The One Dollar Listing

Have you ever seen a property for sale that the price seems too good to be true? You then rush to call your Agent to go see it and make an offer as quickly as possible. You wait and wait for a response only to find out that there is multiple offers! The excitement you felt about getting a teriffic bargain has turned to disappointment beacuse you have been out-bid.

You have just experienced a sales strategy known as "Under Pricing".  Becoming more common, designed to produce multiple offers and thereby putting the seller in control of the negotiations, many Colorado Springs home buyers have experienced this scenario.

In the Colorado Springs Real Estate Market, Under Pricing is becoming more and more common. You may see the obvious "One Dollar" listing, which is a huge red flag, as no one is going to sell a property for a dollar, or the more covert Under Pricing where a property may be priced 10% or more below market.

Certainly, I am not saying that all homes with an attractive price are a purposeful attempt to Under Price, however understanding the intentions of the seller and their agent is essential.  Experience has proven that there are certain local agents who rely on this strategy as a staple of their business.

When looking for a home, you very well may want to try your hand at these types of homes. Certainly that is your option as a consumer. I am an advocate of informing the buyer upfront when an Under Pricing strategy may be in-play. Knowing this up-front will help you avoid any future disappointment should you be out-bid.

Consumer Info provided by William Szilagyi Williams HomeSellers www.WilliamsHomeSellers.com www.ZColorado.com 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

 

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Colorado Springs Real Estate Market Statistics for 3-29-10

Colorado Springs Real Estate Market Statistics are now posted. Good news across the board!

Click here to see this week's reports

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Real Estate Market Trends for Colorado Springs Area Updated as of 3/22/2010

Click here to View this week's reports

William Szilagyi Williams HomeSellers www.ZColorado.com www.WilliamsHomeSellers.com 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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Mortgate Rates Available on www.ZColorado.com

Now check daily mortgage interest rates on www.ZColorado.com.

Get recent market trends, search homes, map search, home evaluation and much more....Free

William Szilagy WilliamsHomeSellers 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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Negotiations- A sense of fair play is crucial

Negotiation Defined

1. General: Bargaining (give and take) process between two or more parties (each with its own aims, needs, and viewpoints) seeking to discover a common ground and reach an agreement to settle a matter of mutual concern or resolve a conflict.

2. Trading: Process by which a negotiable instrument is transferred from one party (transferor) to another (transferee) by endorsement or delivery. The transferee takes the instrument in good faith, for value, and without notice of any defect in the title of the transferor, and obtains an indefeasible title.

In my opinion, when negotiating  the purchase or sale of Colorado Springs real estate a sense of fair play and a "Win-Win" scenario is always preferrable to a "Win-Lose" scenario.

Knowing points of importance and having an up-front strategy is crucial. If negotiating price determine which properties will likely produce the desired result. There is no sense in attempting negotiations with a seller who is at market value to try to steal their property way below market. Target those properties which stand to BENEFIT from an offer is price driven. A seller who benefits from a sale where the price may be low, is more likely to be open to this type of negotiations. Possible types of properties are: Short Sales, Fixer Uppers, Bank Owned and HUD homes.

Conversely, when selling, power of negotiations start with a reasonable asking price for your home. Your price must be compared to features and benefits which, when matched against price, provide a reasonable VALUE EQUATION. There are plenty of "Willing and able" Buyers who will chose your home, even at a higher price, if your VALUE EQUATION is correct.

A sense of fair play is crucial on either side. Most folks are not well versed in negotiation strategies. Opening negotiations with a scenario that will offend the other side and cause them "Dig their heel in" removes any flexibility they may have and drastically reduce the chances of moving forward.

Also Important for a successful outcome is to deal in factual information. Communicating factual reasons for offers or Counterproposals often leads to a more successful resolution and leaves both parties with a feeling of accomplishment at the end of the day.

In most circumstances, if you strategy is defined up-front and you stick to your plan, satisfaction will be yours.

Courtesy of William Szilagyi Williams HomeSellers www.ZColorado.com www.WilliamsHomeSellers.com 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

 

 

 

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Dual Agency, Who Benefits? See the Definitions of Working Relationships First!

If you are not familiar with the term DUAL AGENCY, here is the quick definition. A Dual Agent is someone who represents both the Buyer AND the Seller in the same transaction.

In most areas, like Colorado Springs for example, you can not legally be a dual agent in a real estate transaction. You can however be a Transaction Broker. Basically the same idea with different responsibilities.

Q: Who benefits by having only one agent in a real estate transaction?

A: That depends on your point of view!

Let me explain. There are a couple different ways to look at it.

Lets start with the PRO's: (Assuming a competent agent)

• My personal opinion is that is it always easier to deal with the other agent when you are the other agent!
• Processes are easier, under most circumstances, with only one agent because lines of communication are shorter.
• If you have enough "Trust" within the principals and the Broker, the negotiations are more streamline and tasks easiest to accomplish

The CON's for using Transaction Broker

• Confidential information may be inadversely communicated to the other party.
• Assuming the Broker is not competent, there is no "Other Broker" to push the deal and keep things on track.
• There could be failure to disclose pertinent information with no checks and balances.
• You never know for sure where the Transaction Broker's loyalties are. They actually have no Fiduciary responsibility to either side.

Certainy, most Colorado Springs Real Estate Brokers have the integrity and competence to be a Transaction Broker. If you are considering a relationship with a Real Estate Broker. They must first show you the form called DEFINITIONS OF WORKING RELATIONSHIPS. Be sure they fully review it with you, make sure you have thorough understanding of what the relationships are and be sure you know how this applies to you.

Consumer info by William Szilagyi Williams HomeSellers www.ZColorado.com www.WilliamsHomeSellers.com 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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Dual Agency, Who Benefits?

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Colorado Springs Economy on the rise

Ok I've mentioned it before...the Colorado Springs economy, in my opinion is in a good place. Builder Magazine already has the Colorado Springs Real Estate market ranked #14 nationally and now this article from The Gazette (The Local Colorado Springs Newspaper).

The article, written by Bill Radford of the Gazette, says" Another sign of the budding economic recovery, February sales tax collections rose 4.74 percent compared with February 2009, the Colorado Springs Financial and Administrative Services Department reported Monday.

February collections reflect consumer and business purchases made in January. It is the fourth straight month of year-to-year increases..."

Obviously this is more empirical evidence that recovery for Colorado Springs is underway. Furthermore, with tax revenues increasing, a rise in real estate prices will follow.  Personally speaking, demand for Colorado Springs real estate is up. On numerous occasions we are seeing multple offers and our sellers are getting close to asking price.

One caveat, watch interest rates! With government spending at a record pace, rising deficits and a huge national debt, interest rates may begin to rise soon. Sage advice: Get now while the gettin is good!

Click here  to see the referenced article entitled "Sales tax collections climb again in February" written by Bill Radford, The Gazette March 15, 2010

Consumer Info By William Szilagyi Williams HomeSellers LLC www.ZColorado.com www.WilliamsHomeSellers.com 719-646-2634 colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

 

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Colorado Springs Real Estate Market Statistics for 3-15-10

Market Statistics for Colorado Springs are now available. Click here to see this weeks numbers.

William Szilagyi Williams HomeSellers www.ZColorado.com www.WilliamsHomeSellers.com colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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Daylight savings time. Reminder to move clocks forward

1 step closer to summer. Daylight saving is here. If yo have not set your clocks forward, be sure to do it today!

William Szilagyi WilliamsHomeSellers www.ZColorado.com www.WilliamsHomeSellers.com colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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What you should know to get your home sold fast and for Top Dollar

Points to condiser to help your Colorado Springs home sell fast and for top dollar:

• Know why you are selling- is price, time on market or both the most important
• Keep these reasons to yourself- exposing motivation can be fatal in the negotiation process
• Do your homework- shop the competition first
• Consider a pre-sale appraisal
• Look at your tax assessment- the buyer will: know this number upfront
• Choose the right Realtor- literally, thousands of dollars rest upon this decision alone
• Setting the right price- 90% of marktiing your home is being in the right range
• Appearance of your home- it does matter. Make it count!
• Remove clutter- give the buyer an opportunity to visualize themselves living there
• Keep it clean- nothing turns a buyer off faster than an untidy home
• Odors offend- be dure you home has a pleasant aroma
• Disclose, disclose, disclose!
• More prospects, more chances- effective marketing will create more buyers. Have them compete against eachother instead of you. It's more fun!
• Keep emotions out!- deal in facts only.
• Learn why the buyer is motivated- More information = your advantage
• Never buy a new home before selling- this 1 mistake can devestate your negotiating power
• Don't move before sale or if you do make you vacant home look lived in
• Don't put deadlines on sale- this equals pressure and lessens negotiation pressure

Information provided by William Szilagyi Williams HomeSellers www.ZColorado.com www.WilliamsHomeSellers.com 719-646-4987

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Our Troops Rock!

I get an opportunity to meet our soldiers and their families on a regular basis. I am always humbled!

The sacrifices you all make, soldiers and families, is remarkable.

Thank You!

 

 

 

 

 

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Why being nervous about your Appraisal is a good thing

If you have not heard the news, Colorado Springs Real Estate appraisals have become more conservative with values being scrutinized more often. Ultimately this is a good thing because appraisals, along with loose lending standards of the past, played major roles in unsustainable rise in real estate prices. In days past appraisal were never an issue and homes always mysteriously came in at value.

Fast forward...today, in Colorado Springs appraisers are now being held into account. This means that their reports must be substantiated with solid documented facts on how their opinion of value was determined. Furthermore, underwriters now have the ability to adjust the value downward simply because they disagree with supporting evidence or the property being located within a declining market. This can happen without warning and has the ability to kill the sale. Obviously, during the appraisal process, sellers tend to be nervous because of the uncertainty of obtaining value.

My point of view is this. If you are a seller and looking to maximize your homes value you WANT to be nervous during this process. This is a sure sign that you are getting "TOP DOLLAR" for your home. Your agent should be doing everything ethically possible to squeeze every penny out during the sale.

I might also suggest that (Unless you just want to get your home sold and are not primarily concerned with value) you address this while interviewing an agent to list your home. Be sure that your listing price is based on facts. A good agent should have an understanding of value adjustments that can be substantiated with data and know how to present a reasonable case to obtain this value.

Although communication between appraisers, lenders and Realtors is now more restricted, and it is more inconvenient for everybody involved, these restrictions do help prevent colusion between them. Knowing how to navigate within the boundaries while achieving the highest sales price is now more difficult than ever: and rightfully so. The upside of this inconvenience is consumer confidence and industry professionalism.

 

Courtesy of William Szilagyi Williams HomeSellers LLC www.ZColorado.com www.WilliamsHomeSellers.com 719-646-2634

 

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The FSBO and the Elephant in the Corner

As a Colorado Springs Real Estate Broker, I speak with hundreds of FSBO's, and like Led Zepplin once said "The song remains the same". On just about every occasion the FSBO's identify the main reason why they are selling their own home-to save the commission. Although the reason is not original, I respect it as their decision, their home and their finances!

The facts indicate that Real Estate commission, while seeming expensive, DOES produce a return on investment. Consider the facts:

• It is a statistical fact that the competent agent negotiates a higher sale price than the owner does. The buyer responds differently to the agent than they typically do with the seller.
• Buyer of a "FSBO" expects to pay less than the fair market value.
• Statistics tell us that only about 3%-4% of home buyers actually buy the home that they called on.
• 90% of all home buyers use a  Real Estate professional
• The typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.
• FSBOs accounted for 13% of home sales in 2008
• FSBO transactions have a much higher chance of legal disputes

So the "Elephant in the corner" is that the DIY home seller is actually saving the commission. They are not! Facts indicate that they are actually losing money, decreasing the chances of selling, increasing the time it takes to sell and increasing the chances of legal disputes.

Opinion article Written By William Szilagyi Williams HomeSellers www.ZColorado.com 719-646-2634 Statistical data resources: Realtor.org

 

 

 

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Colorado Springs Real Estate Market Trends Available for 3/9

Happy Tuesday, Can you believe spring is almost here? Lets go summer! Almost time for BBQ, Boating, Fishing, Camping and Country Music by the fire...oh yeah!

Anyway, back to reality for a moment. This weeks MARKET TRENDS  are available for Colorado Springs Real Estate (and surrounding areas too). Click here to see them.

Overall there is more activity in the market. As we spoke about in earlier articles, real estate in Colorado Springs is at more of an equilibrium than most of the country. In fact, Colorado Springs is ranked #14 by Builder magazine for real estate stability.

This is great news for sellers who are not over-financed. Equally this is good news for buyers as prices are more affordable than other areas and local economic indicators point to a stable future.

If you are planning a move, now is the time to "Get-er-done" so you can enjoy the summer months activities!

 

Consumer information provided by William Szilagyi Williams HomeSellers

www.Zcolorado.com William@WilliamsHomeSellers.com Office:719-646-2634

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Interesting point of view on how to determine future of real estate market

If you are considering buying or selling real estate in the Colorado Springs Real Estate market, check out this article I found.

Here is an excerpt. "If you're trying to figure out where real estate is headed in the coming months, should you listen to the Federal Reserve -- or do you focus on the latest pending home sales numbers?

Probably both, but here's a key fact: The Fed's latest "Beige Book" report -- based on economic data from each of its 12 regional member banks -- found positive signs in nine of the 12 regions it covered.

Click here for the rest of the article named Real Estate Outlook: Federal Reserve Beige Book and written by Kenneth R. Harney

Information provided By William Szilagyi Williams HomeSellers LLC www.ZColorado.com colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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Please help! Visit www.ZColorado.com- Provide Feedback

Hey everyone, We have been working on a new Blog site that is geared toward Colorado Springs Real Estate information vs the typical "Sales" site you see so much of. The URL is www.ZColorado.com.

I would appreciate feedback on what you like, dislike and what other resources would be helpful. FYI school, military and neighborhood info coming and daily updates will be added. Thank you for helping

William Szilagyi WilliamsHomeSellers Colorado springs home values,colorado springs homes for sale,colorado springs housing,colorado springs real estate,colorado springs realtor,colorado springs realty,foreclosed homes colorado springs,foreclosure colorado springs,fort carson housing,fort carson real estate,home values colorado springs,homes colorado springs,homes for sale colorado springs,housing colorado springs,mls colorado springs,mls listing colorado springs,mls listing colorado springs,property colorado springs,realtor colorado springs,realty colorado springs

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More free-bees when you buy a home Fannie-mae to offer appliances

Ok, the "Free-bees" just keep rollin in...now you can get free appliances on select homes! Fannie-mae homes are now offering appliances in addition to paying buyer closing cost up to 3.5%.

Also Fannie-mae homes are sold as is, but the word on the street is that they may be willing to do "Some repairs" to accomodate FHA and VA appraisal conditions.

To get a complete list of Fannie-mae owned homes for sale, Call: William Szilagyi WilliamsHomeSellers www.ZColorado.com 719-646-2634

 

 

 

 

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Property Condition Impacts Selling Your Home

Last week we saw 177 HOMES SELL in the Colorado Springs Real Estate market. Not bad numbers, right? Well, certainly a step in the right direction but there were 2974 Active Listings so less than 10% of all homes Listed actually Sold. Also there were 213 New Listings that came on the market for the same week.

Let's look at the positives though. Colorado Springs Homes are selling and the market is turning the corner. In fact, the Colorado Springs Real Estate market was ranked #14 healthiest market for 2010 nationwide by Builder Magazine. Also, short sales are becoming less and less popular by both Buyer and Realtor. This means that "Regular homes" are increasing in popularity.

So, if you want to maximize value you must maximize condition. We have encountered, on recent occasions, multiple offers. That's right I said MULTIPLE OFFERS on homes that were in immaculate condition.

The determining factor fot maximizing value is the condition of the home. You must address the condition in a variety of ways: Lighting, Cleanliness, Accessories, Decor, etc.

If you plan to sell, and would like to have an evaluation of your homes condition along with free tips on what improvements should be made, contact William Szilagyi WilliamsHomeSellers LLC www.WilliamsHomeSellers.com www.ZColorado.com 719-646-2634

 

 

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58 days left for tax credit...and did you know? William Szilagyi Williams Homesellers Colorado Springs Real Estate

Did you know?

With the tax credit you can:

•  Claim the credit on their 2009 return, even if the purchase is completed after December 31, 2009
•  File an amended return for 2009 if their purchase is completed after April 15, 2010
•  Or you can just claim the credit on their 2010 tax returns.

If you decide to apply tax credit to 2009 you will need to:

• Fill out Form 5405 to determine the amount of your available credit;
• Apply the credit when you file your 2009 tax return or file an amended return;
• Attach documentation of purchase to your return or amended return.

I have heard of retroactive taxes before but when has the government ever allowed reatoactive tax credits? Never that I can think of so get while the gettin' is good!

Consumer info provided by William Szilagyi Williams Homesellers www.WilliamsHomeSellers.com www.ZColorado.com Resource for information courtesy of Realtor.org. Not intended to be used as tax advice. Please consult a tax professional for final Homebuyer Tax Credit advice.

 

 

 

 

 

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Some personal thoughts about the adversity we all face

So this morning I was getting in my cardio workout in, watching a little news, contemplating what was inspiring me and how this was going to relate to writing a post about Colorado Springs Real Estate. Admittedly so this is a little of topic.

You know how it goes when one thought leads to another? We'll that how it was going for me today while tuned in to America's Newsroom and missing Megyn Kelly. Since I've had this thought before I initially began to ignore it. Then my brain picked up momentum and kicked in overdrive.

Here it is, "As a Country, we are headed in the wrong direction and people are scared". Ok, give me credit for pointing out the obvious! Today though, it hit me that there is something more. (Don't worry I am not going "Conspiracy theory" here), "I am not only concerned about the direction of the Country, I am feeling a bit bewildered because I feel we are like a ship with no rudder and no direction. Furthermore there are millions out there, like me and even worse, they are waiting for the other shoe to drop"....WOW what a moment!

Being both a pragmatist and an optimist I quickly moved myself back to reality and out of the drama! "Sure we have issues. Of course there has been some really scary recent times and probably a few more to come". Again thoughts with direction and momentum, I move even further to: "What must I do to make a difference"?

The answer is the same simple one in which I come back to. Faith. Faith in God, faith in people, faith in this Country faith in myself. Again, thought process in full swing, I try to remember the challenging times in my life. It's funny how that works, I have little memory of the actual challenges themselves but much evidence of the blessings that have come from them. Character, Faith and Family: all stronger!

Speaking confidently, I believe that people are engaged in today's events. The Giant is awake and finally paying attention. Politics aside, for the first time, in a long time, voices are being heard. This is a great time to be an American. Character, Faith and Family are all being restored and their effects will be felt for a long time to come. So today, make a difference simply by having faith, live like an American and continue to press on. We will all be better for it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Colorado Springs Real Estate Market Statistics for 3-1-10

This weeks Real Estate market stats are available for Colorado Springs, Fountain and Monument Areas. To see them now Click Here

For Specific values on your home Call William Szilagyi Williams HomeSellers 719-646-2634 www.WilliamsHomeSellers.com www.ZColorado.com

 

 

 

 

 

 

 

 

 

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