06.10.06
Welcome to the Colorado Springs Real Estate Blog
This blog is a spot for you to voice your comments and questions about the Colorado Springs real estate market. I am a Colorado Springs Realtor with an interest in market activity and trends. I love to watch the shifts and changes so the people I work with are informated about the fluctuations with their real estate investment. Whether someone is looking for a primary residence, vacation home, or income property, the changes affect their purchase in a variety of ways.
Right now, the central Colorado real estate market is seeing some interesting changes. Our intereste rates today for a 30 year conventional have inched up to 6.5%. This isn’t bad (in my opinion) in comparison to some historical rate activity. However, it is definitely resulting in a more cautious Buyer pool for Sellers. If you are planning to put your home on the market, it is imperative that you price it right and have it ’staged’ for successful showings.
Another change to be mindful of is the climbing foreclosure rates. Foreclosures are up for a number of reasons. Buyers have recently been stretching themselves to the max. In Colorado, there are no licensing requirements for lenders, so sometimes loan products and terms have been delivered in the way that compromises the Buyers’ ability to perform to the terms of the loan(s). Being a wise consumer in the home buying process means understanding loan terms and available products and also making a decision to purchase in a range that allows for a comfortable transition.
Please feel free to post your feedback on anything you see on the blog. I’d also love to see new topics of conversation! Keep coming back to see what’s changed.
