The confusion of today’s residential real estate market in Denver is crazy. Price range, location, floor plan, amenities and more still have a huge impact on the market’s attraction to a property or not. I’m sure there is, but I can’t imagine a more “localized” market than Denver’s.
What does this mean? Typically, if you are trapped in the “Cloverleaf” and can’t stop circling, you have not educated yourself in a manner that enhances your ability to make credible decisions.
Did you know you can pick a house, a company will buy it for you, and subsequently give you a purchase option at a guaranteed price sometime in the future. You’ll probably pay an “above market rental rate”, but at the end of your option, “no harm, no foul”; just walk away, or exercise your option and stay put.
If you have a concern, there is a solution! The market is mostly smart. Buyers and Sellers are mostly smart. It’s an orderly process most of the time. The residential market is not something to be fearful of, it is a place to educate oneself and make market informed decisions.
Buying a home in any market is not a place to venture alone. In spite of its ease of entry, decisions made now on the buy-side will impact you later on the sell side.
Let’s look at the last 7 days in Denver’s MLS system. 10/29/2018
New Listing (1289) Seasonally low; this is to be expected.
Back On Market (287)
Price Increase (101)
Price Decrease (1602) Wow! This number continues to reflect motivated sellers looking to “get out” before year’s end.
Under Contract (1315) Not a bad week. Buyers are “sniping” the “good deals”. When buyers see value, they are still pulling the trigger.
Expired (304) Sellers believing it’s the “Realtor’s” fault and not the market’s fault. They’ve given up. “I’ll just stay here if I have to sell it at this price!”
We have discussed this “bifurcated” market before, and Denver’s market is clearly that. That’s the reason you need a seasoned “in the market” broker to answer your questions, offer solutions and be with you every step of the way.
Every week, we are in observance of the nuances of Denver’s Residential Market. We’ve been here for the “Boom and Bust” of the ’70s and ’80s, we’ve been her for the “Boom and Bust of the ’90s, and we were here for the “Boom and Bust” of the “New Millenium”. We plan to be here for this next cycle too. We can speak from experience. We can share it with you. Please don’t hesitate to give us a call. 303-773-3399
Don’t continue looping in the “cloverleaf” of Denver’s Residential Market! “Failure to plan is a plan for failure.”