Denver Home Buyers are loosing Bargaining Power
Home Buyers are loosing Bargaining Power
Recently home buyers have been holding a lot of bargaining and negotiating power in the Denver area housing market the last few years, more of the buyers are saying they are feeling the market shift against them, according to a new survey. It is now a Sellers Market and buyers must realize they must bring a good and fair offer if they want the home.
Seven out of ten Colorado home buyers say they’ve faced competition on a home for at least one offer, and if the home is priced right there may be many offers. According to a recent survey of 982 buyers in 19 markets conducted by Redfin. Of those Buyers that were surveyed, 46 percent say now is a good time to purchase a home — that’s down from 56 percent in the first quarter. On the other hand, the number of those who are saying it’s a good time to sell grew by 13 percent in that period. Thirty-two percent of home sellers now say it’s a good time to sell.
Many home buyers who emerged from hibernation this spring eager to take advantage of low rates and near-bottom prices now seem to have become demoralized and frustrated by the intense competition for a limited selection of homes for sale,
Most Denver area Home Buyers may feel more urgency now as well. The survey found the number of buyers expecting home prices to rise drastically grew with 61 percent say prices will rise compared to 32 percent during the first quarter. However, they are reluctant to get in a multiple-offer situation. Thirty-one percent of those surveyed said that if they faced a multiple-offer situation, they would back off. At Kenna Real Estate we can and will let you know when the home you want comes available so you can get to the Home first with your offer, You can even offer from out site. We are ready to get you out there and get you the home you are dreaming about. Now is the time to buy with Denver area home prices on the rise. Highlands Ranch, Co home prices have risen over 4% since 2011 and continue to rise!
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