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A New Look for an Iconic Brand


The most iconic brand in real estate has a new look. A refreshed RE/MAX wordmark and logo were revealed in August 2017 with the ultimate goal of helping the real estate network's 115,000 agents in more than 100 countries and territories grow their businesses in the digital world.

For the first time in 44 years, the RE/MAX brand has been updated to be brighter, more modern and more appealing to today's home buyers and sellers.

Summit County Real Estate Update

The Market: Residential prices are up in every resort town in Summit County, Colorado! On average they are up 17% (that's $100,000 more than in 2016). Today the average sold price for a residential property in the county is just over $700,000! The home average sold price is approaching 1.2 million with the average condo coming in at about $425,000.

Inventory is still extremely low and demand is high. The luxury market ($1,000,000+ sales) is reaping the benefit of prices moving upward with an increase in sales of +49%!

And here's an interesting tidbit: In 1994 almost 90% of all sales were under $250,000 and in 2017 a little over 90% of all sales were over $250,000. The majority of 2017's sales in Summit County were over $500,000.

Polishing the Crystal Ball: Real Estate in 2018
 
Whether you're planning to become a home buyer in 2018 or hoping to sell your current property, it can be hard to forecast the way the real estate market will go. Here are some trend predictions, gathered from several sources, which may dominate in 2018:

A recent report from the Urban Land Institute and PricewaterhouseCoopers brings good news: the usual boom-and-bust cycle isn't behaving typically, so what could have been a bust may be a gentle downturn instead.

Smart Cities Dive, which highlighted elements of the Urban Land Institute/PWC report, suggests the real estate industry has begun to take an interest in a new generation.

This is not to detract from the importance of millennials who, incidentally, are expected to become more interested in purchasing a home in 2018 than in previous years. A new generation, "Gen Z," is showing an even stronger interest in becoming homeowners at an earlier age than their millennial counterparts. Born after 1995, Gen Zers are enthusiastic about fixer-uppers and do-it-yourself projects and may lead the way in gentrifying distressed urban neighborhoods.

Notes Smart Cities Dive: "A number of other changes potentially arriving in 2018 - such as tax reform and interest rate hikes - also could affect the real estate market and cities' development. However, none of the known factors appear drastic enough to derail the market's long march upwards and instead send it into a nosedive."

How to Comprehend "Comps"
 
Whether you are buying or selling a home, chances are you will hear a lot about "comps" or comparison values.  Comps are comparisons between your property and other similar properties that have recently sold in your neighborhood. Age, location, amenities, and the general condition of the home are all used to compare your property with others in the same general vicinity in order to establish a listing price that will reap maximum financial reward in the shortest amount of time.

Do Not Make This Mistake

Many sellers mistakenly look only at the asking price of homes in the immediate vicinity when trying to establish a listing price. Actual sales data is a much more reliable indicator of value, since some sellers can be overly optimistic when it comes to setting an asking price. Buyers also benefit from obtaining accurate comp data in order to determine what amenities, upgrades and other items are included. Even homes that look exactly the same in terms of square footage or floor plans may have substantial upgrades or extras that dramatically impact the price of the home. Age, condition, maintenance, upgrades, amenities, landscaping, appliances, energy efficiency, attractiveness and even whether or not you have a corner lot can make a tremendous difference in the desirability and price of a home.

Get the Most Accurate Data

Insist upon accurate and up-to-date comps when buying or selling a home. Many popular websites, such as Zillow and Zestimate, use estimates based upon self-reported data or generalized insurance replacement rates. While these may be useful for rough guidelines, they may cost you tens of thousands of dollars when buying or selling a home.

If you are interested in buying or selling a single family home, townhouse or condo anywhere in Summit County, I will provide you with realistic comps that will help you make the best decision.

Wondering How Much Your Home Is Worth?
 

How has the price of your home changed in today’s market? How much are other homes in your neighborhood selling for?

If you’re wondering about prices in your area, or thinking of selling your home, I can help.

Just call my office at 800-289-7005 or email me at kelli@kellisells.com for a professional price analysis. There is absolutely no obligation.

I’ll give you honest feedback about the value of your home. And I’ll also give you the inside scoop on what’s happening in the housing market in Breckenridge, Dillon, Frisco, Silverthorne and Keystone.


 
 
Kelli Bennett
 
 
 
 
 
Company
 
January 9. Summit Film Society. Backstage Theater. 121 S. Ridge St.
January 10-13. Ullr Fest. Celebration of snow, tradition and fun. More info at 
http://www.gobreck.com/events/ullr-fest

January 22-29. International Snow Sculpture Championships
January 26-February 17. Forbidden Broadway. Backstage Theater. 121 S. Ridge St.


Thinking of Buying a Home? Get My Free Guide
Buying a home is a complex process with many factors to consider.

Prepare for the decisions you'll need to make along the way by requesting my free report, "10 Easy Steps to Buying a Home."
Just reply to this email and I'll send it right out to you.

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Ask the Agent: This Month's Question
What Should I Know About Relocating for My Job?

Familiarize yourself with the cost of living at the new location and verify that the company is offering you a competitive salary for the new market, not your current one.

You may not be familiar with neighborhoods in your new city. Contact a local real estate agent for help.

Moving involves many expenses. It's important to realize you may need to dip into savings. Even if your company is paying many of the costs, this likely won't cover everything. Even minor expenses add up quickly.

Streamline the relocation process. Sell items that aren't worth the cost of transporting. Ensure all former utility, bank, and other accounts are settled.
This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale.
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