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HARRY'S BI-WEEKLY UPDATE 4.22.20

Wednesday, April 22, 2020
by Harry Salzman

April 22, 2020

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my Unique Brand of Personal Service, it is my desire to share current real estate issues that will help to make you a more successful and profitable buyer or seller.  

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These are exactly my thoughts when it comes to this “invisible enemy” we’ve all been fighting.  As Colorado begins to open things up a bit next Monday, I wonder exactly how we begin to approach this new normal.  There are still so many unknowns and while I’m as ready as the next person for more normalcy, I’m hoping we move forward cautiously--one step at a time.

When it comes to residential real estate…it’s been confusing and inconvenient for some, to say the least.  As brokers, we have not been allowed to show homes up to this point.  What that has meant for some of my clients is that while they have had to close on homes they sold, they were unable to physically look at potential options for their next home.  I’ve actually sold three homes in the last two weeks—all while staying in my home office, and the closings I’ve attended took place in our individual cars.  To say this has been a wild ride would be putting it mildly.  

I miss the face-to-face interaction tremendously but have been thrilled to Zoom or FaceTime with clients, associates and others. I’ve enjoyed “seeing” everyone and spending time discussing real estate plans, attending virtual classes and simply catching up.  While things may be standing still in some ways, life still goes on, and I’ve enjoyed the interactions afforded through virtual means.

I’ve always emphasized the importance of looking at the economy and residential real estate through “local” eyes, and this is especially true at this point in time.  Colorado Springs was ranked the number one housing market in the country by Realtor.com in March.  While this likely won’t be the case for April, it’s indicative of the relative strength of our local economy heading into this pandemic and an indication that things will likely improve somewhat faster here than in other parts of the country.  In fact, I have a number of clients who are ready to view homes as soon as we are able, not to mention some who are relocating here and need housing as soon as possible.  

The spring buying season is here and those who have been considering a move are looking forward to listing their present home during this seller’s market.  Available listings, while not plentiful, will likely increase and mortgage rates are still relatively low. The dynamics are there, but now we wait for the signal to start showing homes again.  There are conflicting issues on the state and local levels as to what we as brokers are allowed to do in terms of showing homes and as soon as the rules are more concrete you will be the first to know.  In the meantime, any questions or concerns you may have—just give me a call at 593.1000 or email me at Harry@HarrySalzman.com and I’ll be happy to discuss them with you.

 

THE CARES ACT AND REGULATORY ACTIONS CONCERNING MORTGAGE AND PERSONAL FINANCE—PLUS COVID-10 FAQS

National Association of REALTORS

Congress has passed relief packages to respond to COVID-19 and bank regulators have also adopted many new policies in light of needs of COVID-19.  Please click here to read the provisions and actions that are designed to address home buying, homeowner/landlord, and personal finance issues.

If you have any questions, as always, just give me a holler.

 

COLORADO SPRINGS IS NUMBER ONE IN NATION EVEN AS NATIONAL HOME SALES DIP IN MARCH….AND HOME SALES ARE CONTINUING TO PUSH AHEAD

Realtor.com, 4.22.20

As I indicated earlier, it’s an interesting time for residential real estate.  Nationally, existing home sales dipped in March while locally we saw a better scenario.  However, despite the national numbers, they are not that far from what they were a year ago, and home prices continue to rise most everywhere, and especially here in Colorado Springs.

Here is a “Housing Snapshot” of existing home sales nationally in March 2020:

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“Unfortunately, we knew homes sales would wane in March due to the coronavirus outbreak,” says Lawrence Yun, NAR’s chief economist.  “More temporary interruptions to home sales should be expected in the next couple of months, though home prices will still likely rise.”

“Earlier in the year, we watched inventory gradually tick upward, but with the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices,” Yun added. “Significantly more listings are needed, and more will come on to the the market once the economy steadily reopens.”

So, there you go…. home prices are holding steady and increasing…despite the pandemic.  This is good news for us all and a great starting point for both buyers and sellers once we are able to get back to some semblance of normalcy.

 

HOW POTENTIAL MORTGAGE BORROWERS CAN COPE WITH A VIRUS-STRUCK MARKET

MortgageProfessor.com, 4.18.20

The housing finance system has not faced a pandemic such as COVID-19 before and within a very short time, a significant segment of potential home buyers who need mortgages to make their purchases, or to refinance the one they have, have had their ability to repay severely eroded—some because they have contracted the coronavirus, but more due to losing their jobs or their business.  In response to the widespread deterioration in the ability-to-pay of prospective borrowers, credit standards have been markedly tightened—with the impact especially severe on these with the weakest credit credentials.

In an attempt to repair the process, the Federal Reserve has entered the mortgage-backed securities (MBS) market with massive purchases.  While MBS prices ordinarily drive the entire market price structure, these purchases should have resulted in higher MBS prices and lower mortgage rates, but they haven’t. Of course, they might have prevented even higher rates.

The mortgage holiday, which allows existing mortgage borrowers who have lost their income as a result of the pandemic to defer their payments without penalty, has prevented a catastrophic explosion in default rates—for a while.  But borrowers will have to make larger payments in the future or extend the terms of their loans.

As I mentioned earlier, we need to look at all of this from a local perspective and while folks here have been affected by COVID-19 in various ways, we have been more fortunate than much of the country.

 

Here are some ways that potential borrowers can cope:

 

  • Prospective Home Buyers Who Will Need Mortgages:  Those who have become sick, or lost their jobs or businesses, or had their credit score dropped significantly should put their purchase plans aside until their fortunes improve.  Those not directly affected by the pandemic should consider waiting a few months until the market has stabilized, and rates are back to where they were before the pandemic.  This applies to prospective refinancers.  

 

  • Homeowners in Process of Refinancing:  If you have not already locked an advantageous rate, there is little likelihood that it will happen now.  Back out to wait for the turbulence to end.

If your rate has been locked advantageously, the lender can unlock it only if you lose your job or if you incur a new debt.  Lenders have become hyper-vigilant in checking employment status of borrowers with loans in process.

You are safe, however, against losing an advantageous refinance because your credit score has dropped.  Lenders cannot undo the credit score used to qualify you for 120 days.

 

  • Home Buyers in Process with Purchase Agreements and Locked Mortgages:  Unless you lose your job or increase your debt, the rate lock will be honored, and the purchase will be executed.

If one or both of these conditions has been violated, the lock probably will be withdrawn, and the purchase will be cancelled.  Your best option in that case is having your deposit with the seller returned.  That will happen if your agreement of sale provides for the return of a deposit made by a prospective buyer whose failure to execute the transaction is due to a failure of the lender to deliver the promised loan.

 

Confusing?  You bet.  I’m guessing you might have some questions if any of the above scenarios apply to your individual situation, so please give me a call and we can discuss.

 

FEATURED LISTING:

Just sold my last three this week.  That gives me lots of time to devote to yours.  If you’re considering a move…please give me a call.

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HARRY'S BI-WEEKLY UPDATE

Monday, February 11, 2013
by Harry Salzman

February 11, 2013

 

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs

Residential real estate Market

 

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HAPPY VALENTINE’S WEEK…

…and if you’re looking for a different kind of Valentine’s present….have you ever considered buying a new home for your family?  It’s the kind of gift that just keeps on giving!

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Need I say more?  If you or anyone you know are looking for that unique Valentine’s present…just give me a call at 598.3200 and let’s see how we can make that dream a reality.

 

A WONDERFUL JANUARY FOR real estate SALES

Quite often the weather in Colorado Springs this time of year is not always conducive to productivity in real estate sales.  However, this year is proving to be just the opposite.  Whether it’s the milder temperatures or just simply the booming Real Estate climate, we haven’t seen this amount of sales activity in January since 2007.

It’s been a number of years since I’ve had multiple offers on a one-day-old listing which ended up selling for over the listing price but that’s just one of the deals I handled last month.  I’ve been telling you for quite some time that this is where the real estate market is headed and it appears that we have crossed the threshold into happier times. 

To illustrate that, here are some highlights of the January 2013 PPAR Report for Single Family/Patio Homes (Year-over-year comparing January 2012 to January 2013)

  • Number of Sales—660.  Up 39.2%
  • Average Sales Price---$227,575.  Up 11.1%
  • Median Sales Price---$205,000.  Up 19.0%
  • Inventory of Active Listings--2930.  Down 7.2%

Once again, these numbers demonstrate that now is the time to buy.  If you choose to wait, your housing cost will probably be higher and your choices not as good as what’s available today. 

To look at the PPAR Report in its entirety and see how your area is performing, please click here.  As always, I am available to answer any questions you may have or to help in any way you might need concerning your real estate needs.  Just give me a call at 598.3200 or email me at: Harry@HarrySalzman.com.

 

Home Builders had a great January too.  Pikes Peak Regional Building Department’s Report for January shows 178 permits compared to 85 permits in January 2012.

A strong rate of return to homeowners is one of the best indicators of a strong community such as Colorado Springs.  All signs point to a very positive and strong local housing sector and I’m proud to have been a “local” real estate Broker here for more than 40 years. 

I’m always happy to discuss our local market conditions and help not only those who reside here, but also those who are considering a move to our community.  If you know of anyone who is considering a move here, please give them my phone number or email and you know I will provide them with the same excellent level of service that I pride myself on giving to you all.

Some of you have been waiting to experience today’s increase in Fair Market Value and I am happy to meet with you to provide a Competitive Market Analysis of your current home.  You might be surprised at the probable sales price, along with the potential of additional proceeds this might entail.

Yes, the climate has already changed and we are no longer realizing a “Buyer’s Market” per se.  The pendulum seems to be right in the middle at the moment between Buyer and Seller.  What that means to you is that with a Market Value in the $200,000-250,000 range, the Seller is beginning to edge out the Buyer.  So, I’ll say it again.  Now is NOT the time to wait if you are thinking of selling, buying or investing.  Just give me a call so we can begin today.  As you can see, the tide is turning and you don’t want to be left out. 

JUST OFF THE PRESS…

THE SOUTHERN COLORADO ECONOMIC FORUM’S QUARTERLY UPDATES & ESTIMATES

Being a supporter of UCCS Southern Colorado Economic Forum, I received this quarterly update just two days ago and wanted to share it with our Readers even before general publication.  The full report is 17 pages long and you can click here to read it in full.  Here are some of the highlights I thought you would find interesting:

 

  • The best performing indicators included here are the new single-family permits (up 26.1%) and consumer sentiment (up 29.8%).  In addition, sales tax collections in Colorado Springs were up 8.9% over a year ago.
  • Analysis of the El Paso County Residential housing market (6 pages) shows that new residential permits were 819 higher in 2012 than in 2011 (up 58.5%).  2013 is starting off strong and support for residential construction is attributed to pent up demand, attractive pricing and record low mortgage rates.
  • While still early in the year, combined single-family permit activity is off to a strong start for 2012.  The Forum expects there will be approximately 420 more detached single-family and townhome permits issued in 2013 than in 2012.
  • At its Sixteenth Annual Forum in September 2012, the Forum forecasted growth in single- family home permits would be 6.5% in 2013. 
  • In MLS Activity, low inventory levels (listings) may constrain sales growth in 2013.  The decrease in supply of homes for sale coupled with an increase in sales of homes suggests equilibrium is returning to the local housing market.  As expected, this was accompanied by an increase in the price of homes sold.
  • The ratio of homes sold to total single family homes in El Paso county has proven to be a good indicator of strength/weakness in housing.
  • Market forces appear to have driven supply/demand to equilibrium as of June 2012.  The movement toward supply/demand balance was noted in the last several issues of the QUE.  Continued improvement in housing prices will depend on low mortgage rates and income and job growth.

The next several sections of the report include:

  • Colorado Springs Airport Trends
  • Colorado Springs Sales Taxes
  • New Car Registration Trends
  • Employment Trends and Wages
  • National Expectations
  • Misery Index (cute!)

It is with pleasure that Salzman real estate Services is able to share these statistics and forecasts with you as soon as they become available, each and every month or quarter, as applicable.   I would be happy to answer any questions you might have concerning the detailed reports and how they might affect you personally or just any question you might have concerning Real Estate in general.  Just call me at 598.3200.  Questions of a more personal nature might be better addressed to “Dear Abby”.  (cute?)

 

DOING THE HOMEWORK FOR YOU…JUST PART OF OUR JOB

In the past two weeks alone, I’ve attended three local presentations that have included Annual Forecasts based upon last year’s performance. 

We at Salzman real estate Services have always attended similar meetings in order to provide you with the most current Residential Real Estate Market conditions and forecasts.  Looking at the past is a very accurate way to predict the future and our business is no different than any other in that regard.  There are ups and downs and we want to help our clients take advantage of whichever market will serve them best.  That’s an important part of our job and one we take particular pride in doing well.

So you can rest assured that no matter which way the market swings, I will find a way to make it work to your advantage whenever possible.  Just remember….I provide you with this information so you can make informed decisions and what I’m telling at the moment is….NOW is the time to act if you have any thoughts of buying, selling or investing.  It’s a lot easier to help you when the market is starting to trend upwards than when it is on the way down!  Just some Salzman Sense for you.  Call me at 598.3200 and let’s get started.

JOKE OF THE WEEK

A man walks into a diner carrying a dog under his arm.  He puts the dog on the counter and announces that the dog can talk.  The man says he has $100 he's willing to bet anyone who says he can't.  The head cook quickly takes the bet, and the dog's owner looks at the dog and asks, "What's the thing on top of this building that keeps the rain out?"

The dog answers, "Roof".  The cook says, "Who are you kidding?  I'm not paying."

The dog's owner says, "Double or nothing, and I'll ask him something else."  The cook agrees and the owner turns to his dog and asks, "Who was the greatest baseball player ever?"

The dog answers "Ruth."

With that the cook picks them both up and tosses them out on the street.  As they bounce on the sidewalk in front of the diner, the dog looks at his owner and says, "DiMaggio?"

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HARRY'S WEEKLY UPDATE

Tuesday, February 5, 2013
by Harry Salzman

 

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January 28, 2013

 

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

 

relocation IS ON THE UPSWING WITH THE MARKET UPTURN

 

I’ve been quite busy lately…not only with my local clients, but also helping a number of new folks relocate from their present locales to new places all over the globe.  One is leaving France for Fort Lauderdale; another from Jacksonville, FL to Scottsdale while another is going from Chicago to Detroit.  These folks represent just a small portion of those that I helped in their relocation process during the past week.   And how do I do this you may wonder?  Well, as a long time member of the Relocation Directors Council I have made contacts with Realtors all over the country….and the world…and because of that I am able to be assured that those who are relocating somewhere other than the Colorado Springs area will receive the same brand of personal service that I provide to my clients. 

 

If you or anyone you know is considering a move anywhere….please give me a call and I will make certain that you are in capable hands wherever the move might be.  I can be reached at 719.598.3200 or emailed at Harry@HarrySalzman.com.

 

As an aside, as I speak with Realtors all around the country I’ve found that while a lot of the USA is just starting their housing turnaround….we in the Colorado Springs area are way ahead.  Part of that is because we never fell quite as low as many areas, but in any event, our recovery is proceeding well above the US norm I’m happy to report.

 

 

FOURTH QUARTER 2012 WAS VERY ACTIVE AND INDICATORS ARE ENCOURAGING

Data provided by the Pikes Peak Realtor Services Corp, from Pikes Peak MLS

 

Where you are a current home owner and curious about the current value of your home or someone who is thinking about buying….Hear Ye!  Hear Ye!

 

Here are the just published local real estate statistics for homes in the Pikes Peak Area.

 

Things are continuing to look up in the local real estate market.  In a nutshell:


New Listings                            +6.4%,

Sold Listings                            +10.4%,

Median Sales  Price                +11.1%.

Average Sales Price               +8.9%

% of Sold to List Price              +.5%

Days on Market                      -17.9%

Active Listings                         -6.1%

Months Supply                        -13.5%

For a complete overview of the entire 2012 year quarter to quarter, please click here.

You will be happy to see where you are today as compared to a year ago.  I’ve been telling you all year that this was going to happen and here with real market worthiness.  If you already own a home, this should bring a smile to your face.  On the other hand, if you have been thinking about buying your first home or trading up to your next home, market conditions represented in this report will justify that now is the time to buy a home.

 

Along with all this general information, also included are statistics for each individual area of  the Pikes Peak region.  Now you can compare different areas in our community to any other, if you desire, or simply satisfy your curiosity as to how your specific area is doing.

 

 

HERE ARE SOME 4th QTR. YEAR OVER YEAR STATISTICS FOR THE PIKES PEAK AREA*

 

 

                                                Median Sales Price               Average Sales Price

Black Forest:                         +16.7%                                    +19.1%

 

Briargate:                               +11.4%                                     +7.1%

 

Central:                                  +10.8%                                     +3.6%

 

Divide:                                    +61.4%                                    +46.1%

 

East:                                      +14.3%                                    +19.7%

 

Falcon North:                         +9.1%                                      +4.5%

 

Florissant:                             +14.0%                                     -2.8%

 

Fountain Valley:                     +4.7%                                      +7.4%

 

Manitou Springs:                  +38.9%                                    +23.0%

 

Marksheffel:                            +2.4%                                       -4.5%

 

Northeast:                                +4.3%                                      +5.7%

 

Northgate:                               +5.9%                                      +2.0%

 

Northwest:                                -1.8%                                       -5.1%

 

Old Colo.City:                         +3.4%                                       +7.3%

 

Powers:                                   +12.3%                                    +12.2%

 

Southeast:                                 -0.9%                                       -0.7%

 

Southwest:                               +6.4%                                       +2.2%

 

Tri-Lakes:                                 +8.8%                                       +2.9%

 

West:                                      +25.4%                                      +5.4%

 

Woodland Pk:                          +6.5%                                    +14.9%

 

*Statistics from the Pikes Peak MLS, provided by the Colorado Assoc. of REALTORS.

 

 

As you can see, things are starting to move rather quickly and the housing recovery in our area is already on its way.  To see the complete breakdown on any area listed, click here.  As always, I am here to answer any questions you may have about these reports or any real estate concerns you may have.

 

And, as I mentioned earlier, if you’re in the market for a new home, NOW is the time.  With a very limited inventory and percent of days on the market quickly going down, I’m finding multiple buyers for homes I have listed in record times.  To be certain you can get exactly what you are looking for at a price that fits your budget, call me today at 719.598.3200 and let’s start talking. 

 

 

A NOTE TO STRUGGLING HOME OWNERS

 

As reported in last week’s Wall Street Journal, US Banks are going to have to do more to help struggling mortgage borrowers keep their homes under final rules released last week by the Consumer Financial Protection Bureau. 

 

If you or anyone you know is having a problem with keeping your mortgage current, be sure to contact your service provider and find out what type of relief can be provided. 

 

 

ALL SIGNS POINT TO HOME PRICE SURGES—HOME SALES ROSE TO 5 YEAR HIGH IN ‘12

 

There’s good news in most all real estate and general publications I’ve read lately concerning the housing recovery and home prices being on the rise.  In fact, USA Today headlined that “Housing set to give economy a boost in ‘13”  and went on to quote Moody’s Analytics chief economist, Mark Zandi as saying that he “expects housing to contribute a fifth of the economy’s growth this year, while in 2009 it subtracted more than 1 percentage point from the GDP growth”.

 

While several publications reported a dip in home sales in December, they were not referring to the Colorado Springs market in which homes sales increased 7.8% over the same month a year earlier.  In fact, according to the report by Pikes Peak Association of Realtors,  Colorado Springs area homes sales totaled 9,146 in 2012—the most since 2007. 

 

WITH RISING PRICES, INVENTORIES FALLING

 

As I mentioned earlier, along with the good new of rising prices comes the reality of low inventories and fast turnaround times with multiple offers. 

 

The lower inventories can be attributed to several factors including home owners being hesitant to sell if they are not in a position to make a profit or if they don’t have enough equity to trade up.  Another factor is that investors are continuing to snatch up properties.  In the past, they may have fixed up the home for resale, but now many are choosing to hold on to and rent them instead.  And, while home building is up, it still has not rebounded as quickly as hoped.

 

This should come as no surprise to most of you as I’ve been telling you for some time to expect this and now the time has come.  With rising prices, low inventories, new regulations on our doorstep and at the moment still low interest rates….it’s now or never for some folks.  If you are one of those…there’s still time…but the clock is ticking and you don’t have long.  Or you do, but it will cost you more in sales price and possibly mortgage rates to do so. Call me today at 719.598.3200 and find out how we can make your home ownership goals a reality.

 

AND FINALLY…..A HONOR FOR ME AND A THANK YOU TO YOU

 

Once again in 2012  I was honored to be selected to the Peak Producers Club as one of the Pikes Peak Top 10% of real estate Agents.  This is something I owe to all of you, my friends and clients, whom it has been my pleasure to serve as your Real Estate Broker.  The long time relationships I share with so many of you make it such a pleasure for me to work with you and obviously make is easier for me to know just what your individual needs and wants might be. 

 

If any of you, or any of your relatives, co-workers or friends are looking to buy, sell, or invest in real estate, I’d be honored to help make these dreams a reality.  Please call me at 719.598.3200 with any of your needs or refer me via phone or email at Harry@HarrySalzman.com.     

 

 

JOKE OF THE WEEK

 

A Little Christian Humor (from a “nice Jewish guy”)

 

Jesus and Satan were having an on-going argument about who was better on the computer.  They had been going at it for days, and frankly God was tired of hearing all the bickering.  Finally fed up, God said, 'THAT'S IT!  I have had enough. I am going to set up a test that will run for two hours, and from those results, I will judge who does the better job. So Satan and Jesus sat down at the keyboards and typed away.

They moused.

They faxed.

They e-mailed.

They e-mailed with attachments..

They downloaded.

They did spreadsheets.

They wrote reports.

They created labels and cards.

They created charts and graphs.

They did some genealogy reports.

They did every job known to man.

Jesus worked with heavenly efficiency and Satan was faster than hell.

Then, ten minutes before their time was up, lightning suddenly flashed across the sky, thunder rolled, rain poured, and, of course, the power went off.

Satan stared at his blank screen and screamed every curse word known in the underworld.

Jesus just sighed.

 

Finally, the electricity came back on, and each of them restarted their computers.  Satan started searching frantically, screaming: 'It's gone!  It's all GONE!  'I lost everything when the power went out!' 

 

Meanwhile, Jesus quietly started printing out all of his files from the past two hours of work.

Satan observed this and became irate.

'Wait!' he screamed.  That's not fair!  He cheated!  How come he has all his work and I don't have any?  'God just shrugged and said,

 

“JESUS SAVES “

 

 

FEATURED LISTING


 

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2420 Calistoga DR

Price: $157,500

Beds: 3

Baths: 3

Sq Ft: 2321

Great wide open floor plan with vaulted ceilings on main level and master bedroom, master bath includes large soaking tub w/vaulted ceiling. Walk-in closet and ceiling fan in master bedroom. The laundry area is on the main level at entry from the ga...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

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HARRY'S WEEKLY UPDATE

Tuesday, February 5, 2013
by Harry Salzman

                                             
January 7, 2013

A Current Look at the Colorado Springs Residential real estate Market

HAPPY NEW YEAR

I hope this first eNewsletter of the year finds you and your family happy, healthy and ready to begin a brand new year.  I’ve always found it somewhat exciting to start all over and see what the New Year will bring and I hope it brings you and yours everything you wish and work hard for.  With all the new regulations and a new congress, we never know what’s in store for the real estate market, but most of our sources indicate that 2013 will continue the upward trend that started mid 2012 and that’s great news for us all.

2012 PROVED TO BE A PHENOMENAL YEAR FOR HOME MARKET VALUE GAINS

December, together with the entire year of 2012, has seen the best home market increases in  many years.

  •     702 homes sold during the holiday month was 7.8% better than 1 year ago
  •     Average sales price was $243,180--15.4% higher than $210,688 one year ago
  •     Median sales price was $209,700--13.4% higher than $185,000 one year ago
  •     Single family listings were down to 2933 which is a 10.7% decrease in current inventory


So, depending on whether you consider average or median sales price, our community has gained between 13.4% -- 15.4% in home values.

Home ownership is where you might consider putting to use that extra "money in the bank" or instead of playing the stock market.  What are you currently getting for that?  Not 13.4%--15.4% I would think.

Click here to see the full report containing all the general statistics as well as comparisons of your current local home area and all the areas we serve.  There are reports on all neighborhoods in the Pikes Peak area.

By using this information on behalf of our clients, we find they have far exceeded their expectations in terms of personal decisions in either buying or selling a home.

Furthermore, when this data is used for our buyers or sellers, we are able to get a more advantageous price and terms…thus saving our clients money and shortening the time to closing.  It’s a big win all around.

If you have any questions about this data (or any real estate questions), please give us a call at 598.3200 or 800.677.6683 (MOVE).

HOW THE “FISCAL CLIFF” BILL AFFECTS real estate

As I’m sure you are aware, on January 1, 2013 the Senate and House passed H.R. 8, legislations to avert the “fiscal cliff” and the bill was signed by President Obama on January 2, 2013.

We received a summary of real estate related provisions in the bill from NAR:

real estate Tax Extenders

  •     Mortgage Cancellation Relief is extended for one year to January 1, 2014
  •     Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
  •     Leasehold Improvements:  the 15 year straight-line cost recovery for qualified leasehold improvements for commercial properties is extended through 2013 and made retroactive to cover 2012
  •     Energy Efficiency Tax Credit:  the 10% tax credit (up to $500) for homeowners for energy efficiency improvements to existing homes is extended through 2013 and made retroactive to cover 2012.


Capital Gains

Capital Gains rate stays at 15% for the top rate of $400,000 individual and $450,000 joint return.  After that, any gains above those amounts will be taxed at 20%,  The 250/500k exclusion for sale of principle residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax.  After that, the rate will be 40 percent, up from 35 percent.  The exemption amounts are indexed for inflation.

UPBEAT HOUSING FORECAST FOR 2013

As mentioned earlier, the last few weeks has brought a lot of good news for homeowners or potential homeowners.  Most real estate publications have written very upbeat stories about the future of housing in 2013.  There have been many articles and sources, but they all seem to agree on this, which is good news for us all.

We have been, and are continuing to experience a growing demand in residential real estate and a continual shrinking supply, which is creating a strong housing market.  Yes, “the tide has changed”.

Personal consumer confidence is providing motivation for people to hop off the fence and buy now, especially here in the Pikes Peak region where things have been moving quickly for some time.

The Wall Street Journal has predicted “home prices are on track to notch their first yearly gain since 2006, the strongest performance since the housing bust and a development that could accelerate the real estate rebound even as the broader economy stutters”.

Realtor Mag has questioned whether young adults are missing out on big housing opportunities.  This is important to note because with low mortgage rates and fallen home values, first time home buyers—particularly the younger generation—should be giving serious consideration to finding ways to get into the real estate market.

Furthermore, The Wall Street Journal reports that tenants are feeling the pinch of rising rents.  According to the Journal, "record-low mortgage rates mean that homeowners have a smaller financial burden for their residences than at any time since the early 1980’s”.  However, rising rents leave many tenants with less money to spend on other things.  Factors that have pushed up rents include the short supply of rental houses and a growing demand due to several years of foreclosures and population growth.    

With rising rents and short supply of available housing, now is the best time to consider a home purchase, either for you or for investment purposes.  If you or someone you know is in this position, have them give me a call at 598.3200 and let’s see if there is some way we can help these renters become homeowners.

Zillow announced at year-end that “home prices will rise 3.1% into the new year”.  They also indicated that home prices were expected to increase 4.6% for 2012 which is up from their former forecast of 2.4% and that these prices are projected to rise by more than 3% annually through 2017.

The Gazette reported on December 21, 2012 that the “housing market is the strongest in five years”.  The article indicated that Sales are up 14.5% from a year ago, although they remain below the 5.5 million that are consistent with a healthy market.  However, they said the NAR report remains encouraging and that the “positive momentum established in the housing market during 2012 appears likely to continue into 2013”.

Many buyers, especially first time buyers, are concerned about the rising home prices and the scarcity of homes on the market.  This is contributing to a lot of people planning to buy in order to get in front of rising prices.  Low inventory is also a factor here and will force some buyers to look in areas that they had not considered previously.

Again, we are here to help with any concerns you may have in any of these areas.  Just give us a call at 598.3200 and let’s see if we can find a solution for you.

WE’RE HERE TO SERVE ALL YOUR real estate NEEDS

Whether you’re considering buying, selling, investing or simply need help in making an informed decision about what fits your individual housing or investment needs, we’re here to help.  Just give us a call at 598.3200 or 800.677.MOVE (6683) today.

And if you have a friend, family member or co-worker who wishes to buy or sell local real estate, or who is planning a move to the Pikes Peak region, remember—I’ve got more than 40 years of experience in providing relocation and Real Estate services to clients throughout the world.  I am uniquely qualified to assist them in making the best decision for their individual wants and needs and always take that into consideration when negotiating on their behalf.  Have them contact me at Harry@HarrySalzman.com and I will be happy to add them to our eNewsletter list, or better still, send me a note with their email address and I will take care of it right away.

JOKE OF THE WEEK

A man was sitting at a bar enjoying an after-work cocktail when an exceptionally gorgeous and sexy young woman entered.  She was so striking that the man could not take his eyes away from her.  The young woman noticed his overly attentive stare and walked directly towards him.  Before he could offer his apologies for being so rude, the young woman said to him, “I’ll do anything, absolutely anything, that you want me to do, no matter how kinky for $500 on one condition.”  Flabbergasted, the man asked what the condition was.  The young woman replied, “You have to tell me what you want me to do in just three words.”  The man considered her proposition for a moment withdrew his wallet from his pocket and slowly counted out five $100 bills, which he pressed into the young woman’s hand.  He looked into her eyes and slowly, meaningfully said, “Paint my house.”
 

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HARRY'S WEEKLY UPDATE

Monday, December 17, 2012
by Harry Salzman

 

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December 17, 2012

 

HARRY'S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

HI THERE, EVERYONE.

Mid-December to January, every year, seems to produce fewer articles of interest in the real estate industry.  Most people are holiday gift shopping for their families and friends.  Buying a home in the next couple of weeks isn't at the top of the list.  HINT...HINT.  We are available to show homes and provide you and your family a huge GIFT -- like Buying or Listing a home before the end of this calendar year.

 

OH WELL...ANOTHER REGULAR WEEK, BUT IT'S GREAT FOR real estate ACROSS THE USA

The information in this section justifies why we continue to be very positive.  As always, our thoughts come from multiple sources within National real estate publications:

  • Freddie: Great Expectation For Housing In 2013
  • More Americans Say Now Is A Good Time to Sell
  • Americans More Bullish on Buying Homes - housing market Looking Up Heading Into 2013
  • Investors To Boost housing market Again In 2013

 

FREDDIE: GREAT EXPECTATIONS FOR HOUSING IN 2013

    Daily real estate News | Tuesday, December 11, 2012

"The housing market is expected to continue its rise in the New Year, according to Freddie Mac's U.S. Economic and Housing Market Outlook for December.

Some other forecasts for the housing market in 2013..

  • Home values are expected to increase 2 to 3 percent next year.
  • Household formation is expected to increase to a net 1.20 million to 1.25 million household in 2013.  Housing starts are expected to reach near the 1 million annualized pace by the fourth quarter.
  • Vacancy rates are expected to drop to 2002 and 2003 levels for apartments and single-family homes for-sale  'as household formation outpaces new construction.'

'The last few months have brought a spate of favorable news on the U.S housing market with construction up, more home sales, and home-value growth turning positive,' says Frank Nothaft, Freddie Mac's chief economist.'"

 

MORE AMERICANS SAY NOW IS A GOOD TIME TO SELL

    Daily real estate News | Tuesday, December 11, 2012

"More Americans are growing confident about selling with the share of those who say now is a good time to sell..

The rise in those who say it's a good time to sell has helped narrow the gap with those who say now is a good time to buy, according to Fannie Mae's November 2012 National Housing Survey, released Monday.  Americans are also getting more confident about the direction of the overall housing market and the economy according to the report.

'Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year heights,' says Doug Duncan, senior vice president and chief economist of Fannie Mae.

'This growing confidence in a housing recovery, in addition to other factors may reinforce growing consumer optimism regarding the improving direction of the general economy,' Duncan says."

 

Americans More Bullish on Buying Homes - housing market Looking Up Heading Into 2013

    HousingWire | Wednesday, December 12, 1012 - Trulia's 2012 American Dream Survey

 

 

INVESTORS TO BOOST housing market AGAIN IN 2013

    Daily real estate News | Thursday, December 13, 2012

"Investors have had a big appetite for real estate lately, and they are expected to continue to snatch up homes in 2013 and help push home prices higher."

This past week, the National Association of Realtors Research Department published some interesting data.  The title is "How Well Do You Know The Home Buyer and Seller Trends of 2012."  The chart below makes the data easy to understand.  The highlights are: 

  • Who is buying and selling of married couples?
  • How many buyers and sellers are first timers?
  • How much do buyers and seller earn a year?
  • How do buyers and sellers find an agent and what kind of help do they want?

 

 

WHO'S CALLING THE SHOTS: BUYERS OR SELLERS?

    Daily real estate News | Wednesday, December 12, 2012

"The housing market is changing, creating a 'new playing field for home owners, who are finally able to sell, as well as would-be buyers who've been delaying a purchase in anticipation that prices would keep falling,' Money Magazine reports.

Still, home sellers should keep their expectation in line: Price increases are to be modest and gradual.

As for buyers, they may need to have a better understanding of the increased competition they may face."

Of course, this data is a bit different per location together with the professionalism of their individual Realtor.

If you have any questions about this data (or any real estate questions), please give us a call at 598.3200 or 800.677.6683 (MOVE).

 

MORTGAGE RATES CONTINUE TO BE RIDICULOUSLY LOW

Fixed-rate mortgages sank down near their record lows last week, according to Freddie Mac's weekly mortgage market survey.  The low mortgage rates are helping to keep homebuyer affordability high and unlock savings for home owners.

  • 30-year fixed-rate mortgages are around 3.32%
  • 15-year fixed rate mortgages are around 3.0%

And here's a different type of mortgage that we introduced to recent clients - YES, CLOSINGS HAPPENED.

  ****10-year fixed-rate mortgage at 2.75%

  • With only a 10-year length of time of a mortgage, the monthly payments will be higher
  • Wouldn't it be nice to have your home paid off around the time that you retire?
  • This is not a dream.  This is reality.  AND I CAN HELP YOU MAKE THIS ALL COME TRUE.  Contact me at 719.598.3200 or 800.677.6683 (MOVE).  Email: Harry@HarrySalzman.com

Let's consider two issues:  house values are going up again, and inflation will be back next year.  Both are major parts of our cost of living which is estimated to increase about 3.0% or more.

Here is a WILD thought -  If you might be comfortable with a 10-year mortgage at 2.75%, your net expense of a house to be purchased might be offset by appreciation and inflation.  Homeowners have experienced that increase in their home's value in recent years.  This would make your cost of housing next to zero, and you would have a free & clear mortgage upon retirement.

Another thought - even if your personal budget would be more comfortable with a mortgage of a 15 or 30-year term, mortgage rates are cheap today!  Take personal advantage of the current market. BUY.

This past August, I celebrated my 40-year Anniversary in our Colorado Springs real estate business.  Over all those years, our local housing appreciation has averaged 5.7% annually, covering every economic cycle over the long haul.

Give us a call to discuss our local market and let us help you find the best deals available.  Call at 598.3200 or 800.677.6683 (MOVE).

If you are wanting to buy, sell, trade up, or simply looking for investment property in the Pikes Peak region, Remember—I’ve got more than 40 years of experience in providing relocation and real estate services to clients throughout the world.  I am uniquely qualified to assist you in making the best decision for your individual wants and needs and always take that into consideration when negotiating on your behalf.  You can also contact me at Harry@HarrySalzman.com,

Whether a first time Buyer, a trade up, or looking for a investment, treat yourself and BUY A HOME NOW.  Give yourself a Christmas present.  You deserve it. 

 

To all of our Readers, our next issue will be in January 2013.  Happy New Year.

 

 

Thanks for being part of my eNewsletter family and for sharing it with your family, friends and clients.  It is a source of pride that this publication is written each week in the same locale where "America The Beautiful" was written.

 

Harry

 

 

 

 

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

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HARRY'S WEEKLY UPDATE

Monday, December 10, 2012
by Harry Salzman

 

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December 10, 2012

 

HARRY'S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

HOLIDAY GIFTS TO COLORADO SPRINGS HOMEOWNERS

The increase in Residential real estate closings in November 2012 have provided Christmas gifts to Homeowners.

Our local housing market has demonstrated that "Owner Occupied" and "Investors" are receiving an increase in the value of their homes.

The highlights are:

  • Average Sales Price is $218,230

                        up 6.3% since Nov 2011

  • Median Sales Price is $185,000

                        up 9.7% since Nov 2011

  • Active Listings for Single Family / Patio Homes

                        are down 9.4%  since Nov 2011

  • Total Sales in Nov were

                        up 14.9% since Nov 2011

We have been suggesting that the people who have been waiting to buy, should look out for themselves and take advantage of today's market.  We feel that two costs will be higher next year: the prices of Listed Houses will be higher and Mortgage rates should be more expensive than today.

The statistics trend of last month and all of 2012 show the basics.  Every figure concerning Colorado  Springs housing has increased since one year ago and inventory of listings are down.  Therefore, as we experience an upturn in housing demand while the listing supply is down, the housing prices will climb. (Sure, anything can change via government)

Currently, the USA Economy is expected to see 4 to 6% of inflation in 2013.  Our personal cost of living should rise next year.  As we understand it, housing is a large function of an industry within cost of living.

Here are the titles of local reports for Colorado Springs ending November 2012.

  • Listing and Sales Summary
  • Monthly Listing Activity / per area
  • Monthly Sales Activity /  per area
  • Active & Sold Listings / per price range
  • Monthly Sales Analysis / per area

Click here for the 12 pages of the data

 

LOCAL HOMEBUILDERS ARE THE HAPPIEST THAT THEY HAVE BEEN IN 5 YEARS!

November was the best month of new construction since 2007.  Pikes Peak Regional Building is reporting that there were 182 Single Family permits, which is up almost 50% since Nov 2011. 

In an article in The Gazette | Tuesday, December 4, 2012, Homebuilding in Pikes Peak Region Hits Five-Year High - Permits for single-family homes total 182 in November, a nearly 50 percent jump over last year, Rich Laden states, "The pace of homebuilding in the Pikes Peak region reached a five-year high last month, as the housing market continued to rebound from years of recession-induced struggles. 

"Building permits for single-family homes -- which are issued to local builders when they're ready to construct homes and serve as a key measure of building activity -- totaled 182 in November, a nearly 50 percent jump over the same month last year, according to a Pikes Peak Regional Building Department report released Monday. 

"For the first 11 months of the year, building permits totaled 2,065 -- surpassing the 2,000-mark for the first time since 2,135 permits were issued in 2007.

John Bissett, board president of the Housing and Building Association of Colorado Springs, said  "Not only are buying conditions favorable, but many of today's buyers are existing homeowners who had sought to move up, but couldn't get a fair price for their homes the past few years...Now, many of those move-up buyers are seeing homes in the re-sale market selling relatively quickly, and prices are on the way up."

Rich Laden also reports, "In addition to the positive report on housing, the area's foreclosure picture brightened in November.  Foreclosure filings totaled 212 last month, the fewest in any month since 180 in December 2006, an El Paso County Pubic Trustee report showed Monday."

We would like to point out that another economic value to our city is that with this high number of housing construction, there are millions of dollar income from sales tax of construction materials to our city and county.

If you have any questions about this data (or any real estate questions), please give us a call at 598.3200 or 800.677.6683 (MOVE).

 

AFFORDABILITY - A FORECAST

Many nationwide publications are now addressing what we have been perusing this past year.  Your mortgage interest rate will more significantly impact return on investment.  It is anticipated that long term rates are scheduled to begin moving up in 2013. 

 

 

It is important to consider the long term benefits of today's rates and the likelihood that we will not see the same opportunity again in our generation.  When interest rates mirror this chart, once again we should see appreciation in market values of houses.  Those considering a purchase should act.  Now is the time to buy a home.

Whether upgrading or downsizing, sellers certainly enjoy a more favorable market position today when compared to that of only a year ago.  Inventory has decreased while Buyer side confidence has essentially been restored.  With equity restoration as a result of increasing values, many Sellers once again control their own destiny.  They can Sell, Buy, or rent.  There are finally choices.  But if the property no longer fulfills their lifestyle, we encourage them to acquire a property better suited to their needs.  NOW.

If you are considering a real estate transaction, thorough analysis and competent representation are essential (such as Salzman real estate Services).  We are in a transitioning market.  If you understand the underlying facts, we can continue to make good business decisions logically and without emotion.  I am real estate professional and accept responsibility for keeping my friends, neighbors, and business community informed in all aspects affecting the Real Estate portion of their holdings.

Give us a call to discuss our local market and let us help you find the best deals available.  Call at 598.3200 or 800.677.6683 (MOVE).

If you are looking to Buy, Sell, trade up, or simply looking for investment property in the Pikes Peak region, Remember—I’ve got more than 40 years of experience in providing relocation and real estate services to clients throughout the world.  I am uniquely qualified to assist you in making the best decision for your individual wants and needs and always take that into consideration when negotiating on your behalf.  You can also contact me at Harry@HarrySalzman.com,

 

 

WHAT'S REALLY DRIVING THE RISE IN HOME PRICES?

Daily real estate News | Tuesday, November 27, 2012

"The Wall Street Journal recently cited five significant factors behind the rise in home prices, as numerous markets see significant year-over-year gains.  The big price drives are:

  1. The rise in housing affordability - which is drawing more buyers out into the market who are looking to cash in on low mortgage rates and fallen home prices compared to a few years ago.
  2. The rise in household formation - which is expected to hit 1 million new households this year.  That is up from an average of 570,000 over the last five years, according to data by Bank of America Merrill Lynch.
  3. The rise in rents - which has prompted more investors to purchase properties to rent out and more renters to second-guess why they are paying so much in rent when they could buy.
  4. The decline in distressed sales and foreclosures - which has fallen significantly this past year.  While distressed sales are still high by historical standards, they have fallen from their peaks in most markets, helping to alleviate the downward pressure on home prices in many area.
  5. Inventories of homes for-sale at their lowest levels in nearly 50 years - and builders have cut back on construction and many home owners are waiting to sell until they can recover some equity on their properties."

Source:  "Five Reasons Homes Prices Have Been Rising"  The Wall Street Journal |Tuesday, November 27, 2012

 

WE'RE HERE TO SERVE ALL YOUR real estate NEEDS

We’ve been keeping you up-to-date on a weekly basis concerning the Colorado Springs market and want to remind you that if you are looking….the time is NOW.  There are going to be fewer choices in the coming months and prices are sure to be higher.  And with mortgage rates at an all time low, you can’t afford to wait.  BUY NOW.

 

FEATURED LISTING

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44 Misty Creek DR

Price: $249,900

Beds: 4

Baths: 4

Sq Ft: 2641

Wonderful 2-Story w/Pikes Peak Views on Cul-de-Sac* Home can be Main Level Living* Tons of charm & upgrades*Open, light & airy* 4BD, 4BA, 2 Car* Professionally finished basement* ML Master Bedroom w/ceiling fan, walk-in closet* 2 BA's, Laundry* Kitc...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

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HARRY'S WEEKLY UPDATE

Monday, December 3, 2012
by Harry Salzman

 

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December 3, 2012

 

HARRY'S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

 

FANTASTIC NEWS -- COLORADO SPRINGS HOME VALUES ARE ON THE RISE

 

Another "Thank You" to The Gazette for interviewing me in the article "Home Values Are On The Rise In The Springs" published November 29, 2012.  Here are direct parts of the story concerning Colorado Springs.

 

"A federal agency's report on single-family home prices is the latest sign the Colorado Springs values are on the rise--albeit at a slower rate than what other reports have shown.

 

Area home prices rose 1 percent in the third quarter when compared with the same period a year ago, according to a report this week by the Federal Housing Finance Agency.

 

Colorado Springs' third-quarter increase ranked it 87th among roughly 300 metro areas included in the report.

 

The Federal Housing Finance Agency's report on home prices uses a different measurement than other reports; it tracks prices of homes as they are sold, re-sold or refinanced.  Some economists believe tracking same-home prices over time is a more accurate gauge of the health of a community's housing market.

 

While the agency's report shows only a 1 percent year-over-year increase in Springs prices, it never-the-less shows values are headed upward--the same direction as shown in other recent reports.

 

Figures compiled by the research arm of the Pikes Peak Association of Realtors shows Colorado Springs area home prices rose 7.2 percent in the third quarter when compared with the same period last year.  The association's numbers include prices of homes sold in the third quarter by real estate agents, and compares them against a different group of homes sold in the same period the previous year.

 

Harry Salzman, owner of Salzman real estate Serves Ltd, in Colorado Springs, said he expects area prices to continue to rise.

 

Unlike other communities--such as Phoenix or Las Vegas--that saw unrealistic price increases several years ago, and then saw steep drops when the real estate market crashed, Springs prices have been consistent over time, Salzman said.  Since local prices never fell too far, they are starting to climb back gradually as the market recovers, he said.

 

Prices could continue their ascent in 2013 if inflation--practically not existent the past few years--takes hold, Salzman said.  And if mortgage rates also rise next year, homebuyers who are on the fence should consider making purchases now to avoid rising home prices and higher interest payments, he said."

 

Thank you, Rich Laden at the Gazette.

 

 

 

LIVING COSTS STILL BELOW U.S. AVERAGE, BUT LOCAL NUMBERS ARE CLIMBING

The Gazette | Friday, November 30, 2012

 

"Although living costs in Colorado Springs remain below the national average, they have continued to climb closer to the average as housing and utility costs have moved higher in the past year.

 

Living costs in the Springs were 3.3 percent below the national average during the third quarter, the closest they have been in the national average in nearly eight years and up from 6.8 percent below the average a year ago, according to a quarterly survey by the Arlington, Va.-based Council for Community and Economic Research.  The index for the Springs hit a 20-year low in mid-2011 in comparison with the national average and has moved closer to the average every quarter since then; local costs were 3.9 percent below the average in the second quarter."

 

We at Salzman real estate Services are usually asked about cost of living questions from people who are considering relocating to Colorado Springs.  This information is very positive for people who wish to move here, as we currently have a lower cost of living.  It is expected that in 2013 living costs will rise, due to an increase in inflation, but the market values of a house will also increase.  We have read from various sources that inflation of 2013 is estimated to increase 4-6% at this time.  Now is the time to buy a home.

 

If you have any questions about this data (or any real estate questions), please give us a call at 598.3200 or 800.677.6683 (MOVE).

 

Oh, by the way, since today is December 3, 2012, the current local November Sales and Listing Activities are not published yet.  They will be available by next week's eNewsletter.

 

 

 

NATIONWIDE UPTURN IN RESIDENTIAL real estate

Highlights published in the past week.

 

Now, Homes Drive Economy  Wall Street Journal | Wednesday, November 28, 2012

"The U.S. housing market, which plunged the economy into recession five years ago and was a persistent drag on the recovery is now a key economic driver at a time when other sectors are slowing...But while those economic pillars weaken, an improving housing market is buoying consumers' spirits and give the economy its biggest lift since the real-estate boom...Rising home values make home-owners feel better about their finances--making them more likely to spend and, with interest rates low, more comfortable about taking on debt...'Housing's share belies its important to the economy,' said Joseph LaVorgna, chief U.S. economist at Deutsche Bank.  'The confidence effects are massive.'...Rising rents and a uptick in household formation have ignited demand, which, in turn, has pushed inventories of homes for sale to their lowest level in a least a decade.  The upshot: More buyers are chasing fewer homes, pushing up prices."

 

2012: The 'Turn-Around Year For Housing'  Daily real estate News | Wednesday, November 28, 2012

"More housing reports released this week show the housing recovery is gaining momentum...The Federal Housing Finance Agency also reported this week that housing prices are continuing to rise, increasing 1.1 percent from August to September and up 4 percent compared to last year.  The FHFA price index only encompasses purchase prices of homes that have mortgages owned or guaranteed by Fannie Mae or Freddie Mac.  Meanwhile, Standard & Poor's/Case-Shiller reported Tuesday that home prices were up 3.6 percent from a year ago."

 

BBVA: housing market Recovery Expected To Soar Through 2013  HousingWire | November 26, 2012

"A strong housing market gained momentum in November and is expected to continue through 2013, especially with low mortgage rate...Supply of the existing homes on the market is down to 5.4 months in October as a result of constrained supplies, which is limiting immediate sales.  While median sales prices increase, it was not enough to offset the declines from the last three months."

 

Outlook For Housing Brightens, But Don't Look For A Boom  Daily real estate News | Wednesday, November 21, 2012

"The housing recovery may not be a boom 'but it's recovering,' said Kenneth T. Rosen, chairman of the University of California, Berkeley, Fisher Center for real estate and Urban Economics.  Several challenges face the housing market that will prevent a boom from taking shape, particularly from tight lending conditions that have prompted the recovery to be marked by slow growth rather than rapid growth, Rosen noted at a recent conference.  'The problem is not [that there is not] enough money, because the [Federal Reserve] has poured in a lot of money into the economy, ' Rosen said.  'We have too much money out there not too little money.  The problem is loan availability.'  He says that the strict credit score requirements have led to 40 percent of potential buyers unable to qualify for a loan nowadays.  'We have very strong job creation.  Private sector job creation is very good, [though] a little show in summer,' Rosen said.  'Home sales are coming back.  We have very low interest rates.'"

 

AND Colorado Springs is having a very good, turned around Residential Market in almost 2 years.

 

Once again, the most current local data is very positive....Take advantage of our Residential real estate Market to the benefit of you, your family your friends and BUY now.  You can then "pat yourself on your shoulders" shortly after your closing.

 

Give us a call to  discuss our local market and let up help you find the best deals available.  Call at 598.3200 or 800.677.6683 (MOVE).

 

 

AND MORE POSITIVES...LOCAL SALES HAVE INCREASED

 

We have been mentioning to our Readers that Colorado Springs has been experiencing a lower number of local listings for many months.  Also, local sales have increased in 14 or the past 16 months.  Yes, very positive and better than lots of cities.

 

This is an industry "big deal" as many on-line real estate sources had stories regarding such a positive October residential market trend nationwide. 

 

housing market Posts Gains - Sales of Previously Owned Homes Rose in October; Supply of Properties Shrinks  Wall Street Journal | Tuesday, November 20, 2012

"Sales of previously owned homes were stronger than expected in October, putting them on  track to hit their highest annual level since 2007..Prices are rising amid sharp declines in the number of homes listed for sale.  Just 2.14 million homes were for sale at the end of October, down 22% from one year ago to the lowest level in a decade according to NAR estimates...Another Wildcard:  Whether Congress avoids the 'fiscal cliff,' a series of tax increases and spending cuts set to kick in at year-end, which some real estate agents worry could undercut consumer confidence, potentially deferring some sales."

 

Existing-Home Sales Rise In October With Ongoing Price And Equity Gains  RisMedia | November 19, 2012

"Sales of existing homes increased in October even with some regional impact from Hurricane Sandy, while home prices continued to rise due to lower levels of inventory supply, according to the National Association of REALTORS®.  'Rising home prices have already resulted in a $760 billion growth in home equity during the past year,' [Lawrence] Yun [NAR chief economist] says.  'Given that each percentage point of price appreciation translates  into an additional $190 billion in home equity, we could see close to a $1 trillion gain next year.'...NAR President Gary Thomas says, 'Inflationary pressures are expected to build during the next two years.  As a result, mortgage interest rates will also rise with inflation.  Buyers who are currently held back by tight mortgage credit standards should work to improve their credit scores so they'll be able to qualify for a mortgage while conditions are still favorable.'"

 

NAR Existing Home Sales Increase 2.1% In October  HousingWire | Monday, November 19, 2012

"Thanks to hurricane Sandy's impact on the East Coast and the increase in home prices due to a lack of inventory supply October saw an increase in existing-home sales...'Home sales continue to trend up and most October transaction were completed by the time the storm hit, but the growing demand with limited inventory is pressuring homes prices in much of the country,' said Lawrence Yun, chief economist with NAR....Homes continue to spend less time on the market, with the median listing now running 71 days, down from 96 days in October of 2011."

 

Strong Sales And Tight Inventory Boost Homes Prices  Inman News | Monday, November 19, 2012

"A combination of rising sales and the lowest inventory in six years helped existing-home prices post annual gains for the eight month in a row in October, the National Association of Realtors said today."

 

 

WE'RE HERE TO SERVE ALL YOUR real estate NEEDS

We’ve been keeping you up to date on a weekly basis concerning the Colorado Springs market and want to remind you that if you are looking….the time is NOW. There are going to be fewer choices in the coming months and prices are sure to be higher. And with mortgage rates at an all time low, you can’t afford to wait. If you are looking to buy, sell, trade up, or simply looking for investment property, give us at call at 598.3200 or  800.677.6683 (MOVE), and we will get right on it.

And if you know of anyone who wishes to buy or sell local real estate, or who is planning a move to the Pikes Peak region, remember—I’ve got more than 40 years of experience in providing relocation and Real Estate services to clients throughout the world. I am uniquely qualified to assist them in making the best decision for their individual wants and needs and always take that into consideration when negotiating on their behalf.  Have them contact me at Harry@HarrySalzman.com, and I will be happy to add them to our eNewsletter list, or better still, send me a note with their email address, and I will take care of it right away.

FEATURED LISTING

Image Unavailable

3696 Haven CR

Price: $149,900

Beds: 3

Baths: 2

Sq Ft: 1546

Corner lot, Brand new Full Kitchen, cabinets, counters, all appliances. Total interior has NEW carpets and linoleum floors, paint. Master Bedroom has a walk in closet with built in shelves.Upper level Bath has door from both hallway and master bedro...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

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HARRY'S WEEKLY UPDATE

Monday, November 26, 2012
by Harry Salzman

 

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HARRY’S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

Surprise, it's already Monday AGAIN!!  Hope everyone enjoyed their holiday with friends, family and TURKEY.  Last week's update went out and we found that many of our readers started their holidays quite early, so...we decided to share last week's information with you again. Of course , we always want all of our readers to be kept up to date on all the latest real estate news. So for the really fresh stuff come by our office or just give us a call. Enjoy.

HERE ARE SOME FORCASTED STATISTICS FROM THE 2012 NATIONAL REALTORS CONFERENCE AND EXPO

            RISMedia, DSNews.com, Realtor Magazine, 11.12.12

 

  • The housing market recovery should continue through the coming years, assuming there are no more limitations on the availability of mortgage credit.

 

  • According to Lawrence Yun, chief economist of the National Associate of Realtors, “Existing-home sales, new-home sales, and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years and all of the major home price measures are showing sustained increases.”

 

  • Yun also sees no signs of increased inflation in 2013 but predicts it to be in the 4-6 percent range by 2015 due to the federal budget deficit likely pushing up borrowing costs and raising inflation well above 2 percent.

 

  • Inflationary pressures are being raised due to rising rents, qualitative easing (the printing of money), federal spending outpacing revenue, and a national debt which is roughly equal to 10 percent of Gross Domestic Product.

 

  • Mortgage interest rates are forecast to rise gradually and should average 4.0 percent next year and 4.6 percent by 2014 due to the inflationary pressure.

 

  • Meaningful higher home prices are predicted by Yun. This is due to rising demand and an ongoing decline in housing inventory.  The national median existing-home price should rise 6.0 percent to $176,100 for all of 2012 and increase another 5.1 percent next year to $185,200.  He forecasts comparable gains in 2014.

 

  • Yun said, “real estate will be a hedge against inflation, with values rising 15 percent cumulatively over the next three years, also meaning there will be fewer upside-down owners.  Today is a perfect opportunity for moderate-income renters to become successful home owners, but stringent mortgage credit conditions are holding them back.”

 

  • Home sales and construction depend on steady job growth which we are seeing, but  we have thus far only regained half of what was lost during the recession. 

 

  • Yun indicated that four years from now there will be a much greater disparity in wealth distribution.  “People who purchased homes at low prices in the past couple years, including many inventors, can expect healthy growth in home equity over the next four years, while renters who were unable to get into the market will be in a weaker position because they are unable to accumulate wealth,” he said.  “Not only will renters miss out on the price gains, but they’ll also face rents rising at faster rates.”

 

For those of you who have been reading my eNewsletters, this is not anything new.  I’ve been telling you for some time that this is happening and sitting and “waiting it out” isn’t an option anymore for those who are looking to buy, either first homes, moving-up homes or simply for investment.  Prices are on the rise, rental rates are up and continuing to go up and mortgage rates won’t be this low for much longer.  Need I say more?  Give me a call at 598.3200 and let’s discuss how you can benefit from the above statistics.  It’s my job to help all my clients be in top tiers of that wealth disparity that Yun is talking about.

 

 


THIS WEEK I'M GIVING THANKS FOR YOU

 

As Thanksgiving approaches, I'm aware of the many things for which I have to be thankful.  And right at the top of that list is you-- my friends, clients and readers--new and old--who have let me into your life and have shared so much with me.  I have developed long term relationships with many of you and find myself now working with your family members to help them in the same manner in which I have always tried to help you.  I am thankful for your support and friendship and look forward to continue working with you and your family for many years to come.

 

I wish all of you a very Happy Thanksgiving.

 

 

WE’RE HERE TO SERVE ALL YOUR real estate NEEDS

 

Whether you’re considering buying, selling, investing or simply need help in making an informed decision about what fits your individual housing or investment needs, we’re here to help.  Just give us a call at 598.3200 or 800.677.MOVE (6683) today.

 

And if you have a friend, family member or co-worker who wishes to buy or sell local real estate, or who is planning a move to the Pikes Peak region, remember—I’ve got more than 40 years of experience in providing relocation and Real Estate services to clients throughout the world.  I am uniquely qualified to assist them in making the best decision for their individual wants and needs and always take that into consideration when negotiating on their behalf.  Have them contact me at Harry@HarrySalzman.com and I will be happy to add them to our eNewsletter list, or better still, send me a note with their email address and I will take care of it right away.

 

 

JOKE OF THE WEEK

 

There was once a young man who, in his youth, professed a desire to become a “great” writer.  When asked to define “great” he said “I want to write stuff that the whole world will read, stuff that people will react to on a truly emotional level, stuff that will make them scream, cry, wail, howl in pain, desperation and anger!”

 

He now works for Microsoft writing error messages.

 

 

FEATURED LISTING


 

Image Unavailable

44 Misty Creek DR

Price: $249,900

Beds: 4

Baths: 4

Sq Ft: 2641

Wonderful 2-Story w/Pikes Peak Views on Cul-de-Sac* Home can be Main Level Living* Tons of charm & upgrades*Open, light & airy* 4BD, 4BA, 2 Car* Professionally finished basement* ML Master Bedroom w/ceiling fan, walk-in closet* 2 BA's, Laundry* Kitc...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

Stationery Footer
 

Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

Logo
Visit http://www.SalzmanRealEstateServices.com

Add Comment

HARRY'S WEEKLY UPDATE

Monday, November 19, 2012
by Harry Salzman

 

 

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November 19, 2012

 

HARRY’S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

 

 

HERE ARE SOME FORCASTED STATISTICS FROM THE 2012 NATIONAL REALTORS CONFERENCE AND EXPO

            RISMedia, DSNews.com, Realtor Magazine, 11.12.12

 

  • The housing market recovery should continue through the coming years, assuming there are no more limitations on the availability of mortgage credit.

 

  • According to Lawrence Yun, chief economist of the National Associate of Realtors, “Existing-home sales, new-home sales, and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years and all of the major home price measures are showing sustained increases.”

 

  • Yun also sees no signs of increased inflation in 2013 but predicts it to be in the 4-6 percent range by 2015 due to the federal budget deficit likely pushing up borrowing costs and raising inflation well above 2 percent.

 

  • Inflationary pressures are being raised due to rising rents, qualitative easing (the printing of money), federal spending outpacing revenue, and a national debt which is roughly equal to 10 percent of Gross Domestic Product.

 

  • Mortgage interest rates are forecast to rise gradually and should average 4.0 percent next year and 4.6 percent by 2014 due to the inflationary pressure.

 

  • Meaningful higher home prices are predicted by Yun. This is due to rising demand and an ongoing decline in housing inventory.  The national median existing-home price should rise 6.0 percent to $176,100 for all of 2012 and increase another 5.1 percent next year to $185,200.  He forecasts comparable gains in 2014.

 

  • Yun said, “real estate will be a hedge against inflation, with values rising 15 percent cumulatively over the next three years, also meaning there will be fewer upside-down owners.  Today is a perfect opportunity for moderate-income renters to become successful home owners, but stringent mortgage credit conditions are holding them back.”

 

  • Home sales and construction depend on steady job growth which we are seeing, but  we have thus far only regained half of what was lost during the recession. 

 

  • Yun indicated that four years from now there will be a much greater disparity in wealth distribution.  “People who purchased homes at low prices in the past couple years, including many inventors, can expect healthy growth in home equity over the next four years, while renters who were unable to get into the market will be in a weaker position because they are unable to accumulate wealth,” he said.  “Not only will renters miss out on the price gains, but they’ll also face rents rising at faster rates.”

 

For those of you who have been reading my eNewsletters, this is not anything new.  I’ve been telling you for some time that this is happening and sitting and “waiting it out” isn’t an option anymore for those who are looking to buy, either first homes, moving-up homes or simply for investment.  Prices are on the rise, rental rates are up and continuing to go up and mortgage rates won’t be this low for much longer.  Need I say more?  Give me a call at 598.3200 and let’s discuss how you can benefit from the above statistics.  It’s my job to help all my clients be in top tiers of that wealth disparity that Yun is talking about.

 

 


THIS WEEK I'M GIVING THANKS FOR YOU

 

As Thanksgiving approaches, I'm aware of the many things for which I have to be thankful.  And right at the top of that list is you-- my friends, clients and readers--new and old--who have let me into your life and have shared so much with me.  I have developed long term relationships with many of you and find myself now working with your family members to help them in the same manner in which I have always tried to help you.  I am thankful for your support and friendship and look forward to continue working with you and your family for many years to come.

 

I wish all of you a very Happy Thanksgiving.

 

 

WE’RE HERE TO SERVE ALL YOUR real estate NEEDS

 

Whether you’re considering buying, selling, investing or simply need help in making an informed decision about what fits your individual housing or investment needs, we’re here to help.  Just give us a call at 598.3200 or 800.677.MOVE (6683) today.

 

And if you have a friend, family member or co-worker who wishes to buy or sell local real estate, or who is planning a move to the Pikes Peak region, remember—I’ve got more than 40 years of experience in providing relocation and Real Estate services to clients throughout the world.  I am uniquely qualified to assist them in making the best decision for their individual wants and needs and always take that into consideration when negotiating on their behalf.  Have them contact me at Harry@HarrySalzman.com and I will be happy to add them to our eNewsletter list, or better still, send me a note with their email address and I will take care of it right away.

 

 

JOKE OF THE WEEK

 

There was once a young man who, in his youth, professed a desire to become a “great” writer.  When asked to define “great” he said “I want to write stuff that the whole world will read, stuff that people will react to on a truly emotional level, stuff that will make them scream, cry, wail, howl in pain, desperation and anger!”

 

He now works for Microsoft writing error messages.

 

 

FEATURED LISTING


 

Image Unavailable

3696 Haven CR

Price: $149,900

Beds: 3

Baths: 2

Sq Ft: 1546

Corner lot, Brand new Full Kitchen, cabinets, counters, all appliances. Total interior has NEW carpets and linoleum floors, paint. Master Bedroom has a walk in closet with built in shelves.Upper level Bath has door from both hallway and master bedro...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

Stationery Footer
 

Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

Logo
Visit http://www.SalzmanRealEstateServices.com

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HARRY'S WEEKLY UPDATE

Monday, November 12, 2012
by Harry Salzman

 

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November 12, 2012

 

HARRY’S WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

 

ON VETERANS DAY….LET US ALL BE THANKFUL

 

I would be remiss if I didn’t start by paying my respects to Veterans and those currently in the military.  Living in Colorado Springs among a big military presence, I am reminded every day of the debt we all owe to the men and women who have served and continue to serve our Country. 

I have many friends and clients among them, and to all of you I want to say….Thanks.  It’s because of you that all the rest of us can go to sleep at night and go about our day without the worries so many people in the rest of the world experience.  It is because of you we can have a Presidential election peacefully, and power can change hands without bloodshed.

 

So, while I am aware of this on a daily basis, Veterans Day gives me the opportunity to publically say again….Thank You.

 

 

3RD QUARTER METRO AREA STATISTICS SHOW STRONG INCREASES, SALES UP

 

The just published “Median Sales Price of Existing Single-Family Homes for Metropolitan Areas” from the National Association of Realtors (NAR) has great news all around. As always, we track  comparison of the Colorado Springs metropolitan area against the other 148 metro areas in the survey.  This information is so important that many other publications provide their take on it.  I will share some of that in a minute.  This most important hightlights are:

 

  • Median home prices across the USA are 7.6% higher than a year ago
  • Colorado Springs Metro Area is up 6.4%--a major gain for our area as I will explain further on

 

Lawrence Yun, NAR chief economist has said the growth in home prices gets down to supply and demand.  “Housing inventories have been gradually trending down from a record set in the summer of 2007, and earlier this year a broad equilibrium began to develop in most areas between the home buyers and sellers, which led to a sustained upturn in home prices.  We expect fairly normal appreciation patterns in 2013, but there is a risk of price acceleration if builders are unable to increase supply to meet the needs of our growing population and household formation.”

 

Nationally, the median exisiting single-family home price was $186,100—up 7.6% from $173,000 a year ago.  This is the strongest year-over-year increase since first quarter 2006 when the median price rose 9.4%. 

 

NAR President Moe Veissi of Miami said affordability conditions are a big factor in rising sales.  “Historically low mortgage interest rates are encouraging many buyers who were on the sidelines,” he said.  “Sales this year are notably higher than the levels seen in 2008 through 2011, so we’re clearly in a recovery phase with rising sales, declining inventory and rising prices.  Of course, the recovery would be stronger and more stable if we could return to safe but sensible mortgage underwriting standards.”

 

The Wall Street Journal  wrote last Thursday that this survey is the “latest evidence that the real-estate recovery is gaining momentum and breadth…All told, low home prices, rising rents and a slowly improving economy have given more Americans the motivation and confidence to become homeowners.  About 72% of respondents said it was a good time to buy a home, according to a monthly survey Fannie Mae issued Wednesday.”  They went on to say that “while many consumers expect home prices to rise only modestly over the next year, they believe rental rates will continue to climb, further motivating them to buy.”

 

Click here to view the survey in its entirety. 

 

Now about Colorado Springs…..as I’ve told you in the past, our Metro area has never been among the highest appreciating cities, nor one of the cities that was considered “upside down negative” during my 40 years in this business.

 

Locally, the long term appreciation has been almost 6.0% per year.  The current median sales price of existing single-family homes for Colorado Springs is 6.4% compared to a year ago, a percentage derived through all MLS sales during that 12 month period in our area.  Our median price is now $206,100, up from $193,700 at the end of 3rd quarter last year.

 

A good reason that the national median price gain is above our local one is that most metro areas in the survey had a much lower price drop in the past few years than we did.  Therefore, the gain we see from our traditional one is a good sign that we are doing better than normal in single-family sales.

 

Again, folks, look at the trend and remember what I’ve been telling you….there is no better time than now if you are in the market for a single family home, whether to live in or for investment purposes.  Call me at 598.3200 and let’s talk about your options before prices and interest rates start climbing higher.

 

 

HERE’S A BRAND NEW JUSTIFICATION TO BUY A HOME TODAY

 

We don’t believe you’ve heard this one yet, but The Wall Street Journal has been writing that:

 

  • Investors are more optimistic about the housing sector than about the broader economy, remaining bullish on home builders
  • Stock market prices of home builders have surged
  • Optimists say they believe the US housing recovery is still in it’s initial phase, leaving plenty of room for those stocks to keep rising
  • New home sales jumped 5.7% in September
  • Prices of new homes are always higher than re-sale homes.  More people are buying new homes today since the years 2006-2007.

 

The Dow Jones U.S. Home construction Index is up 80.3% as of October 26, 2012 from January 1, 2012.  The Standard and Poor over the same time of almost ten months increased 12.3%.  Therefore, shares of public companies in the home building industry performed higher than 500 companies in S&P by almost 7 times better in 2012.

 

Since public investors are stating loudly that “Now is the Time” that more buyers are purchasing a home, heed their advice (and ours) and take a closer look at today’s real estate market from your personal perspective. 

 

Call us to compare your options of buying a home today vs. other investments you could make (i.e. mutual funds, stocks, bonds, etc.).  As always, we suggest you check with your personal accountant in addition to talking with us. 

 

 

RESIDENTIAL real estate SEEN AS A GREAT WAY TO BUILD WEALTH

 

In the past week, NAR has published several articles explaining why Residential real estate is again in the forefront of buyers minds when they consider funding their retirement.  A number of first time investors are looking at their purchases an a supplement to their present income while considering the possibility of increased value at the point when prices rise high enough for them to sell.

 

Reasons include:

 

  • the rental market’s strong performance and the vacancy rate dropping to a 10 year low in the 2nd quarter of this year
  • the percentage of Americans who have been waiting to buy a home because of concerns over the economy has dropped by more than half since 2010
  • low mortgage rates

 

We’ve been telling you much of this over the past year and for good reason—we don’t want you to miss out on a great opportunity to invest while the market is hot.  These opportunities won’t be around forever and if you’ve been thinking about investing, the time is NOW. 

 

 

WE’RE HERE TO SERVE ALL YOUR real estate NEEDS

 

Whether you’re considering buying, selling, investing or simply need help in making an informed decision about what fits your individual housing or investment needs, we’re here to help.  Just give us a call at 598.3200 or 800.677.MOVE (6683) today.

 

And if you have a friend, family member or co-worker who wishes to buy or sell local real estate, or who is planning a move to the Pikes Peak region, remember—I’ve got more than 40 years of experience in providing relocation and Real Estate services to clients throughout the world.  I am uniquely qualified to assist them in making the best decision for their individual wants and needs and always take that into consideration when negotiating on their behalf.  Have them contact me at Harry@HarrySalzman.com and I will be happy to add them to our eNewsletter list, or better still, send me a note with their email address and I will take care of it right away.

 

 

JOKE OF THE WEEK

 

I have been in many places, but I’ve never been in Cahoots.  Apparently, you can’t go alone.  You have to be in Cahoots with someone.

 

I’ve also never been in Cognito.  I hear no one recognizes you there.

 

I have however, been in Sane.  They don’t have an airport; you have to be driven there.  I have made several trips there, thanks to my friends, family and work.

 

I would like to go to Conclusions, but you have to jump, and I’m not too much on physical activity anymore.

 

I have also been in Doubt.  That is a sad place to go, and I try not to visit there too often.

 

I’ve been in Flexible, but only when it was very important to stand firm.

 

Sometimes I’m in Capable, and I go there more often as I’m getting older.

 

One of my favorite places to be is in Suspense.  It really gets the adrenalin flowing and pumps up the old heart.  At my age I need all the stimuli I can get.

 

And, sometimes I think I am in Vincible but life shows me I am not!

 

 

 

FEATURED LISTING


 

                                                                                   

                                   

Image Unavailable

44 Misty Creek DR

Price: $249,900

Beds: 4

Baths: 4

Sq Ft: 2641

Wonderful 2-Story w/Pikes Peak Views on Cul-de-Sac* Home can be Main Level Living* Tons of charm & upgrades*Open, light & airy* 4BD, 4BA, 2 Car* Professionally finished basement* ML Master Bedroom w/ceiling fan, walk-in closet* 2 BA's, Laundry* Kitc...

View this property >>

 

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

email: Harry@HarrySalzman.com

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs 

 

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Harry A Salzman
ERA Shields / Salzman Real Estate Services
6385 Corporate Drive, Suite 301
Colorado Springs CO 80919
719-593-1000
Cell: 719-231-1285
Fax: 719-548-9357
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