Denver Real Estate Market - Is there another offer?

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Real Estate Broker/Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 Denver Real Estate Market - Is there another offer?

In this fast paced Denver real estate market, buyers are having to make quick decisions at Home for Saletimes, and this is extremely difficult for the first time home buyers.      This is the largest purchase you will make, and the need to “sleep on it” is very common.



At times my buyers ask --- could you let us know if they get an offer?     I have the conversation at this point with the buyer, would you rather be in a bidding war, or get the home at your price?      One would hope the agents are telling the truth, but have What should I Do?seen where there supposedly was an offer, but funny thing, the home never went under contract.   Each buyer reacts differently and make decisions in different timeframes.      In this Denver real estate market, currently we are seeing many multiple offers and in very few days/hours after the home hits the market.



I remember one incident a few years ago, this home was out of town a ways, and had been on the market for almost a year.    OF COURSE, after our showing, the agent called and told us there was another offer.     My buyers thought that was strange timing, and still offered lower than list price.    THEY LOST THE BIDDING WAR BY $1,000 and was the home they really wanted.     


As a Denver Realtor, I like to tell my buyers --- if you love this home, then write on it.   Today's market does not allow for low-ball offers (in most cases), so when you do offer, make it one you can live with.    If you don’tlove it, then another home will come along that works better for your needs.    This way it doesn’t matter if there is another offer or not.     

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, ABR, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

Neighborhoods in Denver

 
  A Denver Metropolitan Realtor

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Rainmaker
1,130,642
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Oh Joan, there must be some school that promotes this kind of thinking with buyers...i always say if you want it do not wait...so true!

Aug 10, 2012 11:01 AM #1
Rainmaker
677,504
Mary Yonkers
Alan Kells 1-814-881-7548 - Erie, PA
Erie/PA Real Estate Instructor

Excellent advice, Joan.  I always ask the buyers how they would feel if someone else gets the house.  That question helps them figure out how much they really want the house.  If they can't answer the question then I say 'Let's move on to other properties.'  That question helps, too.

Good post.  I will SUGGEST.

Aug 10, 2012 11:09 AM #2
Rainmaker
453,960
Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

It is the same scenario here as well.  I often get asked by the buyer "what did the other offers come in at, so I can outbid them"?  My reply often is.....If I get that information from the listing agent, don't you think they are going to tell the other buyer(s) about your offer?  Write your best offer, in a multiple offer situation, one cannot try to low ball.

 

Aug 10, 2012 11:09 AM #3
Rainmaker
611,221
Sharon Lee
Sharon Lee's Virtual Assistance - Hurt, VA

Joan-This great advice. Too bad some buyers don't listen,

Aug 10, 2012 11:11 AM #4
Rainmaker
1,473,037
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Joan: That is great advice...if buyers love a home they need to go ahead and put in an offer.

Aug 10, 2012 11:15 AM #5
Rainmaker
1,544,287
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Joan, Buyers have to stop listening to the media and start realizing that times are changing in Denver and across the country.  Buyers, if you like a house, make an offer on it now before you lose out on a great opportunity…

Aug 10, 2012 11:49 AM #6
Ambassador
1,785,588
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor & Dunedin FL Residential Real Estate

Waiting to put in an offer is the BEST way NOT to get the home! I don't understand why some people do that....

Aug 10, 2012 12:02 PM #7
Rainer
185,421
Irene Durocher
Coldwell Banker BUYERS AGENT - Boca Raton, FL
homesweethome4u@att.net

Hi Joan, like they say you snooze you loose . Have a great day .

Aug 10, 2012 04:50 PM #8
Ambassador
958,850
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

You guys are really rockin up there. Hopefully the multiple offer bug will bite us soon. Inventory is down. Now we just need more buyers.

Aug 10, 2012 06:27 PM #9
Rainmaker
727,504
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Joan, in this hot market, properties priced to sell would receive multiple offers. Normally I will ask the buyer, if you loss the bid will you regret? Most of the time it work. Have a wonderful weekend.    

Aug 11, 2012 03:14 AM #10
Rainmaker
1,477,595
Rebecca Gaujot, the GO TO REALTOR
Coldwell Banker Stuart & Watts Real Estate - Lewisburg, WV
Lewisburg WV Real Estate, Greenbrier County

Hi Joan, so true...buyers in Denver...if you find a home you truly want...write an offer, don't wait.

Aug 11, 2012 06:10 AM #11
Ambassador
1,320,131
Toni Weidman
Re/Max Sunset Realty - Trinity, FL
23 Years Selling Homes in New Port Richey, FL

Joan - I agree and tell them if they love the home, what are they waiting for and don't bid too low. 

Aug 11, 2012 07:16 AM #12
Rainmaker
662,854
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

In a hot market where multiple bids typically come in, the buyer making a quick decision is so essential.

Aug 11, 2012 08:14 AM #13
Rainmaker
1,535,371
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It helps as the Realtor to know how badly the buyers want the house, and to guide them in the right direction!

Aug 12, 2012 05:10 PM #14
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Rainmaker
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Joan Cox

Denver Real Estate - Selling One Home at a Time
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