Denver home buyers can find Denver homes under $250,000. The median price was down 15% in November, compared to the same time in 2007. The median price was $195,000.
Colorado has not been hit as badly as the California, Florida and Las Vegas markets. Those markets have seen drops up to 40%.
However, some neighborhoods are actually seller’s markets. Homes in the $150,000 range often times have several offers on them. So, buyers need to understand that sometimes making a full price offer with no other contingencies does not guarantee they will get the home. Making a really low offer does not serve your interest.
We have less inventory of homes on the market at the moment, but it doesn’t affect the buyer significantly. The cause of this is due to the decline in foreclosures and many home owners are taking their homes off the market for the holidays.
Buyers in higher price ranges can negotiate well with sellers who right now are seeing little movement in their neighborhoods.
All you need are good credit scores, a down payment, a sense of humor and some patience!
