Looking to buy a house in Englewood near DTC

[himain]

Originally Posted by ALStafford

I am curious; do you find the majority of the offers you receive to be from buyers intending to live in the dwelling, or as some sort of "investment," meaning anything from buying intending use as either long term or short term (Airbnb/VRBO) rental, planned short term flipping, rehab projects, or, really, ANYTHING other than those buying are planning to live there?

I don't know if you can disclose this information, or even have/collect this type of information; I really don't know anything about home buying because I've been out of the game so long. Last time I was involved in a house purchase was in the 90's, which was sold when divorcing in 2001. Been a renter ever since. Part of the reason I've been a renter so long, is that I feel I'm constantly being priced out of being able to buy. Rent increases at times when buying could have been in reach impacted savings/ability to save; hot markets make it impossible to ever save enough for a down payment. I have been a remote employee for several years, and the need for office space makes downsizing to save for a down payment difficult; my current rental was selected in part because I knew my tax deductions for my home office would be bankable for X years going toward ownership; lost that plan in the most recent tax changes at the federal level. I am uncertain about any programs I could be eligible for, because I read the above, and just become too discouraged to even look. $43K over asking price has a real impact on savings for down payment, so I don't even know what price range I could/should be looking in!

But honestly, I just want to know, am I at least being priced out by someone that will be living in a home, and enjoying a long term relationship with a community/neighbors/etc, or am I simply being jobbed by the wealthy once again? Thanks.

I would think if they are allowing sellers to remain in the home-it's an investment

[2bindenver]

It’s hard to buy without selling first. Sellers prefer non contingent offers, so offering up to 60 days to rent back means the seller has time to find something to buy.

The best time to buy real estate is five years ago. Don’t have a time machine? Now would be good. Don’t worry about 20% down. You can get down payment assistance with 3%.

[Lopez9569]

Originally Posted by 2bindenver

Real estate broker here. I am seeing 30-50 k over asking inspection waivers, appraisal gap coverage, offers to pay sellers closing costs, letting the seller stay rent free for up to 60 days...

Get on a search that notifies you the second that it hits the market, be approved for your loan, see it as soon as you are able, make your best offer upfront.

I second this!!! And it’s been like this for awhile in the Denver metro. As soon as it hits the MLS, jump. After almost a year of searching and some offers, we finally closed on a house in Expo Park in Aurora a few months ago.