Friday, September 12, 2008

No Statistics - Just stories

· Couple A want to buy a home in Cherry Creek Schools under $200,000. They have found very distressed properties and made 4 offers on 2 different homes. Both had multiple offers and they did not win the bidding war. They are still looking for a home. Their loan is approved.
· Buyer B wants to Buy in the Highlands or Edgewater area in Northwest Denver up to $220,000 and he wants a yard and a garage. He made an offer and it turned out it was a short sale. 5 and a half weeks later he was told it was available to him. He is still looking for the right home. His loan is approved.
· Couple C came to town Memorial Day weekend and found a home at 250,000. They made an offer. There were 2 other offers and he lost out. Since then they have rented a home and raised their price point to $325,000 but the properties they find for sale are all “short sales”. Their loan is approved and they are still looking.
· Buyer D wants to buy something close to where his son lives in south Jefferson County up to $185,000. He is nervous because of the stories in the press. Thought he could find a good, clean town house for 165,000 with a garage for his motorcycles and car. He has been forced to raise his price point to $185,000 and we are still looking. His loan is approved.
· First time Buyer E has down payment money and wants to buy something close to work in the Tech Center, up to $185,000. The first 4 homes he looked at all are “short sales” and already have multiple offers. His loan is approved.
Is it really a Buyers Market?
Until there are 2 Buyers for one house, yes.
Could it be we have passed the bottom
And are ALREADY looking back?

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