The current market in Denver is booming. Part of the reason is because of how purchases are being made for Home Real Estate Denver. Here’s a hint: it’s not through lenders, banks and other mortgage companies.
Buyers are throwing down the gauntlet by paying in cash. In fact one third of the homes in Denver during the past year were purchased with cash. While the cash purchase percentage isn’t as large as other cities it is a growing trend in Colorado.
One reason why cash is pulling ahead is because of the difficulty some buyers have when trying to get a mortgage. Lenders and banks are tightening their wallets and mortgage rates are beginning to rise. Mortgage companies also add so many restrictions that it can shut out even the most qualified buyers. Denver area home buyers are using their business connections, generous family members and their wallet to make a statement. It’s a stress-free way around restrictions, contingencies and regulations. Buyers are also willing to pay cash at foreclosure auctions.
Cash is giving buyers another method to buy property. It gives them an upper hand over investors, lenders and bankers. It’s an alternate way around interest rates and other mortgage-related costs. Contact Metro Denver Luxury Homes for more information on Home Real Estate Denver and market trends.