My First Place {Denver Edition}

Lately, I have been working very hard to get first time homebuyers into Denver area homes-                                                                                                                    NOT as easy as you might think…

Right now, every home under $250k has 2-3 offers sitting on it already, and buyers have had to go full price or beyond to secure a home.  Really!? In this market you say??  It’s true- homes in the high demand $200-250k price range are HOT HOT HOT. This is amazing for sellers, and for buyers it is incredibly important to have a knowledgable, experienced agent on your side.

One purchase option, HUD homes {government owned foreclosured properties} are still a great investment option, but the process of purchasing a HUD or REO {bank-owned} property is more complicated than it once was. The red tape and convoluted communication process can be frustrating for both agents and clients, but a successful investment in this type of property can be well worth the hassle. If you dream of being the Donald Trump of Denver, and expanding your investment portfolio via the local real estate market, let me know. When navigating the tricky waters of foreclosure purchases, you’ll want a seasoned guide.

Here’s a really interesting fact about foreclosed properties: 80% of all foreclosures were never listed by an agent.  That means that most people who were foreclosed on never knew or wanted to know their options, and just walked away from their home. When I hear statistics like this, I just have to shake my head… If you know someone in trouble, give them my contact info. There are alternatives to foreclosure, and information is power, and HOPE, in this situation.

My biggest advice for sellers right now? SPRING IS HERE, and if you wait longer than April 15th to get your home on the market, you’ll have to compete with all the listings that come out in May and June. Waiting to list could make a big difference in the selling price of your home when you consider the extra competition you’ll be facing a month or two down the road. List now to keep the pricing odds in your favor at the closing table.

Stay tuned for part II of my home improvement post- tips on which improvements will add the most value to your home.

Jack Meyers

jackestate@aol.com

303.263.3050

Twitter: @jackestate

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