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Old 08-27-2011, 10:26 AM
 
Location: Denver, CO
1,627 posts, read 4,218,549 times
Reputation: 1783

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Seems to me as if investors have taken over as the primary real estate buyers in the Denver market (and driving reasonable housing costs out of range for some of us in their efforts to flip houses without many improvements.)

Insight? Experience? The market is pretty tight as it is, but it's making it very difficult to find a place to buy...to LIVE in.
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Old 08-27-2011, 10:55 AM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,711 posts, read 29,823,179 times
Reputation: 33301
Default Maybe

1 out of 3 sales a foreclosure in Colorado | Inside Real Estate News

My suggestions:
1. Find THE neighborhood you want to live in.
2. Look at Zillow to determine if you can afford to live there.
3. Walk the entire neighborhood to determine what blocks you really like.
4. Be patient and be prepared to act quickly.
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Old 08-27-2011, 04:26 PM
 
Location: Just south of Denver since 1989
11,826 posts, read 34,436,540 times
Reputation: 8971
Investors don't have control over any segment of the market.

Investors are buying and rehabbing some properties, because the first time home buyers are not buying.

They can only sell what people are willing to buy.

The market is only as tight as you think it is. Are you too narrow in your focus?
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Old 08-27-2011, 04:49 PM
 
Location: Colorado
6,804 posts, read 9,354,170 times
Reputation: 8827
I'm guessing it's because buyers might be having a hard time with getting financing while investors can (sometimes) pay cash for a property. OR, it's possible that buyers are afraid and simply not buying.

Just out of curiosity, which neighborhood(s) are you looking in?
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Old 08-27-2011, 06:05 PM
 
26,212 posts, read 49,044,521 times
Reputation: 31781
Another aspect is the outlook of buyers and/or investors:
- If their outlook is INflationary they will BUY NOW in the thinking that prices will only be higher if they wait.
- If their outlook is DEflationary they will WAIT in the thinking that prices will come down some more if they don't buy now.
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Old 08-28-2011, 01:17 PM
 
Location: Denver
9,963 posts, read 18,499,454 times
Reputation: 6181
Quote:
Originally Posted by davebarnes View Post
1 out of 3 sales a foreclosure in Colorado | Inside Real Estate News

My suggestions:
1. Find THE neighborhood you want to live in.
2. Look at Zillow to determine if you can afford to live there.
3. Walk the entire neighborhood to determine what blocks you really like.
4. Be patient and be prepared to act quickly.
This is pretty much how we just got a great deal on a 2000 sq ft 1922 bungalow in Congress Park for 60k under the market.

It took us 9 months and many offers where people were asking for far too much. Finally we would find our house after it was only on the market for 2 days, we put a pull price offer and the deal is under contract now.

Know the area's pricing, when you see a deal, jump on it. Conversely when you see a robbery, run away. Patience patience patience.

Last edited by Mach50; 08-28-2011 at 02:27 PM..
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Old 08-28-2011, 06:00 PM
 
Location: Denver, CO
1,627 posts, read 4,218,549 times
Reputation: 1783
Great insights. Sometimes it gets easy to be blinded by impressions and it helps to have outside perspectives.
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Old 08-28-2011, 06:05 PM
 
Location: Denver
9,963 posts, read 18,499,454 times
Reputation: 6181
Quote:
Originally Posted by Mach50 View Post
This is pretty much how we just got a great deal on a 2000 sq ft 1922 bungalow in Congress Park for 60k under the market.

It took us 9 months and many offers where people were asking for far too much. Finally we would find our house after it was only on the market for 2 days, we put a pull price offer and the deal is under contract now.

Know the area's pricing, when you see a deal, jump on it. Conversely when you see a robbery, run away. Patience patience patience.
I meant a full price offer...too many Coronitas for me today
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