What's the value of your home?
Historically, house values almost everywhere appreciate over the long term. Some great news for potential sellers here is that in 2015, the number of Estes Valley properties sold outdid the previous best (2004) by almost
22%, and the total dollar volume outdid 2014 by 24%. In fact, my research revealed that last year was the strongest real estate market in Estes in the last 35 years, making it likely the strongest ever!
And, even better news if you're considering selling, is that all those recent transactions mean that currently the "for sale" inventory is very low, and what is available is not on the market very long, so if you are thinking of selling, conditions are in your favor.
I hope this news provides you, as a property owner, with a sense of comfort and satisfaction.
What are the top factors affecting real estate appreciation?
Your house's value and the elements that play the biggest role in its appreciation depend on the local Estes Park economy and housing market. This is a unique and fluid market that seems to have it’s own economic bubble. (What happens nationally, or even down-valley, hasn’t proven to necessarily have much corresponding effect up here.)
The community’s appreciation history:
Taken as a whole, real estate in the Estes Valley has a long track record of stable appreciation, much more so than in many communities. While no one has a crystal ball, as the statistics referred to above attest, there are many factors to indicate that it will continue to do so.
Your property’s location within the community:
An interesting reality in Estes is that you can drive half-a-block (or half-an-acre… or more) and the neighborhood can change much more dramatically than in most locales— this is not a market with a history of large developments. (Part of the charm of Estes is that the valley offers a Iarge number of one-of-a kind homes next to other one-of-a kind homes.)
Real estate trends:
- What is the average time competitive homes are on the market? What was the final sales amount versus the asking price? While a lot of data can be obtained online and from public records (some of which can be either inaccurate or misleading), analyzing it within such a fluid and unique market is complex. To monitor our market, I evaluate home values every day, tracking what is selling and what is not (as well as what is selling quickly and what is not).
- To establish the value of your property, I will begin by comparing your home’s basic statistics (square footage, age, number of bed and bathrooms, location, etc.) to recent sales and other, similar homes presently on the market and prepare a free Comparative Market Analysis, (CMA) for you so you have an up-to-the-minute overview of what your home is approximately worth. Once we have a chance to talk and I get to tour your property and experience its attributes, (its floor plan, what views it offers, its condition, etc.,) I will then reexamine the competition with your specifics factored in and refine your CMA and provide you a very precise accounting of what your home is worth and why. With your unique goals in mind I will then make my pricing recommendation—always respecting that you have the final say regarding at what price your property is introduced into the marketplace.
My goal is to provide you with the most thorough, accurate and current information available—coupled with the insights I’ve gained over my many years of helping people sell and buy property—so you can make sound decisions that you can feel comfortable with far into the future.
A word about Zillow – From Zillow itself, as quoted in the Washington Post, June 10, 2014: “The Zestimate… is a computer-generated estimate… given the available data… Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.”