Whelp, we have reached the busiest time of year in real estate in Metro Denver. The time of year where the masses come out to buy and sell a home and what real estate agents live for. From closings, to negotiating, listing homes, presenting multiple offers and showing homes, this time of year is typically a whirlwind. As I catch my breath and continue to work hard for clients, I have rounded up a few interesting articles I have found thought provoking and interesting.

As the oldest segment of millennials reach 40, businesses are tapping into the segment called ‘millennial parenthood’. Sarah Robinson and Noria Morales, co-founders of family space The Wonder created a space for families in Tribecca. The Wonder isn’t designed to cater only to kids; it also includes adult-friendly areas, What other businesses will we see start to cater to the “older” millennial?

Wondering what the best cities are for new college grads? Go here. Hint: Denver is number 9! If you are considering buying a home, take a look at the 25 best neighborhoods in metro Denver.

This year I have vowed to sharpen my public speaking skills and even went as far as hiring a professional speaking coach. Why would I do this? Because public speaking is critical to your success. 

Starting to feel a bit distracted by your tech? According to the author of Digital Minimalism, this is exactly what they want to happen. Consider a digital declutter. Start by accessing your smartphone and app use and take 30 days off. After reading this book, I deleted Facebook and Instagram, allowing use only on my laptop and for no longer than an hour a day. I am curious to see how much more productive I am without being attached to social media.

Of course, we also want to have fun. If you are staying in Denver for Memorial Day weekend, take a look at these ten things to do in Denver this Memorial Day.

Speaking of Memorial Day, keep in mind Memorial Day is typically when we start seeing the real estate market slowly start to favor the homebuyer. This presents a great opportunity for buyers entering the market or buyers that have had a hard time competing for a home.

Liz is  broker and owner of Liz Daigle Realty.

It is no secret that Denver is a hot real estate market. As the population of metro Denver increases, we don’t have enough homes to satisfy the amount of people. Ultimately, supply is low and demand is high for homes. Therefore, listings typically receive multiple offers and a higher price as homebuyers compete for a house. Each year, it seems homebuyers up the ante with what can keep them relevant and competitive. Buyers often send “love letters” to the seller pleading for the home and to play to the seller’s emotional side. Homebuyers end up waiving an inspection and sometimes even bring money above appraised value. In this competitive environment, it is useful to understand the psychology of these homebuyers.

1. They love shiny objects. Homebuyers all seem to clamor around the homes that look nice: the ones that have professional pictures, neutral colors, popular upgrades and are staged nicely. Issues with the home often get overlooked if it looks nice. Homes like this typically get bid up.
2. Short Attention Span: Since the market is so competitive, homes go under contract very quickly. If a home doesn’t go under contract in the first weekend, homebuyers lose interest and they will move on to the next round of new homes that come on the market the next week.
3. They seem to be more open to competing for a home versus negotiating. Maybe it is the energy of a good competition but buyers seem to want the gratification of winning the home. In the last 6 months, I have had two examples of this while representing a seller. In both cases, once we dropped the price slightly, we received multiple offers, getting the price back to close to the original list price.
4. Fatigue is a real thing and a major concern. Buyers seem to come out earlier each year while sellers do not. This makes the most competitive time of the year in real estate March to June. Buyers come out in full force in the winter while sellers don’t seem to list a home until the summer. Often, Homebuyers find themselves bidding on multiple homes and not getting any of them. This takes a toll and some decide to sit out the rest of the year.

Now that we can see inside the psyche of a homebuyer in Denver, how can buyers and sellers use this information?

Buyers need to stay open to homes that may not be perfect. Paint, carpet and tile go a very long way to make a house a home. Also, take rests when needed but don’t stop.

Sellers need to remember that we are a very visual population and prior to listing their home, they need to make it look nice. Professional pictures and video will not only get more people through the door but more offers. Pricing is crucial and buyers seem to respond better to the milestone prices such as 400k or 550k and will raise the price, if needed. Additionally, to catch the most number of buyers, sellers need to consider listing their home between March and June.

We have lived through five consecutive years of rapid appreciation in the real estate market in Denver and more buyer’s continue to join the ranks and compete for a home. As in any cause of supply and demand, if supply is low and demand is high, the buyers will raise the price of the good. By understanding the psychology of current homebuyers, both home sellers and buyers can use the psychology of Denver homebuyers to win in this market.

Liz is  broker and owner of Liz Daigle Realty.

General assumption is that the summer is a great time to sell your home in Denver and  because of this assumption, sellers will often hold off until summer to sell. Although, we seem to have a reverse market in Denver. While most cities find the most competitive time of year to be summer, Denver’s hottest time of the market is the winter. Buyers come out earlier than typical in Denver while sellers often wait until Spring. This creates a competitive marketplace between the months of January – May. During this time is when we see multiple offers and homes going under contract very quickly in Denver.

The above graph shows when sellers and buyers have opportunity in the Denver real estate market. You will see that right now is the best time to sell your home. We are in the best season for a seller to sell their home. We are still are in a strong sellers market and should expect to see it cool off in April while providing more opportunity to buyers June.

As the Spring approaches we see two things happen. One, more sellers come on the market helping to fulfill the buyer demand and two, buyers start to leave the market because of buyer fatigue. Homebuyers get tired of competing for a home and decide to wait another year. This is a very unfortunate misstep as the summer months provide buyers a lot more breathing room and negotiation power.

What does this all mean?

Sellers need to list now. They will receive top dollar and most likely will have buyers competing for their home. This will also help fulfill some of the ravenous buyer demand.

Buyers need to hold on there and keep at it. Take a rest, if needed, and use this chart as inspiration and a roadmap to the Denver real estate market.

Wondering what your home is worth? Wondering what your home is worth? Head here or reach out to Liz!

Liz is  broker and owner of Liz Daigle Realty.