New homes for sale in Colorado Springs have slowed down since the boom of the last few years. The biggest change that we have seen in the new home market is the drop in ˜inventory homes - meaning: if you want to buy a new home, you will need to ˜dirt start it. Building homes before they are purchased is too big of a risk for Colorado Springs home builders.

Here is a look at some of the busiest builders in El Paso County - to include the Colorado Springs, Monument, Falcon/Peyton and Fountain real estate markets, and how many building permits were pulled from January - April of 2008:

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The Colorado Springs real estate market saw a bit of a jump in activity from March 2008 - April 2008.

New Listings: 830 homes for sale

• Average List Price: $ 302,2512

  • Lowest Average List Price: Southeast Colorado Springs (S/E): $178,688
  • Highest Average List Price: Tri-Lakes/Monument (TRI): $466,161

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Pending Sales: 293 homes went under contract in April 2008

Sold Homes: 182

Average SOLD Price: $264,685
Average SOLD Price in March 2008: $257,152
The Southwest (S/W) area of the Colorado Springs real estate market and the Falcon (FAL) area were the closest to the average sold price.

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Would you like to know how to take advantage of struggling Colorado Springs real estate agents? As a home Seller, it is much easier than you may think.

In March of 2008, there were only 195 sales in the Colorado Springs real estate market. This means that less than 390 real estate agents in Colorado Springs got a paycheck in March of 2008. (I say ‘less than’ because some real estate transactions only have one real estate agent involved. For example: The Wagner iTeam ‘brought the Buyer’ to 2 of their own listings in March, and there was not a Buyer Agent on the other side of the deal.)

And with over 3,000 active licensed Colorado Springs real estate agents in the Pikes Peak - Colorado Springs area, this means that less than 20% of the agents got paid last month.

OUCH.

When you list your home with the Wagner iTeam, we will often recommend that you offer the Buyer Agent (the agent who represents the Buyer who purchases your home for sale) a higher co-op commission.

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When we list a home for sale in the Colorado Springs real estate market, one of the most important things that we do is make sure that we price it effectively.

Read Also: Colorado Springs Real Estate Answers: Why Didn’t My House Sell? Part One: Price and
Selling Your Colorado Springs Home: The Importance of Proper Pricing from Day One

Part of pricing a home for sale effectively is the exact price of the home. Many people do not understand how important the exact price of a home really is.

For example, if we were going to list a home that would sell for between $298,000 and $303,000, we would list it for exactly $300,000.

Some agents would list that same home for $299,900 for the same reasons that gum is sold for $0.99 instead of a dollar. Psychologically, the home priced at $299,900 may seem cheaper than the one priced at $300,000 … even though it is just a difference of $100, and could be totally negotiated in the offer.

However, in the Colorado Springs real estate market, this pricing strategy could actually do more harm than good.

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How much time does a home seller in Colorado Spings need before an agent can show their home? In the Colorado Springs real estate market, the average advance notice that a home seller needs to show a home is about 1-2 hours. This allows the Seller enough time to straighten up a bit, or maybe remove dogs from the home so that it shows nicely.

When we list a home for sale in Colorado Springs, we talk to our Sellers about how much advanced notice they need before an agent shows their home. Here is a breakdown of the different scenarios that we hear most often:

• No Notice Needed: The most common type of property that does not require any notice would be a vacant or unoccupied property.
• 1 Hour Notice: This gives the home owner enough time to prepare the home for a showing. This is the most common notice asked for in Colorado Springs.
• 2 Hour Notice: This allows the Colorado Springs home owner enough time to get home, maybe from their job, to maybe remove a pet from the home, or prepare the home for showing.
• 12 Hour Notice: This notice is usually asked for when a home seller cannot take time off of work to prepare for a showing. This allows them enough time to prepare for the showing before they leave for work in the morning.
• 24 Hour Notice: This notice is mainly used for renters. If a home seller has a renter living in the home, the renter has the right to request at least 24 hours notice before showing. This notice is also common for Colorado Springs home sellers who have a home-based business that they will need to work around for showings.

Occassionally, the showing instructions in the Colorado Springs MLS will also come with a "must confirm" which just means that the Seller needs to actually speak with the listing company's showing desk before an agent can show the home. Just leaving a message for the Seller is not good enough. Usually, a confirmation only takes a few minutes and then the showing desk will call the showing agent back to confirm the showing.

If you a re a home seller, your Colorado Springs Realtor® should find out what the best showing notice YOU need for your current situation. Just remember: the easier you make it to show, the more showings you will have, and the more likely you will be to get an offer.

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