2016 is shaping up to be one of the best years in real estate in many years… probably at least 10. We’ve all seen the stats about new Colorado residents. Inventory is extremely low, and building permits are way up.
The market in Denver was “madness” in 2015, with multiple offers taking prices $20-40,000 (or more) over list. Some of these transactions turned into mini-auctions. Good for sellers?…sure, maybe! Tough for Buyers?… yep! As agents, I think it’s difficult to be on either side of a competing offer situation, so we present ALL offers and help our clients make what hopes to be the best decision.
This busy-ness however gives the public a bit of a skewed perspective on how “easy” the real estate market is. I’ve heard 3 times in the past week from clients, friends, acquaintances that they are thinking about getting into the real estate business… whether they want to get licensed, invest, or otherwise jump in. Excuse me for being a little bit callous, but even the “easy ones” aren’t easy! We have put many properties under contract in days, but the work and negotiations, don’t stop there. We help the clients then negotiate inspections, meth, radon, lead-based paint, appraisals, unexpected property damage, septic and well “issues”, lender qualification challenges, title challenges… and so much more.
At Springs Homes, we have years of experience in handling these issues and work together to protect our clients’ interests, while helping all parties make it to the closing table. Negotiations start before listing the property and sometimes go beyond closing. It’s much more service than it is sales.
To the aspiring real estate agent, please talk to somebody who’s been in it for years… preferably through some of the “hard” years (2006-2009). Expect to live off your savings for 6+ months without a closing. Sometimes you work 4 hours a day, sometimes 36 hours a day (I know, I’m kidding, but it feels like it sometimes). And this is 7 days a week. Especially in a market like this; a property hits the market under $300,000 and you better be in same day to have your offer considered. Expect to shell out money to become a member of your board, national / state / local association, photos, marketing material, web pages, gas, vehicle service, continuing education, insurance, office fees, etc, etc…
What looks like a cake-walk takes years of working, learning, and growing to succeed. We are so thankful to the people of Colorado Springs and in our “circles” for supporting us year after year. We are so thankful to be successfully doing business in this community for decades!!!