Local Realtors in one of Denver, Colorado's premier neighborhoods, Englewood, say it is a great time to buy real estate due to the current buyer's market.

"Wow, what an excellent time to buy in Englewood!" exclaims Realtor Jeff Jackson. "Low interest rates combined with a high level of inventory make opportunity galore for buyers here. Prices have remained fairly constant overall recently, however, sellers have found that buyers are definitely in the driver's seat when it comes time for contract negotiations! Many sellers are accepting less than list price and/or paying a portion of closing costs in order to keep contracts together."

Explain Realtors Ralph and Linda Papineau, "Since the interest rate is down and there are almost 30,000 houses on the market, it is definitely a buyer's market. But, if the houses are in very good shape and well taken care of, there should be no reason why a seller's house will not sell. Listings are staying on the market a little longer than they used to, but sellers just have to be patient and they will sell their houses. The real estate professional can assist in the process of what price you should put on the houses because of their knowledge in what houses have sold for in the area and also based on extras that each house has in them."

"Considering that there are a lot of homes available proves that the trend for a buyer's market continues," says Realtor Sigrid Meier, "The trend encompasses all price ranges."

Meier explains, "In the lower price ranges, $80 000 - $250 000, the seller is helping buyers with creative financing. In the medium range, $250 000 - $500 000, sellers wait for buyers to show up and look at their property. Owners of these properties are not sure about their job security, the economy, etc. and do not want to move in to a higher price range with a larger mortgage. High priced properties, $500 000 and above, have a lot competition. A great number of them are on the market and not moving very quickly. In this price range, a buyer has the greatest variety in styles to choose from. Builders of new homes, in all price categories, are trying to lure buyers with special financing, appliances packages, landscaping etc. Here the cost-conscious buyer gets to pick and choose in all areas. Considering all this, real estate is still a great investment."

Overall, most agents see the current buyer's market as favorable.

Realtor Jim Jorgensen says, "The start of a new year brings with it a very favorable buyer's market. There is a large supply of excellent homes, in every price range, just waiting for buyers. Price negotiations are on the side of the buyer, as homes are sitting on the market longer than in years past. Also, interest rates continue at record lows, making this an excellent time to purchase. Denver is a dynamic market, and the economic slow down will not last long with families continuing to move into the area."

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Published: January 9, 2003

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