Despite its picture-postcard beauty, Colorado Springs has reversed its recent sellers' market. As more homes are entering the marketplace, prices are coming down, offering bargains to buyers in many price ranges.

"Incredibly low interest rates are bringing out the first-time and move-up buyers," says Realtor Rick Van Wieren, "but local layoffs at WorldCom and related businesses have also boosted inventory. New "spec" homes are available from many builders. Well-priced homes continue to sell well, but upper price ranges are tending to hang around for a while."

Like other Realtors who see how quickly a popular market can turn, Van Wieren adds, "It's a great time to buy!"

Agrees Realtor Roberta K. Stein, "We are seeing record low interest rates keeping the buyers' out looking with a higher inventory - creating a buyer's market. Buyer's have many more homes to choose from at this time and for the most part, have "time" to think over their purchase.

"Last spring," she explains, "we saw homes flying off the market, with multiple offers. One had to really put their running shoes on if they expected to get the home, plus put in their best offer! Currently, we are seeing more negotiation between the buyer and seller -- due mostly to lower demand and higher inventory.

"In general, homes priced below $200K (and priced right) have not seen as big of a hit with our change in the economy. If priced right, for the most part, these homes have been moving still within 30-60 days. It is the higher-priced homes that will take longer to sell and with less activity."

Realtor Vicki French says, "Due to the continuing low interest rates we are seeing plenty of buying activity in the under $250,000 price range. There is a significant inventory on the market in this price point so the best properties that are priced right are moving very quickly and the rest are taking 60 days or longer to sell.

She adds, "In the over $300,000 price range there are limited buyers due to continuing concern about layoffs in the technology sectors. This part of the market is already a buyers market. There are many sellers that have not accepted this fact and are holding onto the outdated pricing of a year ago and not finding buyers for their properties. The sellers in this higher price range will need to price their properties aggressively if they intend to sell in the next 30-90 days and they will need to have them in good showing condition. There are excellent buying opportunities now and for motivated sellers, homes are still moving in all price ranges, although much slower at the higher prices."

Many Realtors believe that Colorado Springs diverse job market will bring buyers back.

"The Colorado Springs community is a blend of military, technology and service industries," says Realtor Jorgette Krsulic. "This provides a steady and constant turnover of potential buyers and sellers. Our average sales price is about $185,000.

"The Colorado Springs housing market offers both buyers and sellers an excellent opportunity to take advantage of our growth and steady appreciation," says Krsulic.

Published: August 22, 2002

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.