By LC Real Estate
Real Estate exemplifies the American dream. There are dreamers buying and selling Real Estate in Colorado every day. There is no question that Northern Colorado has been enjoying a great Real Estate market. Several years into the current Real Estate cycle Developers are still buying land, Sellers are still selling, Builders are still building and Lenders are still loaning money at historically low interest rates. Does everyone “win” and realize the enchantment of Real Estate success in a market like the one Northern Colorado is currently experiencing?
We asked several local Real Estate professionals about their experience and what we discovered was the good and bad in a great market. What are the highlights and benefits of buying and selling Real Estate in this market? What potential challenges are the Real Estate industry in Colorado currently facing? For example, we have found that while there are many home owners enjoying increased wealth due to the rising home prices, there is a family or first time homebuyer struggling to find affordable housing. While the Builders continue to build at a furious pace in Colorado to keep up with the strong demand and the lack of inventory, there is also an equally great demand placed upon our workforce. The Builders continue to rely on their relationships with vendors and other companies to ensure the workforce is on site and on schedule for completing homes and community development in a timely manner. The Lenders are still financing at low interest rates, while navigating a financial environment with more regulations than in previous years. We can be celebrating Real Estate success one day and navigating potential pitfalls the next.
So, does everyone “win”? No. Can we all be enchanted by Real Estate success in this current market? No. We can however use Colorado’s current Real Estate market as an opportunity to be mindful of each other’s experience, good and bad, while we all pursue our version of the American Dream. A dream that requires communication and team work for success by being aware that not all is good or bad in a great market.
Blaine Rapp with LC Real Estate is currently on the Loveland Business Partnership Board of Directors.