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Old 03-06-2019, 05:29 PM
 
Location: Just south of Denver since 1989
11,485 posts, read 31,078,908 times
Reputation: 8109

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2019 will be a very slightly less good Sellers market. Inventory will increase from now until May. Interest rate will remain more or less where they are.

Wages do not have an impact on housing prices.

Most demand is under $500,000.

Flash sales (going under contract in 7 days) is headed towards 50% in April and May.

Are you ready?
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Old 03-07-2019, 07:53 AM
 
2,291 posts, read 2,278,770 times
Reputation: 2267
In my Boulder neighborhood it's still really hot. Very low inventory and plenty of buyers. When a house hits the market it immediately gets a lot of traffic. It either sells in the first week or two, or there is something wrong with it.

We were considering a job offer that would require a move. I contacted 2 agents for info, and both tried like crazy to show my house to buyers they had in their back pockets. That was 3 months ago, and they're still trying. lol.

Anyone who thinks it's neutral or a buyer's market has been hanging at the dispensary.
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Old 03-07-2019, 10:39 AM
Status: "Looking forward to President Harris" (set 23 days ago)
 
Location: Berkeley, Denver, CO USA
15,633 posts, read 23,512,030 times
Reputation: 26873
What I am seeing/sensing in Denver's Berkeley neighborhood is a tiny slowdown.
This is for new builds (mostly duplexes) over $800K.
Asking prices start out at greedy and then the actual sale is for 95% of greedy.
For example:
https://www.zillow.com/homes/4371-Vr...,-CO-80212_rb/
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Old 03-07-2019, 11:21 AM
 
939 posts, read 591,521 times
Reputation: 1450
Quote:
Originally Posted by brown_dog_us View Post
In my Boulder neighborhood it's still really hot. Very low inventory and plenty of buyers. When a house hits the market it immediately gets a lot of traffic. It either sells in the first week or two, or there is something wrong with it.

We were considering a job offer that would require a move. I contacted 2 agents for info, and both tried like crazy to show my house to buyers they had in their back pockets. That was 3 months ago, and they're still trying. lol.

Anyone who thinks it's neutral or a buyer's market has been hanging at the dispensary.
Which is why 4% commission is all you should give (if that) since the agents don't work very hard.
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Old 03-07-2019, 11:35 AM
 
620 posts, read 479,578 times
Reputation: 1688
Quote:
Originally Posted by LHS79 View Post
Which is why 4% commission is all you should give (if that) since the agents don't work very hard.
Exactly. It’s even worse in SF. Million dollar places selling for a couple hundred thousand over listing and the agents literally only list the property and fill out the paperwork. That’s it. 3% commission of millions for sitting back and organizing the bids in order of highest to lowest at the bid date, then pitting people against each other, then filling out a few pieces of paper. Seriously, easiest job in the history of the world.
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Old 03-07-2019, 11:39 AM
 
Location: Boulder, CO
2,071 posts, read 584,499 times
Reputation: 3477
Quote:
Originally Posted by brown_dog_us View Post
In my Boulder neighborhood it's still really hot. Very low inventory and plenty of buyers. When a house hits the market it immediately gets a lot of traffic. It either sells in the first week or two, or there is something wrong with it ...

Peripherally related ... I know it's a Denver forum, but ... the condo I just bought in Boulder started out "no thank you" high, was dropped $50,000 to "still too high", then was dropped ANOTHER $50,000 down to "just about right", judging from comps that had recently sold as well as new listings.


I went to see it, loved the location, loved the space (less than 1000 sq ft), and wrote up an offer that day (two, maybe closer to three weeks ago) for full asking and was accepted the next day. The buzz was that there were other interested buyers that had viewed it, some more than once, and I didn't wish to come in low, dicker and haggle, and lose to a slightly higher offer.


I think I picked a good time to buy, as February is well before the active spring season for summer moves so "the kids can finish out the year".
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Old 03-07-2019, 03:03 PM
 
2,291 posts, read 2,278,770 times
Reputation: 2267
Quote:
Originally Posted by LHS79 View Post
Which is why 4% commission is all you should give (if that) since the agents don't work very hard.
I consider calling me trying to convince me to sell even though they know we picked a local job "working very hard".

If you want to save $'s use redfin. Otherwise hire a smart hard working agent that knows the market. Don't hire your friend.
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Old 03-07-2019, 09:07 PM
 
1,579 posts, read 1,130,887 times
Reputation: 1904
The only houses in my hood which is relatively new that are lingering on the market all have terrible lots and few upgrades.

Once a private lot opened up we snagged it.
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Old 03-08-2019, 01:24 AM
 
44 posts, read 31,905 times
Reputation: 54
Are banks appraising close to the selling price?

I know for a while in some cases buyers were offering above the asking price and banks were appraising below the selling price.... meaning the buyer might have to bring significantly more cash than 20% down to the table.
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Old 03-08-2019, 01:18 PM
 
Location: Just south of Denver since 1989
11,485 posts, read 31,078,908 times
Reputation: 8109
Quote:
Originally Posted by SirJohnHarington View Post
Are banks appraising close to the selling price?

I know for a while in some cases buyers were offering above the asking price and banks were appraising below the selling price.... meaning the buyer might have to bring significantly more cash than 20% down to the table.
That would depend on the buyer financing. There is not a one size fits all in Colorado contracts.

Out of 9 closings so far this year, 5 appraised at contract price, 3 appraised over asking and two less than asking. One of the two was $750.
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