Outside Denver & Colorado Spgs- Colorado Real Estate Mkt Predictions (Colorado Springs: days on market, 2014)

[ocean2026]

I know there is a thread about Real Estate in Colorado,however they have been way off topic for a long time.

Housing predictor predicts declines in Den, Ft Col, & Boulder of about 5-7% this year.

What about the rest of the state? How are the markets for the smaller towns. Mountains

[sterlinggirl]

The mayor of Rifle has admitted that they're in a 'bubble', and Grand Junction houses are selling for about 6X income. Both are highly dependent on the energy industry which is laying off people by the hundreds.

A 25-50% decline wouldn't surprise me in either market.

[Josseppie]

This was just in the Pueblo Chieftain about Pueblo's market:

"The rate of foreclosures has fallen from its high in 2007.

Another report shows the subprime mortgage mess may have peaked last year in Pueblo, one of the counties hardest hit by the 2003-2007 era of high-risk home loans."

The link: http://www.chieftain.com/articles/2009/02/24/business/local/doc49a37b82af70e591555733.txt

Also, with the expected increase in Fort Carson this year that should positively affect the housing market in the Pueblo area.

[2bindenver]

I keep seeing inventory fall and Days on Market decline. I can't fathom a 25% fall.

Will some house sell for half of what they did in the past? Yes. There are many healthy neighborhoods with low inventory. There are a few hard hit areas. Neither will define a market area.

[LadyDonna]

This article might give some insight into the Denver area market. I was told that Colorado Springs housing market is about 6 to 8 months behind Denver. 10 Hottest housing markets to watch in 2014. 10 Hot US Housing Markets To Watch In 2014 - SFGate

[JD401]

Originally Posted by ocean2026

I know there is a thread about Real Estate in Colorado,however they have been way off topic for a long time.

Housing predictor predicts declines in Den, Ft Col, & Boulder of about 5-7% this year.

What about the rest of the state? How are the markets for the smaller towns. Mountains

Declines in values? In Denver? By 5-7%? Absolutely no way. Gains of 1-3% are more likely, depending on the neighborhood. Foreclosures are way down, inventory is down, and people are moving here at a good clip. No idea how that could possibly lead to a decline.

[JD401]

Originally Posted by ladydonna

this article might give some insight into the denver area market. I was told that colorado springs housing market is about 6 to 8 months behind denver. 10 hottest housing markets to watch in 2014. 10 hot us housing markets to watch in 2014 - sfgate

nt

[JD401]

Originally Posted by Josseppie

This was just in the Pueblo Chieftain about Pueblo's market:

"The rate of foreclosures has fallen from its high in 2007.

Another report shows the subprime mortgage mess may have peaked last year in Pueblo, one of the counties hardest hit by the 2003-2007 era of high-risk home loans."

The link: http://www.chieftain.com/articles/2009/02/24/business/local/doc49a37b82af70e591555733.txt

Also, with the expected increase in Fort Carson this year that should positively affect the housing market in the Pueblo area.

I don't have numbers in front of me, but unemployment in Pueblo is still incredibly high - over 10%. They'll take a while to recover.

[Josseppie]

Originally Posted by JD401

I don't have numbers in front of me, but unemployment in Pueblo is still incredibly high - over 10%. They'll take a while to recover.

It's now under 9%.

There is a large development planned with over 24,000 acres that at build out will have the states largest tech park called Pueblo Springs. Because of this I am extremely optimistic about the mid to long term forecast for Pueblo.

[DOUBLE H]

Originally Posted by JD401

Declines in values? In Denver? By 5-7%? Absolutely no way. Gains of 1-3% are more likely, depending on the neighborhood. Foreclosures are way down, inventory is down, and people are moving here at a good clip. No idea how that could possibly lead to a decline.

Just a "heads up" here people. This thread started on March 12, 2009.