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Old 12-05-2006, 03:27 PM
 
Location: Colorado Springs, CO
53 posts, read 451,671 times
Reputation: 25

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The real estate market is a little soft, but is not going down anytime soon. According to the National Association of Realtors, house prices still rose 5% in the 3rd quarter of 2006 (from last year). That is not the red hot numbers it has been, but is not terrible.

A buyers market is a good time to buy a home. You can get some good concessions (I recently bought a home and got $6000 in closing costs).

Colorado Springs has a few too many homes on the market right now, but the city will probably weather the current market correction better than many places. As long as we have 5 military bases here, we are not going to go into a major recession.
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Old 01-03-2008, 11:49 AM
 
Location: Colorado Springs
1 posts, read 3,077 times
Reputation: 10
Default Colorado Springs Homeowners see Nice Appreciation in 2007

Great News! Colorado Springs homeowners saw a healthy appreciation in 2007! The Colorado Springs real estate market saw an average sales price of $269,075. This is UP from the 2006 average sales price of $264,755. In fact, Colorado Springs has seen great appreciation since the MLS started recording data in 1994. The average sales price in Colorado Springs has jumped $100,000 since 1999!
[ mod cut ]

Last edited by Mike from back east; 01-03-2008 at 12:46 PM.. Reason: Links to your site not allowed in postings, only in your profile.
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Old 01-03-2008, 12:15 PM
 
2,652 posts, read 8,580,242 times
Reputation: 1915
Just be sure not to overpay and you will be fine in the long run.
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Old 01-03-2008, 01:53 PM
 
Location: Falcon
268 posts, read 1,129,878 times
Reputation: 100
I really gotta wonder about some of the people selling their houses, though. We just went through this process and ended up buying a new home. Most of the resell homes we visited looked like the owner really didn't want to sell. Many were dirty with visible repairs needed. I'm not sure if things would sell if they did clean them up, but they'd have a better chance. It's almost like they have given up and are just going through the motions to sell.
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Old 01-03-2008, 02:02 PM
 
Location: Colorado Springs
648 posts, read 2,940,129 times
Reputation: 191
Well, I definitely think this may be an area where their agent has not explained to them how critical it is to have their house in showing condition. When you are competing with new builds, you have to try to get your how to look as close as possible to a new build. Otherwise it is not going to sell unless you have somebody that has a good eye and can see past the messy house. Maybe the realtors should create a DVD that has 10 episodes of "design to sell" from the HGTV network on there. I know my husband and I have been watching it and getting ideas for our house.
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Old 01-03-2008, 02:22 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,739,305 times
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When we sold our house in California our realtor staged our home (at her expense). We had three small kids at the time so you better believe it's tough to keep the house is showing condition. Fortunately for us we were selling at the hottest peak and our house sold fast - and over our asking price too.
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Old 01-03-2008, 02:28 PM
 
1,267 posts, read 3,288,602 times
Reputation: 200
Quote:
Originally Posted by Jubi_Ash View Post
thanks for the replies. Here is an article I found that says risk of prices falling there are slim. I'm surprised to hear that houses aren't selling.

http://www.multifamilyinvestment.com/apt2.htm (broken link)

under
Recent Articles on the Colorado Springs Economy:
"Jan18,06 - Study; House Buying in City is Low Risk"

-Emily
according to a couple sources online, prices ARE falling in denver. -5% overall (residential), -15% condos (year over year, as of last month) according to one source. condos might be bringing the "overall" into the red. i don't know. if i remember correctly, that was from metrolistings or the multiple listings, posted by a realtor. you can get a somewhat reasonable feel for it (i'd think) from trulia.com or zillow.com. they pretty much comp things for cities, neighborhoods, and for particular addresses. they both indicate falling trends for much of denver metro that i've looked at lately. but, I DON'T KNOW WHAT DATA TRULIA USES (zillow tells you outright - i've never found it on trulia). <<-caveat

Last edited by hello-world; 01-03-2008 at 02:38 PM..
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Old 01-03-2008, 03:31 PM
 
8,317 posts, read 29,466,506 times
Reputation: 9306
Quote:
Originally Posted by WagneriTeam View Post
Great News! Colorado Springs homeowners saw a healthy appreciation in 2007! The Colorado Springs real estate market saw an average sales price of $269,075. This is UP from the 2006 average sales price of $264,755. In fact, Colorado Springs has seen great appreciation since the MLS started recording data in 1994. The average sales price in Colorado Springs has jumped $100,000 since 1999!
[ mod cut ]
If you own a home that you bought years back, I guess you could call it great news. For younger people, who are struggling to be able to buy a home these days and struglling to be able to afford it on their income, it's hardly good news at all. When we Baby Boomers get old and have lived up all of our savings and equity, somehow I don't think we may get a lot of sympathy from the generations who followed us who aren't going to enjoy our "good fortune." They may just remember how we gloated over the real estate boom, and left them out of the American Dream of home ownership.
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Old 01-03-2008, 04:03 PM
 
1,267 posts, read 3,288,602 times
Reputation: 200
Quote:
Originally Posted by jazzlover View Post
If you own a home that you bought years back, I guess you could call it great news. For younger people, who are struggling to be able to buy a home these days and struglling to be able to afford it on their income, it's hardly good news at all. When we Baby Boomers get old and have lived up all of our savings and equity, somehow I don't think we may get a lot of sympathy from the generations who followed us who aren't going to enjoy our "good fortune." They may just remember how we gloated over the real estate boom, and left them out of the American Dream of home ownership.
excellent point.
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Old 01-03-2008, 05:19 PM
 
77 posts, read 352,334 times
Reputation: 31
Wow my family will be relocating there no later than June 2009. We plan on living off base and using our BAH to pay for the cost. Hopefully the market won't get to expensive by then. I would really hate to have to live in government quarters again. What about utilities, here in NY I can pay an average of $200 a month to heat a single story 2 bedroom. Its crazy to me.
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