Denver Real Estate Market - Is there another offer?

In this fast paced Denver real estate market, buyers are having to make quick decisions at Home for Saletimes, and this is extremely difficult for the first time home buyers.      This is the largest purchase you will make, and the need to “sleep on it” is very common.



At times my buyers ask --- could you let us know if they get an offer?     I have the conversation at this point with the buyer, would you rather be in a bidding war, or get the home at your price?      One would hope the agents are telling the truth, but have What should I Do?seen where there supposedly was an offer, but funny thing, the home never went under contract.   Each buyer reacts differently and make decisions in different timeframes.      In this Denver real estate market, currently we are seeing many multiple offers and in very few days/hours after the home hits the market.



I remember one incident a few years ago, this home was out of town a ways, and had been on the market for almost a year.    OF COURSE, after our showing, the agent called and told us there was another offer.     My buyers thought that was strange timing, and still offered lower than list price.    THEY LOST THE BIDDING WAR BY $1,000 and was the home they really wanted.     


As a Denver Realtor, I like to tell my buyers --- if you love this home, then write on it.   Today's market does not allow for low-ball offers (in most cases), so when you do offer, make it one you can live with.    If you don’tlove it, then another home will come along that works better for your needs.    This way it doesn’t matter if there is another offer or not.     

 

 

 

 

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14 Comments on Denver Real Estate Market - Is there another offer?

AUG
10
798,431 Points 80 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Oh Joan, there must be some school that promotes this kind of thinking with buyers...i always say if you want it do not wait...so true!
11:01am • #1
534,754 Points 8 Featured Posts Outside Blog Called Shot Master

Excellent advice, Joan.  I always ask the buyers how they would feel if someone else gets the house.  That question helps them figure out how much they really want the house.  If they can't answer the question then I say 'Let's move on to other properties.'  That question helps, too.

Good post.  I will SUGGEST.
11:09am • #2
320,468 Points 4 Featured Posts Outside Blog Hit Router Called Shot Master

It is the same scenario here as well.  I often get asked by the buyer "what did the other offers come in at, so I can outbid them"?  My reply often is.....If I get that information from the listing agent, don't you think they are going to tell the other buyer(s) about your offer?  Write your best offer, in a multiple offer situation, one cannot try to low ball.

 
11:09am • #3
465,957 Points 9 Featured Posts Called Shot Master

Joan-This great advice. Too bad some buyers don't listen,
11:11am • #4
939,117 Points 74 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Joan: That is great advice...if buyers love a home they need to go ahead and put in an offer.
11:15am • #5
1,113,121 Points 72 Featured Posts

Joan, Buyers have to stop listening to the media and start realizing that times are changing in Denver and across the country.  Buyers, if you like a house, make an offer on it now before you lose out on a great opportunity…
11:49am • #6
1,348,130 Points 71 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Waiting to put in an offer is the BEST way NOT to get the home! I don't understand why some people do that....
12:02pm • #7
185,098 Points 2 Featured Posts Called Shot Master

Hi Joan, like they say you snooze you loose . Have a great day .
4:50pm • #8
478,639 Points 36 Featured Posts Called Shot Master

You guys are really rockin up there. Hopefully the multiple offer bug will bite us soon. Inventory is down. Now we just need more buyers.
6:27pm • #9
AUG
11
482,351 Points 4 Featured Posts Outside Blog Called Shot Master

Hi Joan, in this hot market, properties priced to sell would receive multiple offers. Normally I will ask the buyer, if you loss the bid will you regret? Most of the time it work. Have a wonderful weekend.    
3:14am • #10
1,100,255 Points 25 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hi Joan, so true...buyers in Denver...if you find a home you truly want...write an offer, don't wait.
6:10am • #11
900,176 Points 35 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Joan - I agree and tell them if they love the home, what are they waiting for and don't bid too low. 
7:16am • #12
620,899 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

In a hot market where multiple bids typically come in, the buyer making a quick decision is so essential.
8:14am • #13
AUG
12
959,171 Points 53 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It helps as the Realtor to know how badly the buyers want the house, and to guide them in the right direction!
5:10pm • #14


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Joan Cox, Denver Real Estate-720-231-6373

Denver, CO

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Metro Brokers - House to Home, Inc. - Denver Real Estate

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