4 Reasons Our Market Is on Fire Right Now

Monday, June 15, 2015

4 Reasons Our Market Is on Fire Right Now

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Many people have asked why homes are selling so fast in the Colorado Springs area. Today, I will explain why our market is so hot and what current conditions mean for you!

If you or someone you know is looking for a home in our current market, you've probably experienced the frustrating process of finding a home and writing an offer, only to find out that multiple offers have been made on the property. Why is this happening? I think we're seeing competitive conditions for 4 reasons:

Interest rates are around 3%: Rates are likely going to go up by the end of the year by as much as a full percentage point. Every time rates rise by a point, you lose 10% of your purchasing power, so low rates are a huge motivator.
Water cooler confidence level: A few years ago, there was a lot of talk about short sales and foreclosures. The atmosphere has completely changed. Now, people are talking about how much they're saving by buying instead of renting.
High rent prices: Many people in Colorado Springs are spending $1,500 a month for a three-bedroom apartment. That may not be a lot for an apartment in San Diego, but here it's pretty pricey! There just aren't many units available in Colorado Springs.
Low inventory of homes: It's nearly summer and we still can't get more than 3,000 homes on the market. Around 5-7 years ago, we had almost 7,000 homes on the market! There are many bidding wars out there for the best properties, which is great news for sellers, and bad news for buyers.

As you can see, there are many reasons our market is so hot right now. If you're a homeowner who wants to take advantage of these fantastic conditions, or if you're a buyer who would like help finding a good deal in this tough market, give me a call or shoot me an email. I would love to hear from you!

Why Work with Us

I moved to Colorado Springs in 1992 as a member of the US Army. I fell in love with the area and never left. I will listen to your needs and want to establish our goals and objectives. We work as a team to meet the goals and you will continually be in the loop during the entire process. In this fast paced market, I believe communication is key in meeting our goals and building our relationship. Because I have been here for 18 years in 3 different careers, my experience will make your move as smooth as possible.

Jeff Ryder
Keller Williams Real Estate
1257 Lake Plaza Drive, Suite 200 Colorado Springs, CO 80906 JeffRyder@kw.com

Testimonials

Click to hear recent
testimonials from happy clients

Beth - "I moved to Colorado in the middle of September. We decided to bring my son in law down there to make sure he wanted to live there. We looked around and saw his name on a house. We called about it and we moved in like a month later. He is great, he was always friendly and calls often to see how we are doing. He always sends stuff in the mail for free dinners and stuff like that. He is the best. He is so sweet and kind, and he tells you the truth. That is the main thing I like."

Diane - "We both bought and sold a home with Jeff Ryder. When I first contacted him, he made an appointment right away and came over. He was able to sell my house in a week and half! The buyers wanted to move in right away so I told Jeff what I was looking for and he showed me a condo that I liked and ended up buying. I was anxious to make a full price offer on it, but he suggested that we wait until he was able to get comps from the neighborhood. He put in an offer that was less than what I was willing to pay for it which showed a lot of integrity on his part because his commission could have been more."

Kristin - "He had reached out and our house was under contract and that contract expired before it sold. He had reached out, I was happy with the terms of the contract, and felt confident going forward with him. Also, he was successful in selling it. His assistant was excellent, took care of all the different aspects, closing, they were very responsive and easy to work with for sure. As a team they were great! He is responsive, trustworthy, knows how to showcase a house in the right way and also very effective."

The Marchs - "We discussed pricing and marketing conditions and then Jeff came up with a sell-able price which we were happy with. We sold it in 6 weeks and before we had it with Jeff, it was on the market for 2 years so he did really well! We was particularly impressed with his team and we saw Jeff in every aspect of the transaction. It just speaks to his good management skills!"