ask me what I think – if I have done my job and all the info is presented to the seller, I say let’s go over the data again, and ask what  the market telling us. In either case, access to all current property information is essential and can be helpful to justify your asking price to a buyer or justify your offer to a seller. 

Factors in Determining Market Value for Sellers

What is the market value of your home given the current real estate market? Have you gotten an appraisal? Did you contact two or three real estate agents up front to get their Broker Price Opinion (BPO)? How many “similar” homes have sold in the past twelve months at your price point? How many have sold at your price point, and in your area? What is the median home price? What is the average home price?

Determining Market Value Selling And Buying Crested Butte HomeHow long will it take your home to sell? What are the average days on market (DOM) for homes that have sold, and DOM for those still for sale? How many competing listings are currently in the market that are similar? Are you prepared to sell your home given the current market? Or will you want to set a high price on your home to “test the market” for a while? These are all the things that will help determine the market value of your Crested Butte home.

Determining Market Value Selling and Buying Crested Butte Home Final Thoughts

Crested Butte Co Real Estate

If you would like to know more about determining market value of your Crested Butte home or how the Crested Butte Market is doing contact me directly.

I hope you see the level of detail and time and effort I put into this candid article Determining Market Value Selling and Buying Crested Butte Home.  I have become a Top Real Estate Agent in Crested Butte by helping my clients to make informed decisions.

This is representative of what you can expect from me as your agent.

If you’d like to use my knowledge and experience in Buying or Selling your Crested Butte home – call me.

Thanks,
Chris.

How can I help you with your Crested Butte Real Estate Needs?

Chris Kopf Author Real Estate AgentContact me to help you.  I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.

I have over 30 years of sales and marketing experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties.

If you are Buying your Crested Butte Home – click HERE to get a free copy of my Book The Complete Guide To BUYING Your Mountain Dream Home.

If you are Selling your Crested Butte Home – click HERE to get a free copy of my Book – The Complete Guide to SELLING Your Mountain Dream Home

To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.

The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.

Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Bighorn Realty
(970) 209-5405, or chriskopf@bighornrealty.com

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

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