What's it like to be a buyer in Denver? Take a look.

[Dee M.]

Listed 02.10.2016

1,090 sq ft

3/2, Northwest Denver, near Sports Authority Field (Broncos Stadium)

Sold in 2008 for 70K

Listed at 250K, 106 showings scheduled today, 46 tomorrow (as of 2PM today), people literally lined up in the street and yard. I personally have never seen anything like this.  That is Denver's market in the below 300K price range. Where there would normally be 8 months of inventory available, it is now measured in days, less than 21. 

[Russell Brazil]

Originally posted by @Steve Vaughan:

Reminds me of my sister's market in DC. Soldnher house in a day. Paid realtors over $30,000. I said what the hell for? Put a sign in the yard and sell it yourself!

Do you know what neighborhood your sister is in? Now 80% of agents do not add value, but even in a hot market like DC there are some, like myself that do add value. Anyone can just throw anything up on the MLS, but understanding how to get maximum value for a property in a hot market is important. Every house (depending on the neighborhood) is going to sell quickly...but why do some very similar houses get say $600k and another $700k. You need to walk your seller through doing small upgrades that make the property appear higher end. Im working with a seller now, and several issues we are addressing is changing out the mailbox (It is the same mailbox every $400k renovation uses, which wont fly in the $600s), changing out kitchen cabinetry hardware, kitchen faucet, repainting some rooms, and tearing up carpet in the basement to lay down a tile floor. Having them spend about $5k is going to make about a $50k difference on their particular property.

Also how do you deal with the issue of having a really expensive property right next to a falling down vacant property which is often the case in some of these DC neighborhoods. I actually get out there and and clean up the house next door, and use a little spray paint to cover up some rotting wood, make that house look more aesthetically pleasing so it isnt going to detract from the sale of my property.

Also, like in any market it is about who you know. I usually hold broker open houses on properties in some of the hotter neighborhoods. The brokers will often have buyers who are frustrated with getting out bid on the open market, and will make a very attractive offer to lock down a property before it hits the open market.

So yeah most people in some DC neighborhoods could easily do the job that most agents do to sell their house, but there are some agents who will provide value and get them more money and more than pay for their services. Id like to think I am one of them.