Continuing from Part 1 of Everything You Need to Know Before Buying a Home in the Sizzling Colorado Springs Market, here are three more tips for buyers who are looking for property in the Pikes Peak region:
3. Pay Attention to Prices and the Number of Days a Home Has Been on the Market
List prices are established and there is a “right” price for every home. If a home backs up to a busy road, has a functionality problem with the floor plan, or needs major updating, the price should so reflect. Depending on the price range you’re looking at, say under $300,000, homes that have been on the market for more than 45-60 days are likely overpriced.
4. A Mortgage is a Serious Matter
Finding a lender and learning about mortgages should be step #1 for a buyer. After you select a real estate agent, ask them for their recommendations of good local mortgage lenders in Colorado Springs and get prequalified. Sit down with your lender and learn about your monthly payments, and how rising interest rates can affect you. By doing this, you are building your team of professionals who not only work for you but work together with one common goal: getting you to the closing table with the least number of problems.
5. Real Estate Agents Are Friends, Not Enemies
We get it—we live in a sales-y world. Everyone is trying to sell you something and marketing ads are in every which direction, but please listen to us when we say: we are your friend. As experienced real estate agents in the Pikes Peak region, we have your best interest in mind and are here to walk you through the very serious, exciting, and wonderful journey of buying a home. Please ask us questions. Please give us feedback. Please trust us when we share our expertise.
Also, it is completely normal and expected to interview your real estate agent. A really good real estate agent should never try to “sell” you on a home, rather he or she will ask you what you want in a home and then help you find it. Find an agent who listens well and who takes the time to teach you about the process so you’re not in the dark. You want someone you feel comfortable talking with and who is reachable. Ultimately, you want an agent who has your best interest in mind and acts as your friend, not a salesperson.
If you ever have any questions about buying a property in Colorado Springs or are ready to begin searching for a home, call one of our experienced agents at Woodleaf Realty – we are here to help!