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