It’s all or nothing in today’s market

Tuesday, July 1st, 2008

There is no such thing in Denver’s real estate scene as a house that just needs a little updating.  If you are looking to buy, you are going to find 2 scenarios:  bank-owned properties that are outdated, run-down, and cheap or beautifully updated, immaculate and staged homes priced to sell as quickly as possible.

This is great for investors looking to rehab and rent or fix and flip.  It’s also great for buyers looking for a home that is move-in ready.  It’s not so great for those buyers who are looking to buy something that provides weekend DIY projects like painting and light renovations, at a rock-bottom price. 

The opportunity?  Take advantage of someone else’s sweat equity by purchasing one of those perfect properties, and then take it to the next level - add a deck, upgrade the landscaping, finish the basement.  These are projects that usually fall to the bottom of the fixer-upper list of priorities, but if your new home is already gorgeous, this is your chance to take on one of those dream projects that will add value and improve your lifestyle.

The old rule used to be, don’t buy the nicest house on the block.  But if it’s the only one for sale, and it’s priced right, why not?!

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