While most markets are substantially down vs. the same time
last year, with a 49% increase, Denver sales are booming! If
you are looking to sell a home in Denver now is a great time!
In my opinion this is because buyers and investors recognize
and are taking advantage of value inherent in reduced prices.
In contrast, other local markets are down from 22% in Boulder
and Jefferson counties, to a whopping 64% in Broomfield. While
this is generally not good news for home sellers in those areas it
could mean substantial leverage for buyers as sellers become
increasingly desperate, including bank owned and properties in
foreclosure.
The outlook is not totally bleak however for sellers in declining
markets. If they can make the mental adjustment and accept
that they're not going to get as much for their homes as they
had expected, sellers can still come out ahead if they will be
upsizing. Even though they'll get less for their homes, they can
expect an even more substantial break when purchasing their
replacement homes. This is because more expensive homes
are likely to sell at more of a discount than the less expensive
home that they're selling.
If you would like to know more about the opportunities that are
available, whether as a buyer, seller or investor, please contact
me for more information.
Bob Krus
Keller Williams Foothills Realty
303 902 4948
email: bob@whataboutbobre.com
Web: www.whataboutbobre.com
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