When looking for a home in Denver, prepare for bidding wars for the most in-demand neighborhoods and coveted homes. To set your bid apart when house hunting in Cherry Hills Village, Hilltop, Wash Park, LoDo and other hip areas, work with an experienced real estate agent and follow a few expert tips. According to an article by businessinsider.com, housing inventory is low across the country. In some instances, sellers receive dozens of bids before one works out. Elbowing out the competition means knowing what sellers want. In the U.S., currently there are 12 percent fewer homes for sale compared to last year. Some buyers relocating to Denver search months, making multiple offers. But with the right plan, it’s possible to speed up the home-buying process. Spencer Rascoff, the CEO of Zillow, shared a few tips with businessinsider.com.
Picking a stellar agent
In a seller’s market, it pays to pick an outstanding real estate agent with personal connections. An agent advocates for you. Enjoy the free advice and guidance that often prevents home buyer’s regret and mistakes.
When buying a home in the Metro Denver area, stay patient but remain persistent. Don’t shy away from making multiple offers on homes. At the same time, have a specific budget in mind. Some people take the new tax reform laws into consideration by aiming for a home with taxes just around the $10,000 a year mark so they maximize their tax deductions.
Writing a letter to the seller
Some people find success by writing a thoughtful and heartfelt letter to the seller. While the approach isn’t for everyone, some buyers stand out. Always submit your letter to your real estate agent first to make sure it will help rather than hurt the bidding process. We can help you create a great “love letter.”
Loving more than one home
Having only one love works in relationships, but not with houses. While on the house hunt, avoid getting too hung up on one particular home or ranking homes in order of best to worst. Instead, find similar attributes that meet your practical needs. Consider adding your own “wow factor” with decor and small renovations after closing on the house.
Getting too attached to a specific home sets you up for failure. Instead, fall in love with a particular architectural style, a neighborhood or a floor plan. Talk to your real estate agent about homes that meet your specific criteria without putting out a list that’s too narrow or limiting. At The Principal Team, we help people relocating to the Denver area make offers on houses and understand how the home buying process works. For more advice on finding a great house, please contact us.