Weekly Market Update for September 27, 2020

Here is what’s happening for Real Estate in Colorado Springs for the week ending on September 27, 2020!

Homes go to closing:


Homes under contract:


The market is still strong in Colorado Springs!  Yes, there is some slowing, and that is to be expected, but in spite of the slowing, there is still a lot of activity and that is great news.What does it mean if a Realtor tells you “if it doesn’t sell, I’ll buy it?”
Pay attention to the contract before you sign.  What this means is, if you list your home for $450,00 and it doesn’t sell in the time allotted, say 180 days, then they will buy it.  Not at the list price, mind you, but at a much lower price.  Their goal is to make money, so they are going to come in real low, and then turn around and sell themselves and make the money that should be in your pocket.  Maybe this is what you want, but you need to be aware of what you may be giving up.  Make sure you know what your bottom dollar is and if the Realtor will be willing to pay for it. What about when a Realtor claims they can sell your home because they have thousands of buyers on hand waiting?
What this really means is. that although they personally do not have thousands of buyers lined up, they do, however, belong to an association with other Realtors and agents that possibly have buyers looking and may be looking for a home like yours.  They will reach out to their association and see if there are any takers, but a Realtor must list the house on MLS and will do the marketing.  If there are buyers ready to purchase, the listing may only be active for a couple of hours before going under contract, but that just isn’t how it typically goes. So, what should you do when choosing a Realtor?
First, I recommend to always ask for references.  Ask the Realtor or agent to let you talk with a home-owner who had these experiences they claim to be able to provide you.
Then, dig deep!  Ask the hard questions.  Ask them to provide proof to back up their claims.  Ask them for numbers and details.  It is your right to know and knowledge is power that may protect you.  Don’t take what is being told you for face value.  If it sounds too good to be true, let them explain it to you what they really mean and how it really works.

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