The Sheridan Area Blog

At the conclusion of my previous post on “How to Avoid Price Reductions in the Sheridan Real Estate Market” I committed to providing 5 tips to effectively marketing your Sheridan ranch, land parcel or home. If implemented, these 5 real estate marketing strategies will enhance your properties visibility so you can experience a quicker, more profitable Sheridan real estate transaction.

Buyer’s are More Web-savvy. Are You a Web-savvy Seller?

Because most real estate experts would agree we are in a buyer’s market, Sheridan home sellers need smarter marketing strategies to insure their home sells for the maximum fair market value and the sooner the better. Just remember, Sheridan home buyers are a web-savvy bunch, so creating a marketing campaign that attracts these Internet Empowered Consumers is a must.

5 Success-oriented Sheridan Real Estate Marketing Tips

Based on recent market data, here are the 5 marketing tips you need to insure your Sheridan, Big Horn, Ranchester, Dayton, or Story, WY property is given the maximum exposure your property deserves.

• The smartest strategy you should start with is accurately pricing your Sheridan real estate. This means setting the “right” price the moment your ranch, home or land parcel is listed for sale. As you read in my previous post, price reductions send negative messages to your potential buyers. It screams that your property is overpriced and possibly undesirable. If market conditions dictate and your agent indicates a price reduction is necessary NEVER launch a price reduction marketing campaign. If you do, you send signals to buyers that your Sheridan,WY property is all but unmarketable.

• Believe it or not, what day you have your Sheridan property “debut”on the Sheridan County Multiple Listings Service (MLS) has an impact how many”eyeballs” see your home. Plus it can determine how quickly your Sheridan County property will sell. The very best day to have your Sheridan single-family home, ranch or land “hit” the MLS is a Friday. The worst days are Mondays and Thursdays.

• Because today’s Sheridan home buyer is smarter and using the Internet in greater numbers, I recommend you solicit the services of a local Sheridan real estate firm that is equally web-savvy using as many Internet portals or websites to showcase your property. One of the more popular websites buyers are flocking to is Craigslist. This website is one of many websites your Sheridan listing agent should be using to feature your home, ranch or land parcel.

• When setting the “right price” for your Sheridan, WY real estate, make sure the price falls within the correct pricing “categories”. Internet-based buyers typically create property searches in segments or increments of $25K to $50K. If your recommended Sheridan property value is $351,000 based on a comparative market analysis (CMA), it is recommend you list your home at $350,000 so your home falls in the $325,000 to $350,000 price point.

• While this next marketing strategy is not often used in the Sheridan real estate market, you may find it occurring more often should our market conditions deteriorate. Before you list your Sheridan real estate for sale, have your agent search your “hyper-local” neighborhood or community to determine if there are “foreclosure properties” on the market. If your agent identifies such properties, it is recommended you hold off listing your property until that foreclosure home is off the market. Foreclosure properties are typically difficult to compete against and set a bad precedent for property values in your area.

What has been Your Experience

Tell us your story about marketing your property in the Sheridan real estate market.  How did you overcome your obstacles to successfully market your Sheridan property? Are you thinking about listing your ranch or single-family home for sale? If so, ask us any questions you might have about marketing your Sheridan land parcel, ranch or single-family home.

Until my next post,

Bruce Garber
Century 21 BHJ Reality, INC

Your Sheridan Real Estate Resource

All But Eliminate the Need For Price Reductions

Because some Sheridan home & property sellers refuse to face reality and rationally price their homes & property, to often Sheridan real estate agents list homes & property for sale at inflated prices. Know this, the first 3 to 4 weeks a home is on the market are so critical. An inflated price removes the excitement of the new listing which results in little or no traffic and more important – no offers.

The Typical Price Reduction Tactic

Faced with the reality and knowledge the property is over-priced, the seller agrees to a “price reduction” and the agent places a rider sign that announces to the world – “we realize the price was irrational” and it has been reduced! Think about the mixed messages that sends to the Sheridan home buying community (and it’s agents). It could be interpreted that the home is undesirable or maybe the home is in disrepair. Now you have more obstacles to marketing the home which ultimately prolongs the days the property is on the market. This creates unnecessary stress for the seller that possibly could have been avoided.

In the end the important thing, is to have a knowledgeable agent that maximizes the sellers opportunity  while not subjecting them to the price reduction process unless absolutely necessary.

Your Comments?

What has been your experience as a past seller who had to go through a price reduction and what lessons did you learn?

5 Tips to Effectively Marketing Your Sheridan Home

In my next post I’ll be sharing 5 exclusive secrets to successfully marketing your Sheridan, WY home. These tips will help your Sheridan home sell quicker and for maximum fair market value.

Until my next post,

Bruce Garber
Century 21 BHJ Reality, INC

Your Sheridan Real Estate Resource

Fact #1 – The Sheridan, WY Real Estate Market Has Changed

Not long ago Sheridan, Big Horn, Story and Ranchester home sellers could offer their homes for sale and ask the buyer to make any minor repairs after the sale. In that market buyers bought properties and agreed to pay for the repairs. With the competitive nature of the current Sheridan real estate market, those days are gone. Not that I agree with the negative message the national news media continues to “beat” that the “real estate sky is falling“, I simply say that the Sheridan real estate market has actually “normalized”.

Fact #2 – It’s Time For Rational Real Estate Pricing in Sheridan

This means it’s time for our sellers to face the reality that homes must be in move-in condition and that sellers must accurately price their homes before they hit the market. It is more important now than ever before. Too often, sellers have a figure in mind what they think their home is worth before the for sale sign is ever placed in the front yard.

Here is a reality check:

1. What you may have previously paid for your Sheridan home does not affect its value in today’s market.

2. The amount of cash you need from the sale of your Sheridan home does not have any affect how much your home is worth.

3. What I say your Sheridan property is worth does not determine its ultimate value.

4. What another Sheridan County real estate agent or agency says your property is worth does not affect its value.

5. What a Sheridan County tax assessor says your Sheridan or Big Horn home is worth does not affect its value.

6. Your emotional attachment to your Sheridan home with all its wonderful memories does not impact the value of your home.

Fact #3 – The Buyer Always Determines the Value of Your Sheridan Property!

Further more, the value of your Sheridan home is determined by what a buyer is willing to pay in today’s Sheridan real estate market based on comparing your home to other recently sold properties with similar features and comparable condition. That is determined by hard data from recently sold properties in the Sheridan County area provided by a market analysis (CMA). No emotion, all data.

So How About You – As a Perspective Sheridan Home Buyer or Seller….

What’s your take on our current real estate market? Are Sheridan home sellers being rational with their home values and are buyers making reasonable offers? I look forward to your comments.

In my next post I will discuss “How to Avoid Price Reductions in the Sheridan Real Estate Market“.

Until my next post,

Bruce Garber

Your Sheridan Real Estate Resource
CENTURY  21 BHJ Realty, Inc.

From our family to yours, we would like to wish everyone

all that is good and right in the world

and all the Very Best in 2008!

CENTURY 21 BHJ Realty Inc.

Surrounded by a number of smaller, more rural communities, most notably Big Horn, Story, Ranchester, and Dayton; Sheridan, Wyoming is filled The pictures depicted include Sheridan and the surrounding area, as well as Cody, Sunlight Basin, and Yellowstone – all offering great recreation that we enjoy year round.

As reported by the Sheridan Press on Tuesday, November 13, 2007, Sheridan County School District 2 reported that seven Sheridan High School athletic teams will be honored by the Wyoming High School Activities Association for team members’ grade point averages. 

The Wyoming High School Activities Association (WHSAA) classifications for academic honors are a GPA of 3.0 – 3.49 for Distinguished and 3.5 – 4.0 for Outstanding.

We would like to congratulate the cross country and girls’ tennis teams, volleyball, boy’s tennis, girls’ swimming, golf and football teams for their outstanding commitment to education excellence.

Congratulations to you all.  You make our community proud.

It is very apparent that the real estate market has run past its values in various parts of the country.  It’s hard to feel to sorry for them.  The day traders left the stock market several years ago and started using homes as their next vehicle for funding bad habits and hobbies.

Luckily, the Sheridan area did not experience the big run up from investors entering our market.  Our real estate values have certainly increased, but not at the pace that the markets which are crashing did.   What does this mean for buyers and sellers in the Sheridan area?  Read on!

Buyers – what a great time to be a buyer.  Interest rates are still at historic lows.  As compared to a year ago, buyers will find a much better selection of homes.  Not only is the selection better but you can take a bit more time and select several homes to wheel and deal on.  It’s more important than ever to work with one of our professional CENTURY 21 agents who understands the market.  They will help you avoid the homes that are out of line with the value of similar properties in our market. 

Sellers – despite some of the impressions from the national press our market is active and vibrant.  As compared to a year ago, our market has become a more normal market.  It’s very important for Sheridan area sellers to select an agent that really knows the market.  Understanding buyers wants and needs and highlighting your properties uniqueness is what we do best.    I joke to our agents that sellers can no longer buy a property, mow the yard, and place the property back on the market for an extra $20,000.  The good news though, is that your home will sell if marketed and priced properly.  It’s a great time to have the most recognized name in real estate in your yard.  We have big marketing guns and we like to use them.  As markets soften around the country buyers and sellers are looking for recognizable, reliable and consistent agents/companies to work with. 

Have any questions about our market?  Feel free to leave a comment or question.  We are ready to put the gold standard to work for you!  

Until next time…..

Bruce  

It’s hard to believe that we are already into October and the month is flying by.  In the spirit of the season, we had a Great Pumpkin Contest in our office.  The end resulted with the agents getting their creative juices flowing, with each carving a pumpkin, with some pretty scary results. 

In keeping with the fun, we had one of our local daycare providers come with some kids, and each got to pick out their very own pumpkin to bring home.  It was fun having the kids in our office and watching them enjoy themselves.  They were great company!

Daylight Savings Time Ends November 4, 2007

An Interview About Sheridan, WY schools with Melanie Jacobs, a parent, who is also a Real Estate Consultant with CENTURY 21 BHJ Realty Inc.

Q.  So Melanie, what’s it like being in real estate and having teenage daughters? 

A.   It’s a good thing!  I am connected to the young people and families coming into town and I have the knowledge about the schools and of how the schools work; what schools are focused on in different areas of education.   I stay involved in school sports and activities offered in our area as well.  I am really out in the community, which generates leads and buyers; it definitely helps me connect with buyers and sellers better.  Also, being a mom and being in real estate gives me the flexibility to be involved in the lives of my kids and being involved in the community, it’s the best of both worlds.

Q.  When you talk with clients who are from different parts of the country who are thinking about moving to Sheridan, WY, at what point do they start asking questions about schools?  

A.  If they have school age children, it’s the first question they ask.  What schools are better suited to what their kids’ needs are.  For example they might have a gifted child and what school might meet those needs best?  I have my thumb on the pulse on what is going on.  And contact information – I am on a first name basis with people from both School District #2 and School District #1.

Q.  Are you able to personally guide and introduce clients to key personnel within the schools? 

A.   Yes, I have a good relationship with most every principal, whether it is at the grade school level, junior high or high school level.  Also, my husband is on the school board, so I have a little bit of an inside track.  If someone has a particular question or concern, I can find out who they need to talk to, and address their questions.

Q.  Do you find that the people moving into our area are impressed with our schools and test scores?      

A.  That’s true! Wyoming has developed the Proficiency Assessments of Wyoming Standards (PAWS) achievement test, which compiles information from around the State and complies with the “No Child Left Behind” requirement. Sheridan Junior High School is a 4A school, which is the largest class of school in Wyoming.  The Sheridan Junior High was ranked #1 in the State for reading, writing and math.  The PAWS testing is in reading, writing and math, and it is all computerized.  Our schools are all very technologically oriented and the testing is too.

Q.  What grades does the Junior High consist of? 

A.  The Junior High consists of 6, 7, 8^th grade, comprising of approximately 1,000 students.  The 6^th graders, who are transitioning from the grade school (k-5)  level into the Jr. High, are grouped into “clusters”, in which they have their own wing, and each cluster has core teachers; so these 6^th graders are not thrown into a 1,000 kids and being a little fish trying to find their way in a big pond.  The 7^th graders are still in a cluster setting, but they interact a little bit more with the 8^th grade students.  The 8^th grade, in preparation to the high school, have more of a high school schedule and setting.

Q.  So what is keeping your kids busy right now?   

A.  Volleyball, volleyball and more volleyball!  Soccer is going on as well.  There are several intramural sports offered at the Junior High, like pickle ball.  There is also fall soccer, cross country, and then we will transition into girls’ basketball, as well as boys’ basketball, then track, and swimming. 

Q.  Sounds like you are ready to have one of the kids get their drivers license?    

A.  Very much so!  But, you know, real estate also lets me plug in a tape when I’m sitting in my taxi, and learn about all things new in real estate.

Melanie Jacobs, Real Estate Consultant

CENTURY 21 BHJ Realty Inc.

Fire in the Big Horn Mountains, Wyoming
By Bruce Garber, Broker / Owner, CENTURY 21 BHJ Realty, Inc

The Little Goose fire is now under control. It was quite a sad day to see the face of our mountain burn from Little Goose Creek to Red Grade Road. As always in Wyoming, it was nice seeing neighbors helping neighbors moving personal belongings and animals way from harms way over the weekend of August 11th, 2007. Our hearts go out to everyone who lost cabins and structures in the fire.  Spahn’s famed Bed & Breakfast  was lucky with only having lost an out building.  So, they are still open for business for those of you that make Spahn’s an annual outing with friends and family.

I have had several inquires this week on how this might affect real estate values for properties near the mountain. Mother Nature has a way of humbling us, but hopefully with time, the portion of the mountain that burned will shed light on a different form of beauty until the face of the mountain rejuvenates itself.

We definitely live in the Wild West and I personally would rather put up with an occasional forest fire over the perils of earthquakes, tornados, or hurricanes.

Lastly, a big thanks to all of the fire fighters, especially the volunteers of the Big Horn Fire District, for a job well done under very tough conditions.

Best,

Bruce Garber
Broker/Owner, CENTURY 21 BHJ Realty, Inc