Recently, I’ve had a few clients contact me that they are waiting for the “Economy” to improve or stabilize before considering real estate in Estes Park.

Here are my thoughts about buying property in the Estes Park area in the next couple of months.

1. Prices are only going to go up. Estes Park has a strong history of price appreciation without drastic and erratic price jumps over the past 20 years. If you wait along with the masses for the “economy to improve” before jumping into the real estate market, you will be behind the curve. As a result you will have lost out on what could be substantial increases in value over the next year or two. Smart investors don’t follow the crowd, they find out where the crowd is going and get there first.

2. While the national and state-wide media has been all doom and gloom for real estate over the last several months, Estes Park real estate market is still relatively very strong. The median price of homes are staying relatively flat over the last couple of years and Condos have been on a steady incline in median price. Check out my local stats page for the stats. Also, we’ve seen a recent trend of new listings being snatched up right away if they are priced right. Having buyers on the sidelines waiting for well-priced listings to come on the market is a great indicating factor of a strong market.

3. Rates are still low. I just received an update from a mortgage broker that rates are around 6% on a 30 year fixed for qualified buyers. Buyers who have 10% to 20% down and have excellent credit are in a perfect position to capitalize on some “cheap” money.

4. Estes Park has a long history of being one of the premier vacation destinations in the United States. People have been coming here for years as Tourists and eventually become so attached to the area that they buy property. Our mountains aren’t going anywere and therefore, neither is our tourism base. It is this cycle of strong tourism and repeat visitors that will keep demand for real estate high even if the national real estate market is lower than average.

5. There are plenty of “good deals” on the market today waiting for a smart buyer to come and purchase. There are also “great deals” that come up from time to time that get snatched up in a hurry. Some of these homes are the result of the Sub-prime mortgage market fallout, however, Estes Park was not and is not being affected nearly as bad as some other areas in Colorado and the rest of the nation.  I am in a position to provide you access to those “good” and “great” deals when they do come available.  In my humble opinion, just about any property that is priced well is a deal in the long run.

Whether you are looking for a full time residence, part time residence, vacation home, or investment rental property, I am confident that now is a great time to buy in Estes Park.

There will be equity created and money made during this market. Why not put some of it in your own pocket?

Please let me know if you have any thoughts or comments.