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Tips for Buyers in a Seller’s Market in the University Park Denver Area

July 6, 2016

Consistently ranked one of the top ten neighborhoods in Denver for the past several years, University Park is an enclave of new builds and large older homes, nestled between South University and South Colorado Boulevards. Its proximity to the University of Denver and the light rail, the abundance of well-ranked public schools, and the convenience of shops, restaurants, and groceries adds to the appeal of this area. Another big draws is Observatory Park, the location of DU’s observatory and telescope, where you can spend a warm summer evening picnicking and stargazing.

The real estate market in Denver has grown increasingly tight within the last five-to-ten years as families from around the country flock to Colorado, drawn by its natural beauty, wealth of outdoor and cultural activities, and extensive employment opportunities. There are steps you can take as a prospective home buyer to give you an edge in this seller’s market. With these ideas in mind and the aid of an excellent University Park real estate agent, you’re sure to find the home of your dreams.

Be Constant in Your Search
To make sure you’re seeing the best and widest range of options available for you, staying on top of your house hunt is key. Spending a few minutes each day checking the market and following up on leads can help you determine what you’re specifically looking for in a new home and what is negotiable. Looking for houses only every now and then will leave you less educated about what’s out there. Having professional real estate guidance can help you with your search, providing know-how about the market in the University Park area to make the process less overwhelming.

Get Your Paperwork in Order
In a market as competitive as Denver’s, having all of your ducks in a row will ease the process when it comes time to make an offer on a house. Come prepared with certain documents to show that you can cover the down payment, including a proof-of-funds form and a mortage pre-approval letter from your bank.

Keep it Simple
Once you’ve found the perfect place and secured proof of financing, the next step is making a timely offer. Homes don’t stay on the market long here, and sellers want the process to be quick and painless.

With the probability of the seller having multiple interested parties, you’ll need to show them you’re serious. Instead of a lowball offer, put forward your strongest right from the get-go. Your real estate agent can help you submit a compelling, straightforward offer, with as few contingencies (financing, appraisal, home inspection, etc.) as possible, to ensure you’ll be the top contender.

Remember to be patient! Buying a home in a desirable neighborhood takes some time, but is well worth the effort. Let Elevation Realty help with your home buying process, from first search to final offer. Give us a call at 303-579-3566 and take a look at our University Park listings online.