Fort Collins Residential Properties
Residential real estate in Fort Collins can be a great investment or a great place to call home. Residential real estate investment properties have typically experienced good appreciation and provide cash flow. There is also a way to convert an investment property into a principal residence and reduce or even prevent capital gains tax. You just need an imaginative agent!
Prior to 2008 the average annual increase in residential sales price in Fort Collins was 6% per year. On a $300,000 house for example, that would have been $18,000 a year increase in equity. That’s like having a second job that you don’t have to go to. Recent statistics show that Fort Collins real estate has appreciated approximately 70% in the 10 years post 2008 (which includes the recovery years.)
Fort Collins is in the top 10% nationally in real estate appreciation.
Selling a Home in This Town
Listing, selling, or acquiring real estate requires certain skills. A real estate broker must be very honest with the clients when listing the property, and let the clients know what they need to do to make the property bring top dollar. Sometimes this information is difficult to hear. The biggest mistake a real estate broker and homeowner can make is overpricing a property. Even in a strong sellers’ market, an overpriced property will take much longer to sell. Essentially, the property sits on the market, until the market catches up to the price.
There is no magic wand to selling a home in Fort Collins. It just takes some hard work. It is very important that a real estate broker know how to market the property, and how to prepare the Fort Collins home for sale, to give it its best chance of selling for the optimum price. However, the work really starts after the contract is signed.
The Fort Collins real estate broker needs to understand how to pull all the pieces together to make a smooth transaction. No one likes a difficult process, and no one likes surprises at the closing! This work can include working with the property inspector, the real estate appraiser, the real estate title company, the mortgage lender, the other real estate agent, etc.
A good real estate broker earns his/her income after the contract is signed. It’s taken a village!
Buying a Home for Sale in Fort Collins
There are so many options in this growing small city. To avoid overwhelm and keep focused, a buyer’s broker must have good communication skills and a solid processes. It is essential to understand what the buyer’s motivations are, and what their criteria are for the home for sale they are dreaming about. Still, it is equally as important to show buyers a variety of properties that meet their criteria because opinions and desires change. A real estate broker who works with the buyer must be flexible and understand that a buyer does need to do some window-shopping, no matter what their initial checklists included.
A buyer needs to understand the market and become familiar with properties and prices, before making that big decision. Real estate is not a decision to be hurried or be pushed into.
At Dimensions Real Estate and Management, we understand what it takes to get a home sold, and we understand what it takes to help a buyer find the right Fort Collins property. If you are considering buying or selling any type of real estate in the Fort Collins area, we would appreciate being considered
to be your broker.
Call Ross Milliken at 970-490-1220.