Denver Real Estate Market Update

The current inventory of homes and how it makes it so much harder for buyers to find a home in Continue reading

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Centennial Townhouse for sale

Astounding open plan! Perfect for entertaining! Great room with vaults opens to the loft. Sumptuous Master suite offers a private Continue reading

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Denver Realtor most asked question

Denver Realtor Pete Doty, talks about sellers biggest question

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Sonnie Sings Mornings Inocent

Composed by Gwyneth Walker with permission, sung by Angela Doty, video by Proud papa

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The day to go on the market in Denver

Denver realtor talks about homes going into the MLS

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Negotiate a killer deal in Denver.wmv

Denver Realtor offers advice on how to approach a seller with an offer to buy a home in Highlands Ranch Continue reading

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Make a killer deal in Denver Real Estate

Denver Realtor gives Advice on making that killer deal in Denver

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What day do I go on the market in Denver?

In this day and age of electronic notifications Denver Home Buyers are getting property notices within 24 hours of the home going on the market. What day is best to list your home in the multiple listing service in Denver? Hmmm? I was thinking it would be Tuesday and that I would see lots of new listings coming on the market on Wednesday (I set up my own search & notification). Guess what???

I get more listing in Highlands Ranch on Saturday mornings than I do any other day. Last week there were 17 that got listed on Thursday and 18 that got listed on Friday and showed up in my e-mail on Saturday morning. pretty well too late to get out and see them. Now, they are in the Denver MLS but why would you want to wait? By the way Tuesday was next best with 18.

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Clever Buyers Negotiate a better Deal on Denver Real Estate

As buyers get more in tune with the Denver Real Estate market they will discover that sweet honey does a lot to help the seller agree to your price. Frankly no one cares what the other Denver homes sold for, only what this home will sell for; so do not start the battle of comparables…it does not work (see previous post).

There are 3 types of negotiating:

#1 Offer what they are asking…certainly not in most markets, but often required to be the one who actually buys a home in an accelerating market.

#2 LOWBALL the seller. Feel free to insult the Seller by saying they are crazy for offering their home for such a ridiculous price. The battle of comparable properties is never won by the “smartest” person at the table, but rather the one who can outlast the other, more often the Seller who you have just ticked off. Determining the motivation of the seller is part of the selling agent’s job. And they really have to ask those questions well. The Seller normally will not give in.

#3 Close Enough or KICK in the SHIN negotiating: If you were the Seller, and you had priced your home at $X, what would you be willing to take? Then slice it a little thinner and offer a hair less. Most Denver sellers will have a price in mind when they put their home on the market and a clever buyer will see what that number is and then offer a little bit less expecting someone to say “I am tired of cleaning, vacuuming, taking care of…” TAKE THIS OFFER. IT IS CLOSE ENOUGH! Can’t you almost feel the jab in the ribs or kick in your shin here?

Yes, I am willing to help anyone negotiate a good deal, in any manner they want, but experience has proven over & over in thisDenverreal estate market that a clever buyer can get a better deal than a brute force buyer who low balls the seller. If you want to talk about this, call Pete Doty, Denver Realtor at 303-880-5585.

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Negotiating That Killer Denver Real Estate Deal

Denver home buyers are a bit frustrated, thinking the sellers have to accept low ball offers. And they are being rejected. Sellers are getting multiple offers. Will low ball offers still work? This Denver Realtor says “Don’t do it!”.

The fact that the inventory of homes available (forget that the foreclosure and short sale homes in Denver that were driving prices lower early last year have left the market) seems to have eluded some folks. I still hear Realtors across the country advising their clients (but not in so many words) that it is OK to insult the seller, and tell them their home is not worth what they are asking by saying the comparables do not support the price. Naturally theDenver listing agent’s pride is also damaged at the same time (as hard as I try not to let it affect me, I do get angry when I start to get my nose shoved in it, without cause).

I do not think theDenverbuyer’s agent has missed the point that the market has changed. They do owe a duty and obligation to their client to present any offer the client wishes to make, but at what cost? A seller who thinks your offer is a joke, or is offended, is much less likely to negotiate a fair deal with you. So what is gained?

Here is the bit the Buyers may be missing regarding their offer…It does not matter what the other houses sold for last year. That is old news. What matters to the appraiser first is that there are comparable sold properties that have sold for the same or higher price in the last 6 months, and that when adjusted for improvements, location, condition, they will support the contract price for this property. Then the appraiser checks to see if the property could be replaced by others on the market at a lower price, and then adjusts for improvements, location and condition.

It is interesting to note that back in the height of theDenverreal estate market there were so few homes available we counseled our buyers that the best price we might be able to get for them was getting them there first. In our sales meetings we used to joke that the market would catch up to our price if we were patient.

Today, inDenver, our single family home real estate market has 40% fewer available properties versus this time in 2011, while the number of closed sales are up 12% in February. This means the Seller has more prospective buyers per house for sale and is more likely to have multiple offers.

More to come…

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