January 16, 2012



The Pikes Peak Association of Realtors has just released the 2011 Sales and Listing statistics for the Pikes Peak area. Here are some of the more significant statistics contained in this year-end PPAR report:

• The total number of single-family home sales in 2011 was up 3.3% over 2010 (8459 vs. 8185)
• The number of home sales in December of 2011 (651) were 3.5% higher than December of 2010
• 2011 was the sixth-straight year of year-over-year increases in sales
• The average sales price for a home in 2011 was 4.9% less than in 2010 ($217,829 vs. $229,152)
• Our “For Sale” inventory as of Dec.31, 2011 was 24.1% less than it was in 2010 (3285 vs. 4327)
• In December of 2011, the typical local home sold for 97.5% of the Sellers’s listing price.

One big reason for the reduction in inventory is probably that many Sellers have removed their homes from the market, either because they were not highly motivated to sell, or, because they were not willing to list their homes at a realistic price.

The current 2.5% difference between listing prices and sales prices indicates that today’s Sellers are being more realistic about their expectations. Because “All real estate Is Local” you would be wise to consult with a qualified Realtor who has experience in your specific neighborhood, before you list your home. We would be happy to assist you with that task.

If you would like to find out what a realistic selling price for your home would be in today’s market, just give us a call. We would be happy to discuss a realistic price for your current home, for your next home, or for an investment property. Call us at 598-3200, or, 800-677-6683 (MOVE). There are a lot of excellent deals out there right now.!!!

All-in-all, the year-end numbers give us reason to believe that 2012 will be a better year for real estate than 2011 was. The statistics and the experts agree that 2012 should show a modest rise in sales and prices (probably around .2% in 2012 and .3-.4% in 2013).

To see a complete copy of the PPAR Sales and Listing statistics for December, 2011, CLICK HERE



Realtor Magazine (Jan. 11, 2012) tells us that, because of falling home prices and record-low mortgage rates, home affordability is at 1971 levels, according to the U.S. Department of Housing and Urban Development.

Home owners are bringing in nearly double the median income they need to cover the cost of an average home, HousingPredictor reports.

Bob Nielsen, chairman of the National Association of Home Builders, said, “With interest rate at historically low levels and markets across the country beginning to improve, home ownership is within the reach of more households”.

As a result of these factors, home sales have been ticking up, according to the National Association of Realtors.

Some of the other signs that things are getting better;

• Clear Capital says home prices in 2012 will go up slightly (0.2%). This will represent the first rise since 2006 and will put national home prices near levels not seen since 2001. Half of the 50 major metro markets included in the ClearCapital annual survey are expected to post gains for the year.
• Foreclosures across the U.S. decreased 34% in 2011, according to RisMedia. In fact, December activity hit a 49 month low, even though scheduled auctions were up in the fourth quarter.

And don’t forget, another positive factor to consider as you make your decision about buying that new home is the deductibility of your mortgage interest payments. As an example, if you are in a 28% tax bracket and your mortgage interest rate is 3.75%, your mortgage interest deduction would effectively reduce your mortgage-interest expense to 2.75% out of your pocket. That really makes home ownership a realistic possibility for many people.

Also, as you consider buying that new home, you might consider is a 15 year mortgage, rather than the traditional 30 year mortgage. Depending upon your circumstances, the 15 year mortgage can cut your mortgage interest rate even further. Here again, we will be happy to explain all of your options and the tax advantages that are available to you.

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



Some of the ‘extras’ that Sellers are now using to ‘sweeten the deal’ are:

• Reducing prices
• Paying closing costs
• Making deferred repairs
• Buying home warranties
• Paying originations fees or points

Sellers are also using ‘staging’ to make their homes more appealing to prospective Buyers.

Give us a call to discuss how we might market your home to make it a more appealing prospect for Buyers.



Here are some interesting results from the recent Fannie Mae national housing survey :

• Most respondents believe home prices will edge up at least 0.8% in 2012.
• 40% expect their financial situations to improve in 2012
• More than 20% said their incomes are significantly higher than they were a year ago

Fannie Mae chief economist Doug Duncan summarized the survey results by saying, “There is marked improvement in consumer sentiment regarding the direction of the economy, personal finances and future home price expectations”.

Ironically, “This increase in optimistic Americans is tempered by overall consumer attitudes that remain at depressed levels with more than two-thirds of those interviewed saying the economy is heading down the wrong track”.

So, what’s the bottom line? You tell me!!!



Freddie Mac recently released the results of its Primary Mortgage Market Survey, showing mortgage rates easing to new all-time record lows. The average for the 30-year fixed mortgage rate has been below 4% for six consecutive weeks.

At the same time, the FHA’s cash reserves have shrunk and that agency may have to seek a capital infusion from the taxpayers, if the housing slump continues, according to Bloomberg BusinessWeek. (Jan. 15, 2012).

If the government does end up giving FHA additional funds, then we can expect mortgage rates to rise, which would negatively affect he entire housing market.

Bottom Line: If you are thinking of buying a home, you had better buy now, before rates start going up.


On Thursday, the Barriers to Business committee brought its first set of recommendations to the El Paso County commissioners, who unanimously approved them. The vote reduces the number of commercial and industrial zones in unincorporated areas of the county from five to three, and axes a five-year limit on special uses and variances.

The changes give businesses more opportunity to go into areas where they might not have been allowed before, and lessens the need for special hearings, application fees and a whole lot of forms.

Commission chair Amy Lathen said, “It’s more common sense and it eliminates time, paperwork and cost. It gives businesses more opportunity, but does it while preserving the master plan of the area”.

Bottom line: To us, it sounds like a step forward in attracting more businesses to our area. Good work, guys!!



In a “State of Education” luncheon on Wednesday, Dave Csintyan, president and CEO of the Greater Colorado Springs Chamber of Commerce, said the business community needs to partner with public schools to ensure a well-trained future workforce. “Our newly merged organization has to be thematically relevant and part of that should be education” he stated.

Csintyan said he realized the importance of the business community’s input when he recently encountered a young store clerk who couldn’t figure out how to make change for an $18.16 purchase from a $20 bill.

Dr. Nicholas Gledich, Colorado Springs School District 11 superintendent, said he welcomes the business community involvement in the schools. The economic benefits to the business community of graduating 100% of the student body equal millions of dollars, he stated. In Colorado Springs, 2,000 students dropped out of the class of 2010, he said. If half of those graduated they would have contributed $11 million to the economy.

Sounds like all of us would benefit if the Chamber could help our school districts improve their graduation rates.

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, 800 877-MOVE (6683).


"Do you believe in life after death?" the boss asked one of his employees.
"Yes, sir," the clerk replied.
"That's good," the boss said. "After you left early yesterday to go to your grandmother's funeral, she stopped in to see you."