Buying a Colorado Springs-area home? Look under those sofa cushions, call that wealthy family member or play the lottery because you re going to need extra cash — lots of it.
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Except for a few afternoon clouds, mainly sunny. High 76F. Winds SSE at 10 to 15 mph..
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Some clouds early will give way to generally clear conditions overnight. Low 51F. SE winds shifting to NNE at 10 to 15 mph. Updated: May 28, 2021 @ 2:54 am
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Lack of affordable and attainable housing options threaten area businesses if their employees can’t find a place to live, Dirk Draper, the Colorado Springs Chamber & EDC’s president and CEO, said Friday during a
housing forum.
When George Nehme, a Realtor in Colorado Springs for 27 years, sits down with clients to discuss the homebuying process, he now has to prepare them for the cityâs wild market. He doesnât sugarcoat it.
There will be multiple offers. Thereâs low inventory and buyers are overbidding by an average of 4 percent beyond list price, which sits at a median of $400,000. Whatever amount the client is approved for, Nehme says he targets properties priced at $25,000 to $30,000 less, giving them a chance to make an offer attractive enough to be the winning bid.
âThey need to understand they may not get it the first time, they may not get it the second or third time,â Nehme said. âWe as Realtors understand that process and we have to educate our clients ahead of time and prep them for what to expect out there.âÂ