April 30, 2012


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


ANNUAL GOODWILL DINNER WAS A SUCCESS

Last week, we attended the annual Dinner for our local Goodwill. Over 800 people were in attendance for the event which included local political leaders, volunteers, donors, workers and a cross-section of people from our entire community. It was a wonderful evening. !!! Goodwill does a great job for our local community and we were happy to be a part of this annual celebration.

One topic that a couple of attendees wanted to kid me about was the ‘upbeat’ tone of our weekly eNewsletters. They asked me whether I really believed that the local real estate market was as good as it is described in our weekly newsletters.

My heartfelt reply was, and is, that our local market is better than the markets in almost any other metro area in the country. We didn’t feel the home-price drop as dramatically as most other areas and we bottomed out sooner than most. And now we see our local market starting to come back faster than the markets in most of the other metro centers across the country.

I can only emphasize that my enthusiasm and my ‘Buy Now’ tone is not because I’m just looking for a commission, but rather, because I am convinced the people who buy now will benefit greatly in coming years. Prices are low (but rising). Rates are low (but rising). Mortgage money is readily available to people with good credit and our community is thriving.

I urge anyone who would like to cash in on this ‘opportunity market’ to give me a call to discuss what’s happening with real estate in our community. Your home-buying decision today could easily be more valuable to you in the future than any IRA.

And that’s not just ‘optimism’ talking ….That’s an opinion based an analysis of the opportunity that our local real estate market presents to us.

Want to learn more about how to improve your family’s future financial stability through real estate? Call us at 598-3200, or, 800 677-6683 (MOVE).


IT WAS AN INTERESTING WEEKEND …. OUR ‘OPEN HOUSE’ VISITORS WERE EAGER TO BUY !!

Last weekend, we offered two Open Houses to the public. Over the course of the two days, we had the opportunity to speak with quite a few visitors and discovered that many of them are facing the same circumstances, namely, …..They’re waiting for their present home to sell, before they upgrade to their next home. Based upon their comments, we thought it might be productive to list some facts and conclusions about our present market:

• There are a lot of prospective homebuyers out there who want to buy upgraded homes as soon as their present homes close. That’s good news for the housing industry
• Most people who have had their homes on the market for a while have finally reconciled themselves to the fact that, when they do sell, the price will not be as high as they had hoped for a few years ago. However, they also recognize that, when they do buy, current prices are a real bargain. Therefore, they understand that the money they might ‘lose’ when they sell will be more than recovered when they buy
• Home prices are starting to rise, so more prospective buyers are starting to look around at what’s available and are making plans to buy sometime this year
• Foreclosures are slowing down (-11.3% in the first quarter and -24.1% year-over-year, according to the Colo. Div. of Housing). This is good news for Sellers because a lower inventory of available homes creates upward pressure on prices.
• ‘Low-ball’ offers are quickly becoming a thing of the past. The two reasons for this are that homes are now being priced more realistically and competition between buyers is growing. This is especially true here in Colorado Springs ….(Out-of-town Realtors and homeowners alike tell us they envy our local market’
• People with good credit are not having a problem getting a new mortgage …at great rates

The Bottom Line for me was that 2012 should be a great year for real estate.

 

THE BIDDING WARS FOR HOMES ARE BACK
The Wall Street Journal, April 30, 2012

A new development is catching home buyers off guard as the spring sales season gets underway: Bidding wars are back.

From California to Florida, many buyers are increasingly competing for the same house. These bidding wars are primarily the result of supply shortages, as inventories of available homes are shrinking.

We have experienced this new development in our local market. These bidding wars are confirmation that home prices are now on the rise. It’s about time. !!!

If you have been considering putting your home on the market, this ‘bidding war’ trend will affect your listing price. If you would like to discuss prices in your local neighborhood, or in any of our local neighborhoods, please call us at 598-3200, or, 800 677-6683 (MOVE).


NOT READY TO MOVE, BUT WANT TO CASH IN ON THE RISING real estate MARKET ?

In our current market, it is difficult for people who have poor credit to obtain home loans. Therefore, many of the families who have lost their homes to foreclosure or short-sale have been forced to become renters. These families are caught in a real squeeze …rents are going up, but lenders are getting tougher to deal with, so purchasing another home is not an option. These facts have expanded our pool of prospective renters and have made rental property more profitable for investors than ever.

If you would like to discuss acquiring rental property, please give us a call. The market is excellent, prices are low, mortgage rates are still very attractive, the inventory of homes is still relatively high and the pool of prospective renters has grown tremendously over the past few years. ….and rents are going up at a fast rate.

Call us at 598-3200, or, 800 677-6683 (MOVE), to discuss this wonderful opportunity to add a valuable asset to your retirement package.

 

5 WAYS TO SELL A HOME FASTER, FOR MORE MONEY
Daily real estate News, April 25, 2012

24/7 Wall St. recently asked real estate experts and several Real Estate organizations to weigh in on how sellers can get their house sold at the best price and in the shortest amount of time.

Here’s what they had to say as some of the best ways to get the “sold” sign out this spring:

1. Pay attention to “curb appeal”: First impressions are critical, and homes with inviting landscapes and exteriors tend to sell better, agents say. Pay attention that the driveway is in good condition, lawn well-kept, and the house looks freshly painted.
2. Set the right price: real estate professionals know how to set the price and prepare a home for sale. Agents use comparable sales of homes sold in the last 60 days to help set the most realistic price for the sales price of a home. By setting a realistic price from the beginning, sellers should be reminded that this will prevent having to drop the price of the home several times before getting it sold and having it linger on the market. If no recent comps are available, some experts recommended sellers get an appraisal, which will also offer a realistic price that the bank may be willing to take when a buyer tries to qualify for financing the home.
3. Talk about energy efficiency: Many buyers don’t fully understand “green” homes but they understand savings. Sellers should point out any features in their homes — such as energy-efficient windows or appliances — that could save buyers money with utility costs.
4. Give the home Web appeal: Good photographs make a home stand-out online and help lure more potential buyers to the front door. Realtor.com says that more than 6,300 photos are viewed per minute on listings posted at its site.
5. Make it: move-in ready Fix any needed repairs, such as water stains, creaky doors, and windows that don’t shut. Flaws in the home — even if relatively minor — can distract buyers, and should be fixed before the home is even listed. Some agents recommend that sellers get a home inspection prior to putting the home up for sale, which can help sellers be proactive in identifying any potential problems that could potentially derail a sale later on. Once a problem is uncovered, sellers are obligated to disclose it or fix it.

And we would like to add 1 more tip for selling your home faster, for more money ….Work with a professional Realtor who is well acquainted with the local market. The selling environment for real estate changes quickly and your Realtor should be well-aware of what’s happening in every neighborhood in your area on a daily basis.

Call us at 598-3200, or, 800 677-6683 (MOVE). We will be happy to discuss your best options.

SALES AND LISTING STATISTICS

Click here to see the most recent Sales and Listing information for the Pikes Peak area. These statistics are published by the Pikes Peak Association of Realtors and can be helpful to you in evaluating and comparing current listings in the various neighborhoods in our area. If you would like to ask any questions about this data, please give us a call at 598-3200, 0r, 800 677-6683 (MOVE).

LET US TAKE YOU OUT TO THE BALLGAME !!!

If you like baseball, here’s your chance to see the Sky Sox play FREE.

The Sky Sox baseball team is our local AAA Top Affiliate of the Colorado Rockies. And, because we are long-time supporters of our Sky Sox, we have 4 free tickets to all Sky Sox home games available to our readers. These 4 tickets are in the first row, right behind the home dugout.

If you would like to see the Sky Sox play, just give us a call ….but remember, it’s “First Come, First Served”, so you had better call now.

Call me 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).


JOKE OF THE WEEK

A guy stuck his head into a barbershop and asked, 'How long before I can get a haircut?
The barber looked around the shop full of customers and said, 'About 2 hours.'

The guy left.

A few days later, the same guy stuck his head in the door and asked, 'How long before I can get a haircut?'
The barber looked around at the shop and said, 'About 3 hours.'

The guy left.

A week later, the same guy stuck his head in the shop and asked, 'How long before I can get a haircut?
The barber looked around the shop and said, 'About an hour and a half.'

The guy left.

The barber turned to his friend and said, 'What’s this guy’s problem? Hey, Bob, do me a favor , follow him and see where he goes. He keeps asking how long he has to wait for a haircut, but he never comes back.'

A little while later, Bob returned to the shop, laughing hysterically.
The barber asked, 'So, where does he go when he leaves here?'

Bob looked up, wiped the tears from his eyes and said,

'Your house!'