You have been searching online for months for YOUR dream home, and you think you’ve found it at last! It’s in the perfect neighborhood, the perfect school district, AND the perfect location for commuting, shopping, dining and healthcare. Plus, it offers easy access to all your favorite Colorado recreation. You call your REALTOR® right away, only to find out that the house hasn’t been on the market in months. And worse, inaccurate information on the home-search site you were using led you to believe you could afford homes in your “perfect” neighborhood when you cannot. Welcome to the Colorado housing market.
REcolorado.com is the key to your new home.
This year, the Denver Metro area was recognized as one of the hottest real estate markets in the country (Forbes). And, it’s one that homebuyers, Caley Buckley and her boyfriend Erik, both of Golden, Colorado, got to know as they searched for their first home. Like most buyers, they began their search online and quickly realized how important it is to have access to accurate listing information.
With close to 100,000 people moving to the state annually, Colorado’s homes are in high demand, which has pushed inventory to record lows. REcolorado, the provider of REcolorado.com, June 2017 there were 6,941 active listings of homes for sale and most sold in less than 30 days.
It’s not unusual for a listing agent to get 40 contracts on a property versus the typical 3 or 4 offers, because buyers know they must submit multiple offers to “win” a deal. As a result, “perfect” homes rarely stay on the market long.
Caley and Erik knew it was a competitive market and did everything they could to prepare themselves for the home-buying process, including securing the help of a local REALTOR who was an industry expert. In addition, the couple started searching for homes on REcolorado.com, which features the most accurate and up-to-date home listings in the state. This gave them the head start they needed to find the home of their dreams.
When Caley and Erik began working with their REALTOR, he set them up with a personal portal on REcolorado, and made note of their specific needs and budget so they could receive property alerts when a home that matched their criteria came on the market. Within hours, the couple was getting alerts from their REcolorado portal with new listings that matched their wish list.
Caley says, “With the insane, competitive sellers’ market REcolorado really gave us an edge. You have to be there FIRST. As an EMT in Swedish Hospital’s ER, I work twelve hour shifts. I can’t always drop everything to be first for a showing. REcolorado includes helpful information not found on other real estate search sites. For example, it includes all the financing options, HOA fees, and just a lot more details that helped us narrow down our home search process. You need to be able to react quickly if a home comes on the market! The more you know about a property up front and its costs, the more you can utilize your time effectively and know if the listing is worth taking time to see.” Caley and Erik submitted around eight offers, which is common is this market. But there’s good news: in a recent update from Caley, she and Erik won in a multi-bid situation and closed April 18.
Again, Caley credits the resources available to her and Erik via their REALTOR and the REcolorado portal for their success. As first time homebuyers, finding and working with a knowledgeable and experienced REALTOR helped them navigate the complicated waters of Metro Denver Real Estate. Having real-time access to listings as they came on the market via the REcolorado portal kept them ahead of the game.
When Caley and Erik’s new home went “live” on a Friday, they couldn’t tour it until early that evening. Caley says there was a stack of at least 20 business cards from interested buyers who’d been there before them. Final and best offers were submitted by noon that Sunday, and reviewed by the sellers Sunday evening. The “winning” contract was submitted by Caley and Erik’s REALTOR — and notification given the same night. This fast-paced trend is forecasted to continue, despite other predictions of a slower-paced market.
Research shows prospective home buyers spend an average of three weeks viewing listings on home search sites before they decide to jump in to the market. With Colorado’s competitive market, make sure that site is REcolorado.com. With the most accurate listings, user friendly tools, and connections to experienced REALTORs across the state, REcolorado.com is the key to your new home.