Real Estate Information

May 13, 2013

HARRY’S “SPECIAL EDITION”

News So Good It Just Couldn’t Wait

EXTRA! EXTRA! EXTRA! EXTRA! EXTRA!

I WANTED YOU TO BE THE FIRST TO KNOW….

This is such positive Residential news that I couldn’t wait until the next eNewsletter to share it with you.

National Association of Realtors (NAR) has just published the “Median Sales Price of Existing Single Family Homes for Metropolitan Areas.” The reported average median sales price gain of the 150 largest communities in the U.S. was 11.3% over the same time period last year. These figures from NAR are calculated from every closed sale listed in the MLS within these areas.

Colorado Springs has experienced a median sales price gain of 13.1% for that same time period. I have always liked to use the words “relative strength” to compare a house, a neighborhood, price ranges, sales, etc. The fact that our local market has appreciated by about 16% better than the average of the 150 largest communities in the USA shows that the Colorado Springs population is more confident in home ownership than in many other cities nationwide.

What this tells us is:

With the increase in demand for homes and the supply of listings greatly reduced, the basic expectation is that our home values and prices will continue to increase.

Sellers are receiving a higher price for their homes and Buyers are agreeing to pay more today vs. one year ago.

Now is a great time to upgrade to the home you have been wanting. Many people have been waiting to make a move to a better neighborhood because the former marketability and value of their existing home may not have been at a reasonable selling price.

Buyers are taking advantage of the still historically low mortgage interest rates, not knowing how long they will last.

This appreciation has also been a terrific gain to Homebuilders as homeowners now have the equity available to build.

The NAR survey comparisons are produced approximately 6 weeks after the end of each calendar quarter. Since this only compares the First Quarter 2013 to last year’s same time period, we already know that our local market conditions continue to escalate even through last month, April 2013. And from where I sit, I can honestly say I haven’t seen this kind of Residential activity locally in a good number of years and it just keeps getting busier.

Friday’s Wall Street Journal stated that “home prices in metropolitan areas saw their biggest year-over-year gains in more than seven years in the first quarter, evidence that the housing recovery is spreading across the nation.”

The article went on to say that “the NAR’s quarterly report is a good measure of general price trends, but the results can sometimes overstate the magnitude of price gains because they don’t control for shifts in the number of homes sold in various price categories. As a result, the median price can rise sharply if sales of higher-end homes increase faster than sales of lower-priced homes.”

And according to Lawrence Yun, NAR chief economist, many areas in the USA are experiencing a Seller’s market. “The supply/demand balance is tilted toward Sellers in a good portion of the country,” he said. “Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation. If homebuilders can continue to ramp up production, then home price growth is expected to moderate in 2014.”

NAR President Gary Thomas said that conditions also remain favorable for Buyers. “Even with rising home prices, there is still plenty of buying power in the market,” he said. “Historically low mortgage interest rates and home prices that remain well below their peak mean most Buyers can purchase well within their means, assuming they meet ongoing stringent credit standards.”

I have been providing this Quarterly data from NAR to our readers for many years and do not recall a gain like this recently published quarter, in our local market, since we first created our eNewsletter!

To view the entire NAR Quarterly Report and see how the rest of the country is doing in comparison to our local market, please click here.

If you have any questions concerning this report or how the current market is affecting you personally, please call me at 598.3200 or email me at Harry@HarrySalzman.com .

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6740 Northrim LN

Price: $689,000

Beds: 5

Baths: 4

Sq Ft: 6552

THIS IS IT - AN EXCEPTIONAL HOME NOT TO BE MISSED! A ROCKY MOUNTAN HIGH WITHIN THE CITY! VIEWS TO DIE FOR! YOU WILL ENJOY THE ACTUAL LOT, THICK OF PINE TREES, HIGH ON A CUL-DE-SAC, PLUS MORE OPEN SPACE TO THE WEST. ONE OF A KIND MOUNTAIN SETTING IN ...

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Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs

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HARRY'S BI-WEEKLY UPDATE

Monday, May 6, 2013

by Harry Salzman

May 6, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

AN AMAZING APRIL FOR real estate SALES

You are about to see the fabulously positive residential activity for April. When providing our professional opinions to our readers regarding the most current home data, we always include up to date market conditions.

The reason for this is to allow our readers to experience what is actually happening in the real estate market as we deal with it on a daily basis. The few years prior to 2012 haven’t been too exciting to say the least, but…those days are gone. The current housing market is the most exhilarating that we’ve experienced in a long while.

So, here’s the WOW for a Seller of mine. This long time client wanted me to list an investment house that had been occupied by a tenant for the past 8 years. I made some suggestions as to how the home might be more marketable with a few “updates”. The house went on the market as a new listing on MLS at approximately 11:30 a.m. on April 28^th. By the end of that same business day we received not 1, not 2 offers at full price but a 3rd offer just over list price and….a 4^th offer for considerably OVER list price. Yes, that was all on the afternoon/evening of the listing day.

But, I can’t stop there…the next day another offer was received. Unfortunately that Realtor should have contacted me to see if the property was available prior to taking the time to create an offer that had no chance of being taken, and thus disappointing their clients.

Talking to the other Realtors whose offers were not taken gave us all a glimpse at the “New Normal” that is trending in real estate now. There are simply not a lot of choice of listings compared to a year ago, and current listings have fewer days on the market.

AND NOW FOR THE NUMBERS…

April activity in Colorado Springs was exciting. Many of these numbers seem ‘off the chart” positive and yet they are real, as I’ve personally experienced. To illustrate that, here are some highlights of the April 2013 Pikes Peak Association of Realtors (PPAR) Report for Single Family/Patio Homes (Year-over-year comparing April 2012 to April 2013)

Number of Sales—932. Up 18.9%
Average Sales Price---$235,161. Up 6.3%
Median Sales Price---$214,925. Up 11.6%

Locally, home prices have continued to increase in 20 of the past 22 months—yes, that’s almost two years. Last month was the best April for sales since 2006.

The total active Single Family/Patio Homes as of April 30, 2013 is 3377, which is about the same as the 3383 of a year ago.

I really encourage you to look over the actual activity in all areas in and around Colorado Springs to see for yourself why I’m so excited about this data. All of the numbers are moving up on a regular monthly basis.

Taking a look at Sales Activity only in 2013, between January and April of this year we are at 3121 home sales which is up 25.1% over that same period a year ago. Now that’s a huge WOW!

To look at the 12-page PPAR Report and see how your area is performing, please click here. I am available to answer any questions you may have concerning this report or any of your real estate needs. Just call me at 598.3200 or email me at Harry@HarrySalzman.com .

And to make the picture even brighter, mortgage rates are bottoming out again with 30-year fixed rates today at 3 3/8%, and 15-year fixed rates at 3.0% (and maybe some at 2 7/8%).

As you are aware, I’ve been predicting this for more than a year now and here you will see actual numbers to back up my words. So, if you, your family, friends or co-workers are thinking of selling and trading up, buying or looking for investment property, NOW is the time. I will be happy to discuss all our your viable options in these areas, and as always, will take your individual needs, wants and budget into consideration.

A WORD ABOUT “ASSESSED PROPERTY VALUES”

During the past week most local property owners should have received the latest “Real Property Notice of Valuation”. No, this isn’t a tax bill, it is what the El Paso County Assessor feels the property value will be based on for the 2013 tax assessment.

What might this mean to a property owner? The Assessor’s office can use comparable properties to establish real property values from a 24 month time period. The new and updated Assessor’s value of a property (per Colorado Revised Statute 39-1-104 (10.2) (a) (b) (c) (d) ) began July 1, 2010 and ended June 30, 2012.

What I believe is that the Residential Market Value of your home today is higher than what your home was worth over the period of July 1, 2010 to June 30, 2012.

I have already been fielding questions from clients to explain their current situation and am more than happy to help explain what the value stated on the Assessor’s form you just received means to you.

The good news is that the 24 months of real estate values that was used for this current assessment was lower than today’s probable home value.

Even though today’s assessed value of a home is “x”, the current market has nothing to do with the recently received assessed value because the local market was most probably lower during the two year period on which the assessment is based.

It is also worth keeping in mind that today’s market value, even a “current market anaylsis” has nothing to do with the appropriate value for the most current Assessors Property Value.

LOCAL JOBLESS RATE IS AT A 4-YEAR LOW AND HOMEBUILDING STARTS JUMP

The 8.3% unemployment rate for Colorado Springs is the lowest since February 2009 and that’s great news for the housing recovery here. More people working is helping to fuel the jump in homebuilding starts. The 302 permits in April in Colorado Springs and El Paso County is a 58.1% jump over April 2012. It’s also the highest number of permits issued by Regional Building in any month since June 2006.

And while foreclosures aren’t yet a thing of the past, they are falling quickly as local housing demand and home prices rise. Just more good news in the local market.

AND NOW FOR THE NATIONWIDE REPORT FROM THE LAST FEW DAYS

Our local real estate Market is on a roll and ahead of many other communities in the rest of the country. That being said, it’s always good to follow what’s happening nationally because good news there ultimately means even better news for us.

The Wall Street Journal reported on May 1 that “home prices are rising at the fastest rate in seven years, with some communities seeing double-digit gains, as buyers are returning to a market where the number of properties for sale is in short supply.” Prices jumped 9.3%--the quickest rise since 2006, with gains seen all across the country.

Even with some concerns that traditional Buyers are facing still stringent mortgage lending standards and being squeezed out by investors able to make winning cash bids, “for now, recent data suggest home price gains are likely to continue. Sales of previously owned homes rose by 10.3% from one year ago in March, even as supplies of homes for sale fell by 16.8%.

Demand has picked up as the economy has added jobs, which has boosted household formation. Rising rents and falling mortgage rates have made (home) ownership more attractive.”

The article goes on to say that “even with the gains in home prices, housing is more affordable than at any time in the past 30 years because mortgage rates are so low.

The concern is that home prices could more easily rise above their traditional relationship to incomes because lower mortgage rates will enable buyers to swallow price increases. ‘We are encouraging people to buy an asset that, when [mortgages] rates go back to 6% to 8%, will look a bit overpriced,’ said Stan Humphries, chief economist at Zillow.”

The WSJ also says that “what’s bad news for home buyers is good news for builders; the low inventory of previously owned homes for sale is driving up new-home sales—and prices. New home sales jumped 1.5% in March to an annual pace of 417,000, the second-highest monthly sales pace in three years. Year-over-year March sales were up 18.5%.”

USAToday reported on May 1 that “a tight housing supply and investor buyers pushed up February home prices at their fastest monthly rate in eight years, but job growth is a factor, too. ‘Prices are growing faster in markets with stronger job growth,’ says Jed Kolko, chief economist for real estate website Truilia.”. We can see this in our own local market as I mentioned earlier.

On Friday USAToday reported that “home loans get dirt cheaper” and that “about a quarter of refinancing applications in March were for 15-year fixed-rate loans, according to the Mortgage Bankers Association. For purchase loans, 85% of consumers take longer loans. But applications for 15-year mortgages to buy homes have risen nearly twice as fast as 30-year purchase-loan applications.”

Citing a report from the Standard & Poor’s/Case-Shiller 20-city home price index, The Gazette on May 1, reported that “U.S. home prices rose 9.3% in February compared with a year ago, the most in nearly seven years. The gains were driven by a growing number of buyers who bid on a limited supply of homes.”

REALTORMag reported that home “sales have been above year-ago levels for 21 consecutive months, while prices show 13 consecutive months of year-over-year price increases.

Lawrence Yun, NAR chief economist, said there is more demand than supply in the current market. ‘Buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity,’ he said. ‘In the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices. The good news is home construction is rising and low mortgage rates are continuing to keep affordability conditions at historically favorable levels. The bad news is that underwriting standards remain excessively tight, while renters are getting squeezed by higher rents.’

‘The inventory improvement last month results from a seasonal gain, but conditions continue to broadly favor Sellers. We need a housing supply of over 6 months to have a generally balanced market between home Buyers and Sellers, but it’s unlikely we’ll get there without greater increases in housing construction,’ Yun said.”

THERE’S NO BETTER TIME THAN THE PRESENT

As you can tell from both national and local news, today we’ve got the best of both worlds. Sellers are seeing quick turnaround times at prices that are considerably higher than in the recent past and Buyers are seeing mortgage rates that allow for the price increases. If you’re looking to sell and trade up or seeking investment homes to rent, this is an opportunity that won’t be around forever. Home prices will continue to rise, but we don’t know how long these historically low interest rates will be available.

Again, what all this means is exactly what I’ve been telling you for the past year. Now is the time to sell and trade up or invest. Call me with any questions, or simply to find out what’s going to make the most sense to you personally in this fast changing market.

JOKE OF THE DAY

Why did the man take his computer to a clinic?

It had a virus.

What do you get when you cross a computer with a toad?

A wart processor.

How was the computer convention?

Crowded. You couldn’t get a nerd in edgewise.

Jimmy was explaining to his dad the kind of computer he wanted. “First we’ll discuss hardware, and then we’ll talk about the software I need.”

“Wait a minute,” said Jimmy’s dad. “How is hardware different from software?”

Jimmy just shook his head and said, “Hardware is the part of a computer that you can kick.”

Did you hear about the computer with the corrupt hard drive?

Its backup was worse than its byte.

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HARRY'S BI-WEEKLY UPDATE

Monday, April 22, 2013

by Harry Salzman

April 22, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

“OH GIVE ME A HOME….”

One month, or even one quarter, doesn’t re-create market direction. However, as I’ve been saying for some time now…..”we’re back”….and doing better than even I might have predicted.

Yes, the Pikes Peak Regional Market is moving in a very positive direction. This is great news for sellers who are looking to recoup market losses sustained during the recession as market value has increased about 11% in the past year. For buyers who are looking to trade up or invest, this is also a good time. While you may pay more than you would have last year for that same home, the upward trend will allow you to see appreciation that hasn’t been seen for some time now.

With mortgage rates staying close to historic lows, now is a great time for first time buyers to consider their options, too. Rental properties are scarce and rental prices are escalating so it certainly makes sense to find out how to capitalize on the current home market situation.

FIRST QUARTER 2013 INDICATORS SHOW LOCAL MARKET RECOVERY IN FULL SWING

Data provided by the Pikes Peak Realtor Services Corp, from Pikes Peak MLS

Well, the data is out and our Local real estate Market is booming. In fact, the comparison of Local to State data is also very positive, as you will see below. This is good news for those of us in the Pikes Peak Area. The Colorado Springs economy is improving and several hundred jobs have been added in the first few months of the year, giving confidence and motivation to homebuyers. With things continuing to improve, I would expect the housing numbers to continue on their upward rise.

Whether you are actively looking, or simply curious as to how your home is doing in comparison to others, take a look at the recently published local real estate statistics for homes in the Pikes Peak Area.

ACTIVITY SNAPSHOT/ Comparison of State of Colorado to El Paso/Teller Counties

(change in year-over-year statistics)

State El Paso/Teller Counties

Sold Listings: +16.1% +21.5%

New Listings: -7.2% +2.2%

Median Sales Price: +14.8% +12.6%

Local Market Overview:

New Listings +10.0%

Sold Listings +21.5%

Median Sales Price +12.6%

Average Sales Price +7.9%

% of Sold to List Price +.07%

Days on Market -17.3%

Active Listings +2.2%

Months Supply -9.1%

For a complete overview of the local first quarter 2013, please click here.

Along with this general information, also included are statistics for each individual area of the Pikes Peak region. Now you can compare different areas in our community to any other, if you desire, or simply see how your specific area is doing.

1st QTR. 2013 YEAR-OVER-YEAR STATISTICS FOR THE PIKES PEAK AREA*:

Median Sales Price Average Sales Price

Black Forest: -4.7% -18.5%

Briargate: +24.1% +20.3%

Central: +9.8% +5.3%

Divide: +29.4% +15.4%

East: +13.1% +1.3%

Falcon North: +1.9% +4.3%

Florissant: +25.0% +0.1%

Fountain Valley: +20.0% +17.4%

Manitou Springs: +10.5% -0.8%

Marksheffel: +19.7% +19.1%

Northeast: +10.5% +9.3%

Northgate: +10.5% +5.5%

Northwest: +6.8% +8.3%

Old Colo.City: +15.8% +13.6%

Powers: +9.9% +15.1%

Southeast: +1.7% +3.2%

Southwest: +2.9% +1.6%

Tri-Lakes: +18.5% +6.5%

West: -4.7% +0.4%

Woodland Pk: +8.6% +18.5%

*Statistics from the Pikes Peak MLS, provided by the Pikes Peak REALTORS Services Corp.

As you can see, things are continuing to move rather quickly and we are now experiencing a market resurgence that’s here for the foreseeable future. To see the complete breakdown on any area listed, click here. As always, I am here to answer any questions you may have about these reports or any real estate concerns you may have.

And, as I mentioned earlier, if you’re in the market for a new home, NOW is the time. With very limited inventory and percent of days on the market quickly going down, there are multiple buyers for fewer properties. To be certain you can get exactly what you are looking for at a price that fits your budget, call me today at 719.598.3200 or email me at harry@HarrySalzman.com and let’s start talking.

WHAT THE EXPERTS ARE SAYING ABOUT THE ECONOMY AND housing market

REALTOR.Mag:

“Fannie Mae economists say that ‘the broadening housing recovery could very well be more robust’ than they anticipated, according to the mortgage giant’s latest monthly economic outlook report.

Low inventories of homes for sale are contributing to rapid price increases all across the country, which are expected to continue throughout this year.

As home prices rise, Fannie economists say they expect that will encourage banks to ease up on the tight lending conditions, which have been one of the major barriers in returning to a more ‘normal’ housing market.”

“The housing recovery was a key factor in the moderate economic growth seen in late February and March, the Federal Reserve reports.”

RISMedia.com:

“Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s Economic & Strategic Research Group.

‘The April forecast reflects the growing realization that 2013 is off to a good start from a GDP perspective, but we expect the stronger-than-expected first quarter pace to slow somewhat in the second quarter,’ said Fannie Mae Chief Economist Doug Duncan. ‘However, the housing recovery continues to broaden and may be more robust than we anticipate, helping to offset fiscal headwinds’.

More optimism in the housing market adds an additional dimension to the spring buying season. Beyond other factors, 80% of prospective buyers are looking for a good value this spring and are open to exploring neighborhoods they hadn’t previously considered to achieve that objective.

‘Our survey data shows that people are feeling better about their personal siuations and the U.S. economy,’ says Stephen Phillips, chief operating officer for HSF Affiliates. ‘At the same time, respondents’ views of residential real estate have grown increasingly favorable. We believe more consumers will enter the market this year to capitalize on mortgage and pricing opportunities and to secure their part of the American dream’.”

inmanNEWS:

“Housing starts have hit the highest level in five years in March, rising 7.0% month-over-month and 46.7% from a year ago in March, according to a monthly report from the U.S. Census Bureau released on April 16, 2013.

With tight inventory in many parts of the country, housing starts are critical to the housing market turnaround, according to Lawrence Yun, chief economist of the National Association of Realtors. There have to be homes available for those who sell their homes, he has said.”

USAToday:

“Lenders loosen up on home loans.”

The number of lenders quoting non-Federal Housing Administration loans with 5% to 10% down payments on Zillow Mortgage Marketplace is almost double what it was two years ago, Zillow says.

The articles goes on to explain that the “industry is still a long way from the easy-lending standards that caused the housing bust. Borrowers now must show a strong credit history and documented income to get loans.”

“While the FHA requires just 3.5% down, its annual insurance premiums have more than doubled in the past two years. The last increase was April 1 and the higher costs are ‘causing a shift back toward conventional loans,’ says Cameron Findlay, chief economist at Discover Home Loans.”

Following the April 1 increase, “FHA applications for home loans fell by almost 14% for the week ended April 5 while applications for conventional loans rose more than 5%, the Mortgage Bankers Association says.

Rising home prices have also helped lenders get more comfortable with low-down-payment loans.”

WHAT DOES ALL THIS MEAN TO YOU?

I’m going to say it one more time. NOW is the time to start considering your home buying, selling to trade up or investment options. With home values and prices on the rise, inventories tumbling, mortgage rates still low and lower down payments becoming a reality, it’s worth looking at all the options available to you. I’m just a phone call or email away and it would be my privilege and pleasure to help you obtain information to make an informed personal financial decision.

SKY SOX UP AND RUNNING…

Baseball season is underway and with balmier weather on the horizon, I want to remind you that I have four front row season tickets to the AAA Sky Sox available at no charge to you on a first come-first served basis to any home game. Just give me a call at 598.3200 to request the date of your choice. We’ve got a great roster of players this season so call soon as the tickets go quickly. Just another way I like to say “thank you” to clients and friends.

JOKE OF THE DAY

If My Body Were A Car!

If my body were a car, this time I would be thinking about trading it in for a newer model. I’ve got bumps and dents and scratches in my finish and my paint job is getting a little dull. But that’s not the worst of it.

My headlights are out of focus and it’s especially hard to see things up close.

My traction is not as graceful as it once was. I slip and slide and skid and bump into things even in the best of weather.

My whitewalls are stained with varicose veins.

It takes me hours to reach my maximum speed. My fuel rate burns inefficiently.

But here’s the worst of it.

Almost every time I sneeze, cough or sputter,

Either my radiator leaks or my exhaust backfires!

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Harry's Bi-Weekly Update

Monday, April 8, 2013

by Harry Salzman

April 8, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

IT’S SPRINGTIME AND BASEBALL SEASON IS HERE

Springtime brings new beginnings, spring cleaning, baseball season and more. Springtime also brings us into the busy season for real estate sales, and with the housing recovery continuing it’s upward climb, there’s no better time than now to exercise your options in that area if that’s something you’ve been considering or putting off during the downturn.

As for baseball, I have four front row season tickets to the AAA SkySox that are available to you on a first come-first served basis to any home game. Just give me a call at 598.3200 to request the date of your choice. We’ve got a great roster of players this season so call soon as the tickets go quickly. Just another way I like to say “thank you” to clients and friends.

NOW ABOUT THAT LOCAL HOUSING RECOVERY…

There is great news, not only for March 2013, but also for the First Quarter of 2013.

To illustrate, here are some highlights of the March 2013 Pikes Peak Association of Realtors (PPAR) Report for Single Family/Patio Homes (Year-over-year comparing March 2012 to March 2013)

New Listings--1423. Up 17.5%
Number of Sales--867. Up 19.9%
Average Sales Price---$239,623. Up 10.4%
Median Sales Price---$212,000. Up 12.2%
Inventory of Active Listings--3069. Down 6.2%

As for the Quarter ending March 31, 2013, the number of sales were 2189—28% higher than for the first Quarter of 2012. The number of sales in the Colorado Springs area have continued increasing for 19 of the past 21 months. If you’ve been reading my eNewsletter during the past year, you know I’ve been telling you this was going to happen and that the cycle has turned from only a Buyers market toward a Sellers market, depending on price range, location, etc. This is good news all around. If you are looking to sell and trade up, you will more than likely get more for your home, even if you end up paying more than you might have for the next one. That’s because there’s still at least one thing in your favor—an almost all-time low in mortgage lending rates. While no one knows for sure how long that’s going to last, it’s here now and ready for you to take advantage of if you are considering a move in that direction.

Click Here to see 11 pages of local Residential statistics which include:

Listing and Sales Summary through March 2013
Colorado Springs Area Monthly Sales Analysis
Active and Sold Listings per different price ranges
Monthly Sales Activity per areas split between Single-family & Patio Homes and Condos and TownHomes
First Quarter 2013 Data for all the above

COLORADO BEATS U.S. IN MANUFACTURING GROWTH

While manufacturing growth in the U.S. in general showed weaker numbers for March, The Colorado Business Conditions Index, released last week by the Goss Institute for Economic Research, rose to 60.8 in March from February’s 58.9. This is based on a survey of supply managers in the state and a number above 50 indicates expansion.

The Institute for Supply Management’s Index of factory activity did show that U.S. factories are hiring at the fastest pace in 9 months which will no doubt trickle over to keep the Colorado numbers strong too.

And once again, with manufacturing up, the housing recovery will continue on it’s way up, too.

“PRICES ARE UP. BUYER DEMAND IS STRONG. LOOKS LIKE AN OPPORTUNE TIME FOR SELLERS TO JUMP BACK INTO THE MARKET”

A quote from me? Could have been, but actually it’s the title of an article from Forbes last week that caught my eye.

According to the article, one of the main reasons Sellers and Buyers are entering the market now is prices. For homeowners who want to sell and trade up but have been stuck on the sidelines due to lower home valuations, now might be a great time to get back in the game.

Realtor.com data from metropolitan areas around the U.S. found median list prices in February up 5 percent in more than 51 markets and much more in many of them. The National Association of Realtors’ Survey reported a median price gain of closed home sales of 11.6 percent compared year over year. This 12 month consecutive price increase was the first since 2005-2006 year over year.

The Forbes article concluded with this basic fact: “Housing demand is up dramatically this spring, consumer expectations for additional increases are for real, and rising housing prices make it an opportune time for sellers to jump into the game.” While “not all potential sellers can afford to do it…for the vast majority who have positive equity, the upcoming spring, summer and fall markets look encouraging.”

AND ON THAT SAME NOTE...

According to The Wall Street Journal, home prices are rising at the fastest pace in over six years, with demand up at at time when the number of homes for sale has fallen to the lowest in decades.

Data from Clear Capital indicates that “home prices nationwide are going into the second quarter on solid ground and are expected to remain positive throughout the year”. This is based on home prices having stayed positive over the winter for the first time since 2006.

“It has been seven years since home price growth continued through winter. This is very strong evidence of the start to a new leg of the recovery, one that should give further confidence to consumers and lenders alike that the recovery is real,” said Alex Villacorta, director of research and analysis at Clear Capital.

Pending home sales are being hampered by inventory and that’s not likely to change in the near future. RealtorMag reports that some would-be, move-up home sellers are “waiting to see how much home prices appreciate more before they consider selling their homes. But they may be missing their perfect opportunity, some housing experts say. Homeowners who wait much longer to sell their home may miss out.”

The Wall Street Journal also pointed out that investors are now “piling into housing…this time as landlords.” That article goes on to say that “today’s investors are mostly buying with the intention of holding on to the homes and renting them out. Fear of buying homes when prices are dropping has been replaced by the fear of missing out on cheap homes.”

And from USAToday we learned that “’Boomerang buyers’ are securing loans despite foreclosures.” A number of homeowners who lost their homes to foreclosure or bankruptcy are now returning to the home market in record time. With as little as three to seven years after losing their homes, many of these people have turned around their credit and are now able to purchase homes even bigger than ones they had previously owned and lost—and at lower mortgage rates to boot.

Whether buying a home as a residence or as an investment, it’s more than obvious that the time to start making these decisions is NOW. Waiting it out is no longer an option for those looking to profit from today’s rising home prices, low rental vacancy rates and practically rock bottom mortgage interest rates.

MY PASSION IS BEING SUCCESSFUL FOR MY CLIENTS

As most of you are aware, my goal has always been to help educate my clients and potential clients so that they can have the best information available in order to make confident real estate decisions.

Home ownership is one of the most important decisions you can make, whether it is buying, selling to trade up or buying for investment purposes. My 40 plus years experience in the local real estate arena has made me very successful, but the core of that success is the information and assistance that I bring to each and every individual sale. My due diligence has helped my clients make informed financial decisions that ultimately help them make money. I do everything possible to make your home ownership goals a reality.

If you or someone you know are ready to find out how I can make this work for you, please give me a call at 598.3200 or email me at: Harry@HarrySalzman.com .

THOUGHT OF THE DAY

(provided by Tony Ensor, President and General Manager of the Colorado Springs AAA SkySox)

THE SPIRIT OF OPENING DAY

Today you’ll dig in the closet for your glove and snap a ball into it while sipping your morning coffee.

Today you’ll drive to work and admonish yourself to “keep your head down” and your eye on the road.

Today your team will be in first and planning to stay there. Today you’ll wonder about developing and selling tobacco-flavored toothpaste, as you spit into the sink.

Today you’ll still be able to turn the double play.

Today you’ll end your contract holdout.

Today you won’t lose a business deal in the sun.

Today you’ll find yourself rotating your arm around your head to stretch the shoulder and keep it loose.

Today sunflower seeds strangely find their way into your back pocket.

Today you’ll think of wearing a black suit to match the eye black.

Today you’ll have the steal sign.

Today you slip up in a meeting and mention “our sales team vs. lefties.” Today as the toast comes out of the toaster, you’ll still remember how to execute a perfect “pop-up” slide.

Today a hot dog and peanuts for lunch will sound about right.

Today you tell a co-worker to “get loose.”

Today the only strike you’ll know about is above the knees and below the armpits.

Today you’ll wear your jacket only on your pitching arm. Today you’ll buy two packs of gum and stuff them in the side of your mouth to look like a player.

Today, during lunch, you’ll wonder why Coke doesn’t come in a wood can.

Today you’ll scratch yourself and spit for no apparent reason.

Today you’ll wonder why stirrup socks never caught on as a fashion rage.

Today you’ll be the rookie looking to make it big.

Today you’ll be the wily vet with just a little something left.

Today you’ll look for the AM dial on your radio.

Today mom’s watching.

Today dad’s in the backyard with his glove.

Today will be hopeful.

Today it’ll still be a kids’ game.

Today you’ll be a kid.

Today is Opening Day.

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HARRY'S BI-WEEKLY UPDATE

Monday, March 25, 2013

by Harry Salzman

March 25, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

WISHING YOU A HAPPY PASSOVER AND A HAPPY EASTER

I wish you all a very happy holiday week and hope you will get to enjoy the festivities with your friends and family.

HOME VALUES UP FOR 16^TH STRAIGHT MONTH

Nothing but good news on the real estate front again. Homes values are continuing to move upwards and the list of improving housing markets gets longer. More than 75% of the 361 metro areas covered by the National Association of Home Builders/First American Improving Markets Index are now listed as improving. Especially important to us is the fact that Colorado Springs was added to that list this month. We’ve been telling you that, but nice to see it as “official”.

Even Fannie Mae’s Economic & Strategic Research Group, known for their conservative approach, is saying that the housing market is “on a sustained growth path”.

First time homebuyers are continuing to be more optimistic about the possibility of home ownership and their enthusiasm is crucial to the housing market and the overall economy, according to Kevin Watters, CEO of mortgage banking at JPMorgan Chase.

With homes selling faster as buyer demand increases, there is a low supply of homes left for sale. In fact, national housing inventory is now at its lowest level since January 1994. Homes sales have exceeded listings for the past 25 months and the upward trend in prices continues. I’ve been witnessing this myself locally--seeing greatly shortened times of listed homes on the market. That’s creating an urgency I’ve not seen in a number of years. When you add that to the fact that any discount available on foreclosures is fading along with inventories, it’s definitely becoming more of a seller’s market again.

USAToday says that “Homes are selling Lickety-split”— faster last month than in any February since 2007, “as eager buyers met a tight supply of homes for sale”.

On March 18, RISMedia.com reported that Realtor.com “recently released its February data on the U.S. housing market, offering valuable insight into the latest real estate trends.” Their “February 2013 national housing data indicates that listing inventories increased 1.15 percent month-over-month; median age of inventory was at 98 days, a 9.26 percent decrease month-over-month; and median list prices were slightly higher month-over-month at $189,000. These numbers show that homebuyers are getting an early start on the spring season despite the fact that inventories hit record lows.”

“As we enter the busiest time of the year for homebuyers and sellers, our latest housing trend data shows just how competitive the market is with a significant national housing recovery well underway,” said Steve Berkowitz, chief executive office of Move, Inc. “Looking ahead, we can expect the amount of inventory to increase this spring along with higher list prices as sellers become more comfortable with the market conditions.”

Nationally, U.S. homebuilders started more homes in February and permits for future construction rose at the fastest pace in 4½ years. The Gazette reported that in Colorado Springs, “single-family homebuilding permits totaled 220 in February, exactly double the total from February 2012 and the highest total for any February since 2006, according to a report from the Pikes Peak Regional Building Department. The number of permits issued in the first two months of this year is up slightly more than double from the same period last year to 398.”

The Wall Street Journal reported that existing home sales are at a 3 year high, indicating that more people are listing their properties ahead of the crucial spring selling season.

This is good news for those of you who have been waiting for home values to go up before listing your home in order to trade up or relocate. REALTORmag, and The Wall Street Journal both report that “rising home prices have helped more home owners make their way above water again, with 1.7 million properties regaining equity in 2012, according to the latest figures from CoreLogic. The number of mortgaged homeowners with equity now stands at 38.1 million and more homeowners are expected to join them soon.”

The long wait is over and the time is ripe, so if you are looking to sell and trade up, invest or buy a new home, please give me a call at 598.3200 or email me at Harry@HarrySalzman.com so I can help you figure out the best plan for you individual wants and needs

INTERNET BUYING VS. real estate BROKERS??

A recent issue of Bloomberg Businessweek carried a story titled “Why Can’t the Internet Replace real estate Brokers?” and I’d like to share a little of it with you. Below, I have reproduced a graphic which helps explain what buyers want from Real Estate Brokers. The article and graph clearly indicate that while more and more buyers are using the Internet to find the home they want, when it comes to the actual purchase, most rely on actual Real Estate Brokers to complete the process for them.

With more than 40 years experience in the real estate business, I could certainly relate to all the reasons why the Internet cannot replace a live person when it comes to the actual “negotiations” and local judgments required to make certain that a buyer has crossed all the “t’s” and dotted all the “i’s” so to speak.

The article was talking about how travel agents have basically been replaced by the Internet because most people feel confident that they can make travel arrangements themselves, but that when it comes to real estate investing, these same people are “nervous about venturing out on their own or trusting an online discounter for the most complicated transaction of their lives.”

The chart shows you how a buyer might use Zillow, Refin, Trulia, and Quicken to help in their initial search, but that when it comes down to negotiations, most turn to a qualified real estate Broker.

* Reproduced from Bloomberg Businessweek, March 11-17, 2013

COLORADO SPRINGS JOBLESS RATE FALLS AGAIN

With January’s 8.7 percentage rate the lowest since March 2009, the Colorado Springs job market continues to deliver good news for both the local economy and residential home market. According the a report in The Gazette, “the improvement came as more than 3600 area residents returned to the job market, the biggest monthly increase in the labor force in more than 12 years. The number holding jobs surged by nearly 4300, cutting the number of residents looking for work by nearly 700.”

Colorado Springs Mayor Steve Bach, in acknowledging this progress said, “..while it is encouraging to have growth, we still have a lot of work to do.” Bach set a goal last year of adding 6,000 new jobs a year to help lower the area’s 9 percent unemployment rate. “The city is doing its best to create a better business climate by being as business-friendly as possible,” he said.

JOKE OF THE WEEK

What do you call Rollerbladers who chat on the computer?

Online skaters.

Why was the computer so tired when it got home from the office?

Because it had a hard drive.

How can you tell when an adult’s been using the computer?

There’s correction fluid all over the screen.

How can you tell a good computer programmer from a bad computer programmer?

The good one always comes through when the chips are down.

How do you keep a fool busy all day?

Put him in a round room and tell him to sit in the corner.

Why did the mother always put on a helmet before she used the computer?

Because she was afraid it would crash.

What do pigs put in their hard drives?

Sloppy disks.

FEATURED LISTING

81 Crystal Park RD C

Price: $169,000

Beds: 2

Baths: 3

Sq Ft: 1556

SEE PIKES PEAK TO GARDEN OF THE GODS TO EAST FROM THE UNIT. QUIET. GREAT LOCATION. WALKOUT TO 18'X10' PATIO AND 10'X18' DECK OFF DR. VAULTED CEILINGS IN ENTRYWAY LR, UL BR#2 CAN BE AN OFFICE. SKILIGHTS, ML & UL FLOORS ARE VERY NICE WOOD WITH TILE IN...

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

Visit http://www.SalzmanRealEstateServices.com

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HARRY'S BI-WEEKLY UPDATE

Monday, March 11, 2013

by Harry Salzman

March 11, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

HAPPY SAINT PATRICK’S DAY WEEK…here’s wishing you “LUCK”

In today’s real estate market, which is moving faster and faster by the day, you need more than just “luck” to make your dreams come true. Fortunately for you, when it comes to considering residential homes you’ve got just that because you’ve got me. As your Realtor, with more then 40 years local experience in helping you navigate quickly and in a financially sound manner, I can assist you with all your Real Estate needs.

A FABULOUS FEBRUARY FOR real estate SALES

Wow. Despite the weather, another great month for the Colorado Springs housing market. There are positive numbers all across the board. Local Residential real estate prices have now increased for 12 straight months on a year-over-year basis, indicating a greatly increased consumer confidence in home buying.

To illustrate that, here are some highlights of the February 2013 Pikes Peak Association of Realtors (PPAR) Report for Single Family/Patio Homes (Year-over-year comparing February 2012 to February 2013)

Number of Sales—664. Up 29.2%
Average Sales Price---$227,357. Up 4.6%
Median Sales Price---$199,000. Up 12.6%
Inventory of Active Listings--3035. Down 5.9%

It’s definitely worth noting that the average selling price of a listing received 98.0% of the listing price. Also, the average number of days a house is on the market is shortening and foreclosure rates are also on the decline.

What does that mean to you? Once again, these numbers demonstrate that now is the time to buy. If you choose to wait, your housing cost will probably be higher. Or you could end up in a position where the home you want has already received multiple offers, which could hurt your chances of success in the purchase. This also means that if you are looking to sell and trade up you are looking at better returns overall as your home is probably worth more today than a year ago. So it is a great time to upgrade and take advantage of today’s low mortgage rates.

To look at the 7-page PPAR Report and see how your area is performing, please click here. I am available to answer any questions you may have or to help in any way I can in connection with your real estate needs. Just give me a call at 598.3200 or email me at: Harry@HarrySalzman.com.

USAToday PROCLAIMS COLORADO AS NUMBER 2 IN “QUALITY OF LIFE SURVEY”

Those of us who live here already know this, but now it’s official. In the 2012 annual Gallup-Healthways Well-Being Index, Colorado ranked only behind Hawaii. This survey is based on residents’ responses about physical health, happiness, job satisfaction and other factors that affect quality of life.

Colorado has consistently ranked in the top 10 every year from 2008 to 2012. According to the report, residents of these states tend to have lower rates of obesity and fewer medical problems such as type 2 diabetes, heart disease or chronic pain. They also report enjoying their jobs more, have lower rates of smoking and exercise more than residents in the lower ranked states.

Since relocation is one of my specialties, this is a plus for folks who are planning a move to Colorado Springs. If you, a family member or co-worker is considering a move here, please have them contact me and I will be happy to show them why this is the greatest “Quality of Life State” in the continental U.S. to live.

AND NOW FOR THE NATIONWIDE REPORT FROM THE LAST FEW DAYS

We have seen stories from various sources indicating how good the Residential real estate Market is nationwide and while we are ahead of most national statistics locally, it’s always a good sign when the Real Estate Market picks up nationally.

According to rismedia.com, “February’s U.S. home prices signal a solid start to Spring buying.” While February’s yearly growth of 6.1 percent is encouraging, Dr. Alex Villacorta, director of research and analytics at Clear Capitol reminds us that “this rate is measured against the market’s bottom, which we reported in our March 2012 Market Report.”

RealtorMag and Housingwire both cited another showing of home prices surging: “CoreLogic’s home price index shows that prices nationwide in January rose 9.7 percent year-over-year, posting their largest percentage increase since April 2006. Capital Economics researchers say “This is set to be another tear-away year for housing recovery” since “house prices rose strongly at the start of 2013 and are likely to perform well across the year as a whole.”

inmanNEWS reports that Americans “continued to view housing as a relative bright spot in the economy, even as their sentiment towards the broader economy and household finances limped along,” according to Fannie Mae’s February 2013 National Housing Survey.

The survey also found that “Americans who believe home prices will increase over the next year and home price expectations for 2013 both hit their highest levels since the survey’s inception in June 2010. The 48 percent of respondents who believe home prices will go up in the next 12 months was also a survey high. The share of respondents who said that if they were moving, they would buy rather than rent, increased by 2 percentage points to 67 percent. Nearly half of those surveyed—45 percent—think mortgage rates will go up.”

Businessinsider.com reports that “declining inventory has created room for new home construction. With inventory “down 22 percent from the end of 2011, the reduction has underpinned home prices and created a need for construction yet again.”

They also reported on March 8, 2013 that “a positive feedback loop has begun. Capitol Economics’ Paul Diggle also upwardly revised his home price forecast to 8 percent for the year, up from his previous call for a 5 percent rise.

‘Prices of both new and existing homes are picking up, the latter by over 10% year-on-year. Indeed, after a couple of years during which new home prices outperformed, primarily owing to builders constructing more homes for the higher-end market, we now expect existing house prices to close the gap.

As more consumers are able to access mortgage credit, homebuilders should widen their offering, while continued investment demand will bid up existing home prices.’

And Ivy Zelman was on CNBC yesterday (3.7.13) saying, ‘we’re in a nirvana for housing. I’m the most bullish I’ve ever been’.”

USAToday weighed in with several important facts:

“Americans have finally regained the $16 trillion in wealth they lost to the Great Recession, thanks to surging stock prices and rising home values.

“Rebounds in housing and consumer wealth benefit job recovery”. The job market is still struggling; however, “the turnaround has helped boost construction payrolls and is rippling to related sectors.”

In Bloomberg Businessweek we read:

“Despite the hit many Americans took, there’s little sign they’ve changed their dependence on homes as the mainstay of their wealth.”

“..people will put their money back into housing. The trends look like they’re on autopilot.”

“A home is what economists call a consumption good; you have to live somewhere. It’s also a store of wealth. Unlike other assets, you can’t buy a portion of a house.”

Also from Bloomberg Businessweek in answer to ‘Why Is Housing Off the Floor?”

Mortgage rates are at record lows…
…and so are inventories
The economy recovers, and panic subsides…
…which gooses home values.

The National Association of Realtors Economic Outlook/Blog shares the “Profile of Home Buyers and Sellers: Reasons to Buy”, according to a National Economics Research expert.

Desire to own a home of their own is the primary reason for motivating buyers.
Repeat buyers are more likely motivated to make a purchase based on changing circumstances: both the desire for a larger home and the need to relocate for a job or move.
Other reasons to buy included the desire to be closer to family and friends as well as a change in family situations.
Among age groups, there was a clear tendency for younger buyers to be more inclined to buy because of the desire to own a home, while older buyers (those 65 and older) cited the desire to be closer to family and friends.

Again, what all this means is exactly what I’ve been telling you for the past year. Now is the time to sell and trade up or invest. Call me with any questions, or simply to find out what’s going to make the most sense to you personally in this fast changing market.

JOKE OF THE WEEK

Quotes From Our Late Buddy Phyllis Diller

Housework can’t kill you, but why take a chance?

Cleaning your house while your kids are still growing up is like shoveling the walk before it stops snowing.

Best way to get rid of kitchen odors? Eat out.

We spend the first twelve months of our children’s lives teaching them to walk and talk and the next twelve telling them to sit down and shut up.

Whatever you may look like, marry a man your own age—as your beauty fades, so will his eyesight.

I’ve been asked to say a couple of words about my husband, Fang. How about short and cheap?

My photographs don’t do me justice—they just look like me.

Tranquilizers work only if you follow the advice on the bottle—keep away from children.

You know you’re old if they have discontinued your blood type.

It’s a good thing that beauty is only skin deep or I’d be rotten to the core.

There’s a new medical crisis. Doctors are reporting that many men are having allergic reactions to latex condoms. They say they cause severe swelling. So what’s the problem?

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HARRY'S BI-WEEKLY UPDATE

Monday, February 25, 2013

by Harry Salzman

February 25, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

4th QUARTER METRO AREA HOME PRICES--STRONGEST PERFORMANCE IN 7 YEARS

National Association of Realtors

The just published “Median Sales Price of Existing Single-Family Homes for Metropolitan Areas” from the National Association of Realtors (NAR) has great news again. As always, we track comparison of the Colorado Springs metropolitan area against the other 152 metro areas in the survey. This most important highlights are:

Median home prices across the USA are 10% higher than a year ago

Colorado Springs Metro Area is up 11.5% from a year ago, which translates to 15% better than the median sales prices across the USA

The median existing single-family home price rose in 133 out of 152 metropolitan statistical areas and Colorado Springs is one of those that showed significant performance.

Lawrence Yun, NAR chief economist, said all the conditions for strong price growth are at play. “Home sales are on a sustained uptrend, mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in 12 years,” he said. “Home sales are being fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising at faster rates. Our population has been growing faster than overall housing stock, so supply and demand dynamics are very much at play.” He added that more housing construction is needed to relieve some pressure to keep home prices from overheating.

NAR’s national annual Housing Affordability Index, with breakouts for metropolitan areas rose to a record high 193.5 in 2012 from 186.4 in 2011. The index is calculated on the relationship between median home price, median family income and average effective mortgage interest rate. The higher the index, the stronger the household purchasing power.

An article in The Gazette this past Friday reiterated these same statistics, saying that U.S. home sales in January rose to the 2^nd highest level in 3 years. And REALTORMag reported that 88% of U.S. Cities have seen prices for single-family homes rise in the 4^th quarter of 2012.

I’ve been telling you for more than a year to expect this and now it’s all happening even faster than I might have predicted. As positive as this report is, there are now some problems arising. Compared to the last few years, there are fewer homes on the market, days on the market are vastly shortened and rents are rising. If you are considering buying a home, trading up or purchasing for investment purposes, NOW is the time. It is going to take a bit longer to find what you are looking for in this market but fortunately you have me, with my 40 plus years of experience. I have always enjoyed doing your homework for you and that gives you an advantage over the Buyers and Sellers who work with most other Realtors.

To see the report in it’s entirety and to compare Colorado Springs to the other 152 metropolitan cities, please click here. As always, I am here to answer any questions you many have from this survey or any real estate questions in general. Just call me at 598.3200 or email me at Harry@HarrySalzman.com and I will be happy to help in any way I can.

FOREIGN BUYERS ARE JUMPING INTO THE U.S. SINGLE-FAMILY RENTAL MARKET

Several publications have reported that foreign firms are starting to snatch up single-family homes at a rate not previously seen. Some of these are groups of private investors, others are large companies, but all have the same idea—either buy a number of foreclosures at a discount from the present mortgage holders or simply purchase directly from local Realtors and convert these properties to rentals in exchange for hoped for large gains when the U.S. housing market fully recovers.

The Wall Street Journal reports that “the business of buying and renting houses, long dominated by local mom-and-pop investors, has morphed over the past two years into one of the hottest investments on Wall Street. Investors from countries whose currencies are strong can outbid U.S. investors because they also are hoping to make money from foreign-exchange rate fluctuations.”

What does this mean to you? Clients who I’ve talked with lately have considered either buying more investments properties or buying their first one. Well, the time is ripe and with rental prices on the rise, I’ve got two things to tell you. One--more renters are starting to look at home buying options. Two--those renters that can’t qualify will be looking for a long term lease on a home.

I am available to help in either scenario. If you know someone who is currently leasing and tired of rising rents, have them call me and let’s see if we can help them get into a home of their own. And for those of you looking for investment property, don’t wait too long. Your choices are narrowing each month. Haven’t you earned the right to receive a good rate of return as an investor/landlord? If it’s a consideration, just call me at 598.3200 and I’ll help you determine the right financial option for you.

2013 WILL BE THE YEAR MANY BUY THEIR FIRST HOME

The Gazette/Wall Street Journal/Sunday, 2.24.13

Yesterday there was an interesting article reprinted in The Gazette from the Wall Street Journal that provided good suggestions to those who are considering buying their first home. I was happy to see it in our local paper and find it especially appropriate advice for anyone looking to buy in today’s competitive, fast paced buying market. Here are the highlights:

Stay Calm. Don’t spend more than you can really afford and don’t get caught up in a bidding war. Don’t wait until the last minute to look for a home you need NOW.

Make Your Best Offer. Be realistic and bold, if necessary. There is a danger of over-paying a little but if it’s the RIGHT house for you, you might go for it. Don’t spend more than you can afford, though.

Check Credit. You should know your credit report and credit score prior to meeting with a lender. That way, any discrepancies can be cleared up and with a higher score you are in a better position to negotiate for your mortgage. Credit reports can be checked at AnnualCreditReport.com where you are entitled to one free report annually from each of three credit-reporting companies at this site.

Account For Assets. Obtaining a lender’s pre-approval is always a good idea and if you intend you use “gift or transfer funds” you need to be able to document that you are not simply borrowing that money or it will not be counted towards a down payment.

Bring A Big Down Payment. If possible, bringing more than 20% for the down payment will help keep your offer competitive.

Be Nice. This might include showing some flexibility on the closing date. If all else is equal, the seller might be more concerned with a little flexibility on the part of the buyer rather than a little extra money.

Find A Good Agent. That’s where I come in. With more than 40 years experience in the local real estate arena, you know I’ve got your back and will make certain that you don’t make any costly mistakes. This goes for first time buyers as well as those I’ve sold many homes to and for over the years. I will always put your needs first and make certain that I can help you make a financial decision that is within your means, can satisfy your wants and provide a good, safe investment for you and your family. I’m simply a phone call away at 598.3200 anytime you, your family members or friends are looking for a qualified real estate agent who will work for YOU.

NOW A WORD TO SELLERS….THERE’S GOOD NEWS FOR YOU, TOO

With so much happening in the real estate market at once, I know some of you who have been waiting for your home values to rise are wondering if maybe now’s the time to think about listing your home.

In the Colorado Springs market, sellers have more of an edge than they have had in many years. The biggest reason is that the number of existing homes on the market has dropped dramatically and continues to do so. Also, homes are selling much faster.

I would be happy help you by doing a Fair Market Value Analysis of your home to determine it’s present value and whether or not it’s the right time for you to list it. Just call me at 598.3200 and we can get the process started.

SOMETHING TO THINK ABOUT….SOONER THAN LATER WOULD BE BETTER

No one likes to think about dying, but as it’s a fact of life, there is no better time than the present to think about your end-of-life-planning. There are many things to be considered and your accountant and lawyer are among those who would be your best advisors in that area. I’ve witnessed many problems that can occur when considerations about titles, home ownership and other such things haven’t been thought out in advance.

In today’s tech savvy world, we’ve got things to consider like passwords, and on-line account information that needs to be protected as well as documented in case of death.

There are usually unexpected financial hassles after a death, and it’s always a blessing when someone has taken the time to deal with as many of the foreseeable issues as possible. I am not in a position to advise you as to the best way for you to handle your individual estate planning, but I always advocate that it’s better to be safe than sorry.

JOKE OF THE WEEK

Why did the chicken cross the road?

To get the New York Times.

Get it?

No.

Neither do I. I get USAToday.

Why didn’t the hen cross the road?

Because she was too chicken.

Why did the baby cross the road?

She was stapled to the chicken.

Why did Colonel Sanders cross the road?

He heard there was a chicken on the other side.

Why did Colonel Sanders cross the road again?

He was being chased by a million finger-lickin’chickens.

What do you get when you cross a chicken with chewing gum?

Chicklets.

What do you get when you cross a hen with a banjo?

A chicken that plays a tune when you pluck it.

Why was the chicken so bad at baseball?

The kept throwing fowl balls.

Why didn’t the turkey finish his dinner?

He was already stuffed.

Why did the chicken cross the road in Texas?

To show the armadillo how it’s done.

Why did the Roman chicken cross the road?

She was afraid someone would Caesar.

Why did the muddy chicken cross the road and then back?

He was a dirty double-crosser.

What do you call it when a chicken stumbles as it crosses the street?

A road trip.

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HARRY'S BI-WEEKLY UPDATE

Monday, February 11, 2013

by Harry Salzman

February 11, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs

Residential real estate Market

Image removed by sender.

HAPPY VALENTINE’S WEEK…

…and if you’re looking for a different kind of Valentine’s present….have you ever considered buying a new home for your family? It’s the kind of gift that just keeps on giving!

Image removed by sender.

Need I say more? If you or anyone you know are looking for that unique Valentine’s present…just give me a call at 598.3200 and let’s see how we can make that dream a reality.

A WONDERFUL JANUARY FOR real estate SALES

Quite often the weather in Colorado Springs this time of year is not always conducive to productivity in real estate sales. However, this year is proving to be just the opposite. Whether it’s the milder temperatures or just simply the booming Real Estate climate, we haven’t seen this amount of sales activity in January since 2007.

It’s been a number of years since I’ve had multiple offers on a one-day-old listing which ended up selling for over the listing price but that’s just one of the deals I handled last month. I’ve been telling you for quite some time that this is where the real estate market is headed and it appears that we have crossed the threshold into happier times.

To illustrate that, here are some highlights of the January 2013 PPAR Report for Single Family/Patio Homes (Year-over-year comparing January 2012 to January 2013)

Number of Sales—660. Up 39.2%
Average Sales Price---$227,575. Up 11.1%
Median Sales Price---$205,000. Up 19.0%
Inventory of Active Listings--2930. Down 7.2%

Once again, these numbers demonstrate that now is the time to buy. If you choose to wait, your housing cost will probably be higher and your choices not as good as what’s available today.

To look at the PPAR Report in its entirety and see how your area is performing, please click here. As always, I am available to answer any questions you may have or to help in any way you might need concerning your real estate needs. Just give me a call at 598.3200 or email me at: Harry@HarrySalzman.com.

Home Builders had a great January too. Pikes Peak Regional Building Department’s Report for January shows 178 permits compared to 85 permits in January 2012.

A strong rate of return to homeowners is one of the best indicators of a strong community such as Colorado Springs. All signs point to a very positive and strong local housing sector and I’m proud to have been a “local” real estate Broker here for more than 40 years.

I’m always happy to discuss our local market conditions and help not only those who reside here, but also those who are considering a move to our community. If you know of anyone who is considering a move here, please give them my phone number or email and you know I will provide them with the same excellent level of service that I pride myself on giving to you all.

Some of you have been waiting to experience today’s increase in Fair Market Value and I am happy to meet with you to provide a Competitive Market Analysis of your current home. You might be surprised at the probable sales price, along with the potential of additional proceeds this might entail.

Yes, the climate has already changed and we are no longer realizing a “Buyer’s Market” per se. The pendulum seems to be right in the middle at the moment between Buyer and Seller. What that means to you is that with a Market Value in the $200,000-250,000 range, the Seller is beginning to edge out the Buyer. So, I’ll say it again. Now is NOT the time to wait if you are thinking of selling, buying or investing. Just give me a call so we can begin today. As you can see, the tide is turning and you don’t want to be left out.

JUST OFF THE PRESS…

THE SOUTHERN COLORADO ECONOMIC FORUM’S QUARTERLY UPDATES & ESTIMATES

Being a supporter of UCCS Southern Colorado Economic Forum, I received this quarterly update just two days ago and wanted to share it with our Readers even before general publication. The full report is 17 pages long and you can click here to read it in full. Here are some of the highlights I thought you would find interesting:

The best performing indicators included here are the new single-family permits (up 26.1%) and consumer sentiment (up 29.8%). In addition, sales tax collections in Colorado Springs were up 8.9% over a year ago.

Analysis of the El Paso County Residential housing market (6 pages) shows that new residential permits were 819 higher in 2012 than in 2011 (up 58.5%). 2013 is starting off strong and support for residential construction is attributed to pent up demand, attractive pricing and record low mortgage rates.

While still early in the year, combined single-family permit activity is off to a strong start for 2012. The Forum expects there will be approximately 420 more detached single-family and townhome permits issued in 2013 than in 2012.

At its Sixteenth Annual Forum in September 2012, the Forum forecasted growth in single- family home permits would be 6.5% in 2013.

In MLS Activity, low inventory levels (listings) may constrain sales growth in 2013. The decrease in supply of homes for sale coupled with an increase in sales of homes suggests equilibrium is returning to the local housing market. As expected, this was accompanied by an increase in the price of homes sold.

The ratio of homes sold to total single family homes in El Paso county has proven to be a good indicator of strength/weakness in housing.

Market forces appear to have driven supply/demand to equilibrium as of June 2012. The movement toward supply/demand balance was noted in the last several issues of the QUE. Continued improvement in housing prices will depend on low mortgage rates and income and job growth.

The next several sections of the report include:

Colorado Springs Airport Trends
Colorado Springs Sales Taxes
New Car Registration Trends
Employment Trends and Wages
National Expectations
Misery Index (cute!)

It is with pleasure that Salzman real estate Services is able to share these statistics and forecasts with you as soon as they become available, each and every month or quarter, as applicable. I would be happy to answer any questions you might have concerning the detailed reports and how they might affect you personally or just any question you might have concerning Real Estate in general. Just call me at 598.3200. Questions of a more personal nature might be better addressed to “Dear Abby”. (cute?)

DOING THE HOMEWORK FOR YOU…JUST PART OF OUR JOB

In the past two weeks alone, I’ve attended three local presentations that have included Annual Forecasts based upon last year’s performance.

We at Salzman real estate Services have always attended similar meetings in order to provide you with the most current Residential Real Estate Market conditions and forecasts. Looking at the past is a very accurate way to predict the future and our business is no different than any other in that regard. There are ups and downs and we want to help our clients take advantage of whichever market will serve them best. That’s an important part of our job and one we take particular pride in doing well.

So you can rest assured that no matter which way the market swings, I will find a way to make it work to your advantage whenever possible. Just remember….I provide you with this information so you can make informed decisions and what I’m telling at the moment is….NOW is the time to act if you have any thoughts of buying, selling or investing. It’s a lot easier to help you when the market is starting to trend upwards than when it is on the way down! Just some Salzman Sense for you. Call me at 598.3200 and let’s get started.

JOKE OF THE WEEK

A man walks into a diner carrying a dog under his arm. He puts the dog on the counter and announces that the dog can talk. The man says he has $100 he's willing to bet anyone who says he can't. The head cook quickly takes the bet, and the dog's owner looks at the dog and asks, "What's the thing on top of this building that keeps the rain out?"

The dog answers, "Roof". The cook says, "Who are you kidding? I'm not paying."

The dog's owner says, "Double or nothing, and I'll ask him something else." The cook agrees and the owner turns to his dog and asks, "Who was the greatest baseball player ever?"

The dog answers "Ruth."

With that the cook picks them both up and tosses them out on the street. As they bounce on the sidewalk in front of the diner, the dog looks at his owner and says, "DiMaggio?"

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HARRY'S BI-WEEKLY UPDATE

Tuesday, February 5, 2013

by Harry Salzman

January 14, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

A NEW YEAR…SOME PREDICTIONS…AND SOME CHANGES

I’d like to share some of my predictions for this new year…something I’ve liked to do over my forty, yes, FORTY, years in the Pikes Peak real estate arena. My forecast, after researching various industry publications is this:

Current low mortgage interest rates will continue to attract homebuyers
Credit worthiness as defined by lenders will be on the conservative side for borrowers
December’s Median and Average Home prices are unbelievable—up an average of 14% in one month—this is an exciting trend that is likely to continue

So, in essence….if you are thinking of buying a home, either for yourself or for investment purposes, you might want to push up your timetable a bit…especially when you read further on about the changes in lending rules that will soon be in effect.

As for changes, here’s a surprise for you, my readers. After publishing this eNewsletter on a weekly basis for many years, I’ve decided to give you a break in reading and I will now publish and email it to you on a bi-weekly basis. There are several reasons for this, but mostly, with the market on the upswing, I find myself very busy helping and advising you, my clients, and feel that my time is best spent doing more of that. Some issues might be longer than others because of this change and I will continue to provide you with whatever real estate news that I feel might have an impact on your home ownership decisions. As always, I am available every day to provide you with my personal brand of customer service and can be reached at 598.3200 or 800.677.MOVE or emailed to Harry@Harry Salzman.com.

On that note, I wish to take a minute to thank you for all the listings, sales and additional success I’ve achieved in 2012. I have reached my goals through your continued support and referrals and I thank you again for allowing me to assist you in achieving your own personal home ownership goals---buying, selling or investing. As I like to say around here—it’s given me a real Rocky Mountain High to be your personal Realtor and I look forward to much more of the same in 2013 and beyond.

HOME LENDERS TO SEE SWEEPING CHANGES TO MORTGAGE RULES

RealtorMag 1.11.13

As mentioned earlier, within the next year, homebuyers are going to see numerous changes when it comes to home financing. Last Thursday, the Consumer Financial Protection Bureau unveiled new mortgage rules and all companies that issue mortgages will be required to follow the new guidelines in order to receive protection from lawsuits filed by buyers of mortgage-backed bonds or troubled borrowers. Interest-only mortgages and loans on which the principal balance rises over time, as well as a few others, will be excluded from these rules. Loans that meet the agency’s new lending criteria will now be called a “qualified mortgage” and will consist of the following:

Lenders must prove that income and assets are sufficient to repay the loan (this applies to jumbo loans as well)
Borrowers must be able to document their jobs
Credit scores will have to meet a minimum standard
Borrowers will have to be able to show that they can still afford other debts associated with the home, such as home equity loans as well as property taxes
Lenders will consider borrower’s other debts before issuing a mortgage too, such as student loans, car loans, and credit card debt
Monthly payments must be affordable to the borrower

All of the rules have not been spelled out in full yet, but by the time this takes effect in a year one thing is for certain—it’s going to be much harder to get financing—especially for first time borrowers or those with borderline criteria. And you can certainly expect closing costs to rise along with all of this. Whatever it costs the lenders to implement these rules will surely be passed on to borrowers, as always.

Bottom Line---again—if you are looking to buy, sell or invest—this is the year to do it. And as always—I’m here to advise and help in any way I can. Just give me a call at 598.3200 and let’s discuss your options before they go away.

PRICES CONTINUE TO RISE WITH HOUSING RECOVERY

Most every article I’ve recently read has been very optimistic about the housing “recovery” and it’s effect on the economy in general, including the job market. Housing prices continue to rise and that’s great news for those who might have been affected by the downturn in the market, but it’s not so great for those who have put off buying in hopes that prices might go lower still.

I’ve been telling you for some time to expect this and now the time has come. With rising prices, low inventories, new regulations on our doorstep and at the moment still low interest rates….it’s now or never for some folks. If you are one of those…there’s still time…but the clock is ticking and you don’t have long. Or you do, but it will cost you more in sales price and possibly mortgage rates to do so. Call me today and find out how we can make your home ownership goals a reality.

PERSONAL HOUSING NEEDS CHANGE OVER TIME

If you are like many of my clients, your home ownership needs change over the years. With your first home purchase you are likely to need less in a home that you do when you start a family and later in life you may again want to downsize when you have an “empty nest”. There are many reasons why folks sell their present home and look for another. It could be that a two story home is no longer practical for health reasons or you just want to downsize because you are spending more time traveling and less time at home.

Or, you might want to move into a larger home because you are now caring for a parent or other family member or your kids need more room. Whatever the reason, moving into a different home often is something you need to consider and along with it, the costs and considerations involved. I’ve moved many of you into multiple homes over the years and if you are in need of another change, for whatever the reason, I’m here to help in any way I can.

NO JOKE OF THE WEEK THIS WEEK…IN MEMORY OF JIM KRACK WHO STARTED THE “JOKE OF THE WEEK”

It is with a very sad and heavy heart that I write about the passing of Jim Krack this past week. Jim was the editor of our eNewsletter practically from its inception until his untimely illness in June of this year and it was he who started publishing the “Joke of the Week” that our readers like so much. But more than just an editor, Jim was my special friend.

We first met in the 1970’s when we both worked out at Lynmar Tennis and Racquetball Club on Vickers Drive. We were there 4-5 days a week and our friendship began in the locker room where we talked as we got ready to go to about our day. In those days, he and his wife, Donna, owned the Sunrise Kennel, which they later sold but never gave up their love of animals.

In fact, their love of animals was the reason I sold their 5-acre home in Black Forest—it wasn’t large enough for all their pets. They implemented my suggestions to sell that house and recent life has been on 40 plus acres for Jim, Donna and lots and lots of animals.

Jim worked as Executive Director for a non-profit pet organization for over 20 years and communication with potential kennel owners was his specialty. There wasn’t anyone who met Jim that didn’t like him.

I was thrilled when Jim decided to become the editor of my eNewsletter. Our weekly meetings to discuss current real estate, as well as “personal”, news, was something I looked forward to and Jim always found a way to make me laugh.

I miss these meetings and I miss Jim. Mondays just aren’t the same without him.

FEATURED LISTING

4346 Sammers VW 28

Price: $199,900

Beds: 3

Baths: 3

Sq Ft: 1982

GATED COMMUNITY TOWNHOME, IMMACULATE POPULAR RANCHER W/FINISHED BASEMENT WALK-OUT, MOUNTAIN VIEWS, VAULTED CEILINGS, FANS AND SKYLIGHT, UPGRADED KITCHEN WITH EXTENDED GRANITE COUTERTOPS, BREAKFAST BAR, ALMOST NEW STAINLESS STEEL APPLIANCES, VAULTED ...

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner

Serving: Colorado Springs, Monument. Air Force Academy, Fountain,
Security, Woodland Park, Black Forest, Manitou Springs

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Harry Salzman, Salzman real estate Services, Ltd
538 Garden of the Gods Road, Colorado Springs CO 80907
719-598-3200 or Toll Free: 800-677-MOVE(6683)

Visit http://www.SalzmanRealEstateServices.com

Change your email preferences here.

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HARRY'S WEEKLY UPDATE

Tuesday, February 5, 2013

by Harry Salzman

January 28, 2013

HARRY’S BI-WEEKLY UPDATE

A Current Look at the Colorado Springs Residential real estate Market

relocation IS ON THE UPSWING WITH THE MARKET UPTURN

I’ve been quite busy lately…not only with my local clients, but also helping a number of new folks relocate from their present locales to new places all over the globe. One is leaving France for Fort Lauderdale; another from Jacksonville, FL to Scottsdale while another is going from Chicago to Detroit. These folks represent just a small portion of those that I helped in their relocation process during the past week. And how do I do this you may wonder? Well, as a long time member of the Relocation Directors Council I have made contacts with Realtors all over the country….and the world…and because of that I am able to be assured that those who are relocating somewhere other than the Colorado Springs area will receive the same brand of personal service that I provide to my clients.

If you or anyone you know is considering a move anywhere….please give me a call and I will make certain that you are in capable hands wherever the move might be. I can be reached at 719.598.3200 or emailed at Harry@HarrySalzman.com.

As an aside, as I speak with Realtors all around the country I’ve found that while a lot of the USA is just starting their housing turnaround….we in the Colorado Springs area are way ahead. Part of that is because we never fell quite as low as many areas, but in any event, our recovery is proceeding well above the US norm I’m happy to report.

FOURTH QUARTER 2012 WAS VERY ACTIVE AND INDICATORS ARE ENCOURAGING

Data provided by the Pikes Peak Realtor Services Corp, from Pikes Peak MLS

Where you are a current home owner and curious about the current value of your home or someone who is thinking about buying….Hear Ye! Hear Ye!

Here are the just published local real estate statistics for homes in the Pikes Peak Area.

Things are continuing to look up in the local real estate market. In a nutshell:

New Listings +6.4%,

Sold Listings +10.4%,

Median Sales Price +11.1%.

Average Sales Price +8.9%

% of Sold to List Price +.5%

Days on Market -17.9%

Active Listings -6.1%

Months Supply -13.5%

For a complete overview of the entire 2012 year quarter to quarter, please click here.

You will be happy to see where you are today as compared to a year ago. I’ve been telling you all year that this was going to happen and here with real market worthiness. If you already own a home, this should bring a smile to your face. On the other hand, if you have been thinking about buying your first home or trading up to your next home, market conditions represented in this report will justify that now is the time to buy a home.

Along with all this general information, also included are statistics for each individual area of the Pikes Peak region. Now you can compare different areas in our community to any other, if you desire, or simply satisfy your curiosity as to how your specific area is doing.

HERE ARE SOME 4th QTR. YEAR OVER YEAR STATISTICS FOR THE PIKES PEAK AREA*

Median Sales Price Average Sales Price

Black Forest: +16.7% +19.1%

Briargate: +11.4% +7.1%

Central: +10.8% +3.6%

Divide: +61.4% +46.1%

East: +14.3% +19.7%

Falcon North: +9.1% +4.5%

Florissant: +14.0% -2.8%

Fountain Valley: +4.7% +7.4%

Manitou Springs: +38.9% +23.0%

Marksheffel: +2.4% -4.5%

Northeast: +4.3% +5.7%

Northgate: +5.9% +2.0%

Northwest: -1.8% -5.1%

Old Colo.City: +3.4% +7.3%

Powers: +12.3% +12.2%

Southeast: -0.9% -0.7%

Southwest: +6.4% +2.2%

Tri-Lakes: +8.8% +2.9%

West: +25.4% +5.4%

Woodland Pk: +6.5% +14.9%

*Statistics from the Pikes Peak MLS, provided by the Colorado Assoc. of REALTORS.

As you can see, things are starting to move rather quickly and the housing recovery in our area is already on its way. To see the complete breakdown on any area listed, click here. As always, I am here to answer any questions you may have about these reports or any real estate concerns you may have.

And, as I mentioned earlier, if you’re in the market for a new home, NOW is the time. With a very limited inventory and percent of days on the market quickly going down, I’m finding multiple buyers for homes I have listed in record times. To be certain you can get exactly what you are looking for at a price that fits your budget, call me today at 719.598.3200 and let’s start talking.

A NOTE TO STRUGGLING HOME OWNERS

As reported in last week’s Wall Street Journal, US Banks are going to have to do more to help struggling mortgage borrowers keep their homes under final rules released last week by the Consumer Financial Protection Bureau.

If you or anyone you know is having a problem with keeping your mortgage current, be sure to contact your service provider and find out what type of relief can be provided.

ALL SIGNS POINT TO HOME PRICE SURGES—HOME SALES ROSE TO 5 YEAR HIGH IN ‘12

There’s good news in most all real estate and general publications I’ve read lately concerning the housing recovery and home prices being on the rise. In fact, USA Today headlined that “Housing set to give economy a boost in ‘13” and went on to quote Moody’s Analytics chief economist, Mark Zandi as saying that he “expects housing to contribute a fifth of the economy’s growth this year, while in 2009 it subtracted more than 1 percentage point from the GDP growth”.

While several publications reported a dip in home sales in December, they were not referring to the Colorado Springs market in which homes sales increased 7.8% over the same month a year earlier. In fact, according to the report by Pikes Peak Association of Realtors, Colorado Springs area homes sales totaled 9,146 in 2012—the most since 2007.

WITH RISING PRICES, INVENTORIES FALLING

As I mentioned earlier, along with the good new of rising prices comes the reality of low inventories and fast turnaround times with multiple offers.

The lower inventories can be attributed to several factors including home owners being hesitant to sell if they are not in a position to make a profit or if they don’t have enough equity to trade up. Another factor is that investors are continuing to snatch up properties. In the past, they may have fixed up the home for resale, but now many are choosing to hold on to and rent them instead. And, while home building is up, it still has not rebounded as quickly as hoped.

This should come as no surprise to most of you as I’ve been telling you for some time to expect this and now the time has come. With rising prices, low inventories, new regulations on our doorstep and at the moment still low interest rates….it’s now or never for some folks. If you are one of those…there’s still time…but the clock is ticking and you don’t have long. Or you do, but it will cost you more in sales price and possibly mortgage rates to do so. Call me today at 719.598.3200 and find out how we can make your home ownership goals a reality.

AND FINALLY…..A HONOR FOR ME AND A THANK YOU TO YOU

Once again in 2012 I was honored to be selected to the Peak Producers Club as one of the Pikes Peak Top 10% of real estate Agents. This is something I owe to all of you, my friends and clients, whom it has been my pleasure to serve as your Real Estate Broker. The long time relationships I share with so many of you make it such a pleasure for me to work with you and obviously make is easier for me to know just what your individual needs and wants might be.

If any of you, or any of your relatives, co-workers or friends are looking to buy, sell, or invest in real estate, I’d be honored to help make these dreams a reality. Please call me at 719.598.3200 with any of your needs or refer me via phone or email at Harry@HarrySalzman.com.

JOKE OF THE WEEK

A Little Christian Humor (from a “nice Jewish guy”)

Jesus and Satan were having an on-going argument about who was better on the computer. They had been going at it for days, and frankly God was tired of hearing all the bickering. Finally fed up, God said, 'THAT'S IT! I have had enough. I am going to set up a test that will run for two hours, and from those results, I will judge who does the better job. So Satan and Jesus sat down at the keyboards and typed away.

They moused.

They faxed.

They e-mailed.

They e-mailed with attachments..

They downloaded.

They did spreadsheets.

They wrote reports.

They created labels and cards.

They created charts and graphs.

They did some genealogy reports.

They did every job known to man.

Jesus worked with heavenly efficiency and Satan was faster than hell.

Then, ten minutes before their time was up, lightning suddenly flashed across the sky, thunder rolled, rain poured, and, of course, the power went off.

Satan stared at his blank screen and screamed every curse word known in the underworld.

Jesus just sighed.

Finally, the electricity came back on, and each of them restarted their computers. Satan started searching frantically, screaming: 'It's gone! It's all GONE! 'I lost everything when the power went out!'

Meanwhile, Jesus quietly started printing out all of his files from the past two hours of work.

Satan observed this and became irate.

'Wait!' he screamed. That's not fair! He cheated! How come he has all his work and I don't have any? 'God just shrugged and said,

“JESUS SAVES “

FEATURED LISTING

2420 Calistoga DR

Price: $157,500

Beds: 3

Baths: 3

Sq Ft: 2321

Great wide open floor plan with vaulted ceilings on main level and master bedroom, master bath includes large soaking tub w/vaulted ceiling. Walk-in closet and ceiling fan in master bedroom. The laundry area is on the main level at entry from the ga...

Harry A. Salzman. CRS, CRP, CNE
e-Pro Internet Certified
Broker/Owner