What Is Your Colorado Springs Home Worth?

Selling your Colorado Springs home? Get a home value report  

Buying a Colorado Springs Home? Click here for full MLS access 

A lot of people in Colorado Springs have been selling their homes for great prices. When neighbors see a home across the street sell for a lot more money than they expected, this makes them wonder how much their own home might be worth.

So, what do people do to find their home's value? Unfortunately they go online and look at Zillow. I think that Zillow is a wonderful aggregate of a lot of real estate information, but you shouldn't trust what they tell you about your home's value.

Zillow uses old tax assessor records and other inaccurate and arbitrary records to gauge the value of your home. They don't know about the upgrades you've made or the repairs that you've done. Zillow is notoriously inaccurate when it comes to putting a price on your home.

If you want to pinpoint the value of your home, then you need to speak with a real estate agent such as myself. I can take real market data to give you an accurate estimate of your home's value.

I will physically assess your home for free if you contact me. Please don't hesitate to reach out!

Why Aren’t Millennials Buying Homes More Frequently?

Selling your Colorado Springs home? Get a home value report  

Buying a Colorado Springs Home? Click here for full MLS access 

One thing we know for certain about the real estate market is that it is never going to stay the same for long. Today we want to talk about an interesting trend we’ve noticed in real estate: millennials are waiting longer to purchase their first homes than their parents did.

The typical first-time buyer now rents for an average of 6 years before buying a home, which is up from 2.6 years in the early 1970’s, according to Zillow.

We came across this great video from CNBC. I will give you my three biggest takeaways from the article.

1. Down payments are a huge factor

Renters in today’s market are struggling to save for down payments and qualify for mortgages. Most first-time buyers still depend on personal savings for at least some of their down payments, but rising rental prices have complicated the task of socking away money for a down payment.

2. Rising rental rates are complicating things as well

Rental rates are causing 46% of renters aged 25-34, to spend more than 40% of their incomes on rent, up from 30% a decade earlier.

3. Job security is important to millennial buyers

The Money Source, a mortgage lender, examined applications from 5,404 millennial buyers and found that these buyers averaged nearly 4.5 years in their field of work and had held their current job for slightly more than three years. Those figures point to how critical career stability is to a younger generation.