Colorado Springs named one of 10 best mid-sized cities for quality of life...
On June 30 Portfolio.com released its top 10 mid-sized metropolitan areas for best quality of life. Colorado Springs made the top 10 list along with Boulder and Fort Collins.
Topping the field was Boulder. The next cities were: Provo, Utah; Fort Collins, CO; Madison, WI; Ogden, Utah; Holland, Mich; Colorado Springs; Ann Arbor, Mich; Des Moines, Iowa; and Manchester, NH.
The study compared 109 medium sized cities with populations between 250,000 and 750,000 in 20 statistical categories. Markets given the highest scores have healthy economies, moderate costs of living, light traffic, impressive housing stocks and high-powered educational systems.
Information furnished by Colorado Springs Business Journal
Thursday, July 1, 2010
Thursday, May 20, 2010
Numbers are Heading UP!
Real Estate Numbers are heading up-this can be both positive and negative depending on the category we are discussing!
Sales prices in Colorado Springs are moving up. In April the average selling price was 5% higher than a year ago - GOOD NEWS! Sale shave increased every month this year with respect to both units sold and percentage increase in demand. In April sales were up 12% over las year at this time - MORE GOOD NEWS! Other numbers are also increasing - foreclosure filings are up and the inventory of homes for sale is also up. For the first time in two years, there are more homes for sale now than there were at this same time one year ago.
Interest rates remain incredibly low (below 5%), and with very competitive pricing and a great inventory of available homes for sale, this market opportunity is unprecedented. If you've been sitting on the fence, it might be time to jump into the market - we think you'll be surprised at what your dollar can buy!
To see the breakdown of homes sold and listed in particular areas in Colorado Springs, go to our website at www.TyraAndColleen.com. Click on about us, and click up Market updates.
Sales prices in Colorado Springs are moving up. In April the average selling price was 5% higher than a year ago - GOOD NEWS! Sale shave increased every month this year with respect to both units sold and percentage increase in demand. In April sales were up 12% over las year at this time - MORE GOOD NEWS! Other numbers are also increasing - foreclosure filings are up and the inventory of homes for sale is also up. For the first time in two years, there are more homes for sale now than there were at this same time one year ago.
Interest rates remain incredibly low (below 5%), and with very competitive pricing and a great inventory of available homes for sale, this market opportunity is unprecedented. If you've been sitting on the fence, it might be time to jump into the market - we think you'll be surprised at what your dollar can buy!
To see the breakdown of homes sold and listed in particular areas in Colorado Springs, go to our website at www.TyraAndColleen.com. Click on about us, and click up Market updates.
Tuesday, May 18, 2010
Wednesday, May 5, 2010
Credit Inquiries and Credit Scores Information
When a consumer makes a credit inquiry for a mortgage, typically their credit score will drop approximately 5 points. All customers want the best rate and deal, but not at the expense of hurting their credit.
Many consumers are fearful to have a second or third lender pull their credit because it is thought that this would lower their credit score even more with each inquiry. This is not entirely true. To compensate for this, the 3 major credit bureaus (Experian, Trans Union and Equifax) ignore mortgage, auto, and student loan inquiries made within the 30 days of your initial inquiry. So, if you find a loan and a lender within 30 days, the inquiries won't affect your score while you're rate shopping.
For more information go to www.myfico.com/crediteducation/creditinquiries.aspx
Many consumers are fearful to have a second or third lender pull their credit because it is thought that this would lower their credit score even more with each inquiry. This is not entirely true. To compensate for this, the 3 major credit bureaus (Experian, Trans Union and Equifax) ignore mortgage, auto, and student loan inquiries made within the 30 days of your initial inquiry. So, if you find a loan and a lender within 30 days, the inquiries won't affect your score while you're rate shopping.
For more information go to www.myfico.com/crediteducation/creditinquiries.aspx
OPEN HOUSE Saturday, May 8th1 - 4 p.m.
Don't miss this beautifully cared for home in Fox Run! This incredibly light and bright home is surrounded by soaring pines and backs to open space and a trail which leads you to Fox Run Regional Park! All of this privacy and serenity with amazing Front Range and Pikes Peak Views! The impressive setting off the street and the obvious pride of ownership make this home truly special...
3 Bedrooms, 3 baths, 3 car garage
Offered at $424,900! See more at TyraAndColleen.com
Wednesday, April 14, 2010
First Time Homebuyer Tax Credit Time is running out!
All contracts must be ratified by April 30th 2010! You must close on the property by June 30th!
What is the tax credit for first-time home buyers? An eligible home buyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where a individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
The tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? Darned if I know...just kidding. For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filling an amended 2009 tax return with Form 5405.
What is the tax credit for first-time home buyers? An eligible home buyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where a individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
The tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? Darned if I know...just kidding. For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filling an amended 2009 tax return with Form 5405.
House Passes Legislation Extending FTHB Tax Credit for Veterans
There has been some confusion about the First Time Home Buyer's Tax Credit for Veterans. I hope this will clear any confusion up!
HR 3590 will allow eligible military personnel, foreigh service and intelligence officers to apply for $8000 tax credit for ONE YEAR BEYOND ITS CURRENT NOVEMBER 30 deadline. Those meeting the underlying requirements for the credit must also be serving overseas or have spend at least 90 days deployed outside of the country during the current calendar year. It is expected that about 350,000 military personnel and an unknown number of federal employees may be affected by the law. The bill, introduced by Representative Charles Rangel (D-NY) because it was thought that families serving overseas were being passed over for the one-time opportunity to purchase a home.
HR 3590 will allow eligible military personnel, foreigh service and intelligence officers to apply for $8000 tax credit for ONE YEAR BEYOND ITS CURRENT NOVEMBER 30 deadline. Those meeting the underlying requirements for the credit must also be serving overseas or have spend at least 90 days deployed outside of the country during the current calendar year. It is expected that about 350,000 military personnel and an unknown number of federal employees may be affected by the law. The bill, introduced by Representative Charles Rangel (D-NY) because it was thought that families serving overseas were being passed over for the one-time opportunity to purchase a home.
Thursday, April 1, 2010
Jan, Feb real estate market update.
Well, What is happening in the Colorado Springs housing market people!!! It's a mixed bag but here is what we know so far...
It STINKS!!! Just kidding...well sort of. The following is information as of the end of February 2010. The inventory of homes on the market is actually at a 4 year low! Good news for you sellers out there. There has been a 10% increase in the number of listings over the last 60 days which is the largest surge in listings since 2001...this could signal some downward pressure on prices in the future.
For those of you with homes under $250,000, there is a STRONG demand for your home! 82% of all sales in the last 90 days were under $300,000.
Colorado Springs has 8.7 months of inventory overall. Under $225,000 the inventory is even lower. Your price range is dictating how long it will take you to sell you home. Average months on market range from 2.54 for the $75,000 - $100,000 and a whoppin' 46.5 monthe for the $1.5 -$2.0 million price range. It's all about "hitting" the right price for the buyers who are currently in the market.
In January and February, 2010, less than 45% of all sales were distressed sellers (forclosures, short sales, etc.) Sounds terrible doesn't it! Well, compare that to 60% during the same time frame last year in 2009 and it makes this year look pretty rosey!
Interest rates remain low for now. Experts have been predicting increases starting in April due to a change in the fed's policy with respect to the purchase of mortgate backed securities. So what are you buyers waiting for?
March information will follow in a few days as we are just compiling this data.
It STINKS!!! Just kidding...well sort of. The following is information as of the end of February 2010. The inventory of homes on the market is actually at a 4 year low! Good news for you sellers out there. There has been a 10% increase in the number of listings over the last 60 days which is the largest surge in listings since 2001...this could signal some downward pressure on prices in the future.
For those of you with homes under $250,000, there is a STRONG demand for your home! 82% of all sales in the last 90 days were under $300,000.
Colorado Springs has 8.7 months of inventory overall. Under $225,000 the inventory is even lower. Your price range is dictating how long it will take you to sell you home. Average months on market range from 2.54 for the $75,000 - $100,000 and a whoppin' 46.5 monthe for the $1.5 -$2.0 million price range. It's all about "hitting" the right price for the buyers who are currently in the market.
In January and February, 2010, less than 45% of all sales were distressed sellers (forclosures, short sales, etc.) Sounds terrible doesn't it! Well, compare that to 60% during the same time frame last year in 2009 and it makes this year look pretty rosey!
Interest rates remain low for now. Experts have been predicting increases starting in April due to a change in the fed's policy with respect to the purchase of mortgate backed securities. So what are you buyers waiting for?
March information will follow in a few days as we are just compiling this data.
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