Colorado Springs Real Estate News - Colorado Springs CO Real Estate
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Ah, the optimistic market outlook is not just a Colorado Springs New Homes Real Estate thing! An article in Friday’s Gazette tells of three local real estate experts who share optimistic outlooks for 2008. While all the experts’ thoughts are worth reading, the only one pertinent to us is Brian Maecker of Re/Max Advantage, who discussed the residential real estate outlook. “Problems in the singlefamily housing market have been exaggerated by the news media,” he said. Somehow I already had a hunch this was so… Among Brian’s other points:
- 2007’s foreclosure rate is not the worst on record, as “the late 1980s were worse because there were a similar number of foreclosures spread over a smaller population”
- “Home sales were down in 2007, but only if compared with records set in recent years”
- There will be around 3,000 foreclosures and 9,000 sales in 2008
Brian also predicted fewer new homes and more investors will “boost demand, shrink inventory and keep prices stable.” And if a similar pattern is repeated in 2009, we will likely see a significant local market turnaround within the next two years!
Meanwhile, Mike Anderson, Colorado Springs’ assistant city manager and an economist, was a bit less optimistic in presenting his forecast for the local economy. Mike presented the facts in saying there is an increased risk of recession nationally, but he also said “Department of Defense spending at local military installations, along with the presence of defense contractors, will help cushion [the Colorado Springs new homes area] against a national downturn.”
Brian Wilson, Colorado Springs New Homes Real Estate
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