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Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential | MyKCM

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.

According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.comnotes:

“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”

When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

How to Price Your Home

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.

Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.Why Pricing Your House Right Is Essential | MyKCM

A Trusted Real Estate Professional Will Help

It’s important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.

The key is making sure your house is priced to sell immediately. That way, it will be seen by the most buyers. More than one of them may be interested, and your house will be more likely to sell at a competitive price.

Bottom Line

If you’re thinking about listing your house this fall, let’s discuss how to price it right so you can maximize your exposure and your return.

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Why the Tri-Lakes Housing Market Continues to Soar

tri lakes housing market

Whether you are looking to buy or sell a home, timing your local market is an essential part of your real estate investment. The Tri-Lakes housing market appears to be poised for steady price growth in 2020 and beyond, thanks to a number of key factors that make it an attractive place to live, work and raise a family.

Sustainable, Upward Trends

The Tri-Lakes area is a term used to describe the area that includes Palmer Lake, Monument and Woodmoor. Located about 20 minutes north of Colorado Springs, much of this area is in Palmer Lake and Monument, with portions of the Black Forest included around Highway 83. Bridging the gap between Denver and Colorado Springs, this area includes many luxury homes for sale on lovely acreage as well as modern homes on small lots.

The Tri-Lakes region has seen unprecedented growth as robust commercial development along I-25 has sparked homebuilding aimed at meeting the increasing demand of a growing population. For more than a decade, Monument has spearheaded the region’s development with its ever-growing restaurant and retail options, as well as its convenient proximity within minutes of Colorado Springs. 

housing market in tri-lakesThe Colorado Springs real estate market is sometimes overlooked in favor of Denver. However, Colorado Springs has a great number of things in its favor for both residents and real estate investors. Situated on the eastern side of the Rocky Mountains, Colorado Springs plays host to nearly half a million people. The city’s metropolitan area is home to around 700,000 people and sits amid a broad range of premier employment opportunities at renowned tech companies and the region’s many prominent military installations, from Peterson Air Force Base and Fort Carson Army Base to Schriever Air Force Base and the Air Force Academy.

As the Colorado Springs area enjoys continuous, rapid growth, the Tri-Lakes housing market has continued to appreciate in value faster than most US markets. Conditions in the Colorado Springs and the Tri-Lakes real estate markets show no signs of slowing down and appear to be in a sustainable, upward direction. Inventory remains relatively low and home prices are increasing at a steady rate. The local economy is very strong and mortgage rates remain low, creating attractive opportunities for both sellers and buyers.

As a whole, Colorado Springs’s real estate has remained red hot, according to Zillow, with property values enjoying 7% collective growth in the past year. The Tri-Lakes area has followed suit, as buyers seek a quiet, scenic, peaceful lifestyle within moments of museums, galleries, professional sports and major employment opportunities afforded by nearby metropolitan areas. 

An Attractive Place to Live

The Tri-Lakes market remains robust mainly because of a strong economy, limited inventory and buyers’ desire to live the sought-after Colorado lifestyle. The state continues to rank as one of the top places to live, and the Tri-Lakes area provides an ideal blend of all the things that make Colorado so desirable. 

The area provides a gorgeous, natural landscape for biking, hiking and outdoor recreation. The mountain views are stunning, and the area sits within moments of major metropolitan attractions, giving buyers the ability to enjoy the best of both worlds without having to make major sacrifices. 

Tri-Lakes real estate continues to appreciate in value as buyers flock to the area in hopes of securing the home of their dreams, situated amid rolling hills and beautiful wooded lots. Whether its new construction homes, resale homes, raw land or luxury homes, real estate demand continues to rise at an impressive rate compared to other markets in the state.

If you’re thinking of selling or buying a home in the Tri-Lakes area, contact The Wheaton Team. Over the past decade, we’ve developed a well-earned reputation for specializing in residential real estate in Palmer Lake, Monument, Woodmoor, Colorado Springs and all of El Paso County.

Visit our website to browse our listings of current homes for sale in the Tri-Lakes area or contact us directly at 719-204-8021. Our seasoned team of attentive real estate professionals will guide you through the complex home buying/selling process.