Superior Colorado Market Report March 2017

Superior Colorado Market Report March 2017

The Spring selling market is underway. Currently there are 32 active listings in Superior, 14 of which are under contract. If you’re considering selling, have any other real estate needs or know someone who does, please give me a call at 720.373.9297. I can help determine the value of your home or help with any of your real estate questions.

Scroll down for detailed March market reports including sold listings, average days on market and current homes for sale in Superior.  

Market Activity in Superior in March 2016

Click here to see the homes for sale Superior, CO

Click here for a comparison of Superior Zillow Zestimates vs. Sold Prices as well as information on the accuracy of Zillow Zestimates.

If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call me at 720-373-9297 or reach me by email at barry@superiorrealestatenews.com.

June 2016 Superior Zillow Zestimates vs. Sold Prices

June 2016 Superior Zillow Zestimates vs. Sold Prices

Ever wonder how accurate those Zillow Zestimates really are? Below you will find real homes sold in Superior last month compared to their Zillow Zestimates. Scroll down to the bottom of the post for more information on the accuracy of Zillow Zestimates.

June 2016 Superior Zillow Zestimates vs. Sold Prices

Single Family Homes

Zillow Zestimates vs real home sold prices Superior CO

Condos and Townhomes

Zillow Zestimates vs real sold home prices Superior CO

disclaimer ires

Are Zestimates accurate? 


Zillow is the most popular online real estate information site, with over 70 million unique visitors per month. Zillow provides information on houses that are not on the market as well as active listings of properties for sale.

According to Zillow CEO Spencer Rascoff, Zillow Zestimates are “a good starting point” but nationwide Zestimates have a “median error rate” of about +/- 8%. On a $500,000 house, a seller is looking at a $40,000 disparity — which can potentially distort the perceived market value of a listing.

So what’s the takeaway?  When buying and selling, keep in mind that Zestimates are no more than starting points in pricing discussions with the real authorities on local real estate values — experienced agents and appraisers.

If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call Barry Remington at 720.373.9297 or reach me by email atbarry@superiorrealestatenews.com.

Source: LA Times article “Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices”

April 2016 Superior Zillow Zestimates vs. Sold Prices

April 2016 Superior Zillow Zestimates vs. Sold Prices

Ever wonder how accurate those Zillow Zestimates really are? Below you will find real homes sold in Superior last month compared to their Zillow Zestimates. Scroll down to the bottom of the post for more information on the accuracy of Zillow Zestimates.

April 2016 Superior Zillow Zestimates vs. Sold Prices

Single Family Homes

SupApr2016 SFH Zillow Zestimates

Condos and Townhomes

disclaimer ires

Are Zestimates accurate? 


Zillow is the most popular online real estate information site, with over 70 million unique visitors per month. Zillow provides information on houses that are not on the market as well as active listings of properties for sale.

According to Zillow CEO Spencer Rascoff, Zillow Zestimates are “a good starting point” but nationwide Zestimates have a “median error rate” of about +/- 8%. On a $500,000 house, a seller is looking at a $40,000 disparity — which can potentially distort the perceived market value of a listing.

So what’s the takeaway?  When buying and selling, keep in mind that Zestimates are no more than starting points in pricing discussions with the real authorities on local real estate values — experienced agents and appraisers.

If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call Barry Remington at 720.373.9297 or reach me by email atbarry@superiorrealestatenews.com.

Source: LA Times article “Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices”

Selling Your Home? Make Sure the Price Is Right!

Selling Your Home? Make Sure the Price Is Right!

Selling Your Home? Make Sure the Price Is Right! | Keeping Current Matters

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered their price. His article, Listing Price, Time on Market and Ultimate Selling Price,published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think,“Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.

Selling Your Home? Make Sure the Price Is Right! | Keeping Current Matters

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Look for an agent that will take the time to simply and effectively explain what is happening in the housing market and how it applies to your home. You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible position.

This article was originally posted on KeepingCurrentMatters.com

Your Guide to Boulder County’s Best Summer Camps

Your Guide to Boulder County’s Best Summer Camps

Boulder Valley School District’s last day of classes is this Thursday, May 26. Do you have summer plans for your kids? If not, check out the Daily Camera’s comprehensive Boulder County Summer Camp Guide. Choices include day camps and overnight camps, with options for all ages and interests including: academic camps, outdoor adventure, arts & music, special needs, sports & more!

 

Looking for something outside of Boulder County? Click here for the Denver Post’s Colorado summer camp search tool.