The market is fractured. Prices and price ranges determine the activity and whether the market is going up or down.
If your home is priced between $150,000 and $340,000 you are in luck. The $8,000 tax credit that is running through April is helping you sell your home.
If you are over $340,000, it is having little effect.
If your home is priced above $500,000, you are in trouble. There are few buyers and you might need months and months to get an offer.
If you are in the million dollar range, you are really in trouble. The Short Sales are killing your market, with current pricing on some million dollar homes in the $650,000 and $700,000 range.
If you are a condo or townhome, the same numbers apply, but FNMA and FHA have really messed you up. Some areas are off the FNMA list, and you cannot get a loan. Many are not on the FHA list. Please do your research and check that out before you list. You might be amazed at what you find.
These rules do not apply in every case. There are great deals, and there are some subdivisions that are holding their prices.
Do your research. It is a fascinating time in the Denver market.
Randy Brown
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