Competition Drives Buyers Out

Dated: 10/06/2014

Views: 686

Denver, Colorado has been one of the most competitive housing markets in the nation over the past 6 months. Low inventory levels and an excess of buyers has created one of the most fiercely competitive markets in recent years. Unlike many areas around the nation, Denver has become one of the hottest locations for recreational activities and good jobs. Residents of the state have found themselves competing with the high number of workers moving into the state who are all in need of housing. The rental market has skyrocketed right along side the housing market thanks to low interest rates and simply put, not enough houses to accommodate the demand. 

Homes are listed on average 10 days or less in this competitive market and it is no surprise that many of them are receiving multiple offers in just a few days. Purchasing a resale home has become a nightmare for some as they have found that if they don't submit an offer on the spot they are going to miss out. Personally, I've shown over 50 homes in the last 2 weeks, and all of them are currently off the market, many for over list price. You're probably asking yourself, what are buyers supposed to do? The simple answer, move out. 
Whenever a metro market is hot buyers are forced to make tough decisions about where to live. The good news is that the decision doesn't have to be as hard as you think. With the market being as crazy as it is buyers can still find beautiful homes well within their price range, if they can handle a short drive. Areas around Colorado like Brighton, Green Valley Ranch, Parker, and Castle Rock offer some of the best deals for buyers willing to add 10-15 minutes to their commutes. 
Builders like Oakwood Homes, Lennar, Richmond, Ryland, DR Horton, and many others have been developing and building in these areas for years. They offer some of the most modern homes in the area and the best news, they are affordable. In a busy Denver Metro area like Highlands Ranch or Littleton, you'd be lucky to have the winning bid on any home under $300K. But, if your willing to drive 10-15 minutes south you can be in the heart of Castle Rock. Here you can build a brand new home, pick out all the finishes and get exactly what you want, and it's new. Best of all, there's no competition! Once you make the decision it's a simple as putting down a deposit and then watch your home get built from the dirt up. 
If you think this is something that might interest you, contact me for a free tour of the home of your dreams!
Matt Lawson is a real estate agent in Denver, Colorado who is a specialist in Aurora, Denver, Parker, Highlands Ranch, Littleton, and Castle Rock. Matt is a relocation expert who also specializes in assisting first time home buyers, investors, residential owners and buyers, and new construction. He will fight to get you the BEST DEAL possible whether you are buying or selling your home. You can contact Matt by phone at (303) 437-6103, email at Matt@exitrealtydtc.com, or by visiting his website at www.DenverTopHomes.Com. 
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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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