Are home buyers really ready to walk away from sales in Denver?
Take your home and shove it.
In their August trend report, the Denver Metro Association of Realtors found that sellers “are softening their stance on inspection-related issues as buyers are pushing back and proving their willingness to walk away.”
“That has not really rung true in my experience,” said Steve Nadeau, owner and principal inspector of Metro Home Inspection.
“I’ve noticed just the opposite – buyers forgoing inspection because the market has been fairly hot, so the inspection ends up being a ‘honey-do’ list for the buyer.”
Coldwell Banker Realtor Marcus Harris noticed buyers becoming a bit more savvy in the past 30 days or so. But it depends on the price:
“There are those areas where inspection doesn’t really come into play,” he said. For example, he just listed an Aurora home at $287,850. By Sunday, it had 85 showings and 20 offers, including several offers that completely waived the requirement for an inspection.
“But I’ve had other properties that were priced higher, in the 700s, where inspection definitely came into play,” he added.
Jennifer Pollock of Keller Williams Downtown points out that a lot depends on the perspective of the buyer and seller too:
“The more reasonable you are going through this process together as a team to get to the final goal, everybody being a little bit negotiable, you’ll get there.”
What’s less likely to work is overbidding on a house to secure it, then trying to pull the price down via inspection, she says.
Verdict: Maybe not a full-on trend quite yet.
Second verdict: There are lots more juicy stats for home buyers and sellers to look at, so be sure to check out the full report.