Colorado Springs
40° F
Mostly Cloudy
Mostly Cloudy
Advertisement

Flood risk not scaring off potential home buyers

Published On: Apr 28 2013 06:33:05 PM CDT

Heightened flood risks as a result of the Waldo Canyon Fire aren't having a negative impact on the real estate market in the area, experts said.

COLORADO SPRINGS, Colo. -

Heightened flood risks as a result of the Waldo Canyon Fire aren't having a negative effect on the real estate market in the area, experts said. 

Around the burn scar area, there are multiple for-sale signs on new properties. And according to one realtor, there are also plenty of people looking to purchase it. 

"The people that lived there want to come back to the area and new buyers love the area and they love the activity and what's going on," said Mary Smith, realtor at ERA Shields Real Estate. 

The soil in the burn area doesn't absorb water well, and that increases the risk of rain water running off and causing flooding. But Smith said fear of that isn't that great. 

"I have not seen that," she said. "And it certainly hasn't been the case in showings of properties." 

The mix of potential buyers includes people who lost their homes and are returning as well as newcomers to the area. 

Smith said even current neighbors wanting to sell aren't facing problems. 

"I don't think they're having any more trouble than anybody else in town," she said. "It's a matter of condition (and) price. And location is location."

Advertisement