I guess it’s because I’m a Realtor but I’m often asked questions at social events. “ How is the Denver real estate market?” “How is listing inventory of homes for sale?”
I have found the best way to answer the questions is to let a client answer those questions. You see, the market is what happens to people, their hopes and their dreams. It’s not just numbers.
Doug and Sharon contacted me as a result of an article I wrote on this blog over 4 years ago. Can you believe that. We kept in touch over the years until they were ready to purchase a home. Here is their story about what the Denver real estate market means to them in their words.
What the Denver Real Estate Market Meant To Us
My wife Sharon, daughters and I moved out to Colorado 4 years a ago from Chicago to fulfill our dreams to live in this beautiful state. We had to do a short sale. So, we rented a house in Littleton until our credit could rebound.
Sharon wanted to look at homes two years before we could purchase a home. Other Realtors would ask if we were pre-approved. We weren’t. Dennis never questioned what my wife wanted to do. So, he was our man.
At the time the market wasn’t so bad. But, all of a sudden the market spiked. Of course this was when we finally got pre-approved thanks to Dennis referring us to Jimmy Kinley with Cherry Creek Mortgage. If we hadn’t listened to Dennis, we wouldn’t have gotten pre-approved for as much as we did. Plus, the real key was having a Realtor who knew a great lender. We were in the toughest market of $300,000 to $350,000.
Bidding Wars With Realtors and Investors
It was daunting to walk into a house on the market with multiple Realtors and investors for each showing. It was like every showing was an open house. If a new listing came on the market, we had to view it that day and decide to make an offer that night. It made the Realtor to be on top of the market. And, Dennis & Dawn were always on top of new listings and price reductions. We had to look at $300,000 since it was the norm to offer $25,000 to $50,000 over the asking price. As a result we had bid up to $29,000 over asking prices on eight different offers. And we came up short multiple times coming in second place many times.
We were frustrated and nervous since our lease was coming to an end. We finally got a house at the higher end of our price range. The offer was accepted contingent on the inspection. Dennis recommended a inspector for us to contact. The inspector found mold in the attic which could be fixed. Dennis told me he didn’t like the “feel” of the house, he thought other things could be wrong. I would have been a fool not to listen to someone who has been around the business as long as Dennis and his daughter have.
When A Realtor is A Friend
Since we were drained from the process, it would have been easy for Dennis to have us close on the house. He wanted our family to have a good home because he became a personal friend. We counted on him over 4 months of every waking moment including weekends, nights and school starting. And, we were almost ready to give up because our lease was almost over.
Highlands Ranch Became Our Home
Dennis had always said we should look at homes in Highlands Ranch.All of a sudden a house was listed one day at 5pm. Dennis showed Sharon the house at 6pm. I had to work. She loved it and we made an offer without me looking at the house. We were under contract by 9pm that night. It was crazy to make one of our biggest buying decisions without even seeing something, But, the market was so fast and furious. Our ninth offer finally got a house for the asking price.
Dennis was right. Highlands Ranch was great for our family. He worked so hard for us. I referred him to a client of mine and they loved what he did for them. We believe that if we didn’t have Dennis and his Dawn working for us we probably would still be renting. Thanks Dennis, Dawn and Jimmy.
The Rees Family