I feel like this current real estate market in Denver takes just as much persistence and patience by the Realtor and Buyer as the market in 2008.
-Low inventory – 3,500 houses on market
-Can take up to a year before buyers get under contract…
-Takes buyers 9-10 offers before they get under contract
-Contracts terminate at inspection because sellers won’t fix anything
-Offers don’t get accepted because buyers were not able to offer enough.
-It’s worth buying in this market due to the low interest rates.
-High inventory – 45,000 houses on market
-Buyers would take up to a year to look at homes because there were so many!
-Buyers would write 9-10 offers before they got the best deal accepted
-Contracts terminate at inspection because sellers could not afford to fix anything
-Offers didn’t get accepted because the buyers offered too low.
-It was worth buying homes in this market due to the prices.
So my point is, be patient. Don’t get discouraged, it will happen for you buyers!
Lexie White – Real Estate Team