Enjoy this Colorado Springs Real Estate Housing Update & Forth Quarter Forecast w/ Special Guest Bill McAfee of Empire Title. Bill and Cherise provide valuable takeaways for both Buyers and Sellers in this time of the Colorado Springs market. Enjoy learning from one of the most outstanding economic forecasters in the local industry, while some light-hearted humor brings a lighter perspective to this changing market. Listen and learn from Bill’s advice to see how you can make the most of this last quarter of 2022!

We recap August Stats and discuss if the sky is falling and how in every kind of market there are deals. Overall, Colorado Springs is still one of the best locations to be in and competition for buyers is nothing like it was. Bill offers the advice to keep your payment about 25% of your Adjusted Gross Income.

Forecasting for 2022, rates will most likely continue to increase, including the recent increase to 6.8%, which is the biggest increase seen since around 2008. Every year we see people going to the sidelines in October as they wait to see what happens in the Election, so Bill predicts the year to not end strong. But as a buyer, he says prices will continue to ease, so it is one of the best times to purchase a home. Sellers that chase the market get hurt.

From a Title Company’s perspective, Bill mentions you must read the Title work for boundary line and easement discrepancies, HOAs bylaws and other things you may not realize. Bill tells a cautionary tale about illegally divided subdivisions and permits.

Podcast Highlights

00:00 – Introducing Bill McAfee, President of Empire Title
1:03 – August Stats for El Paso County
2:03 – Is the Sky Falling in Colorado Springs?
2:38 – Should You Wait until the Market Crashes to Buy a Home?
2:49 – Bill’s Investment Purchase Experience Before 2019
3:15 – Bill’s Investment Purchase Experience Since CoVid
3:43 – Over-rational Exuberance
3:55 – Colorado Springs is Still One of the Best Markets to Be In
4:08 – Colorado Springs Builders Will Not Catch Up to the Deficient in Housing
4:46 – This is Why It Is Time to Get Back in the Market
5:55 – The Change in a Buyer’s Purchasing Power
6:30 – The Income You Need to Buy a Home in Colorado Springs
7:24 – Real Estate Economic Forth Quarter Forecast for 2022
9:12 – It’s a Good Opportunity to Buy in these Next Months
10:25 – 2022 Year-End Prediction For Real Estate Appreciation
10:55 – Sellers that Chase the Market Get Hurt
12:06 – Sellers, Be Aware that Buyer Concessions Have Come Back
13:11 – Potential Unexpected Title Issues You Should Be Aware of
16:30 – An Important Insurance Rider Policy
17:37 – Buyer Beware And Read Your Title & HOA Documents
18:12 – Bill’s Closing Remarks

Cherise Selley and the Group talk about what it takes for buyers and sellers to succeed in a complicated real estate market both in Colorado Springs, and in other locations across the country. Subscribe and hit the notification bell for updates on weekly episodes where we discuss what it really takes to succeed in real estate!

Although we’re based in Colorado, selling Colorado Springs Home for Sale, our experience can benefit buyers and sellers, and real estate professionals nationwide.

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