Denver's housing market may be crazy, but it is still possible to buy.
When sellers received more than a dozen bids in a matter of days, needless to say, you're in a crazy competitive housing market! Though approved FHA financing is good, cash offers are still hard-to-resist for sellers in bidding wars and above-list sales.
But there’s still hope. As real estate brokers we agree with Denver Post's recent article: it's still possible to buy a home in the Denver metro area — and that includes those without $300,000 in cash.
The right people
Having the right team around you makes a big difference when looking for home. Hiring a local real estate agent who knows the neighborhoods you're considering (and has good networks to search out listings before they hit the market) will work to your advantage. You have to have an expert advocating for your needs!
Working with a reputable lender will also help elevate your offer. After all a seller wants to go under contract with buyers who will make it to the closing table.
The right approach
Using the right search tools is a must in this aggressive market! REColorado.com is highly recommended because it draws from the same database brokers use to list their properties. It’s also updated faster than national sites like Zillow or Trulia.
Since we’re in a seller's market, keep your terms flexible. Being more open to negotiations can help your offer more appealing to sellers. Use a salesman approach when you make the offer: adjustable closing dates, contingencies and etc. Whatever you can compromise on or sacrifice will be worth it if to win the right home for you!
Check out our blog for more tips or contact us for advice:
Windermere Metro Denver Real Estate