Increase in New Listings Give Buyers Hope
According to the Denver Metro Association of Realtors of for-sale home in Denver cratered at a record low of 3,592 listings in February. This unprecedented squeeze on for-sale inventory has most seriously impacted the "affordable home" buyer which has now been redefined, to most Buyer's dismay, as housing priced under $400,000.
This phenomena has had the most profound affect on first time home buyers and anyone hoping to purchase with FHA or VA financing. In the face of multiple offers on these "affordable" properties, less capitalized buyers often face overwhelming competition from cash buyers and others with larger down payments. When Sellers of properties in this price range review the multiple offers they commonly receive, (10 or more is not usual) the FHA and VA buyers with minimal or no down money simply can be competitive.
Our success in getting these clients shopping in this price range under contract has come as a result of our hard work and years of experience. Our success is a result of not only the strong reputation we've built in the Denver real estate community for overcoming obstacle and getting transactions closed, but more importantly the trust we build with the Listing brokers
The Denver Business Journal is reporting that "After reaching its lowest-ever point in February, home inventory in metro Denver bounced back a bit in March, boosted by the beginning of the spring selling season".
According to the Denver Metro Association of Realtors the number of active listings in metro Denver increased to 4,921 in March, up nearly 27 percent from February and up 9.7 percent year-over-year, according to data from the Denver Metro Association of Realtors.
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