The Greenhaven Real Estate Market is definitely split. Based on recent MLS data, it shows that there is 17 months of inventory in Greenhaven. This means that the average home in Greenhaven will take 17 months to sell. However, the homes that ARE selling are selling in under 90 days with most selling in under 60 days. This tells me that a home MUST be aggressively priced and marketed to even have a chance at selling.

Unfortunately, homes in Greenhaven were built and purchased at the height of the "boom" that the Colorado Springs real estate market had, which means that in order to sell a home in Greenhaven right now, most homeowners are going to break-even at best, and in most cases, homes will be selling for less than they were originally purchased for. (In fact, only 2 homes in the past 18 months have ever broke the $300,000 mark.)

If you are considering selling your Greenhaven home, you may want to consider renting it out for the next few years instead while the local housing economy readjusts itself. If you absolutely MUST sell, then be prepared to bring money to the table.

However, if you are like MANY people in the area right now, you may NEED to sell but cannot afford to bring money to the table, which may qualify you for a short sale. A short sale means that your lender MAY accept a payoff for LESS than you owe for your home. This can be a very viable option for homeowners who are facing foreclosure: They can sell their home instead of having it foreclose. Right now, there are at least 9 homes in some stage of pre-foreclosure in Greenhaven and only 2 of those homes are currently listed for sale. If you are facing foreclosure, or cannot keep up on your mortgage payments, you need to contact a real estate agent IMMEDIATELY who specializes in short sales.

But don't let this "doom and gloom" discourage you. In fact, the current real estate market has created an EXCELLENT opportunity to BUY homes - maybe an investment property? There are some awesome deals throughout Colorado Springs right now ... and the rental market is strong.

Posted By: Mariana Wagner - Wagner iTeam at Keller Williams Realty