The Get Home Denver Team

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The number of unsold homes in the Denver area continues to decline. In October there were 23,120 homes on the market, a 20.1% drop from 2007!  Inventory hasn’t been this low since January 2005, when there was slightly less than 21,000 homes available.

One of the primary reasons for the lessening inventory is the fact that would be home sellers, are not putting their homes on the market given the current conditions.  Many sellers we work with are choosing to be landlords, or just sit tight until the competition from bank owned properties subsides.  Unfortunately, they may have to wait a while.  I predict the REO properties will continue to dominate our landscape for the next 6-9 months.

Another reason for the smaller inventory numbers is that we’ve seen investor money start to pour in.  There has been 3 occassions in the past month where Get Home Denver Team clients, have lost buying opportunities due to bids on properties we identified.  These multiple offer scenarios are a good sign that this market is on the rebound!

There are some really good deals out there, and investors are starting to gobble them up!  We scour the market on a daily basis, and present these deals to our clients.  If you would like to be included on these deals, simply contact us and I’ll make sure you are receiving this info!