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Colorado Springs Realtor - Cherise Selley - Coping With the Markets

By
Real Estate Broker/Owner with Selley Group Real Estate, LLC

 

Regardless of price range in the Colorado Springs Real Estate market, sellers have the brutal task of coping with the inevitable losses when trying to effectively sell their residential properties.

Obviously, the higher the price ranges the bigger the fall in terms of home value.  So how do I advise these individuals who have lofty expectations about the value of their home?

The answers are not easy.  As a Colorado Springs Realtor, I educate my sellers about the numbers of the Colorado Springs Real Estate market, and then I share my knowledge about what’s behind the numbers. 

People seem to cope much easier once they hear the truth about the financials, then I provide the vision about how to move forward in the home-selling process.  Crushed emotions give way to following through with the mechanical side of doing the business.

Of course, I’m very sensitive about the losses for my sellers, but as Colorado Springs Realtors, we also have to provide strength of leadership to let our seller know that losses do not define who they are and what they are supposed to do in this life…

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Cherise!  That's why Colorado Springs buyers and sellers prefer to use YOU!  You know the market and can provide the details that they need to make an informed decision. 

Have a great weekend and happy selling!

Jan 23, 2010 02:12 AM
Gloria Laughton Allston
COLDWELL BANKER RESIDENTIAL BROKERAGE - Princeton, NJ
Realtor(NJ)/Broker(NY)

You are so right Cherise.  Often I find that sellers who bought during the "boom" seem to take the loss in value as a personal failing on their part because they paid so much and now can't realize the dream of walking away with a profit.  If is a difficult time for sellers.

Jan 23, 2010 02:13 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Debe...Likewise, hope your weekend is filled with timely rest and good fortune...Cherise

Jan 23, 2010 02:31 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Gloria...Over time, mindsets will change as we continue to guide our clientele appropriately...Thanks for visiting...Cherise

Jan 23, 2010 02:33 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Cherise, I have experienced BRUTAL Texas buyers markets around here and sustained losses myself with real estate, so I can empathsize with people. Just say the market does not lie, and the market is what the maket is. Grow up. Get over it. Move on in life. Sometimes you get a much sweeter deal next on the buy side to offset the sell side. Big Girl panties to wear and Big Boy boxers for each gender to wear. Be tough but laugh at life along the way. It just is what it is. What are you going to do? Wait out the market to recover for another 20 years?

Jan 23, 2010 02:53 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Gary...you do get the sweeter deal on the buy side...and I agree, you can't gauge your entire life on when the market will recover to your satisfaction...That will take a very long time...Cherise

Jan 23, 2010 03:03 AM
Tony Cordi
Tony Cordi, Broker (Beachtime Realty) - Hermosa Beach, CA

Just a couple of thoughts.  In this area, homes are selling at 2004 prices for the most part.  This means that the only folks losing money are those that have made their purchases since then.  Here, this is only 20 percent of the total of all homeowners.  So a full 80 percent of homeowners would actually realize a gain.  Secondly, our high end is actually doing the best with respect to regaining the losses from their peaks back in '06 or '07.  They are only off by about 10 percent from their highs.

 

Good luck to you...

Jan 23, 2010 03:36 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Tony...Appreciate your views...Homes here are selling at 2002/2003 prices for the most part...Our higher end is taking the biggest hit...Currently, we have a 13-year inventory for homes that are valued over 1 million dollars...For many to sell, they have to come down into the mid-700's...and for many, they built for at least 800 (+)...However, as the lower inventory continues to reduce, as it is, I expect to see an increase in sales at the higher ends eventually...Thanks for your insights...Cherise

Jan 23, 2010 04:15 AM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO
SelectAnn.com

Cherise,

13 year inventory?  WOW!  I wish you good luck with your sales and dealing with your sellers.

Ann Hayden in Wildwood, MO

Jan 24, 2010 09:47 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Ann...We're very fortunate with this price range regarding our brokerage...Thank goodness...Cherise

Jan 24, 2010 11:28 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Sometimes all we can do is start with the facts and the truth.  It is a great starting point.

Jan 28, 2010 12:27 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Jim...i agree...honesty is the best policy...Cherise

Jan 28, 2010 01:36 AM