Colorado Homes
The busiest season for Colorado Homes to go on the market is the summer season. Colorado Homes will experience an increase in inventories during the summer months. There are lots of reasons that Colorado Homes will be listed this summer, but what I am going to talk about today will be what you can expect during the negotiation process in buying that Colorado home. I get calls almost everyday asking me about Colorado Homes that people can buy for 20%-30% below market value. I would love to offer Colorado homes that are discounted like this to all my clients, but think about it, if they are worth that much more, why would the sellers not sell it for that much more? The only Colorado homes you will find where you can walk into that kind of equity will come in one of two ways. First, you know the sellers personally and for some reason they want to give you that kind of equity, but normally when this happens you are still giving something up to get that equity. The second way is a foreclosed property in a nice neighborhood that needs extensive work. When I say extensive work I mean a real dive:-) These Colorado Homes do not come up often and should not be the focus of this article. What I want to answer for you is what you can actually expect during the negotiation process.
If you really want to know what to expect in the negotiation process we should look at the offers that are being accepted today. I see about 20 accepted Colorado Homes contracts a month, and each of these contracts have a common trend associated with them. That common tie is about 3% below asking price. You can ask for that 3% by dropping the sales price or by ask for the 3% in seller contributions towards closing costs. Any Colorado homes that appear to be in good condition will have some demand associated with the property. If the property is listed at a fair market price, you should expect to have an offer accepted at that 3% reduction we just talked about. There are Colorado Homes to beware of. Some sellers have been put in a tough situation and will be maxed out on their equity. These sellers will probably not budge on the price because they do not want to bring money to closing. These are the Colorado Homes you should stay away from. No reason for you to pay for someone else’s problem. Call me anytime and we can discuss this in much greater detail. I would also caution you on fraud issues currently going on with Colorado Homes by doing your research.
