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Three Ways Low Inventory Is a Win for Sellers

Three Ways Low Inventory Is a Win for Sellers

Three Ways Low Inventory Is a Win for Sellers | MyKCM

The number of houses for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

When the demand for homes is higher than what’s available for sale, it’s a great time for homeowners to sell their house. Here are three ways low inventory can help you win if you’re ready to make a move this fall.

1. Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently entering into bidding wars for the houses they want to purchase. This buyer competition drives home prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your house when you close the deal.

2. Greater Return on Your Investment

Rising prices mean homes are also gaining value, which drives an increase in the equity you have in your home. In the latest Homeowner Equity Insights ReportCoreLogic explains:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity.”

This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings.

3. Better Terms

When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your house. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell your house at the perfect time. Today’s market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year. If you’re considering selling your house, the best time to do so is now.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move in our local market.

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6 SMART HOME DEVICES FOR LESS THAN $100

Every day, the world presents us with new technology. It seems like there isn’t much left that technology can’t do. Thankfully, with every advancement, many items have become more affordable. While a high-tech home may not be the choice for everyone, there are plenty of budget-friendly options to try out if you are interested in making your home a little bit more accessible. Here are 6 items to try:

  1. Smart Speakers

    Setting reminders, asking questions, and playing music on demand has never been so easy! Smart speakers are capable of making lists for you, looking up recipes, and so much more.

  2. Smart Plugs

    Left the coffee pot plugged in and need to turn it off, but you aren’t home? Smart plugs allow you to turn off (and on) something plugged in from your phone. These are also great for lighting systems like lamps or even holiday lights.

  3. Smart Doorbells

    Smart doorbells are an incredible investment. Monitor who is ringing your doorbell, when packages are dropped off, and so much more all with your phone!

  4. Smart Locks

    Lost keys? Need to let someone in to water your plants while you are out of town? Smart Locks allow you to use your phone to lock and unlock your door, or just use a keypad!

  5. Smart Switches

    Smart switches allow you to turn lights off and on with your phone. Next time you forget to turn off the kitchen light and you are already in bed, smart switches can save the day!

  6. Smart Bulbs

    Adjust the brightness of color in any room when you install smart bulbs. Great for kids or rooms where you want to be able to dim the lights!

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The 9 Most Livable Neighborhoods in Colorado Springs

liveable neighborhoods

Colorado Springs consistently ranks among the most livable cities in all of America. With a great school system, diverse housing, gorgeous natural landscape and plentiful employment opportunities, the area is popular across diverse demographics. There are a number of great neighborhoods in Colorado Springs. Here’s a list of some of our favorites. 

 

  1. Briargate: Located in the city center, Briargate is one of the most popular communities for young families. The area is well-placed near excellent schools, shopping centers, restaurants and a YMCA. The local real estate mainly consists of large homes at competitive prices. The neighborhood is just a short drive of premier employment opportunities. Briargate is also situated near the Air Force Academy, making it popular among military personnel with families.

 

  1. The Broadmoor: Situated in the south part of Colorado Springs, The Broadmoor is one of the city’s safest and wealthiest neighborhoods. Most of the area’s residents are upper-middle-class, white-collar professionals who can afford larger properties. The neighborhood is home to the prestigious Broadmoor Hotel and Resort, known for its tennis courts, golf course and spa. The Broadmoor area features mature trees, manicured lawns, quiet, peaceful streets and an incredibly low crime rate. 

 

  1. Marksheffel: Situated Northeast of the city, Marksheffel has been relatively underdeveloped until recently. With a modern infrastructure now in place, the neighborhood is on the cusp of a growth explosion. It’s a great opportunity for buyers who are looking to grow along with their community; it’s also close to the Colorado Springs Airport.

 

  1. West Colorado Springs: Surrounded by public lands, private clubs and retail and commercial properties, West Colorado Springs offers more affordable real estate compared to other areas. This makes it a nice option for families who want to be surrounded by natural beauty liveable neighborhoods in co springswhile staying close to Colorado College, UCCS and the vibrant downtown area. 

 

  1. Northgate: Located at the northern edge of the city, Northgate sits near the United States Air Force Academy, Pikes Peak Community College and a popular school district. With great educational opportunities and thriving shopping centers, the area is a good neighborhood for families with kids of every age. With quick access to Monument, Briargate and the Black Forest, Northgate also plays host to InterQuest Marketplace, the Bass Pro Shop Center and Colorado Crossing, which features great shopping, distinctive restaurants and movie theaters.

 

  1. Black Forest: The communities in this woodsy area are perfect for parents who want their children to grow up outside amid endless outdoor activities. You can also take advantage of big-city amenities including nearby movie theaters and restaurants while still enjoying a quiet retreat from the fast-paced urban lifestyle. Black Forest is home to Black Forest Regional Park and Fox Run Regional Park. which both provide ample outdoor activities such as biking and hiking.

 

  1. Old North End: If you love history, check out this lovely area north of downtown. The neighborhood is a mix of large, stately properties built in the late 1800s along with several smaller homes built later. There are also a lot of great housing options along neighboring Wood Avenue and The Audubon neighborhood which are all within moments of popular downtown attractions.

 

  1. Flying Horse: This master-planned community offers luxury country club homes from custom builders. Residents enjoy neighborhood shops, local trails, a K-12 academic campus and a beautiful private, 18-hole championship golf course. Flying Horse sits at the northern edge of Colorado Springs and is 50 minutes from Denver. The neighborhood is also well placed near premier employment opportunities in a variety of different industries, including technology, tourism, aerospace and defense, medical, IT, military, manufacturing, sports and education. 

 

  1. Rockrimmon: Composed mostly of small-business owners, white-collar professionals and military families, Rockrimmon is a popular neighborhood for young families. Situated in the Northwest part of town, the area offers easy access to both downtown Colorado Springs and the U.S. Air Force Academy. While it does offer access to numerous modern amenities, the neighborhood also sits amid a gorgeous natural landscape. In fact, it’s not uncommon to spot deer, bighorn sheep and foxes due to the close proximity near several nearby wildlife parks.

 

If you’re planning to buy a home or need help selling your existing property, contact The Wheaton Team. For more than a decade, we’ve specialized in residential real estate in the top neighborhoods throughout Colorado Springs and all of El Paso County. Reach out to our skilled team of professionals and let us help you find the home of your dreams.