MikeSellsFirelight.com
Mike is a Real Estate Specialist for Firelight at Highlands Ranch
TV Interviews
See interviews of Mike Bradley on MetroBrokersTV.com
Are Open Houses worth while? Thursday, February 22, 2007
There is some debate on the effectiveness of open houses to sell a home, but it's still a common tool in the Realtor toolbox. Some agents work an open house for one reason...to get new buyer leads. You might find at an open house that the agent sitting there isn't the one that has the home listed. It's often an agent from the same office that doesn't have many clients of their own just yet and sitting at an open house gives that agent an opportunity to talk to potential buyers and hopefully make them a client.
But back to the question at hand. It's my opinion that open houses DO IN FACT HELP SELL YOUR HOME. But they should be done infrequently and at the right time. If you have an open house every weekend, you might convey the message that you are desprite to sell and a potential buyer might pick up on that if or when they make an offer.
I prefer to hold an open house once every six weeks. And it depends on the house I'm trying to sell what time and day is best. Family oriented homes seems to do well with Sunday afternoon open houses, after the church crowd get's out. Homes that interest the first time buyer seem to do better with Saturday mid-day open houses.
Watch the listings increase Friday, February 16, 2007
Here's a cool tip. Every day go to the website, http://www.ColoradoHomeStop.com and look at the number that appears where it reads, "Search XXXXX properties updated daily...start here!"
Right now, that site, which is the new Metro Brokers website, only has listings from the Denver metrolist so that number includes properties only in the Denver metro area for the most part.
As spring approaches. that number increases. I've been watching it and noticing that as of today it's 28,621. About a week ago is was 28,323. It's like having a real time pulse on the market.
Of course, I could look at the MLS directly and see how many active listings there are at any given time, but this method is easier and more fun.
Littleton Village moving ahead!!! Thursday, February 15, 2007
On February 7, 2007 the Littleton City Council (again) approved the proposal to redevelop 7400 S. Broadway, which was formally Marathon Oil (one of Littleton's largest employers a few decades ago).
The development to be called Littleton Village will transfor the 77+ acres into a mixed use commercial/retail/residential hot spot. Approximately 34 acres will be devoted to the commercial and retail aspects of the neighborhood and 43 acres will go to housing to include around 900 dwellings.
It's expected that infastructure work will begin in the summer of 2007 and the first homes will begin the following year.
Some interesting but overall unsurprising data. In summary:
Douglas county still has some appreciation in home prices (1.4%)
Arapahoe county has slipped in appreciation (-2.7%)
The area where I do most of my business is Highlands Ranch, zip code 80126. In this area, which includes the community of Firelight at Highlands Ranch...
Sales volume is down over 35%!
But home values are up 1.2%!
In other words, there is a lot of competition fighting for fewer buyers, but buyers are willing to pay for a quality home that is priced correctly.
This just in...the National Association of Realtors estimates that for every percentage point reduction in the home sales price (on a national average basis), 50,000 additional home buyers could enter the market.
Think about this when pricing your home, especially if you have had your home on the market for a long time.
