Boulder consistently ranks among the best cities in the U.S. In addition to our robust luxury market, the quality of life is excellent here. We’re home to world-class dining, shopping, cultural experiences and natural beauty, so it’s no wonder that our market is highly competitive. If you’re planning to make Boulder your new home, you may be curious about how to navigate our particular real estate market. Here, I share insight to help you land your dream home.
Be prepared for multiple offers
Multiple offers are common here, so it’s best to go in expecting to be one of several offers. Although this isn’t always the case, the limited inventory here in Boulder often leads to multiple-offer situations. When you’re prepared to compete with other buyers, you’ll have a better chance of coming out on top.
How to handle a multiple-offer situation
If you do find yourself in a multiple-offer situation, be sure to have your proof of funds letter readily available. Ask your Realtor to submit a complete offer that includes all disclosures, and keep in mind that you may have to forgo some or all contingencies to seal the deal.
Avoid submitting low-ball offers
Even if you’re not in a situation with multiple offers, low-ball offers generally don’t work out in our market. Sellers will likely have a handful of serious buyers just around the corner, so most are unwilling to entertain offers below market value. If you’re submitting the sole offer, it’s often best to offer at or near asking price.
Don’t submit a “love letter”
Many real estate blogs encourage buyers to write a “love letter” to sellers describing what they love about the home in hopes of making a personal connection with the seller. However, buyers should steer clear of this strategy when buying in Boulder, as this violates our fair housing rules.
If you’re looking forward to relocating to Boulder and enjoying all that our city has to offer, it’s helpful to have an understanding of what our market is like. The tips I share here may help you in your search so you can officially call Boulder home.
By Jennifer Egbert. Jennifer is the founding Realtor of the Boulder branch of milehimodern. She specializes in Luxury neighborhoods, home builders and current market conditions. Visit jenniferegbert.com, e-mail email@example.com or call 303.619.3373.