COLORADO, USA — All-cash offers, bidding wars, and sight-unseen offers thousands of dollars over asking price within minutes of a home hitting the market.
Buying a house isn’t what it used to be in Colorado and beyond.
RELATED: 3 Denver-area couples describe what it's like to buy a home in this crazy real estate market
To help you understand and navigate what’s going on, The Denver Gazette and 9NEWS assembled a panel of experts to provide a close look at issues surrounding the explosive residential real estate market in Colorado.
Viewers heard from residential real estate professionals, lenders, Colorado Housing and Finance Authority representatives, financial advisors, and developers about everything from how the market became so unpredictable and how the process of home ownership has become so challenging, to how to compete for a home.
Watch the full conversation below:
RELATED: Soaring home prices and unprecedented demand: Denver real estate experts answer your questions
This was not a “how to buy a home” seminar, rather an information session on the market and the ins and outs of home ownership and how those dreams have become harder to reach for many.
Denver Gazette Business reporter Huspeni and 9NEWS anchor Alexandra Lewis cohosted the discussion, and panelists included:
• Jenny Usaj of USAJ Real Estate, who has been in the downtown-Denver market for 15 years. Usaj is also on the Denver Metro Association of Realtors Market Trends Committee.
• Lydia Lin, ONE Realty. A Colorado native, Lin can offer advice to those from ethnic communities trying to buy.
• Matt Rankin, vice president of operations for Taylor Morrison Construction, who will address questions about the home building market and the impact of shortages in building materials.
• Dan McMahon, Home Finance Director for the Colorado Housing and Finance Authority (CHFA). McMahon will address how people who can barely make ends meet, but want to buy a home, compete with those paying cash, paying thousands over asking price or simply having the ability to pay inflated prices.
• Charlie Farrell, CEO, Northstar Investments. Farrell can address questions prospective homeowners have about the best way to get their finances ready to jump to the front of the line.
RELATED: Why rising home prices could turn Colorado's mountain communities into 'modern-era ghost towns'
The town hall will be viewable afterwards at gazette.com, denvergazette.com, 9news.com, on the 9news YouTube channel and on 9NEWS streaming apps.
RELATED: The Denver real estate market is so crazy people are trying to buy homes that aren't for sale
SUGGESTED VIDEOS: Colorado real estate market