Colorado Springs Housing Recovery In Full Swing

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( — August 7, 2013) Colorado Springs, CO — Metro Brokers Real Estate Broker Associate Lori Jones is citing information provided by the Colorado Association of Realtors. “The state association had the following to report about housing activity during the second quarter of this year; ‘New Listings were up 15-percent for single family homes and 23-percent for townhouse-condo properties. Pending/Under Contract numbers increased nearly 12-percent for single family homes and 22-percent for townhouse-condo properties. The Median Sales price increased nearly nine-percent to 260-thousand dollars for single-family homes and nearly ten-percent to 170-thousand dollars for townhouse-condo properties. Meanwhile, the economy which generates the jobs that fuel housing demand continued to improve at a moderate pace during the second quarter. Budget sequesters and sluggish exports are taking a back seat to the housing recovery and stronger consumer spending. The impact of increasing interest rates has yet to be seen.’”

Jones says life is much better for buyers and sellers these days. “I can’t tell you how much more fulfilling my job is after all of us struggled so much over the past few years. So many homeowners see value returning to what is likely their biggest investment in life. We also encourage folks to be cautious when buying or selling during the recovery. I always urge anyone considering buying or selling a home to work with an experienced Realtor. The challenge today is that values are changing so fast that it’s best to work with someone who knows the housing market and can interpret what is often complicated housing data.”

Meanwhile, the Pikes Peak Association of Realtors, which serves the Colorado Springs area, agrees with Lori Jones about the value of using a realtor. “Millions of existing homes are sold each year, and while each transaction is different every owner wants the same thing, the best possible deal with the least amount of hassle and aggravation. Unfortunately, home selling has become a more complex business than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.”

More importantly, the home-selling process has changed. “Buyer brokerage, where Realtors® represent homebuyers, is now common nationwide and good buyer-brokers want the best for their clients. The result is that while hundreds of thousands of existing homes may be sold each week, the process is not as easy for sellers as it was five or ten years ago. Surviving in today’s real estate world requires experience and training in such fields as real estate marketing, financing, negotiation and closing the very expertise available from local realtors.”


Written by: Rob Armijo