When you think of Colorado Springs, most will relate it to the Rocky Mountains. But does the Colorado real estate market relate to opportunity for real estate investors as well?
Investing in Colorado Springs real estate at first glance may not seem to be, as per statistics, as lucrative when comparing Colorado real estate to other states like Florida real estate or California real estate. However, there are people with contrarian views as well.
And believe me, contrarian views do sometimes get huge profits for you, because in such circumstances you will generally face less competition from other real estate investors and you can probably get a Colorado real estate piece for much lesser than it actually is worth.
I am not saying that Colorado Springs real estate has performed badly. Though I don’t remember the exact statistics, but Colorado real estate appreciation was about 5-7% only which is much lower to 25% or so for Florida real estate.
Again, when we say 5-7% appreciation in Colorado real estate, we are talking about the state in general. Of the two major markets in Denver and Colorado Springs, appreciation in 2015 ran 16% and 7% respectively.
Some of the smaller cities and rural areas are posting double digit positive and negative appreciation numbers. This depends on the demographics of the community. The opportunity is always there. The only thing you need is the art of finding the Golden deal in this Colorado real estate market.
When assessing Colorado Springs real estate you must take into consideration various factors e.g. you must assess the overall economic indicators and check what effect it can have on Colorado real estate (both in the near term and in the longer term).
You don’t need to be a financial analyst or a real estate guru for doing this assessment, you just need to keep track of various news items and analysis reports on Colorado real estate. Also keep track of the mortgage rates and laws on tax breaks (as applicable to Colorado real estate).
All these factors influence the trend of real estate anywhere (not in just Colorado Springs). Moreover, you will need to hunt for Colorado Springs real estate opportunities by going to public auctions, foreclosures, teaming up with attorneys for information etc. Again, remember that not-so-good news about any real estate (be it Colorado real estate or Florida real estate), doesn’t mean that real estate investment won’t make sense at that place; in fact, it might cut down the number of competitors you have.
So, if you feel that Colorado Colorado Springs real estate doesn’t present opportunity, there are always plenty of opportunities in Colorado Springs real estate.