Colorado Springs Real Estate Market
If the torrid pace of local home sales continues, 2016 will blast through all previous records for Colorado Springs home sales. For 5 consecutive months, home sales and prices have hit all-time records. The winter lull…well it never happened. December felt like June with over 1,100 homes sold, and the total for the first 3 months of 2016 of nearly 2,900 sales is an all time record. Real estate experts, like us, think we’re on track for more of the same. There are a lot of reasons, including a much-improved local economy providing thousands of higher paying jobs, our growing population, silly-low mortgage interest rates, and a growing group of young home buyers entering the home market for the first time.
What is it like to be a seller in 2016? Well, the timing has never been better. And while the task may seem easier than ever, it’s never been more important to have a skilled real estate professional at your side to keep a steady hand on the transaction. The feeding frenzy in certain price ranges can create a mind-numbing variety of multiple offer scenarios. Is the highest offer the best one? Not if the buyer gets cold feet and quits the deal at the last minute. It’s a challenge for even the most experienced agents to negotiate, not only the highest possible price in today’s market, but also a deal that will get to closing – without any legal nightmares after the fact.
What’s it like to be a Pikes Peak area home buyer in 2016? It can be an all-consuming and stressful process to find the right property in the right price range, and be the successful bidder when there are competing offers. A skilled buyer’s agent has the tools to help buyers win, keep a cool head, and be smart about their biggest financial investment.
