Selling Your Crested Butte Home – What’s Next? The more specific your answer to this question, the better. This answer will be the reason you will focus your attention and will be the motivation to accomplish the mission of getting your Crested Butte home sold. If you have not spent much time considering what is around the next bend in your life journey, then this can be an important question for you to ponder and discuss with your spouse. It can also be exciting to think of all the options available to you. If you have enjoyed Crested Butte mountain home for ten years and now long for a beach home, then every day your CB home is not sold means that you are delaying your pursuit and enjoyment of waking up and walking along the beach. Conversely, if you have no plans for the money other than to add it to your retirement nest egg, then you have a different focus and time horizon.
You are Downsizing
You may consider downsizing from your current home if you still want to stay in the Crested Butte area but you find you don’t need such a big home any longer. You could consider a condo, townhome or smaller single-family home. Some couples that have loved their years close to the ski area are finding that a change of venue is just what the doctor ordered. I have a client who decided they still loved the summers but not the winters, so they sold their home Mt. Crested Butte near the slopes and built a home on the golf course in Skyland in Crested Butte.
You Don’t Really Need to Sell
What kind of a seller are you? 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”? If you don’t really need to sell, you won’t be motivated to sell, and so it is highly likely you won’t sell until you want to sell and get realistic about the asking and selling price of your mountain home. Many times I hear a client say: “If I get the right price I will sell,” which usually translates into: “If there is a buyer out there who wants to pay above market for my Crested Butte house, then I will sell.” It may be years before the market rises to meet your asking price, or before one of those buyers shows up to buy your home. You may need to wait for the Crested Butte CO Real Estate market to catch up with your hopes and expectations.
As previously mentioned, there may be any number of personal or financial scenarios that put you in a position where you need to sell. Usually this is coupled with a need to sell quickly. If this is your scenario, when interviewing real estate agents, be sure to ask for a detailed, realistic market analysis showing their opinion of the sales price of your home and the number of days on market (DOM) they expect it will take to sell at various price points.
Normally, every market has a differential between the asking price and the sales price. You should also strongly consider putting the asking price close to or at the expected sales price to encourage activity and offers quickly. If you have a loan on the property and you can no longer afford the monthly mortgage payments, you may be facing foreclosure. If the loan amount is higher than the net proceeds from the sale, and you don’t have ample funds to make up the difference at closing, then you are “under water” and in a short-sale situation. The reality is your property will not sell quickly as a short sale, because the bank will need to be involved in the process. The bank will have the final approval of the sales price and terms (short sale approval). As well, this will be dependent on their negotiating with you to recover any losses they will incur. You need to be sure your real estate agent knows your situation, and that you select a real estate agent who is familiar with short sales. You should definitely contact a local attorney who has experience in real estate foreclosures and short sales. It would be an added benefit if you hired an attorney who has specifically negotiated with the bank that your loan is with.
How Can I Help You?
See all the big picture and all the details of the Crested Butte Real Estate Market in my monthlyCrested Butte Co Real Estate market reports – the level of detail is representative of what you can expect from me as yourCrested Butte Real Estate Agent.
What is Your Property Worth today? If you are considering Selling your Crested Butte home and interested in finding out what your existing property is worth, contact me. I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
Previews® Property Specialist
Coldwell Banker Bighorn Realty
#1 Crested Butte Real Estate Agent
in 2014 based on Total Volume