A little snapshot of our Real Estate market in Colorado Springs proves that you should be buying soon or you will miss out on the good deals.
Our Colorado Springs market is very interesting right now. It is becoming harder and harder to find a good deal, yet we are in a down market. Homes are being scarfed up by buyers who are capitalizing on the bank owned properties while regular sellers are sitting around scratching their heads wondering where the buyers are.
Since our market has only grown at a modest level in the past 10 years, normal home prices have not collapsed like the national media likes us to believe. Believe me, I am out there every day placing offers to normal sellers that are rejected because the buyer offered $20,000-$60,000 below asking price. That is a direct result of the national news doom and gloom coverage. While the normal home sellers are holding out in their pricing, the banks are unloading foreclosures at astounding prices. But, the choice of "good deal" properties is slowing down. One factor causing the slow down in foreclosures are the new strategies in which the banks are re-negotiating interest rates and late payments with troubled borrowers so that they can keep their homes. This is a fantastic thing, however, the speculative buyer or investor who is waiting for a good deal, may be left behind once the market has unloaded enough foreclosures so that the regular sellers will start selling again at respectable levels. This will create more competition in the market, thus, driving up our home inflation again.
I see it happening folks, the writing is on the wall. Many of you whom are working with me know that we have negotiated multiple offers only to be beat out be someone who bid much more.
With the recent Government take over of Fannie Mae and Freddie Mac (corporations in which purchase bulk loan packages from lenders) we saw interest rates drop from the mid 6's to the mid 5's. I just helped a couple yesterday make an offer and their loan interest rate was 5.5%. How can you beat that? I am sure that this will be short term as always.
I believe that the best time to buy is "TODAY", not next spring. There has never been a better time to purchase than now. Take it from me, a professional investor who has purchased homes for low prices at high interest rates and at high prices at low interest rates. It is not very often that I have been able to buy low at low interest rates. Now, after the collapse of subprime, I cannot buy anything since they have capped investors to 8 loans only. This is even better for you.
Please contact me if you would like to take advantage of our Colorado Springs market. If you need to sell, I can help find a buyer who will pay a price acceptable to you. Then you can purchase another home at a lower price with a low interest rate.
Rob Reinmuth - 719-229-6945
Acquire Properties
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