We know Colorado is famous for the Rocky Mountains. But does Colorado real estate rock, too? Although according to statistics, Colorado real estate doesn’t rock that much (when we compare Colorado real estate to other places like Florida real estate or California real estate). However, there are those who hold the opposite view. Believe me, going against the grain does sometimes bring you great profits because in this case, you generally face less competition from other real estate investors and you may be able to buy Colorado real estate for much less than it is actually worth. However, we are not saying that Colorado real estate is not performing well. While I don’t recall the exact statistics, Colorado real estate appreciates at a rate of only 5-7%, which is much lower than the 25% or so for Florida real estate. Again, when we say Colorado real estate appreciated 5-7%, we’re talking about the state as a whole. So it’s quite possible that there are areas of the state where real estate is appreciating at 25%, and there are areas where real estate is not appreciating. Opportunities are always there, the only thing you need is the art of finding the golden deal in this Colorado real estate market.
When evaluating Colorado real estate, you have to take into account various factors, for example, you have to evaluate the overall economic indicators and check what impact it can have on Colorado real estate (both short and long term). You don’t need to be a financial analyst or real estate guru to do this evaluation, you just need to track various news items and analysis reports on Colorado real estate. Also keep track of mortgage rates and tax abatement laws (as they apply to Colorado real estate). All of these factors can affect real estate trends anywhere (not just Colorado). In addition, you need to look for Colorado real estate opportunities by going to public auctions, foreclosures, working with an attorney to get information, etc. Again, keep in mind that one not-so-good news about any real estate (whether it’s Colorado real estate or Florida real estate) doesn’t mean that real estate investing in that location doesn’t make sense; in fact, it may reduce the number of your competitors.
So, if you don’t think Colorado real estate rocks; you can probably make it rock for you. There’s always plenty of opportunity.