Competing in a Bidding War When Relocating to Colorado

When relocating to Colorado area as part of a corporate relocation, it is not difficult to know whether to rent or to buy because rents are so high. At the same time, it is an extreme seller’s market in Denver so you will likely find yourself in a bidding war over the best properties.

sold-familyWith the help of a Realtor like me, who knows Denver well, you can get into a home that’s right for you without worrying about over-paying. According to a recent article by the Denver Post, the seller’s market hasn’t died down in Denver. For people who have been sitting on the fence, it means more money on rent and less money being built up in terms of equity. Fears of interest rate hikes that will affect how much home you can afford also motivates many relocating to Colorado to buy instead of rent.

Moving fast and staying competitive

The Denver Post reports that buyers continue to compete for real estate in Denver especially for the coveted properties such as those in hip Downtown Denver neighborhoods, country club homes, pool homes and golf course homes. Because it is a fast-moving market, it is critical to know what you want and what you are willing and qualified to spend before looking at homes. If you can’t move fast because you aren’t decided or don’t have your financing secure, the opportunities will slip past.

Paying higher prices for new homes

Some executives prefer to buy new when they move to Denver or any new community. I can help you find the best deals on new construction. If you are in a hurry, choose a home that’s already built. As the Denver Post reports, home prices for new construction continue to go up because of rising costs of materials, labor and demand. In some cases, you can grab a former model home in a closeout community.

Being prepared to negotiate

In a seller’s market, know that you are not as likely to get help covering closing costs or added buyer incentives that come in a buyer’s market. When you find a Denver loft, condo, townhouse or single-family home in your preferred neighborhood, I can present your best offer right away. Ignore cosmetic issues such as paint colors or landscaping that might deter other buyers.

For information on how to compete in a seller’s market for the nicest homes in the metro Denver area and help with relocating to Denver, please contact us.