Viccy Thongmany
DENVER, Colo. -
Sales of new U.S. homes rose 9.6 percent in July as first-time home buyers seized on a tax credit that covers 10 percent of the home price, up to $8,000.
This is great news for many, but not necessarily for people like Viccy Thongmany.
She and her boyfriend have been looking to buy a home in metro Denver for a year now with no luck. But it's not because there aren't homes they like and want to buy.
"We have been outbid on a number of homes," says an exacerbated Thongmany.
Count outbidding as a reflection of rising local home prices. In fact, according to the Denver Business Journal, home prices, rose in June for the 4th consecutive month.
"It's frustrating," says One Realty's Lyna Nguyen.
"On the one hand, we have been slammed with business the past couple of weeks, but we have had a lot of clients get outbid for properties they want."
Standard & Poor's Home Prices Index ranks Denver as 3rd lowest year-over-year price decline out of 20 cities.
Thongmany has narrowed her search to the cities of Arvada, Thornton and Westminster. She says she won't give up and just buy a home for the sake of buying a home.
"We'll probably just lay low for a while."
Realtor Nguyen says now is still a great time to buy and sell a home, especially with the first-time tax credit for home buyers, which expires November 30th. Buyers must close before that date.
"Patience," says Nguyen, "is the key."
She and her boyfriend have been looking to buy a home in metro Denver for a year now with no luck. But it's not because there aren't homes they like and want to buy.
"We have been outbid on a number of homes," says an exacerbated Thongmany.
Count outbidding as a reflection of rising local home prices. In fact, according to the Denver Business Journal, home prices, rose in June for the 4th consecutive month.
"It's frustrating," says One Realty's Lyna Nguyen.
"On the one hand, we have been slammed with business the past couple of weeks, but we have had a lot of clients get outbid for properties they want."
Standard & Poor's Home Prices Index ranks Denver as 3rd lowest year-over-year price decline out of 20 cities.
Thongmany has narrowed her search to the cities of Arvada, Thornton and Westminster. She says she won't give up and just buy a home for the sake of buying a home.
"We'll probably just lay low for a while."
Realtor Nguyen says now is still a great time to buy and sell a home, especially with the first-time tax credit for home buyers, which expires November 30th. Buyers must close before that date.
"Patience," says Nguyen, "is the key."
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