Selling your home can be an intensive process that requires you to make clear decisions and take the right steps. This is especially important in an upscale real estate market like Breckenridge. Therefore, some careful thinking and preparation beforehand can be indispensable in this process. Here are seven significant factors to consider when getting ready to list your Breckenridge real estate.
1. Market conditions
You don’t have to be an expert on the real estate market to consider how overall market conditions may influence the sale of your home. It is important to take into account just a few basic factors. First, you could look at how long homes are staying on the market currently. Second, you could look at whether overall prices are trending up or down. A high-end luxury market such as Breckenridge is not necessarily going to move in lockstep with the macro economy, but there will be some fluctuation over time. As this is a small market, there are relatively few Breckenridge homes for sale, so macroeconomic factors shouldn’t make or break your decision. However, being aware of current conditions can help you to better understand how the process is going.
2. Interest rates
When someone makes a purchase with financing, as is often the case when a home is purchased, interest is paid on top of the principal. Mortgage rates fluctuate up and down over time with other market conditions, and they have an important effect on the sale of your home. If a given buyer has a fixed amount of funds available to purchase a home, more interest on the mortgage means that the buyer can afford less principal (i.e., the amount that you will receive for your home). Conversely, lower interest on the mortgage means that the buyer can afford more principal. The lower interest rates are, the easier it will be for any given buyer to afford your home at any given price, and the more attracted buyers will be. The higher interest rates are, the more buyers will be priced out of the market.
It is usually not possible to predict where interest rates will wind up in the future, so don’t overthink this one. It is just something to take into consideration.
3. Recent sales and current listings in the area
Consider the prices similar properties near your home are currently listed for or have recently sold for. This can give you an idea of what you can expect from your Breckenridge real estate. You can also look online to see how long houses are staying on the market as well as the current average amount of time homes spend on the market. As with the previous two points, this information is worth taking into account, but it shouldn’t make or break your home sale, especially if you have the help of a qualified real estate agent who knows the area.
4. Timing of the sale
Naturally, you will want to get the best possible price for your home. However, you do not want to wait forever to complete the sale. Therefore, when choosing a list price, you will want to consider how quickly you would like the home to sell. You might also take the season into account. Breckenridge isn’t like any other real estate market. Most homes sell either right before the ski resort opens in September and October or directly after the ski resort closes for the season in May and June.
If you currently live in your Breckenridge real estate, then you will also want to think about when you plan on moving. You will want to have your move planned and allow time for packing and moving. Work out the details, like whether you would like to hire a moving company. Here’s a moving company that serves the Breckenridge area, in case you need one. Ideally, you would at least have your next residence lined up before listing your Breckenridge home. If there are tenants occupying the property, then this will, of course, be a factor.
5. Evaluating the condition of your home
Sometimes the sale of a home can be delayed or even fall through due to the need for repairs to the home. Consider making any major repairs prior to listing the home. Minor repairs, such as fixing a cabinet door or nailing down a loose piece of molding, are also worth making, as these make a noticeable difference when staging the home. The better the condition of your home is, both cosmetically and behind the scenes, the more quickly and smoothly your sale will go.
6. Preparing the home to be listed
Before listing your home, it is a good idea to have professional photos taken. There are lots of nice Breckenridge homes for sale at any given time, so you will want yours to stand out. You may also want to hire a professional cleaning service to detail your home in preparation for staging and taking pictures. Here’s one that’s local to Breckenridge. Cleaning is another aspect of the staging process where doing it yourself is also fine in most cases. In addition to cleaning the house, be sure to declutter. Listing photos will look best when the house is furnished but not cluttered. Lastly, make sure the house is well-lit for the photos. Take advantage of windows to let in some natural light.
7. Finding the right real estate agent
While all of the above factors are important to the listing and sale of your Breckenridge real estate, it is always best to have professional help. You don’t need to know everything about the market or about home sales in order to list your home with ease. Breckenridge homes for sale are sure to attract the right buyer when you have someone who can advise you about the considerations listed here and answer any other questions you may have. When you are thinking about listing your Breckenridge real estate, contact Randy Jeffrey to get the process started.