Sellers can count on Eldorado’s numerous amenities to help them with a home sale, including its 4,904 acres of community preserve, the several parks and courts for outdoor sports, and its overall inviting, family-friendly energy. Even with these perks working in your favor, planning a successful home sale is best completed with the help of expert, local agents like those on the Ricky Allen, Cathy Griffith & Tara Earley Team. When starting your home sale in Eldorado, follow the home selling tips below for a smoother process.
Time it right
Before starting your home sale, make sure you’re personally ready to sell your home. It’s natural to be sentimental about a property, but emotions can lead to mistakes further along the process. Selling a home is a long process requiring many resources, which is why it’s best to commit from the very beginning. Review your goals for moving, and ensure the area’s amenities and your home don’t outweigh your reasons for moving.
Then, check the local market trends to time your home sale. Eldorado is currently experiencing cooling trends, which may make it more challenging for sellers to list their properties. As of December 2022, closed sales were down 22% compared to the same time in 2021, indicating less buyer demand, while homes spend an average of 27 days on the market, 59% longer than in 2021. However, sellers can still expect their property to sell well, as the median sales price is 9% higher.
Then, check the local market trends to time your home sale. Eldorado is currently experiencing cooling trends, which may make it more challenging for sellers to list their properties. As of December 2022, closed sales were down 22% compared to the same time in 2021, indicating less buyer demand, while homes spend an average of 27 days on the market, 59% longer than in 2021. However, sellers can still expect their property to sell well, as the median sales price is 9% higher.
Partner with an agent
The next step is to partner with a real estate agent who knows the city and its neighborhoods, is up-to-date on market trends, and can communicate well. With their market knowledge, agents like those on the Ricky, Cathy & Tara Team will help you competitively price your home using comparative market analysis. An agent will adjust the listing price based on your property’s details. They’ll also use their network of connections to find buyers interested in a home showing, then schedule showings on your behalf.
Agents have connections to many other resources as well, such as a home inspector, a home contractor, and a professional photographer. They’ll list your property on the MLS, ensuring it gets the most visibility, then help you negotiate offers you receive from buyers. When you’ve agreed with a buyer, an agent leads you through closing steps and explains the complicated language in contracts before you sign legally binding documents.
Agents have connections to many other resources as well, such as a home inspector, a home contractor, and a professional photographer. They’ll list your property on the MLS, ensuring it gets the most visibility, then help you negotiate offers you receive from buyers. When you’ve agreed with a buyer, an agent leads you through closing steps and explains the complicated language in contracts before you sign legally binding documents.
Prepare your property
With the guidance of an agent, start preparing your property. A pre-listing inspection can help reveal hidden issues with your home that could jeopardize a sale later in the process. Common issues for failing a home inspection include foundational issues, plumbing problems, electrical issues, and code violations. While deciding which larger problems to fix, complete small repairs yourself, and consider upgrades you can make with a high ROI.
Then, deep clean your home. Hire a professional cleaner, or clean it yourself by mopping floors, removing stains from carpet and furniture, and wiping down dusty surfaces and windows. Then, keep areas clear by donating items you no longer use and storing extra belongings in a storage unit if closets are overflowing. With a blank slate established, stage your home to connect with as many buyers as possible.
Then, deep clean your home. Hire a professional cleaner, or clean it yourself by mopping floors, removing stains from carpet and furniture, and wiping down dusty surfaces and windows. Then, keep areas clear by donating items you no longer use and storing extra belongings in a storage unit if closets are overflowing. With a blank slate established, stage your home to connect with as many buyers as possible.
Market your home
To market Eldorado homes for sale, take professional photos of your property. A professional will know how to light, angle, and compose a shot that showcases the features of your home. Professional photos also interest buyers online and show that you’re serious about the selling process. Alongside professional photos, an agent will help you create a listing description explaining your property’s highlights, as well as amenities within the community.
In Eldorado, consider adding community amenities like nearby Compadres Park with a large play area, hiking trails in the 987 acres of greenbelts, as well as the nearby schools, shops, and restaurants. This is especially helpful for buyers unfamiliar with the area. An agent will market a listing on their own website, through social media, by placing a sign in your yard, and through in-person showings or an open house.
In Eldorado, consider adding community amenities like nearby Compadres Park with a large play area, hiking trails in the 987 acres of greenbelts, as well as the nearby schools, shops, and restaurants. This is especially helpful for buyers unfamiliar with the area. An agent will market a listing on their own website, through social media, by placing a sign in your yard, and through in-person showings or an open house.
Negotiation process
When marketing takes effect and buyers start making offers, review offers for the type of financing, contingencies, timeline dates, and additional fees like a down payment or earnest money. An agent will review a buyer’s financial portfolio as well to ensure they’re qualified to make their offer. Before sorting through offers, establish what you are and aren’t willing to be flexible about, so you don’t make any choices you may regret in the heat of the moment. Then, accept, reject, or make a counteroffer to reach an agreement.
Closing costs
Across New Mexico, closing costs usually average about 2.78% of a home’s final sale price. Using a sample sale price of $684,000, a seller can expect to pay about $19,015.20 to close on a home. Closing costs include fees for a title search and a title transfer, recording fees, buyers’ incentives, and property taxes for the months you owned the property. In Santa Fe, property taxes average about 0.39% of a home's assessed fair market value, which would be an annual fee of $2,667.60 using the median sales price. Sellers will save on transfer taxes, as New Mexico has no transfer taxes.
Ready to sell your Eldorado home?
Eldorado is a nature-filled, peaceful community that buyers love for its generous outdoor amenities. When selling a home in Eldorado, make sure to time it right, prepare your property by cleaning and staging, and partner with a local professional. They can help you price your home correctly, market your property on and offline, and help you with negotiations and closing steps. If you’re ready to list your home for sale, contact one of the experienced agents on the Ricky Allen, Cathy Griffith & Tara Earley Team to guide you through the process.
