Gloomy Market or time to buy?

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!

Welcome

Welcome to our new blog. We think it's important to share your building experiences with others. Your favorite tip would be appriciated. What did you wish you had done? A little constructive criticism never hurts, but lets not make this blog a "builder bashing" session.

Builders: What makes a good builder? What makes a bad builder? What should the public look for when choosing their builder? We appriciate your help.

Local vs Newbe

Pueblo has recently seen a increase in builders coming from outside the area. Is this a good thing for the industry? A little competition is always good for the consumer, right? Well good for the consumer may not be so good for the community. Recently a builder moved into Pueblo West and started undercutting the competition. They have really hurt some of the local guys who have been in business for years. But they build a nice house with exceptional value. When the market slows and national companies move on to the next market where does it leave Pueblo’s work force and the builders they hurt along the way. Should we as potential customers take this into consideration?

Lots and Land

Did you know that builders often have a large inventory of available lots? Typically they don’t advertise these as “for sale” with much more than a sign on the property. They are not in the local MLS system so your real estate agent may not even be aware of them. Pueblo builders are smart when it comes to choosing land, they buy up great lots with awesome views and will save them for their clients. They test the soil for shale and drainage also.

Do you know if your builder is financially secure? Do you care?

Do you know if your builder is financially secure? Do you care? I think you should and here’s why:

In these struggling times, I have been personally seen a number of builders who ignore my invoices. I have customers web-sites and domain names that are permanently removed from my server for failure to pay a $15.00 invoice.

After speaking with other contractors in the area, I was informed that a certain builder had no fewer than 5 leans on a home he recently finished. What does that do the buyer when it comes time to close on the home? Now this builder is using a different name and still building in Pueblo West.

I suggest you look up your builder’s homes with the Pueblo Trustees’ office to see if it’s in foreclosure first. http://www.pueblopt.com . I can tell you that there are a good number of builders home on this list.

I honestly feel bad for most of these guys. They are usually honest, hard working builders trying to stay in business. But it is the select few that don’t pay the contractors that help build their homes in the first place. They should be ashamed of themselves. If my builder clients were to just call and ask for a extension or even a free year of web-site hosting, I would not only understand, but gladly help.

Jeff Miller
J~PIX Media Solutions
719-428-5749
jeff@jpixmedia.com
http:www.jpixmedia.com