HARRY'S BI-WEEKLY UPDATE
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July 22, 2013
HARRY’S BI-WEEKLY UPDATE A Current Look at the Colorado Springs Residential real estate Market
FIRST, MY PERSONAL “ROCKY MOUNTAIN HIGH”…
On 7.7.13 at 11:00 a.m. in Las Vegas, NV, I married Carol Black. We’ve known each other for more than 50 years. And yes, I even managed to produce an e-Newsletter for you that week because she is not only my wife, but the Editor of this publication! I just wanted to share my personal “news” with those of you who haven’t yet heard about it. So that’s our big “WOW”.
AND NOW SOME “WOWs” FOR YOU—“HOT OFF THE PRESS” Southern Colorado Economic Forum—Quarterly Updates and Estimates—July 2013
I received the “Quarterly Updates and Estimates” from the Southern Colorado Economic Forum/UCCS College of Business just three days ago and it contains a lot of the same GREAT news that our readers have seen in the recent MLS of PPAR data that I shared on July 8, 2013.
This report will show MLS activity on various charts through June 2013 on pages 6 & 7. Also included are:
In the Update of the “El Paso County Economy”, the best performing indicators were:
“Other improvements were seen in employment, the employment rate and foreclosures. Housing and new vehicle registrations have led the local economy out of the recession and the increase in sales tax numbers points to a broad level of recovery in the near future.”
As an aside, The Gazette on Saturday also indicated that sales tax collections are continuing their “winning streak” by showing 18 consecutive months of increases. “Consumer spending in Colorado Springs remained strong in May, according to a report on sales tax collections from the city’s Finance Department.”
According to Fred Crowley, senior economist for the Southern Colorado Economic Forum (and author of this Quarterly Update), “Consumer confidence is quite strong right now. Consumers are feeling good about the local economy because they are seeing employment and income growth.”
In the “Analysis of the El Paso County Residential housing market”, it is noted that :
Our local “Economics Guru”, Fred Crowley, would agree that statistics demonstrate to BUY NOW. I’ve been saying this for more than a year and now all the experts are getting on the bandwagon too. It’s NOT too late, but it IS time to start the discussion so the sooner you contact me, the sooner I can go to work for you.
In the “Single Family Permit Forecast” we see:
In “MLS Activity”:
Click here for the report in its entirety. As always, if you have any questions about this report or how it pertains to you personally, please call me at 598.3200 or email me at Harry@HarrySalzman.com and I will be happy to provide you with answers.
What’s most important for you to know right now? Well, as you will see in the report, Average and Median Home prices are continuing to increase and will continue to rise as supply lessens.
Not part of this report, but a fact of real estate life—Mortgage Interest Rates are also continuing to increase. While they are still historically low, they are not where they were even a few weeks ago and they will continue upward. Mortgage rates are still very affordable for most people so don’t panic yet---but, if you are in the market, NOW is the time to get serious about it.
Inflation will also increase in 2013. Therefore, based on statistics and from a practical point of view, again, I would suggest that now is the time to sell and trade up or buy for yourself or for investment purposes.
If you or any family member or co-worker is interested in how today’s market can work in your favor, please call or email me today. I can provide you with the detailed information you need to make an informed decision by looking at your wants, needs and budget requirements. If there is a solution to make your real estate dreams come true, with more than 40 years in the local market, I’m the one who can help make that a reality.
PS: I’d like to encourage you to plan on attending the Annual Southern Colorado Economic Forum on the morning of September 26, 2013 at The Antler’s Hotel. I am a proud sponsor of this important event and I believe you will walk away with a greater understanding of the economics of the Pikes Peak area and how it affects you both personally and professionally.
THREE COMPELLING REASONS TO BUY NOW RISMedia 7.12.13
With the tide starting to turn from a Buyer’s Market to a Seller’s Market, here are a few pointers that I wanted to share with you. They keep cropping up in article after article; therefore I thought you might benefit from knowing the three most compelling reasons to buy now:
If there is anything I would like to get across to you, my readers, it’s that no matter what you see going on today, real estate is going to be a great investment in the long haul. If you remember that, and let me assist you in helping make the best choices available, you will find that today’s market will most definitely work for you and your residential and financial long term goals.
PHILOSOPHY OF THE DAY “Some men see things as they are and say ‘why?’ Others dream things that never were and say, ‘why not?’” --George Bernard Shaw
“We do not remember days. We remember moments in our lives.” --Unknown
FEATURED LISTING
Harry A. Salzman. CRS, CRP, CNE email: Harry@HarrySalzman.com Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
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