Fruit & Wine Real Estate

Tammy Craig

This post continues the lessons of a Professional Realtor now in the position of being a seller.  It is a position every Realtor needs to experience to add their toolbox.  The lesson of the moment?  The pause once the decision is made.  I know it takes the seller’s about a year from the time they start thinking about selling until the home goes on the market.  Logically, I know this.  But in reality, it is a gut-wrenching thing.

We both know we are selling, we are moving toward getting ready.  I rented the storage unit, and we have passed down the family treasures (more about family treasures later).  We hired a professional cleaner to help with light fixtures and baseboards.  We are working on the little chores one puts off for another time.  But, I find we are on the great pause.

We love this house.  It is the pinnacle of a life of dreams.  Tom was an older man of 23 years when we met, I was a woman of the world at 20.  He introduced me to John Prine, I introduced him to stability.  He and I listened to our favorite John Prine song on a record player sitting on cinder blocks while playing spades on a card table in our rented trailer house.  We laughed a lot and drank Squirt and Vodka.  We sang along with “blow up your tv, move to the country, eat a lot of peaches”.  Our family has fulfilled that dream and have indeed consumed copious amounts of peaches.  I see now I totally missed the song title “Spanish Pipedream”.

This morning I watched the Purple Robe tree we planted sway in the breeze from a window we replaced.

Because I am a professional Realtor, I must disclose there is no sign on our home at the seller’s request (my husband), the price decided upon is $449000, and I will work with coop agents.  Feel free to call me if you have someone looking for 4 bed 3 baths 3 acres Spanish Pipedream.

I also took pictures and will start the documents today with the plan to be ready soon, real soon.  But we are in a bittersweet pause for now.

Tammy Craig
Managing Broker/Owner

Why you need a CMA from a real estate professional

Each area demographic is different. Palisade, Colorado is no exception. What is a CMA exactly? Real Estate professionals pull together a report with active listings, under contract listings, and sold listings, usually based over the course of 6 months. In the Palisade area it may be required to go back 1 year to get enough data to provide value information for your property. It is easy to get an idea of value in a subdivision, but once the subject property steps in the world of “unique” property it requires a strong sense of the local market.
Getting a market analysis from a local Real Estate professionals allows you to interview different agents as well so once you are ready to list you already have your realtor in mind. The trick to any CMA is the Real Estate professional’s knowledge of the area.
Understand these “comps” will have realtor fees built into the price. The following information is directly from the National Association of realtors “89 percent of sellers sold with the assistance of a real estate agent, up slightly from 88 percent the last three years, and only 8 percent (down from 9 percent) were FSBO sales”.
Remember, when your Realtor gives you a CMA report the numbers have realtor fees built into the price. Try to resist the urge to price your home at CMA price + Realtor fees. And remember, consider your time frame when pricing. Do you want your property to sit? Or, do you want it to sell? Less time on the market means fewer monthly bills on the property which means more money for you.

Tammy Craig

Broker/Owner

To Remodel and Stay Put, or Not to Remodel and Move?

The answer is as unique as the home owner.

Are you already the nicest home in your area? If so you may want to put the home on the market and move if you have outgrown your home.   You don’t want to spend more on your home than you can get for your area.

Out-pricing your area with updates is not usually the case with Palisade properties unless they’re located in a newer subdivision.  You don’t want 3000 sq ft when the average for your subdivision is 1800 sq ft.  Palisade is a desirable area and there is a need for updated/newer/new homes so if Palisade is where you want to be, any update is welcome and saleable.

Many of our brokerage’s buyers are looking for homes that don’t need repairs. We take calls all the time from Grand Junction agents looking for properties to sell their buyers in the Palisade area that have been updated.

In our current market in Palisade the inventory of all homes for sale — updated or not — is low.  Now appears to be a good time to sell, no matter the condition.

Will I get my money back?

Statistics show you cannot expect a full return on the money you put into a home. Average yearly maintenance is typically approx. 3% of the purchase price per year, to keep the home in the condition in which you purchased it.  Once the home is updated, the market either increases or decreases in an organic way based on demand.  Your return from a remodel comes in your ability to outshine the competition when you decide to list.   If you are in tip-top shape you can list at the top of the market and sell quickly. You may get a dollar-for-dollar return, especially in Palisade, but expect about 50% on average.

What are buyers looking for?

The largest buyer pool is the move-in ready market.  These buyers love updated kitchens, pretty baths, new floors and paint; they like garages and storage and a home with good flow; they like appealing yards and a pleasant entry.  For the best result when selling, finish the projects that you have started as any unfinished business in your home will be harshly assessed by the general public. It will be much cheaper for you to finish them in the long run.

In Palisade there are a lot of septic systems. Get it updated if the system is over 25 years old or if the grass is getting greener over the area.

If you own acreage get a survey beforehand so a new buyer can see where their property boundary is located.

When updating for resale always remember people buy with their eye. Consult designers for complementary colors, don’t go rogue. Also, as with clothing fashion, trendy is cool but classic style is forever. Think about wood floors, mouldings, earth tone colors, and comfortable spaces with good flow.  Make additions that compliment the exterior of the home.

This brings me to the main goal, home satisfaction. Start with updates that suit you. If you plan to live in your home for 3 to 5 more years,  make yourself comfortable. If you need an addition, build it. If you want new cabinets, put them in. If you love your home, so will others when the time comes to sell. Choose classic styles, update electrical and plumbing as needed, and enjoy your property.

When the time comes to sell and you are shopping for agents, remember, Independent Brokers like Fruit and Wine Real Estate sell the most properties. So call us…we’d love to help you!