Real Estate Market for 2019

Welcome to City of CS Real Estate and Lifestyle with Deborah Elliott-Shultz where you get fresh ideas for selling your home, tips on buying a home, information that will inform you on businesses that support the real estate market, and people that can enrich your life. Yeah, that’s all part of the lifestyle.

Current real estate market, what you might find happening this summer!

Last week, Deborah Elliott-Shultz and Bill McAfee the owner of Empire Title discusses the real estate market in January of 2018 and January of 2019, and how the numbers are indicating that normalcy is coming back to the Colorado Springs market. Today, the discussion is about the current real estate market and what they feel will happen in this summer.


Last year, multiple offers on homes were coming in a fast rate and some of those offers were higher than the listing price, leading the realtor to believe there was no way the appraiser would approve the loan. But often, the appraisers were going with the price offered. Interestingly, it was a very challenging market for appraisers. Why? Appraisals are typically based on the previous six months before the sale, not on the demand, and it appears they were actually given some leeway in this last market because it was driving so hard, a frenzied market we’ve never before seen. There were five straight months of record breaking average sales price along with multiple offers with escalation clauses, appraisers were in a market they hadn’t ever experienced, either.


What is an escalation clause? It is a clause that a realtor can add to a contract that states that the buyer will pay x amount of dollars over and above the highest offer that the seller receives.


Even though normalcy is returning to the market, realtors are still seeing escalation clauses in the offers. But there’s another twist. Some people are also attaching buyer love letters with the offers. These are letters from the buyer to the seller introducing themselves including children, pets, pictures, and other information about themselves to try to sway the seller.


This can be a huge Pandora’s box! Sometimes, these letters can cause issues with the Fair Housing Act and open up the seller to lawsuits for turning down a prospective buyer. What? That’s right. If a seller reads the letter and decides to go with someone else, that person can come back and say it’s because the seller didn’t like the buyer’s race, marital status, family status, income, or whatever it may be. For sellers, make sure “no love letters” is added to the MLS and buyers, please don’t sent those in.


How is the real estate investing market? Right now it’s really hard to find things to invest in, even through the public trustee sale. And you have to be really careful in this market, because the margins are getting tighter and tighter.


Any advice for a primary homeowner? As a home buyer, if you have a stable job, if you can afford the payments, a home, really shouldn’t be looked at as an investment, it’s a place to have a family. And if you’re not going to be in the house for at least five years, don’t buy. Typically, real estate will appreciate over time, but not enough to make a profit after taxes and fees. If you’re military and not going to be in the area for more than five years, don’t buy unless you’re willing to become a landlord, or else you could find yourself owing money.


And remember, if you qualify for a $300,000 house, don’t buy a $300,000 house. You don’t want to be house poor. Things come up in life and it’s important to have a little wiggle room. Deborah illustrates this point with a very personal story about the importance of having a comfortable mortgage payment.


Have you heard about an area non-profit called Peak Producers? This organization is made up of real estate agents in the top 10% and is now 10 years old. It seeks to improve the local community and help change people’s lives. At one point, our city cut trash pick up, the Peak Producers stepped in and cleaned four intersections which equated to almost two tons of trash picked up! Other ways they’ve helped Colorado Springs is working with the Springs Rescue Mission and their work readiness program. This program comes alongside a gentleman who is getting ready to graduate from their year-long addiction recovery program with marketable skills in culinary services. When these people graduate, they will need money to find housing, transportation, and other living expenses. Peak Producers gives the graduate about $5,000; approximately $2,500 of that is given up front to help pay for those immediate expenses. Over the next five months, the graduate brings in their pay stubs and the UA (urinalysis) just to make sure they’re not back into drugs or alcohol. If they pass, Peak Producers then provides a stipend over those next five months just to boost them to keep them going.


Peak Producers raised $68,000 last year for the work readiness program and raised over $50,000, the year before. They’re looking at a couple other programs this year that will go more toward women. It’s very exciting. It is a lofty goal, but Bill truly believes this organization can raise over $100,000. Homelessness is a serious issue. But it’s also very complicated. Which is why Peak Producers tries to find programs that are really making a difference where you can see people leave homelessness, go back into society, take care of their families, and be back with their loved ones.


If you want to know more about the Peak Producers, you can find out more information at


Come listen as Deborah Elliott-Shultz of City of CS Real Estate and Lifestyle discusses with Bill McAfee the importance of buying below the amount your qualified for, why it might be better to have a realtor, how many months of income to have in the bank before becoming a realtor, and the important role a mentor has in the professional life a new realtor.


If you have more questions, you can find Bill McAfee at or call Empire Title at (719) 884-5300.


If you have any questions or would like to discuss something you have heard on the show, call Deborah Elliott-Shultz at (719) 641-1357. She enjoys having conversations with listeners of the City of CS Real Estate and Lifestyle show. And check out if you’re interested in Deborah’s preferred provider list, the people whom she has vetted and works with in her business. You can also find other useful information and previous podcasts at


And please remember that all providers and businesses Deborah Elliott-Shultz recommends have been vetted…which means Deborah uses their services, too.


Are you interested in finding out about Deborah Elliott-Shultz and City of CS Real Estate and Lifestyle’s flat listing fee of $3500*? Call (719) 641-1357. And, have you heard about our buyer’s rebate? That’s right! We give back 1/3 of our commission to help you with your closing costs or to buy new appliances which will be reflected on the settlement statement, and you’ll get it at closing along with a W-9.


If you have any real estate questions, or to find out how City of CS Real Estate and Lifestyle can help make your real estate experience more affordable, call Deborah Elliott-Shultz at (719) 641-1357.


*If listed for under $600,000 and does not include the buyer’s agent fee.

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