An open stairway leads to the oversized master suite with a walk-in closet, double vanities, and an attached master bath. A cozy alcove is perfect for reading or play, and an additional upper level bedroom has its own private bath and generous windows.

The walk-out lower level has a 2nd family room, a beautifully tiled bath with walk-in shower, and a lower level bedroom offering quiet privacy for family or guests. A huge laundry/work room provides plenty of storage space.

Located in a quiet community with walking trails and parks just outside of beautiful Woodland Park, this immaculate home is a gem to see! Call Scott at (719) 659-2630 for more information, or email scott@HugerGroup.com

5 fenced and cross-fenced grazing pastures surround the stunning custom home with multiple patios and decks, cathedral ceilings, arched doorways, warm Brazilian hardwoods, floor-to-ceiling rock fireplaces and wood-burning stove, formal living and dining areas, luxurious master suite, and a gourmet kitchen designed with a chef in mind. A walk-out lower level is a retreat in itself with separate living areas and a guest apartment, and provides privacy and accessibility for guests and family. An incredible outdoor living space overlooks the ranch and breathtaking mountain views, and includes a hot tub, firepit, and outdoor barbeque area.

Currently home to world champion horses, the Pura Vida Ranch offers expansive ranch facilities for the equestrian enthusiast and significant appeal to the recreation owner, rancher, and investor alike. Three-rail vinyl horse fencing surrounds the entire 35 acre gated property with evergreens and deciduous trees, native grasses, hay pastures, riding trails, rolling hills, and breathtaking views. 38 shares of Shamrock Irrigation Colorado water flows through the property. Facilities include an expansive 75’ by 125’ indoor riding arena, heated barns including stalls and runs with automatic waterers and a stud or mare barn, a 65′ x 40′ shop/garage/office with guest quarters and kitchenette, loafing shed and hay and equipment storage, round pen, tack rooms, corrals, 5 separate pastures, carriage house, heated garages, and RV/boat parking.

This exclusive property is located minutes from Fort Collins, Colorado, which has been ranked by Money Magazine as a Best Place to live in 2006, 2008, and 2010. Situated on the Cache Le Poudre River along the Colorado Front Range, Fort Collins is also home Colorado State University and research facilities. Denver and the Denver International Airport are an easy 1 hour drive away.

See the Property Auction Site at http://www.ColoradoRanchAuction.com

For more information and property photos, please contact Scott Huger at (719) 659-2630 or email scott@HugerGroup.com.

Both 30- and 15-year mortgages reached record lows

Long-term mortgages were introduced to the U.S. market in the 1950s — and the 3.83 percent average for a 30-year loan reported by Freddie Mac last week is the lowest rate recorded since then.

The average for a 15-year mortgage dropped to a record low of 3.05 percent.

First quarter home sales highest in five years

According to NAR, home sales in the first three months of 2012 were the highest of any first quarter since 2007.  Home sales increased 4.7 percent from the fourth quarter of 2011 and were up 5.3 percent year over year from the same period in 2011.

Loan fees and delinquencies dropping too

Last week, the average fee for 30-year loans dropped from 0.8 to 0.7, although the fee for 15-year loans remained steady at 0.7.

At the same time, homeowners behind on their mortgage payments reached the lowest level in three years — only 5.78 percent of borrowers were late on payments for the first quarter of 2012. This is down from 6.19 percent year over year from 2011, and from 6.01 percent the quarter prior (the last quarter of 2011).

Via The Washington Post Blogs and Mortgage News Daily.

New foreclosures down more than 30% year over year

For months, economists and industry experts have been predicting a flood of foreclosures to upset the housing market once bank settlements and other distressed mortgage initiatives were ironed out. As it turns out, however, the March Mortgage Monitor report issued by LPS shows that although new foreclosures for March are up 8.1 percent over February, they are down 31.1 percent from the same time a year ago. (via Lender Processing Services)

Completed foreclosures down nearly 20% from last year

CoreLogic’s monthly foreclosure report shows that there were 69,000 completed foreclosures in March, compared with 85,000 last March — a decrease of 18.8 percent. According to CoreLogic’s CEO, the reduction in completed foreclosures, given that the foreclosure inventory is also shrinking, “suggests that loan modifications, short sales, deeds-in-lieu are increasingly being used as an alternative to foreclosures to clear distressed assets in our communities. This is what was envisioned with the recent National Foreclosure Settlement, and can often be a better outcome for both borrowers and investors.” (via CoreLogic National Foreclosure Report – March 2012)

Short sales outpace foreclosure sales

For the first time, it appears that lenders are finally catching on to the idea that “short sales should be the dominant way of disposing of assets [in distress],” as Jonathon Weiner of Lender Processing Services puts it. In January 2012, short sales were 23.9 percent of home purchases, while foreclosed homes accounted only for 19.7 percent. A year ago, foreclosures were 24.9 percent while only 16.3 percent of home sales were short sales. Weiner also observed that the growing preponderance of short sales is a positive sign that the country is finally making real progress working through its overwhelming inventory of distressed properties — and could be a sign that home prices will bottom out this year. (via Bloomberg Businessweek)

An open 2-story entry welcomes you to formal sitting and dining areas with arched windows and warm hardwood floors. The custom gourmet kitchen offers generous cabinetry, slab granite countertops, stainless steel appliances, oversized bakers island, double ovens, and an inviting breakfast bar perfect for casual dining. The nearby tiled sunroom has a spacious eating nook and opens to a redwood deck overlooking the private rear yard and breathtaking city lights. An adjoining open living area has 2-story cathedral ceilings with walls of windows, a wet bar, and a warm gas fireplace perfect for cool Colorado evenings.

The spacious main-level master suite features an attached 5-piece bath and an oversized walk-in closet, and looks out on the tree-shaded rear yard. Three additional bedrooms grace the upper level, and an upper level catwalk overlooks the spacious living areas below.

The beautifully finished walk-out lower level has a large family room which opens to a back patio. A separate lower level guest suite and bath offer quiet privacy for guests and family.

Additional home features include air conditioning, new windows and sills throughout, new exterior doors and keyless entry, new garage door, exterior motion detector lights, updated fixtures and electric, and low maintenance landscaping. All this on a quiet cul-de-sac within walking distance to award-winning District 12 schools. See this immaculate home today! Call Scott at (719) 659-2630 for more information, or email scott@HugerGroup.com

S&P/Case-Shiller Report Reports 0.2% Rise

According to the S&P/Case-Shiller report released last week, the composite index for 20 metropolitan areas gained 0.2 percent this February when seasonally adjusted — meeting forecasts made by economists. The rise is the first increase since April of last year. S&P’s index committee chairman noted that the news was a mix of good and bad news — prices in some areas continue to decline, and without the seasonal adjustment, the 20-city index was down 0.8 percent to reach 134.20, the lowest it’s been since 2002. (via Reuters)

Barclays Capital sees first signs of price increases

Analysts from Barclays Capital consider the 22 pecent order growth seen by homebuilders in the first quarter of 2012 as an early sign of the market beginning to see price increases return. The managing director of Barclays’ homebuilding division said that Phoenix, Denver, Orange County, CA, among others are seeing pricing comebacks. Three builders concurred with that perspective — Lennar, Meritage Homes and Ryland Group have reported the strongest order growth across both location and buyer type. Other homebuilders, D.R. Horton, PulteGroup, and M/I Homes also showed order growth, but without the same strong feeling for the trend to continue.

It’s possible that the last 12 to 24 months of increased investor activity buying existing homes has raised consumer demand for new homes. If so, that could mean good news for the homebuilding sector and the housing market. (via Housing Wire)

The gourmet kitchen features rustic birch cabinets with crown molding, solid granite countertops, hardwood floors, and stainless steel appliances.  A formal dining room with arched doorways and a great room with soaring ceilings are ideal for entertaining, and an additional main-level bedroom or study offers convenience.

The walk-out lower level can be finished to include 2 or 3 additional bedrooms and a grand family or media room.  Additional home features include oil rubbed bronze lights and faucets, cut Berber carpet, low maintenance stucco exterior, 6-panel doors with wood trim, covered front porch with stucco columns, 50-year asphalt dimensional shingles and an oversized garage.

 Nestled above Colorado Springs in sought-after Pinecliff community, this exquisite home offers sweeping Front Range and city views, abundant wildlife, and a serene setting.  Hike in nearby Ute Valley Park, enjoy award-winning D-20 schools, and have easy access to I-25 and downtown – a rare find for a custom home or investment.  Call Scott Huger at (719) 659-2630 for more information, or email scott@HugerGroup.com

The main level boasts a two-story vaulted foyer with stained glass, and hardwood floors flow to formal living and dining areas with panel molding, tiered ceilings, and leaded glass windows. The spacious kitchen offers slab granite, stainless steel appliances, gas stove, generous counter bar, and an eating nook nestled in front of a sunny bay window. The adjacent main level family room has a floor-to-ceiling brick fireplace and an extensive wet bar perfect for entertaining, and overlooks the outdoor patio and the shimmering 16’x36’ heated swimming pool.

An open staircase leads to a luxurious master suite with a separate dressing room, enormous walk-in closet, and a private deck overlooking mountain and bluff views. The 2-room attached master bath boasts a step-up corner soaking tub, oversized stand-alone shower, and double vanities with abundant countertop space. 2 additional upper level bedrooms suites have private attached baths, and the open loft offers space for an office, library, or media room.

The professionally finished lower level has a huge great room with an additional floor-to-ceiling brick fireplace and a 2nd custom wet bar, and the separate bedroom suite/office provides quiet privacy for guests or family.

Additional home features include built-ins, new carpet, skylights, 6-panel and pocket doors, lush landscaping, and an oversized three-car garage with workshop. All this in Broadmoor Hills and award-winning District 12 schools! Call Scott Huger at (719) 659-2630 for more information, or email Scott@HugerGroup.com

Affordability at 40-year high

Judging housing affordability by the relationship between median home price, median family income and average mortgage interest rates, the National Association of Realtors (NAR) says that homes are the most affordable they’ve been since record-keeping was started more than 40 years ago.

According to the president of NAR, for the first time ever the affordability index has broken two hundred — meaning the average family has roughly twice the income required to purchase a median-priced home.

Owning less than renting

Marshall Vest, author of the the Eller College of Management’s 2012-2013 Economic Outlook Report (updated quarterly) notes that affordability in Tuscon, AZ in 2012 has been so high that on a monthly basis, owning a home can cost the same or even less than renting one.

It is still a tough market— tight credit for builders and buyers alike along with ongoing issues obtaining accurate appraisals continue to slow recovery and constrain the market to the most qualified and determined buyers.

(via The Arizona Daily Wildcat and Realty Times)

There are now 35 states represented on the Improving Markets Index — tracked and reported by the National Association of Home Builders (NAHB) and First American Title Insurance.

To make the “improving market” list, a metropolitan area must show continuous improvement for six months in three areas:

• Housing permits (data from U.S. Census Bureau)
• Employment (data from the Bureau of Labor Statistics reports)
• Home prices (data from Freddie Mac reports)

This month’s index shows 101 metro area markets on the list in 35 states — a significant increase from the 12 markets that appeared on the list last September when the index was launched. Of the markets on the list from the previous month (March), 88 stayed steady, while 11 areas were dropped and 13 areas added.

“While housing markets across the country continue to struggle under the weight of overly tight lending conditions and other challenges, the April IMI indicates that at least 101 individual metros are showing measurable and consistent signs that they are headed in the right direction,” said NAHB Chairman Barry Rutenberg. “A total of 35 states are now represented on the list, with 10 states having four or more entries. This positive news is in line with what our builder members have observed regarding firming conditions and improved buyer interest in certain locations.”

It’s important to remember that the index focuses on improving markets, notes NAHB’s chief economist — as markets stabilize, their performance in the three areas tracked by the index will be less likely to improve from the previous month, which will drop them from the list.

For more on the Improving Markets Index, visit NAHB’s IMI page here.