The Buying Buzz in Metro Denver, Colorado

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by: Mari Takeshita

I’ve been in the real estate business for 21 years and this is now the 3rd time that I can say the business is crazy busy.

The first time started before I got into the Denver real estate industry.
I was told the pick up in business started in 1991, after the oil and gas recession. And that lasted for almost a decade! The second time was during the 8000 Stimulus which started in 2009 thru 2010.

During the 8000 Stimulus, the Denver Post stated that a buyer had averaged writing 8 offers to finally get a property under contract. That was a fun but grueling time in the industry. People that never thought they would own a home, were purchasing. It also helped to put a small dent into the enormous inventory of homes on the market at that time.

For Denver, 2012 was the beginning the new market change. I actually felt the difference in the market back in October of 2011. People were beginning to feel something in the air… And the market was about to make a shift. One client even called me on January 1, 2012.. Now that is getting first in line for the year!

The buzz was in the year all of 2012. Now, here we are April of 2013 and its multiple offers and some properties are sold before they even go on the market. How does a typical buyer purchase the home of their dreams, when a dozen or more other people feel the same way about the home you know should be yours? Be prepared to purchase.

To purchase a home means several things you need to do ahead of time. First, find the experienced Realtor who will help you prepare to join the exciting process of purchasing your home. Next, your
Realtor will help you by explaining the entire process of purchasing; from previewing homes to the closing. Your Realtor will also be able to recommend a loan officer that will assist you to determine which loan works best for you.

Once you have done these important first steps, you are now ready to begin previewing homes. By working with a competent Realtor, you will begin to view the right homes in the price point and location that is right for you. The Realtor will explain benefits of the area, such as shopping, recreation, and school districts.

With the pace of the market, be aggressive about your offer price. You will hear the words, “highest and best”, which means to give the best possible offer and the highest you are willing to pay. Buying a home in our market isn’t like buying a car. There are not enough homes to play the negotiation game. If you like the property, be aggressive. But make sure to buy what is still the right home for you and your family.

The key is to work with professionals from the very start of purchasing. I often hear that people try to look at homes on their own and its obvious they do not know what they are doing. This market is moving way to fast for a consumer to do this on their own. Also work with a Realtor that knows how to negotiate on your behalf. You don’t want to experience the “blind leading the blind” in this important financial decision.

Do your home work and find the right professional. The right Realtor and mortgage person are the key to a successful purchase of your “Home Sweet Home”.

Mari Takeshita
Your Realtor
Cherry Creek Properties llc
303-941-6274