Colorado is tough market for first-time homebuyers

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DENVER -- Be it ever so humble looks great on paper, but the reality is it's a seller's market in Colorado.

According to Bankrate.com, Colorado ranks as the eighth-hardest state for first-time homebuyers to purchase a home in the $350,000 range.

"That is the most affordable range for the new homebuyers, first-time buyers, and the inventory is not there at all," said Jill Svenson of Coldwell Banker.

Husband and wife Jill and Greg Svenson gave a tour of a townhome in Aurora that just went on the market.

Two floors, finished basement, updated kitchen. Up for grabs at $215,000.

"We need more inventory and less new homebuyers," Jill Svenson said.

That's not going to happen anytime soon.

So what can first-time homebuyers do to get that first home feeling?

First, work with a seasoned realtor who knows the market and inventory well. Also, work with an in-state lender who knows the local economy first-hand. And last, be patient and persistent. Stay in the game and keep your head in the game.