A 2-story entryway welcomes you inside to the open living and dining areas with wood floors and a warm fireplace enjoyed by both rooms. The spacious tiled kitchen boasts abundant cabinetry and a breakfast bar for casual dining, and glass doors step out to a private fenced deck. A large tiled laundry room offers plenty of storage space.

An open stairway leads to the upper level, and French doors open to the oversized master suite with cathedral ceilings, skylights, arched doorways, a huge walk-in closet, and a window seat nestled against a large bay window. The attached 5-piece master bath boasts a soaking tub, plant and art ledges, a glass and tile shower, double vanities, tile flooring, and a separate linen closet. Two additional spacious bedrooms on the upper level share a full hall bath.

Enjoy an excellent location with mountain views near shopping, schools, parks, and military bases. Call Scott Huger at (719) 659-2630 for more information, or email scott@HugerGroup.com

We have seen pockets of areas where home values have been impacted by short sales and foreclosures, but overall the El Paso Public Trustee has reported a 10% decline in New Foreclosure Starts year-to-date in 2010 compared to 2009. This is good news for area home values, since banks typically sell foreclosed properties at a discount which can bring down the value of neighboring homes.

The Pikes Peak Association of Realtors also shows a steady increase of average home sales prices from February, 2010 to August, 2010 – See the complete chart at: http://www.ppar.com/Statistics.aspx

If this trend continues, it may indicate a slow strengthening of the market for home sellers. Record low interest rates as well as federal tax incentives for first-time homebuyers (which expired for non-military buyers this year) have helped spark local home sales, especially in specific price ranges.

General housing market statistics, even local city and county information, doesn’t always apply to specific neighborhoods. In our local housing market, home values and sales can differ dramatically from neighborhood to neighborhood. Call or email us if you would like market activity information and home values for your area of town, or an updated list of neighborhood homes for sale with details and list prices. We’re happy to help.

Scott and Marni

Home sales are continuing to stabilize.  The Pikes Peak Association of Realtors reports a 12% increase in single family home and patio home sales over last year, and an average home sales price increase of 3.9% over last year’s sales prices.  Our local housing market is still a buyers’ market, but competitively priced homes for sale are moving.

Local residential construction benefited from the first time and trade-up home buyer tax credit (which ended earlier this year), and show slow recovery in new residential construction.

The El Paso Public Trustee has reported a slow decline in the number of area foreclosures, with the 2010 year to date number of new foreclosures down 9% from the previous year.  Visit http://elpasopublictrustee.com/AllReports.aspx for more area foreclosure information.

Interest rates continue to be at all time lows, giving home buyers a great incentive to buy sooner rather than later.

Days on the market for area homes are improving, with the average days on market for all homes at 78 days.  Higher priced homes, however, continue to have longer days on market:  Homes priced between $500,000 – $849,900: average 206 days on the market before closing.  Homes priced above $850,000: average 329 days on the market before closing

We had hoped that our local real estate market would be helped along by the more than 2500 soldiers who have returned home in the past month.  Yet according to Colorado Springs Chamber of Commerce Military Affairs Council President Brian Binn, almost 10,000 of the 25,000 active-duty soldiers stationed at Fort Carson will be deployed by October of this year.  That’s one of the biggest deployments in the area’s history.

Employment numbers for the area are also looking up.  Colorado Springs Regional Economical Development Corporation reports that the latest employment numbers for April, 2010 indicate employment conditions began improving in January 2010.  Since January, employment numbers increased by 4545, while the number of unemployed decreased by 1341. 

It continues to be an excellent time to buy a home in the Colorado Springs and Pikes Peak area, and a good time to sell if the home is priced well. Please feel free to contact us anytime if you would like market information on specific neighborhoods.

Thanks!
Scott and Marni

As we have seen in previous years, the majority of home sales are occurring in homes priced under $200,000. Homes priced over $300,000 are not moving as quickly. The Pikes Peak Association of Realtors reported the following home sales statistics for March, 2010:

Total Homes Sold in El Paso County: 651

Homes Sold by Price:

$0 – $199,999: 358 Homes Sold (55% of Total)
$200,000 – $299,999: 174 Homes Sold (27% of Total)
$300,000 – $399,999: 72 Homes Sold (11% of Total)
$400,000 – $499,999: 26 Homes Sold (4% of Total)
$500,000 and up: 21 Homes Sold (3% of Total)

Historically, spring and summer months have brought increases in sales in all home price ranges, as well as overall decreases in days that a home is on the market.

There has been a slight increase in mortgage interest rates, although rates are still at extremely low levels. VA and FHA loans continue to be popular loan choices for home buyers. In El Paso County, FHA loan amounts are limited to $325,000 and VA loan amounts are limited to $417,000.

It continues to be an excellent time to buy a home in the Colorado Springs and Pikes Peak area. Please feel free to contact us anytime if you would like market information on specific neighborhoods.

Thanks!
Scott and Marni

The number of single family homes for sale continues to decline, which has begun to stabilize home prices and decrease the housing glut. Total home sales in December of 2009 exceeded home sale in December of 2008, and the number of days that homes for sale are sitting on the market is declining.

Continued record low interest rates as well as extended federal tax-incentives for both first-time home buyers and move-up/move-down homebuyers have helped spark area home sales, especially in specific price ranges. It is an excellent time to buy.

Economic information presented on January 7th, 2010 at the annual Colorado Springs Economic Forecast shows projections of increased employment rates, average wages/salaries, and single family housing permits in 2010 compared to 2009.

As a side note, Colorado Springs has been ranked in the top 3 cities for Housing Recovery by Forbes.com, ranked 28th in the top Best Places To Live from CNN Money, and ranked 7th in the top places to Raise an Outdoor Kid by Backpacker Magazine.

Please feel free to contact us anytime if you would like market information on specific neighborhoods.

Thanks!
Scott and Marni