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Listing and Selling Your Home

INTRODUCTION

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.


COMPETITIVE MARKET ANALYSIS

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?



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PRE-LISTING PREPARATION

I help my Sellers avoid last minute negotiations and the related drama by suggesting and working with them on the following:


  • Pre-Listing inventory of all major appliances and systems showing installation date and operational status.


  • Preventive maintenance and cleaning prior to listing date.


  • Name and address of service/repair personnel.


  • Exterior of the home, property, and outdoor furniture be in “Dive By” condition. (Many prospective buyers will look for broker’s signs in front yards as a basis for asking for a showing.)



Image by Mo Farrelly from Pixelbay

Image by Ron Hoekstra from Pixelbay

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.


“We want prospective buyers to envision your home as their home.”


ADVERTISING

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.



SHOWING TIME

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.



Image by Luis Estrada from Pixelbay

EVALUATION OF OFFERS

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.


  • Price. A reasonable counteroffer may be the best response to a low offer.


  • Closing Date. Extended or Immediate closing dates have issues that must be understood and acceptable to you and the family.


  • Buyer Financing. The buyer’s financing and earnest money should be in the offer and clearly understood.


  • Closing Assistance. We do have young couples coming to Angel Fire who may request financial assistance to close.



  • Contingencies. Is the sale contingent on the home inspection or some other request by the buyer that is out of the ordinary?


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.



Image by Mohamed Hassan from Pixelbay

THE CLOSING

  • Repairs – ensure all required/agreed to repairs have been completed. Invoices should be provided as proof of work and warranties.


  • Final Walk Thru - Buyers are usually focused on requested repairs and want to ensure that they did not miss something important. 


  • Title Company – Documents prepared for closing date should have been reviewed in advance. Settlement statement is where the amount due to the seller is shown.



Single Family Home Sales in Angel Fire 2021-2023

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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