April 16, 2012


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


LET’S GET TOGETHER THIS WEEKEND.!!!!

As you may have read in the Gazette, this weekend is National Open House Weekend. As our contribution to the event, we will be holding two open houses …On Saturday the 28th, we will be at 2620 Tamara Way (In Mountain Shadows). This magnificent hillside home features 6 bedrooms and 5 bathrooms. See our “Featured Listing” section, below for complete details of this gorgeous home.

On Sunday the 29th, we will be at 5062 Farris Creek Court, in Cordera. (That’s near Powers and Briargate Parkway, in the Northeast end of town). This beautiful Ranch Home features 5 bedrooms, 3 bathrooms and a finished basement. We are also featuring this listing, below.

We hope you come by to say “Hello” on Saturday or Sunday. This is a great opportunity for us to meet some new friends, to catch up on what’s new with some of our long-time friends and to show you a couple of beautiful homes that are now available at wonderful prices, and …if that’s not enough, You will be able to Register to win some prizes (The Grand Prize is $500 cash).

We will be at the open houses from 1pm to 4pm and we really look forward to seeing you this weekend.


LOCAL SALES TAX REVENUE IS UP IN FIRST 2 MONTHS OF 2012
Colorado Springs Business Journal. April 11th, 2012

Colorado Springs sales-and-use tax collections are up in the first two months of 2012, higher than the first two months of 2011.

Overall, collections are 6.9 percent higher than at this time last year, according to the collections report released by the city Tuesday.

In February, the city reported that sales and use tax was $8.6 million, or 6 percent more than the same month in 2011. In March, collections are $9 million, or 10 percent higher than in the previous year.

According to the report, Restaurants are up 11 percent, auto dealers are up 12 percent and grocery stores are up 10 percent.

This is a good sign that consumer confidence is growing and the economy is going in the right direction.


MORE GOOD NEWS FOR BUYERS …BANK OF AMERICA IS STREAMLINING ITS SHORT-SALE PROCEDURES
By Inman News, Tuesday, April 10, 2012.

Bank of America says it's making changes to its short-sale procedures that will shorten decision times on short sale offers to 20 days, down from 45 days or longer.

The new task flow in Bank of America's short-sale management platform, Equator, will enable short-sale specialists to conduct tasks like document collection, valuations and underwriting simultaneously. Agents will have five days instead of 14 days to submit a backup offer.

If any of our readers have experienced the frustration of waiting for Short-Sale offers to be considered, they will be relieved to hear this good news.

Give us a call to see if this new B of A process might be of help to you in making an offer on a short-sale property.

Call us at 598-3200, or, 800 677-6683 (MOVE).

 

IS THIS A GOOD TIME TO BUY real estate? AIG SAYS IT IS.
The Wall Street Journal Wednesday, April 11, 2012

American Investment Group (AIG) has repaid the government most of its $182.3 billion federal bailout and is now planning to jump back into U.S. property investing, reversing its yearslong effort to downsize its real estate business.

This decision demonstrates that the “big guys” are convinced that real estate is now on the way up and will pay-off big in the future.

In fact, as Daily real estate News reports(Wednesday, April 11, 2012), more home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon.

Housing surveys in recent weeks have shown that more Americans are seeing now a great time to purchase a home. In the most recent survey, 73 percent of Americans say now is a good time to buy, according to the latest Fannie Mae Housing Survey conducted in March. That’s up from 70 percent in February who said it was a great time to buy.

"Conditions are coming together to encourage people to want to buy homes," says Doug Duncan, Fannie Mae’s chief economist. "With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice."

Indeed, more buyer urgency is evident in the market. Thirty-three percent of those surveyed by Fannie say they expect home prices soon to increase, which is the highest percentage in a year. What’s more, nearly 40 percent say they expect mortgage rates to rise in the next year too, which is also up from previous surveys.

Coupled with that, 48 percent of Americans say they expect rents to continue to climb, and 44 percent say they expect their financial situation to improve in the next year.

We agree, and we urge our readers to seriously consider buying their new homes right now, while prices are still low, mortgage rates are still low, inventories are still high and inflation has not yet kicked in.

 

HOUSING CRUNCH COMING TO OLDER AMERICANS
Daily real estate News | Monday, April 09, 2012

By 2050, the population of Americans 65 and older will more than double and is expected to grow at a faster rate than any other age group, according to U.S. Census data. By that time, one in five Americans will be over the age of 65, and a new report says that growing population will likely face increasing difficulty in finding suitable housing to meet their needs.

The report from the Center for Housing Policy (“Housing an Aging Population — Are We Prepared?”) warns a severe housing cost burden is looming for the country as the older adult population soars.

Older adults are more likely than younger adults to spend more than half their income on housing, the study found. Home owners who are 65 and older are more likely than younger households to have their mortgages paid off, but other housing-related costs continue to bite into their more limited incomes. Property taxes, home maintenance, and utility costs continue to be a burden to even mortgage-free home owners, the study says.

“As the older population grows, meeting the housing needs of older adults is certain to become a significant challenge across the nation,” says Rodney Harrell, a policy adviser at AARP’s Public Policy Institute. “States and communities need to effectively respond by adopting policies that ensure adequate, affordable housing for people of all ages.”

The report calls for a variety of housing to meet the needs of older adults, including a growth in assisted-living residences, continuing care retirement communities, and congregate housing. The authors also urge for the availability of housing grants and loans to assist with modifying a current home so older adults can age-in-place as well as property tax abatement or housing voucher programs to help alleviate housing costs.

Speaking as one of the “Older Americans” myself, I can sympathize with our older clients who have special housing needs and I would be happy to lend my 39 years of real estate expertise to assist them in their search for housing, or for assistance with listing their present homes.

Us “Old Timers” have to stick together !!! Call me at 598-3200, or, 800 677-6683 (MOVE).


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, IF ALL OF THIS IS NOT ENOUGH EXCITEMENT FOR YOU, KEEP IN MIND THAT IT’S JUST TWO MORE DAYS UNTIL THE BIG CELEBRATION – TAX FREEDOM DAY !!!

On April 17th, we can all celebrate Tax Freedom Day. That’s the day of the year when we can start working for ourselves, rather than for the government. Up until April 17th, everything we have made during 2012 has gone for taxes. YIPPEE!

 

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

This is the story of the GHL (Green Haired Lady) flying in a two-seater airplane with just the pilot. He has a heart attack and dies. She, frantic, calls out a May Day.

"May Day! May Day! Help me! Help me! My pilot had a heart attack and is dead, and I don't know how to fly. Help me! Please help me!"

She hears a voice over the radio saying:

"This is Air Traffic Control and I hear you loud and clear. I will talk you through this and get you back on the ground. I've had a lot of experience with this kind of problem.

'Now, just take a deep breath. Everything will be fine! ……….Now give me your height and position."

She says, "I'm 5'4" and I'm in the front seat."

(Pause)
O.K." says the voice on the radio.... "Repeat after me: Our Father. Who art in Heaven..."