It’s definitely a seller’s market, and inventory is low,” said Blackburn. “If you are thinking of leaving the state of Colorado now or in the next five years, you should take your equity and run right now.
Westminster, CO (PRWEB) June 13, 2016
Broker associate Kurt Blackburn, of RE/MAX Northwest, in light of Colorado’s hot housing market, suggests now is the time to sell, especially if considering moving out of state. “It’s definitely a seller’s market, and inventory is low,” said Blackburn. “If you are thinking of leaving the state of Colorado now or in the next five years, you should take your equity and run right now.”
The current trend, adds Blackburn, is to get equity and buy a home in a less-expensive state, such as Kansas or South Dakota, for example. “Basically, wherever you can buy a house for $50,000-$100,000 and no longer have a mortgage,” said Blackburn.
For those considering relocating, Blackburn offers the following three tips on why now is the right time to sell.
No. 1: June is the best month to sell. “Buyers are out in droves due to the summer weather and their children being out of school, giving them more time to look for houses,” said Blackburn. “Additionally, they are eager to get a new house in order before the start of the next school year.”
No. 2: Seller’s market. Colorado has one of the hottest housing markets in the country, with many homes selling within hours or days after being listed. However, inventory is low and demand is high, which makes it a seller’s market. “It’s important, however, to not let your broker overprice your home and kill your momentum when coming into market,” said Blackburn. “List at or under value and let the buyer push the price up.”
No. 3: Home prices rising. According to Zillow, the median home value in Westminster, CO, is $297,600, an increase of 14.5% over the past year. Furthermore, Zillow predicts they will rise another 4.4% within the next year.
About Kurt Blackburn, RE/MAX Northwest
Kurt Blackburn is a broker associate at RE/MAX Northwest. He works with both buyers and sellers, specializing in residential and buyer brokerage. For more information, please call (303) 590-5641, or visit http://www.recolorado.com/kurt-blackburn. The office is located at 12000 Pecos Street, Suite 160, Westminster, CO 80234.
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