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COLORADO SPRINGS, CO, Aug 31, 2010 - Naturally, like most homeowners, you have a strong emotional connection to your home and, understandably, feel it deserves top dollar when placed on the Colorado Springs real estate market. After all, no one knows your home better than you, including all the investments you've made in it over the years. But even though all sellers want to get the most money for their homes, especially in today's challenging economic times, decisions made regarding the listing price cannot be made in haste advises Joe Clement, Broker/Owner of RE/MAX Properties, Inc., serving Colorado Springs and the Pikes Peak region.

"Listing your home at a price that is too high can cause it to languish on the market," explains Clement. "This can result in the home selling at an even lower price than would have been realized had it been priced properly from the beginning."

To avoid this scenario and generate optimal profits from the sale of your home, Clement suggests taking into consideration all of the following factors in order to establish a fair, competitive and marketable sale price:

• Square footage - Total square footage is an important consideration when establishing a home's listing price, but this is usually just a starting point for buyers. Buyers will look at square footage to narrow their selections, but will make an actual purchase decision based on many other factors.

• Location within the community - Quiet cul-de sacs, golf or water frontage, lots that offer privacy, etc. are value-adds that can justify a higher sale price over other homes in a community ... or be leveraged as an advantage against competing listings.

• Views ... or lack thereof - Whether it is a downtown skyline, the mountains, golf course or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly.

• Upgrades and features - For a home to sell quickly at the desired price in the Pikes Peak region, it must be "finished" with as many structural and interior design upgrades as possible. "Any functional or beautification enhancements to a home are key considerations in establishing a home's true value and strategic sale price," says Clement.

• Community amenities - Guard-gated communities or those with amenities such as a clubhouse, swimming pool or fitness center are elements that raise a home's price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value-adds so that you can price your home as aggressively and competitively as possible.

• Comparable sales - Don't price your home based on price per square footage of other home sales in your community six or more months ago, as these don't offer a realistic portrayal of current market conditions. Clement advises sellers to focus on prices of active listings to hone a competitive pricing strategy.

• Professional appraisal - If you need to sell your home quickly, Clement suggests listing it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.

• Current mortgage conditions - Lenders now require higher down payments and higher credit scores, which can cash-strap buyers holding out for the best deal possible. Savvy sellers will understand the mortgage industry's impact on the buyer and will price accordingly.

"Anyone considering selling their home should work with a local (Colorado Springs, Monument, Woodland Park, etc.) professional real estate agent who can guide them through all of the above steps," says Clement. "A seasoned agent will be armed with current, local statistics and know how to sell your home at the best possible price."

On our website, www.HomesColorado.com, you will find a wide variety of highly-skilled, well-educated, professional RE/MAX broker associates.  Each broker associate brings a finely-tuned skill set to the Colorado Springs and Pikes Peak region real estate market.  Check them out, and you may just find the PERFECT listing agent for your home. 

Click Here to find an amazing RE/MAX Properties, Inc. Broker Associate near you!

Target Market Analysis - 15 Weeks At-A-Glance
Number of Listings vs Number of Showings

Click Here to download a printable version of the expanded Target Market Analysis for August 16-22, 2010

COLORADO SPRINGS, CO, Aug 24, 2010 - During the Great Depression of the 1930s, while most Americans struggled, there were some who also amassed vast fortunes. A wealth of opportunity also exists is today's real estate "recession," a time which offers buyers and investors in the Pikes Peak region an unprecedented chance to "move up," according to Joe Clement, Broker/Owner of RE/MAX Properties, Inc..

"Those who believe that real estate is a tide that moves all boats equally are just plain wrong," says Clement. "The fact is, we may very well be in the single greatest move-up real estate market in decades. Today's Colorado Springs market represents a rare opportunity for some to move up to their dream home at virtually unprecedented prices. If you have longed to move to another community, purchase a vacation home or create income through rental property, now might be your best chance to do so."

According to Clement, the following facts rarely appear in media coverage about the Colorado Springs real estate market and are, therefore, unknown to most consumers:

• Prices of higher-priced homes in the Pikes Peak region have (generally) declined more, as measured in dollars and/or percentage of price, than have prices of lower-priced homes.
• Colorado vacation property prices have also changed based upon Pikes Peak region economics.
• If the price of your home has moved down less than the price of your ideal home, this may be the time to make your move.

Clement advises consumers to answer the following questions before considering a move-up home purchase:

1. What price could my home bring if put on the market today?
2. What is the price of my ideal home in today's market?
3. What will the difference in monthly costs be should I decide to move up?
4. What will my net costs be after tax?
5. What is the potential for immediate lifestyle enhancement and for long-term financial gain if I move up?

"The answers to these questions are vital to making a more fully informed decision about the opportunities present in today's market," explains Clement. "A professional Colorado real estate agent, your attorney, financial planner and/or accountant can help guide you through this decision-making process."

For more information, please contact Joe Clement at Joe.Clement@WeSellMore.net or 719-540-6421

Understanding the Market Cycle and Making it Work for You!

The Marketing Cycle graph I've provided is a depiction of what happens to peoples attitudes in the changing cycle. You'll note that the high of the cycle is called 'Euphoria'.  We were in this stage in 2005 and 2006.  The real estate train was running and everyone wanted to jump on for fear of being left in the station.  This drove up prices until the time the public said that they could no longer afford to buy at these prices.  This started the market on a decline through 'Denial', 'Fear', 'Panic', all the way to what the model calls 'Depression'.  This becomes a "self-fulfilling prophecy".  We imagine the market will get worse and sure enough it gets worse.  This created times of lowering prices.  Many people stayed away from the market for fear of losing value.  No one wants to buy a home that could be worth less in time.

Today I believe we have turned the corner and our market is in the area of 'Hope', headed to 'Optimism'.  For proof I suggest you need only look at the comparison of the 2^nd Quarter of 2010 (April-May-June) and 2^nd Quarter of 2009.  The: Number of Sales, Average Price and Median Price are all UP for each month.  Each month this year improved over the preceding month; while the number of foreclosure went down for each of those months. The percentages were small but positive! This is the second quarter in a row with all positive numbers.

NOW is the most opportunistic time to buy and sell to improve your long range financial future.  Prices are still lower, interest rates are incredibly low, and the selection is great.  I believe you can buy now and enjoy the benefit of increasing values. 

Why now?  While you wait you will see the market climb to 'Optimism' and eventually to 'Excitement' and back again to 'Euphoria'.  As the market strengthens prices will increase, there will be more demand and we can only speculate what might happen to interest rates.  The people who will benefit the most are those that saw the opportunity to make their move early before everyone else does.  Remember; the wave not only represents people perception of the market but "PRICES".

Consider making your move NOW!  If you've every thought about investing in real estate NOW is the time!  NOW is the time to buy lower and get the opportunity to sell higher.

Blog Contribution by: Colorado Springs Real Estate Broker Associate Bruce Simon, RE/MAX Properties, Inc.

Target Market Analysis - 15 Weeks At-A-Glance
Number of Listings vs Number of Showings

Click Here to download a printable version of the expanded Target Market Analysis for August 9-15, 2010