photo credit: jiazi

photo credit: TheTruthAbout…

photo credit: ripplestone garden

Also, do NOT price your home at a certain rate assuming that buyers will offer a lower amount anyway. Again, that is not the same as fair market value.

Stop insisting that your house is better than “everyone else’s” (It’s not. I assure you.) so it can be priced higher than everyone else’s. Not in this market it can’t.

The sad truth is with the market we’re in, and the lack of credit that is available, you don’t have to take my word on all of these things. You can price your home too high and find out for yourself what happens when you do that.

I know of an economist who jokes about his neighbors whose home has been for sale for a year - only he insists that technically their home really isn’t for sale because it’s priced way above market value - and just sits there with a useless For Sale sign in the yard.

Right now buyers not only have their choice of inventory they have the gift of time. I’ve talked to numerous people whose lease doesn’t expire until next spring and summer but are looking now “just in case” they find THE home. So far, none of them have, so they continue to wait until credit becomes more available and sellers get more realistic about their home prices.

Keep in mind that sometimes it’s just a matter of a few thousand dollars so pricing your home correctly to start with (if you truly want to sell it at this time) is crucial. If you’re unwilling to price it correctly then why not wait until the credit and housing market picks up again?

photo credit: lrargerich

To continue the madness here’s the Sneezing Panda vid (you kind of need to see the South Park episode to enjoy it to its fullest extent)

I admit I laughed so hard after seeing this I nearly sneezed myself.

According to the MLS, for September 2008, in the Broomfield area, 77 single family homes sold, while 17 condos sold. The most accurate number to compare it with is September 2007, where again 77 homes sold but only 12 condos sold.

The average sale price for a single family home in Sept. 2008 in Broomfield was $333,217 and for Sept. 2007 it was $312,505. The average sale price for a condo in Sept. 2008 in Broomfield was $220,677 and for Sept. 2007 it was $182,000. The average sale price for a single family home for the first 9 months of the year LAST year was $336,828 and THIS year it is $341,900. This is why I continue to stress that all real estate is local and the nationwide figures shouldn’t indicate a whole lot to those of us here in Broomfield except in the sense of how folks perceive the overall economy.

The news trumpeted the “fact” that “1 in 475 U.S. homes” received foreclosure notices in September. If this were spread out evenly we might be in serious trouble but it’s not. It’s concentrated in certain pockets. According to RealtyTrac, 6 states account for more than 60% of foreclosure activity in the 3rd Quarter. California contributed to more than a quarter of the nations foreclosure filings alone. These are extremely important details that the media and the politicians like to gloss over or leave out entirely and it’s significant because it negatively affects your property values due largely to people’s perception alone and not the complete data.

So what’s my point to all this? Oh who knows, I just like to rant… My point is if you’re thinking of buying a home, and you have the money for a down payment, and you understand all the costs involved with buying a home, don’t hold off because you think the economy is going to crash so badly homes will only be worth pennies on the dollar (especially in Broomfield!). Buy a home, plan to stay there for a while, take care of it, don’t use your home like an ATM and borrow against all the equity to buy a sports car and I guarantee you’ll be happy you did.

They can help arrange transportation for you through RTD and its “Freedom to Ride” program, they help serve free lunches Monday-Friday at Lakeshore, they also have support groups and all sorts of classes and lectures.

If you’re new to Broomfield or the Senior Resource Center you can show up on the first Wednesday of the month for a coffee and introduction at 9 a.m.

On November 6th, they’ll be hosting a fair that highlights the resources of the Senior Center as well as other places in Broomfield. They’ll also be providing breakfast and then lunch for a nominal charge. It’s from 9:30 a.m. - 1 p.m. at the Broomfield Community Center at 280 Lamar St.

Search the Denver area MLS here.

Looking for a ranch home in the Denver area?

photo credit: roland

Try it. You’ll like it!