ResalesDenver Home Prices No Longer Mile High
Denver, Colorado, one of the darlings of the expansion in the West only a few short months ago, is no longer experiencing one percent a month inflation in homes, but prices aren"t dropping the way buyers anticipated either.
"Yes, there is room for some negotiation these days," says Realtor Carol Levine, "but savvy Realtors and sellers are more likely to price things "right" and statistics show a sale to listing price in the 97-98 percent of asking price on most sales.
Advises Levine, "Most important to sellers and buyers is the condition of the home. In a market with more homes to choose from, in order to sell, the home must be in tiptop shape. An experienced agent can help sellers "stage" their homes to sell. Buyers will respond to homes in move-in condition and those homes tend to sell the fastest.
"With interest rates at record lows, now is the time to buy," says Levine. "These rates may not last too long if international politics change in the next few months and that is altogether possible. Take advantage of rates now.
And to sellers, Levine says, "Now is the time to sell. With favorable interest rates for buyers and the market strong for well-priced properties, if you have been thinking of selling, don"t wait. You can profit as a seller and also buying the replacement property."
Agrees Realtor Dawn Doherty, "It is rare to have a client that is leaving the state- most sales are "move up" choices for more space or "easy maintenance" decisions to go condo/ townhome. The lifestyle prevails- Denver is the best place in the world to live!
She explains, "The Denver market is extremely ripe for buyers. You are offered an opportunity to choose from excellent homes in growing areas at rates that are finally negotiable. As we head into the holiday season, sellers will choose to sell rather than hang on. In addition, interest rates are the lowest they have ever been."
Says the Team Cox, "The Denver real estate market is a real conundrum. Property values rise, yet it is a buyer"s market. June"s average sales price was 2.6 percent higher than a month ago and 3.2 percent higher than a year ago. Home sales are well off the 2001 numbers, down nationally 11 percent from the same period last year.
Advises Team Cox, "What is selling, and always will in spite of market conditions, are well-maintained homes with that certain something extra. That certain something extra can be condition, an exceptionally finished basement, a remodeled top-end kitchen or a value-added lot. Lacking these elements, the home may sit on the market for an extended time and the owner taking far less than anticipated. If you are a bargain conscious buyer in the Denver market, this is certainly your time. The market is flat and many eager sellers are saying, "Let"s Make a Deal."
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