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Why To Get Into The Real Estate Market In Denver NOW
Dated: February 6 2014
Not long ago, real estate in Denver was in the weeds. In January 2009, the average home price in the Mile High City hovered around $225,000, a 30 percent drop from the market’s peak in June 2007. Homes listed on the lower end were hit even harder, dipping by closer to 40 percent. But this grim picture is now history; in fact, Denver home prices have almost climbed back to their ’07 highs. And though the days of dialing a mortgage company and being approved for a no-doc loan are long gone, Denverites—and wannabe Denverites—are actually looking to buy homes: The number of houses sold in the Denver metro area in 2012 jumped 17.5 percent from 2011.
The catch? Per capita, there have never been fewer homes for sale in Denver. Why potential sellers aren’t selling is anyone’s guess. One theory suggests homeowners simply don’t realize that in the past year or two, their houses have appreciated by 10 to 20 percent—and sometimes more. Whatever the reason, the supply and demand of housing in Denver is out of whack—there are plenty of buyers, but almost no sellers. This is, of course, a potentially lucrative situation if you’re in the latter camp. “We probably have the strongest seller’s market we’ve ever had,” says Charles Roberts, co-owner of Denver’s Your Castle Real Estate. “Yet lots of people still don’t know about it.”
If would-be sellers realize how good the market is for them right now, come summer, Denver housing should see solid prices, quality buyers, and a healthy inventory. If the number of available properties remains low, however, bidding wars could inflate prices across the Front Range and once again create skyrocketing appreciation rates. For now, forget all that. If you’ve put off even thinking about selling your home since the market crashed, it’s time to focus, strategize, and (hopefully) capitalize on this seller’s utopia.
Michael Steffen Denver, Colorado Realtor-
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas;Denver, Arvada Aurora Bennett Byers Castle Pines Castle Rock Centennial Cherry Hills Village Columbine Valley Deer Trail Denver Elbert Englewood Franktown Greenwood Village Highlands Ranch Larkspur Littleton Lone Tree Parker Sedalia Sheridan Strasburg Watkins, Wheat Ridge, Lakewood, Castle Rock, Thornton, Westminster, Evergreen, Golden. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone!
My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....