More Boulder Real Estate Selling Strategies

If you are ready to sell your Boulder real estate, and you really want to take full advantage of your selling opportunities. Don’t put your home on the market too soon.

There are several schools of thought on this and I’m going to give you mine. It’s oriented around the concept of ‘parade ready’.

Often I’ve seen real estate agents put their sign in the yard immediately after they get a signed listing agreement contract with a seller. I think this is a big mistake.

We are certainly not in the type of real estate market where houses are sold just minutes after they are offered for sale. Oh yes, those were the hay days and it didn’t take any skill or strategy to get a home sold.

Our current market in the Boulder area and surrounding communities is relatively stable. You can be thankful for that. (This is not true of many eastern front range and Denver metro areas).

So back to the problem, or rather, the solution.

At any given time, there is a pool of buyers circling the market, and looking at houses. These are the 14% out there who are working with professional Realtors, who have been pre-qualified, and are ready, willing and able to buy. Yes, only 14% of the full complement of buyers out there are likely true buyers. A huge chunk of these ‘buyers’ are just lookers. They are either renters who are dreaming of things to come, neighbors getting decorating tips, or any one of a number of other types of people who are not ready, willing, nor able to buy today.

I want you to understand that concept and then advance it. If those 14% of the lookers out there are the true buyers, and they are ready to take action and make a decision, do you want them to come into your house before it is ‘parade ready’? Those 14% are the parade, and if you aren’t ready, they’ll pass right over your house for sale and you’ll be left standing there with no offer to purchase, scratching your head wondering why your neighbor’s house just sold and yours didn’t.

Even in central Boulder, one of the more stable and strong markets in our region, there is still a lot of competition for a very limited pool of buyers. As the lending rules have become very strict, we have seen the buyer pool shrink significantly.

This summer there were only about half the number of homes sold as there were the previous year. You can review that data in my post on the Boulder real estate market update from September 6, 2008. I’ll post true stats in a future post by next week. But what’s important to know about Boulders buyer/borrower market is that according to my lending friends at Cherry Creek mortgage, about one third of the loans in the Boulder market were done for self-employed borrowers. This is important because generally these borrowers bought their homes with a loan product called a low-doc or a no-doc loan which often meant ‘stated income’. In case you hadn’t heard, stated income and no-doc loans are virtually a thing of the past.

Since the buyer market has shrunk so much, and so quickly, it’s more important than ever to be sure you are as well-prepared as you possibly can be when your home enters the market for sale. It’s called ‘parade-ready’.

There are several key steps to making your home parade ready, I’ll cover those in another post in a few days.

I’m going to reveal many key steps that must not be overlooked in this challenging market.

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