It is truly amazing how the housing market here in Denver and Aurora has changed in such a short time. It used to be when working with a buyer I had pages and pages of listings to choose from for them that fit what they were looking for in a home. If they didn’t like any of the homes I showed them, it was no big deal. We would just look through all the other listings available and just go out looking again. No problem. Within the last 6-9 months, that is no longer the case. For some buyers that I’m working with, I have absolutely nothing to show them. This is a problem that I’ve never experienced in all my years in Real Estate. All I can do now for them is do a search every day, and hoping that something has come on the market and that it doesn’t go under contract before we get there. As an example, a buyer I’ve been working with wanted to make an offer on a HUD home that was listed for $70,000. The house wasn’t perfect, but it was livable and just needed a bit of work. We made a full price offer, and didn’t ask for any closing costs. You would think this would be a pretty good offer with a good chance of being accepted. WRONG!! We were one of 33+ bids and the winning bid was $30,000 over the asking price at approximately $100,000!!! Something like this was absolutely unheard of until just recently. Now we are experiencing a very strong sellers market where sellers have the advantage and quite often get a number of offers to choose from, which is every seller’s dream situation. As you would expect, this is driving up home prices, and people that were once underwater on their mortgages are now back to where they were 5-6 years ago or even ahead. If this trend continues, we should see fewer and fewer short sales and foreclosures and a once again a healthy housing market.
Author:Jason Peck Phone: 720-446-6301 Dated: January 31st 2013 Views: 776 About Jason: ...
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!