October 25, 2010

HARRY'S WEEKLY UPDATE

A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

 

HEY, COLORADO SPRINGS ..IT'S 2011 ....IT'S A NEW BALLGAME .BATTER UP !!!

As we begin 2011, we citizens of Colorado Springs have a great opportunity to start a whole new ballgame. Elections for the new city council come up on April 5th and we will also have the opportunity, for the first time, to vote for a full-time mayor. This election represents a whole new beginning for our city.

This new beginning comes at a time when everyone agrees that jobs will be the key to our future success as a city. Jobs will generate economic growth, rebuild the housing market, stimulate spending, promote a healthy economy, increase our tax revenues and boost everyone's morale. Unfortunately, in 2011, there will be many other cities competing with us for the attention of job-generating new businesses.

With that in mind, we would like to encourage our readers to take an increased interest in our upcoming elections. Be sure to ask all candidates for office about their specific plans for attracting new businesses to our city. This is our chance to find out exactly what each candidate plans to do to increase employment opportunities in the Pikes Peak area. Yes, yes, we know that every candidate loves the flag and Mom's apple pie, but, how do they plan to beat our competition in this fight for jobs. What innovative plans do the candidates have for "selling" our city, promoting our unique lifestyle and beauty, bringing our budget problems to an end, improving services, enhancing our national image, encouraging growth, etc., etc., etc.

The candidates we end up choosing should be the ones who have some innovative solutions for winning this fight for jobs.

It may be a little early for traditional Spring training to begin, but, in the case of our city's upcoming elections, it's not too early to start planning for the first game of the season.

Play ball !!!   Batter up !!! 

 

WANT TO BEAT THE STOCK MARKET?  .BUY A HOUSE

We frequently hear from people who express reluctance to buy a new home right now. Considering the turmoil that the real estate market is currently going through, they are not sure that owning a home would be a good business decision.

Well, let's look at the historical facts about home ownership in Colorado Springs over the past ten years. In December of 2000, the median sales price of homes in Colorado Springs was $145,000. At the end of December 2010, the median sales price was $198,000. That difference of $53,000 represents a gain of 3.66% per year, over each of the past ten years. In addition to this increase in market value, the Homeowner also benefited from such factors as an increase in equity, significant tax benefits, etc.

If, instead of buying a house ten years ago, the investor had bought stocks, the Dow Jones Industrial average shows that, over the past ten years, his/her investment would have shown a total increase of 1.06% ..that's not per year, that's total increase.

Bottom line: Over the long haul, buying a home is a much better investment that investing in the stock market. Furthermore, with the still-low interest rates that are now available, there is even more reason to buy now. (And, if you are concerned about job security, please call us about our Job-Loss Protection Program)

 

WHAT DO THE EXPERTS SAY ABOUT real estate IN 2011?

In an interview on December 30, 2010, Lawrence Yun, Chief Economist for the National Association of Realtors, made the following predictions about the real estate market in 2011:

"Steady improvements in the economy are helping bring buyers into the market, but further gains are needed to reach normal levels of sales activity.

"If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume.

"All the indicator trends are pointing to a gradual housing recovery. Home price prospects will vary depending largely upon local job market conditions. The national median home price, however, is expected to remain stable even with a continuing flow of distressed properties coming onto the market, as long as there is a steady demand of financially healthy home buyers.

"As we gradually work off the excess housing inventory, supply levels will eventually come more in-line with historic averages, and could allow home prices to rise modestly in the range of 2-3% in 2011.

As we said in our first article, Jobs will determine the speed with which we recover from the recession.

  

LATEST STATISTICS

Click here to see the latest Sales and Listing statistics for the Pikes Peak area

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 37 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.

Just click on the icon at the top of this email to listen to my latest podcast. ..And, if you would like to learn more about our Job Loss Protection Program, or, about our CyberHomes Complete Market Analysis of a property, please contact us. 

 

JOKE OF THE WEEK

A balloonist is blown off course and is forced to land. He is in a field close to a road, but has no idea where he is. He sees a car coming along the road and hails it.

The driver gets out and the balloonist says, "Howdy! Can you tell me where I am?"

"Yes, of course," says the driver. "You have just landed in your balloon, and with this wind you have obviously been blown off course. You are in the top field on John Dawson's farm, 12 miles from Albury. John will be plowing the field next week and sowing wheat. There is a bull in the field. It is behind you and about to attack you."

At that moment, the bull reaches the balloonist and tosses him over the fence.

Luckily, the balloonist is unhurt. He gets up, dusts himself off and says to the motorist, "I see you're an appraiser for a bank"

"Good grief," says the other man, "you're right! How did you know that?"

"I'm a Realtor and I work with bank appraisers all the time." says the balloonist. "The information you gave me was detailed, precise, and accurate. Most of it was useless, and it arrived far too late to be of any help."