Comparable Market Analysis for 3762 White Rose Loop Castle Rock CO 80108

Page 1


This week the median list price for Castle Rock, CO 80108 is $1,090,000 with the market action index hovering around 32. This is less than last month's market action index of 34 Inventory has increased to 146.

Marke t Act ion I n d e x

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Re al-Time Marke t Profile

Marke t Narrat ive

The market has been cooling over time and prices have recently flattened Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available) If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices

Marke t Segme n ts

Slight Seller's Advantage

Each segment below represents approximately 25% of the market ordered by price.

Me d ian List Price

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels. 7-Day Average

Segme n ts

In the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.

Price Pe r Square Foot

The value placed on homes continues to increase, despite the fact that prices in general have been basically flat recently. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

I n ve n tory

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

Marke t Act ion I n d e x

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Marke t Act ion Segme n ts

Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

Me d ian Days on Marke t (DO M)

The properties have been on the market for an average of 77 days. Half of the listings have come newly on the market in the past 63 or so days. Watch the 90-day DOM trend for signals of a changing market.

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

Owner

Owner

Mailing

Sale

Sale Price

$539,700

Price per SqFt - Finished $127 08

Owner Name

Owner Name 2

Sale Date 10/31/2017

Buyer

Corken Timothy Patrick

Corken

$539,700

Corken Timothy P & Vered

Buyer Corken Vered

Seller

Mortgage Date 03/17/2020 11/02/2017

Mortgage Amount

$501,000

$501,983

Mortgage Lender United Wholesale Mtg American Financing Corp

Borrower

Borrower

Mortgage

Corken Timothy P

Corken Vered

Corken Timothy P

Corken Vered

Map of Property Locations

3785 White Rose Loop, Castle Rock, CO 80108

1468 Black Pine Court, Castle Rock, CO 80104

899

Listing Id: 9805780

Status: Active 08/07/24

Price: $935,000

Subtype: SFR

Ttl SqFt: 4,035

Bd/Bth: 6 / 4 Show #: 800-746-9464

Circle, Castle Rock, CO 80108

Listing Id: 9731285

Status: Active 06/13/24

Price: $800,000

Subtype: SFR Ttl SqFt: 4,514

Bd/Bth: 5 / 5

Show #: 800-746-9464

1656 Mcmurdo Trail, Castle Rock, CO 80108

Listing Id: 3050064

Status: Pending 08/05/24

Price: $839,000

Subtype: SFR

Ttl SqFt: 6,197

Bd/Bth: 5 / 4

Show #: 888-808-0331

Listing Id: 5849350

Status: Active 09/04/24

Price: $800,000

Subtype: SFR Ttl SqFt: 4,380

Bd/Bth: 4 / 4

Show #: 800-746-9464

3527 Golden Spur Loop, Castle Rock, CO 80108

Listing Id: 6199647

Status: Active 04/19/24

Price: $799,000

Subtype: SFR Ttl SqFt: 4,946

Bd/Bth: 6 / 6

Show #: 800-746-9464

1125 N Bader Court, Castle Rock, CO 80104

Listing Id: 6597354

Status: Closed 06/06/24

Price: $950,000

Subtype: SFR Ttl SqFt: 4,132

Bd/Bth: 3 / 3

Show #: 303.573.7469

Mcmurdo

418 Gordon Drive, Castle Rock, CO 80104

Listing Id: 5155901

Status: Closed 07/25/24

Price: $875,000

Subtype: SFR

Ttl SqFt: 3,991

Bd/Bth: 4 / 4 Show #: 800-746-9464

3655 White Rose Loop, Castle Rock, CO 80108

Listing Id: 5923532

Status: Closed 05/15/24

Price: $805,000

Subtype: SFR

Ttl SqFt: 4,437

Bd/Bth: 6 / 5 Show #: 303-876-0007

5038 Coulee Trail, Castle Rock, CO 80108

Listing Id: 7529042

Status: Closed 05/15/24

Price: $775,000

Subtype: SFR Ttl SqFt: 3,788

Bd/Bth: 5 / 5 Show #: 800-746-9464

2737 Cache Creek Point, Castle Rock, CO 80108

Listing Id: 3275085

Status: Closed 03/29/24

Price: $730,000

Subtype: SFR Ttl SqFt: 4,292

Bd/Bth: 5 / 4

303-573-7469

1514 Wingfeather Lane, Castle Rock, CO 80108

Listing Id: 6770094

Status: Closed 07/09/24

Price: $825,000

Subtype: SFR

Ttl SqFt: 4,383

Bd/Bth: 5 / 6

Show #: 303-573-7469

1684 Augustine Drive, Castle Rock, CO 80108

Listing Id: 3233080

Status: Closed 07/09/24

Price: $799,900

Subtype: SFR Ttl SqFt: 3,891

Bd/Bth: 4 / 4

Show #: 800-746-9464

2349 Paint Pony Circle, Castle Rock, CO 80108

Listing Id: 6080148

Status: Closed 06/10/24

Price: $735,000

Subtype: SFR Ttl SqFt: 4,031

Bd/Bth: 4 / 4

Show #: 303-573-7469

Assoc Fee Incl: Recycling, Road Maintenance, Snow Removal, Trash Assoc Amenities: Park, Playground, Tennis Court(s), Trail(s)

Lot Size: 0.21 Acres / 9,148 SqFt

Waterfront Feat:

Lot Features: Greenbelt, Irrigated, Many Trees, Master Planned, Sprinklers In Front, Sprinklers In Rear Elementary School: Castle Rock / Douglas RE-1 Bldg/Complex Name: Middle/Junior Sch: Mesa / Douglas RE-1 High School: Douglas County / Douglas RE-1 Building & Water Information

Architectural Style: Traditional

Attached Property: No Common Walls:

Construction Materials: Cement Siding, Frame, Stone Roof: Composition Exterior Features: Water Included: Yes Water Source: Public Sewer: Public Sewer Public Remarks

Welcome to this perfect home in the prestigious Escavera neighborhood of Castle Rock, where luxury and serenity seamlessly blend. Nestled within this hidden gem of a community, this stunning property offers a mountain-home ambiance with modern conveniences.Upon entering, you’ll be greeted by custom craftsmanship, from elegant built-in shelves to beautifully designed flooring. Boasting 6 spacious b... Confidential Information

Private Remarks: Remove shoes or wear shoe covers for all showings. 2 hour notice before all showings.

Contract Earnest Check To: Guardian Title Possession: Negotiable Contract Min Earnest: $25,000

Listing Terms: Cash, Conventional, FHA, VA Loan Title Company: Guardian Title Ownership: Individual

Showing Service: ShowingTime

Showing Information

Showing Contact Phone: 800-746-9464 Show Email: No Showings Until: List Agent

List Agent: Debi Haning Phone: 303-409-1300

List Office: Coldwell Banker Realty 24 Mobile: 303-960-8252 Email: debihaning@gmail.com Not intended for public use All data deemed reliable but not guaranteed Generated on: © REcolorado 2024. 09/16/2024 4:35:04 PM

County: Douglas

Property Type: Residential

Property Subtype: Single Family Residence Levels: Two

Structure Type: House

Subdivision Name: Terrain Listing Contract Date: 09/04/2024

Sump

Access

Foundation: Concrete Perimeter Fireplace: 1/Great

Heating: Forced Air, Natural Gas

Cooling: Central Air HVAC Description:

Interior Features: Breakfast Nook, Ceiling Fan(s), Eat-in Kitchen, Five Piece Bath, High Ceilings, Kitchen Island, Open Floorplan, Pantry, Quartz Counters, Radon Mitigation System, Smart Lights, Smart Thermostat, Smart Window Coverings, Smoke Free, Utility Sink, Vaulted Ceiling(s), Walk-In Closet(s), Wired for Data

Appliances: Cooktop, Dishwasher, Disposal, Double Oven, Gas

Heater, Humidifier, Microwave, Range Hood, Refrigerator, Self Cleaning Oven, Sump Pump

Flooring: Carpet, Tile, Wood Furnished: Unfurnished

Exclusions: Sellers personal

Welcome

With 4 spacious bedrooms, 4 bathrooms, and a versatile loft, this home is designed for modern living. Step inside to find a dedicated home office, providing a quiet retreat away from household noise. The great room features a cozy fireplace with a mantle, is wired for sourround soun... Confidential Information

Private Remarks: Pictures to be loaded on Thursday and showings start Friday. Vacant and easy to show Contract Earnest Check To: Heritage Title Possession: Contract Min Earnest: $15,000

Listing Terms: Cash, Conventional, Jumbo, VA Loan Title Company: Heritage Title Ownership: Individual

Showing Service: ShowingTime

Showing Information

Showing Contact Phone: 800-746-9464 Show Email: No Showings Until:

Showing Considerations: Audio and/or Voice Recording Outside, Camera(s) Inside, Camera(s) Outside

Showing Instructions: Shoes off and lock up. List Agent

List Agent: Lisa Jones Phone: 720-244-6696

List Office: LIV Sotheby's International Realty Mobile: 720-244-6696 Email: ljonesworksforyou@msn.com

3785 White Rose Loop, Castle Rock, CO 80108

$800,000 - Active

Front of home showing the artificial turf
Front entryway
Main floor home office
Powder bathroom
Guromet kitchen with quartz, double ovens, refridge included
Large island
Gas cooktop
Open floorplan into the great room.
Large walk in pantry
Large nook
Large nook
Sitting high over other homes.

County: Douglas

Property Type: Residential

Property Subtype: Single Family Residence

Levels: Two

Structure Type: House

Subdivision Name: Castle Oaks

Listing Contract Date: 06/13/2024

Basement: Full, Sump Pump

Heating: Forced Air

Cooling: Central Air HVAC Description: Central Air Conditioning

Interior Features: Ceiling Fan(s), Eat-in Kitchen, Five Piece Bath, Jack & Jill Bath, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s), Wet Bar

Appliances: Bar Fridge, Dishwasher, Disposal, Double Oven, Microwave, Oven, Refrigerator, Self Cleaning Oven

Flooring: Carpet, Wood

Exclusions: Seller`s Personal property. hot tub negotiable. Bed & Bath Summary

Bedrooms Total: 5 Bathrooms Total: 5

Baths Full: 2 Baths Three Quarter: 2 Baths

Assoc Amenities: Clubhouse, Playground, Pool, Spa/Hot Tub

Lot Size: 0.13 Acres

Architectural Style: Contemporary

Attached

Direction Faces: Northeast

Community: Site & Location Information

Welcome to Your Dream Home in Castle Rock! Discover the perfect blend of elegance, comfort,

Showing Information

Property Type: Residential

Property Subtype: Single Family Residence

House

Crawl

Heating: Forced Air

Cooling: Central Air

Interior Features: Breakfast Nook, Ceiling Fan(s), Eat-in Kitchen, Entrance Foyer, Five Piece Bath, High Ceilings, Kitchen Island, Open Floorplan, Pantry, Primary Suite, Quartz Counters, Radon

Walk-In Closet(s)

Appliances: Cooktop, Dishwasher, Disposal, Double Oven, Dryer, Humidifier, Microwave, Refrigerator, Sump Pump, Washer

Flooring: Carpet, Tile, Vinyl

Exclusions: Sellers Personal Property, Turquoise

family room and tan fabric curtains in the bedroom with the crib on the second

All

(doorbell and cameras). All TVs and mounts. Patio furniture and fire table. Fireplace in basement.

Recycling, Trash

Assoc Amenities: Clubhouse, Park, Playground, Pool, Trail(s)

Site & Location Information

Lot Size: 0.17 Acres / 7,492 SqFt Waterfront Feat:

Lot Features: Irrigated, Landscaped,

Attached Property: No

Direction Faces: Northwest View:

Construction Materials: Frame, Other, Rock Roof: Composition

QUICK POSSESSION AVAILABLE! Welcome to a living, working, gathering oasis- such an amazing space for the price! Multiple updates throughout the kitchen, main floor bathrooms, laundry and butlery. The home is within walking distance of a highly rated elementary school as well as parks and the community pool. With 6 bedrooms and 6 bathrooms spaced over 3 levels, you will find something for everyone ... Confidential Information

Private Remarks: Agents: Only allow the next showing party access once you've verified receipt of access information! MLS Information deemed reliable; buyer and buyer's agent to verify all claims, measurements and HOA information. Please contact Listing Agent before submitting offer to discuss timing and Possession.

Contract Earnest Check To: 15,000.00 Possession: Negotiable

Contract Min Earnest: Listing Terms: Cash, Conventional, FHA, Jumbo, VA Loan Title Company: Land Title Ownership: Individual

Showing Information

Instructions:

List Agent: Lindsey Friedman

List Office: Colorado Home Realty

Email: lindsey@coloradohomerealty.com

3 car garage with tandem for additional space
Nothing left to do but move in!
Light and open
Gorgeous veining in quartz countertops
Butlery for dining staging and entertaining
Updated powder bathroom
Great room with soaring ceilings opens to formal dining area
This office with French doors could be a main level master suite!
Office ensuite bathroom
Living room with additional eating area
Laundry

County: Douglas List Price: $839,000

Property Type: Residential Original List Price: $870,000

Property Subtype: Single Family Residence Levels: Two

Basement: Yes

Structure Type: House Year Built: 2017

Subdivision Name: Terrain

Listing Contract Date: 04/12/2024

Purchase Contract Date: 08/05/2024

Contingency: None Known Days In MLS: 115 Association: Y Multiple: N Cov/Rest: Y

Year: 2023 Tax Legal Desc: LOT 18 BLOCK 1 CASTLE OAKS ESTATES 5 0.152 AM/L Website: Click Here for Additional Information Interior Area & SqFt

Basement: Unfinished Bsmnt Ceiling Ht: Foundation: Fireplace: 2/Family Room, Primary Bedroom

Heating: Forced Air

Cooling: Central Air

HVAC Description:

Appliances: Cooktop, Dishwasher, Double Oven, Microwave, Range, Refrigerator

Flooring: Carpet, Tile, Wood

Exclusions: washer/dryer, garage fridge, basement freezers

Bedrooms Total: 5

Maintenance

Bldg/Complex Name:

Attached Property: No

Construction Materials: Frame

Roof: Composition

Water Included: Yes

Waterfront Feat:

Elementary School: Sage Canyon / Douglas RE-1

Middle/Junior Sch: Mesa / Douglas RE-1

High School: Douglas County / Douglas RE-1

Building & Water Information

Common Walls:

Exterior Features: Private Yard

Water Source: Sewer: Public Sewer Public Remarks

An incredible opportunity to own the coveted Lennox floorplan for an incredible price in Terrain! You will LOVE the airy feel of the soaring ceilings, open views and convenient location to the clubhouse, pool, parks and winding trails! Featuring a true guest suite on the main level, this home has everything you're looking for. Step into the luxurious front room, beckoning you to linger, while the ... Confidential Information

Private Remarks: True pride of ownership with incredible opportunities for expansion or storage in the expansive unfinished basement. Close to the pool and right on the trails! Please note- the large picture window in the front of the home is on order to be replaced as it is discolored. Solar docs available. Reach out on questions- Seller installed an incredible $37,000 system- locks in those energy rates that Contract Earnest Check To: CHICAGO TITLE

Possession: Negotiable

Contract Min Earnest: $10,000

Listing Terms: Cash, Conventional, FHA, VA Loan Title Company: CHICAGO TITLE -Julie Belieu

Ownership: Individual

Showing Information

Showing Service: BrokerBay

Showing Contact Phone: 888-808-0331 Show Email: No Showings Until: Showing Instructions: All showings via Broker Bay

List Agent: Julianna Wassell

List Office: Keller Williams Action Realty LLC

Email: Realtor@JulieWassell.com

List Agent

Phone: 303-548-1738

Mobile: 303-548-1738

Not intended for public use. All data deemed reliable but not guaranteed.

Generated on: © REcolorado 2024. 09/16/2024 4:35:05 PM

Pending

Located on a quiet cul-de-sac with three car garage!
Open Views and Private Lot!
Welcome to the Lennox..one of DR Hortons largest and most coveted floorplans!

Subdivision

Foyer, Five Piece Bath, Granite Counters, High Ceilings Appliances: Dishwasher, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer

Flooring: Carpet, Tile, Vinyl Exclusions: Seller's items

Bldg/Complex Name:

Architectural Style: Contemporary Entry Level/Loc: Ground

Attached Property: No Common Walls:

Direction Faces: South View: Meadow, Mountain(s)

Construction Materials: Wood Siding Roof: Composition

Exterior Features: Private Yard, Spa/Hot Tub Water Included: Yes Water Source: Well Sewer: Septic Tank Public Remarks

This stunning property features 4.75 acres of natural beauty, including

Located just minutes from downtown Castle Rock, this home offers a serene and private setting

Agent: Heather Christensen

Office: The Agency - Denver

Email: heather.christensen@theagencyre.com

Concessions: No

Buyer Financing: Conventional

Location
Beautiful Views
Foyer
Formal Living Room with exceptional views
Formal Dining Room with floor to ceiling windows and views
Large kitchen with excellent views

Direction Faces: Southwest View: Mountain(s)

Construction Materials: Frame, Stucco Roof: Composition Exterior

Are you tired of cookie cutter houses, small lots, no views and no character? This home is a unique, custom build, offering breathtaking views of Pikes Peak from the front windows. Nestled on a quiet street, this residence boasts a serene and private backyard with exquisite landscaping, full of natural boulders and trees, providing a perfect retreat from the hustle and bustle. Inside, enjoy the... Confidential Information

Private Remarks: A post-occupancy would be attractive to these sellers through the end of September. For the right offer, the post-occupancy may not be necessary. This house was a no-pets, no-smoking house.

List Agent: Inger Hiller

List Office: 8z Real Estate

Email: inger.hiller@8z.com Buyer

Buyer Agent: Julie Bloch Burton

Buyer Office: Celladora Real Estate

Email: julieb.celladora@gmail.com

Concessions: No

Buyer Financing: Conventional

720-839-0387

720-839-0387

970-396-7435

970-396-7435

Custom Build Home - Original Owners
South-Facing Driveway Melts snow in winter
This is the view of Pike's Peak from the Deck
Half Bath on Main
Gorgeous Views from Dining Room
Views from kitchen window
Newer Knotty Adler Cabinets

Subdivision

Architectural Style: Traditional

Attached Property: No

Faces:

Construction Materials: Frame Roof: Composition

Features: Garden, Lighting Water Included: Yes Water Source: Sewer: Public Sewer Public Remarks

Don't miss this stunning Terrain 2-story home with a professionally decorated

includes 5-bedrooms (+1 nonconforming), 6 bathrooms, plus a loft and study. Upon entry, you'll be captivated by the weathered

flooring and designer colors in the study and formal dining room to your right. The great room, featuring a gas fireplace, flows seamlessly int...

Private Remarks: One of a kind! Floor plans in supplements. Basement walls and ceilings were built with extra sound dampening insulation. Don't miss the Matterport and drone tour video links. Seller needs a rent back to find replacement property, but has identified one. Front lawn died over the winter, Sellers will replace.

Agent: Diane Kreider

Office: RE/MAX of Cherry Creek

Email: DIKREIDER@GMAIL.COM

List Agent: Kristine Holvick

Co List Office: RE/MAX of Cherry Creek

Email: KRISTINEHOLVICK@REMAX.NET

Buyer Agent: Regina Roth

Buyer Office: Your Castle Real Estate Inc

Email: gina@ginarothhomes.com

Concessions: No

Financing: VA

1514 Wingfeather Lane, Castle Rock, CO 80108 $825,000 - Closed

Beautiful front yard
Great location backing to open corridor
Gorgeous kitchen with slab granite
Breakfast nook with lots of room
Great room with gas fireplace Open concept
Great eat-in kitchen with pantry
True vented gas cooktop
Large pantry
Formal, dedicated dining room

Architectural Style: Contemporary

Attached Property: No

Construction Materials: Cement Siding, Stone Roof: Composition

Welcome to your dream home at 3655 White Rose Loop!

breathtaking mountain views that will leave you in awe every single day. The

chef 's delight, featuring sleek countertops, stainless steel appliances, and ample cabinet space for all your culinary needs. What sets this kitchen apart is its ... Confidential Information

Private Remarks: Please schedule through ShowingTime. Please remove shoes in inclement weather. Listing Broker is a CTM User. Buyer/Buyer's Agent is responsible for verifying all information. Please call or text Jordan Wagner with any questions: 720-445-2402. *A 30 day PCOA will most likely be needed.

List Agent: Jordan Wagner

List Office: Real Broker LLC

Email: Jordan@wagners.ws

Co List Agent: Steven Pilkington

Co List Office: Real Broker LLC

Email: steven@pathhometeam.com

Buyer Agent: Mauri Tamborra

Buyer Office: RE/MAX Leaders

Email: mauri@realtor.com

Co Buyer Agent: Laura Cantalamessa

Co Buyer Office: RE/MAX Leaders

Email: lc@realtor.com

Buyer Financing: Conventional

720-445-2402

Collective Mortgage at 720.545.7440 for more information. As you walk in, enjoy

Private Remarks: Garage Refrigerator and Freezer is included. Shelving in storage area is

Beautiful Ranch Home
Gourmet Chef 's kitchen
Open Floor Plan

gas fireplace, and sunny picture windows greet you into your new expansive living room. The kitchen is a chef 's dream with stainless steel appliances, gas range, island, and walk in pantry. The dining room is the perfect space for holida... Confidential Information

Private Remarks: Please submit lender letter or proof of funds with all offers. Sellers would appreciate 3 days post closing to be able to finish moving into their new home and get this home cleaned for the new owners. Text is the best way to reach listing agent!

Showing Considerations: Camera(s) Inside, Camera(s) Outside List Agent

List Agent: Jessica Lentz

List Office: eXp Realty, LLC

Email: jessica@sellingdreamsteam.com

Buyer Agent: Elizabeth Hafler

Buyer Office: Your Castle Real Estate Inc

Email: liz.hafler@yourcastle.com

Concessions: No

Buyer Financing: Conventional

Agent

720-838-6157

720-838-6157

Lot

Cul-De-Sac, Irrigated, Open Space, Sprinklers In Front, Sprinklers In Rear Elementary School: Sage Canyon / Douglas RE-1 Bldg/Complex Name: Middle/Junior Sch: Mesa / Douglas RE-1 High School: Douglas

Architectural Style: Contemporary Attached Property: No

Nestled in a prime cul-de-sac, this stunning home has been tastefully designed with many wonderful eye catching details. From the ambiance inside to your private outdoor space, you will want to call this home your own! Gas fireplace, French doors, open plan living, shutters throughout and an abundance of natural light are just a few special features you are sure to appreciate. Seamless connectivit... Confidential Information

Private Remarks: All offers due by 9am on Sunday, 3/17 with an Acceptance Deadline of 12pm on Sunday, 3/17. Listing Agent uses CTMeContracts. Additional inclusions are: Basement Dishwasher, Basement Mini Fridge, Basement Microwave, Basement Icemaker and 4 TV mounts. All

is deemed reliable. Buyer's Agent and Buyer to verify

List Agent: Kathy Nelson

List Office: Compass - Denver

Email: TheNelsonTeam@gmail.com

Buyer Agent: Diana Fabia

Buyer Office: One Nest Realty

Email: diana@dianafabia.com

Concessions: Buyer Closing Costs/Seller Points Paid, $300

Buyer Financing: Conventional

INTELLIGENT PRICING & TIMING

Pricing a home for sale is as much art as science, but there are a few truisms that never change.

☐ Fair market value attracts buyers, overpricing never does.

☐ The frst two weeks of marketing are crucial.

☐ The market never lies, but it can change its mind.

ASKING PRICE

Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area.

Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake.

Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.

Your best chance of selling your home is in the frst two weeks of marketing. Your home is fresh and exciting to buyers and to their agents.

With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your home will get the greatest furry of attention and interest in the frst two weeks.

If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price.

Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage.

The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value.

Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.

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