Rent Real EstateA Record Year for Colorado Springs?
Colorado Springs will soon be welcoming fall weather. Will it be welcoming a booming market as well?
"Living in the shadow of America"s Mountain, Pikes Peak, is amazing. So many people travel for this area for vacations and we get to live here. Close to ski areas, hiking, horseback riding, biking, trails, fishing, rafting and more. This whole area is starting to move in the upward direction and we expect even more upward movement as the town fills with more military. We are blessed to have the great military personnel and their families in our midst and I wish to thank them for their service," says Realtor Diana Taylor about the area.
Fallish weather has arrived already, and the aspens will be starting to turn shortly. 2005 promises to be a record year for the Colorado Springs real estate market, with very strong sales of both resale and newly built homes," says Realtor Rick Van Wieren
"We continue to have a good balance of supply and demand, with many new developments providing a good supply of lots for new construction as well. New construction costs are rising faster than resale homes, making room for appreciation. The recent disaster in New Orleans may put additional pressure on price and availability of construction materials. Interest rates are still great (mid 5"s) making this a great time to buy and sell in the Springs!"
Realtor Deb Jones notes, "Colorado Springs is still experiencing a buyer"s market. It is not unusual for buyers to get seller concessions including payment of buyer"s closing costs. New home building is still going strong."
She adds, "However, prices for brand new homes have gone up due to increases in the price of building supplies (lumber, steel, etc.). Builder incentives and lender first-time-home-buyer programs along with the still low interest rates make home ownership a reality for many folks who never would have considered themselves able to purchase a home."
Click here to view current Market Conditions in your location.