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Murphy Creek : Real Estate Advice

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Tue Feb 5, 2008
Suzanne Walker answered:
Since, no one has answered you I'm going to throw a little food in for thought.

First, I'm in Colorado Springs, thus I cannot advise you about this area except to give you a couple of tips:

1. When buying into an area of new construction you are asking the right question. Typically, new construction can take a minimum of 3 to 7 years to recoup your initial investment. I don't know how much new construction there is in this area. You need to find a real estate agent that is an expert in this area to advise on the development plans.

2. Communities with amenities, such as golf, typically do very well over time in terms of investment. Just plan long term.

3. If you are dealing directly with the builders salesperson you will not get the answer you need. Find a buyer broker to represent you. 99.9% of the time it will not effect the sales price. The state of CO gives you right to representation. Take it.

4. What are your plans? This will affect whether or not it is a good investment. Again, a buyer broker can help you weigh the pros and cons.

Since, you are in VA, it may be difficult to get a good referral for an expert in this area, thus take your time and interview buyer agents who will look after your best interest.

Colorado is wonderful and hopefully you'll love it too.

Susan Walker
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