How to Get the House You Want in the Denver Market
I’ll be perfectly blunt. Buying right now in Denver is tough.
The Denver real estate market is currently a seller’s market. Every two or three weeks 9News or The Denver Post runs a story about just how few homes are on the market.
A balanced market has six months of inventory.
Denver currently has ONE.
And there are a lot of buyers out there.
So how do you get the home of your dreams?
A competent full-time real estate agent reassures the seller that the transaction will be handled professionally. Phone calls will be returned. E-mails will be answered. Problems will be dealt with proactively. I will call the other agent before writing an offer to find out what the sellers are looking for, create a cover letter tailored to those desires, and double check that it was received.
A local, knowledgeable lender sets your offer apart from others. Most offers are written on the weekend. Your lender should be available to contact the seller’s agent within hours of writing an offer even on a Saturday evening. During that phone call their expert knowledge of appraisal rules, loan terms & the local market will give you an advantage.
Sellers generally want a big check at closing. You want your offer price to be competitive and beat the other offers by a few thousand, not ten thousand. I use historical data, local knowledge, and any information I can get from the seller’s agent to suggest an offer that will be competitive while not overbidding.
Not all offers are created equal. You have the option to prenegotiate the appraisal, inspection, and the possession timeline. For instance, you don’t want to propose a quick closing date if the sellers need time to find a new home. I will help you evaluate the risks and drawbacks to any contract terms.