Well Folks it continues to be a sellers’ market. The supply of homes is considerably lower than the number of buyers qualified to purchase. As long as this is the situation, home prices will continue to rise in Colorado. This is ideal if you are selling, but very competitive and difficult as a Buyer. All of my Listings this year, have gone under contract in less than a week, and all for over the asking price, with multiple offers.
Sellers –It is very important to hire an experienced agent to guide you through the process. When you get into a multiple offer situation, a good agent can explain each offer in detail, go over the plusses and minuses to each offer. This will help you to make the best decision of which offer is the best given your situation the best.
Part of the reason inventory is so low, is due to sellers concerned about finding a replacement home. To help remedy this situation, when listing the property you can make the sale of your current home contingent to you finding a replacement home, and ask that the contingency become part of the contract.
Buyers– Make sure you get an agent that can thoroughly explain what the market is like, and if you want to purchase, what it will take to become the selected offer in this competitive market.
I pride myself in telling it like it is, of course in the end the BUYER and the SELLER ultimately make decisions for themselves. However it’s my job as a Real Estate Agent to make sure you make an informed one!
If you have any questions or want a free analysis of what your home is worth, please give us a call at 303-868-4835.