I have to use both hands to track how many times a day that question is asked to me. And the truth is, in the Denver metro area things are not that bad. When I start to answer the question about the current real estate market that way, people look sceptical. But it really is the truth.
If you are trying to sell a home and it's in good condition and priced competitively, it will sell and it will sell quickly. For home owners who have lived in their homes for 5+ years, they usually can walk away on the positive side. If you live in the right area of Denver right now, your home could be experiencing double-digit appreciation annually.
Sure, the Denver area has its issues as well. There are pockets that have been labeled as depreciating by many appraisers which is making it challenging for buyers to close on their loan even if they are qualified. It seems that the area where the home is, is not qualified for the loan. This situation means REALTORS need to be even more diligent in their work and pay close attention to where their buyers are looking and ensure they can qualify for a loan in that area.
We do have our fair share of foreclosures as well. Nonetheless, I can imagine that the Denver market is looking dreamy to those in other areas of the nation right now. Our office is currently experiencing many transfer agents from the coasts.
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