Matt Tracer - Pilgrim's Pride Relocation

Pilgrim's Pride Relocation

You've Just Increased Your Odds to Sell Your Home

Last week, northern Colorado had interesting news that JBS - S.A., the largest meat producer in the world is relocating Pilgrim's Pride headquarters from Pittsburg, TX. In a 2/14/2010 Greeley Tribune editorial, it stated that more then 200 employees will be relocating to northern Colorado, I have heard through reliable sources that it may be as high as 400 employees.

Pittsburg, Texas is a small town, however with Pilgrim's Pride Headquartered there, it is a large source of the income for the community. Real estate in Pittsburg, TX is very value oriented compared to most of Colorado. With Pilgrim's Pride now being headquartered out of Greeley, CO; these employees will be looking to purchase new homes. Although there will be some executives that will be able to afford high-end homes, many of the workers will be management positions. What this means is that employees will be looking for homes in all price ranges.

An example of a home on the market now is the following... ask how this compares to your home, neighborhood, or city.

Address: 101 Cr 1219, Pittsburg, TX 75686
Built in 2003, this custom built, 2 story home has 4 bedrooms, 3 full baths and is approximately 2,835 sf sitting on a 1.17 acre wooded lot.

OK, so they have allot of house for their money. And there is nowhere around northern Colorado that will offer the same value. Most of these employees will live in either Greeley, Evans, Loveland, Windsor, or Fort Collins. Where do you think they are going to find the best value? How are they going to deal with the sticker shock of what they are used to? The question you should be asking yourself is whether your home is right for them.

This is just speculation, but based on the fact that there will be a full range of positions being moved to the area, you can probably conclude that the range of interest will be between $150K and $750K. This is a big range, and most likely based on what is listed in Pittsburg, TX, I think the likely range for most buyers is going to be in the $175K to $350K range.

What does this mean for you Mr/Ms. Homeowner?

The primary motivation for buying right now is the federal tax credit, low interest rates, and low prices.
The primary reason for selling right now is relocation, can't afford the mortgage, and upgrading to a new home.
The primary reason for not buying right now is the job market.

Possible Strategies for Listing Your Home

I'm going to upgrade my home, so I am going to list and go under contract with my upgraded home by 4/30 to take advantage of the tax credit because I qualify. I am hoping that people are motivated to make an offer on my home because of the tax credit and I am pricing it right. If I don't sell my home, I will try to rent it.
I don't care about the tax credit, I want to get the highest value for my home, and then upgrade. This strategy will be inline with the relocation of PP as most of these will occur after the federal tax credit deadline. However, when the relocation does occur, your odds of your home being purchased increases and your value has a chance to increase because of low inventory. Here's what happens, you may sell for a higher price, but when you go to buy, you will also be paying a higher price.

The general principle is that you can sell low and buy low; sell high and buy high; or buy low, rent current home, then sell high.

In closing... I think this is a great opportunity to see the northern Colorado market stabilize and flourish. 400 homes in the next 18 months is allot of homes. I would like to be your consultant and see if listing your home is right for you. Because I am part of an independent brokerage, I can offer extremely competitive listing rates, and still get your home in front of the people most likely to purchase it. If you would like to know more, call me at 970.515.8338.




	Pilgrim's Pride Relocation You've Just Increased Your Odds to Sell Your Home Last week, northern Colorado had interesting news that JBS - S.A., the largest meat producer in the world is relocating Pilgrim's Pride headquarters from Pittsburg, TX. In a 2/14/2010 Greeley Tribune editorial, it stated that more then 200 employees will be relocating to northern Colorado, I have heard through reliable sources that it may be as high as 400 employees. Pittsburg, Texas is a small town, however with Pilgrim's Pride Headquartered there, it is a large source of the income for the community. Real estate in Pittsburg, TX is very value oriented compared to most of Colorado. With Pilgrim's Pride now being headquartered out of Greeley, CO; these employees will be looking to purchase new homes. Although there will be some executives that will be able to afford high-end homes, many of the workers will be management positions. What this means is that employees will be looking for homes in all price ranges. An example of a home on the market now is the following... ask how this compares to your home, neighborhood, or city. Address: 101 Cr 1219, Pittsburg, TX 75686 Built in 2003, this custom built, 2 story home has 4 bedrooms, 3 full baths and is approximately 2,835 sf sitting on a 1.17 acre wooded lot. OK, so they have allot of house for their money. And there is nowhere around northern Colorado that will offer the same value. Most of these employees will live in either Greeley, Evans, Loveland, Windsor, or Fort Collins. Where do you think they are going to find the best value? How are they going to deal with the sticker shock of what they are used to? The question you should be asking yourself is whether your home is right for them. This is just speculation, but based on the fact that there will be a full range of positions being moved to the area, you can probably conclude that the range of interest will be between $150K and $750K. This is a big range, and most likely based on what is listed in Pittsburg, TX, I think the likely range for most buyers is going to be in the $175K to $350K range. What does this mean for you Mr/Ms. Homeowner? The primary motivation for buying right now is the federal tax credit, low interest rates, and low prices. The primary reason for selling right now is relocation, can't afford the mortgage, and upgrading to a new home. The primary reason for not buying right now is the job market. Possible Strategies for Listing Your Home I'm going to upgrade my home, so I am going to list and go under contract with my upgraded home by 4/30 to take advantage of the tax credit because I qualify. I am hoping that people are motivated to make an offer on my home because of the tax credit and I am pricing it right. If I don't sell my home, I will try to rent it. I don't care about the tax credit, I want to get the highest value for my home, and then upgrade. This strategy will be inline with the relocation of PP as most of these will occur after the federal tax credit deadline. However, when the relocation does occur, your odds of your home being purchased increases and your value has a chance to increase because of low inventory. Here's what happens, you may sell for a higher price, but when you go to buy, you will also be paying a higher price. The general principle is that you can sell low and buy low; sell high and buy high; or buy low, rent current home, then sell high. In closing... I think this is a great opportunity to see the northern Colorado market stabilize and flourish. 400 homes in the next 18 months is allot of homes. I would like to be your consultant and see if listing your home is right for you. Because I am part of an independent brokerage, I can offer extremely competitive listing rates, and still get your home in front of the people most likely to purchase it. If you would like to know more, call me at 970.515.8338.