There are lots of real estate agents painting gloomy pictures of the real estate market in Colorado and the nation. The truth is that that as of Sept. 15, 07 the Pueblo market is only 400 homes below what sold in 2006. And 2006 was the best home sales year in recent history.
There are more foreclosures because in recent history there was more money to lend than people to borrow. So mortgage companies lowered their lending criteria and many borrowers who shouldn't have been buying in the first place we given loans.
So instead of thinking what a gloomy market we're in, let's look at the glass as half-full! It's a great time to buy in Pueblo!
2 comments:
This is a great time to buy because home prices have not been this low in years!
With home prices down, have building material cost dropped as well? Does it make it a good time to build?
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