Business and economics |

Here’s a bit of good news, wrapped in the obligatory negative headline. This is from the Colorado Springs Business Journal. This talks about what we already knew, here in Colorado Springs we are holding steady.

The real drama is playing out on the coasts and in the rust belt.

Housing permits drop below 1991 levels

Single-family permits in northeast, midwest and western regions of the country are below their respective 1991 levels, and the South is well on its way to a similar decline.

Read the rest of this entry »

The June numbers are out and the month actually looked good. This is normally a busy month so we’re going to chalk a lot of this up to a normal seasonal activity spike.

Still, this is great news and we’ll keep our fingers crossed. Here are the important overall numbers. We’ll drill down into some of the area in the coming days:

Single Family/Patio Home Sales: 867 Listings Sold (that’s up 27 sales from May)Median Sales Price: $223,000 (that’s up $13,000 from May)Average Sales Price: $256,829 (that’s up $5,286 from May)Average Days on Market: 91 (This one is up from May by 3 days)

Read the rest of this entry »

Here is a quick overview of weekly showing activity from the ERA Shields front desk from June 23rd.- June 29th. , 2008

Showing Total ( Mon – Thurs ) 172Weekend Showing Total ( Fri – Sun ) 96Total Showings for the week-268

These numbers are down from the previous week. Click Here to look at last weeks report.

Share this post:These icons link to social bookmarking sites where readers can share and discover new web pages.

Read the rest of this entry »

Here is a quick overview of weekly showing activity from the ERA Shields front desk from June 16th - June 22, 2008

Monday through Thursday- 132 showingsFriday, Saturday & Sunday- 124 showingsTotal Showings for the week-274 showings

These numbers are up from the previous week, the weather was good and it was a quiet week, socially.  Here’s a look at last weeks report Click Here

Share this post:These icons link to social bookmarking sites where readers can share and discover new web pages.

Read the rest of this entry »

Here is a quick overview of weekly showing activity from the ERA Shields front desk from June 9th - June 15, 2008

Monday through Thursday- 137 showingsFriday, Saturday & Sunday- 124 showingsTotal Showings for the week-261 showings

These numbers are off from the previous week, I’m thinking since it was Fathers Day, Dad’s caught a break. Here’s a look at last weeks report Click Here

Share this post:These icons link to social bookmarking sites where readers can share and discover new web pages.

Read the rest of this entry »

Colorado Springs Home Buyers generally hope to find a home that has been well maintained and is reasonably priced. The pricing side of the equation starts to become apparent after looking at several houses but the maintenance isn’t always quite as clear. In a mad dash to put the home on the market, home sellers will often try to make up for years of neglect in a few short weeks in order to put their best foot forward. Here is  quick list of items to look for when viewing homes, items that might indicate there are some deferred maintenance issues.  This doesn’t necessarily mean the home isn’t a good buy, it’s just more information to keep in mind while preparing your offer and at the time of inspection.
Read the rest of this entry »

Absorption Rate is defined as an estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied during a specific time frame.

The East MLS area holds strong in the #1 position for the third month in a row. While those “higher-end” areas consistently dwell in the single to low double digit range.

AreaAbsorption RateEast21%Powers19%Briargate18%Northeast17%Central16%Fountain Valley16%Southeast15%Falcon14%Northwest14%Ute Pass14%West14%Old Colorado City13%Southwest12%Black Forest10%Woodland Park10%Manitou Springs9%Tri-Lakes8%Northgate8%Peyton8%

Read the rest of this entry »

The last weekend of May 2008, has officially been the busiest weekend for showings in the Colorado Springs Real Estate market, Year to date. Our market generally picks up after the Air Force Academy Graduation but it’s usually a gradual crescendo. This Weekend felt a lot more like the release of pent up buyer demand.

More good news as a lot of the interest and activity is in the $300,000 to $500,000 price range. This has been, as stated in earlier posts the Dead Zone. Is it time to start celebrating? Probably not but it’s just nice to see some activity. As we’ve said earlier, if you are a Buyer and you’re waiting for the market to hit bottom, you may have missed that opportunity, Cyril Moulle-Berteaux certainly thinks you have. If on the other hand you are selling or considering selling NOW would be the time to get your home on the market.

Read the rest of this entry »

THE RULES:
There are many rules in a fluid real estate market, but here are a few that we believe hold true IN ANY MARKET (one favoring buyers; one favoring sellers; it does not matter):

•LOCATION, LOCATION, LOCATION
•MONEY IS MADE ON THE BUY
•SELLERS SET ASKING PRICES; BUYERS DETERMINE VALUE
•BUYERS BUY VALUE
•CONTINGENCIES CLOUD NEGOTIATIONS (THE MORE “IFS” THE FEWER DOLLARS)
•THE HARDEST THING TO GAIN IS TRUST; THE EASIEST THING TO LOSE IS TRUST
Read the rest of this entry »

Absorption Rate is defined as: An estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied during a specific time frame.

This is an important number for Buyers because it gives you a general ideal of the market conditions in a given area. Equally important for Sellers as it is a good indication, (when used in conjunction with our pricing grid) of what to expect in terms of “Days on Market”. Higher rates are an indicator of better market conditions.

Read the rest of this entry »