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A recent study done by the Denver Metro Realtors Association show that there are more houses being put under contact, But houses that are falling out of contract are at an alarming rate.
1 in 5 home purchases fell through in April, which is double the monthly average. There are many reasons for this up spike in homes not getting to the closing table. The fierce competition has forced Buyers to offer more then they typically set out to offer just to get the chance to get a house under-contract. Buyers are
Offering Way Over list list price- which has many buyers not getting the appraised value for the home, which makes it much harder to get a loan
Waiving Inspection - which results in more houses falling through due to major problems that later wont be negotiated.
Waiving Appraisal objection – which has buyer searching for money to bring to the table to account for the appraisal shortfall which ive seen be into the 10’s of thousands
As the inventory goes up as it did in May 16.3%, the problems with house contracts falling through should ease. The Price increase on houses has eased a little and this should make it easier for buyer to make sensible offers that have less chance of falling through.
Now is the time to sell, call me for the path to reaching your real estate goals
Kevin Fletcher and is a Denver native working with Exit Realty of Cherry Creek. Kevin specializes in helping Buyers, Sellers and Investors with real estate transactions in the Denver Metro Area. Within Denver, I have intimate knowledge of the Park Hill, Stapleton, City Park, and Baker Neighborhoods. Kevin Fletcher can also assist buyers looking for Fix and Flips, and rental properties. I can help with securing financing, investment analysis, rehab, and property management.To get an expert opinion on what your home is worth, or for a Buyer consultation, Call/Text or Email Kevin Fletcher at 303-818-4130, Kevin@exitrealtycherrycreek.com
My name is Kevin Fletcher and I am a Denver native working with Exit Realty of Cherry Creek. I specialize in helping buyers, sellers and investors with real estate transactions in the Denver Metro Are....
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