Colorado home buyers making low ball offers is probably not effective. The real estate market in Colorado has fewer houses for sale than there are buyers. Which means that Colorado’s housing market is a seller’s market. That means that sellers in Colorado can be a little pickier about the offers they accept and they will probably get asking price or very close to it. So does it make sense to make lowball offers when trying to buy real estate? Of course not.
If you are a home buyer looking for a good deal on a home, you probably started out looking at listings on the internet or driving around and looking at “for sale” signs, then called the realtor listed on the sign. From there you may have stuck with one of those realtors to help you find the right property for you.
If you found one or more “right properties” and your offers keep getting rejected, you need to ask yourself why. Is your realtor letting you make lowball offers? If he or she is, find another realtor. It is a mistake, as a buyer, to think that a seller will always counter higher. If you keep getting rejected outright, they obviously won’t, so continuing to follow advice to make the same mistake over and over is a bad idea.
As a home buyer you need to be educated. Know real estate values in the areas you are looking. Have a good idea of what is a fair asking price, and make your offers correspond. Go to the recording office and see what recent real estate sales have been, and then see what their asking price was. You’ll probably notice that there isn’t much difference between the two. Then find a realtor who has a grip and giving good advice and use them.
Looking at house after house after house is hard work. Stop losing out on the homes you find you want and start being taken seriously as a buyer. Make your next offer work and don’t make a lowball offer.