Kim Pitaniello, a RE/MAX Alliance agent in Greenwood Village recently appeared on ABC’s Nightline Prime “I Want That House.” The feature is centered around the current upswing in the residential real estate market, which as a result, has created situations where buyers are finding themselves in bidding wars.
“I was excited to be a part of a feature that really sheds light on where we are currently at within the residential real estate market and how in many cases buyers are going head to head with other buyers in bidding wars,” said Kim Pitaniello.
It has been the hottest real estate market in years with home prices going up so quickly. Also featured in the video is real estate guru and Shark Tank Investor Barbara Corcoran who says “there is so much demand, not enough inventory, the builders can’t catch up fast enough … we just don’t have enough houses to go around.”
In the video, Pitaniello is shown working with buyers in the Highlands Ranch area who are new parents looking for their first home to raise a family. As they explore multiple listings and attempt to make numerous offers, they are realizing how fast homes are going under contract and becoming unavailable. Of the five homes visited by Kim’s buyers, four of them had offers within 48 hours and went under contract.
“In some cases, homes aren’t even on the market for less than 24 hours before receiving offers that exceed the asking price,” said Kim. “With so little inventory and an abundance of buyers, the ball rests in the seller’s court and as a result, requires buyers to act fast and with strong offers.
As shown on ABC’s Nightline Prime feature, there are many cases where buyers are attaching personal notes, videos and pictures to their offer letters in hopes of persuading the sellers to choose their offer.
Kim has been in the Denver and surrounding areas over the last 10 years, she has been one of the top RE/MAX agents in the world. Kim specializes in the Denver metro area, focusing mostly in the southern part including Greenwood Village, Highlands Ranch, Parker and Castle Rock.
“We were very pleased to see Kim be a apart of ABC’s feature,” said Chad Ochsner, RE/MAX Alliance president. “Kim has really focused and worked hard on adapting from the buyer’s market to a seller’s market, while still servicing her clients with speed and results.”