 |
Here you can find a list of some useful articles related to travel and tourism. They contain useful tips for travelers and nformation about different travel destinations.
If you consider your travel article useful for our visitors, please e-mail to articles@nbportal.com Back
Real Estate Market Colorado Springs, CO Jun 22 2007
Colorado Springs, the second largest city, (Second to Denver), in the
state of Colorado, has a population of about 350,000. The city has all the
comforts of other large cities in the United States, but not the problems with
smog and traffic.
This makes the city of Colorado Springs one of the best
places to live in the United States. Real estate investors have also have
an interest in the city.
The market conditions for Colorado Springs
real estate are not in favor of sellers right now. In fact, buyers have
control of the market. Houses currently spend about 2 months on the
market. The average home sells for about $277,000. The average home
price has been rising over the past few months and is expected to continue to
rise.
There
is much hope the in a few years Colorado Springs real estate, will catch up with
real estate in Denver
. The job market is
expected to increase bringing in at least 10,000 new jobs. Whenever there
is a boom in the job market in a city, there is a subsequent boom in the real
estate market.
This is expected for Colorado Springs real
estate.
New construction will bring in a much needed supply for the
increase in the job market. This will lead to seller control of the
market.
Colorado Springs real estate investors would do best to
purchase real estate in the city now. Since buyers have control of the
market, investors will be able to negotiate lower prices on even the high-end
real estate. Once investors have purchased the property they should avoid
selling for a few years until the market has begin to favor
sellers.
Investors that currently hold Colorado Springs real estate
should also hold their properties until market conditions improve for
sellers. It is unlikely that high profits will be gained from Colorado
Springs real estate at this point in time.
There is hope for
investors to make a profit on Colorado Springs real estate right now. That
can be done through the purchase of foreclosed real estate.
Since the
foreclosed real estate is auctioned off and sold at a price much lower than
market value, investors have a better chance of getting profits this way.
If you are considering purchasing a foreclosed home, it is best to
research the market value of the home before making the final purchase.
This way you will be able to tell how much you will be able to sell the house
for. It would be unfortunate to pay a high price for Colorado Springs real
estate and not be able to resell it and make a financial
profit.
Although the
Colorado Springs real estate market does not favor sellers at this point, like
denver real state
, that does not mean that all
hope is lost. The expected job market boom and increasing economic status
of the city will serve to improve the market conditions in the city.
If you are currently a buyer for Colorado Springs real estate it is in
your best interest to buy now before the prices begin to rise. Sellers of
Colorado Springs real estate should hold their properties until market
conditions change.
|
|
|
|
