Selling

This varies widely by market conditions and individual circumstances.  Many regions do experience a ‘spring rush’, however Santa Fe features many fall art markets and a winter ski season that make it a destination at all times of year.  Working with a broker who knows how to creatively market your home at any time means far more than waiting for a particular season to sell.

There are many indicators to consider, including current inventory, average days on market, average list prices, average list price to sales price ratios, interest rate fluctuations, the list goes on.  We will have an in-depth discussion considering all of these factors and more, to make sure we approach your home sale in the way that works best for you.

It is advantageous to gather your documents and visually prepare your home before putting it on the market.  You never get a second chance to make a first impression.  Working with a local expert (hopefully us) gives you the best chance for success, having your home sell quickly and at the price you want.

Home inspections can make or break a sale.  While not a requirement, a pre-inspection is a great way to learn of any existing or potential issues in advance.  You may then choose to remedy them, or to price your home with this information in mind.  Knowledge is power, and full awareness of your home’s condition will work in your favor when negotiating with interested buyers.

We are required by law to disclose all known adverse material facts about your home.  It is always best to be honest and upfront, and it is ideal to fix any known defects before your home goes on the market.  When preparing for listing, think of and disclose everything you would want to know if you were in the buyer’s position.  On the bright side, you can also include positive information if you are inclined.  Have you been regular with your maintenance?  Have you replaced any major systems and appliances?  It can be advantageous to highlight these favorable details in the property disclosure form.

I will perform a CMA, or comparative market analysis, where I consider similar homes, or ‘comparables,’ that have recently sold in order to determine an appropriate price range.  I will factor in exterior features such as stucco, window, and roof condition, as well as interior features such as square footage, number of bedrooms and bathrooms, flooring, and more.  I will also consider the finishes of your home.  When was the kitchen last updated?  Are the countertops quartz or marble?  What type of appliances?  Comparing these homes and features with location and current market conditions will help us arrive at a competitive market price.

No.  Real estate websites offering estimates of value use generalized formulas and calculations that are not specific to any particular region.  Location is everything, and working with a broker who specializes in your area will result in a far more accurate market value for your home.  Also, New Mexico is a non-disclosure state, and websites do not know how much any homes have sold for.

The assessed value is the ‘tax value’ set by the local tax assessor to determine your property taxes.  It is not the same as the appraised or market value and should not be used to determine the listing price of your home.

A list price is our determined fair market value that we price your home at on the market.  The sale price is the amount you and a buyer agree upon in order to transfer ownership of the property.  The sale price may be more or less than the list price depending on market conditions and specific offers you receive.

Not necessarily.  This plan can backfire, as today’s buyers have a world of knowledge at their fingertips, and overpricing your home can mean that buyers will tend not to look at it.  This may cause your home to be on the market longer than necessary, which could then result in offers lower than would have originally been made had the home been priced appropriately to begin with.  The longer your home sits on the market, the more it develops a perceived ‘stigma’.  People assume there are reasons it has not yet sold.

Furthermore, even if a buyer agrees to an inflated price, if the appraisal comes in significantly lower, this discrepancy can impact the buyer’s ability to secure their loan.  Pricing your home at its fair market value is generally the best approach.

This varies, with an average of 6-12 months.  We will discuss your home and circumstances to arrive at a timeline that works best for you.