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Old 07-12-2017, 06:31 PM
 
384 posts, read 294,247 times
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I'm in one of those cheap homes. My home just went under contract yesterday, within 6 days, Stetson Hills, I bought it last June for 257K and it went for 274K . I am so grateful because I believe that I had overpaid for this home . Homes in this price range will always sell quickly , I am downgrading and have a cheaper shanty under contract in Tennessee LOL ~
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Old 08-05-2017, 01:55 PM
 
Location: Colorado Springs
6,455 posts, read 7,058,940 times
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Colorado Springs-area home sales and prices climb again in July | Colorado Springs Gazette, News

"Homes sold at a lightning pace in July, spending an average of 22 days on the market before selling. By comparison, homes averaged 77 days on the market just three years ago.

- The median price - or mid-point - of homes sold in July rose to $285,000, a 10.7 percent jump when compared with the same month last year. Median prices now have risen for 32 consecutive months."

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Old 08-08-2017, 12:11 PM
 
4,737 posts, read 2,771,634 times
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My wife and I were planning to buy a house this fall, but we decided that $290k or so probably wasn't enough to get what we wanted. We are instead waiting until next spring or summer when we will be able to spend $350k+, and maybe $400k. We are hoping that price point has less competition. Within rising interest rates and some initial signs of a market slowdown, I think the chances that there is significant appreciation between now and then are low.
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Old 08-11-2017, 12:49 PM
 
1,290 posts, read 1,527,441 times
Reputation: 905
great news for those that bought homes 10 yrs ago
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Old 08-11-2017, 02:31 PM
 
Location: Colorado
16,042 posts, read 10,294,783 times
Reputation: 29960
Um...just saw there was a thread about rental houses...I'm moving what I just said here, over there. Please disregard! lol
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Old 08-11-2017, 02:39 PM
 
1,041 posts, read 754,658 times
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Quote:
Originally Posted by Wittgenstein's Ghost View Post
My wife and I were planning to buy a house this fall, but we decided that $290k or so probably wasn't enough to get what we wanted. We are instead waiting until next spring or summer when we will be able to spend $350k+, and maybe $400k. We are hoping that price point has less competition. Within rising interest rates and some initial signs of a market slowdown, I think the chances that there is significant appreciation between now and then are low.
Best of luck (!)
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Old 02-07-2018, 04:16 AM
 
Location: Colorado Springs
6,455 posts, read 7,058,940 times
Reputation: 22249
Default The Beat Goes On

Colorado Springs-area home prices jump to record highs

Colorado Springs-area home prices jump to record highs | Colorado Springs Gazette, News

The median price - or mid-point - of homes sold in January rose to $295,000, 11.3 percent higher than a year earlier, the association's report showed. January's figure easily topped the area's previous record high of $285,250 last June.

Another factor driving prices: a tight inventory of homes for sale.

The Realtors Association report showed that listings totaled just 1,236 in January, which some local real estate experts say is likely a record low. By comparison, listings routinely topped 5,000 a month during the Great Recession - and sometimes climbed past 6,000 and 7,000 a month.


Now that interest rates have ticked up, I anticipate a rush of buyers chasing FOMO, i.e. fear of missing out.
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Old 02-07-2018, 07:12 AM
 
921 posts, read 780,085 times
Reputation: 532
as long as people keep moving here and filling up those houses, houses are going to keep soaring. my house so far gained 50k in value in just 3 years - insane...

Saw the same think when I was in Miami. eventually when people stop flocking to COS, i think the house price will subside; but im not seeing that anytime soon. People keep flocking to COS and denver which is driving the rent and house price up - which is fine by me!!! hope by the time I retire, my house price is worth 6x the value

prob wont happen, but cant predict the future
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Old 02-07-2018, 07:16 AM
 
3,273 posts, read 1,833,246 times
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I would worry about gas prices personally. Rising gas prices will likely be the underlying reason why the economy implodes, particularly with a weak dollar, which should raise the price of oil, as the cost becomes cheaper for those who trade in currency's that are appreciating against the dollar; thus, raising demand, and raising the price in terms of USD.

It won't be long before gas prices are sky high again. I don't think people factor reality into their buying decisions.

With the XIV imploding, it appears as if everything is starting to unravel.
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Old 02-07-2018, 08:50 AM
 
837 posts, read 577,948 times
Reputation: 1072
Not surprising, although I am surprised at how fast it is going.

Is this really sustainable?

The home we bought a few months ago, has a nearly identical one listed for $60k more across the street. It's UC after a few days, but we'll see what it sells for. We couldn't afford to rent the house next door either. We're not in a very desirable area I don't think.
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