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6.3% Appreciation in Colorado Springs?
Here's another Colorado Springs property that was submitted by a user that we will use as a teaching tool for our Colorado Springs, Colorado Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 8015 Essington Dr, Colorado Springs, CO 80920.
In the table below I show what happens to the value with a modest appreciation rate. Can you have years where this (or any other property for that matter) go down in value? Yes. Might it not go up by as much as we are estimating? Yes. Can it go up by more? Yes. Only time will tell what will happen.
| Years From Now | Value |
| Assumed Appreciation Rate: 6.3% | |
| At Purchase | $154,985 |
| Year 1 | $164,749 |
| Year 2 | $175,129 |
| Year 3 | $186,162 |
| Year 4 | $197,890 |
| Year 5 | $210,357 |
| Year 6 | $223,610 |
| Year 7 | $237,697 |
| Year 8 | $252,672 |
| Year 9 | $268,590 |
As you can see from the table above, if we assume an appreciation rate of 6.3% per year, then the property value eventually reaches $268,590 after 10 years.
If you have marketing out and know that soon you will be talking to real, live, motivated sellers in Colorado Springs, you probably want to have a plan in place for how you're going to handle these calls. You may find it useful to listen in as Jassen and Jamie role play through a series of scenarios that will help you get prepared for asking your motivated sellers those tough or sensitive quesitons. Check out How to Talk To Motivated Sellers: Role Playing Volume #3 to gain the confidence and knowledge that you need.
Until next time,
James
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