Two Cents - Insights Brought to you by Vectra Bank

Selling a Colorado home in winter

Colorado winters can be beautiful and exciting, from the snow falling on the mountains during a ski run to the open prairies glistening at night. However, if you are among the state's residents looking to sell their home, the winter can be stressful and challenging. Many people have found that it is more difficult to sell property during these cold months than it is during the rest of the year. For that reason, a lot of people don't even bother trying.

According to data from the Pikes Peak Association of Realtors - which covers real estate in and around Colorado Springs - fewer homes are put on the market during the winter because of poor selling conditions. Over the past 12 months, the PPAR stated that February 2015 had the fewest homes for sale, with 2,426 properties. December 2014 and January and March of 2015 were the only other months listed where there were fewer than 2,600 homes for sale. By comparison, in June, July, August and September 2015, there were more than 3,000 homes listed in each month.

However, those that do try to sell during this time are usually successful. Redfin Research found that homeowners selling in the winter raised the chances of success by 9 percent, and that homes listed in winter months were sold on average one week faster than those in other months. In Denver, sellers had a 77 percent chance of selling a home within six months of a for-sale sign going up, compared to 59 percent in the summer and spring, Redfin stated.

Because of job obligations or other life events, some Coloradans are forced to sell their homes during the winter. If you're in this group, do not be discouraged. In fact, there are ways to make a home more appealing and help encourage sales in the winter.

Make the house look its best
Interested homebuyers will be checking out all of the standard things anyone would regardless of the season, like the size of the kitchen and how many bedrooms a home has. But in the winter - especially a frigid one like Colorado is used to - they also will want to see how the home holds up under difficult conditions. That's why it is vital to examine your home before putting it on the market. Plug any leaks, tighten door screws, fill in wall cracks, and repair plumbing problems before inviting people into your home. Making the house look the best it can will help it sell faster.

Realtor.com also recommended making the inside of a home look especially cozy and warm during the winter. Lay out blankets, offer guests hot cocoa and shovel a clear path for people walking up to the front door. This makes the house more inviting to potential buyers.

In home postings on real estate websites, make sure to highlight the upgrades you've made to the home. Also show pictures of the property both in the summer and winter, so that interested buyers have a good idea of what they are checking out.

For more information about selling your Colorado home, talk to a banking professional at Vectra Bank.  

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