Homes are selling! I know, because I am selling some. Many are priced right and are selling quickly. Or, they are selling quickly after a sometimes dramatic price drop. In some cases, the drop is preceding a bank foreclosure, and sometimes the drop is following a bank foreclosure.
I showed a condo in a downtown high-rise a few days ago that was an UNBELIEVABLE price. For a "fix and flip" investor, this property was a trashed gold mine. The price had dropped $71,000 after the foreclosure. For a spacious unit with 180 degree views, if I had cash available, I would have put in an offer!
Whether or not a house sells in today's market comes down to two factors. The first, as always, will be location. If a buyer isn't looking in a certain location to begin with, an available property will not be considered. Further, within the same building or neighborhood, certain locations will win over less desirable ones when getting offers.
The second, and a "bigger" factor than a few years ago, is the price. From times in Denver when you would no sooner see a sign up (if it got that far), and a property was under contract, today, there are many others on the market from which to choose, and if a seller won't budge at all on price, a buyer may go to the next door.
Another place to tap into if looking for a home today is with new build communities. Many builders are giving so many incentives, particularly when it comes to spec homes that are ready close. Builders typically like to get these homes sold and closed and off their books before the end of the calendar year.
Why not consider taking advantage of one of these opportunities today?
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