Tag Archives: Broomfield

Market Watch Metro Denver

This past weekend I worked with 4 separate buyers.  Sounds exhausting?  Well it was, but not how you would think.

Typically when working with a buyer you set appointments, probably 5-7 on homes that might fit their budget and other criteria.  Well those days are past.  Now we are lucky to see that many homes in one outing.  The most homes I showed to one buyer this weekend was 4!  That’s because that’s all there were!

Buyers are Soaking up the Housing Inventory!

What’s happening in the Denver market?  We have a shortage in inventory and an abundance of buyers.  Our inventory is getting soaked up by anxious buyers wanting to become home owners before the interest rates go up.

Take a look at the 7-day stats for these Metro Denver Counties, look at the number of listings taken vs. the number of Under Contract.  That should explain why finding homes to look at is so difficult right now.

Sales Activity in Metro Denver Counties over the last 7-Days

MarketWatch-Denver

City and County of Denver

Jefferson County

Jefferson County

Elbert County

Elbert County

Broomfield County

Broomfield County

MarketWatch-Arapahoe County

Arapahoe County

Adams County

Adams County

 What Does This Mean for Buyers?

If you are in the market to purchase a home, you will need to be ready.  Many homes are receiving multiple bids that means buyers who are qualified to buy and can prove it will win the bid.  Bidding wars can be brutal but have become a fact of life in the Denver real estate market, so be ready to bid over list price.  If you are a buyer who has a contingency ( a house to sell) sell your home and remove that contingency.  The reality is, the home owner is going to pick the BEST bidder from all the offers. The best may or may not be the highest net to them.  Sellers want to be assured their home will sell, so they look at many factors, including the buyer’s ability to sell, contingencies and net proceeds.

What Does This Mean for Sellers?

After many years of getting beaten up sellers are finally in the driver’s seat when it comes to negotiation.  Sellers are enjoying the luxury of very few days on market, multiple offers, over list price offers and quick closings.

Still sellers need to beware that many buyers will over bid your home knowing it won’t appraise.  If the buyer doesn’t have the means to pay the difference you won’t be enjoying that extra cash from the sale of your home.  If this is the case be sure your buyer has the ability and is WILLING to pay the difference. If they aren’t able and not willing their offer is just a cloud of wishful dust.  All you will have to show from this contract is wasted time!

What Does the Future Hold?

At this rate I am wondering if in April we will reach a point where there are ZERO listings to sell?  Is it possible?  I certainly hope not.

What do you think? Will we run out of properties to sell or will sellers decide to get into the market?

By the way out of my 4 buyers I found homes and went under contract for two of them.  The other two are still in the market.  We will continue our search!

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100 in 100 Denver Real Estate & Relocation Tips (day 4)

Metro Denver County Map & Links

100 Real Estate & Relocation Tips in 100 Days (Day 4)

The megalopolis called Denver often spans territory far beyond the actual boundaries of the City and County of Denver.  In fact, metro Denver covers at least 9 counties and is growing.

When relocating to the area, most begin with a search for “Denver Real Estate” knowing all the while they probably won’t end up in Denver, but in some close in city, neighborhood or ‘burb.

When researching the areas, it is important to know what county you are in.  Each Colorado County has it’s own tax base, Assessor, County Commissioners, Clerk & Recorder, Sheriff and Treasurer.

This map will give a good overview of the county’s relative position to Denver.

Have a Question on Land Use, Taxes, Zoning?

Call the county where you live or plan to locate.  The county usually has the answer to your question, or can direct you to where you can find the answer.

Emergency Alerts

Some counties are utilizing technology to alert citizens to emergency notices , updates on general news and events via email.  Counties also offer alerts for registered sex offenders living in the area.

Colorado County Websites are Great Resources

County websites are full of valuable information.  I’m finding they get better and better each year.  Be sure to check out a few different counties to see what I mean.  Enjoy Surfing the County Websites!

Links to Metro Denver County Websites

Adams County City and County of Denver
Arapahoe County Douglas County
Boulder County Gilpin County
Broomfield City and County Jefferson County
Clear Creek County Park County

Copyright Kristal Kraft ~ all Rights Reserved

About 100 Real Estate and Relocation Tips In 100 Days

This series of 100 tips in 100 days is a crash course in all the questions I’ve ever been asked about Denver, Colorado and purchasing a home here. If a move is in your future, you will find this series helpful, be sure to subscribe to the RSS feed or add the RSS to your Outlook, so as to not miss a post!

Relocation far or near comes with questions.

As relocation specialists we work with home buyers to answer questions and solve problems. If you are uncertain of where to live or what your next move should be, we can help. We cover the entire scope of your transfer to and from Denver, initial consultation, area tour, financing, house hunting, negotiation, closing and move-in, we are there for you.

Our mascot, Dew Bugus is a cute little guy who really likes it when you “bug us”! You now have permission to call, email, or fill out this Denver Relocation form with your questions on Denver neighborhoods and all the other things that are worrisome right now! We can put your concerns at rest.

We look forward to your call.