Posts

Showing posts from August, 2011

Colorado Springs Ranked 4th Best Value City 2011

Image
By Kathy Kristof

Like so many Colorado Springs residents, Hayes Nash came for a visit but returned to stay. This burgeoning Western town is filled with transplants drawn by spectacular outdoor beauty, 300 days of sunshine a year, a relatively low cost of living and a vibrant business community that finds little conflict between economy and ecology. Now an eight-year native, Nash says that the cost of living is affordable here. That’s especially true, he says, “when you compare Colorado Springs with other places that have as much to offer. Besides, this place has a happy vibe.”

Many residents first landed in town because they were members of the military or attended school here. The city is home to five military bases, which employ 10% of the workforce, and more than a dozen colleges.

To keep employment rising, the city woos companies with tax incentives and its highly educated workforce (nearly 36% of residents are college grads, compared with 28% nationwide).

Colorado Springs is home…

Short Sales: Has Their Time Finally Arrived?

Image
by The KCM Crew

Last week, RealtyTrac released its Q2 2011 U.S. Foreclosure Sales Report. The report confirmed what we are hearing in the marketplace – banks are beginning to look more favorably on short sales as option to foreclosure.

The report dissected the sales of distressed properties in the second quarter of 2011. Here are several of their findings:

Sales of homes that were in some stage of foreclosure or bank owned accounted for 31 percent of all U.S. residential sales in the second quarter of 2011, down from nearly 36 percent of all sales in the first quarter.

A total of 102,407 pre-foreclosure homes (short sales) sold in the second quarter, an increase of 19 percent from the previous quarter.

A total of 162,680 REO homes (foreclosures) sold in the second quarter, virtually unchanged from the first quarter.

Short sales on average sold for a discount of 21 percent below the average sales price of non-foreclosure homes.

REOs on average sold at a discount of nearly 40 percent be…

Beautiful Move In Ready 2 Story For Sale in Colorado Springs

Image
Beautiful, Move In Ready 2 Story Home For Sale in Colorado Springs! Featuring 5 Bedrooms, 4 Bathrooms, Oversized 2 Car Garage and 3,400 + Square Feet. Tour This Home Today! Popular Classic “Vail” Floor Plan. Perfect for the Move Up Buyer, First Time Home Buyer or if you are Relocating to Colorado Springs. The Main Level Boasts a Light and Bright, Spacious Formal Living and Dining Area. The Perfectly Appointed Custom Kitchen Includes All Appliances, Ample Cabinet and Counter Space, Center Island, Granite Counters, Large Pantry and Eating Area with Walk Out to the Backyard. The Main Level Living Room is Open to the Kitchen and Eating Area with a Cozy Fireplace. Unwind in the Spacious Upper Level Master Retreat with a Walk in Closet and Luxurious 5 Piece Attached Bathroom. The Upper Level also Includes 3 Large Secondary Bedrooms and a Full Bathroom. The Full, Finished Basement Boasts Custom Finishes Throughout with Wet Bar, Fireplace and Wired for Home Theater. The Basement also includes…

The Economy: Why All the Panic?

Image
by The KCM Crew

For the last couple of weeks, all we have heard is how bad the current economic situation is. “The markets are going to crash and interest rates are going to skyrocket.” Panic has definitely engulfed the entire country.

Consumer confidence, as measured by the University of Michigan’s Consumer Sentiment Survey, has fallen to a number not seen in thirty years. This panic has actually had a negative impact on the economy.

It was said best by Mark Zandi, chief economist at Moody’s Economy:

“Confidence normally reflects economic conditions; it doesn’t shape them…

Yet at times, particularly during economic turning points, cause and effect can shift. Sentiment can be so harmed that businesses, consumers and investors freeze up, turning a gloomy outlook into a self-fulfilling prophecy. This is one of those times.”


What does the data actually show?

We decided to look at certain economic indicators and compare them to the numbers from a year ago. Here is what we found:

We are no…

Homeownership: Still the American Dream

Image
by The KCM Crew

Yesterday, Fannie Mae released their National Housing Survey for the second quarter of 2011. They survey the American public on a multitude of questions concerning today’s housing market. Each quarter, we like to pull out some of the findings we deem most interesting. Here they are for the most recent report:

Most Important Reasons to Buy a Home

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

It means having a good place to raise children and provide them with a good education

You have a physical structure where you and your family feel safe

It allows you to have more space for your family

It gives you control of what you do with your living space (renovations and updates)

The Home as an Investment

Though most people purchase a home for non-financial reasons, e…

Things to Consider Before Renting a Home You Can’t Sell?

Image
by The KCM Crew

In this difficult housing market, more and more homeowners are considering renting their house instead of adjusting the price. We strongly believe that residential real estate is a great investment and therefore can understand this thinking. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for.

Before renting your home, you should take the following steps to make sure this is the right course of action for you and your family.

Set a consultation appointment with an eviction attorney

People rent out their homes assuming that every tenant will pay the rent every month. We must realize, because of the current economy, there are millions of people not paying their mortgage. There is a chance you may rent to someone who at some point can’t (or simply won’t) pay you the rent. Understand what the legal challenges of eviction could potentially be before deciding to rent your home.

Inte…

Move In Ready Tri-Level Home For Sale in Colorado Springs

Image
Beautiful Tri-Level Home for Sale in Colorado Springs Featuring 4 Bedrooms, 3 Bathrooms, 2 Car Garage and 2,100 + Square Feet. Tour This Home Today! Perfect for the First Time Home Buyer or if you are Relocating to Colorado Springs. Quiet Location on a Large Cul-De-Sac in D-20. The Main Level Boasts a Spacious Formal Dining or Formal Living Area, Beautiful Kitchen with Hardwood Floors, Stainless Steel Appliances, Granite Countertops, Pantry and Large Eating Area. Unwind in the Upper Level Master Suite with Attached Luxurious 5 Piece Bathroom. There are 2 Additional Bedrooms and Full Bathroom on the Upper Level. The Lower Level Features a Spacious Family Room with Cozy Fireplace, Built-Ins and Walk Out. The Finished Basement Includes the 4th Secondary Bedroom that is currently being used as an office. The Expansive Backyard is Beautifully Landscaped with Large Patio, Greenhouse and is Perfect for Summer Gatherings. Central A/C, Great Location with Easy Access to Shopping, Dining, Schoo…

The Cycle of Investments

Image
This is a great chart showing the Cycle of Investments:



If you are considering Relocating to Colorado Springs, Purchasing a Home for Sale in Colorado Springs, considering Selling a Home in Colorado Springs, or want more information on the Colorado Springs Real Estate Market, Contact your Colorado Springs Real Estate Expert, Mike MacGuire Today! Click Here to Check out my informational video if you are considering Selling a Home in Colorado Springs. Click Here to Check out my informational video if you are considering Purchasing a Home for Sale in Colorado Springs.

Parenting Magazine says Colorado Springs is a Top City for Families

Image
MCCLATCHY NEWSPAPERS

Parenting magazine has named Colorado Springs among the top 20 places to raise a family in the United States. It's the only Coloardo city on the list.

Any place you choose to put down roots will have pros and cons. How to sort through them all? Don't worry, Parenting magazine has crunched the numbers for you.

The magazine examined American cities to come up with the best paces for families. Factors included great schools, affordable homes, low crime rates, plenty of jobs, and lots of parkland.

Here are the top 20 cities to raise a family in 2011, according to Parenting magazine:

1. Washington, D.C.

2. Austin, Texas

3. Boston, Mass.

4. St. Paul/Minneapolis, Minn.

5. Des Moines, Iowa

6. Madison, Wis.

7. Honolulu, Hawaii

8. Omaha, Neb.

9. Seattle, Wash.

10. Louisville, Ky.

11. St. Louis, Mo.

12. San Antonio, Texas

13. Portland, Ore.

14. Kansas City, Mo.

15. Colorado Springs, CO

16. New Orleans, La.

17. Richmond, Va.

18. Lexington, Ky.

19. Lincoln, Neb.

20. Wichita, Kan.

If you are co…

Colorado Springs rated a 'best value' city

Image
Colorado Springs is rated No. 4 on a list of America's "10 best value cities for 2011" by financial news magazine Kiplinger.

The ranking is based on such factors as cost of living, median household income and the local unemployment rate. It's meant to showcase metro areas "with vibrant economies, reasonable living costs, and great amenities," the magazine says.

Kiplinger praises Colorado Springs for wooing companies with tax incentives, its highly educated workforce, its relatively low housing and utility costs, and its "spectacular" setting at the foot of the Rockies.

The average home sale price is under $230,000; monthly rent on a two-bedroom apartment is less than $800. Utility costs are exceptionally low, about $222 per month for electricity, water and gas and trash collection. And the setting at the foot of the Rocky Mountains is spectacular.

If you are considering Relocating to Colorado Springs, Purchasing a Home for Sale in Colorado Springs, c…