Earlier this spring I predicted that we would break the one million dollar price point within 18 months. At this rate, we may hit that mark by the end of the year. By the time this article is published, I expect that a Willow Creek home listed for sale will close for $939,000, and a million-dollar sale is just around the corner.
Home prices in Willow Creek have been skyrocketing, as buyers from out of state continue to move into the state. New headquarters being built nearby are attracting executives in search of the open spaces of Colorado, and we’ve tapped into that market.
For the last several years, my company Redesigned Realty has been actively marketing to out-of-state buyers who are willing to pay top dollar for homes. In fact, the last 3 buyers I represented were all from out of state. 2 from Southern California, and one from North Carolina. These buyers are looking for good schools and a community that fits their lifestyle, and are amazed how much home they can get for their dollar in Colorado.
If you are curious about what your home is worth, give me a call.
Brent Hilvitz is Broker Owner of Redesigned Realty with 13 years of experience selling homes in Willow Creek.
Call Today to Discover What Your Home is Worth
Sell Your Home For More Before Foreclosures Surge Higher?
The foreclosure eviction moratorium was extended another month last week to the end of July. Here are some facts about the number of loans in forbearance—
The media hype, is just that, Hype! Doom and gloom sells papers, but the reality is that most homeowners who are in forbearance have plenty of equity to sell and walk away with money in their pockets.
A Cold Front Hits the Denver Real Estate Market
The late summer slowdown is here, but it won’t last. In the past two weeks, I have helped clients get homes under contract without a bidding war! It seems that only a few weeks ago, every home we looked at had multiple offers and was selling for 10-20% over the list price. In two out of the three contracts, the buyer ended up getting the home for less than asking, something I haven’t seen for over a year!
Right now, even a great property at an affordable price point might see 20 to 30 showings and 2 or 3 offers, versus 100 showings and 15+ offers that we saw in April.
Why has the market cooled off? Honestly, it does so every year beginning around Father’s Day. Second, there is HUGE PENT-UP DEMAND FOR VACATIONS as many people didn’t take a vacation last year. And when you are on vacation you are not looking at homes typically. Third, Wells Fargo senior economist Mark Vitner added that more employers are starting to call employees back to the office in other states. Thus, demand for housing in Colorado may drop especially in the mountain resort towns.
So, what should we do? Take advantage of this cold front and get off the fence. If you have been waiting for the right time to buy, NOW IS THE TIME to aggressively shop for a home and get under contract.
Third, with your sellers make sure they price their homes competitively. Every summer I see this happen—a seller in June or July knows a neighbor or friend or co-worker who listed their home for sale in April for $499k and it sold for $575k and this new seller wants to list their home for $575k in hopes of getting even more. The best way to get the most money is to list your home just below the market and create demand and scarcity. Here is a link to the Denver Post story from June 27th--