Explore Colorado Springs Homes

Homes will sell if priced right; foreclosures have impact ~ Obviously, despite what owners feel their house is worth, what matters most is what buyers are willing to pay.  That can be a lot less in areas where the supply of houses for sale is swollen by foreclosures and short sales, often priced 20% to 30% below the ones being sold by financially healthy owners.

Nationally, such properties account for a third of all sales. Furthermore, according to Zillow.com, 30% of the houses for sale nationally were reduced in price last month.  Says Amy Bohutinsky, a spokeswoman for Zillow.com, “For sellers to understand how they should price, they should deeply understand their market and competition — what’s on the market now, not just what’s sold.”