Real Estate News
For the latest trends and news about Colorado Springs, Fountain, Monument area Real Estate and Mortgage information check in frequently for up to date and relevant News.
The Synergy Team has one goal. To make sure you have the best information possible to make a great home buying or selling decision. If you have something positive to add, let's hear it!
Six years and 4 Trillion into the massive QE program enacted by the Fed to stimulate the economy and promote job growth, economic data is still not that great.
Today, we saw private job creation in May reported less than expected and recent GDP readings show the first Quarter GDP in negative territory.
So we need JOBS!
When getting with a mortgage lender one of the first questions they ask is where do you work and for how long. If you have a great job history, even if you moved jobs but stayed in the same industry, you can still qualify.
In Colorado Springs, we added an anemic 534 jobs a year from 2000 until now. State wide the average per year is 1200 per year added. This might sound like bad news, in some ways it is, but here is why it is good for home prices. Colorado Springs is more stable than Denver where prices are skyrocketing. For buyers this isn't good news. In Colorado Springs, our stability has held prices at more reasonable levels. So there are still great deals for Buyers and Sellers that need to buy after selling.
Call us for more info...
According to the Mortgage Bankers Association, Mortgage applications were 5% higher in April over March. What does this mean to you? It means that if you are a Seller, you have Buyers looking to Buy! Although Colorado Springs and the surrounding area has lower than normal inventory, there are still some great deals for you as a Buyer.
Sellers, if you think about it, with Interest rates still very low, you can sell your home AND still get a great deal even with home prices rising.
Personally, I have noticed that first quarter was super busy with buyers and sellers, THEN inventory got tight, now its increasing. The lull that some agents speak of is very temporary. School Prom, Graduations and prep for vacations is a reason for the lull but it will pick up. Get that home spruced up and on the market if you want to take advantage of this selling season.
Synergy Realty Group, Inc
Colorado Springs and the surrounding area is HOT. Inventory is at an all time low, investors are losing their minds trying to find something to fix and flip or buy and hold and buyers are getting a bit frustrated. Here are some tips for BUYERS.
1. Don't be afraid to make offers. Speed is key in getting a chance at getting tot he closing table.
2. Open your mind to other areas of town to live. Being tied to one area can hurt your chances of getting into a home.
3. have your ducks in order: Lender letter, Earnest money, money for Inspection and Appraisal is critical to getting your offer accepted over others.
4. Its a Sellers market, so sellers know the inventory is low, so be prepared to see some negotiations from the seller. They may not want to pay for all you ask or accept aggressive offers. Be realistic.
5. Hire a Realtor! Buyers agents do not cost anything. They get paid by the seller even though they represent YOU.
I hope this helps! have a great day.
Charles at The Synergy Team