Here we go! A forecast! Actually what we are experiencing in today’s market, I foresaw in 2005. At that time, our market was running soley on interest rates and loan terms. We all enjoyed the fruits of that market.

Then 2006 & 2007 happened. The Crash, The Fall, The Sky is Falling, The Bubble is Bursting! The reality is that the market has been returning to normal. The 25 year average of homes sold is 8500 homes per year. In 2006 we sold over 10,000 homes and 2007 there will be around 9000 homes sold. That is still better than the average.

In 2008 we will see a year almost identical to 2007. I expect to see about 9000 home sales. The military is coming back right now and I think investors will come back into market to buy foreclosures. Higher priced homes may fall in value another 3-5% from summer values. Most sellers have adjusted. You can get homes in 2008 at 2005 prices. Interest rates should stay in the 6-7% range until the November elections. Foreclosures will continue to happen at a similar rate as this year.

All in all, Colorado Springs will be O.K. We won’t crash. We will stay flat. I’ve been selling for 22 years. Let my experience help you sell or help you find good values. Please contact The Brian Maecker Team at Re/Max at 719-593-2963 or our website at www.maecker.com.  

Thanks, Brian