Written by Action Team Staff Saturday, 04 February 2012 15:09
It seems like whenever there is good news to be found about the housing market, Colorado Springs is listed among the best places to buy. In mid-2010, The Street for MSN published an article that named the Pikes Peak region as one of the best places to buy investment homes for sale, as well as property. In Colorado Springs, as well as in many other cities, would-be real estate investors have been sitting on the sidelines for too long. They’ve been waiting for home prices to hit rock bottom, or waiting for economic news to change. All the while, other buyers have been snatching up investment homes and earning money from rental property.While Colorado Springs hasn’t completely missed out on the housing crisis, its relative economic stability has fueled a faster recovery in residential real estate. One of the main contributors to its healthy economy is the strong military presence throughout the region. The constant ebb and flow of military personnel at Fort Carson, Schriever Air Force Base and the Air Force Academy means there is always someone looking for a home or an apartment. When buyers entered the market again, they felt safer shopping for investment properties for sale and finding renters.
Renters in Colorado Springs have had a hard time finding vacancies in Colorado Springs, which gives investors hope that they will earn quick cash from investment property. As rents continue to rise and inventory shrinks, more buyers will be shopping the investment homes for sale. In addition, many sellers have chosen to hold onto their homes in Colorado Springs and convert them to investment properties. Doing this allows them to make money from a property while waiting for the right time to sell.
For buyers who are concerned about buying any real estate, they can feel confident in the stabilitiy of the Colorado Springs housing market. The average home price in Colorado Springs rose slightly in 2010 after staying relatively stable in 2009 throughout a 0.3% decline. Fortunately, the drop in median housing prices from $205,500 in 2008 to $184,300 did not become a trend; rather, it fluctuated from $189,800 in 2009 to $195,500 last year and as high as $201,000 by the fall of 2010.
Is now the time to jump in and look at investment homes for sale and property in Colorado Springs? Experts agree that it’s a perfect time to buy in this swiftly recovering market.
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