Anyone that has been involved in the Denver real estate market this year knows exactly what I am talking about. Inventory remains to be a struggle for many Colorado home buyers. When a property hits the market and it is priced right, sellers can usually expect to see multiple offers within the first 2 days of showings.
I have had the pleasure of working with some first time home buyers in the past weeks. Of course, we have not found their perfect home yet for a couple of reasons. First – inventory. It is slim pickings out there. Second – they think they can still offer less than list price for the home of their choice. I try to educate buyers to let them know that we cannot shop in their max price range and also let them know that we will probably need to go above list price if they expect to get the home. Sometimes, they need to see it to believe it.
I have submitted a few offers at list price for clients. I encourage them to go over list if they really want the property, but most times, they just can’t get their heads around this concept. It usually takes three times before they to realize that this is the norm in my area.
It is a struggle for Colorado home buyers these days, but the end result is well worth the effort. I am witnessing price increases in just a few short months. I’m not sure when things will taper off but I don’t see an immediate end in sight.
Hopefully my buyers will trust me when I tell them to offer more than list.
Aspen Lane Real Estate