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So naturally, when you're ready to buy or sell your home start with REcolorado first. Understanding the housing market gives you confidence when buying and selling a home. That’s why we provide monthly updates with the latest housing market statistics and insights.
Contact us today to begin your home buying or selling experience with First Colorado Land Office. That yearning for space didn’t stop at the front door; houses with expansive yards and unfettered access to nature were also at a premium. Part of that demand likely can be traced to the fact that outdoor recreation was some of the only recreation available. It’s also fair to assume that people were simply lured away from dense, presumably virus-y spaces to places where they felt free to inhale deeply.
If there was one , it immediately went under contract. It got very discouraging." The two properties she did manage to bid on had multiple cash offers. "I’m not competing against any of these people," she says. "It felt completely out of reach." After a few tears, Gillcrist had decided to quit searching, but her agent convinced her to check out a few last townhouses before hitting pause. For inspections, buyers also often have had to stipulate that they wouldn’t negotiate over anything but major issues.
In a chicken-or-egg dilemma, the more intense competition for houses became, the less potential sellers wanted to put their homes on the market, for fear of not being able to find another one. Compounding the problem, says CU’s Billings, was that new construction had been lagging statewide for more than a decade. Take that dwindling supply and add a surge in prospective buyers—particularly mobile, wealthy ones coming from out of state—and you get Olympic-level competition among bidders and ballooning prices. "It took about the highest level of making aggressive offers that I’ve ever seen" to land a house, says Todd Gullette, managing broker at Re/Max of Boulder. Just as the pandemic has revealed existing inequities in access to health care, it has also exacerbated the gap between the haves and the have-nots in housing.
This is a one-stop real estate website for all your quick home sell buying and selling needs in Colorado. Professional development is essential to your career growth. CAR offers a free live webcast program, opportunities to advance through an Emerging Professionals Program, and multiple opportunities for in-person professional development. CENTURY 21®, the CENTURY 21 Logo and C21® are service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but not guaranteed accurate. Additionally, licensed professionals can find updates on licensing deadlines, opportunities for stakeholder engagement, and important practice guidance matters.
Steps like these all but eliminate risk to the seller, forcing buyers to gamble with more costs—potentially a lot more. Appraisal gaps became a major concern, says broker Neuhaus. "Bidding wars have been pushing prices up higher than comps," she says, referring to the other recently sold homes in an area that appraisers use to determine a home’s value. Committing to a price no matter what the appraiser says is a risky move. Say a buyer offers $700,000, but the appraisal deems the house worth only $650,000. Banks would only lend up to $650,000, and buyers would have to come up with $50,000 in cash to cover the difference.
Contact a local real estate professional or the school district for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services. Nothing is more important when trying to sell your home than knowing your local real estate market and pricing your home correctly.