Denver is unlike any other. Whether it’s the mountains less than hour away promising constant adventure. The sun shines 300 days of the year. And lets not forget the exciting innovation and economic boom that seems to drive the city’s progress. We all chose Denver for one or many of its very unique prospects. Corken + Company chose it as well twenty years ago when we began practicing real estate in the Denver metro area. We have seen it through its record-setting market development especially over the last decade. That is why an article from one of Denver’s most popular print and online publications, 5280, has caught our attention.
The choice to buy or sell a home is quite possibly one of the biggest decisions an individual or family will make in their lives. The article, Real Estate 2020, from 5280 unpacks some of the important questions buyers and sellers should be asking right now. We thought we would summarize some of these FAQ’s, address some of the compelling answers they give, and provide some of our own. It is essential when considering buying or selling in Denver, especially in the current economic and social climate, that you look close to home for resources, support, and information. Denver is unlike any other and its real estate market is no exception.
Selling
Q: How do I prepare my home for sale in a COVID-19?
A: While it’s always been crucial to prepare you home to visually entice buyers, it is an even more important consideration with COVID precautions and restrictions in mind. Stage your home, get a great photographer and even a great videographer. Consider budgeting for a 3D home tour. The more visual marketing materials you have the better. Keep in mind, at Corken + Company, we are a full-service concierge style brokerage that will initiate and oversee all of the initial preparations to get your home ready for market, including staging, professional organizing, photography, and virtual tours.
Q: How do I price my home?
A: Pricing your home enticingly and competitively has always been an “art form” according to the 5280 article. And, at Corken + Company, we couldn’t agree more! It is important to research comparative recent home sales near you, carefully consider the unique elements of value for your specific home, and develop a strategy. This is one of the most valuable parts of working with a brokerage like Corken + Company. We have the knowledge and experience to find your pricing sweet spot.
Q: Should I get a pre-inspection?
A: It’s a good idea, yes. But again, this is a not so fun part of the selling process that you can take off of your plate and put on ours. Knowing possible problems and issues your buyers may discover and addressing them accordingly will help you stay prepared, avoid undue complications, and minimize the concessions you will have to make as the selling process proceeds from under contract to closing.
Q: Can I sell my home on my own?
A: Of course, you can do whatever makes the most sense for you. This is ultimately your property and your process. That being said, selling your home can be extremely nuanced, tedious, and complicated. In the same way you can DIY your bathroom renovation, you can DIY selling your home. However, even the savviest of DIYer’s could make mistakes and end up putting in way more work than they originally projected. For best results, use a professional. For even better results, use Corken + Company.
Q: Should I use an iBuying service?
A: All we can caution here is to do your research. It is a risk you may not be willing to take when selling one of your most important assets. There are a lot of arguments for and against these types of services but the ultimate consensus so far is that while convenient, there is a possibility of missing value you may gain by entering the natural competitive market; especially in Denver where bidding wars, cash offers, and multiple offers persist.
Buying
Q: What should I expect buying a home in a real estate market subject to COVID-19 precautions and circumstances?
A: Prepare to go virtual. While showings are allowed, you may want to do virtual tours first and be very selective about the homes you decide to see in person. Once you find a home you love, don’t be surprised to conduct much of the next steps virtually or at a safe distance. Title companies have drive-by closings, for example. The whole industry has gotten very creative so be prepared to participate in some of the unusual solutions we have come up with to solve some of the new problems presented by COVID.
Q: How should I prepare?
A: Have your lending documents in order. Again, this is something Corken + Company can take care of. We partner with many reputable lenders and can help streamline the lending process for you.
Q: Can I get a deal?
A: With Corken + Company, yes. But do remember that Denver is still a highly competitive market. There are deals to be made but another great reason to work with a broker is to ensure you have the best negotiator in your corner.
Q: Should I buy a fixer-upper?
A: This is always a personal consideration. In the right area and under the right circumstances this might be a great idea but in most areas of Denver there is not as much of spread to be made purchasing a home to fix up and then immediately turn around and sell. That being said, Corken + Company, specializes in investment property acquisition and will work tirelessly to find the right opportunity for you!
Q: Should I wait?
A: The short answer is no. If you are financially ready and your personal circumstances have brought you to consider buying a home. Pursue this opportunity at your pace. It is difficult and often fruitless to always wait for what may or may not come. While it is important to understand the market and be aware of the social and economic climate (leave that part to Corken + Company!), this is ultimately a personal decision that directly impacts you and your family first and foremost. If it is right for you, it is right. Let Corken + Company help you make the call!
To read the article referenced above and learn more visit here
