Things appear to be looking up in the Denver area according to separate reports just issued. A realty firm issued a report showing that sellers are getting a larger percentage of their listing price this year compared with 2012 and that homes are spending about nine fewer days on the market compared with Summer 2012. MetroList shows an increase of available homes from April of this year to July 15, 2013.
Although neither report included comparisons to prices for these homes to prices prior to 2006, there are some positives with this information. It shows that there is reason to believe the Denver market is on the comeback trail.
However, as I continue to point out, more inventory means that each home for sale has more immediate and local competition. Thus, the need is still strong to properly advertise and promote each home for sale.
Trying this like a potential home buyer, I searched the site linked via the Denver Post (the largest local newspaper) in the $150,000 to $200,000 range for 2-bedroom single family homes in order starting with "lowest price".
I wasn't surprised with my finding, but am certainly disappointed. The very first house on the search (And how many agents would LOVE that placement?) merely served as another example of my point.
It was for a 3-bedroom home in Denver on Lowell Blvd. The primary photo not only showed a lawn in horrible condition (as much dirt as dead looking grass) but it turned out to be of the back yard. The "front view" photo also showed the terrible looking lawn and that there is (or did not appear to be) no garage, driveway, or on-property parking. The next photo showed the rear area with a mass of dirty concrete and a storage shed. Not one of these photos was flattering, to put it mildly.
Upon finally getting to the interior photos, we then see that the home is empty. In several photos, all we see is a dining room set, one chair, and the appliances. One of the photos shows what is either a basement or empty room with what is either concrete or horrible carpeting on there.
Simply put, not one of the photos (with the possible exception of a bathroom shot) adds any appeal to this property.
It took reading the description below to find out that two of the photos are to show the "new furnace", even though none of the photos reflect the "new carpeting" stated. We also then find out that there is a "rear driveway" for parking, even though this is not shown in any of the photos. We are also told that the sewer line "has been replaced".
Some of the next homes in my search had decent ads for them, but certainly not enough. If I was truly searching from out of area, I would probably have moved on after seeing that first ad, thinking if that was all $150,000 gets me I'd rather go elsewhere.
Just because the market conditions are better, it does not mean that an agent can be that careless about how a listing is advertised.
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