Chris Cowles Real Estate Blog

An Update on Our Area Market

What’s happening in our area’s housing market and what to expect.

If you are thinking about buying or selling a home in this frenzied real estate market, it’s important to stay informed because things are changing quickly. To help with this, I’m here today with an update on El Paso and Teller Counties.

First, know that there has been a sudden halt in sales, as well as a decrease in prices. With the increase in mortgage rates, affordability has gone down. I predict that the next six to 24 months are going to be a little turbulent for some people. However, I also think that others will make a lot of money, like in 2007 to 2010 when people picked up properties at discounts and were able to rent them out.

"Through the ups and downs of the market, I'm here for you."

I fully expect that people's net worth will go down over the next two years and then rise later on. When times are tough, a lot of people think it will always be tough, and when times are good, they think it’ll always be good. However, that’s not the way things work.

Know that through the ups and downs of the market, I'm here for you. If you know somebody that needs some help with a distressed property, is late on their mortgage, has a property that was picked up by the bank, or whatever the situation is, know that I can help. I’ve seen it all. Also, if you want to know what your house is worth in the current market, let me know.

Feel free to call, text, or email me anytime. Maybe we could grab some lunch and talk about the current market conditions. Whatever you need, I’m here to help.