Although the market has softened a bit, the demand for homes is strong because the supply is so low. Today, Deborah Elliott-Shultz discusses with Bill McAfee of Empire Title about the housing market in Colorado Springs.
Before we get to the market update, both Deborah and Bill wanted to let listeners know about post-closing occupancy clauses. This is an agreement that allows the seller to remain in the house that you just bought for a determined amount of time. Be forewarned, this can cause problems because it can be horribly difficult to get them out.
With regards to the actual market in Colorado Springs, bill was thinking that the sales numbers would start to decrease in the area because of the possibility of running out of inventory. But that isn’t happening in the $200,000-$400,000 range. This portion of the market makes up 60% of sales and is the hottest portion of the market. When discussing less than $200,000, however, there isn’t a lot available right now. The average days on market for these homes is less than 15 days.
While the demand is still high, curb appeal and certain points of pizzazz with your home are still crucial. Come listen as Deborah and Bill discuss the current real estate market and what it means for you. To discuss any questions you may have, Deborah can be reached at (719) 641-1357. You can also discuss questions with the team at Empire Title at (719) 884-5300.