What is selling in Colorado Springs?

With out a doubt, the homes that are selling are the ones that first time home buyers can qualify to purchase.  We are seeing homes priced in the $250,000 and below range that are in good condition and have good value are going under contract quickly.  We recently listed a very nice home in Academy District 20 in Rockrimmon, priced at $225,000 and it was under contract with the second showing.  I didn't event finish my marketing on the property.  With all these homes being sold to first time home buyers, you have to wonder where the sellers are going.  We saw a drop in average sales for the month of September (see http://www.ourdistrict20homes.com/COS_Market_Update/page_2115060.html ) which I believe will continue for the months of October and November until the $8000 tax credit expires.  Then we will start to see an increase in the average sales price for the next wave, though the number of home sales will probably decline.  The big question is, what will Congress approve as a follow-on to the current tax credit?  If they really want to stimulate the economy, they need a tax credit for all buyers like they originally planned last year.

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