Denver's Real Estate Market is Changing...Quickly

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Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786
https://activerain.com/droplet/s9y

Denver's Real Estate Market is Changing...Quickly

Denver real estate


In the last few months, buyers looking for Denver real estate have noticed the limited inventory available, and in some cases seeing multiple offers.  Showing homes on the weekends, Realtors are experiencing overlapping appointments with other Realtors and their clients.    Showings set for homes in the Denver Metro area have doubled from the previous year on Fridays, Saturdays and Sundays, but our inventory has increased minimally.



When the supply of active Denver home listings become limited, and the demand increases, we surely will see some pricing increases in the next few months.      With multiple bidding being prevalent, the need to know where the home will appraise is very important.    If the home does not appraise at contract value, and the buyer is obtaining a loan, the dollars offered in the contract over the appraised value will need to be added to the dollars needed for closing.

Home for sale

Example - Last weekend I showed a property new on the market one day --- 15 showings first day, 7 the next, and 4 offers were received.    This home was absolutely turnkey, great location, AND $15,000 higher than any other comparable sold property in the development.        

With the market changing, we as Realtors have to be sure our buyers and sellers are aware of these facts!   Working full time in this industry is very helpful to see the changes happening, and to be able to relay this pertinent information to buyers and sellers!


Real estate is local, it is important to know all markets are not the same!


I have 15 years of experience working with buyers and sellers working full time in the Denver metro area.    My involvement within my Realtor community keeps me abreast of local governmental changes and the current industry trends.

 

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Rainmaker
1,036,903
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Joan - lower inventory will certainly help turn the real estate market around ..... Buyers certainly need to be aware that past values will affect their appraisals and they may need extra cash on closing

Jan 30, 2012 03:08 AM #11
Ambassador
2,303,096
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Joan,  It is crazy right now in Denver.  We are running in to the same thing.  Such a great turn of events.

Jan 30, 2012 03:58 AM #12
Rainmaker
1,055,078
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Joan...we too are seeing an increase in Buyer activity, and low inventory build up. Our Winters seem to be the Hot time to Sell in Victoria. I was in a bidding war with one of my listings. Nice to see those times return.

You certainly know what's happening in your Real Estate Market

Jan 30, 2012 04:16 AM #13
Rainmaker
733,403
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I bet that owner who has multiple offers must be excited. I wish you a successful week.

Jan 30, 2012 06:13 AM #14
Rainmaker
99,688
David Artigliere
Reading, Pottstown, Norristown, Philadelphia - Collegeville, PA
ARTI Home Inspections, ASHI Certified Home Inspect

Joan, that is such exciting news for sellers!  I have felt bad for all those people with homes on the market that really need to sell and it's good to hear that inventory is moving well in Denver!

Jan 30, 2012 08:35 AM #15
Rainmaker
4,312,158
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It is very crazy in Denver, almost back to the days in the 90's....Woo Hoo!     Today was setting showings for tomorrow's out of state buyer, and three that went on the market over the weekend, are already U/C!    I had two buyers write on properties over the weekend, and waiting for answers!     

Jan 30, 2012 08:38 AM #16
Ambassador
2,081,619
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Wonderful to hear positive news about the real estate market out there in Colorado!!

Jan 30, 2012 09:15 AM #17
Rainmaker
2,558,030
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Joan, you must really be a busy bee as your market is doing sooooo well. 

Jan 30, 2012 10:48 AM #18
Rainmaker
616,730
Paula Bradfield
Bradfield Ramsey Group - Salida, CO
Your Salida Colorado area Realtor Team

Wow, Joan. We are not there yet but activity IS picking up and inventory is not. Good news for colorado, yes? I hope the listing was yours or one of the offers was!

Jan 30, 2012 11:29 AM #19
Rainmaker
953,209
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Joan, in our area,any property that priced right it will receive multiple offers, but our inventory is not as low as yours.

Jan 30, 2012 12:10 PM #20
Rainmaker
648,604
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Joan,

I've been catching up on all my industry news today and keeping local is the key for 2012.  All over the country things are changing but we need to keep our buyers and sellers aware of local happenings so they are better informed.  You do a great job of this for sure!!!!

Have a great evening!

Jan 30, 2012 12:26 PM #21
Rainmaker
1,607,755
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

Sound like things are moving up and hopefully this will continue but I think the other shoe is about to drop

Jan 30, 2012 01:53 PM #22
Rainmaker
2,867,834
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Joan,  We are seeing that in my area as well. Supply down - demand up!  Indeed Buyers will find out quickly when their offer is not accepted.  Joan Cox knows how to write winning offers in the Denver Metro area.

Jan 30, 2012 02:00 PM #23
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Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®
No wonder you are always so busy! Good for you, girlfriend!
Jan 31, 2012 07:19 AM #24
Ambassador
2,010,991
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Joan, finally! That's definitely encouraging news for sellers!  Maybe a little stressful too with all those showings and multiple demands from all sides... but doesn't it feel great, too?

Jan 31, 2012 01:02 PM #25
Rainmaker
845,499
Barbara Altieri
Kinard Realty Group Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Joan -- Supply down....prices UP.  Better call Joan Cox, experienced Denver REALTOR NOW!

Jan 31, 2012 02:15 PM #26
Ambassador
1,654,594
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Joan that is great news, limited inventory will mean buyers will have to be more decisive and seller will be happy to get higher sale price due to the multiple offer situation.

Jan 31, 2012 02:19 PM #27
Rainer
251,980
Karen Hawkins, MBA - Langley & Surrey, BC
Royal Pro Real Estate Network - Langley, BC

You're so right, Joan, it's at times like this that a real estate professional is so important to help ensure buyers understand all of the implications - great post!

Jan 31, 2012 03:14 PM #28
Rainmaker
552,364
The Scott Loper Team Bux-Mont Premier Properties
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Joan,

All real estate is local and it sounds like Denver is doing just fine!  Very positive news!

Lisa

Feb 02, 2012 12:19 AM #29
Rainmaker
4,312,158
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In the last 3 weeks, I have 7 properties under contract, and still need to list 3, and have 3 more buyers to find homes for....it is changing QUICKLY!

Feb 03, 2012 03:25 AM #30
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Rainmaker
4,312,158

Joan Cox

Denver Real Estate - Selling One Home at a Time
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