Category: Cherise Selley (128)

Basically, the real estate closing is a time where there is a settlement reached between the buyer and seller of a specific real estate property. Not only is the real estate closing sometimes fraught with anxiety, but the experience also provides great joy for the parties involved with the sale of a property. In other words, there is cost involved to either purchase or sell of a property, but with this sacrifice and due diligence to perform the real estate transaction, there also usually comes a great reward.

At Selley Group Real Estate, LLC, we like to think of the real estate closing as a time of celebration, and we desire to see a “win-win” scenario for all parties involved, if this is at all possible. Regarding Colorado Springs Real Estate, an unusual phenomenon happens at the closing in the state of Colorado. On many occasions, the buyer and seller are both present at the closing table at a title company, such as Empire Title of Colorado Springs, to sign the appropriate documents, distribute all funds, and to have the deed of ownership transferred from seller to buyer. Once the buyer becomes the new homeowner, then the seller will hand over the keys of the new house to the buyer. The closing process involves many signatures on documents like loan docs, legal disclosures, tax records and more.  But the assistance from the title companies helps to make the process run very smoothly in Colorado.

Got to have this! Shawna Uehling gives an example in which the home inspection provided the type of information about the condition of the property in question to the buyer. Regarding this particular scenario, the home did not pass inspection, and the buyer decided to terminate the contract process based upon the inspection report. In a nutshell, our group of Colorado Springs Realtors highly recommends that the buyer obtain a home inspection on any properties for which he or she is under contract.

In Colorado Springs, the home inspection process usually takes between 2-3 hours to perform, and the costs of the inspection range depending upon the type of inspection being rendered. A home inspection is usually performed by a professional who inspects all the aspects of the home in question, such as the exterior, structure, walls, windows, doors, roof, garage, grounds, interior walls, ceilings, floors, stairways, closets, electrical, plumbing, heating and A/C, attic, basement/crawlspace, just to mention a few of the home items.

Simply, why take the risk of buying a home and not having it properly inspected?

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

Although Cherise Selley, Owner/Broker of Selley Group Real Estate, LLC, has had many closings over the past 20 years, it’s never tiresome for Cherise to finish out inspecting the fine details of a home before it’s closing. Normally, real estate walk-throughs are times to celebrate those moments for buyers who are excited about moving into their next home. However, it’s also very important at the walk-through to make sure that all items on the inspection resolution have been properly attended and that the home has remained in the same type of condition as when it was contracted on by the buyer. In most cases, the walk-through process is one of reflection and anticipation for buyers as they enter into a new season of their life as they move into their new home.

Selley Group Real Estate Blog Pilates

Realistically, I could write several blogs about the low inventory (about 30% less active listings from this time last year) within the Colorado Springs Real Estate market and how its bottle-necked effect is influencing the pricing for both buyers and sellers. And as a result, many characteristics stemming from this type of market reveal that lots of decisions for either buyers or sellers are based upon reactions rather than occurring from sound, strategic approaches.

That’s why I wanted to scratch out this blog…

With all the craziness happening within the real estate market, I want you to stop for a second if you’re trying to wade through the deep waters of encumbrances.

Take a deep breath, get mentally focused on the core of your beliefs and then confidently move onward, step-by-step, through the real estate process.

These three principles (breath, mind and movement) are also integral to the highly efficacious methods of Pilates.

My husband and I firmly believe that the health of the body (physical, mental and spiritual) is one of the important holistic factors that are central to better living. We not only subscribe to better living through exercise, but we have taken it one step further by actually owning our own Pilates studio, named SELLEY PILATES.

In a nutshell, healthier choices are not made from a chaotic mindset, especially when putting significant real estate deals together. And for most people, purchasing a home is their largest financial transaction of their life.

And the same goes for the health of the body. Healthy living does not happen when the body’s systems are functioning out of disorder.

So…without trying to seem overly philosophical, I want to encourage you to take a step back for a moment when the real estate process becomes overwhelming, and…

Take a deep breath, get mentally focused on the core of your beliefs about healthy living and then deliberately proceed forward, step-by-step, through the real estate process.

In most cases, the rewards for persevering to the end are really transformative!

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

Selley Group Real Estate Blog Real Estate On Fire

My phone is ringing off the hook.

… no matter the hour. If someone is selling their home, then they want to get their home listed as quickly as possible, and of course, at the highest price possible, or more descriptively accurate, at the highest price ever dreamed of…

And if someone is buying their next home, then they are typically shell-shocked, not realizing how quickly prices are rising and how quickly they have to make a decision in order to secure their home buying purchase. In fact this past week, I had one listing that had 9 offers and 50 showings within a few days.

According to one of my agent colleagues, named Ben Day, who is brilliant with making sense of the market numbers, “There are more buyers than sellers within 80% of the Colorado Springs Real Estate market.” No wonder Christmas time has come early for Sellers. Yet Buyers are like those late Christmas shoppers who are scrounging the empty shelves to get what’s left.

Perhaps scrounging might seem too desperate because there are still some good homes being listed on the market. The core issue to consider is the escalation in price values of the homes being sold. Asking price is generally not the number one position when placing a contract on a home. Commonly, many homes are receiving competing offers in which the accepted offer may be $40,000 to $50,000 higher than anticipated. And some buyers are willing to pay the difference between appraised value and contracted price value.

Recent market numbers substantiate that there has been an 11% increase in home values during the first quarter of this year. Talk about the fire burning.

Will the market continue this fiery trend throughout 2017? If interest rates remain low and inventory is barely dripping out of the faucet, then I believe the Colorado Springs Real Estate market can expect rising price values with multiple offers being made on many listed properties throughout this year.

Our market is starting to mirror some of the market trends of Denver and northern Colorado. These locations have been blistering with escalating home prices and lower home inventories for the past few years.

How do you deal with the fire? BE PREPARED!

Feel free to contact us via office phone, 719-598-5101, or through the website contact page.

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

University Park is a hidden gem within the northeast end of Colorado Springs. Surrounded by abundant shopping on the Academy corridor with easy access to UCCS, as well as Colorado Springs Christian Schools, you will find this neighborhood highly desirable when needing central access into town … attractive to physicians and CEO’s alike for proximity to medical and business.

This is a neighborhood surrounded by nature … the views of the mountain range are absolutely stunning and panoramic, while many of the roads have trail systems that journey for miles. We have a particular heart towards this neighborhood, as some friends of ours actually let us stay with them for nearly a month during the horrific time of the Waldo Canyon Fire. We were able to experience beauty and tranquility, even in such a difficult time, through the hospitality of friends, the peace found in their home and in the surrounding environment of the neighborhood.

Also shown as University Bluffs on the subarea of the MLS, the market activity is strong. Over the last 365 days, the average price sold in the area for homes built from 1996 to new is $512,165 with the highest sale price coming in at $1.29Mil. The current average active listing is priced at $751,964. Please let us know if you are interested in listing your home or would like to find a property in this gorgeous part of Colorado Springs.

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

selley group real estate blog remodel buy home

Personal Insights: Remodel or Buy Another Home?

My husband and I have recently finished a mammoth 2-year remodel project on our home and when asked, “Was it worth it?”  Well…

The journey had presented many interesting challenges that required an extraordinary amount of patience.

First, we were confronted about whether we should sell our existing home or should we simply move into another home in a higher price range. We had zero interest with making a lateral move. We chose the remodel route. Not because we thought the process was easier than simply selling and moving into a brand new home, but rather, we are part of the real estate business and have quite a few connections in the subcontractor industry who could help make our design choices come in to fruition.

Like many who are faced with similar questions about remodeling or buying another home, concerns about financial profitability were forefront on our minds. My husband went overboard with excel spreadsheets, outlining many scenarios about profitability. No matter the direction, we empirically knew the calculated costs were going to stretch our budgets.

Nonetheless, our story transcended the spreadsheet numbers. Our story was about making change — the kind of change that brings life — the kind of change that breaks the monotonous chains of stagnancy — the kind of change that brings color to the black and white realities of living. Frankly, we were ready for change.

Profoundly speaking, we found ourselves in the very same place that we’ve seen many of our other clients have experienced who are navigating through different seasons of life. While we were juggling the numbers to justify the remodeling expense, we also wrestled between adding value to our home versus adding perceived value to our life.

For us, we wanted to accomplish both objectives. Being part of the real estate industry, we are well aware of the importance of making upgrades to our home. In the long run, this process usually brings increased value to the home. And secondly, we wanted to bring value to our life through having the home remodeled. We desired simplification, organization, and bringing peace from the past years of moving a million miles an hour through leadership, work and raising our family.

The remodeling process itself did not bring life into our lives in a warm and fuzzy way. Rather, it challenged parts of our marriage like a blowtorch refining silver. It certainly would’ve been much easier to buy another place and move into a turnkey home without the hassles of remodeling. Yet for us, looking back at the process through the lens of hindsight, our perseverance through the remodeling process improved aspects of our marriage and our home.

It helped to give us long-term vision and objectives during our season of transition. Long-term wise, we know holding onto our home for three years or more will likely provide a higher selling value. But most importantly for us, we appreciate the love we put into the home. It’s as though our efforts to make our home environment better helped in some measure to deal with some inner issues within our own lives. In a way, I would describe parts of the remodeling process as healing.

So, do I recommend that you remodel your own home instead of buying another home? Simply, it is a personal decision for you and how you feel called to live out your life story. Because of our experiences, I’d be more than happy to sit down with you to discuss the best direction that you’d like to take — remodel or to buy another home?

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

Kings Deer is one of Monument’s most northern communities — a relaxed atmosphere with homesites residing on an average of 2.5 acres, rolling topography, and a scattering of trees among the backdrop of majestic mountain views along the entire Front Range. We have worked with many “cross-commuters” who travel to both Denver and Colorado Springs, and Kings Deer offers a viable solution.

Woven throughout the community, the golf course at Kings Deer will captivate you with gorgeous fairways that are designed in the style of a links course. Also, a D-38 elementary school, Prairie Winds, is right in the neighborhood.

First established in the mid 90’s with new construction occurring even now, there are many custom homes of all sizes and floor-plans. Over the last year, the average home sales price is $659,405 with the highest recorded MLS sale at $955,000. Inventory is moving in Kings Deer, and we would like to help you if you are selling or buying a home in this community.

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

Located 20 minutes north of Colorado Springs.

The beautiful town of Monument, Colorado is where the easy proximity to Denver and Colorado Springs perfectly blend together in a small town full of modern convenience. Monument resides at nearly 7,000 feet in elevation, with Pike National Forest bordering the western edge of the town. There is a variety of things to do nearby, from hiking in the forest to enjoying a day of fishing at Monument Lake, or take in boutique shops and local restaurants in the downtown square.

There is a wave of growth between Baptist Rd and Hwy 105 where you will find prime shopping, restaurants, and business. The Tri-Lakes YMCA is a popular hangout for adults and kids alike. Also, Monument is served by acclaimed Lewis Palmer school district 38. Tri-Lakes is another name for the Monument area due to the three main bodies of water called Monument Lake, Palmer Lake, and Lake Woodmoor.

Monument real estate is booming, with 313 single family listings sold on the MLS within the last six months. The average sales price at the moment is $474,673 with the highest recorded MLS price being $1,050,000. You will find a mixture of older homes, even cabins in Palmer Lake, to beautiful custom homes that are established in Woodmoor. There is also new construction booming in several areas. We can help you strategize about selling your home to get the best value, or if you are looking for real estate in Monument we are here to serve you. Monument is another slice of Colorado paradise!

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley

Selley Group Real Estate Blog Getting the Most Value

Getting the Most Value when Selling Your Home

$400,000 and under portion of the Colorado Springs Real Estate market:

One frequently asked question posed to our group of Colorado Springs Realtors from our sellers is… Will my house sell if we list it at whatever we want, since we thought the market was the strongest it has ever been?

Like any good question, especially one that is focused on gleaning the most value from a potential home sale, there are several variables to consider.  Yet, I want to focus on what’s really important to get the most value out of your home when selling it.

First of all, what is the nature of the Colorado Springs Real Estate market in the price range under $400,000?  Quite frankly, the narrative is oftentimes sizzling with multiple offers that are over asking price and are coupled with quick sales.  The price range of this market comprises about 4/5’s of our market and now has pinned up demand due to its historically low inventory of homes.

When buyer demand increases with lack of inventory, then the perfect storm occurs to drive home values upward.  In fact, during February this year, the actual sales price eclipsed $301,000, which is the highest value placed on residential properties that I have witnessed over my 20-year real estate career.

With the frenzy of higher prices happening within this segment of the market, many sellers believe that their homes are worth much more than they ever imagined.  And why not, especially when there is misinformation found on various home estimate programs or when gathering speculative real estate data from national experts?  And as a result, many sellers do not want to either stage their home or add any remodel upgrades to their home before selling it.  Also, sellers may think that they do not need to do repairs to their home prior to listing.  The general attitude is that the market will drive the most value for the home sale.

Nonetheless, overpriced listings do not follow the course of the market frenzy; most of them will remain stagnant in a marketplace full of motion.

The reality about the real estate market is that it doesn’t function on pure subjectivity, nor is it fully governed by fear due to low inventory.  Another factor to consider about home values is the appraised value.  Because in reality, most homebuyers require a mortgage to purchase their home and an appraised value oftentimes becomes the final figure within the actual sales price.  This is also where repairs come into play.  Safety and security items left undone in a home most likely will not pass a VA or FHA appraisal.

In my opinion, a thorough strategy needs to be prepared before you sell your home. That is what we are here to do for you. Through this process, we not only consider the items to repair, upgrades to get you the best price, comparative market values, and personal economic strategies, just to mention a few things.

As a general rule, the better your home is well taken care of, and the more improved your upgrades are in your home, typically, this type of residential property will be compared more favorably among your housing competition and the more likely, the appraiser will be able to assess a higher value on the square footage of your home.  Subsequently, the higher the value of the square footage equates to a higher value on your home.

Even within the craziness of having low inventory, I believe it’s best to either stage your home or to make the proper remodel considerations that will help to boost the greatest value on your home when selling it.  Let us help you decide what is right for your unique listing experience.

By: Cherise Selley

Colorado Springs Realtors-Selley Group Real Estate-Cherise Selley