OK, here it is another month has flown by. This is good news however, our market is keeping things so busy! The buying opportunity is really fantastic right now, there are a tremendous number of great deals on the market. Some buyers however are commenting that inventory is low, and it is. As a seller, it is not a bad time at all to sell, contrary to what the media would like you to believe! Although properties are not fetching top dollar as they may have a couple of years ago, homes priced correctly and in great condition are moving very well in most parts of town. Interest rates are still fantastic and even the new buyer tax credit is a help. You can visit the following site for more information on that:

http://federalhousingtaxcredit.com/index.html

Again, please remember to check out:

www.pikespeakfacts.com

This site is packed full of accurate data on our Colorado Springs market. It has a wonderful compilation of stats to show trends and most recent, the lower inventories we have right now. And give me a call for any additional information that might be helpful to you!

Good News! Seems like we are seeing some positive signs across the country. Visit this link from USA Today to see a recent report that foreclosures are down:

http://www.usatoday.com/money/economy/housing/2009-02-11-decline-housing-foreclosure_N.htm?csp=34

On a local note, with interest rates remaining at historically low levels combined with a relatively low inventory, it is a better time to sell than we have seen in months. To keep an accurate picture of the local Colorado Springs market, remember to visit the following website.

www.pikespeakfacts.com

Pikes Peak Facts is great at providing accurate and up to date information on the local Colorado Springs market. One interesting note, for the entire year 2008 every month the list price to sale price ratio was above 96%, many months higher. This is important because this shows that local buyers are seeking out properties that are aggressively priced to begin with, and not making low offers on overpriced homes in hopes that the sellers may come down. Sellers beware, buyers today are savvy and educated, and they are gravitating toward homes that are already correctly priced!

There is alot of information out there and nearly every expert weighing in on the housing stats for the end of 2008. No doubt that 2008 was a tumultous year at best. In an effort to understand our Colorado Springs market better, I encourage you to visit

www.pikespeakfacts.com

This site is invaluable in obtaining actual current data with which you can further understand our market here in the Springs. For example, by end of December we were down 14.2% in inventory (active listings) from the previous year, below 5,000 units of single family and patio homes. This is a crucial number to watch, as lower inventory is key to stabilization. Furthermore, it is interesting to see that every month last year, the sales price to listing price ratio was above 96%, indicating how critical accurate pricing of a property is.

Finally, some national numbers can be understood in a recent article from CNN Money at:

http://money.cnn.com/2009/01/26/real_estate/existing_home/index.htm

HAPPY NEW YEAR!
Ok, so one of my resolutions this year is to weekly update my blog! I come across so much great information that I would love to pass along and post, so I will be making a consistent effort to maintain this site with a bit of this information.

To start, I have posted a link to an article and video post on Forbes. Forbes magazine recently has named Colorado Springs as the number 7 most likely market to see an increase in housing starts for 2009, and as a city on the quicker rebound. This is great news for our market. Our inventory is down, interest rates are the best we have seen in years, and this combination puts us in great shape for the coming year!

Follow this link to view/read the recent Forbes article:
http://www.forbes.com/2008/08/25/housing-prices-rising-forbeslife-cx_mw_0825realestate_slide_5.html?thisSpeed=15000