12 May The Crazy Market Part 2; Market Cap
Homes are selling at a pace not seen in over twenty years! Today, Deborah Elliott Shultz is joined by Bill McAfee of Empire Title to continue their discussion about what is happening in this crazy Colorado Springs market and why it’s a good thing.
Throughout the country, prices are continuing to increase.
When the recession hit, hedge fund investors would buy up entire blocks of foreclosure homes. They were paying $.06 on the dollar for these properties and turned them into rental properties. Now that the recession is over, they are either holding the properties as rental investments, or selling them at a huge profit.
Another contributing factor to our home sale prices increasing is the influx of out-of-state buyers who sold their homes in places like California. Part of the reason they move here, other than the beauty, is the reduced cost for housing, which means they are able to buy homes with cash.
Some people are expecting the real estate market to crash, soon. Will this crash sometime? Yes. But right now, we’re holding and there aren’t any indicators that it’s about to fall.
In a market like this, there are some things that are important to remember. During today’s discussion, Deborah and Bill discuss how the market is reacting to VA and Conventional home loans, what the best options for the timeframe of buying and selling real estate, does it make sense for you to buy a home, and other details that are important factors to consider in today’s crazy real estate market.
Call Deborah to do a market analysis in order to find out if moving now is a good idea.
For more market information or to contact Empire Title about getting title insurance for your real estate transaction, contact the team at (719)884-5300 or go to www.etcos.com to not only find out about title insurance, but you can also view Bill’s latest youTube video, which might or might not have a car driving off a cliff.
Would you like a free market analysis to find out if now is the time for you to sell? Do you have questions about MiaBella Properties’ $3500 flat listing fee makes your experience more affordable? Are there other real estate questions you would like answered? Call Deborah Elliott Shultz at (719) 641-1357 or visit the website at CityofCS.com and follow the real estate links.
And remember, it’s never too late to become the person you are meant to be.