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It is definitely the case in Denver, Colorado! We are seeing a crazy seller’s market right now. The amount of homes on the market is at 1990 levels and I have heard multiple accounts from other brokers that they are having to submit offers at or above list price just to be considered! I have a couple of investors that are even considering making full price offers for a property they would still need to fix up, and they are still getting outbid! It is a great time to be a seller in Colorado!
The distressed sales are down due to the bad mnagement of the REO’s. Most REOs are in such bad shape that even the most desperate investor (the banks are too taugh on loans stil) won’t buy it.
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