ENewsletter - Dec. 18, 2009
HARRY’S COLUMN
WANT A HOT STOCK TIP?
If a friend recommends a stock to you, before you add it to your portfolio, the first thing you should do is to look at how the stock compares with other comparable stocks. What’s its history? What factors will affect its future performance? Does it represent a good value today and does it have a good potential for growth tomorrow?
O.K. Let’s pretend that your friend has recommended that you buy “stock” in Colorado Springs and let’s pretend that you are evaluating Colorado Springs as you would examine a publically-owned company as a potential investment. How does this community compare to the other cities that you might want to invest in? Here are some of the areas in which Colorado Springs stands out:
1. Our local unemployment rate is 7.2%, as opposed to the national rate of 10% …That’s 28% better than the rest of the country.
2. We are listed in all national surveys, such as Forbes and Money Magazine, as one of the top ten cities for quickest recovery from the recession.
3. According to the Consumer Price Index, we have a cost of living that is 5-8% lower than the national average.
4. The strong, military presence in our local economy provides a stable, reliable source of income and tax revenues. Furthermore, the scheduled addition of thousands of new troops into Fort Carson during the coming years will be a tremendous boost to our economy in the form of increased home sales, retail sales and tax revenues.
5. Our local workforce is skilled and well-educated (Our SAT and ACT scores are outstanding)
So, you would have to conclude that buying stock in Colorado Springs represents a great investment opportunity, right now and for the long haul.
And, to take this process one step further, if you are a potential Homeowner or a potential Investor, consider that home prices are now very attractive, interest rates are at an all-time low and the Federal Tax Credit which is now available to both First-Time and Repeat Home Buyers is just icing on the cake.
To sum it all up, considering all of the above, if this were a stock tip, you would be rushing to add it to your portfolio.
The moral of the story is: BETTER BUY NOW !!!
BROOKINGS SURVEY SHOWS COLORADO SPRINGS LOOKS GOOD
The non-profit Brookings Institution, in partnership with the University of Nevada, has issued the Mountain Monitor, the first in a series of quarterly reports on the economic recovery in Colorado, Arizona, Idaho, Nevada, New Mexico and Utah. According to the report, “Colorado Springs weathered the downturn better than the average U.S metro”.
Some of the highlights of the report are:
Between Sept. 2008 and Sept. 2009, Colorado Springs jobless rate rose only 1.6%, the fifth-best nationally.
Among the 10 largest metro areas, only Colorado Springs and Denver registered year-over-year increases in home prices by the end of the third quarter, primarily because they were not heavily involved in the excessive real estate speculation that caused the bursting of the housing bubble in some other cities.
The report goes on to state, “…Colorado Springs has weathered the recession significantly better than other Mountain metros on almost every measure” and our city “seems poised to renew its upward trajectory as the pace of recovery quickens”.
NEW MORTGAGE SECURITY GUIDELINES PROPOSED
The Federal Housing Administration is reportedly about to announce that the minimum down payment requirement for FHA loans will be raised from 3.5% to 5%. In addition, the monthly FHA mortgage insurance premium is scheduled to increase and the “FICO” score required for Borrowers’ credit worthiness will also increase. We will keep you advised about this issue, as more is announced.
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 37 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 latest podcast. ….And, if you would like to learn more about our Job Loss Protection Program, or, about our CyberHomes Complete Market Analysis of a property, please contact us.
JOKE OF THE WEEK
The Devil appears to a Congressman and says, “Look, I can make you rich and famous, guarantee your re-election and make you the darling of the media.”
“Well,” says the Congressman, “what do I have to do in return?”
The Devil smiles, “Well, of course you have to give me your soul,” he says, “but you also have to give me the souls of your children, the souls of your children’s children and, as a matter of fact, you have to give me the souls of all your constituents throughout eternity.”
“OK” the Congressman says cautiously, “What’s the catch?”