If you’ve been following Denver’s real estate market, you know it’s been a tumultuous year! This summer 5280 Magazine offered some great tips which we pros also share with our buyers.
The Market is On Fire!
For those looking for a home, the market’s conditions have remained the same:
- Rising median home prices for single-family detached homes.
- The average days a home spends on the market continues to stay brief.
- Active inventory still remains very low (though it has been slightly increasing over recent months).
Fear of the Miss-Out
At times this seller’s market puts buyers in ultra-competitive situations. While there are good homes available at every price range, most of them are priced at the top of the market. This means buyers have to resist getting too caught up into bidding wars: when you won the contract with such an over-the-top offer, you begin to regret the price! A smart buyer knows when to:
- Offer their best prices the first time they contact the sellers.
- Be prepared to walk away from the deal when it goes beyond their limits.
The Strategy: Be Prepared!
Winning the right home requires a well thought out plan.
- A clear understanding of your priorities and financial situation.
- Expert knowledge on pricing within specific neighborhoods.
- Defined limits on how much you’ll spend on a home and sellers’ demands.
Considering buying a home?
We’re here to help you create a strategy for your needs! Don’t hesitate to contact us with a question or to set up a free consultation.
Shelley Bridge 303 981-4560 Shelley@denverhomeshere.com
Pam Tomlinson 303-638-5320 Pam@denverhomeshere.com
Source: http://www.5280.com/dwell/real-estate/digital/2015/07/how-navigate-denvers-competitive-sellers-market
