Who’s the non-resort buyer?
If I don’t have a home in the resort areas of Vail Valley, where will my buyer come from? I have a nice home in Eagle County, but it is definitely not in one of our ski resorts. I figure my best time to put it on the market is late June, when most of the area school years are completed and families may be thinking about moving within the valley.
I don’t want to wait too long, but I also don’t want to have it sitting on the market if there aren’t any buyers looking right now. Am I right, that families waiting for the school year to end are my best bet? What other buyers are there for non-resort properties?
Dear Just One Prospect Seller,
Luckily for me, and my fellow Realtors in the valley, you are not correct. Yes, there are some families that set their timing for a move with the ending of the school year, but most of those are working on selling and buying prior to the actual end of the term. More importantly, there are many more reasons our clients are buying at this time of year in the non-resort areas, as you would call them. I do have to mention living in Eagle County on a golf course, small or large acreage or even a property with view, feels like living in a resort to a large segment of the population coming from big-city living.
Now, on to the other reasons we have many buyers looking right now:
• Rentals in this valley are very hard to find and sometimes as expensive as buying, so renters turn into first-time homebuyers.
• Interest rates are still at a low price, making properties, in general, amazingly affordable.
• Changing family sizes due to marriage or divorce, children being born or moving out or back.
• Aging parents moving in or necessitating the children to move closer to them.
• Job changes that bring new buyers in or out.
• Buyers who had lost their homes around 2009 and now, after 7 years have passed, have credit that will allow them to buy again.
• Investors who can once again make sense of buying rentals with the increased rent income and rising equity.
• Second home owners that have had small ski condos and now can buy something larger because they are retiring and moving to our area full time.
There are many, many more scenarios that we see all the time. I have learned to take a broad approach to marketing just because we hear new reasons for moving quite frequently. Therefore, my advice stays the same — if you want to sell, then find a great Realtor and let them put your property up for sale just as soon as they can complete their marketing packet that will give you the best exposure. If you wait until late June, not only might you miss the perfect buyer who is looking now, but the competition of more homes coming on the market that are using your end of school year theory will not be an advantage to you. Best of luck with your decision.
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear. Harned has been selling real estate in Eagle County for 27 years, is a past chairman of the Vail Board of Realtors, past Realtor of the Year, past director on the Great Outdoors Colorado Board and a member of the Luxury and Land Institutes. Contact Harned with real estate questions at Joan@TeamBlackBear.com, 970-337-7777 and http://www.SkiAndTeeHomes.com.