The State of The Market Today
Let's be realistic - the state of the market is a frenzy. Multiple offers on just about everything. New prices being calculated daily for Martin Park, Newlands, Chautauqua, and almost every product type in Boulder. We are at a point that if a product is on the market for 10 days or more, the buying public is asking what is wrong with it. The bloom is off the rose in that short of a period. Escalation clauses have become commonplace where properties get bid up daily.
What can buyers do to help them in this frenzy? For starters you must be pre-qualified or pre-approved. With all offers except for cash offers, it is anticipated will be accompanied by a prequal letter. Buyers could consider waiving appraisal, or stating that they will make up the difference in cash if the property does not appraise. Buyers could also consider selecting specific performance in their contract to separate themselves from the pack. After all, specific performance is an equal playing field with the rights of the buyers and sellers.
Most importantly, pick an experienced broker who can guide you through this maze and be aware of properties on and off the market. Off market intel is key in this kind of a market, and we have some of the best insight around.
Let our 50 years of combined experience work for you.