The National Association of Realtors has agreed to a settlement of a lawsuit involving commissions in real estate transactions. The two major parts of the settlement are that sellers or their agents cannot offer compensation to buyer’s brokers within multiple listing services (MLSs) after August 17th. Additionally, after that date, Buyer’s brokers must execute a written agreement with their … Continue reading...
HIGH DEMAND AND LOW INVENTORY RESULTS IN HIGHER PRICES
The year-end statistics for La Plata County were released recently; prices increased sharply in all La Plata County geographical areas and property categories. Continued high demand coupled with low inventories has driven up median property values well over double digits in every category of homes. The overall median price for La Plata County increased by 21.4% from $449,000 to $545,000, with the … Continue reading...
TODAY’S BUYERS ARE NOT MAKING ADJUSTMENTS FOR FLAWS
The value of a particular home or real estate should be adjusted either positively or negatively based on how the property compares to other similar properties that have recently sold. Residential property appraisals are based on this concept; the appraiser makes positive and negative dollar adjustments to the sales prices of the similar homes to determine what the subject property is worth; the … Continue reading...
La Plata County Statistics Through Three Quarters My thoughts and Observations
The statistics comparing the prices from the first three quarters of 2020 to 2021 were released recently. Overall, median prices of homes in the entire county increased almost 25% from $422,500 to $527,100, with the number of sales increasing 25% from 465 to 643. If there were more homes available for sale this year, the number of sales would have been even higher with the price percentage … Continue reading...
HOW TO GET YOUR OFFER ACCEPTED IN MUTIPLE OFFER SITUATIONS
Multiple offers are common in the current market. Making an offer substantially over the asking price and/or market value is an option; however, there are other factors in your offer that can you increase your chance of having your offer accepted. The two main considerations for a seller reviewing multiple offers are the net proceeds they will receive if the contract closes and the probability … Continue reading...
