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Monday, July 17, 2017

Strategies for Buying and Selling at the Same Time

Today I have three strategies for you to consider when you’re needing to buy and sell at the same time.

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Today we’re going to talk about selling your home to buy another. In this market, homes are selling faster than ever before. We’re starting to see that sellers are reluctant to list their homes until they have found that perfect new home to move into. There are three strategies to consider when buying and selling at the same time.

The first strategy is to find the replacement home first, buy it and close, and then list the other home once you’ve already moved in. This strategy works well if it works with your finances, and you want to have a stress-free move where you’re not trying to move in a day or two.

The second strategy is to list and sell your home first, and then try and find a replacement property. This means that you’ll start shopping for a new home once yours goes under contract, and then do a simultaneous closing either on the same day or within a couple days, and then do one move. That’s what most people hope to do, and we’ve helped hundreds of buyers and sellers to accomplish this.

Each home buying strategy has its pros and cons.
The third strategy is to list and sell your property first, then close on that home and start looking for a home and move into a temporary place as you search. This involves two moves, but it gives you the time to find that perfect dream home and takes some of the pressure off when selling your home.

Each strategy comes with the pros and cons that we’ve discussed. Again, we’ve helped hundreds of families in navigating this process. If you need help, or you’re looking to buy or sell a home in our area, please reach out and give us a call. We’d be happy to help!

Monday, July 3, 2017

Are We Seeing a Repeat of 2008's Bubble?

There are three main reasons why Colorado Springs is experiencing high demand with much lower supply. But this doesn’t mean we are in a bubble.

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Right now in Colorado Springs, many people believe that we’re in the same bubble situation as we were in 2008.

As you may know, a real estate bubble occurs when there is an imbalance between supply and demand. But is this really the case?

The truth is that today in 2017 our circumstances are actually much different than they were in 2008.

Currently, demand is far outpacing supply. This is primarily because of three things.

First of all, the Denver real estate market is red hot. So because buyers can get a similarly sized home in a similar neighborhood here in Colorado Springs for $100,000 less, they are buying out much of the inventory in the north end of town.

The next contributing factor is that new home construction has been declining since 2008 and hasn’t kept up with the demand.

Prior to 2008, homes were being built at a rate of a million homes per year, but that number has since been cut in half.

Finally, demand is also high because of the large number of first-time homebuyers who are seeking out job opportunities in our area.

In 2017 our circumstances are actually much different than they were in 2008.
As long as interest rates remain low, prices will likely to continue to rise in the next 12 to 18 months around 6% to 7%, meaning we are, in fact, not in a bubble.

Therefore, the next couple of years will look good for the market as long as demand stays strong.

If you have any other questions or would like help with any of your real estate needs, feel free to contact us by giving us a call or sending an email. We look forward to hearing from you soon.

Tuesday, June 20, 2017

Looking for Your Next Favorite Hiking Spot in Town?

Colorado Springs has some great options for hiking, so today I wanted to tell you about some of our favorites.

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Now that we're in the heart of summertime, I wanted to provide a list of some of the best hiking spots here in Colorado Springs.

First, there's Garden of the Gods off 30th St., which has lots of great hiking trails and rock formations to check out. Down in that same region, you've got Red Rock Canyon Park, which has five miles of hiking.

Palmer Park is located centrally in town with five square miles of hiking space. If you're looking for waterfalls, look no further than St. Mary's Falls and Helen Hunt Falls. These two are especially great to check out in the summer.

The Paint Mines make for a great change of scenery.
If you're looking for a challenge, check out the Manitou Incline, which is basically one mile of stairs straight up. We have people come from all over the country to try their hand at the Manitou Incline.

Just east of town, the Paint Mines are a nice change of scenery. It's filled with beautiful orange, yellow, and red rocks.

These are just a few of our favorite spots, so if you're interested in more locations or buying a home here in Colorado Springs, just give us a call or send us an email soon. We'd love to help!