Declining home values are another issue that may present a financing roadblock for buying a home in Colorado Springs.  Even when you have found a mortgage company who is willing to finance your purchase, your approval could be pulled if the home appraises at less than your purchase price. Be careful of this, because you could potentially lose your deposit, or “earnest money."

The good news, however, is that we are headed into the busiest selling season of the year and the Colorado Springs housing market it poised to continue moving in the right direction.  It may be too late to sell your home before the federal tax credit expires, but homes in Colorado Springs are expected to continue moving well into the summer months.  In March 2010, the total number of homes sold in El Paso County was 651, according to the Pikes Peak Association of Realtors. More than half of these homes were priced under $200,000, and 82% were under $300,000.

Thanks to a healthier economy and the relative stability of the Colorado Springs housing market, spring and summer will be an excellent time to buy a home in Colorado Springs.