Will you buy it if we throw in the kids? : Rooftop Views

Rooftop Views

Will you buy it if we throw in the kids?

You know the market is slowing down when the words DESPERATE MUST SELL appear in home ads. It's a tough time for sellers. They've been used to double digit price increases and multiple offers over list price for the past few years. It takes time to come down off of that high.

In Denver we haven't had that experience for several years so sellers here have had to get creative. It is not unusual to see generous commissions paid to buyer agents to get them to show properties to their buyer clients. And more sellers are offering incentives like carpet or landscaping allowances. Plus sellers here have become used to seller concessions on almost every sale. The way this works is that the buyer makes an offer on the house and then asks the seller to contribute money towards down payment and/or closing costs. So the offer may be for $100,000 with the seller paying $5000 toward closing costs. Thus the seller nets $95,000 before other sales expenses.

But sometimes even more is necessary. We've seen offers of trips, appliances and big screen TV's. New home builders are offering up to $85,000 in incentives including upgrades, appliances and lot premiums.

The most creative thing we've seen though, is an offer for use of Bronco tickets. Understand, in this town, Bronco tickets are the subject of court hearings during divorces to determine who gets them. They are passed down in wills. To offer use of Bronco tickets means some seller is really desperate. It is going to be tough for sellers to top that one.