It's a buyer's world in real estate

By: Amy Lipman Email
By: Amy Lipman Email

GRAND JUNCTION, Colo. (KKCO) For those looking to expand their living quarters and invest in a home, realtors say now is the time to buy.

People have been taking advantage of the buying market, according to realtors who say there was a housing bubble this summer.

"I think there was a little surge of optimism with the interest rates still being down and wanting to buy before the interest rates go up," said Linda Romer Todd, owner of Associated Brokers. "The pricing of housing is still down even though we're still seeing activity."

But since housing prices and interest rates are low, it is making it tough for those looking to sell their homes. In addition, the market has yet to fully recover from the 2008 crash meaning homes are still not worth as much as they were six years ago.

"We're still off 30% for what they might have purchased for so there's not a lot of equity in the homes when you look at the market," Todd said.

Les Beam, a local homeowner, has had his house up for sale since mid-April and said he is not having much luck.

"I've dropped the price," Beam said. "I've had quite a few people come through and they say it's neat and it's clean, but they don't like the kitchen or the master bedroom isn't big enough or something like that."

Realtors say the housing market by nature is constantly fluctuating and outside factors such as the federal interest rate and public confidence in the economy can alter it.

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