This question of whether or not to drop your listing price comes up often. Of course, everyone wants to get the best price possible for their home. We also know that if a house is priced too high, it signals to the market that a seller is not ready to sell and your house may be ignored by some potential buyers. So it’s important to know how to set the price…and know when to drop the listing price.

Pricing your home requires a specific formula, but a key factor is your competition – other properties listed nearby. For example, let’s say you are selling a 10-year-old post and beam home with 5 bedrooms and 5-1/2 baths. We would look at other similar homes that are currently on the market. You would assume that a potential buyer would see all other post and beam homes in that price range. You must think like a buyer. Buyers are always trying to get the most for their budget. Which one would you buy?

Secondly, we would also look at similar homes that have sold in the past year. This gives us an idea of the average length of time homes in this price range are on the market, as well as an average cost per square foot.

So now that you’ve set your listing price, how do you know when its time to drop the listing price?

Dropping your price on a house is a decision that clearly affects your net proceeds. When we take a listing we always tell our sellers to leave some room for negotiation, and plan on a couple of price reductions if needed. So always have that bottom line in your mind when you are pricing. Many times the sellers here in the mountains will just wait until the market reaches their asking price. Our resort real estate market in Breckenridge is not the same as a primary residence market, where you have to move by a certain date for a job change or children transferring schools etc.

You should also have an idea of how quickly you want to sell. Are you in a hurry to sell, or are you ok with carrying it a while longer? Can you continue paying the mortgage or taxes and any other ongoing obligations? These things should be into consideration when dropping the price also.

Keep in mind that when negotiating on a house, if you have reduced your listing price, the buyer will not see that as a negotiating concession that benefits them. A potential buyer is making an offer on the current price only (but their agent will likely share the listing history with them).

Signs That It’s Time To Drop Your Listing Price

One of the biggest indicators that a listing price is too high is feedback from other Realtors. If you are getting feedback after every showing that your home is priced too high, then we know that it is true. Of course, you will always get a few people saying this but if we are consistently getting this feedback, it’s important to pay attention to it.

Know that dropping your listing price is not uncommon. It doesn’t mean your home has a stigma or something is wrong and that is why it isn’t selling. While this may be the case in many areas, we are a seasonal resort market. We have a constant flow of buyers different times of the year and from different parts of the country, so it isn’t the same as when there is a fixed group of local buyers looking at a particular neighborhood and waiting for something to go on the market.

Another time you should think about dropping your listing price is if the homes around you or in the same basic price range are selling and yours is not.

The bottom line is: if dropping your price gets you to the next place you want to be, then it is the right thing. If you can hold on longer then at some point the market will rise (hopefully) to meet it.

Roger and Teresa have 22 years of experience selling properties in Summit County and have learned the ins and outs of pricing. They can walk with you through the process of choosing a listing price. Let this expert real estate team sell your home in Summit County and get you the best price possible.

Preparing your home for sale can be a daunting task, especially if you’ve lived in the house for a long time or need to sell your home quickly. Before you put your home on the market, consider these five tips to get your house – and yourself – ready for the big move.

1. Clean All the Things

A sparkling home is welcoming and attractive to buyers, and also says that your house has been well taken care of over time. Deep cleaning the kitchen, bathrooms and carpets; polishing and conditioning woodwork and cabinetry; and clearing out cabinets, closets and the garage will pay off when it’s time to sell your home. Don’t shy away from hiring professionals to do the heavy lifting here. Real estate agents like Roger and Teresa Moen can recommend the best local services and contractors to help!

2. Lighten & Brighten

A fresh coat of paint on the walls, or ceilings, can make a big difference, but are not your only options to lighten and brighten up a space. Cleaning all the windows– inside and out – and light fixtures can make your home shine. Removing heavy window treatments can add light and make rooms feel bigger. New energy-efficient light bulbs may make your home look brighter and be attractive to energy conscious buyers.

3. Set the Stage

Take a step back and consider how the available space in your home can be best presented to potential buyers. Can a corner you currently use to store winter gear be repurposed with a desk and chair to suggest a home office? Can packing up the playroom and setting up a bed and nightstands hit the mark with people looking for an extra bedroom? While personal items in your house like family photos and knick knacks help make it your home, they may also detract from how potential buyers can visualize themselves in the house. If necessary, move some of your belongings into a storage unit.

4. Virtual Curb Appeal

Before potential buyers even pull up to your home, they’ll likely check out the property online. Great photos and videos can make a big difference in attracting the right buyers. Don’t forget traditional opportunities for making a good first impression though – trim shrubs and bushes in the front yard and consider painting or replacing your front door for maximum curb appeal.

5. Let It Go

Take advantage of your upcoming move to discard items that you don’t want or need anymore. For pro tips on tidying up and letting go of things that don’t bring you joy, check out organizational guru Marie Kondo’s books and new Netflix series.

Before you sell your home in Breckenridge, ask experienced real estate agents like Roger and Teresa Moen for advice on what you can do to increase the value of your home and make the selling process as easy as possible. For additional tips and ideas from ReMax, check out this list of 10 Things To Do Before You Sell Your Home.

Decorating your house can be a daunting task. And when you factor in potential buyers, the task of creating a look that is timeless, practical and appealing becomes even more important. If you are renovating or redecorating and considering selling your home in Breckenridge at some point in the future, it’s important to consider what design trends will not be appealing for new buyers. Here’s a few design trends that we think should be avoided.

The All White Kitchen

The “all white kitchen” trend has been popular for a while. It looks fantastic when it is new, as it is pristine and sparkling. Nonetheless, home buyers are realizing that an all white kitchen in impractical and impossible to keep clean. The “all white” is very unforgiving, even those facetious about keeping a clean kitchen.

Secondly, while this trend is popular in the city, a white kitchen has never done well in the mountains. Mountain home buyers tend to prefer more warmth in their home furnishings.

Chevron, Patterned Walls and Wallpaper

You’ve seen it. The chevron pattern has been all the rage as of late. The repeating pattern is visually soothing yet interesting. Nonetheless, you’ll want to avoid distinct patterns such as this, as they tend to blow in and blow out quick. A bold pattern such as chevron can be a quick way to date a house. (Think avocado green appliances.) When you decide to sell your house, this pattern may be out of style, instantly stamping a date on your renovation.

Along the same lines, we suggest avoiding bold paint colors, patterns or wallpaper. Bold design decisions are very personal, and in turn, divisive. Many potential home buyers struggle to see past their own style preferences and may be turned off. More neutral colors, and timeless patterns are a wiser choice.

Carpet

There’s no debate: carpet is cheap, practical and easy to replace. It’s a good choice in rental homes, as it wears better and is cheaper to replace if damaged. Unfortunately, it is also perceived as trapping dirt and germs by new home buyers. Hardwood floors, on the contrary, are perceived as cleaner, new and fresh.

Repurposed Space

Converted garages, home offices, pet rooms are all common ways to make a home your own. Unfortunately, a potential buyer may not have the same needs as you and repurposed space can mean more work for a potential buyer. Use rooms as they were intended, whether a bedroom or a garage and allow buyers to modify to suit their own needs. Buyers are much more willing to repurpose a space themselves, instead of converting a space back to its intended purpose.

If selling your home is in the near future, we also suggest starting the process of engaging a realtor in Breckenridge to advise you. With over 20 years experience as realtors in Summit County, the Moen Team can help you make the necessary decisions to get the best price for your house. Give us a call today to discuss selling your home.

When you’re buying a luxury home, you’re looking for perfection and that extra something special. What amenities should you expect when purchasing luxury homes in Breckenridge? If you’re thinking about selling a luxury home, what amenities should you consider adding to your property to maximize the sale price?

With 20 years experience in Breckenridge real estate market, we’ve learned a few things about luxury homes in Breck. Here are a few amenities that we know luxury buyers are looking for.

Location, Location, Location

In a beautiful mountain town like Breckenridge, the location and views are treasured commodities in themselves. What speaks to you? Do you picture yourself in a mountain-top retreat with snow-covered trees on all sides, a secluded valley home surrounded by wildflowers or perhaps a rustic ranch property with alpine prairie views? In Breckenridge and Summit County, you should expect to find national forest, lake-front properties or ski-in-ski-out access on the amenity list for luxury homes.

Architecture + Quality = Perfection

Expect one-of-a-kind design and quality craftsmanship for your Breckenridge luxury home. In Breckenridge, luxury homes often reflect the area’s natural beauty, but that doesn’t mean you have to embrace a rustic design. Top architects in the area can incorporate steel beams, premium flooring and custom woodwork with a modern flair.
Secondly, luxury homes use the natural beauty of the landscape to their advantage with large windows and spacious outdoor living.

Indoor/Outdoor Mountain Living

Stunning indoor and outdoor entertaining space is a must in a luxury mountain home. Go beyond a basic backyard grill with an outdoor kitchen with high-end appliances, a fire pit designed by local artists or an all-season water feature. Native plants and extra seating will round out your luxury yard.

Pamper Yourself – And Your Guests

What’s a luxury home or vacation retreat without a spectacular space to unwind and restore after enjoying everything the Breckenridge area has to offer? Custom baths in the master – and guest – suites in Breckenridge luxury homes may include huge steam showers, traditional or infra-red saunas, fireplaces at the foot of sunken tubs, and of course heated floors. Look for skylights and floor-to-ceiling windows in bathrooms to make the most of Colorado’s 300 days of sunshine and mountain views.

Lights, Camera, Luxury!

Popular features in luxury homes in Breckenridge include media rooms or in-home theaters with rows of plush seats for family and friends. Have fun with the décor in your dream home, whether you prefer an old-time Hollywood theme with curtains and a vintage popcorn machine or a more modern feel. Just don’t forget the snack bar! For homeowners and guests who imbibe, a custom wine bar or in-home pub is another must, especially on game days, snow days and family movie nights.

Whether you’re looking to buy or sell or just explore your options, The Moens are your local experts in the Breckenridge luxury home market. Reach out today to discuss buying or selling a luxury home in Breckenridge.

Whether you’re looking to buy or sell a home in Breckenridge, a knowledgeable, experienced realtor with a proven track record in the community can make all the difference.

Here are some tips to help choose a realtor in Breckenridge who you can trust.

Long-Distance Relationships Can Work – With the Right Partner

If you’re buying or selling a home from afar or don’t have a lot of time to spend in the area, the Breckenridge based right realtor is crucial. You need someone who will go above and beyond in terms of research and legwork to make most of the limited time you are in town. Ask potential realtors if they offer video tours if you can’t visit properties in person.

Helping You Make the Best Impression

An experienced realtor with knowledge of what sells houses in Breckenridge can offer suggestions to update your home before putting it on the market, to increase the sale price and sell your home faster. Knowing how to stage a home is also very important in appealing to the right buyers. A realtor with marketing experience can help you with both.

Good Listeners Make Good Realtors

The right realtor will listen carefully to your wants and needs in addition to communicating clearly and honestly with you. This can make the house-hunting process more efficient, for example, with less wasted time on unnecessary viewings. If you’re selling, they’ll also listen to feedback from other realtors and potential buyers to make sure your home is competitive with similar properties.

Choosing A Full-Time Realtor Matters

Realtors who have worked full-time in the area for years not only know the homes listed for sale right now; they are familiar with market fluctuations, new lots for sale, future plans for development in the area and more. They can advise you if you need to jump on a property or offer, or if you can take your time. Also, you don’t want to miss out on the perfect sale just because your realtor only works part-time!

Always Ask the Locals

Realtors who have lived and worked in Breckenridge for years and know the community as a professional and local homeowner are invaluable in pointing out the pros and cons of a neighborhood to buyers who are new to the area. They can also recommend the best local tradesmen, furniture stores and coffee shops. All important things when you move to a new home!

Doing Your Homework Will Pay Off

Checking out reviews on websites like Zillow are a great source of information when you’re trying to choose a realtor. Reviews posted by other clients can speak to a realtor’s professionalism, personality and reputation. Don’t forget to check out potential realtors’ websites as well to learn about their work experience and background.

When trying to decide on a realtor, look for someone who offers the full package. Roger and Teresa Moens from RE/MAX Properties of the Summit have lived and worked in Breckenridge for more than 20 years and can help you with all of your real estate needs.