There’s no doubt that the general public has become a lot more computer literate over the past decade or so, and the amount of consumer information out in cyberspace has never been greater. If you are looking for a home in Colorado, you may have noticed that the Colorado Springs multiple listings are more sophisticated than ever, but few people know how to use this information to their advantage.
It wasn’t long ago that the information provided on the MLS was only available in printed form from your local realtor, but today it is possible for homebuyers to get instant updates on new listings by downloading a smart phone app. Most tech-savvy realtors have already figured out how to use MLS information as a negotiating tool, but homebuyers can also use the Colorado Springs multiple listings in a strategic way.
Here are a few tips from a well-known Colorado Springs realtor that may help you look at the Colorado Springs MLS in a whole new way.
- The Colorado Springs multiple listings may appear to be packed with properties that are priced too high for current market conditions, but there always a few that are priced way too low. Using a standard formula of offering 5 percent less than the asking price, one can find some decent deals on Colorado Springs real estate, as long as their offer is accepted.
- Most realtors will only access the market comps on a property when it is first listed. If nearby neighborhoods saw a lot of foreclosures or short sales during that time, then the house may have been listed at a lower price just to compete. However, since the home was listed there may have been some comparable nearby homes that sold at a higher price than expected. While this might drive up the price of new listings, it is rare for a realtor to recommend an increase in the sale price in such a soft housing market. Come in with an offer of 5 percent less on one of these homes, and you are likely to get a great home for your money.
The Colorado Springs multiple listings service (MLS) includes a wealth of information about the property, neighborhood, taxes, school district and other factors that determine a home’s true worth. An experienced realtor from Action Team Realty can help you understand how these factors can help you get the best deal on your new home.
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