Recently, there have been many innovative ideas in the realty market, as sellers realize that an extra push is needed to sell some homes. Although the Denver real estate market outperformed all but four of twenty markets in the country, home prices still fell by 3%, from figures released on November's housing activity.
With the robust economy that Denver has, and with the low unemployment rates, many realtors have been suspecting that a boom may soon be on the way for the city. Is this 'realty optimism'?
It is true that there are more homes on the market in the Metro Area than at any other time and the mortgage interest rate is very low, so conditions are right.
A record number of foreclosures have been filed in Denver this year - even higher than after the oil industry bust of 1988. This large inventory of houses could bring the buyers to Denver, although Denver is attributed with a far lower number of foreclosure homes than many of the other American cities. However, what could stop a boom in Denver is the condition of other property markets around the country.
Unfortunately, other states are faring much worse, and this means that all over the nation it is more difficult to 'sell up' and move to Colorado. Areas such as Las Vegas and parts of California have been predicted by one company to have an 80% chance of a decline in their house prices within the next two years.
With less buyers coming into the housing market, sellers must work harder to be 'seen'. The first places where your home will have the opportunities to attract buyers are: on display in the realtor's window, on the Internet and driving past the realty board in the front yard.
Sellers often have to wait their turn for their house to be put in the display window, but when your real estate agent draws up the terms of the marketing plan, ask when your turn will be so that you can keep a check on the plan and remind your real estate agent.
According to statistics, the Internet is the place where eighty per cent of all prospective buyers will start their house hunting. They browse until something catches their eye. How can it be your house that catches their eye?
Photo upon photo is displayed on the Internet and yours will be one of thousands. Make sure that you choose a realtor with an 'easy to operate' web site. People will only go into the 'virtual tour' of your house if they like the main photo (i.e. the first and only one on general display), so this photo is very important.
Ask your realtor to come and take the photos when the sun is shining on the front of the house (if you face south). Include some foliage in the foreground if you have lovely trees in your garden. Ensure that the pathways and lawn edgings are super neat; straight lines show up in a photo.
These small signs will give the impression that your home is being cared for. Confirm with your realtor that he will be showing your home on the Internet, complete with the virtual tour. It is a 'must'.
Obviously the selling situation that you have the most influence over is the front yard. You can ensure that it is immaculate. Neat, trimmed lawn borders, short cut grass and absolutely no clutter is the first rule. All bikes, skateboards, piles of firewood, cardboard boxes, bags of birdseed and overflowing junk mail must be non-existent.
If you have exterior lighting, put it/them on early to give a welcoming look to the house. Interior lights turned on also light the house up and suggest warmth. If you have a lamp that is not used for reading, then a pink-toned bulb in it will give an even more cozy light from the window. In the wintertime it is inviting to suggest a cozy interior.
Go outside and stand on the sidewalk so that you can critically view your home. Do you see any areas to cause a frown? Is the garbage bin tucked out of sight? Are the leaves brushed off the pathway? If you hose it down, will the colors on the cobblestones show up better?
The last thing to consider is the smell of your home. Supposing someone knocks on your door? Even while you tell them to contact the agent they are getting a first impression of your home. Is their impression going to be wet dogs and your son's sweaty snow boots?
Invest ten dollars and buy three plug-in air fresheners. Put one as close as possible to the front door, one in the bathroom and one in the kitchen. Relax now, knowing that you have done as much as you can to be noticed!
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