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Old 07-01-2014, 05:58 PM
 
6 posts, read 6,197 times
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We've had offers on five properties to the North (four in Arvada and one in Green Mountain) in the last month, all in the $400K - $465 range, 20% down buyers with a secure loan approved and in place and credit scores in the 800 range. THREE of the homes in the Arvada zip code 80004 have gone to cash buyers. None needed major remodel (so don't anticipate a fix and flip), and all seem large for rentals. Anyone? It's gone so far our buyers agent suggested borrowing the full amount against 401K or retirement to get in the cash game. Crazy...

Last edited by JodieMarie; 07-01-2014 at 07:14 PM..
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Old 07-01-2014, 06:31 PM
 
Location: Way up high
20,957 posts, read 26,788,098 times
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Someone else I know was in the same boat. Had offers of $20K over asking and got out bid. Finally they found something. You just need to be patient. I wouldn't borrow against your 401K or retirement for a house.
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Old 07-01-2014, 07:16 PM
 
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I wouldn't borrow against your 401K or retirement for a house.

Me either. Thanks for the note of encouragement.
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Old 07-02-2014, 10:22 AM
 
Location: Denver and Boston
2,072 posts, read 2,065,544 times
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I am confused. Who is 'we'? Are you an investor that has sold five houses in Arvada in the last month? A real estate agent whose RE company has listed five properties in Arvada in the last month? or just someone that lives in Arvada?
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Old 07-02-2014, 10:30 AM
 
Location: Littleton, CO
387 posts, read 602,764 times
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Quote:
Originally Posted by Robert5 View Post
I am confused. Who is 'we'? Are you an investor that has sold five houses in Arvada in the last month? A real estate agent whose RE company has listed five properties in Arvada in the last month? or just someone that lives in Arvada?
I'm understanding that the OP made offers, and the homes ended up with cash buyers. Yes, somewhat awkward wording in the initial post, but I don't think the OP is a RE company or investor. I think it's just someone looking for a home in a market that is once again going crazy.
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Old 07-02-2014, 10:43 AM
 
24,399 posts, read 11,642,056 times
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Quote:
Originally Posted by Robert5 View Post
I am confused. Who is 'we'? Are you an investor that has sold five houses in Arvada in the last month? A real estate agent whose RE company has listed five properties in Arvada in the last month? or just someone that lives in Arvada?
I am assuming that "we" means, the op and his or her spouse.
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Old 07-02-2014, 10:49 AM
 
Location: Denver and Boston
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Since neither the OP or the OP's agent is a party to the cash sales, I would question the accuracy the "cash sale" information they have. Presumably the buyer's agent is getting this information from the MLS. I consider all information entered by the Listing agent post sale to be generally suspect. Especially cash sales since some agents have odd definitions of what a cash sale is, and would not base any decisions on it without talking to the listing agents about whether it actually was a cash sale, and if it was a factor in the decision to accept the offer.
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Old 07-02-2014, 10:55 AM
 
6 posts, read 6,197 times
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"We" are a couple and yes, looking to buy a home in Arvada. My question primarily is addressing cash offers; has anyone else faced this (repeatedly now in zip code 80004) and has any advice or clarity to offer.
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Old 07-02-2014, 11:08 AM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,212 posts, read 27,362,982 times
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Default Weapons of Mass Destruction

Quote:
Originally Posted by JodieMarie View Post
any advice or clarity to offer.
You need to eliminate all the Baby Boomers who are downsizing.
We have cash.
We are moving closer to the "city".
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Old 07-02-2014, 05:01 PM
 
Location: Arvada, CO
13,808 posts, read 28,467,745 times
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I bought in 80003 in February, at a lower price point ($250-$300K), and was in a bidding war with 4 others, and won.

TBH OP, this sadly isn't a big surprise. Arvada is a great place to live.
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