Real estate agents tend to be positive thinkers. Over the past five years, the Denver real estate
bubble burst, the national housing market went bust, and we searched high and low for good news to share with our clients. Sometimes there wasn't any. Â We worked longer and harder to save struggling homeowners, to make impossible deals possible, and we went from fulfilling dreams to ending nightmares. Now, like Dorothy in the Land of Oz, we find ourselves waking up to a totally different market!Â
At first I thought it was just me, or maybe me and a few lucky friends... or me, a few friends and the agents in my office, but throughout the industry, agents, title reps and lenders are saying the same thing... "All of a sudden, I'm slammed."Â
Contrary to the seasonal slowdown we expect to see in January/February, Denver's winter market has been hoppin' like springtime. Showings are up, under contract houses are up, closings are up-- the only thing that's down is inventory! Yup. We are begging sellers to list their houses, and not to feed ourselves. We're out there pounding the pavement to let people know that the we've got buyers and no houses to sell!Â
Sellers tend to believe that the best time to put their home on the market is in April or May, and for many years they've been right. Warmer weather and the end of school are traditionally better for the housing market but right now there is so much pent up demand, sellers would gain great advantage by listing early. There is more competition for fewer houses and that means HIGHER PRICES. Â Of the contracts I've written this year (and I'm ahead of my goals), each one has resulted in a bidding war.
Based on a number of economic indicators, nationally recognized real estate expert, Barbara Corcoran, recently picked Denver as the number one city for a housing market recovery
. Well, I could have told her that. So maybeÂ it's not just a case of rosey-eyed Realtors blogging about the good news for so long you think we're Â making it up... because THIS TIME I MEAN IT!Â