Denver Housing Market 2017
The housing market in the Denver area is very competitive right now and buyers need to be prepared.
Homes for sale inventory is way below normal and it has been that way for months. The Denver Housing Market 2015 is number one in the nation right now for price increase over 2014 prices.
What can you as a buyer expect?
- Any offer you make will probably be one of many the seller has to choose from, and there are many cash buyers purchasing for investment purposes.
- Homes are not setting on the shelf for long. Many are under contract within 24 to 48 hours of going on the market.
What can you as a buyer do to improve your chances of getting the winning bid on a home?
- Have a Real Estate Broker to work with who can show you homes soon after they come on the market.
- Have your lender picked out and get your loan approval before you ever start looking.
- Have your wish list completed so you know what you want, where you want to live and how much you can afford.
- Don’t expect to see homes on just the weekend if you are serious about finding one. You must be ready to see them right after they come on the market.
- You may have to shop for homes under your loan approval amount so you can bid more than the listing price when you do decide to make any offer.
- Be ready for rejection and don’t let it deter you in your search for a home. Just keep looking you will find the home that you want.
We will be ready to show you homes every day and we have the expertise to advise you on how to position your offer so you have a better chance to win the contract. There are no guarantees, but having a Real Estate Broker who understands today’s competitive market will give you an edge.
We will be able to advise you so you don’t make offers that absolutely will not appraise at the offer price. If you aren’t prepared to bring additional cash at closing do not make offers over what a home will potentially appraise for. Ask your lender before you ever begin the process if your loan will allow you to bring extra cash to cover the difference between the appraised value and the offer price.
Don’t give up your right to an inspection unless you are fully prepared to take the entire risk of high cost repairs after the closing. Inspections may not catch hidden problems, but they will be able to find glaring problems that the normal buyer will not notice.