Real Estate Questions Answered Here
by Art Santellen, REALTOR®
Q: The Republicans say the economy will improve by the beginning of next year. So what does that do to your real estate theory?
A: The impact of the state of the national economy on the local real estate market is not nearly as great as the impact of the state of the local economy on the local real estate market. One could justifiably say that a rising stock market would help by increasing the net worth of individuals wishing to buy a home. In only 1% of my clients, are their real estate decisions directly affected by the value of their stocks and bonds. Besides, whether you have a job or not has a more direct effect on that decision.
For example, in the mid-1990's when the national economy was improving, the real estate market in Southern California was in a free-fall. Prior to the hey-day of the computer industry, Southern California was very dependent upon the aerospace industry and military spending. When those industries were slashed in the late 1980's, people lost their jobs then they lost their homes. You will recall that we, in Colorado, were the beneficiaries of having all those Californian's arrive in town with fistful's of money recently received from the sale of their California homes.
The best news for the local real estate market increased sales of computers and related technology. More good news would be the assignment of another Army unit to Fort Carson or perhaps increased space operations for Peterson AFB. Thinking outside of the box, it would be helpful if local political leadership attracted the next economic powerhouse: alternative energy sources and technologies.
Of the above three possible solutions, the first requires crossing your fingers and wishing upon a star. The second requires Republican arm-twisting in Washington (sorry Joel and Ben but I just don't think you can deliver). The last solution, the best long-term solution, is simply an ideological affront to our
Besides, there is not a single national economic indicator which supports
Republican optimism. There is, however, a lot of political smoke and mirrors. Smoke and mirror which will only get more dense as we near the mid-term elections.
So, to my Republican friends who still believe in "voodoo economics , I simply say, "Where's the beef?
Notice: the following is the beginning of a 5-part series on how to sell your home.
In my opinion, there are 5 issues to resolve if you want to sell your home:
Your purpose in selling; Selecting a Realtor; Preparing your home to sell; Setting a price; Marketing your home.
Your reason for selling your home is as individual as, well, as you. You may be selling to buy up. That is, to buy a bigger, newer home. You may be selling down, to buy a smaller home because your kids are all grown up. You may be selling because those stairs in your tri-level home have finally taken their toll of your knees. Perhaps the elysian-like garden on which you've spent so much time (and money) is now a bit more work than you want. You may even be selling because those neighbors of yours have finally gone too far.
There are also very serious financial reasons for selling your home. For example, you're being re-assigned or transferred. You may be getting a divorce, you may have lost your job, your family has significant medical expenses which require the use of the equity in your home. You may even be under the threat of foreclosure.
All of these reasons for selling your home, your reason for selling your home, will color every aspect of your home-selling experience. Everything from setting your price to selecting your Realtor That reminds me, both those issues will be discussed next week, right here in Hispania News.
Next week: the continuation of a 5-part series on how to sell your home.
NOTE: As you can see, I really do get questions from the public. To add your question to this list, please send them to me at the address listed below. Thanks.
The answers to these, and other fascinating real estate questions will be answered here, in Hispania News, next week.
When you're ready to buy or sell a home, see a REALTOR®
Art is a REALTOR® with Heritage Realtors in Colorado Springs.
If you have a real estate question you’d like answered, please send them to:
Art Santellen, care of Hispania News
PO Box 15116
Colorado Springs, CO 80935