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Wait and see… or not

Realtors in Crested Butte are hearing a lot more people say “We’re going to wait…” these days.  Both buyers and sellers seem to be waiting for circumstances to change before moving ahead with buying something or listing their property for sale.  Depending on your circumstances that probably makes sense.  However, there are a lot of things happening that make real estate a good investment  so you may miss the boat by not at least arming yourself with information so you are prepared to make move when the time is right for you.

Low Inventory – Seller’s Alert!
There are some areas of the country where buyers cannot find properties to buy.  Crested Butte has a few niches where this is the case, but it is not as dramatic as in other places.

If you have been thinking about selling a property here, but sales haven’t supported what you want/need to sell it for you need information so you can make a move when the time is right.  We haven’t seen prices increase yet, but as demand increases and inventory tightens that is the natural next step.  Now is a great time to make improvements or at least make a list of things that should be done before listing your property for sale.  I would be happy to meet with you at your property to go over improvements, to talk about the market and make a plan going forward.  There are certain areas and price ranges where buyers are active, but cannot find properties to purchase so a sale this summer isn’t out of the question.

Things to think about:
1.  What projects should I consider to increase the sales price of my property?  These can be as simple as rearranging or touching up paint and as extensive as landscaping or renovating your kitchen.
2.  At what price does it make sense for me to sell my property?  What could I sell my property for this summer?
3.  What is it costing me to own my vacation or second home property on a monthly or annual basis?  Is it worth it to continue paying that amount while I wait for the market to come back?

Call or write me to talk about the possibilities for your property now and in the future.

Buyers – Be ready to act
Whether you have been looking for years or just started your search you may find the challenge of finding the right property overwhelming.  The days of amazing deals from foreclosures and short sales seem to be gone.  While we still have occasional foreclosures they aren’t the “diamond in the rough” that we once saw, now they are really just “rough” and also few and far between.

Even if you have made other plans to rent a home for the year or for your vacation, I suggest that you take some steps now to be ready to act when the right property comes along.  When an attractive property is priced correctly there have been multiple buyers submitting offers.  This can mean anywhere from 2 to 10 offers on a property so you need to know what you can and/or want to pay so you can get your best offer in quickly so you don’t miss out.

Things to think about:
1.  What type of property do I want?  What specific features do I want/need?  Where do I want to own property?
2.  How much money do I have to put towards the purchase?
3.  What type of loan makes sense for me and what amount can I qualify for?
4.  For investors, does it make sense to move some of my cash from the stock market into real estate?   What type of investment would be best for my situation?
5.  For vacation home buyers, do I want to be able to rent the property for short term income?

In general, it is the perfect time to buy – prices are low and interest rates of low, but that doesn’t mean it is the perfect time for you or that you can find the right property.  By being prepared, you will be ready to act when things change for you.  If  the right property for you doesn’t seem to be on the market, talk to me about how we can get creative and find something that will work.

Let’s work together to figure out how you can take advantage of this market so you aren’t looking back saying shoulda, coulda, woulda!

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