Dear Friends,

In my efforts to keep you all informed of trends and thoughts I want to portray real things. The problem I’m having is that most Colorado Springs Real Estate news is depressing.

I mean it seems to be a daily occurrence that the market is in foreclosure, the market is depreciating, and the market is this or that! The reality is the market for consumers depends on what their goals are. The market for REALTOR® is between their ears.

The consumer buyer has to know that this is probably the best time to buy a home in the last several years. Interest rates quoted by Kevin Bent at Cherrywood Home Mortgage was running between 5 1/2-6%. That is right at record lows. In the Pikes Peak Association MLS system, there are over 5,500 homes for sale. In most areas, there is plenty to choose from.

The consumer seller has seen their home prices drop 7-10% from 2005 values. Prices peaked with record sales in 2005. In 2006 and 2007, the average sold home price has dropped back to the $220,000 mark. But if you are not a serious seller, you can watch the market rebound. I think 2009 will be when prices will start climbing. For the rest of 2008, we will not see any real appreciation.

Foreclosures are continuing to affect the market. Sellers will battle some of these homes for the buyers that are out here. I am finding that foreclosures are not that good of a deal. Most that I have seen have needed work and the asking prices have not reflected that. So it really does take a professional REALTOR® like us at The Maecker Team to interpret value.

Here at the Maecker Team, we are being very productive. At mid-February, we have sold 16 homes so far this year. Half have been sellers, half have been buyers. Any REALTOR® who says the market is bad is just not able to adapt. I have been selling since 1988 and my experience has been very valuable to our clients. To my current clients, thank your for your support. To my future clients, I look forward to being your successful REALTOR®.

Thanks,
Brian

When is the right time to sell a home in Colorado Springs? In the Pikes Peak MLS it is taking an average of 127 days to sell a home. How much time you have may be the biggest concern you have. Or, are you trying to figure when you can maximize your sale? Well I hope I can help.

First, now is always the best time to sell. Now can be in February or it can be June or November. There is a market for buyers at all times of years. In El Paso County the biggest surge in any given year is between March and July. It tapers in August & September and then surges again in October & November. Depending on weather January and February hold pretty consistent.

If you are trying to work around kids schools years, one should put their home on the market mid March and April. But, if you want to beat the rush try February, less competition.

Now if you want to maximize your price you will have your best chances June-August. If you live in a townhome or condo you are pretty much season resistant. Condo, Townhome buyers are usually unattached and don’t have specific time frames.

All of these times can vary because of interest rates and local economy variances. If there is job gain or loss it affects the market. As you know, rates always affect the market. These 2 factors are a heavy influence so they have to be considered.

So when is the best time to sell a home in Colorado Springs? It is Now!! Rates are low, jobs and military are coming back. Homes prices are still low. All of this news is bringing buyers back into the market. If you do have to sell, price aggressively. If you don’t have to sell, stay on the sidelines and let the “Have To’s” get through the market.

Please call if I can answer more question at 719-593-2963 or visit my website at www.maecker.com.  

Thanks,
Brian