Posts

Showing posts from September, 2012

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…