We know that Colorado is known as the Rocky Mountains. But is Colorado real estate rocking too? Even though Colorado real estate doesn’t sway too much, as per statistics (and when we compare Colorado real estate to others like Florida real estate or California real estate).
However, there are also people with opposite views. And believe me, a contrarian view can sometimes be to your great advantage, because under those circumstances you will usually face less competition from other real estate investors and you may be able to get Colorado real estate for much less than it really is. However, we are not saying that Colorado real estate is underperforming. Though I don’t remember exact statistics but Colorado real estate appreciation is only about 5-7% which is much lower to 25% or more for Florida real estate.
Again, when we say 5-7% appreciation in Colorado real estate, we are talking about the state in general. So, it is quite possible there are areas in the state where real estate appreciation is said to be 25% and there may be places where there is no appreciation in real estate. Opportunity is always there, the only thing you need is the art of finding a Gold deal in this Colorado real estate market.
When valuing Colorado real estate, you should consider a variety of factors, e.g.
You should assess the overall economic indicators and examine how they affect Colorado real estate (both in the near term and in the long term). You don’t need to be a financial analyst or real estate expert to do this assessment, you just need to track various news items and analytical reports about Colorado real estate. Also track mortgage rates and laws on tax breaks (as applies to Colorado real estate). All of these factors influence real estate trends everywhere (not just in Colorado).
In addition, you need to look for Colorado real estate opportunities by going to public auctions, foreclosures, working with lawyers for information, etc. Again, remember that not-so-good news about any real estate (be it Colorado real estate or Florida real estate), doesn’t mean that real estate investing doesn’t make sense in those places; in fact, it might reduce the number of competitors you have.
So if you feel that Colorado real estate isn’t great; You might be able to rock it for you. There are always many opportunities.