Spring Has Sprung: Colorado Springs home sales and prices rise again in March



Colorado Springs home sales and prices rise again in March, quoting the Colorado Springs Gazette:

The single-family home resale market enjoyed another strong showing last month.

Home sales in March totaled 1,009, which was 21.3 percent higher than the same month last year, according to a report this week by the Pikes Peak Association of Realtors. It was the eighth straight monthly increase in sales.

 

Sales totaled 2,362 from January through March, which was the best first quarter for any year since 2006, the report showed.

The median price – or midpoint – of homes that sold in March rose to $225,000, a 7.1 percent increase when compared with the same month last year. Prices have increased in 10 out of the last 11 months.

“It was a very good month,” said Cherri Fischer, a real estate agent with ERA Shields Real Estate and board chairwoman of the Realtors Association.

A pent-up demand on the part of buyers, low mortgage rates and stronger consumer confidence are helping to propel the resale market, Fischer said. “Around Colorado Springs, there’s a little bit more of a positive feeling within the community, which starts at the national level,” she said. “Sometimes it takes awhile for it trickle down to the El Paso County area.”

Even with the demand for existing homes, the supply remains tight. The inventory of homes listed for sale totaled 2,538 in March, down by nearly one-third from the same month last year. The supply of homes for sale is in sharp contrast to the recession years, when inventories often ranged from about 5,000 to 7,000 a month.

Expect the resale side to remain strong for the next few months; the number of pending sales and homes under contract is at a 10-year high, she said.

“It’s looking like it for the next month and the following month, as well,” Fischer said of the continued upswing in the market.

The association’s home sales report includes transactions that were handled by its members and doesn’t include homes sold by individual owners. Most of the transactions in the report take place in El Paso and Teller counties.

Contact Rich Laden: 636-0228

Twitter: @richladen

Facebook: Rich Laden

Read more at http://gazette.com/home-sales-and-prices-rise-again-in-march/article/1549067#diytzVPZvX7jlMGd.99

 

16 Reasons Why We Love Buying Houses in Colorado Springs



Why We Love Buying Houses in Colorado Springs - Colorado Home Trust
Why We Love Buying Houses in Colorado Springs – Colorado Home Trust

We love buying houses in Colorado Springs and we’d love to share with you why we have and always will.

1. We love Colorado Springs!

From all of our years in the Colorado Springs “We Buy Houses” business, we’ve met some of the best PEOPLE on earth from all over the earth! Every family has a great story and we are blessed to have been invited into so many homes to honor and often restore the homes that have been such an important part of their lives.

2. We love the people we’ve been blessed to work with here.

We love having the opportunity of working with and care for the needs of families. We buy houses in any situation and any condition. We have purchased homes that need little or no work to others that need to be renovated right down to the studs! With our licensed network of contractors and specialty tradesmen, there is no property that is beyond our ability to fully renovate and return to market, a better home.

“We were saddled with a property that was in an un-sellable or un-rentable condition. Colorado Home Trust just helped extricate us from a bad financial situation.” – Pat O’Conor

And above all, here’s 16 reasons why we love what we do:

  1. Meeting new families assisting their process into becoming homeowners.
  2. Improving neighborhoods.
  3. Creating jobs, supporting local business.
  4. Restoring historical properties to their former days.
  5. Creative solutions to real estate problems.
  6. Modernizing kitchens and baths to environmental standards.
  7. Helping families sell their house fast for any reason!
  8. Helping landlords turn their rentals into truly passive income.
  9. Buying houses and not just listing them!
  10. Employing local tradesmen.
  11. Helping families avoid costly repairs.
  12. Avoiding foreclosure through thoughtful options.
  13. Filling vacant homes with families.
  14. Making the inherited property process a breeze.
  15. Assisting families in relocations, we make things happen fast!
  16. We love buying houses quickly in any condition.

Our family has been in the residential real estate business since 1970. From Georgia to Texas to Colorado, we have been involved in hundreds of transactions, houses both new and old, as investors, agents and builders.

If there is one thing that stands out about the business, it is the people. We believe PEOPLE are the real business and we take great pride in our long term relationships with all our customers. Homes are often one of the most important decisions a family will make. We have the unique experience to see how to best serve our clients through our comprehensive knowledge of homes, renovations, financing and most importantly families. Trust us with your real estate needs. We will love to give you our attention. You will be impressed with the results!

With love,

The Colorado Home Trust Team

Owning a House Matters



“Owning a House Matters”
An article on the financial well-being of becoming a homeowner
This is a visual representation of the Median Net Worth of homeowner’s versus their non-homeowner counterparts and is also a great example of how ones equity and wealth can drastically improve during the process of becoming a homeowner.

This shows over a 30-to-1 net-worth advantage in favor of homeowners. Anticipating the sharp readers who will argue that this could be demographics (e.g., older people, more educated people, families, or high-income people are more likely to own houses), I looked further. Households headed by folks under age 35 have a median net worth that’s about double the $5,100 median net worth of non-homeowners. Households headed by folks with no high school diploma have saved more than triple what the non-homeowner has. So have single folks with no children. And, yes, even families in the bottom 20% of income have more net worth than the non-homeowner.

Pretty darn stunning.

We can speculate on why this is. I subscribe to the simple, classic argument in favor of homeownership. Each month, homeowners are automatically squirreling away the principal portion of their mortgage payment — as opposed to the renter, whose whole rent is an expense. People sometimes forget that the alternative to a mortgage is paying rent (not investing in the stock market) when they argue that home prices barely keep up with inflation.

As for the hidden costs of homeownership, I think a greater percentage of us than we’d like to admit end up blowing the money anyway — on fancier vacations, or extra glasses of wine on nights out, or living in a more upscale house or neighborhood, or shoes, or playoff tickets, or whatever it is that keeps our median net worth at just $77,300.

Don’t misunderstand me. This isn’t a call to arms for everyone to jump willy-nilly into one of the biggest, most complicated financial decisions of their lives. The harrowing stories from the housing bubble showed us what happens when we buy when we don’t have enough income or savings, overpay, or don’t do our due diligence. There are also non-financial reasons that buying a house just doesn’t make sense for some people.

And nothing I’ve written should be interpreted as a justification to buy that expensive rug instead of putting a little extra into your 401(k).

This is just a reminder that there are many theories on the other side, but the real-world numbers greatly favor buying versus renting when all else is anywhere close to equal.

What Is My House Worth? Let’s Crunch Numbers



Let us help you out.

So you’ve decided to sell, or maybe just considering selling your Colorado Springs house. Do you have an inherited property that is a vacant house or a rental property? Is it free and clear or is there a mortgage still attached? At Colorado Home Trust, LLC we have seen them all.

You want to know how much you can sell your property for or are asking yourself, “how much is my house worth?” It depends!

If you would like to sell now or sell fast, that generally means you want to cut through the red tape and just sell quickly for cash. Maybe you are the executor or personal representative for an estate and are looking at your options, maybe you are an estate attorney looking for an expedient solution to liquidate an estate property to pay for necessary legal and administrative expenses. For a fast sale, ideally you will be able to sacrifice a bit of equity for the speed and convenience of the sale of the home, but if you want to sell quickly and still get top dollar there are additional strategies that we can discuss that will give your more net dollars, but require additional time and effort on your part.

But first, let’s discuss a cash offer for your home.

When you are considering a quick sale or want to sell your Colorado home fast, you must realize that you will probably be asking a professional home buyer to evaluate your property in order to make a cash offer on your home. The “We Buy Houses” or “We Buy Ugly Houses” crowd will probably be your first choice. Most of these professionals are experienced home buyers and are very familiar with evaluating a house with an eye to purchasing correctly for cash in order to rehabilitate or “rehab” the property and bringing the property back to market as a renovated property.

They are part of a network of real estate professionals which include investors, private lenders, as well as reputable contractors who will eventually help them renovate the property to retail standards. If your property needs extensive repairs because of it’s current condition, the cash buyer will have to take precautions to allow enough room in the “deal” to make a modest profit.

As a rule of thumb, even the most experienced investors will have to account for 10% resale costs, 10% funding costs, as well 20-30% for all repairs needed for getting the property “Ready for Prime Time” or introduction to the retail market place again.

Considering all the variables, it’s easy to understand why a cash offer must include these risks and costs from the beginning. Once the numbers have been crunched, a typical investor can close very quickly, often on a date of your choice. They can do this because of their relationship with a group of professional local private lenders who specialize in originating secured real estate backed loans to investors.

On the other hand, you may want to contact a Realtor to find out how much your home is worth.

Realtors are in the business of representing or listing your property for a fee. Many are quite experienced at evaluating your home from the perspective of a listing agent. They do this by researching the Multiple Listing Service (MLS) in order to evaluate comparable sales to your property. Generally speaking they do not invest anything other than their experience and time in order to sell your home. Many of their clients are first time home buyers who may or may not be qualified to purchase the house even after placing an offer. The most experienced Realtors have been around long enough to have their clients qualified before shopping, but still are NOT the buyer for your property. They must wait for the RIGHT client at the RIGHT time with the RIGHT credentials to purchase your property.

This could take a while. 

Colorado Home Trust can quickly evaluate your property and purchase your property for cash usually on a date of your choice. After a quick inspection and market analysis, we will know how much your home is worth to a professional home buyer.  Consider the value of receiving a guaranteed cash offer for your property and close on a date of your choice. It doesn’t get any easier than that!

What is My House Worth? Let’s Crunch Numbers (719) 203-9500

Make Your For Sale Sign Fly Away



The improving Colorado Springs-area housing market showed no signs of slowing last month, as home sales soared and prices jumped to their highest levels in six years and people are selling their homes fast.

Local single-family home sales totaled 1,104 in June, a 30.5 percent increase over the same month last year and the highest number of home sales for any June since 2007, according to a report by the Pikes Peak Association of Realtors.

For the first half of 2013, single-family home sales totaled 5,336, a 25.1 percent increase over the same period last year, the association’s report said. It was the market’s best first-half performance in terms of sales since 2006.

Of homes that sold last month, the median – or mid-point – of all sale prices was $225,000, a 6.5 percent year-over-year increase and the highest median price for any month since $227,000 in July 2007.

Rent to Own Buyer Checklist (Part 2)



 

Stay Focused and Have Fun!

Don’t get me wrong, it can be simpler than you had imagined. Remember, everyone involved – Seller, Mortgage Broker, Credit Counselor, as well as your Rent to Own specialist are ALL pulling for you. When it all works it can really be fun to watch your finances improve and your credit score skyrocket!

When you give Rent to Own a chance to change your life, remember only YOU can make the changes necessary to create a positive impact on your circumstances. A Rent to Own Home could easily be the best decision you’ve ever made.

For starters, you will have a home, you will have equity and you will have a growing investment. You will be happier. But remember, there is no “get of jail free card” in real life and that luck is a combination of hard work and opportunity.

With proper diligence and care you can be well on your way to a very favorable housing investment. So get busy and know that we’re here to help at every point you need!

Stayed tuned on how to protect your new investment in future posts.