Real Estate Information Archive

January 30, 2012

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

WHAT CAN WE DO FOR YOU THAT THE INTERNET CAN’T?

Many people who are looking for a home today are accustomed to finding everything they need on the Internet. Admittedly, the Internet is a fantastic tool for finding everything from a receipe for brownies to a picture of your long-lost uncle. It can help you sell your car and buy a new one.

But, when it comes to real estate, although the Internet can show you listings for the 3225 homes that are for sale in the Pikes Peak area, it cannot tell you about one of the most important factors that should influence your decision to buy, namely the neighborhood.

What kind of ‘neighborhood’ information are we talking about? Well, you should know about the current sales in the neighborhood you are looking at. How well have sales prices held up compared with adjacent neighborhoods? Do the homeowners tend to move in and out frequently, or, are they long-term neighbors? Have prices tended to go down or up in recent years? Are most of the people in this neighborhood retired or young families with lots of small children?
How about the schools …Are they good or not-so-good?

This is the kind of information that could determine whether you will be happy or not in your new home. And it’s the kind of information that you can’t get from the Internet. In fact, you can’t get it from a Realtor who hasn’t been around for a while.

That’s where we can be of assistance to you. We have been active in every neighborhood in the Pikes Peak area for 40 years and are familiar with the ‘personality’ of ever neighborhood in the area. We can show you the market-value trends within each neighborhood and the pros and cons of the various locations within the area. In real estate, there is no substitute for experience …and that’s where we shine.

Give us a call at 598-3200 or 800 677-6683, to discuss your needs. You can’t get this kind of help from the Internet !!

EXISTING-HOME SALES SHOW UPTREND IN DECEMBER

Existing-home sales continued on an upward trend in December, rising for three consecutive months and remaining above a year ago, according to the National Association of Realtors.

The latest data show home sales rose 5% in December, prompting Lawrence Yun, NAR chief economist to state, “The pattern of home sales in recent months demonstrates a market in recovery. Record-low mortgage interest rates, job-growth and bargain home prices are giving more consumers the confidence they need to enter the market”.

For all of 2011, existing-home sales rose 1.7% to 4.26 million from 4.19 million in 2010.

NAR President, Moe Veissi states, “The American Dream of homeownership is alive and well. We have a large pent-up demand, and household formation is likely to return to normal as the job market steadily improves”.

Can we have an “Amen” to that ??

TWO MAJOR BANKS SLASH FORECLOSURE SALE TIMELINES

JPMorgan Chase and Wells Fargo trimmed their foreclosure timelines by as much as 100 days in the third quarter of 2012, helping to work though the major backlog of foreclosed homes, according to Moody’s Investor Service. This streamlining of the foreclosure process will come as welcome news to many prospective homebuyers who have been discouraged by the excessive time involved in obtaining bank approval for offers on homes in foreclosure. However, the foreclosure process can still take longer than many homebuyers are willing or able to accept.

We encourage prospective Buyers to contact us about any foreclosed properties they might be considering. In many cases we will be able to work with the lender to speed up the process, or, we might be able to find comparable homes that are not encumbered by the lengthy foreclosure process.

Call us at 598-3200, or, 800-677-6683 (MOVE).

HOUSING INVENTORY DOWN 22% FROM YEAR-AGO LEVELS

Realtor.com (Jan. 25, 2012) announced that the national inventory of for-sale single-family homes, condominiums, townhouses and co-ops dropped by 22.29% over the last year.

They also note that median list prices, which have remained essentially unchanged since June, are up by 5.03% nationally, on a year-to-year basis.

Each of these developments can be viewed as “a positive sign that the housing market is holding its own at the national level”, according to Realtor.com.

We should also point out that, as inventory shrinks, prices tend to rise (The old law of ‘supply and demand’), so, call us to get started on the search for your new home, before prices get any higher.

SOME MORE EXAMPLES OF THE POSITIVE TRENDS IN THE ECONOMY

• COLORADO’S UNEMPLOYMENT RATE DIPPED TO 7.9% IN DECEMBER, down one-tenth of a percentage point from the month before and a full point from the 8.9% in December 2010.
• FOURTH QUARTER U.S. GROWTH RATE OF 2.8% IS FASTEST IN 18 MONTHS, according to the Wall Street Journal. (Jan 28-29, 2012)
• DISPOSABLE INCOME ROSE FOR THE FIRST TIME SINCE EARLY 2011. (WSJ Sunday Jan. 28-29, 2012)
• CONSUMER SPENDING PICKED UP 2% IN THE FOURTH QUARTER. This compares with a 1.7% rise in the third quarter. Consumer spending represents about 2/3 of demand in the economy.(WSJ)
• Investment in residential and commercial real estate, equipment and software and inventories was up 20% in the fourth quarter (WSJ, Jan. 28-29, 2012)
• EXPORTS OF GOODS AND SERVICES WERE UP 4.7% IN THE FOURTH QUARTER (WSJ)
• IMPORTS OF GOODS AND SERVICES WERE UP 4.4% IN THE FOURTH QUARTER (WSJ)
• HOUSEHOLD SECTOR SPENDING ON GOODS AND SERVICES WAS UP 2% FROM THE THIRD QUARTER (WSJ)
• BUSINESSES INVESTING MORE AND LAYING OFF FEWER WORKERS (The Gazette Friday, Jan. 27, 2012) “Government figures released Thursday show that business are spending more on new equipment, inventory and capital investments", said Carl Riccadonna, an economist at Deutsche Bank. “The economy is growing and industrial capacity has not kept up”,
• HOMEOWNERS ARE SPENDING MORE MONEY ON FIXING UP THEIR HOMES. For example, Home Depot shares are up 58% since August. This matches their earnings multiple of January 2005, when the housing bubble was in full swing.

In the three months ended in November, home-improvement spending was 4.3% higher than a year before, according to the Census Department.

MORTGAGE INTEREST RATES NOT SCHEDULED TO RISE UNTIL LATE 2014… AT THE EARLIEST

(Wall Street Journal, Thursday, Jan. 26, 2012) Federal Reserve officials said they expect to keep short-term interest rates near zero for almost three more years. That’s good news for both Buyers and Sellers of real estate.

The Fed also announced they might take more action to support the economy, if inflation stays under control and if recovery slows. A bond-buying program to push down long-term interest rates could be the next step.

However, keep in mind that, although mortgage interest rates are staying low, other charges and fees could increase the cost of buying a home, so, don’t delay your decision to get into that new home.

Call us at 598-3200, or 800 677-6683 (MOVE) to discuss this.

NAR SURVEY LOOKS AT FIRST-TIME BUYERS

The National Association of Realtors has issued its 2011 Profile of Home Buyers and Sellers. Their survey of First-Time Buyers shows some interesting facts about those entering the real estate market for the first time. When compared to all Buyers, First-time Buyers tend to:

• Focus more on the monthly mortgage payment
• Focus more on convenience to friends and family
• Focus more on proximity to entertainment and leisure activities
• Rate energy-efficiency high on their list, but are not willing to spend an extra $20,000 just to get solar panels
• Be more willing to compromise on space. They will accept a smaller laundry room, without an attached mud room, a smaller master bedroom and a smaller walk-in closet. ….The median-size of first time buyers’ homes is 1,570 sq.ft.

But the one thing First-Time Buyers aren’t willing to compromise on …Buying a home that needs a lot of repairs.

First-timers don’t have any experience with home maintenance and tend to be afraid of renovations, so,… Sellers take note …Be sure to fix everything you can and make minor home improvements, if you want to appeal to First-Time Buyers.

ARE YOU RENTING? …MAYBE YOU SHOULD THINK ABOUT BUYING !!

RealtorMag points out that the U.S. average for asking rents in 2011 came in at $1.061 per month.

If you are renting, and paying anything near that figure, you should give us a call to discuss buying a home. There are great homes out there that you could be living in and be paying less per month …and getting a break on your income taxes as well.

Call us at 598-3200, or, 800 677-6683 (MOVE).

SALES AND LISTING STATISTICS

CLICK HERE to see the latest sales and listing statistics for the Pikes Peak are, issued by the Pikes Peak Association of Realtors and be sure to call us, if you have any questions about the data.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Call us at 598-3200,or, 800 877-MOVE (6683).

JOKE OF THE WEEK

Bob was in trouble. He forgot his wedding anniversary. His wife was
really pissed.

She told him "Tomorrow morning, I expect to find a gift in the
driveway that goes from 0 to 200 in 6 seconds AND IT BETTER BE THERE !!"

The next morning he got up early and left for work. When his wife woke
up, she looked out the window and sure enough there was a box
gift-wrapped in the middle of the driveway.

Confused, the wife put on her robe and ran out to the driveway, brought
the box back in the house.

She opened it and found a brand new bathroom scale.

Bob has been missing since Friday.

January 16, 2012

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

PPAR RELEASES YEAR-END real estate STATISTICS

The Pikes Peak Association of Realtors has just released the 2011 Sales and Listing statistics for the Pikes Peak area. Here are some of the more significant statistics contained in this year-end PPAR report:

• The total number of single-family home sales in 2011 was up 3.3% over 2010 (8459 vs. 8185)
• The number of home sales in December of 2011 (651) were 3.5% higher than December of 2010
• 2011 was the sixth-straight year of year-over-year increases in sales
• The average sales price for a home in 2011 was 4.9% less than in 2010 ($217,829 vs. $229,152)
• Our “For Sale” inventory as of Dec.31, 2011 was 24.1% less than it was in 2010 (3285 vs. 4327)
• In December of 2011, the typical local home sold for 97.5% of the Sellers’s listing price.

One big reason for the reduction in inventory is probably that many Sellers have removed their homes from the market, either because they were not highly motivated to sell, or, because they were not willing to list their homes at a realistic price.

The current 2.5% difference between listing prices and sales prices indicates that today’s Sellers are being more realistic about their expectations. Because “All real estate Is Local” you would be wise to consult with a qualified Realtor who has experience in your specific neighborhood, before you list your home. We would be happy to assist you with that task.

If you would like to find out what a realistic selling price for your home would be in today’s market, just give us a call. We would be happy to discuss a realistic price for your current home, for your next home, or for an investment property. Call us at 598-3200, or, 800-677-6683 (MOVE). There are a lot of excellent deals out there right now.!!!

All-in-all, the year-end numbers give us reason to believe that 2012 will be a better year for real estate than 2011 was. The statistics and the experts agree that 2012 should show a modest rise in sales and prices (probably around .2% in 2012 and .3-.4% in 2013).

To see a complete copy of the PPAR Sales and Listing statistics for December, 2011, CLICK HERE

HOME AFFORDABILITY NOW AT 1971 LEVELS ….WOW!!!

Realtor Magazine (Jan. 11, 2012) tells us that, because of falling home prices and record-low mortgage rates, home affordability is at 1971 levels, according to the U.S. Department of Housing and Urban Development.

Home owners are bringing in nearly double the median income they need to cover the cost of an average home, HousingPredictor reports.

Bob Nielsen, chairman of the National Association of Home Builders, said, “With interest rate at historically low levels and markets across the country beginning to improve, home ownership is within the reach of more households”.

As a result of these factors, home sales have been ticking up, according to the National Association of Realtors.

Some of the other signs that things are getting better;

• Clear Capital says home prices in 2012 will go up slightly (0.2%). This will represent the first rise since 2006 and will put national home prices near levels not seen since 2001. Half of the 50 major metro markets included in the ClearCapital annual survey are expected to post gains for the year.
• Foreclosures across the U.S. decreased 34% in 2011, according to RisMedia. In fact, December activity hit a 49 month low, even though scheduled auctions were up in the fourth quarter.

And don’t forget, another positive factor to consider as you make your decision about buying that new home is the deductibility of your mortgage interest payments. As an example, if you are in a 28% tax bracket and your mortgage interest rate is 3.75%, your mortgage interest deduction would effectively reduce your mortgage-interest expense to 2.75% out of your pocket. That really makes home ownership a realistic possibility for many people.

Also, as you consider buying that new home, you might consider is a 15 year mortgage, rather than the traditional 30 year mortgage. Depending upon your circumstances, the 15 year mortgage can cut your mortgage interest rate even further. Here again, we will be happy to explain all of your options and the tax advantages that are available to you.

Give us a call at 598-3200, or 800-677-6683(MOVE).

WHAT ARE SELLERS DOING TO MAKE THEIR HOMES MORE ‘BUYER FRIENDLY’ ?

Some of the ‘extras’ that Sellers are now using to ‘sweeten the deal’ are:

• Reducing prices
• Paying closing costs
• Making deferred repairs
• Buying home warranties
• Paying originations fees or points

Sellers are also using ‘staging’ to make their homes more appealing to prospective Buyers.

Give us a call to discuss how we might market your home to make it a more appealing prospect for Buyers.

CONSUMER CONFIDENCE IS RISING

Here are some interesting results from the recent Fannie Mae national housing survey :

• Most respondents believe home prices will edge up at least 0.8% in 2012.
• 40% expect their financial situations to improve in 2012
• More than 20% said their incomes are significantly higher than they were a year ago

Fannie Mae chief economist Doug Duncan summarized the survey results by saying, “There is marked improvement in consumer sentiment regarding the direction of the economy, personal finances and future home price expectations”.

Ironically, “This increase in optimistic Americans is tempered by overall consumer attitudes that remain at depressed levels with more than two-thirds of those interviewed saying the economy is heading down the wrong track”.

So, what’s the bottom line? You tell me!!!

MORTGAGE RATES STILL HOLDING, BUT WHAT HAPPENS IF FHA GETS IN TROUBLE?

Freddie Mac recently released the results of its Primary Mortgage Market Survey, showing mortgage rates easing to new all-time record lows. The average for the 30-year fixed mortgage rate has been below 4% for six consecutive weeks.

At the same time, the FHA’s cash reserves have shrunk and that agency may have to seek a capital infusion from the taxpayers, if the housing slump continues, according to Bloomberg BusinessWeek. (Jan. 15, 2012).

If the government does end up giving FHA additional funds, then we can expect mortgage rates to rise, which would negatively affect he entire housing market.

Bottom Line: If you are thinking of buying a home, you had better buy now, before rates start going up.

EL PASO COUNTY APPROVES PLAN TO EASE RESTRICTIONS ON BUSINESS

On Thursday, the Barriers to Business committee brought its first set of recommendations to the El Paso County commissioners, who unanimously approved them. The vote reduces the number of commercial and industrial zones in unincorporated areas of the county from five to three, and axes a five-year limit on special uses and variances.

The changes give businesses more opportunity to go into areas where they might not have been allowed before, and lessens the need for special hearings, application fees and a whole lot of forms.

Commission chair Amy Lathen said, “It’s more common sense and it eliminates time, paperwork and cost. It gives businesses more opportunity, but does it while preserving the master plan of the area”.

Bottom line: To us, it sounds like a step forward in attracting more businesses to our area. Good work, guys!!

NEW MERGED CHAMBER/EDC HOPES TO FOCUS ON EDUCATION

In a “State of Education” luncheon on Wednesday, Dave Csintyan, president and CEO of the Greater Colorado Springs Chamber of Commerce, said the business community needs to partner with public schools to ensure a well-trained future workforce. “Our newly merged organization has to be thematically relevant and part of that should be education” he stated.

Csintyan said he realized the importance of the business community’s input when he recently encountered a young store clerk who couldn’t figure out how to make change for an $18.16 purchase from a $20 bill.

Dr. Nicholas Gledich, Colorado Springs School District 11 superintendent, said he welcomes the business community involvement in the schools. The economic benefits to the business community of graduating 100% of the student body equal millions of dollars, he stated. In Colorado Springs, 2,000 students dropped out of the class of 2010, he said. If half of those graduated they would have contributed $11 million to the economy.

Sounds like all of us would benefit if the Chamber could help our school districts improve their graduation rates.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Call us at 598-3200,or, 800 877-MOVE (6683).

JOKE OF THE WEEK

"Do you believe in life after death?" the boss asked one of his employees.
"Yes, sir," the clerk replied.
"That's good," the boss said. "After you left early yesterday to go to your grandmother's funeral, she stopped in to see you."

Jan.9, 2012

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

HOW ABOUT THEM BRONCOS !!!! WHAT A WAY TO START THE YEAR !!!

WHAT'S GOING TO HAPPEN WITH real estate IN COLORADO SPRINGS IN 2012?

Many of our friends and clients ask us for our prediction of where real estate is going this year. So, here's our take on what's going to happen.

First of all, Colorado Springs real estate has not felt the recession as badly as most other parts of the country. Add to that the fact that we are better poised for a recovery than most other cities. As we cited in previous issues, both Forbes and Kiplinger have listed Colorado Springs as one of the top ten places where recovery will be the fastest.

So, based upon the national picture, the local picture and my 39 years of experience in our local market, my opinion is that we should see a marked increase in home-values and home sales in 2012. As evidence that this increase will take place, just consider the following factors:

• Both National and local statistics indicate that we have reached bottom, where home-prices are concerned. NAR is projecting an increase in home values of 2% in 2012, 3% in 2013 and 4% in 2014. My prediction is that we will exceed those increases by at least another 1%.
• In Colorado Springs, there is an increasing demand for housing based upon an increase in our military population (with hundreds of troops returning from Iraq and Afghanistan) plus our typical population increase because of retirees (our city is one of the prime retirement cities in the country) and a slow but steady increase in businesses (as a result of our city council actively promoting our city nationally).
• There is a sizable pent-up demand for housing because of tight mortgage credit conditions which have been artificially holding back sales for several years….and the government is eagerly seeking to loosen up the requirements for borrowers (See “FED URGES ACTION ON EASING LENDING RESTRICTIONS”, below)

The bottom line is that the Colorado Springs real estate market looks very good in 2012, for Homeowners, Homebuyers, Homesellers and Investors alike.

Call us to discuss what these trends could mean for you. 598-3200, or, 800-677-6683(MOVE).

EXISTING HOME SALES CONTINUE TO CLIMB IN NOVEMBER

Realtor Magazine reports (12/21/2011) that existing home sales rose again in November and remain above a year ago, according to NAR.

Lawrence Yun, NAR chief economist said more people are taking advantage of the buyers' market. "Sales reached the highest mark in 10 months and are 34% above the cyclical low point in mid-2010 ....A genuine recovery appears to be developing. We've seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today's market for buyers with long-term plans".

This is all great news !!!

MORTGAGE RATES MATCH RECORD LOWS THIS WEEK

Daily real estate News reports (Jan. 6, 2012) that, for the fifth consecutive week, 30-year fixed-rate mortgages have averaged below 4%, which was unheard of until a few months ago.

30-year fixed-rate mortgages are averaging 3.91%, compared with 4.77% one year ago.
15-year fixed rate mortgages are averaging 3.23%, compared with 4.13% one year ago.

If you have not refinanced, you should seriously consider it. You could save hundreds of dollars a month.

Call us, if you would like to discuss this opportunity, at 598-3200,or 800 677-6683(MOVE).

COLORADO SPRINGS NUMBER OF FORECLOSURES FALLS AND BUILDING PERMITS PREDICTED TO RISE

The Gazette (Jan.4, 2012) reports that foreclosure filings in 2011 fell 25.4% in 2011, compared with 2010. This means that fewer homeowners were in trouble with their mortgages. Public Trustee Tom Mowle says he expects that trend to continue.

This reduction in foreclosures is accompanied by a forecast by the board president of the Housing and Building Association, John Cassiani, that there will be a 55 – 10% increase in building permits in 2012.

“It’s not going to be a rapid jump, but I think the uptick has started”, Mr. Cassiani said.

Considering both of these trends, things are looking very good for 2012 !!

AREA JOBLESS RATE DROPS TO LOWEST LEVEL IN 2 YEARS

The Gazette reports (Thursday, Jan. 5, 2012) that the Colorado Springs-area unemployment rate fell in November to its lowest level in more than two years. The area jobless rate fell to 9%, matching September 2009 as the lowest rate in the past 26 months.

At the Pikes Peak Workforce Center, a spokesman said that they are seeing a lot of recent hiring by call centers, a few high-tech companies and some seasonal jobs, such as landscaping. Sales and banking are also strong areas for hiring.

FED URGES ACTION ON EASING LENDING RESTRICTIONS

The Wall Street Journal (Thursday, Jan 5, 2012) reports that the Federal Reserve, in an unusual foray into housing policy, has called for more aggressive action from Congress to loosen mortgage-lending standards. The Fed stated that tight lending policies were holding back the recovery. They also urged more aggressive use of Fannie Mae and Freddie Mac to support a housing recovery.

The Fed's argument is that, although mortgage rates have been at record lows, there are many borrowers who have not been able to take advantage of the low rates because of blemishes on their credit histories, uneven incomes, or because their home values have left them with no, or very low equity.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf.

And, if you would like to learn more about our Job Loss Protection Program, please contact us.

LATEST STATISTICS

CLICK HERE to see the latest statistics about real estate sales and listings in the Pikes Peak area. Note that these statistics are generated every month by the Pikes Peak Association of Realtors and they are one of the important tools that we use in assisting Buyers and Sellers to establish realistic listing/buying prices. Also note that the data is broken down into specific neighborhoods in the Pikes Peak area.

Some of the more pertinent data contained in these statistics are median and average prices and price spreads within neighborhoods.

As you can see from the statistics, the local market, mortgage rates and trends are constantly changing, even within our local neighborhoods. That’s why you should seek help and advice from a reliable, professional Realtor.

If you are looking for a new home or an investment property, we can show you how to receive the most current listings sent directly to your computer
We would be happy to discuss these statistics with you and to answer any questions you might have about how they can be used. Just give us a call at 598-3200, or, 800 877-MOVE (6683).

JOKE OF THE WEEK

So, Brett Favre dies and goes to heaven. Because he was such a famous person, God himself shows him around. After showing Brett all of the sights, God shows Brett what his home will be for all eternity….. a beautiful cottage, with a Packers flag in the front yard.

Brett thanks God, but then notices the house next door, which is a huge mansion with a swimming pool, a four car garage, a heliport in back, several orange and blue banners hanging from the porch and a giant Broncos flag flying from a pole in the front yard.

Brett says, “Lord, I don’t want to seem ungrateful, but I played in the NFL for many years, was MVP for several seasons, I won several Super Bowls and still own many passing records. …and I end up with this little cottage in Heaven? Tim Tebow, on the other hand has only won one measly playoff game, and he gets that huge mansion? ..It just doesn’t seem fair. !!!

God replies, “Oh no, Brett. You don’t understand. That mansion isn’t for Tim Tebow …That’s my house “

December 12, 2011

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

LOCAL JOBLESS RATE DROPS – AND 2012 LOOKS EVEN BETTER
Gazette, Wed. Dec. 7, 2011

The unemployment rate in the Colorado Springs area dropped in October to its lowest level in nearly two years, according to the U.S. Bureau of Labor Statistics

The local jobless rate fell to 9.2% in October from 9.3% in September, matching November 2009 as the lowest rate in the past two years.

Tom Binnings, a senior partner in Summit Economics, LLC, a local economic research and forecasting firm said, “We continue to see slight improvement in the local economy, despite the gloom-and-doom forecasts that the nation is going to head back into a recession because of the European debt crisis”.

Other experts were even more optimistic, with the University of Colorado at Boulder Leeds School of Business forecasting 23,000 more jobs in Colorado in 2012, on top of the estimated 27,500 jobs the state gained this year.

Service providers will supply most of the growth, according to the forecasts.

HOW IS HOUSING DOING? THE EXPERTS SAY THINGS ARE LOOKING UP

HousingWire (Dec. 12, 2011) reports that Barclays Capital predicts a housing recovery buoyed by improving job numbers and the fact that prices for undistressed homes will have stabilized without government support.

“In the absence of government homebuyer incentives, prices for non-distressed homes sales have stabilized for almost a year,” says Barclays analyst Stephen Kim. “This is the most important trend in the housing industry right now, and we are amazed at how little attention it has been getting from the media and the street. This stability on the part of non-distressed prices has occurred despite a very high share of distressed activity and continued declines in overall prices.”

Barclays said recent economic data – including higher job creation – point to some improvement potential in the sector.

Fannie Mae’s November National Housing Survey also sees a rise in consumer sentiment in November, as improved economic data pushed home price expectations into positive territory, for the first time in six months.

According to the Fannie Mae report, more respondents expect home prices to increase by at least 0.2% over the next year.

All of these factors are on the minds of voters as they approach the coming elections. In fact, in a recent survey by HouseLogic.com, the consumer website from the National Association of Realtors, voters say that jobs and the housing market will be two of the most important issues for them as they head for the polls in November.

With unemployment still high, it is easy to see why so many Americans are concerned about the job market, however, employment and the housing market are inextricably linked because economic growth and job creation cannot occur without a housing recovery.

Housing accounts for more than 15% of the U.S. Gross Domestic Product – It’s a key driver of the national economy. Home sales generate jobs. In fact, NAR estimates that, for every two homes sold, one job is created. And new spending on homebuilding products, furniture, etc. also have a significant economic impact.

ASKING TOO MUCH? real estate AGENTS MAY NOT LIST YOUR HOME

In the Gazette, Tuesday, Dec. 6, 2011, we were interviewed as to why local real estate listings are down to their lowest point in nearly seven years. In the article, we pointed out that home listings in November plummeted to 3,667 – the fewest in any month since 3,557 in January 2005. (See our Sales and Listings statistics, below).

As we noted in the interview, there are several reasons for the decline, but the most widespread reason is that homeowners are reluctant to list their homes at prices which are below their expectations. Unfortunately, in most cases, their expectations are too high, based upon the decline in values which the recession has caused.

The good news is that the decline in prices seems to have come to a halt, and many experts are predicting a modest rise in home prices in 2012. When that rise occurs, many homeowners who have been holding back will probably list their homes for sale, and the selection of homes available to Buyers will dramatically expand.

If you have been reluctant to list your home because you are concerned about the current market prices, give us a call to discuss the current value of your home. Prices vary from neighborhood to neighborhood and the market is changing daily. You might be pleasantly surprised to see what prices your home might bring.

Call us at 598-3200 or 1-800-677-6683 (MOVE).

LATEST SALES AND LISTING STATISTICS AS OF NOVEMBER 30, 2011

CLICK HERE to see the latest statistics about real estate sales and listings in the Pikes Peak area. Note that these statistics are generated every month by the Pikes Peak Association of Realtors and they are one of the important tools that we use in assisting Buyers and Sellers to establish realistic listing/buying prices. Also note that the data is broken down into specific neighborhoods in the Pikes Peak area.

Some of the more pertinent data contained in these statistics are median and average prices and price spreads within neighborhoods.

We would be happy to discuss these statistics with you and to answer any questions you might have about how they can be used. Just give us a call at 598-3200, or, 800 877-MOVE (6683).

3 LOCAL SCHOOL DISTRICTS EARN HIGHEST COLORADO GRADES

The Gazette (Dec. 12, 2011) informs us that three local school districts are among 18 statewide that received the highest marks under the Colorado Department of Education’s new accreditation standards.

For the second consecutive year, Academy School District 20, Cheyenne Mountain School District 12 and Lewis-Palmer School District 38 were deemed “accredited with distinction”.

Congratulations to our three champions and it is also encouraging to note that none of our local districts were given the lowest designation by the new accreditation system.

EDC LUNCHEON RECOGNIZES 22 LOCAL COMPANIES

On December 8, 2011, the Colorado Springs Regional Economic Development Corporation recognized 22 owner/executives from local companies which had relocated to, or expanded their existing operations in the local area during 2011.

The awards luncheon was a good indication of how the EDC is helping to build our city and strengthen our economy.

To see more about these expanding companies, CLICK HERE

Nice work, guys. Keep it up.

COLORADO RANKS 9TH AMONG HEALTHY STATES

The Colorado Springs Business Journal reports that Colorado ranks ninth among states with a healthy population, according to America’s Health Rankings. That’s an increase of four spots from last year, and once again, Colorado was named the least obese state.

The rankings are published by the United Health Foundation, the American Public Health Association and the Partnership for Prevention.

The state earned the Above-average ranking because of low levels of air pollution, lower levels of obesity and low prevalence of diabetes.

However, the report also states that our state has 814,000 obese people, an increase of 360,000 individuals over the past 10 years.

Overall, the country did not improve in health standards, meaning that there was a total balance between improvements and detriments in all 23 areas measured.

HEY, IT’S THE SLOW TIME OF THE YEAR – COME VISIT US AND HAVE A CUP OF COFFEE !!

This is the slow time of the year for Realtors, and most people are not looking to move or to list their homes for sale during the holidays, so we are getting lonely. Give us a call and come by for a visit and a cup of coffee !!

We appreciate our readers and we enjoy hearing from you. We get a lot of comments and suggestion about our weekly update and we want to tailor our weekly update so as to give you the most helpful real estate information available. Your input will help us improve the eNewsletter.

As a matter of fact, several of our readers have asked us where we get the information that we publish in these emails. Well, here is a partial list of the publications and sources we read on a regular basis, in order to keep abreast of the market for our eNewsletter readers:

Natl. Assoc. of Realtors news
Colo. Assoc. of Realtors news
Pikes Peak Assn. of Realtors news
The Gazette
Wall Street Journal
Bloomberg Businessweek
Forbes Magazine
Worldwide ERC (relocation Industry)
Housing Wire
Inman News – Daily
Colo. Springs Business Journal
DS News – Daily
relocation Directors Council
RIS Media – Daily
UCCS Quarterly Updates and Estimates (The Que)

And, if you would like us to add anyone to our subscription list (It’s free), just let us know.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Call us at 598-3200,or, 800 877-MOVE (6683).

JOKE OF THE WEEK

When Prince Phillip was visiting the United States recently, the Commandant of West Point invited him to visit West Point, review the troops and see some of our modern weapons.

The parade commenced with a battalion of tanks, followed by a division of infantry, followed by armored personnel carriers and mobile artillery. There were mobile ballistic missile launchers, electronic jamming vehicles, and throughout the entire time the formations were overflown by squadrons of the most advanced interceptors, fighters, and long-range tactical and strategic bombers.

Prince Phillip was suitably impressed. Then he noticed that, way back at the end of the parade, there was a disorganized, messy bunch of men in rumpled suits tagging along behind the last artillery pieces.

"Who are they?" he asked.

"Ah," said the General, "those are our economists!"

"But what are economists doing in a military parade?” asked Prince Phillip.

"Your Highness” replied the General, "The rest of our weapons can wipe out specific targets, but those men can destroy an entire country”

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

"BLACK FRIDAY" IS STILL AVAILABLE FOR real estate BUYERS

The great deals that Buyers line up for at retail stores on the day after Thanksgiving are still available in spades for real estate Buyers.

In real estate, the period between Thanksgiving and Christmas is the slowest time of the year. Most people are so busy buying presents and Christmas trees, that they don't have time to buy houses.

So, if you're a prospective Buyer, this time of the year presents a great opportunity to get some wonderful deals on houses. Not only are prices and mortgage rates low, but Sellers are not getting any offers, so they are very eager to negotiate with the few prospective shoppers who are willing to buy during this slow time of the year.

Now, if you're a Seller, this means that you should make sure you are making your home look as good as possible during this slow time of the year. Price it right and make it look good, both inside and outside.

Most real estate professionals advise Sellers to list their homes during the holiday season rather than waiting, citing more serious Buyers and less competition among properties, according to a recent survey.

In their recent survey of 429 real estate professionals, Holiday Home Selling Survey found that 60% said they would always advise a Seller to list a home during the holiday season and agreed that "it's a good time to sell".

The vast majority of respondents, 79 %, said more serious Buyers were one of the biggest benefits of listing during the holidays, while 61 percent said less competition among homes was a plus.

But the biggest challenge, noted by 63% of respondents, was keeping a home "open house ready," meaning clean and staged, during this time of year.

The majority of respondents, 74 percent, said pricing a home to sell was even more important during the holiday season, and 40 percent said staging a home was more important at this time of year. Nearly a third said being flexible with contract terms such as move-in dates and when closing costs were paid was more essential during the holidays.

The way a home is staged during this time of year is also significant, according to the survey. Almost all respondents said they advised Sellers to put up some seasonal decorations.

Eighty percent of respondents said they encourage Sellers to light their fireplace when staging a home during the holiday season, while 62 percent said they suggested Sellers update outdoor lighting because the Buyer is more likely to see the home at night due to shorter days.

Other popular staging advice for Sellers included using winter-scented home fragrances before an open house, making the home feel more cozy through reading nooks and blankets on couches and beds, setting the table to showcase holiday entertaining, and playing seasonal music that is not specific to a particular holiday, the survey said.

If you would like to find your new home before Christmas, or sell your new home before the end of the year, just call us at 598-3200, or, 800-677-MOVE (6683).

GAZETTE REPORTS "housing market IN POSITIVE TERRITORY"

On Friday, Dec. 2, 2011, the Gazette reported that the pace of homebuilding increased last month in the Colorado Springs area while foreclosure filings fell, continuing a positive trend for the local housing market over the past few months.

Single-family homebuilding permits in El Paso County totaled 122 in November, up 27.2% from the same month last year, according to figures released Thursday by the Pikes Peak Regional Building Department. Year-over-year permit totals have increased in five of the past six months.

Local economists and housing officials track single-family permits as a measure of the health of the building industry and economy. When the economy is going well, permits are on the rise; when the economy goes south, so does the pace of homebuilding.

Permits are also tracked by local governments; lumber, drywall and other building materials that are purchased to construct houses generate millions in sales tax revenues that governments use to fund their annual budgets.

THERE’S GOOD NEWS IN THREE MORE AREAS

Three recent news stories all point to the fact that things are looking up.

First, NAR reports that the inventory of homes for sale is getting smaller. That's an indication that the glut of foreclosed properties which was artificially distorting inventories and prices is being absorbed by the market. That's good news. It means the real estate market is returning to normal.(The 'not so good' reason for this shrinking inventory is that some potential Sellers are 'underwater' with their mortgages and are waiting for their equity to come back, before they list their homes for sale. However, the rising prices of homes for sale could solve that problem within the next year.)

In fact, just this week we were interviewed by the Gazette to comment on the shrinking inventory of homes for sale and we pointed out that our current inventory of available homes (3667) is actually the lowest it has been since January of 2005, when it was 3725.

The Second piece of good news is that there was a jump in pending home sales in October.

Realtor.org. November 30, 2011, reports that pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, surged 10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010 when it stood at 85.5.

Lawrence Yun, NAR chief economist, said improved contract activity is a hopeful sign. “Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from Buyers who normally would have entered the market in recent years. We hope this is indicates more Buyers are taking advantage of the excellent affordability conditions,” he said.

“Many consumers are recognizing that home Buyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market,” Yun added.

Locally, home sales totaled 758 in October, a 20% jump over the same month last year. It was the fourth consecutive month of year-over-year increases in home sales.

The third piece of good news is that the Wall Street Journal (Dec. 1, 2011) reported that private businesses added 206,000 jobs in November, according to their latest survey.

So, SMILE !!!! Things are getting better every day !!!

STRONG TEMPTATIONS FOR HOME BUYING

Daily real estate News | Tuesday, November 29, 2011

The monthly cost of owning a home is more affordable now than in the past 15 years, and is less expensive than renting in numerous cities, according to The Wall Street Journal’s third-quarter survey.

Low home prices mixed with low mortgage rates—hovering at 4 percent or even lower—are creating an appealing Buyer’s market, analysts say. For example, buyers today have a 77 percent increase in their borrowing power compared to 1991, The Wall Street Journal points out that, in 1991 a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage, whereas today the home owner taking advantage of current low rates can get a $350,000 loan for that same mortgage payment amount.

To illustrate, in 1991, a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage, whereas today the home owner taking advantage of current low rates can get a $350,000 loan for that same mortgage payment amount.

In the 28 cities that The Wall Street Journal tracked, it found monthly mortgage payments on the median-priced home—including taxes and insurance—to be lower than the average rent levels in 12 of the metro areas.

Nationwide, apartment rents are expected to rise by about 4 percent this year, which may make the owning vs. renting picture tilt even higher, according to some analysts.

BOOMERS MORE WILLING TO HELP KIDS WITH DOWN PAYMENTS
Daily real estate News | Wednesday, November 30, 2011

Two-thirds of baby boomers say they want to help their children or grandchildren with a home down payment, according to a study of more than 1,000 baby boomers age 45 and up conducted by Meredith Research Solutions for Better Homes and Gardens

In fact, one in five boomers surveyed say they've already loaned their children money, cosigned a mortgage, or given a cash gift for a down payment on a home.

Even baby boomers not considered wealthy are willing to offer help on down payments. While baby boomers who make more than $75,000 a year were found to be the most willing to offer help, 46 percent of baby boomers who make less than $75,000 per year say they also plan to help their child with a future home purchase, according to the survey.

So why are baby boomer parents so willing to help their children out with a home down payment? About 75 percent of boomers said they believe owning a home is a good investment for their children, and 58 percent said they think it’s still part of the American dream.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Call us at 598-3200,or, 800 877-MOVE (6683).

LATEST SALES AND LISTING STATISTICS AS OF NOVEMBER 30, 2011

CLICK HERE to see the latest statistics about real estate sales and listings in the Pikes Peak area. Note that these statistics are generated every month by the Pikes Peak Association of Realtors and they are one of the important tools that we use in assisting Buyers and Sellers to establish realistic listing/buying prices. Also note that the data is broken down into specific neighborhoods in the Pikes Peak area.

Some of the more pertinent data contained in these statistics are median and average prices and price spreads within neighborhoods.

We would be happy to discuss these statistics with you and to answer any questions you might have about how they can be used. Just give us a call at 598-3200, or, 800 877-MOVE (6683).

JOKE OF THE WEEK

November 21, 2011

HARRY’S WEEKLY UPDATE

A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

BREAKING NEWS …U.S. WILL REMAIN A NATION OF HOMEOWNERS

The U.S. will not become a nation of renters; there are just too many benefits, both financial and otherwise, to own versus rent. That’s according to the combined findings of several recent studies presented during the "Buyer or Renter Nation?" session held during the 2011 Realtors Conference and Expo last week and also the NAR annual survey which was released last week.

One analysis of homeowners which spanned a 31-year period compared the ownership benefits in terms of appreciation and interest deductibility and costs homeowners incur with down payment, taxes, insurance and maintenance and, in the analysis, 84% of homeowners came out ahead.

According to the most recent data from the Federal Reserve Board, a homeowner’s net worth is 45.9 times that of a renter’s.

"We knew that homeowners, on average, accumulate more wealth than renters", said Ken Johnson, editor, Journal of Housing Research at Florida International University. "These findings indicate that homeownership is a self-imposed savings plan."

"Homeownership is more affordable today than at any time over the last 30 years", Johnson said.

The NAR survey shows that 78% of recent homebuyers say their home is a good investment and 45% believe it’s better than stocks.

Another analysis conducted by Johnson, Beracha, Hilla Skiba and Mark Hirschey determined that housing affordability is at record levels.

Twenty-three states are at 30-year record levels of affordability based on price-to-income ratios, and all 50 states are at record affordability levels based on mortgage- payment-to-income ratios.

Beyond the financial advantages of homeownership, Johnson also cited several studies that have demonstrated how homeownership enhances civic pride, improves voter turnout, increases personal happiness, reduces crime, and provides a better familial environment.

Some of the other data presented in the NAR survey were:

First-time buyers who financed their purchase used a variety of resources for their down-payment. 75% tapped into savings. 26% received a gift from a friend or relative, 7% received a loan from a friend or relative. 9% sold stocks or bonds. 8% tapped into a 401(k) fund.

94% of entry-level buyers chose a fixed-rate mortgage

54% of first-time buyers financed with a low-down-payment FHA mortgage and 6% used the VA loan program which requires no down-payment.

64% of all buyers are married couples

18% are single women

10% are single men

7% are unmarried couples

The biggest factors influencing neighborhood choice were (in descending order) quality of the neighborhood, convenience to jobs, affordability, convenience to family and friends, neighborhood design, convenience to shopping, quality of school district, convenience to schools, and convenience to entertainment or leisure activities.

The typical home seller was 53 years old and their income was $101,500.

The typical seller who purchased a home nine years ago realized a median equity gain of $26,000, a 16% increase, while sellers who were in their homes for 11 to 15 years saw a median gain of $57,900, or 39%. Over time, the survey findings consistently show that the longer you own, the larger your return.

From our standpoint, it was interesting to note that home buyers thought the most important services agents provide are helping find the right house and negotiating price and sales terms.

Some other interesting facts were that 91% of buyers who used the Internet to search for a home, purchased through a real estate agent, as did 70% of non-Internet users, who were more likely to purchase directly from a builder or from an owner they already knew.

Like sellers, buyers most commonly choose an agent based upon a referral from a friend, neighbor or relative, with trustworthiness and reputation being the most important factors. That explains why, after 39 years of serving the Pikes Peak Area, we rely almost completely on referrals from our friends and past clients for our business.

Give us a call to discuss your real estate needs. We will do a great job for you…just ask our past clients. Call us at 598-3200, or, 1 800 677-6683 (MOVE).

ARE THINGS LOOKING UP? …HERE’S A FEW SOURCES THAT THINK SO

Realtor Magazine (November 18, 2011) says that the housing picture is expected to brighten in 2012. They cite a forecast by Fiserv, a financial information services firm which predicts that 95% of the 384 metro areas it tracks will see home prices rise in 2012…..and a survey by MacroMarkets of 100 economists and real estate professionals that predicts a rise in home values of .25% in the new year.

Bloomberg reports that economists at J.P.Morgan Chase & Co. now see gross domestic product rising 3% in the final quarter and Morgan Stanley & Co. is looking for a 3.5%. They also predict that the strengthening economy will help lift US stock prices. They also say the economic pick-up may also push up yields on Treasury securities.

Karen Hoguet, chief financial officer for Macy’s Inc. says, "We’ll have a spectacular Christmas".

Lawrence Yun, chief economist for the national Association of Realtors is quoted in Realtor Magazine as saying, "Housing affordability is about the best it’s ever been. Investors can anticipate strong rent returns and solid home appreciation. Nor is there any reason to believe this rent growth will cool. If annual rent gains stay near 3.5%, rents will double in 20 years. If they reach 5%, rent doubling will occur in 14 years. That means home prices could also double in 14 to 20 years."

The Gazette (November 17, 2011) reports that US manufacturing is recovering from a slump, and inflation may be peaking. Strong consumer spending helped the economy grow at an annual rate of 2.5% in the July-September quarter. Retail sales rose in October, leading economists to predict similar growth in the final three months of the year.

Finally, a report issued by the Mortgage Bankers Association shows that the share of households delinquent on their mortgage payments has fallen to the lowest level since the end of 2008, offering signs that modest job gains are stemming further damage in the US housing sector.

And you thought we were the only optimists on the planet ……SMILE !!! 2012 is going to be a great year.

NAR TO THE RESCUE

The National Association of Realtors notified us last Friday that Congress had restored the loan limits for the Federal Housing Administration (FHA) for two years. This reversal by Congress represents a victory for all prospective home Buyers, for the real estate market nationally, and for the national economy.

The National Association of Realtors (NAR) had lobbied intensely for this reversal, to help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties and 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000.

The new regulation reinstates the FHA loan limits through 2013 at 125% of local area median homes, up to a maximum of $729,750 in

the highest cost markets, the floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie Mae and Fredddie Mac. Fannie-and-Freddie-backed mortgages will remain at 115% of local area median home prices up to $625,500.

The bill also provides for a short-tern extension of the National Flood Insurance Program through December 16, 2011. NAR promised to continue to press Congress to authorize a five-year extension of the program, which ensures access to affordable flood insurance for millions of home and business owners across the country.

As the Wall Street Journal points out (Nov. 17, 2011) "Five years ago, it was too easy to get a mortgage. Today, it’s probably too hard". This reversal by Congress will help address that problem.

Good Work, NAR. We’re proud to be a member.

THE LATEST QUE IS OUT – HAVE YOU SEEN IT ???

Every quarter, the College of Business and Administration of the University of Colorado at Colorado Springs publishes the Quarterly Updates and Estimates for El Paso County. This in-depth analysis of every aspect of our local economy is a valuable tool for personal and business planning. It is full of helpful charts and graphs about the real estate market, auto sales, tax revenues, employment trends, wages and even features a measurement of the local "Misery Index".

If you would like a copy of this very informative analysis of our local economy in the third quarter of 2011, produced by Fred Crowley, chief economist for the Southern Colorado Economic Forum, CLICK HERE.

IN 2012, JUST LIKE ALWAYS, POLITICS WILL TRUMP PESSIMISM

Our annual prediction is that, because 2012 is an election year, Washington will pull out all the stops and do whatever is necessary to boost our economy, so that voters will not go to the voting booths mad. In the time-honored tradition of "Bread and Circuses", we will see steps taken to help the housing market, increase employment and put "a chicken in every pot and a car in every garage".

So, relax. 2012 should be a great year for all of us.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf. Just click on the icon at the top of this email to listen to my podcast for this month …

LATEST SALES AND LISTING STATISTICS

CLICK HERE to see the latest statistics about real estate sales and listings in the Pikes Peak area.

JOKE OF THE WEEK

Ducking into confession with a turkey in his arms, Brian said, "Forgive me, Father, for I have sinned. I stole this turkey to feed my family. Would you take it and settle my guilt?"

"Certainly not," said the Priest. "As penance, you must return it to the one from whom you stole it."

"I tried," Brian sobbed, "but he refused. Oh, Father, what should I do?"

"If what you say is true, then it is all right for you to keep it for your family."

Thanking the Priest, Brian hurried off.

When confessions were over, the Priest returned to his residence. When he walked into the kitchen, he found that someone had stolen his turkey.

November 14, 2011

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

COLORADO SPRINGS IS LISTED AS ONE OF THE “TOP-8 HEALTHIEST HOUSING MARKETS”

Realtor Magazine (November 8, 2011) cites a survey of the healthiest housing markets in the U.S., conducted by Builder Magazine. Builder teamed with Hanley Wood Market Intelligence to compile its annual list, factoring in housing projections from Moody’s Economy.com. The list is based on projected price appreciation, population growth, income growth and improving employment picture.

As the Realtor article points out, the U.S. housing markets projected to have the biggest gains into 2012 tend to be home to major universities, strong private sector employment, or have nearby military bases. Those criteria describe Colorado Springs exactly.

Builder Magazine lists Colorado Springs as number “8” on its list, and points out that troops returning from Afghanistan will boom our economy. Local home prices are predicted to rise 2.6%. Employment is predicted to grow by 1.4% and households to increase by 1.8% in 2012.

Ain’t you glad you live here??

HOME PRICES DROPPED IN 2011 …BUT COLORADO SPRINGS IS BETTER OFF THAN MOST OTHER AREAS

Last week the National Association of Realtors released their current analysis of the previous four quarters of median home prices in the largest 150 communities in the U.S. As expected, in the four quarters ending September 30, 2011, prices declined an average of 4.7% nationally. But the good news is that Colorado Springs median home prices dropped only 3.8%. In other words, we are 19% better off than the rest of the country…..

How might this data affect your decision to buy a home now? Well, let’s look at a specific example. Let’s say you have been considering buying your $250,000 home in Colorado Springs. With a 3.5% down-payment of $8,750, that would bring the amount financed to $241,250. To that number, we must add the FHA mortgage insurance (a one-time 1.5% payment) of $3,618.75. So, the entire amount financed by the lender would be $244,868.75. In today’s market, the numbers would work out like this:

     Monthly Principal and Interest payment (3.75%)             $1,134                         

     Monthly mortgage premium (.5% MIP)                              $102

     Estimated monthly real estate taxes                                $125

     Estimated monthly home insurance premium                      $80

     Total monthly payment                                                  $1441 

But that doesn’t tell the whole story. Don’t forget that, as a homeowner, you get to deduct several expenses from your taxable income. Using the example we cited, above, your annual deductions would amount to:

• Home Interest payments                                               $9,106
• Property taxes (estimated)                                            $1,500
• Total                                                                           $10,606

Assuming that your tax bracket is 28%, those two credits would mean an annual tax credit to you of $2,970, or $248 a month. When you deduct that tax credit, it brings down your actual cost of ownership to a monthly expense of $1,193. ($1,441 - $248)

The bottom line is that, if you are paying anything like $1,193 a month in rent, you are missing out on the opportunity to build your total worth (equity) and your estate, the ability to put a lid on your housing expense for the next thirty years (thus avoiding the constant problem of ever-increasing rents) and the satisfaction of owning your own home….And, by the way, the Gazette (Friday, Nov. 11, 2011) notes that rents in Colorado Springs soared to a record-high in the third quarter and are expected to keep climbing as demand remains strong ….In fact, if you are now living as a renter in that same home we used in our example, you are probably paying approximately $1,450 a month….That means it is costing you $257 more per month to rent that house than it would cost you to own it. …Strange, but true !!!

And, keep in mind that these numbers won’t look this good forever. The fact is that, with every passing day, as foreclosures and short-sales are absorbed back into the market, there will be fewer homes in the inventory, thus increasing prices,….also, there will absolutely be increases in interest rates (We are currently at an historically low rate) ….and, inflation is also scheduled to drive up home prices dramatically.

Bottom line:  It is less expensive to own a home in Colorado Springs than it is to rent.

Call us at 598-3200, or 1-800-677-6683 to discuss this once-in-a-lifetime opportunity. Act now, and you will be sending me ‘Thank-You’ notes for the next 30 years.

FORECLOSURE FILINGS AND SALES DOWN IN EL PASO COUNTY

The Colorado Springs Business Journal reports that third quarter foreclosure filings and sales at auction were down statewide and in El Paso County. Foreclosure filings dropped nearly 25% in the third quarter of this year, according to a Colorado Division of Housing report.

The number of foreclosure home sales dropped more than a third from 746 in the third quarter of 2010 to 497 in the third quarter of 2011.

While new filings are on the rise for the year, 2011 is still shaping up to have the lowest number of foreclosure filings and sales at auction since 2009, according to the state division of housing.

Although it’s probably too soon to start singing, “Happy Days Are Here Again”, it looks like the band should begin to tune up.

SURVEY REVEALS WHY BUYERS ARE WAITING ON THE SIDELINES

According to Realtor Magazine (Nov.9,2011), a recent survey by Move, Inc. shows that 27% of Americans say they plan to buy a home in the future (with most saying in two or more years), and only 2% say they plan to purchase a home in the next 12 months. So, why are so many buyers continuing to wait when home affordability is so high and interest rates are so low?

About 23% of those surveyed say they are delaying buying a home because they are concerned about the real estate market in their local area, particularly with concerns about the future of home values, the economy and jobs, as well as difficulty in saving for a down-payment.

Nearly 35% of those surveyed say their inability to get credit or find affordable credit are the main reasons why they are putting off purchasing a home.

The survey also found that younger adults tend to spend more on housing than older adults. For example, the survey revealed that two out of five – or, about 40% of millennials, say they should spend 30% to 60% of their gross monthly income on housing. More than half of older Americans, on the other hand, say they plan to spend less than 30% of their gross wages on housing.

The survey also discovered that seven out of ten Americans say that candidates’ positions on housing will be very important to them in the 2012 presidential and congressional elections.

Survey respondents identified the following top housing priorities for the next president’s first 100 days in office:

1. Helping homeowners avoid foreclosure
2. Keeping interest rates low
3. Making more affordable mortgage credit available

Errol Samuelson, chief revenue officer of Move, Inc., said in a statement, “Our survey found that 27.3% of Americans still plan on buying a home. The survey illustrates candidates who share the concerns of the American people and make housing a top priority will win their confidence.”

TIPS FOR SELLING A HOME IN THE WINTER

Experts offer some of the following tips for selling a home in the winter.

• Stage it:

Arrange furniture so the selling-points in the home are not overlooked

Paint rooms inviting colors

Display pictures of the home in warmer, summer months

Turn up the heat to a comfortable level. Cold homes don’t sell

Price it right

Keep sidewalks and driveways clear of snow, ice and leaves – giving potential buyers a clear path to your front door.

Light it up:

Keep all the light on, even when you’re not there

Open the blinds and drapes

Hire me as your agent (I just stuck that in there, to remind you that a good agent can help you get your house sold. Give us a call at 598-3200, or, 800-677-6683 (MOVE).

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf.

Just click on the icon at the top of this email to listen to my podcast for this month …

LATEST SALES AND LISTING STATISTICS

Click here to see the latest Sales and Listing statistics for the Pikes Peak area.

JOKE OF THE WEEK

THERE WAS LIFE BEFORE THE COMPUTER

An application was for employment
A program was a TV show
A cursor used profanity
A keyboard was a piano!

Memory was something that you lost with age
A CD was a bank account!
And if you had a broken disk,
It would hurt when you found out!

Compress was something you did to garbage
Not something you did to a file
And if you unzipped anything in public
You'd be in jail for awhile!

Log on was adding wood to a fire
Hard drive was a long trip on the road
A mouse pad was where a mouse lived
And a backup happened to your commode!

Cut--you did with a pocket knife
Paste you did with glue
A web was a spider's home
And a virus was the flu!

I guess I'll stick to my pad and paper
And the memory in my head
I hear nobody's been killed in a computer crash
But when it happens they wish they were dead!

November 7, 2011

HARRY’S WEEKLY UPDATE
A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

GOOD NEWS – LOCAL HOME SALES RISE WHILE PRICES FALL

The Gazette (November 5, 2011) notes that local home sales totaled 758 in October, a 20.1% jump over the same month last year. This increase in home sales was the fourth consecutive month of year-over-year increases in home sales.

Through the first 10 months of 2011, single family home sales totaled 7,164 in the Pikes Peak region, a 2.3% increase over the same period last year.

Another good sign that our local market is stabilizing and starting to grow was the fact that the inventory of available homes fell to 3,959. That’s its lowest point in nearly two years and represents a 22.7% decline from the same month last year, and the fewest number of listings in any month since December of 2009, when 3,951 homes were listed.

Some of the other indicators that point to a recovering local housing market and a great opportunity for homebuyers are:

? Low mortgage rates are still available ….Buyers can still get an FHA 3.75%, 30 year, fixed-rate, residential mortgage, with a minimum down-payment of 3.5%.

? The local unemployment rate in September fell to 9.3%, the lowest level in nearly two years, as nearly 1,800 residents returned to the job market, and even more than that found work, according to the U.S. Bureau of Labor Statistics.

? According to the Gazette (Friday, Nov. 4, 2011), U.S. merchants are reporting solid gains for October, a sign that consumers are starting to spend, again…..a sure sign that the economy is still on track to recover…And, as a result of the influx of troops returning to Fort Carson, our local retail sales will even outdistance the national figures.

? Experts are predicting that the housing market will show some very encouraging signs of recovery in the second quarter of 2012, as the inventory of foreclosures shrinks and as the federal government introduces some housing programs designed to stimulate the housing market (just in time for the upcoming elections).

The bottom line for Buyers is that, as mortgage rates and home prices start to rise (as they definitely will) and as the inventory of available homes continues to shrink, the people who buy their new home today will look back in two years and see that they made one of the best investments of their lifetime.

Call us at 598-3200 or, 800 677-6683 (MOVE) to discuss this present market and where it is headed. Don’t miss the boat !!!

HOMEOWNERSHIP RATE RISES ONLY SLIGHTLY AFTER TWO YEARS OF DECLINE –

After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report released Wednesday.

With foreclosures forcing homeowners out of their homes and buyers waiting on the sidelines as home values declined, the homeownership rate has been on the decline for quite some time. In fact, according to Bloomberg, the rise in the third quarter of 2011 is the first in two years, according to the most recent Census figures.

However, the 0.4% increase, which brought the homeownership rate from 65.9% to 66.3% for the third quarter of 2011, was not large enough to result in an annual increase.

The declining homeownership rate is a reflection of the increase in foreclosures and of the economic uncertainty which has plagued all segments of our economy.

One result of this decline in homeownership is that investors are now looking at an increase in the number of families which have now become prospective renters, rather than homeowners. These investors are seeing a unique opportunity and they are putting their investment money into rental property. For more details, see the following article……

RENTAL YIELDS LOOK BETTER THAN EVER

As homeownership has been declining, rentals have become a more significant factor within the real estate industry. In fact, rental property now presents a great opportunity for investors. Capital Economics predicts that, "Rental yields will soon rise above 5.5%, comfortably beating the yields available on Treasuries and equities."

As evidence that the local "Smart Money" is betting on the value of investment property, note that 3 upscale apartment projects were recently announced for the Springs.

The Gazette (November 5, 2011) reported that over $100 million will be spent on "an explosion of apartment development taking place in the Pikes Peak region".

Norwood Development Group and Western National Group will partner to develop the projects on Nor’wood sites on the city’s east, northeast and northwest sides. The complexes will add about 835 units at a time when apartment vacancy rates have plunged to single digits and rents are soaring.

The complexes will feature one-, two-, and three bedroom units, with rents ranging from about $850 to $1,400.

Call us at 598-3200 or, 800 677-6683 (MOVE) to explore the investment opportunities currently available for smart investors. You may not want to buy a new residence, but you should consider buying some investment property. It’s a great opportunity and a chance to build your retirement plan.

PACE OF LOCAL HOMEBUILDING PICKS UP

The Gazette reports (Wednesday, November 2, 2011) that Colorado Springs –area builders saw a big jump last month in the pace of home construction.

Single-family building permits in the Springs and El Paso County totaled 139 in October, a 36.3% increase over the same month a year ago, according to a report released Tuesday by the Pikes Peak Regional Building department.

Kyle Campbell, board president of the Housing and Building Association of Colorado Springs said single-family permits were issued across a wide range of prices. Campbell said he couldn’t pinpoint a single factor for the uptick in construction activity, but pent-up demand on the part of recession-weary consumers and mortgage rates that remained at the lowest level in decades are possible reasons.

It’s a good sign that things are picking up !!!

WHY 20% DOWNPAYMENTS DON’T ALWAYS MAKE SENSE

Those buyers who have enough money to put 20% - or more- down on the purchase of a home may want to consider another approach –preserving some of their cash for savings, investing or other purposes.

With today’s interest rates and the competitive pricing of private mortgage insurance, borrowers can retain some of their money by putting less money down on a home- say only 10% - and still get a low monthly payment.

In the past, the adage was’ "The more you borrow, the more you leverage". In today’s financial times, the scenario is much different. Today, borrowers can leverage private mortgage insurance to put as little as 5% down on home and still have a competitive payment. By utilizing this strategy, home buyers are able to leverage their current assets, while still keeping sufficient cash reserves.

Give us a call at 598-3200 or, 800 677-6683 (MOVE) to discuss this strategy and we will be pleased to explore your various options with you.

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf.

Just click on the icon at the top of this email to listen to my podcast for this month …

LATEST SALES AND LISTING STATISTICS

Click here to see the latest Sales and Listing statistics for the Pikes Peak area.

JOKE OF THE WEEK

We just had a great idea for balancing the federal budget.

The present plan calls for a panel of really smart guys to balance the budget by a certain date and, if they can’t, then the Defense budget gets cut.

Our idea is that, if these geniuses fail to balance the budget by deadline time, the salaries of all Congressmen and Senators would get cut.

Wanna bet on how fast the budget would get balanced?

October 31, 2011

HARRY’S WEEKLY UPDATE

A CURRENT LOOK AT THE COLORADO SPRINGS RESIDENTIAL real estate MARKET

HOW’S OUR LOCAL ECONOMY DOING? …..PRETTY GOOD, ACTUALLY

 When comparing data from September 2011 with data from September 2010, The Gazette (Oct. 30, 2011) points out that seven out of eight indicators in our local economy look positive.

The “good news” is that:

• Initial claims for unemployment were down 9.4%
• Unemployment rate was down 8.6%
• Single-family home permits were up 53.1%
• New auto and truck registrations were up 10.5%
• Taxable retail sales were up 2%
• Hotel occupancy rate was up to 76.5%
• Foreclosure filings were down 20.4%

 As always, the trouble spot is the employment picture, with wage and salary jobs down 0.8%. This troubled aspect of the economy seems to be a national phenomenon and explains why all of the candidates for office are emphasizing “Jobs, jobs, jobs”.

We are happy to see that our new Mayor and City Council are concentrating on attracting new businesses to our area, so that our employment picture improves.

BUILDER MAGAZINE SAYS COLORADO SPRINGS LOOKS GOOD

The Gazette, Oct. 30, 2011

Colorado Springs’ housing market will be among the country’s best next year, according to a national forecast by Builder Magazine. The Springs ranks #7 in Builder’s Top 20 list of healthiest markets for 2012.

Builder publishes the Top 20 list in conjunction with parent company Hanley Woods, a real estate media and information services firm. Its projections use data from Moody’s Economy.com, which focuses on jobs, price appreciation, population growth and other factors that drive housing.

Incentives Grow to Get Struggling Home Buyers Moving

Daily real estate News | Friday, October 21, 2011

With distressed properties accounting for 30 percent of existing-home sales, more Realtors are finding a growing part of their job is offering struggling home owners “cash for keys,” according to a recent article at MSNBC.com.

In the “Cash for Keys” program, home owners who are facing foreclosure are typically offered between $500 to $2,500 if they agree to move out within 30 days (and leave the place clean, too). The benefits of this program for the cash-strapped homeowner are:

• ·         It frees home owners from their mortgage obligations and provides them with some money for moving expenses
• ·         It helps avoid a ruined credit profile from a foreclosure.

The benefit to the lender is that it allows him to avoid the extra costs of an eviction. 

The “Cash for Keys” program is expected to become a more mainstream option for handling short sales too, not just foreclosures. For example, Bank of America is piloting a program in Florida that will pay up to $20,000 to short sellers as well as forgive their loan deficiency. 

Banks are looking at offering more incentives to short sales since their losses tend to be far less than a foreclosure. For example, foreclosure properties tend to sell for 40 percent below non-comparable non-distressed properties while short sales tend to sell for only 20 percent less.

“The more the lender’s inventory builds up, the more generous they tend to be with  “Cash for Keys”, says Benjamin Barber, a senior sales specialist at Green River Capital LC in West Valley, Utah, in an interview with MSNBC.com.

Realtors are often the ones who deliver the “cash for keys” offer to home owners. And as more real estate professionals continue to find foreclosures and short sales as an increasing part of their job description, they’re even taking training classes on how to negotiate such situations with home owners and navigate these often-complex transactions.

About 21 percent of National Association of REALTORS® members now hold special certifications that help agents better handle distressed property — that’s up from 12 percent last year.

NEW Survey Reveals 5 Home Buying Myths

Daily real estate News | Friday, October 28, 2011

Overall, today’s home buyers tend to be fairly knowledgeable about the real estate market, but there are still a few points of confusion about the process. A new survey of 1,000 potential home buyers by Zillow finds five main areas of confusion:

1. Appreciation: About 42 percent of home buyers believe home values will appreciate by 7 percent a year. Reality: Historically, home values in a normal market appreciate by 2 to 5 percent in a year. 
2. 2.       Mortgage insurance: 41 percent of buyers think they will have to purchase private mortgage insurance, regardless of the amount of their downpayment. Reality: Buyers only need to purchase PMI if their downpayment is less than 20 percent of the home’s purchase price.
3. 3.       Appraisals: 56 percent of the buyers said the purpose of the appraisal was to determine if a home was in good condition. Reality: That’s the purpose of a home inspection; an appraisal estimates fair market value. 
4. 4.       Home owner’s insurance: 37 percent of home buyers said that buying home owner’s insurance is optional. Reality: Lenders require homebuyers to purchase homeowner’s insurance. 
5. 5.       Ownership: 47 percent of home buyers said a prospective buyer owns a home after the purchase contract is signed. Reality: The purchase and sales agreement is the beginning of the closing phase, but it can be a long process until they finally take ownership. 

Let us help guide you through the home-buying process by explaining the realities you might not be aware of as you look for your new home. Call us at 598-3200,or, (800) 677-MOVE (6683).

and, as long as we are talking about real estate myths, here are

7 COMMONLY HELD myths about Home Inspections

Source: American Society of Home Inspectors, Des Plaines, Ill.

An estimated 70 percent of all homes sold annually receive a home inspection. Still, confusion persists over what the process does, and doesn’t, involve. Here are seven common misconceptions:

1. 1.       Licensing ensures a professional home inspection. Wrong. Currently, 29 states have some form of inspector regulation—but state requirements vary widely. Verifying the inspector’s credentials, experience, and adherence to professional standards is still important, even in a state with licensing.
2. 2.       A home inspection is designed to identify problems that might be the basis for renegotiating the purchase offer. Wrong. The inspector’s service is primarily one of education, providing buyers with a better understanding of the physical condition of the home and giving them the knowledge to make smart decisions. The inspector’s observations or recommendations might help to dispel buyer anxieties and provide useful home repair and maintenance suggestions. When areas of concern or problems are identified, the inspector should play no role in fixing them or addressing them with the seller.
3. 3.       Home inspections are needed for existing homes only. Wrong. New construction is often the most in need of a thorough inspection. Many professionals offer “phase inspections” in which the property can be checked at various stages of completion.
4. 4.       Having an appraisal, code inspection, and termite or other hazard inspection eliminates the need for a separate home inspection. Wrong. While each of these inspections is valuable, these should never be used in place of a complete home inspection. Similarly, a home inspection should never take the place of other prescribed inspections.
5. 5.       Home inspections are for the buyer. It’s true, most inspections are conducted on buyers’ behalf during the purchase process, but prelisting inspections for sellers also can be beneficial. Prelisting inspections can identify areas of concern to be addressed before the sale and can assist in disclosure matters. The American Society of Home Inspectors recommends that a home be inspected every 10 years, regardless of whether a sale is taking place.
6. 6.       Home inspectors are too nitpicky and will identify every little problem in the home. A professional home inspection is an objective examination of the condition of the visible and accessible components of a home on the day of the inspection. Professional home inspectors don’t point out every small problem or defect in a home. Minor or cosmetic flaws, for example, should be apparent without the aid of a professional.
7. 7.       All home inspector certification and credentialing programs are equal. Some organizations for inspectors offer credentials in return for nothing more than an annual payment, while others are new or exist mainly online. When selecting a home inspector, look at the background, history, and reputation of the person’s certifying organization.

This is another area in which we can assist you. Give us a call at 598-3200,or, (800) 677-MOVE (6683).

And, please remember, I would be honored to serve as your Broker for all of your residential real estate needs. I want to help you, my reader, make the most prudent and accurate Real Estate business decision.

Also if you know of anyone who desires to buy or sell local real estate, or, who is moving in or out of the Pikes Peak region, remember that, with over 39 years of providing relocation and Real Estate services to clients throughout the country, I am uniquely qualified to assist them with the relocation process, including buying and/or selling their homes on both ends of their move. Please allow me to implement my negotiating skills on your behalf.

Just click on the icon at the top of this email to listen to my podcast for this month …

LATEST SALES AND LISTING STATISTICS

Click here to see the latest Sales and Listing statistics for the Pikes peak area, as published by the Pikes Peak Association of Realtors.

JOKE OF THE WEEK

We came across this joke on the Internet, and the timing seemed right !

The government is recommending another ‘Economic Stimulus’ aimed at pumping money into the economy, to help pull us out of the recession (which officially ended several months ago, in case you hadn’t noticed).  

This is indeed a very interesting idea, but many people don’t understand how to best spend their stimulus money in order to help the economy, so, we’ll explain it by using a Q & A format:

Q. What is an 'Economic Stimulus' payment ?
A. It is money that the federal government will send to taxpayers.

Q.. Where will the government get this money ?
A. From taxpayers.

Q. So the government is giving me back my own money ?
A. Only a smidgen of it.

Q. What is the purpose of this payment ?
A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy.

Q. But isn't that stimulating the economy of China ?
A. Shut up.

Below is some helpful advice on how to best help the U.S. economy by spending your stimulus check wisely:

* If you spend the stimulus money at Wal-Mart, the money will go to China or Sri Lanka .

* If you spend it on gasoline, your money will go to the Arabs.

* If you purchase a computer, it will go to India, Taiwan or China .

* If you purchase fruit and vegetables, it will go to Mexico, Honduras and Guatemala .

* If you buy an efficient car, it will go to Japan, Korea or Finland .

* If you purchase useless stuff, it will go to Taiwan .

* If you pay your credit cards off, or buy stock, it will go to management bonuses and they will hide it offshore.

Instead, if you want to keep the money in America, you should consider:

1) Spending it at a yard sale, or

2) Going to a ball game, or

3) Spending it on prostitutes, or

4) Beer, or

5) A tattoo.

(These are the only American businesses still operating in the U.S. )

Conclusion:

When you receive your stimulus money, the most patriotic thing you can do with it is, go to a ball game and drink beer all day with a tattooed prostitute that you met at a yard sale. !

No need to thank us, we’re just glad we could be of help.