Selling Home Gets Tougher

Rising interest rates are making it hard for some home-owners to sell. Brokers say home sales are down two-percent since last year at this time and are calling it a buyer's market. But they're quick to add that the market isn't completely against you if you're trying to sell.

"It (the home) just has to be the best-priced and the best-showing because when people are comparing it with other ones, there's just a lot to choose from," says Chris Snowden, owner of Help-U-Sell Real Estate.

There are 30 percent more homes on the market in El Paso county, but most homes here still sell in a reasonable amount of time... Usually 4 or 5 months and as little as 77 days in the Briargate area, according to Bill Kemp of Remax Properties. "The nice thing is builders are building fewer homes today so the excess inventory should be absorbed," said Kemp.

As for home values... "Actually, i think they've held steady or gone up just a little bit," said Snowden.

If you're looking to sell, brokers say competetive pricing, good marketing, and exposure will help you sell faster. The most difficult home to sell in El Paso county is in the million dollar plus category.
Those homes are taking an average of three years to sell.

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