Many first time buyers are frustrated with the Denver Metro housing market currently as up to 24% of all buying offers are rejected given the lack of inventory and the bidding wars that have become the norm.
My four tips for Buyers are:
- Be first to the door. If you get a lead on a property, don’t hesitate, Jump on it!
- Cash is king and all cash offers are not uncommon. However, if you are not in that position, bring your lender’s pre-approval letter with you to a showing. Show that you are serious!
- Keeping the offer bumps to a minimum. Make your offer aggressive, no low balling. The least amount of roadblocks for the Sellers will get the prize.
- Be prepared to extend your buying search to areas outside your target area, especially if it is a desirable area where bidding wars are frequent. Consider a fixer upper. Focus on what you need to be comfortable. You can always trade up when the housing market quietens down and more new homes are built.
Most importantly, keep a positive attitude and happy house hunting. Give me a call. I offer free coaching to first time buyers 🙂
720-307-5280