How Much is My Home Worth in Colorado Springs?

How Much is My Home Worth in Colorado Springs?

I don't know; I haven't seen your house yet!  The number one question on most sellers’ minds when preparing to sell their Colorado Springs home is “how much do you think my house will sell for?” 

Today most sellers know that value has very little to do with what they OWE on their property, but many sellers don’t realize that their home’s value may be significantly less than what they paid for their property! 

Whenever we get the call to take a listing it is inevitable that a potential seller will ask, “What do you think my house is worth?”  What they’re really asking is, “How much money do you think I will NET by selling my house?”

Our answer is always the same:  “I don’t know; I haven’t seen your house yet!”

Pricing in a home for sale in Colorado Springs is not an exact science.  To come up with a reasonable range of a property’s potential selling price we must study what’s sold within the general neighborhood of the subject property, that are the same floor plan as the subject property, with similar finished finished square feet as the property, with the same number of garage spaces, and with similar upgrades, features and amenities.  In the thousands of properties we tour every year in our business, we have never found two properties with the same floor plan that are exactly alike! 

That is why we say, “I don’t know; I haven’t seen your house yet” even to people we know well.  The Colorado Springs real estate market changes constantly. More buyers in a market drive up sales prices.   More distressed properties in a market drive down values. We need to know the market, know what’s sold in that market, see the house we will be listing, and tour the home’s competition – those highly comparable neighborhood properties that are also on the market.

When you’re thinking about selling a home in Colorado Springs or anywhere else for that matter, don’t ask your agent what they think you’re home is worth.  Rather, ask them to show you the most comparable properties to yours that sold in the three to six months prior to putting your house on the market. 

Then, ask them to show you homes in your area – actively being marketed -- that are as close to your home’s floor plan and finished square feet as possible.   Then a good agent will probably be able to give you a range of prices that your home may sell for (barring any dramatic changes in the market during the listing period!).

Remember, setting the price on a home in Colorado Springs is a task shared by the REALTOR and the owner.  Realtors cannot tell you what your home is worth without seeing it.  Together, we cannot tell you what your home is worth without comparing it to what a willing buyer has paid for the same, exact house, in the same exact condition, with the same lot size, features, upgrades and amenities.

Call us to receive a range for the value of your home or visit What is my home worth?