Of all the statistics, I have read lately I wanted to point out the Colorado Springs homes sales average. Last year we were in line with the sales average for the last 20 years. It is true that many of the sales that did transpire were either bank owned homes or compromised sales of some sort. This has to happen in order for our market to rebound. This year will be much the same as last year in my opinion. While prices remain low and interest rates at all time lows I believe this will continue to spur activity. I also hoping to see more support for first time home buyers needing down payment assistants with favorable interest rates. If we can get first time home buyers back in the market this will encourage activity in all areas, enabling current home owners to buy up to the next level.

Currently the rental market is stable, encouraging investors to purchase more investment properties. In today’s market you are allowed to finance up to 4 properties including your primary residence. I look for future support from our financial institutions to increase these limitations to get investors back in the market. Prior regulations allowed investors to finance up to 10 properties. We need to get back to this! If down payment requirements are adjusted that should get investors back into the market to help absorb inventory.

When investors come into the market, they provide housing for many people who can’t qualify for a mortgage. This mortgage meltdown has put people out and investors can cure the default and supply affordable housing.

All of this said please give us a call at The Brian Maecker Team so we can explain the pros and cons for your specific situation.

Thanks,
Tony Deppe
Buyer Agent