Ok Sellers so you had to lower your price. If you live in Denver don’t feel bad beacuse it could be worse, a lot worse. Lets say you lived in Sacramento where they have had to cut their sales price by 40 percent!!! Yes you read that right imagine having to take a 40 percent cut on the sale price of your home. According to this article from Business Week Denver looks pretty good compared to the rest of the country.
Spring is traditionally the busiest time of the year for real estate professionals. As the country enters its third year of a real estate slowdown, many are seeing the beginning of a thaw.
One reason is that sellers are giving up on boom-time prices and settling for less.
BusinessWeek with the help from Altos Research, a real-time housing research firm, ranked 14 of the country’s largest cities based on how much sellers have cut listing prices in the last 12 months.
Listing information for New York City isnâ€™t included, but a recent report suggests that Manhattan prices have climbed 13 percent compared to a year ago.
Here are some of the nation’s best buying opportunities based on Business Weekâ€™s analysis:
Annual asking price change
Sacramento, Calif : -40.96 percent
Phoenix: -25.85 percent
Los Angeles: -25.56 percent
Las Vegas: -23.38 percent
Atlanta: -22.19 percent
San Diego: -20.34 percent
Boston: -15.50 percent
Miami: -13.84 percent
Chicago: -12.34 percent
Seattle: -3.83 percent
Washington, D.C.: -3.53 percent
San Francisco: -3.41 percent
Houston: -2.41 percent
Denver: -0.55 percent