Real Estate Myths

Debunking Common Real Estate Myths

Real estate is an industry that, while most people will be involved in it at some point, there is a lot of misinformation in the general public. In this post we will be debunking some of the most common real estate myths:

Real Estate Myths

  • Price Higher Than You Expect To Get – Contrary to what many believe, listing your home at too high a price may actually net you less money! Many people are wary of homes that have been on the market more than 3 weeks, so listing your home too high and letting it sit on the market is not the best plan!
  • Renovate Before You Sell – Major renovations are not always the best plan when trying to raise your home value. Prospective buyers may not share your taste, so you’re better off just fixing small things and leaving the big renovations to the next owner! There are many myths about renovating before you sell. To see the renovations that are worth taking on, see our blog post on the topic here!
  • The Market Will Go Up – Home values have been going up recently, and many people have already forgotten the recent recession. They think the market just goes up, without considering how it could plummet again in the future. It happened in the mid-70s, early 80s, early 90s, and again in 2008. This is a good thing to consider when purchasing a home. How will you and your home be affected if this happens again?
  • Get Pre-Approved After Finding Your Home – One of the most common myths in real estate is that buyers don’t need to be pre-approved until the have found their home. This is simply not true and can be a big mistake! Pre-approval should be the first step in your house-hunting adventure. It can be devastating for buyers to find a home, make an offer, and have it accepted, only to find out they aren’t approved for a loan for the home. Get pre-approved first!
  • Open Houses Sell Homes – Many sellers love the idea of having their home open every weekend for people to walk through. A common myth in real estate is that open houses sell a lot of homes. While this can be true in some areas, the National Association Of Realtors tells us that only 2% of all homes are sold are a result of an open house. So while an open house can provide good exposure, it probably won’t sell your home directly!

We hope you were able to learn something new from this blog post! Real estate can be a complicated industry, so we try to break things down wherever we can to inform current and future clients! If you would like to talk to one of the NextHomies in our office, give us a call at (970) 507-8655! To see NextHome Rocky Mountain Rental’s current featured listings, click here! We want to get you into your Next Home!

Congratulations!

231 Tiffany is SOLD!

Big congratulations to Chris and Mariana on the sale of their home! 231 Tiffany Place sold for $585,000 and features a fully finished basement and incredible views of Squaretop Mountain. The Letchfords have their home at 1551 Cattle Trail listed with us as well. See this beautiful ranch home here!

Sold!
Photo: 231 Tiffany Place
Sold!
Photo: 1551 Cattle Trail Place

Thank you Mariana & Chris for choosing NextHome Rocky Mountain Realty & Rentals to list your Pagosa Springs real estate! We appreciate your business and friendship! If you would also like to work with NextHome RMR, give us a call at (970) 507-8655.

Crazy Colorado Weather

Snow In September!

Colorado is having trouble making up it’s mind on the weather this month! The beginning of the month held several 90F+ days and forest fires throughout the state. September 8th however, we experienced a temperature drop of nearly 50 degrees and enough rain and snow to leave the ground muddy! Wolf Creek Pass got 13 inches of snow, A full 13 days before the solstice!

Snow In September
Wolf Creek Ski Area

This moisture is greatly appreciated, even if it’s a little early! Visit our website to view property available for sale in this winter wonderland!

 

New Long Term Rental

99 Carefree Rental

We have a new long-term rental available! Located in central Pagosa Springs, this ranch style home is perfect for you to keep warm this winter.

99 Carefree Long Term Rental

You will have access to all Pagosa Lakes amenities. This includes access to the Rec. Center (with indoor saltwater pool, weight room, and exercise classes,) as well as the stocked fishing lakes!  This home is available now, with the lease ending on June 30th, 2021. Please feel free to contact us for more information on this great rental.