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Compared to other markets, Angel Fire is still a seller’s market. In addition to the historic steady stream of families from surrounding states who come here to enjoy our delightful summers and winter sports, we have benefited from “remote employees” that can work from locations other than the office.
More often than in the past we hear folks talk about having a place where the family can come to during uncertain times.
Home prices have increased over the last several years. As an example, the median home price of sold homes has gone from $399,000 in 2020, to $649,000 in 2023.
Selling a home-primary or vacation/secondary is not a casual decision or process. Having been a successful broker in this market for over 10 years, it is my job to help you successfully implement and complete your decision.
Just like football – the basics are pass, run, and kick. The many, many details and successful executions of the basics are what generate success on the field. My job as a Relator is to help you manage our details that result in the successful sale of your property.
As part of your decision on the listing price, it is important for us to do a realistic evaluation of your home – compared to the competitive properties. Much of this can be done by reviewing active and sold listings in the MLS. Comparisons should include reviewing pictures of the home, not just the number of beds and baths and square feet.
The example I like to use is this. “Suppose the home on the MLS has a 15-year-old kitchen with chipped Formica countertops and harvest gold appliances? Would you consider it comparable to a home with a totally newly remodeled kitchen with new stainless-steel appliances?
The point is this – would your offer be the same for both homes, if everything else was equal? Or if that kitchen is yours, how would it affect your listing price. And would you profit from upgrading your kitchen with a higher listing price?
I help my Sellers avoid last minute negotiations and the related drama by suggesting and working with them on the following:
With regards to the interior, the concept should be, “Repair – Refurbish -Remove!” I encourage my sellers to make a serious effort to promote the visual impact of a significant amount of “Open Space” and a minimum of furniture, fixtures, and personal items that a prospective buyer would perceive as “clutter” and make the home appear smaller.
In the Angel Fire market, the primary emphasis should be on professional grade photographs of the home and properly written descriptions for your MLS listing. I do this for my clients.
Most prospective buyers are the clients of local brokers who send the MLS reports and personal viewing commentary to their clients who live elsewhere. Advertising on sites such as Facebook and Instagram may generate comments, but rarely generate traffic in this market.
If you will be in residence during the listing process you and the broker must have specific days and times when the home will be open and available. Maintaining your home in “showing condition” and having brokers show up without proper notice is not reasonable or productive.
If you will not be home during this time, it is the responsibility of the broker to have the home open and ready to show when buyers drive up to the curb. They will also be responsible for closing the home afterwards.
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Photo by PhotoMIX Company
When offer(s) come in, it is natural to first focus on the offer price. It is realistic to expect that offers will be in the 90-95% range, but that is only one of the principle factors to consider.
All these issues can be dealt with on a Counteroffer. My responsibility is to also work with the Buyer’s broker to understand their concerns or limits in order to develop an agreement agreeable to both parties.
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Image by Mohamed Hassan from Pixelbay
2021 | 2022 | 2023 | |
---|---|---|---|
Home Sold | 149 | 94 | 97 |
Total Listing Price | $102,896,299 | $72,115,400 | $72,498,242 |
Median Listing Price | $559,001 | $722,000 | $664,000 |
Total Sales Price | $99,797,904 | $69,613,159 | $69,803,109 |
Average Sold Price per Square Foot | $266.05 | $317.91 | $308.40 |
Average Days on Market | 66 | 67 | 54 |
*Data from Taos County Realtors MLS Reports. Includes properties listed and sold in the calendar year.
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