Answers - Real Estate

Part 2 of “Why So Many Colorado Springs Homes Won’t Sell”

I started a series on Why So Many Colorado Springs Homes Won’t Sell a few weeks back. The three main points discussed were

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

price, condition, and Realtor. I discussed how price is often the #1 factor that will help you sell your home in Colorado Springs in a buyers market. With a high inventory of over 5

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

,000 available Colorado Springs homes buyers have plenty of options and are looking for deals. Todays Colorado Springs real estate market is very healthy yet we are in a buyers marke

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

t and on average the absorption rate of home sales is low with about 10-15% of Colorado Springs homes on the market selling each month. This leaves the other 90% still on the market

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

with most neighborhoods experiencing 6-8 months of housing inventory. That means that if you are not in the 10% of homes sold each month your home could sit on the market for 6-8 mo

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ths IF no new homes are listed before it will sell, if it sells. You may think well, 6-8 months isn’t great but at least it will sell. Not true, more problems arise when more homes

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

hit the market and are priced better than yours, are in better condition, or are listed with a Colorado Springs Realtor that is actively marketing your home. As this occurs your home

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

continually remains in the percentage of homes that just won’t sell. To prevent yourself from being in the 90% category that won’t sell this month you MUST be committed to sell your

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

home. Although we still have a healthy real estate market it is not the right market to test the waters and hope you make more money than expected. Price your home to sell based on

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

the comparable sale prices, local competition, and on the facts. When you set a listing price you need to ask yourself if you want to be in the 10-30% that will most likely sell in

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

he next three months or do you want to gamble and hope for the best.

Price is a huge consideration I getting your home sold but you must consider the condition of your home. How is

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

the curb appeal, how about clutter inside the house, do the walls need paint, do you need to fix any other major cosmetic problems etc. Again, with a high inventory of home in the Co

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

lorado Springs market it’s important to make sure that your home is in the best possible condition. I’m not saying you should spend 1,000’s of dollars on needless upgrades, but it is

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

important to everything that you possibly can to make your house as presentable as possible to help your house stand out from the rest of the crowd. Home buyers most likely may not

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

even consider looking at your home if they feel that condition is not in good shape. They will just move on to the next Colorado Springs home that meets their criteria and is in bett

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

r condition. When you get ready to list your house ask yourself these three questions, does my home stand out in a positive way? What is it about my home that I wouldn’t like if I w

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ere looking at purchasing? What can I afford to do in order to help put my home in great showing condition? Even if you don’t have a large budget to correct noticeable problems you

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

might be surprised just how much you can do with just a little bit of effort and time to help make your home ready to sell.

By making a commitment and setting a price that is competi

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

tive to sell, and ensuring your home is in good selling condition you are on your way to successfully getting your Colorado Springs homes sold. The final piece of the puzzle is listi

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ng with a Realtor that will actively advertise and work your listing. I will discuss this final piece of the selling puzzle in part 3 of Why So Many Colorado Springs Homes Won’t Sell

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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No, ‘cheap’ is not necessarily a bad thing (well, not always), but when it comes to a services industry as competitive and with as thin margins as the web hosting industry, customers better watch out. Hosts offering ‘low-cost’ services tend to offer the world for Rs. 900 per year but, usually fail to deliver even the most basic of services. Surprised? I’m not. Let me explain some basics for the benefit of the vast majority who would still be unsure as to what I’m rambling about.

There are many of us that have been badly stung by credit card companies that have charged exorbitant fees to use their credit cards.

It's all about money. And if there are other things included, they will be found somewhere in between. Not that we are trying to be too materialistic here but lets face it, we all need some security that would run down through the years. And that's exactly what a real estate investment is.

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