Factors that make the Colorado Springs THE Hottest Real Estate Market in the Country | Barb Schlinker

 

Barb Schlinker Radio Show
719-301-1802 | 719-301-3900
Your Home Sold Guaranteed Realty Colorado

There is some much going on right now, a contested election, a pandemic with an increase in cases, yet the real estate market remains strong, why is that and what is the latest on activity in the real estate market? The only change for us with the pandemic is we have to limit the number of showings to 4 people at a time and wear; Masks, Gloves & Wipe Down surfaces after showing. I believe the market is strong because of the growth of this city: Space Force – also bring in Defense contractors, NASA, etc 15,000 + HIGH PAYING JOB, Amazon, 1,000 + JOBS.

This is a great time to buy a home AND A really great time to sell a home
Here is why:

  • Increase in sales by 25%
  • Increase in Average Sales price by 17.3% SF Homes
  • For Townhouse / Condo Increase = 35.4%
  • Decrease in Available Inventory by 59.7%
  • Let’s explore that:
  • Right now: The Average Sales Price is $431,104
  • If you bought a Single family home for $300,000 1 year ago
  • Its value now is $350,000
  • If you bought a Condo/Townhome for $150,000 – 1 year ago
  • Its value now is $203,000

Even though the market prices are Rising, It’s a GREAT time to invest in real estate here: Did you know that a Hedge fund is buying 500 homes a year here? Paying full price or over CASH. Just ask the Musick Family, I’m selling their home to that investor for $10,000 OVER ASKING PRICE! Their system: We find someone qualified to rent it for 1 year
They purchase it for CASH. I’m so optimistic about this market we are Buying Homes as Buy and Hold Real Estate!
I Just Bought One of My Listings for $250,000, $10K over asking because that was the market value. It’s a great investment!
Monthly Rental Income: $1700 If I hold it for 15 years (with someone else covering the payment) that investment could easily double in value! And by then it will be fully paid off as an income generating investment.

If you are thinking of investing in real estate, give us a call at719 301 3900
or visit BarbHasTHEBuyers.com

What other trends are you seeing IN THE REAL ESTATE MARKET?
Less than 1 Month Of Inventory in All Price Ranges up to $1,000,000 As of today: 572 Single Family Homes on the Market
1668 1 year ago during the same time. That means, Buyers, Financing Must Be Ready Enough to Convince a Seller you can close on time. Lender Pre APPROVAL, not Pre Qualification. Some Cash Reserves for Appraisal Guarantees. The buyer was willing to pay $5 – 15K if an appraisal comes in lower than the contract price! Expect to Make GREAT offers, over asking price, Escalation Clauses, Appraisal Guarantees, I just had a bidding war on one of my Monument listings: 5 Offers, All but one has Escalation Clauses. I’ll pay $2K over the highest offer up to X. Got a Contract for $25,000 OVER asking price.

 

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Barb Schlinker, Listing Agent

5 STAR REVIEWS
719-301-1802