Local housing market still growing in value

Local housing market still growing in value

Real estate veteran Greg Hahn expects the market to improve this year.

A veteran local real estate broker, Greg Hahn, co-owner and co-founder of ReMax of Pueblo, says the Pueblo foreclosure filing rate doesn’t actually reflect the local real estate market.

He says Pueblo’s 1,504 foreclosures in 2007, and the 1 in 39 households foreclosure filing rate as cited by the Colorado Division of Housing, are numbers he finds concerning.

Hahn says the subprime market most affected by foreclosures are houses selling for $100,000 and below and that’s where residential values mostly have dropped. Again, he said that’s a relatively small part of the real estate market.

While markets might look gloomy in places like Arizona and California that have seen huge peaks and valleys in property values, Hahn says he thinks optimism feels right in Pueblo.

by Karen Vigil, The Pueblo Chieftain Online

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