Spring Into Action To Sell Your Crested Butte Home
The Winter Ski Season has come and gone but there were strong results for Q1 Real Estate in Crested Butte for 2013. Coupled with a positive national economic backdrop in the housing market, strong Oil & Gas markets, and record highs on Wall Street – many indicators point to a good opportunity to position your Crested Butte home for sale. As well the recently released Freddie Mac U.S. Economic and Housing Market Outlook showed this could be an ideal time to sell your home. Citing the combination of low mortgage rates, heightened consumer confidence and higher home prices, Freddie Mac even created a video (see below) detailing the March 2013 U.S. Economic and Housing Market Outlook.
Key Factors That Bode Well For Your Home Sale
- Anticipation of a 8-10% Increase in 2013 Home Sales Volume Nationwide.
- Anticipation of a 5-8% Increase in 2013 Home Sales Volume in Crested Butte and all indicators point to strong Summer
- Active Buyers – there has been an increased level of activity for Second Home Buyers looking in Crested Butte.
- Buyers know there are great values in Crested Butte – especially compared with some crowded and high priced markets, like Vail, Aspen, Telluride, and Breckenridge
- Home Affordability at Highest Level in Decades.
This also marks an unbelievable trend in the 30-year fixed mortgage rate, with it having remained below 4% for an entire year. Currently the 30 year fixed rate is 3.54% with .8 point and the 15 year fixed is 2.72 with a .7 point. The 5 year ARM remained steady at 2.61 % with .6 point and the 1 year ARM was down slightly to 2.63 with a .4 point.
According to Freddie Mac Vice President and Chief Economist, Frank Nothaft, “History shows us not all economic recoveries are created equal and consumer confidence mirrors this fact. With the spring homebuying season upon us, the recent highs in the stock market are a welcome signal of better times ahead. But it will be the gradually declining unemployment rate and steadily improving housing market that will deliver broad-based economic benefits for Americans and, in turn, support the overall recovery.”
Many clients ask me: “With average Days on Market in Crested Butte over 1 year – how can you sell my home faster?” The number one answer is to price your home to the Market. I provide detailed analysis of my client’s homes looking at Sold comps in the same subdivision, Sold comps for like quality, location, amenities and also look at the homes that will be competing with their home in the market at given price points. A recent Sale of a luxury single family home in Glacier Lily between Crested Butte and Mt. Crested Butte is a good example. This beautiful 3 bedroom, 4.5 bath home was priced to the market at $1,195,000. A strong marketing campaign launch with professional photography, advertising, internet placement, open houses and word of mouth to the top agents brought two offers within the first month. Interesting that these offers were within $25,000 of each other – further validating the list price methodology. This home closed for $1,135,000 in April 2013.
If you are considering selling your home in Crested Butte, and would like me to help you understand what the value of your home is, give me a call or send me an email.
Want some additional insight into the Crested Butte Real Estate market: Download the Full Crested Butte Real Estate Report for YTD Q1 2013, it is a full color 5 page pdf file with all the detailed data and charts and graphs, as well here is a link to the Full 2012 Year in Review Crested Butte Real Estate Market Report
Learn more at FreddieMac.com.
How can I help you? The Crested Butte Real Estate Market Report and the level of detail is representative of what you can expect from me as your Real Estate Agent. If you are interested in finding out what your existing property is worth, or considering me to represent you as a Buyer, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
Crested Butte offers a wide variety of properties including ski in/ski out single family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, and true luxury mountain homes on acreage. To see featured properties or search the MLS – visit chriskopf.com. Contact me at: (970) 209-5405, or chriskopf@bighornrealty.com
Thanks,
Chris Kopf
Previews® Property Specialist
Coldwell Banker Bighorn Realty
Author: Chris Kopf
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