UNDERSTANDING HOME PRICES IN THE ESTES VALLEY
What is the top factor affecting real estate appreciation in this area? There are obviously a lot of national factors that have a noticeable impact on your home's worth. However, 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 its own economic bubble. What happens nationally, or even down-valley, hasn’t proven to necessarily have much of the corresponding effect up here. If you are thinking of selling your home in the Estes Valley, conditions are currently in your favor.
I hope that news provides you, as a property owner, with a sense of comfort and satisfaction.
Note **If you would like a copy of recent market statistics, I’ll get you one. Or, if you’d like to review them together, just let me know and we can arrange a time that works well for you**
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.)
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, there are many factors to indicate that it will continue to do so.
Real estate sales trends
What's the time on 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. I’ll be glad to research your particular situation and present you with an accurate, statistically-based assessment of your home’s value, along with the options available to you to meet your goals. There is no charge and no obligation.
A word about Zillow
From Zillow itself, as quoted in the Washington Post, June 10, 2014: “The Zestimate is not an appraisal and you won’t be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate… given the available data. Zillow does not offer the Zestimate as the basis of any specific real estate related financial transaction. 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.”