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Tips for Home Buyers

Buying in a seller's market
Posted: September 20, 2021 by VCK Group

Though the market seems to be slowing slightly, in Western Colorado we are still in a seller's market. There aren't a ton of homes for sale, and the ones that are are getting sold quickly.  Price are up and time on the market is down. So what's a home buyer to do? We've got some tips for home buyers looking to buy in a seller's market.

First, consider areas with slower price growth. Generally, in Grand Junction, areas like Orchard Mesa, the North/Southeast 81504 zip code, and Clifton have slower price growth than other areas.  These areas also have older, established homes.  However, much  new construction is happening here too. This means there are options for both those looking to remodel a fixer or buy something brand new.

Next, get pre-approved for a mortgage or have funds readily available. This is not the time to go looking before you get approved. You need to be able to make an offer and act quickly.  We call this being "offer ready." 

If you can, eliminate any contingencies. For example, often offers are "contingent upon buyer's sale of current home".  If you can eliminate this contingency or consider eliminating things like asking the seller to pay closing costs, you may come out ahead of other potential buyers. 

Last, consider personalizing your offer. If you have an attachment to this particular neighborhood, or are growing your family and need more room, include this information in your offer as a personalized note. Sometimes tugging on heartstrings can go a long way.

Finally, make sure you work with a realtor. This is a difficult time for home buyers and having an experienced realtor on your team can make the home buying process much easier.  Ready to start shopping? Contact us! We'd love to help.

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