Posts

Showing posts from 2012

5 Real Estate Trends to Look For in 2013

Image
By The KCM Crew

Predicting trends during volatile economic times in American is no easy task. However, we are going to give it our best shot. We strongly believe these are the five real estate items we should keep an eye on in 2013:

Demand for Housing Will Continue to Surge

The housing market has turned the corner and there is no reason to believe that buyer demand will not maintain momentum throughout 2013. Household formations shot up to boom-time levels in 2012 and are projected to increase at even a faster rate over the next twelve months. A lack of inventory will be more of a challenge to sales increases than will a lack of demand.

Generations X and Y Will Prove They Believe in Homeownership

Contrary to what many have hypothesized over the last few years, young adults (18-35 year olds) are just as committed to homeownership as previous generations. Recent studies have shown:

43% already own a home

72% see homeownership as part of their personal American Dream

93% of those currently ren…

93% of Young Adults Plan to Buy a Home

Image
By the KCM Crew

If you follow this blog, you know that we have often posted that we believe young adults between the ages of 18-34 will be a major percentage of all buyers purchasing a home in 2013. Some believe we are overestimating the millennials’ belief in homeownership. However, a new study by Trulia reveals we may be dead on. Regarding young adults, the study reports:

43% are already homeowners
93% that currently rent plan to purchase a home
72% say homeownership is part of their personal American Dream

Jed Kolko, Trulia’s Chief Economist, explained:

“Millennials have been shaken, not scarred by the housing bust. Nearly all of them want to own a home someday, if they’re not homeowners already. But many of them think today’s low prices and low mortgage rates will last. They may be in for sticker shock if the cost of homeownership has returned to normal levels by the time they’re ready to buy.”

If you are a young adult waiting to buy, you must realize that the price of a home and the c…

Homeownership as an Investment

Image
By The KCM Crew

In Real Estate: Today’s Golden Opportunity we compared the current housing market to the market for gold about a decade ago. Some commented on the fact that you can’t compare gold to real estate as an investment as gold is a very liquid asset and it would take more time and effort to sell a house. We were not trying to make the case for real estate vs. gold as an investment in our blog. We were just showing that all investments go through cycles and that the best time to buy any investment may be when everyone is saying not to.

However, since the subject of comparing real estate to other investments has come up, let’s take a closer look. There are two major advantages to investing in a home of your own rather than another option:

You Can’t Live in Your IRA

When you buy your own home you are not taking available dollars away from another investment. You are replacing one housing expense (rent) which has no potential for a return on investment with another (mortgage payme…

House and Condo Sales by Region

Image
By: KCM Crew

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. 

5 Reasons to Buy a Home Now Instead of the Spring

Image
By KCM Crew

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:


Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices were expected to bounce along the bottom this winter. However, many pricing indices (examples: CoreLogic, FHFA, LPS, Case Shiller) are reporting that prices are continuing to rise.

Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported …

Home for Sale in Colorado Springs

Image
Main Level Living at it’s best! This ranch style home for sale in Colorado Springs features 4 Bedrooms, 3 Bathrooms, oversized 2 Car Garage and 3,800 + Square Feet. Click Here to Tour this Home for Sale in Colorado Springs! The main level includes a spacious living room with walk out, formal dining room, eat in kitchen with ample cabinet and counter space, master retreat with attached 5 piece bathroom and a large secondary bedroom. The finished walk out basement boasts a large family room with cozy fireplace, wet bar, 2 additional bedrooms, full bathroom and bonus room. Enjoy beautiful Pikes Peak and Mountain View from your expansive backyard, privacy, great location and more! 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 o…

Move In Ready Home For Sale in Colorado Springs

Image
Move In Ready Home For Sale in Colorado Springs Featuring 4 Bedrooms, 3 Bathrooms, 2 Car Garage and over 2,900 Square Feet. Click Here to tour this Home for Sale in Colorado Springs. Perfect for the First Time Home Buyer or if you are Relocating to Colorado Springs. Beautiful hardwood floors throughout the main level, spacious formal living room and formal dining room. The beautifully updated kitchen boasts granite countertops, stainless steel appliances, ample cabinet and counter space and an eating area. Unwind in the upper level master retreat with his and her closets and an updated bathroom. The upper level also includes 3 spacious secondary bedrooms and an updated secondary bathroom. The lower level includes a large laundry room, bathroom and a spacious family room with a cozy wood burning fireplace that walks out to the large backyard. The beautifully xeriscaped backyard is perfect for Colorado’s high desert climate with the drought tolerant trees, shrubs, gravel and mulch. This…

Move In Ready Home For Sale in Colorado Springs

Image
Gorgeous Ranch Style Home for Sale in Colorado Springs Featuring 4 Bedrooms, 3 Bathrooms, 2 Car Garage and over 3,300 Square Feet. This Home for Sale in Colorado Springs is Perfect for the First Time Home Buyer or if you are Relocating to Colorado Springs. Click Here to Tour this Home for Sale in Colorado Springs!

This immaculate home features an open and inviting floor plan with beautiful hardwood floors throughout the main level. The large formal dining room is light and bright and the spacious living room includes a cozy gas fireplace. The perfectly appointed kitchen has been recently updated and boasts ample cabinet and counter space, and the eating nook walks out to the large backyard. Unwind in the main level master retreat that includes a walk in closet and an attached 5 piece bathroom. The finished basement is perfect for the growing family with a large family room, 2 additional secondary bedrooms and a full bathroom. Enjoy the fully landscaped backyard with privacy, trees and …

Cost vs. Price Explained

Image
By The KCM Crew

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.

The Mortgage Bankers Association (MBA) is projecting that mortgage interest rates will inch up over the next twelve months. Many experts are calling for home prices to also increase over the next year.

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact certain changes would have on the mortgage payment of a home selling for approximately $200,000 today:


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! C…

Wonderful 2-Story Home For Sale in Colorado Springs

Image
Move in Ready 2-Story Home for Sale in Colorado Springs featuring 3 Bedrooms, 3 Bathrooms, 3 Car Garage and over 3,100 Square Feet. Click Here to Tour this Home For Sale in Colorado Springs. The open main level includes a spacious formal living room and formal dining room perfect for entertaining. The perfectly appointed gourmet kitchen boasts hardwood floors, upgraded granite countertops, large island, pantry, upgraded appliances, dual ovens and a large eating area with walk out. The main level also includes a family room with a cozy gas fireplace, large office with fireplace, powder room and laundry room. Unwind in the upper level master retreat with vaulted ceilings, sitting area, fireplace, walk in closet and attached luxurious 5 piece bathroom with dual sinks, free standing shower and a Jacuzzi tub. The upper level also includes 2 spacious secondary bedrooms and a full bathroom. The unfinished basement is perfect for future expansion! The professionally landscaped yard includes a…

Housing Numbers from NAR’s Existing Home Sale Report

Image
By the KCM Crew

The National Association of Realtors’ (NAR) September Existing Home Sales Report revealed that sales declined modestly, but inventory continued to tighten and the national median home price recorded its seventh back-to-back monthly increase from a year earlier.

Total existing-home sales fell 1.7% but are 11% above the pace in September 2011.

Other findings revealed in the report:

Existing-home price: the national median was $183,900 in September, up 11.3 percent from a year ago.

Distressed homes – foreclosures and short sales accounted for 24 percent of September sales (13 percent were foreclosures and 11 percent were short sales), up from 22 percent in August and down from 30 percent in September 2011.

Foreclosures sold for an average discount of 21 percent below market value in August.

Short sales were discounted 13 percent below market value in August.

Housing inventory at the end September fell 3.3 percent which represents a 5.9-month supply at the current sales pace, …

Incredible Home For Sale in Colorado Springs

Image
This authentic Santa Fe style Home for Sale in Colorado Springs, located in the gated community of Highlands of Turkey Canon Ranch boast 3 Bedrooms, 4 Bathrooms, 10 Car Garage, Over 4,000 Square Feet and is situated on 35 Private Acres. Click Here to Tour this Home For Sale in Colorado Springs, As you enter this Home For Sale in Colorado Springs, your eyes are immediately drawn to the windows that continue to beckon you forth to the grandeur of the great room with unparalleled panoramic views of the Spanish Peaks and Sangre de Cristo Mountain Range. The attention to detail in the oversized gourmet kitchen will entice you to want to entertain with stainless steel appliances, breakfast bar, large pantry and is open to the large dining area. Escape the frantic pace of daily life and unwind in the walk out master suite with a luxurious 5 piece bathroom, to include a soaking tub with incredible views, spacious sitting area and a large walk in closet. The main level also includes the 2nd be…

Move In Ready Home for Sale in Colorado Springs

Image
Move in ready home for sale in Colorado Springs in D-20 featuring 4 Bedrooms, 2 Bathrooms, 2 Car Garage and over 1,900 Square Feet. Click Here to Tour This Home for Sale in Colorado Springs. The open main level includes a spacious living room with a cozy fireplace, dining area, completely updated kitchen with new cabinets, flooring, appliances, granite countertops, new sink and faucet. Unwind in the master retreat with a large closet and attached updated bathroom. There is also a secondary bedroom and a large flex room with walk out that is perfect for a sitting room or study that complete the main level. The basement features a large family room with a cozy fireplace, 2 sun rooms, 2 secondary bedrooms, a full bathroom that has been updated, and recreation area. Enjoy the great backyard with large upper and lower deck and backs to a walking path. This home also includes new interior and exterior paint, new roof, new decking, new bamboo flooring, updated lighting fixtures, newer window…

Prepare for Freezing Temperatures!

Image
With Freezing Temperatures being predicted, I thought it might be helpful to share a few ways to prepare:

Short List of Things To Do


I'll start with a short checklist and elaborate a bit on each item below.

• Disconnect garden hoses from hose bibbs or hose faucet

• Drain your sprinkler system

• Drain water from non-frost-proof hose bibbs

• Disconnect hose nozzles and bring inside

• Drain garden hoses

• Disconnect and drain swamp cooler

Disconnect Hoses from Hose Bibbs

Simply unscrew the hose from the hose bibb. You may need a pliers if it's very tight. If you don't disconnect hoses from the hose bibb water can freeze in the bibb and when it thaws it can flood your basement, crawlspace or yard.

Drain Your Sprinkler System

Ideally you would have this done by an expert that can hook your sprinkler system up to air pressure and blow the water out of the system.

If you can't get this done before freezing weather at least shut off the valve for the sprinkler system and drain t…

Cost of a Home: Impact of Interest Rates

Image
By The KCM Crew


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.

Home Sale Stats

Image
By The KCM Crew
Based on NAR’s September Existing Home Sales Report

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.

Home For Sale in Colorado Springs

Image
Great 2-Story Home For Sale in Colorado Springs featuring 5 Bedrooms, 3 Bathrooms, 2 Car Garage and over 3,000 Square Feet. This Home for Sale in Colorado Springs is perfect for the First Time Home Buyer or if you are Relocating to Colorado Springs. Click Here to Tour this Home For Sale in Colorado Springs. The main level boasts a formal living room, hardwood floors, a spacious kitchen with stainless steel appliances, ample cabinet and counter space, large eating area that walks out to the expansive backyard, a large family room and the 5th bedroom that could also be used as an office/study. Unwind in the upper level master retreat with an attached private bathroom and walk in closet. There are 3 spacious secondary bedrooms and a full bathroom that complete the upper level. The unfinished, walk out basement is perfect for future expansion. This home also includes central AC, a large deck and backs to open space for privacy. Easy access to shopping, dining, parks, schools and more! If y…

Home For Sale in Colorado Springs

Image
Move in ready 2 Story Home For Sale in Colorado Springs boasting 5 Bedrooms, 4 Bathrooms, 3 Car Garage and over 3,800 Square Feet.  Click Here to Tour This Home For Sale in Colorado Springs! The main level is perfect for entertaining and it features a formal living and dining room, spacious kitchen with center island, hardwood floors, ample cabinet and counter space and an eating nook with walk out to the large patio. The main level also includes a spacious laundry room, large light and bright family room with built-ins and a cozy gas fireplace. Unwind in the upper level master retreat with an attached luxurious 5 piece bathroom and walk in closet. The upper level also includes 3 spacious bedrooms and a full bathroom. The professionally finished basement includes the 5th bedroom, office, wet bar and a full bathroom. The expansive backyard backs to a walking/biking trail that connects to Santa Fe Trail system. This home also includes new central AC and is a great location with easy acc…

Home For Sale in Colorado Springs

Image
Move in ready 2 Story Home for Sale in Colorado Springs boasting 5 Bedrooms, 4 Bathrooms, 2 Car Garage and over 3,400 Square Feet. Click Here to Tour This Home For Sale in Colorado Springs! The main level is perfect for entertaining and it features a formal living and dining room with hardwood floors, spacious kitchen with center island, ceramic tile, ample cabinet and counter space and planning desk and eating nook with walk out to the large deck. The main level also includes a large family room with hardwood floors and a cozy gas fireplace. Unwind in the upper level master retreat with an attached 5 piece bathroom and walk in closet. The upper level also includes 3 spacious bedrooms and a full bathroom. The finished walk out basement includes a family room, recreation area, wet bar, 5th bedroom and bathroom. Enjoy spectacular mountain views from your expansive deck and beautifully landscaped yard. Easy access to shopping, dining, schools, parks and more! This Home For Sale in Colora…

5 Reasons to Buy a Home Now

Image
By The KCM Crew

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016.

Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this…

The Finances of Renting vs. Buying

Image
By The KCM Crew

Trulia reported this week that homeownership is 45% cheaper than renting in the United States. Jed Kolko, Trulia’s Chief Economist explained:

“Homeownership is cheaper than renting in all of the 100 largest metros, by a wide margin. Despite the recent price rebound, rents continue to rise faster than prices, and mortgage rates are near record lows. Homeownership makes the most financial sense for people whose strong credit scores let them snag the lowest mortgage rate and who get the biggest benefit from deducting mortgage interest and property taxes from their income taxes.”

(Trulia’s methodology is explained here.)

This news did not come as a surprise to us as we have reported that today’s rental market definitely favors the landlord. Below is a graph of how rental prices have increased recently and where they are projected to go over the next few years based on a report from Marcus & Millichap.



It cost more to rent than own right now. And you don’t get any of yo…

Let’s Not Get Carried Away with Home Price Increases

Image
By: The KCM Crew

There has been a lot of excitement about home prices over the last few months. Though we agree that the housing industry is in a full out recovery, we also believe that there will still be price volatility over the next several months. We must realize home sales are seasonal and that fact impacts prices.

Lawrence Yun, Chief Economist for National Association of Realtors, explains that the inventory of lower priced homes has been constrained leading to the rise in median home prices:

“Fewer sales in the lower price ranges are contributing to stronger increases in the median price, but all of the home price measures now are showing positive movement and that is building confidence in the market.”

Celia Chen, housing analyst at Moody’s Analytics projects that this positive price movement may not be sustained over the next few months as more distressed properties enter the market:

“Housing is about to turn from being a drag on the broader economy to being a driver…House pri…

Pending Contracts Up Over 12%

Image
By The KCM Crew

Last week the National Association of Realtors (NAR) released their Pending Home Sales Index. The Index, a forward-looking indicator based on contract signings (not closings), rose 2.4 percent to 101.7 in July up 12.4 percent above July last year. The index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. Lawrence Yun, NAR chief economist, said:


“While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity.”  This preceded NAR’s Existing Home Sales Report which showed closed sales were up 10.4% over last year. Prices were also up 9.4% year over year. NAR expects existing home sales to rise 8 to 9 percent in 2012, followed by another 7 to 8 percent gain in 2013. Home prices are expected to increase 10 percent cumulatively over the next two years.

And even though new construction sales showed a 25% increase over las…

Labor Day Events in Colorado 2012

Check Out some Fun Events that are going on throughout Colorado this Labor Day Weekend!

Housing Market Year-Over-Year

Image
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.

Beautiful Home For Sale in Colorado Springs

Image
Stunning, Move In Ready Ranch Style Home for Sale in Colorado Springs located in school district 20. This Beautiful Home for Sale in Colorado Springs Features 4 Bedrooms, 3 Bathrooms, 3 Car Garage and over 3,600 Square Feet.  Click Here to Tour this Home For Sale in Colorado Springs. Beautiful tile and wood floors throughout, central air conditioning, central humidifier, stucco, tile roof and surround sound system throughout. The open floor plan is perfect for entertaining with its great room concept. The perfectly appointed gourmet kitchen boasts ample cabinet and counter space, granite countertops, stainless steel appliances, double oven and pantry. There is a see through fireplace in the spacious living room and the living room is open to the kitchen and dining area with walk out. Unwind in the main level master retreat with a walk in closet and luxurious 5 piece bathroom. The finished, walk out basement includes a large recreation area, theater room, 2 spacious bedrooms and a full…