May 29, 2012

HURRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET


IF YOU ARE WONDERING WHETHER COLORADO SPRINGS IS A GOOD housing market,
JUST LOOK AT THIS !!!

The following article just appeared in Realtor Magazine …Need we say more ???

10 METROS WHERE LIST PRICES ARE RISING THE MOST
Daily real estate News | Tuesday, May 29, 2012

Prices of for-sale homes are on the rise in several metro areas. According to Realtor.com, which tracks 146 metro markets, the following areas have seen their median list prices increase the most from March to April:
Price increase Median list price

1. Minneapolis-St. Paul, Minn.-Wis. 7.90 percent $199,500
2. Santa Barbara-Santa Maria-Lompoc, Calif. 7.07 percent $545,000
3. Detroit, MI 4.66 percent $89,900
4. San Francisco, CA 4.62 percent $679,000
5. Seattle-Bellevue-Everett, Wash. 4.46 percent $328,950
6. Boise City, Idaho 4.40 percent $162,374
7. Trenton, N.J. 4.26 percent $259,450
8. Boulder-Longmont, Colo. 4.20 percent $375,000
9. Orange County, Calif. 4.19 percent $448,000
10. Colorado Springs, Colo. 4.09 percent $229,000

Hey, Folks. We’re in the big leagues. These increases show the strongest gains in 6 years and are a good indication that Fred Crowley, chief economist for the Southern Colorado Economic Forum, was correct when he stated, “ The bottom of the real estate market in El Paso County took place 16 months ago”.. It’s a positive sign that housing prices are continuing to rise.

Call us at 598-3200, or, 800 677-6683 (MOVE), to discuss what this could mean to you.


CONCERNED ABOUT YOUR RETIREMENT INCOME? ….MAYBE IT’S TIME TO THINK OUT OF THE BOX !!!

It’s common for people approaching retirement to have some concerns about their post-retirement income. What with the stock market riding the roller-coaster and Inflation beginning to kick in at a frightening rate, you probably have a lot of doubts about your traditional investment strategies.

Perhaps you should consider using your present good credit standing to set yourself up with an investment that will add to your income for the next 30 years … and also add to the value of your estate. ……Perhaps you should consider acquiring an investment property.

Let’s assume that you are now living in a nice home, with a mortgage that is mostly paid-off, but has an old interest rate that is too high, compared with today’s rates. Here is what many smart investors are now doing.

First, re-finance your present mortgage at today’s lowest-ever interest rates. Your reduction in monthly expense will be considerable.

Next, continue to live in your present home for at least four months. This will enable you to rent out your home and still be eligible for another home loan.

Then, rent out your present home. That will not be a problem in today’s market. Vacancy rates are extremely low because many people who used to be homeowners are now renters…and will likely be renters for many years to come. Your rental income should more than offset your expenses, so you will have added even more dollars to your monthly income.

Finally, buy that upgraded home you have had your eye on for a long time.

The bottom line: If you decide to pursue this opportunity,

• You will have more monthly income ….
• Your mortgage payments on both homes will be locked in at the lowest rate in history….
• You will be living in a nicer home …
• The value of your estate will grow every month ….

Is this idea out of the box? It sure is …..in the tradition of Bill gates and Steve Jobs.

Give us a call to discuss the numbers, at 598-3200, or, 800 677-6683 (MOVE).


THE SECRET TO GETTING A LOAN IN TODAY’S MARKET
The Wall Street Journal – Sat.-Sun. May 26-27, 2012

The reason current mortgage loan rates are so low right now is that lenders have a lot of money available to lend, but there are too few qualifying borrowers.

The reason there are too few qualifying borrowers is that lending requirements are very tight right now.

So, according to the Wall Street Journal, the secret to getting loans is to:

• shift assets to your mortgage lender
• clean up your credit
• understand the new government programs

“The reward in the end is substantial, provided you can survive the process.”. says Keith Gombinger, a vice-president at mortgage-data provider HSH.com.

The steps involved in getting that home loan, according to WSK, are:

1. Repair your credit. Borrowers with good credit scores of 740 or more generally get the best rates.
2. Shorten the loan term. If you are several years into your mortgage, you can maximize your savings by opting for a new loan with a shorter term.
3. Contact many different lenders. This is good advice for the people who are attempting to find their own way through the maze of local lenders, but, we can be of great assistance to you in simplifying this process. Our 39 years of experience with local lenders allows us to know who has money to lend. (Surprise, surprise, …not all lenders have money to lend when you walk in the door.) We know which lenders can be flexible and which ones can’t.
4. Relationships can make the difference. Unfortunately, the old saying is still very true in obtaining a loan…”It’s not what you know, but who you know” ..and we know the lenders that can help you the most.

Give us a call at 598-3200, or, 800 677-6683 (MOVE).

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Call us at 598-3200, or, 800 677-MOVE (6683).


LATEST STATISTICS

Click here for the latest Sales and Listing statistics for the Pikes Peak area. These statistics will enable you to see what prices homes in every neighborhood are selling for and how much local Sellers are asking for their homes. These are the numbers that your Realtor will use in developing ‘comparables” when you ask him/her for a recommended listing price for your home. However, there are a lot of variables that will affect the asking price for your home. We will be happy to work with you to develop a specific, realistic listing price for your home. Please give us at 598-3200, or, 800 677-6683 (MOVE),


DON’T MISS THIS OPPORTUNITY TO LOOK OVER THE LATEST “QUE”.

As we discussed in our last week’s update, the latest SCOFF Quarterly Update of the economic conditions in the Pikes Peak area is now available. These statistics make it clear that the Pikes Peak area is in good economic condition, especially when compared to other national metropolitan areas. CLICK HERE to examine this very informative report.

 

JOKE OF THE WEEK

Here’s one you might be able to identify with:

Several days ago as I left a meeting at a hotel, I desperately gave myself a personal TSAR pat down. I was looking for my keys. They were not in my pockets. A quick search in the meeting room revealed nothing.

Suddenly I realized I must have left them in the car. Frantically, I headed for the parking lot. My wife has scolded me many times for leaving the keys in the ignition. My theory is the ignition is the best place not to lose them. Her theory is that the car will be stolen.

As I burst through the door, I came to a terrifying conclusion. Her theory was right. The parking lot was empty.

I immediately called the police. I gave them my location, confessed that I had left my keys in the car, and that it had been stolen.

Then I made the most difficult call of all, "Honey," I stammered; I always call her "honey" in times like these. "I left my keys in the car, and it has been stolen."

There was a period of silence. I thought the call had been dropped, but then I heard her voice. "Idiot", she barked, "I dropped you off!"

Now it was my time to be silent. Embarrassed, I said, "Well, come and get me."

She retorted, "I will, as soon as I convince this policeman I have not stolen your car."

Yep it's the golden years.