
The monthly home selling statistics have been released by Metrolist and in Broomfield, for the month of September, average days on the market were a tough 140 days, average sales price was $312,505, 73 houses were under contract and 77 sold.
Contrast these numbers to September 2006 where average days on the market was 88 days, average sales price was $324,995, 70 houses were under contract, and 74 sold.
So what does this mean to you the Broomfield home buyer/seller?
Houses are a little cheaper on average so it is a great time to buy. (It’s like a sale!) It’s an even better time to move up to a bigger or nicer home if that’s something you’ve had your eye on. New home developments in Broomfield are offering some very sweet deals right now and they’re definitely worth checking out. A Realtor (yes, me if you’d like!) can help you negotiate price reductions, upgrades and bonuses like large screen TV’s, landscaping, and appliances.
As far as being a seller it all depends on your situation. If you owe more than your home is worth – face facts – it’s not going to sell for more than market value. It’s not a pretty fact but it’s a fact. You may have to wait until your home’s value increases or you may have to bring money of your own to the table to get the house sold. This doesn’t mean you’re “paying” someone to buy your home, it simply means that you have to pay off the balance on your mortgage, and unfortunately at this point in time you are unable to sell your house for the amount you’d like.
If you have plenty of equity in your home however, and are willing to negotiate on price, and your home is in good shape, you should still be able to sell for a very decent price. As I’ve mentioned numerous times, if your home’s market value is not what you were hoping for, you could consider renting it out instead.
If you’d like to know what homes are selling for in your neighborhood, email or call me, and I can send you a report. No cost. No obligation. And I won’t even call you and bug you afterwards, if you have additional questions, you can call me.
If you would like to know what kind of mortgage you might qualify for (including FHA!) try Eric Grandcourt at 303.229.1292 – and he won’t bug you either – seriously.
Beth Skinner is a real estate professional who actually returns phone calls and emails! Click here to search the MLS for your dream home.
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