Here’s what we are noticing in Colorado when it comes to home sales: As a buyer you should be buying homes in Denver , not the suburbs Our sellers are getting punished for owning homes that are considered out of the metro area. Showings are few and far between, offers are not near asking price, days on market are starting to get scary. Why is this? The trend for where people want to live is no longer out of the Metro area.
The truth is there are tons of homes for sale in both Denver and the suburbs . The hard reality is people today want to be closer to the cities. Whether it’s commuting to work, closer to entertainment, city recreation, friends, or family people do not want to live more than 20 to 30 minutes outside of the cities.
This has its pros and cons. The trend fifteen and twenty years ago was move away from the cities to gain land and space. The urban sprawl was a thing of the past and people wanted to get away from the noise, the traffic, and their neighbors. It must be a generational thing because today people want the energy of the city more than ever and they want to be in the mix.
My advice to buyers today is do not look for that lot of land with ten to fifty acres where you can build your dream home that you’ll want to sell in ten years. In ten years maybe the urban sprawl will shift again to where that land is valuable. However I wouldn’t bet on it. Instead as a buyer you should really focus on an in-city home that will have a higher resale potential.
If you’re a seller that has that house for sale and it’s an out-city property you’re going to need a phenomenal marketing team of real estate agents to really make sure your home gets into the hands of the agents with those buyers. You’ll need to make sure home is updated to the hilt in order to combat how far out you could possibly be. Lastly know that the one true way to get a buyer to say yes is with money.
If you’re considering selling your home or need assistance with purchasing a home we would like to be your real estate resource.
Marc Bayes is a Broker Associate with the Colorado Dream House Team, Keller Williams Realty DTC. Contact Marc at 720-446-6325