Teresa’s Take On Things

Hello, everybody,

Here in Breckenridge we are recovering from 500 inches of snow! Several of the local ski areas have passed that mark. It has been a long winter but great skiing. All the skiers are talking about how many days they have in this year. As we prepare ourselves for spring and warm weather we are also getting ready for the selling season. Approximately 70% of our business happens in the summer. I believe it is because people that come here for the winter skiing don’t want to spend their time looking at real estate so they often come back during the summer. Also, many people have their property on rental programs and want to get those high dollar rentals. So this is the time we are building our inventory of property for you to see. We have about five listings that are ready to be put on the MLS from folks that have been waiting for the summer season to come. We are excited as people are feeling more confident in the economy and the lenders are offering great deals.

Come visit us and remember that in Breckenridge, “Our everyday is everybody’s dream!”

Teresa

Hello, everybody,

Here are a few items that I wanted to share with you on how to get the property you want and have a smooth painless professional transaction. I have noticed a few things over the years that have killed a deal and wanted to share them with you.

• Sellers, don’t bring your emotions to the business of selling a home. In these turbulent times the buyers are aware that there are good deals out there, but they are not sure where to start when they make an offer because the selling prices vs. asking prices are all over the map. They see reports on the comps in your area where there might be a bank owned property with a low price that throws everything off. As a seller, never just reject an offer, and always counter (maybe with full price). Sometimes the first offer is just to see where you stand and how motivated you are. As a seller, when you get an offer do not be offended if you feel it is too low. This is not a reflection on your property but simply a different understanding of the market.
• When a property is advertised as “Motivated Seller,” this could mean one price to the buyer and another to the seller. No one is being dishonest; it is just a different way of thinking. When negotiating an offer, $10,000 may seem to be an exorbitant amount of money to the seller but not to the buyer.
• Buyers, don’t trash talk a home thinking that this will help you in negotiating a better price. Even though I advise people to not take the business of selling a home personally, people still have a lot of emotions about their homes and their memories, style of decorating etc. This business can be done with integrity and respect so that all parties are pleased.
• Pick your battles. If there is a microwave that is in dispute for example, do you want to walk away from buying or selling a home because of it? Really? I have seen it happen. Pick your battles and choose the items that truly matter to you and don’t sweat the small stuff.

So I think I will do this periodically because it is getting a lot of good response and it is sort of the ABC’s of real estate. It is the little things that can make all the difference.

See you soon,

Teresa

Hello, everybody,

“So, you know it’s a buyers market when the locals are buying up all the real estate!” 😀

This has been our experience with the local Breckenridge, Colorado real estate market so far in 2011. I believe that people have been waiting for the bottom to hit so they can obtain the best deal possible.

Since our numbers have shown some recovery, the locals are stepping forward and taking advantage of the opportunities. Most of the homes and condos we have sold have also been cash deals. Even though the interest rates are staying low with a lot of lenders, many people have been sitting on cash and are now ready to purchase.

The other source of business has been our clients that we have been working with for years and they are seeing that prices that are rolled back to what they were around 2005-06. One client finally bought his family a log home after looking at property for nearly 10 years! The family is thrilled to be here part time and are enjoying the great snow we have had this year. He was able to buy this beautiful log home at those prices from years ago.

We had another couple that have wanted to own here for years and just bought their first townhome after renting for way too long. The figured they could now afford a place and their payments go towards their investment instead of rent paying someone else’s mortgage.

So life is good here in the mountains! Come and see us or give us a call!

Teresa

PS: Oh by the way – we have a new video introducing ourselves – check it out!