It’s relatively easy to evaluate the performance of past Colorado Springs Real Estate markets, given the variety of opinions from economic experts who scrupulously sort through the data with a fine-toothed-comb. What you’ll find is not really all that shocking. Regarding hindsight evaluations, most experts share similar findings. Yet, when it comes to forecasting future projections, the similarities become less and usually, optimism fades with multiple comparisons.
Nevertheless, here’s where the challenge lies today. What can the buyer and seller expect about market efficacy for 2011? Good question.
If I had a crystal ball to provide the exact answers, then I would give them to you. However, given the market performance of 2010 in Colorado Springs, I do have some opinions about future forecasting that are helpful to the buyer, investor and seller who plan on participating in the 2011 real estate market.
Empirically speaking, here is one poignant thoughts from someone who has sold over $160 million dollars of real estate in Colorado Springs over the years:
Seller’s Tools – During the month of December, our office has already received a slew of listing calls. A high percentage of these 2011 sellers are hoping that the market is stable enough to render top dollar for their properties. Of course, sellers have more tools at their disposal to form their selling-based opinions before consulting a Colorado Springs Realtor, such as Househunters, reality shows, Trulia, Zillow, other real estate MLS sites, etc. However, these tools are just that, tools, many of which, have high percentages of errors, outdated sold statuses, inaccurate market analyses, and showcase unrealistic buyer and seller real estate practices. As a result, seller expectations are somewhat inflated against realistic market forces.
2011 will be a very interesting year. However, I anticipate that the above-mentioned buyer and seller behaviors will be part of the market dynamics for next year. Buyers will have plenty of options to make prudent home purchases. And sellers, for the most part, will have to compromise somewhat on listing price (and many have already embarked on this approach), yet in many cases; sellers will not have to give their properties away if remaining financial solvent from stabilized employment.
Feel free to contact Colorado Springs Realtors at Selley Group Real Estate, LLC: 2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.
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