You should interview several agents. An agent who represents only buyers might be the right fit for you. There are also many independent Realtors. Sorting through who is best fit involves a little more time. I cannot stress enough the importance of talking with several agents for a few minutes to see if they communicate well. You should get the impression that the agent listens and has established themselves in the industry as an expert. If you're looking for investment properties, you might consider someone with specific additional skills - say a construction background. There are plenty of agents out there who bring unique skills to the business.
Make some calls is my advice.... more
It depends on the realtor and his/her relationship to the seller. Sometimes they will negotiate with the seller but often not. I'd say it's worth trying to find a good buyer's agent to work on your behalf! Call me and I'd be happy to discuss the options with you - no obligation of course.... more
Generally no; however it's always in your best interest to visit any neighborhood of interest several times before considering any purchase; for any necessary legal advice do consult with an attorney.... more
Yes they are negotiable. You have to remember that just because the seller accepts your offer doesn't mean the lender will approve it. The seller isn't getting anything at closing on a short sale, so they may accept an unreasonably low offer, only to have it rejected by the bank after you work on the transaction for 60-120 days. The lenders will have multiple evaluations and appraisals performed, in order to get the information they feel is necessary to make a good business decision. They will typically approve a transaction that is under market value, but my experience has been that the lender will not accept an offer that is more than 10-15% below the market value. You can ask for seller concessions, just remember tha the lender is the one actually paying the costs, by virtue of their payoff being that much lower at closing. They will accept offer with seller concessions if the price is right. If you have to have a seller concession because you can't afford a downpaymenbt, then the lender will likely shy away from your offer. They don't want the property tied down unless it is a strong offer.... more
Hi there, There are many factors to consider such as, type of seller(bank owned, short sale, typical seller), time on the market, time since last price reduction, and of course where the current listing price is at in relation to actual market value. There are a number of things in the offer, besides the price that can sway a seller to take a lower price as well. Some homes are already listed at a price that are an excellent bargain and getting another 20% off is not a reasonable expectation. A large part of my business is listing and selling bank owned properties and there are very specific strategies to making a good deal even better on those types of properties or to make your offer stand out in a multiple offer situation which occurs often when you find a great deal. Have your financing in place and have a prequalification letter ready. Get familiar with the market so you know a good deal when you see one and be ready to act quickly when the right one comes along. Be prepared and find a competent Realtor that you can form a good working relationship with. Let me know if you have any other questions or if I can be of any assistance.... more
1. โHow much can I afford? Contact a local lender.ย With the daily changes inย the mortgage world, you need up to the minute information.ย Itโsย important to know what you can reasonably afford, what
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Firstly - the 'median' property price has shown national declines. Keep in mind the power of presentation for statistics. To me this only means that the buying demographic has moved to lesser priced homes. Median is just a mathematical calculation. Many infer that means the market is in decline, perhaps just buyers looking for the inexpensive side of the range. I see this in my area, the middle range has less inventory and subsequent less sales. Staging, quality curb and interior appeal and of course location will make it appear that the house may be priced to high. There are properties that I have prepared opinions of value for over a year ago, and the owners finally ask to list the house...... I complete another opinion and in most cases, the properly staged, properly priced properties carry the same value 12+ months later.... look at the quality of the structure and the location. In some markets with lower inventory - those 'nice' properties may actually increase.... more
Hey there,
Good question. The price per square foot in Durango depends on a few things as you can imagine. If you have a specific home or location in mind, let us know and we'll be happy to do some research. The average price per square foot is just over $200 but we are seeing many agressively priced properties at much less than that in place like Durango West (I and II) and Forest Lakes in Bayfield. As a home goes up in square footage, the price per sqft comes down so a 1000 sf place in town may be over $300 psf while a 2200 sf place in town may be under $200 psf. Again, if you have an area in mind let us know and we'll get you a better idea. Condition and finishes also contribute, acreage, etc. Cheers, Sebastian... more
Great answers! There are multiple possibilities or action steps. The first course of action is diplomacy with the agent, and let them know that you do not like the way they handle their fiduciary responsibilities, which are more important than the contractual obligation. A call to the principal broker, perhaps the owner of the real estate firm may settle the dilemma.... more
Unfortunately, the price you have it listed at is not doing the job. All properties will sell if priced appropriately and unfortunately we are not in a market that supports our consumers "breaking even".
If you didn't want to put in the new carpet, you could also consider including a "carpet allowance" for the new buyer to select what they want.
Are you getting any showings right!?! If you do not have good showing activity that is another indicator that you need to lower your price.
I have a listing that closed that started at $550k and in order to finally sell, we dropped to $300k. The sellers were so concerned with making money - then breaking even - then FINALLY with SELLING!!
Hope this helps!
Brooke Hengst
REALTOR, CDPE, The Elite Team
Your Castle Real Estate
(720) 988-5952
bhengst1@gmail.com
www.brookehengst.com... more
Average price per square foot for Durango CO was $196, a decrease of 8% compared to the same period last year. The median sales price for homes in Durango CO for Jul 11 to Sep 11 was $317,700 based on
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The Durango market is not as saturated with foreclosure sales than some might think. It would be wise to interview several agents, referred by a friend or neighbor perhaps, and don';t go with the one who puts themselves out there as a top dog...reality is that you are likely not going to hear from them again even if you do list with them. You will get to talk with one of their many assistants as often as you like, and they will pass on the question and get back to you....wasting your time. You'd be surprised to find out how hard many of the agents out there will work for you and not send you on an ego trip. Remember, price is key in any market and going with the agent who quotes you the highest price is like begging to sit on the market a good long time and finally selling for much less than you could have gotten had you priced it well to begin with.
Trish Sohle
Coldwell Banker Heritage House Realtors
Durango, CO
970-317-1812... more
Hi Carol,
I'm also unsure what comments you are referring to. You can use the 'report' link to bring them to our attention for review. If you have difficulty doing that, please feel free to email me via my profile, and please include a link to the page where the comments in question are shown.
Thank you,
Emily Erekuff
Community Moderator... more
Average price per square foot for Durango CO was $209, an increase of 1% compared to the same period last year. The median sales price for homes in Durango CO for Oct 10 to Dec 10 was $340,000 based on
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How do you know a really good real estateย deal when you see one? That's easy, check comps and see what other things are selling for. That's what I do, sell real estate in Durango. I know when it's a good
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Average price per square foot for Durango CO was $209, an increase of 1% compared to the same period last year. The median sales price for homes in Durango CO for Oct 10 to Dec 10 was $340,000 based on
Read more
This is what has happened across the country. Foreclosures have been held in abeyance by many lenders for a variety of reasons. However, there are literally millions of homeowners who have been late on their payments, and some who aren't making payments on their mortgages. The lenders, at their discretion, could institute foreclosure the moment the owner breaches their responsibilities, e.g., delayed payments or missed payments is just cause. However, in order to prevent the market from further collapse, the government stepped in with special incentives and stipulations imposed on lenders to "help" homeowners stay in their homes. This put a damper on foreclosures, but they were still on the banks books. If you're starting to see a rekindling of that trend, it isn't a demonstration of a new collapse, but rather a continuation of what has, prior to this, been held off. Lenders are now starting to take drastic action, and you're going to see a lot more of this -- either in foreclosures or in short sales in the coming months.... more
Thanks for the response. Its a Va loan and the origination is 1 percent with an interest rate of 5.25 which seems to high. Im going to shop around to make sure the rate is comperable right now.... more