Ask any real estate agent anywhere in the US and the story is the same. Denver Foothills and Evergreen real estate agents are seeing even more pain. Not only are we seeing a historically low inventory this spring but we are seeing more buyers than ever. It is truly insane. I have been involved in the real estate industry in a lot of areas in this country and I have never seen anything like this.
Is this market going to crash?
Everyone is claiming this market is due for a crash. There is no indication of this at all. There is no indication that the home values are artificially inflated or on the way to a burst. There is still way more demand than supply. We have proven the values over and over again during the last 5 years. Anyone hoping for a crash so they can buy into this crazy market may have a long wait ahead of them. I have yet to speak to any real estate that has seen a crash coming in their crystal ball.
Is this like the 2008 market crash?
Believe it or not this market has appreciated slower than ’08. Also the reason for the crash of ’08 had a lot to do with lenders writing loans that should have never been written. Even in 2008 Evergreen and the Denver Foothills did not feel the same pain as the rest of the country. As one of the most beautiful and desirable areas in the country, the Denver Foothills area will always have a demand. With the close proximity to Denver as well as the ski resorts this area will always have people wanting to buy here. The secret about the Denver Foothills is out.
What does the market look like for the summer?
This summer should be another hot market. For sellers, they will maximize their gains and buyers are still able to get into a new home with little hassle. This is not the best time to be a buyer. All you need the best real estate agents in the Denver Foothills to get you through this. Just have a little patience and be prepared to give more than you get. It isn’t often it is this strong of a market in either direction. It is usually a buyer’s market so this year is time for home sellers to shine. Just hang in there and realize someone else may have control of the market.
Real Estate Agents – Buying or Selling? It a Good Time to Do Both
There will be some “investors’ out there that actually pretend to understand what is going on because they watch HGTV. The best thing you can do is speak to a real estate agent near you. Don’t listen to your cousin the “house flipper” or your nephew the “roofer”. Speak to a true honest real estate agent that has been in the industry for years. They will tell you the truth. This is a good time to be a buyer and a seller. So many buyers said “prices are too high” five years ago. If they bought at $450K (average value back then) that home would be worth $750K today. Was the value too high 5 years ago? Not for those folks that bought then. The ones that didn’t are still kicking themselves for missing that boat.