Academy School District 20 Colorado Springs Homes - Best Time to Shop
When Is The Best Time To Shop
For A New Home In Colorado Springs?
When your current home is already under contract or at least competitively priced and heavily marketed and receiving frequent showings.
We love hosting open houses for our sellers on beautiful days in Colorado Springs. In addition to getting feedback for them, we meet many potential buyers and learn more about how and why people look for homes.
A recent listing held open by us in Pinecreek of Colorado Springs, brought in 14 visitors (individuals and/or couples). Of these visitors, 11 had properties they would need to sell before they could buy another property. Only one already had an offer on their home, so they knew what they had available to spend, and would not have to get a seller to accept a contingency offer.
This is pretty common and it continues to amaze us. Why would someone shop for a new home in Colorado Springs when they don't know what they can afford to buy?
One of our recent visitors was a primary example of why looking before selling is a bad idea in most cases. They started looking for properties in August 2008 and at the first open house they visited, the wife fell in love with the house and, as she puts it, “I told my husband; I have to have it.” They made an offer contingent on selling their current home, but the sellers accepted another, no-contingency offer and the couple lost the wife’s “dream home.”
On the day this potential buyer walked through our open house, she still had not put her house on the market. In effect, she was once again, running the risk that she’d fall in love with a home and the seller would be willing to wait until her property sold to conclude the deal.
We continually tell our Colorado Springs home buyers to make their offers as “clean” as possible; that means with no contingencies and with the fewest exceptions as possible. If you’re really just looking and have no fears of finding your dream home when you are not in a position to buy, shopping can be fun. We feel strongly that if you are serious about finding your next home, your current home should be competitively priced and actively marketed, so you’re being fair to both yourself and to the owners of the properties you’re touring.
By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs