Since January I have been working with a buyer who was beaten on price 3 times. In a Buyer’s market that is not supposed to happen, but it sure has been in the south Denver Suburbs. Wow.
I have previously posted how in February we had a listing we got multiple offers on and the Seller netted 20k more than asking. Two weeks ago we had another situation where the Seller had verbally accepted an offer when another offer made itself apparent. The Seller made the decision that his word was his bond and so we never looked at the 2nd offer. But we easily could have been in a multiple offer situation on this Highlands Ranch home.
So now, as I visit with Sellers and Buyers they need to know about the market and how they might need an escalation clause telling the Seller that they are willing to pay more than any other bonafide offer. Boy, that does not fit what the press is telling you does it? And I certainly cannot reconcile the national news of today, with prices falling 2% in Denver.
All I can say is the market is different in the south part of Denver and that in particular Highlands Ranch, Lone Tree, Castle Rock and Parker are holding prices up.
Should you need to buy a home in the Highlands Ranch area, make sure you take a look at how long properly priced homes are staying on the market. You need someone who really has a pulse and can interpret data, or just give it to you. Then hire them to represent you…me if you like. But make sure you are the winner on the house you want to buy.