Z Davis Robison and his wife, Mary, tried and failed for eight months to buy a house near their shop in Old Town Lafayette, before literally stumbling on the one they snapped up in January.”The time for thinking about what your needs are is before you start looking,” said the Oklahoma transplant. “Whenever you see something, you have to be ready to pounce in this market.”Mary was driving from their shop, Curating the Cool, and saw the landlord of a neighboring rental had just posted a “For Sale By Owner” sign. Z raced across the street to look at the place. The owner was still there, and Robison wrote a $5,000 check on the spot to seal the deal.Just when the supply of homes available for sale in metro Denver seemed like it couldn’t possibly go any lower, it has gone lower — a lot lower.Metro Denver’s inventory of homes for sale busted through new lows in December and January and could do it again in February, and that has left buyers frenzied, even desperate.After slipping below 5,000 in December, the number of homes available for sale stood at only 4,171 at the end of January, according to the Denver Metro Association of Realtors, or DMAR, which uses a wider 11-county definition of the metro area.So how low is 4,171? It is only one-eighth of the all-time high inventory of nearly 32,000 in the summer of 2006, during the housing bubble, and a quarter of the 12-year average of 16,717 homes available for sale at year-end. The inventory is now so low, some in the industry argue, that it is causing the market to distort and contort in unexpected ways.”We have never seen it this low,” said Kelly Moye, a Realtor with Re/Max Alliance in Broomfield. “It is a bit panicked. We are all in a race.” Moye on Monday sent out 1,200 postcards to owners with their updated home prices. They told potential sellers that their homes are worth more than they realize and now is the time to sell.”Even if they do realize it, they have nowhere to … – Click Here To Visit Article Source