The age of a listing does have an impact on the sale price of a home. You can get some leverage when making an offer on a property that’s been on the market for a long time.

A lot of times when we go out and look at properties my client’s ask, the very 1st question is, ‘Well how long has this been on the market?’ I’m sure common sense would tell you, that’s because they want to know if the seller is really motivated to sell the property. And that’s right! If the property has been on the market for a very long time, there’s a good chance that it’s overpriced or there’s something wrong with it.

In fact, if you look at the average sales trends, if a property isn’t under contract and sold within the first 2 months, maybe 3 months at the most, then there’s probably something wrong with it.

It’s either:

• overpriced
• something’s wrong with the condition
• it’s a floor plan that’s very unique

Except for that last item, the first 2, give a buyer leverage to purchase the house at a discounted price. What you need is a buyer’s agent that’s willing to negotiate that for you and understands how to leverage that point. If a seller really wants to sell their home and it is overpriced or been on the market too long, there’s a lot of work we can do to determine the fair market value and other terms that may be important to the seller. If a property has been on the market longer than 60 days and certainly longer than 90 days, then you definitely, as a buyer, have some leverage to purchase that property at somewhat of a discount. Maybe even an extreme discount depending on the situation.

The only way to find out how old the property is, how long it’s been on the market, is to ask your buyer’s agent, because this information is not publicly available. Unless, of course, you’ve been watching the property on the internet for weeks or months now. The only way to find out the newest and freshest listings as well as finding out any price reductions of existing listings is to visit www.EasyDenverHomeSearch.com.

On www.EasyDenverHomeSearch.com

• you can search by map
• you can search by city
• you can search by the best places to live in Denver
• you’ll get the listings as they come on the market

You can also sign up for your E-mail alert service, then we E-mail you every day, if the price changes, or new listings of properties or neighborhoods that you’re interested in.

You can also contact me directly at (303-526-2606) or send me an E-mail:  Sam [at] SamWilsonGroup.com and we’ll set you up with a buyer agent to get you started on your search and make it a lot easier for you to find the home that you want.

Until next time

You may have heard of these, and I think they’re extremely important and wanted to tell you about how they work and why it’s so important for you to have one of these when you buy a resale home.

As you may know, builders, when they sell you a brand new home, they warranty the property for 1 year, call it bumper to bumper warranty. Then they’ll warranty the structure for anywhere from 6 to 10 years. When you buy a resale home from a normal seller, of course they can’t do that. So, what’s available in the industry is a policy called, ‘A Home Buyer Warranty.’

These are extremely important because even during an inspection, an inspector Can’t See,

• between the walls

• inside the plumbing

• they have no idea of the life expectancy of the appliances, the furnace, the hot water heater

They’re just going to tell you at that point in time, during that inspection, that they checked out fine and they’re in good working order.

If something happens after you move in what are you left with? Probably a pretty good-size repair bill. It’s of no fault to the sellers whatsoever, because everything was working fine when they sold you the home.

In order to avoid costly repairs or replacement of systems or appliances, I highly recommend these home buyer warranties. They cover you as a buyer for 1 year from the time of purchase. If anything goes wrong, you just make one phone call to an 800 number, and they send out an approved contractor for just $55! That’s all you’ll ever pay as a $55 service call fee.

For that $55, they will make any necessary repairs to get the system or the appliance in good working order or they’ll replace it. That’s right! You can get a whole new furnace for example for just $55. I’ve had so many clients call me 5-6 months after they bought a house thanking me for recommending these because they just got:

• a new washer

• a dryer

• a new furnace

• hot water heater

• a repaired electrical outlet

• a new microwave oven

There are many things that are covered.

I think they are so important that for my buyers I’ll guarantee that you get one when you purchase a home. The way we’ll do that is we’ll make the offer contingent on the seller providing you one at closing. If the seller won’t provide you one, then I’ll go ahead and purchase it as a closing gift for you when we close.

If this is something that you’re interested in and will give you peace of mind, one way to get a guaranteed Home Buyer Warranty is by visiting my website:  www.SamWilsonGroup.com or send me an E-mail:  Sam [at] SamWilsonGroup.com. Of course, you can always call me for more information:  303-526-2606

Whoever you use to help you purchase your home, don’t let that purchase take place without some peace of mind so that you’ll know things will stay in good working order for your first year in the property.

Until next time