How to Become a Power Buyer in Colorado
In this month’s market report, Realtor Sam Wilson of Lakewood, Colorado, explains how to become a power buyer in Colorado. According to Sam, “if you keep hearing there’s nothing to buy,” then you’re listening to fake news. The Denver Metro Association of Realtors® January 2022 Report, confirmed that 63,664 homes closed in the Denver metro area in 2021.
The metro Denver real estate market heated up in the first half of 2021 with buyers competing for homes. The good news is that days on the market before signing a contract in December 2021 were 19 days for single-family homes and 17 days for condos and townhomes.
Compare this to July 2021, where days on the market were at a low of 12 and 8. This trend confirms that while the market remains competitive, buyers in the 11 county metro Denver area are under less pressure to make offers on homes sight-unseen.
The Inside Track For Succeeding as a Power Buyer
How to become a power buyer in Colorado means hiring a realtor who offers cash buyer and a variety of other programs to simplify the real estate process. The Sam Wilson Home Selling Team offers education about available programs so that buyers and sellers are fully aware of the variety of options when entering the real estate market. For a no surprise experience, it’s important to get all the facts from a knowledgeable real estate team.
Sam Wilson and his team educate buyers and sellers about what it really takes to compete in the current real estate market. For example, a buyer-seller chain of events increases the likelihood of losing a deal.
A buyer-seller chain of events means that some contingency exists. For example, the sale of your home is contingent upon having a contract to purchase your next home.
Having a contingency in your offer can make you a less attractive buyer if the contingency can result in the deal not moving forward to completion. Home sellers desiring to move ahead to their next home or living situation want to avoid as much uncertainty as possible. This is why a cash offer with no contingencies often wins out over other offers.
For example, being willing to rent short-term without feeling pressured to buy can help you get the home that you want without settling for a home that’s just okay. In some circumstances, a knowledgeable realtor like Sam Wilson can also negotiate a rent back if you need to remain in your home slightly longer. The Sam Wilson Home Selling Team goes the extra mile to make sure that deals close and are favorable for homebuyers and home sellers.
Who Can Become a Power Buyer in Colorado?
Power buyer programs have replaced the conventional way of buying and selling homes.
- Homeowners who sell their homes without needing an immediate replacement home can become power buyers
- Buyers with cash, bridge financing, and mortgage pre-approvals with no contingencies are in a better position to compete for their dream home
Preparation and Hiring a Knowledgeable Realtor is Essential to Competing in Today’s Real Estate Market
The best way to succeed in finding the home of your dreams is by being prepared to move quickly. Preparation means planning and doing the work up-front to get your house ready to sell. And, if your home sells in a matter of days or weeks, you have plans for where you will move.
The Zavvie Q3 Seller Preferences report Zavvie relays the story of a buyer in the Denver market “using a traditional mortgage and having a loan contingency with their offer.” This buyer had to submit offers on seven houses before getting an offer accepted.”
When homebuyers use a cash offer program, the average is 1.1 offers before successfully purchasing a home. Fewer hurdles in real estate deals increase the confidence level of all parties that the deal will close. Using a realtor with the expertise to overcome small objections is also important to closing real estate deals.
Free Reports Help You Create a Timeline For Selling Your Home
If you’re unsure how to create a timeline for selling your home, get these free reports to simplify the process.
1) Advice on Selling Your Home: 12 Tips for Success
3) How to Sell a Home Fast: Home Seller Etiquette Tips
Learn How to Become a Power Buyer in Colorado
How to become a power buyer in Colorado involves becoming knowledgeable about these programs offered by Realtor Sam Wilson. Realtors on the team will provide you with a thorough explanation so you understand all of the details and can take the next steps to move forward selling or buying a home. Click on the list below to read more about each topic.
Is It Time to Sell or Buy a Home?
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The Sam Wilson Home Selling Team specializes in homes in the Denver Metro area, including Arvada, Aspen Park, Aurora, Brighton, Broomfield, Centennial, Conifer, Denver, Edgewater, Evergreen, Genesee, Golden, Highlands Ranch, Idledale, Indian Hills, Ken Caryl, Kittredge, Lakeside, Lakewood, Littleton, Morrison, Mountain View, Parker, West Pleasant View, Westminster, and Wheat Ridge.
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© 2022 Sam Wilson All Rights Reserved. Articles by Pamela D Wilson
