When you contact a real estate agent to help find your next home, you need to consider how you want them to represent you. Of course you want them to help you find the perfect home, and you want them to be fair and honest. But what else should you be looking for? In Colorado, a Real Estate Agent can have the following legal relationships with a buyer: customer, transaction broker or Buyers Agent or Broker. As a Customer, the agent owes 100% of their loyalty to the Seller. They can show a property to you, but their job is to represent the interests of the Seller. This is the relationship that led to the old saying "Buyer Beware". As a Transaction Broker the agent is a neutral party. They can assist you with finding a home and have the obligation to be fair and honest. They also are bound to keep the financial motivations of both the buyer and seller confidential. They can help facilitate the entire transaction but don't represent either party. In sports you could liken them to a referee! The Buyer Agent or Broker is the Coach! They represent you and have the obligation to look out for your best interests. They can assist you with advice in negotiating and owe a fiduciary responsibility to you as the buyer. Generally you also pledge your loyalty to them, as your broker and agree to buy exclusively through them for a certain period of time in a certain area (Provided they are doing a good job for you). Before you get into any serious negotiations, Colorado Real Estate Agents should discuss this with you and enter into the agreement that is mutually agreeable with you and them.
The inventory of houses in Pueblo West, Colorado continues to shrink! As of March 9, 2017 there are 59 houses that are actively listed for sale in Pueblo West, in the Pueblo Multiple Listing Service. The average price is $377,000 and the median is $289,000. There are only 6 houses for sale below $200,000 and 16 below $250,000. If you're thinking of selling it might be a good time to jump in. Call us for a free market analysis of your property.
As of February 6, 2017 there are 81 houses listed for sale in Pueblo West. That is a 1.5 month supply at current sales rates. Anything less than 3 months is a sellers’ market. The average listing price is $347,900 & median is $284,000. Last year’s average sales price was $216,000 so sellers & buyers really have different expectations! The price range for current listings is $149,000-$1,999,990. Only 8 listings are under $200,000. During 2016, there were 828 NEW LISTINGS, so 156 or 19% went unsold.
Here's a quick update on the inventory of Pueblo West houses for sale here at the end of December 2016. Right now there are 110 houses on the market in Pueblo West or about a 2 month supply. That is about what we've been averaging over the last half of 2016. For single family site built homes, the price range is from $149,900 to $1,990,000. There are 19 houses listed under $200,000. If you're thinking about selling there is a demand for more houses to come on the market. Call us to find out what yours might sell for. We'd be happy to do a market analysis for you.
If you're thinking about putting your home on the market, you may wonder how you go about determining what the price shoud be. Anne & Rich Selle use a detailed process for making the best estimate possible. First we look at your home to see it's condition and all of the amenities it has. We then go back in our Multiple Listing System and find the most comparable properties that have sold in the past 6 months. We then go through each one to make adjustments to the price for all the things that are different from your home. For example if yours has a 3 car garage and the comp has that a two we would add about $3500 to the sales price to compensate for that difference. Appraisers have come up with lists of adjustments for all the features of a home that may vary & these are what we use. These adjustments represent what a buyer in this market will pay for that particular item. Often times what a buyer will pay for an addition you have made may be less that the cost of the improvement. If you're thinking of doing some work, we are always happy to consult with you regarding the return on your investment.
As of today there are 108 homes on the market ranging from $73,000 to $1,999,900. At the current sales rate, that is a little under 2 months supply. A great time for sellers, however buyers still have a decent selection.
I'm Rich Selle an active Realtor with RE/MAX Pueblo West. I've got 30 plus years real estate sales experience and I'll try to give you some insights about our market.