Welcome to spring 2016 in Denver, CO. Our real estate market is still in a seller’s market. A seller’s market is created when there is a low supply of homes for sale. Here are our tips for you to win this year!
Selling your house:
1. Smart pricing pays. Comparable sales are always important to determine the value of your house. In a seller’s market you can ask on the high side and expect your house to sell. Take a close look at similar homes that are currently for sale and evaluate the options that buyers have to choose from. Price your home so it creates value to buyers and it is slightly above the current market value.
2. Prepare for a rush. Buyers are swarming homes as they come on the market because they don’t have much to choose from. Make sure you correct any drawbacks that will jump out to potential buyers prior to starting showings. First impressions are lasting impressions.
3. You are in control. Let your agent know if you have a preferred closing date, want an as-is offer, or anything else that is significant to you. A motivated buyer will meet your needs.
4. Have your agent do “Coming Soon” marketing for the house. This will allow all buyers a chance to see the house when it comes on the market and it gives you more options to find the right buyer.
Buying a house:
1. Get pre-approved for your loan if you are obtaining financing, or prepare a proof of funds letter to buy with cash. Nothing is more attractive than a buyer that has their money in order. Our preferred lender prepares buyers so well that they can compete with cash offers and sellers love it!
2. Know what is important to the seller. Often times the highest price does not win. If you can prove that you are a qualified buyer, set short inspection and financing timelines, and meet the needs of the seller you can win.
3. Be ready! If you see a house that you want, you need to make an offer quickly. Also, make sure your agent has assistance so you can see homes as they come on the market and at times that fit your schedule.
4. Be unique and organized. Offer something to the seller that other buyers won’t. This could be money over the appraised value, a home warranty to cover the house until closing, or take the house in as-is condition. I find that a lot of my offers are accepted because every piece of the offer is in the correct place. I personally present the offer to the listing agent, then I have the lender call the listing agent to give the “warm and fuzzy” about how great the buyers are. Once they see our communication is prompt and professional they want to work with us.
If you have any real estate questions let us know! Fast Response Guaranteed