Trying to buy (yes, trying being the keyword) a house in Highlands Ranch, Centennial, Littleton, Arvada, Westminster, etc... under $250,000? So is everybody else. We have never seen anything like this! It's a frenzy out there.
- we pulled up 10 houses to show to a buyer LAST NIGHT - today when Brian was checking 5 were already UNDER CONTRACT
- Brian called to set up the showing on one house that the buyer is dying to see - the seller declined showing as they had already 11 showings TODAY
- Brian showed 5+ houses to another buyer and every single house had one or more showings at the same time
- we did a search for one of our buyers - only FOUR houses with their criteria came up - 60 were UNDER CONTRACT
There are a few problems we are facing in these situations.
- many houses show they are active, when in reality all that is being worked on it to get the seller signatures
- listings agents are not calling back! At all! It's really frustrating. We call before showing to make sure it's still available - nothing. We call after the showing if it's still available - nothing. Most of the time this translated into - the house is not available.
- not getting confirmation that our buyers offer has been received (see above)
So what can you do if you are TRYING to buy a house in these circumstances.
- be ready - have all your documents needed in order and ready to go (lender pre-approval letter or proof of funds, a check for Ernest Money etc.)
- be prepared to give your best and highest offer you are comfortable with (when there are 10 other offers in the mix - low offers are the first to be put on the bottom of the pile)
If somebody says it's a buyers market I'll probably scream :)
All this is happening under $250,000 price point. Luxury homes are a totally different ball game.
Disclaimer: Kenna Real Estate Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Copyright 2009.© Kenna Real Estate. Rita Burke. All Rights Reserved. Jul 7th 2009. ""