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Good News/Bad News----Which is
it???
You just gotta laugh---last week the front page headline in USA Today quoted one of the top economists who
believes we may be at the bottom of the market on a national level. I thought, “Wow, what good news!”
The next day, the same paper headlined, “…Spring real estate market may be grim.” Well, which is
correct, the good news or the bad news??? After a good chuckle, I decided to write both the good and bad news for the Pikes Peak
Region.
Good News
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1. The FHA mortgage loan limit was raised in both
Teller and El Paso Counties from $247,000 to $325,000. This helps buyers who have as little as 3% cash for a down payment to buy a
home. Previously, anything priced over $255,000 would have required a 10% down payment. This added
27% more homes to the pool of inventory for a buyer with a small down payment. This government opportunity expires on December 31,
2008---so don’t wait too long take advantage of the deal!
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2. In each of the last 4 months more homes are selling
in the Pikes Peak Region than the month before!! Part of this is due to the time of year—but it is still good news!
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3. More than 1/3 of our buyers come from out of
state. If in fact the national market is approaching bottom, the situation should improve soon.
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4. Some parts of the country are down in prices as much
as 30%--but not us. Our median price rose about 10% since 2005. According to our local MLS stats, the median price has
slowly floated back to where it was in May 2005.
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5. I received a few calls from folks that were faced
with difficult situations relative to being upside down in their mortgages. It is never too embarrassing to get help and get on the
right track.
Bad News
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1. The foreclosure law changed in the State of Colorado
on January, 2008. There is no longer a 75 day redemption period after the sale. If you are getting letters from your lender
regarding back payments, please call me and I will explain some important changes in the law that need not take you off guard.
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2. There seems to be an increase in buyers looking but
remember, they may have a home to sell.
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3. Some buyers are making ridiculous offers on
homes. What is up with that? They need to read the good news above.
Call us for all the REAL NEWS at 719-687-1531 or
Sharon at 719-237-0391.
Email: Sharon@TheRoshekGroup.com.
Check for great
buys online at http://www.pikespeakregion.com/
Back to top
Teller County
Statistics
March 2008 |
Residential Solds in Divide, Florissant & Woodland Park
|
|
| |
|
|
Area |
Flr |
Br/Ba/Gar |
SqFt |
Price |
| 2807 Upper Twin Rocks RD |
DIV |
RAN |
3,2,0 |
1,484 |
$76,301 |
| 467 Maid Marian DR |
DIV |
1.5 |
2,1,0 |
1,127 |
$149,900 |
| 288 Berylium RD |
DIV |
1.5 |
3,2,2 |
1,437 |
$159,900 |
| 23 Elfin Glen DR |
DIV |
2 |
4,4,2 |
3,263 |
$162,000 |
| 166 Manchester DR |
DIV |
RRH |
3,2,0 |
1,600 |
$173,900 |
| 401 Banner TR |
DIV |
RAN |
3,2,2 |
1,773 |
$182,000 |
| 3106 Cedar Mountain RD |
DIV |
1.5 |
3,3,4 |
2,608 |
$266,900 |
| 145 Pawutsy RD |
DIV |
RRH |
3,3,3 |
3,281 |
$336,900 |
| 115 Valley RD |
DIV |
RRH |
3,3,3 |
2,344 |
$325,000 |
| 145 Big Horn LN |
FLO |
RAN |
2,1,0 |
1,064 |
$120,000 |
| 1058 Hackamore DR |
FLO |
RAN |
3,2,2 |
1,886 |
$191,500 |
| 318 Elk Creek DR |
FLO |
RAN |
4,2,2 |
1,884 |
$235,000 |
| 54 Carlton CR |
FLO |
RAN |
3,2,2 |
1,869 |
$250,000 |
| 401 Forest Edge CR B-6 |
WPK |
RAN |
2,2,1 |
1,012 |
$90,000 |
| 153 Loafers LN |
WPK |
1.5 |
3,2,1 |
1,400 |
$136,500 |
| 901 W Northwoods DR |
WPK |
TRL |
3,2,2 |
1,333 |
$148,000 |
| 820 E Northwoods DR |
WPK |
RAN |
3,2,1 |
1,044 |
$177,000 |
| 720 Misty Pines CR |
WPK |
2 |
2,3,2 |
2,400 |
$198,000 |
| 320 Henrietta AV |
WPK |
RAN |
3,2,1 |
1,222 |
$193,900 |
| 115 Brown PL |
WPK |
RAN |
3,2,2 |
2,898 |
$190,000 |
| 18 Holiday DR |
WPK |
TRL |
3,2,0 |
1,714 |
$232,000 |
| 1110 Forest Hill RD |
WPK |
4 |
4,4,2 |
3,357 |
$263,500 |
| 931 Kings Crown RD |
WPK |
BIL |
3,3,2 |
1,834 |
$280,000 |
| 2818 Sunnywood AV |
WPK |
2 |
4,3,2 |
2,367 |
$300,000 |
| 347 Black Bear TR |
WPK |
RRH |
4,3,2 |
2,133 |
$305,000 |
| 473 Ridge DR |
WPK |
BIL |
3,3,2 |
2,227 |
$325,000 |
| 1070 Kings Crown RD |
WPK |
3 |
3,4,2 |
2,412 |
$339,900 |
| 1308 Snowshoe CT |
WPK |
RAN |
3,3,3 |
4,248 |
$378,771 |
| 305 Sun Valley DR |
WPK |
RRH |
3,3,4 |
2,776 |
$360,000 |
| 507 Pembrook DR |
WPK |
RAN |
3,3,2 |
3,136 |
$410,000 |
Area Statistics
|
Woodland Park |
Divide |
Florissant |
All 3 |
All 3 March 07 |
| # Sold |
17 |
9 |
4 |
30 |
39 |
| Low |
$90,000 |
$76,031 |
$120,000 |
$76,031 |
$54,000 |
| High |
$410,000 |
$336,900 |
$250,000 |
$410,000 |
$825,000 |
| Average |
$254,563 |
$203,644 |
$199,125 |
$231,895 |
$226,174 |
| Median |
$263,500 |
$173,900 |
$191,500 |
$232,000 |
$253,000 |
| % Price |
97% |
97.9% |
98% |
97.6% |
97% |
| # Active |
182 |
114 |
135 |
431 |
364 |
| # U/C |
25 |
15 |
9 |
49 |
81 |
| % U/C to Active |
13% |
13% |
6% |
11% |
22% |
Back to Top |
El Paso County
Statistics
Below is a summary of properties sold for all of El Paso County for the months of
March 2008 and March of 2007.
|
March-08 |
March-07 |
Difference |
|
|
|
|
|
|
| Properties Sold |
715 |
925 |
-210 |
-23% |
| Average List Price |
242,027 |
251,289 |
-9,262 |
-4% |
| Average Sold Price |
236,696 |
246,370 |
-9,674 |
-4% |
| % of List Price to Sold Price |
97.7% |
98% |
-0.07% |
-1.% |
| Average Days on Market |
128 |
110 |
18 |
15% |
Below is information regarding specific areas in El Paso County for the month of
February 2008 along with a summary of the same information for February 2007.
Property Type: Residential
| Area |
New Listings |
Ave List Price |
U/C |
Sold |
Ave Sold $ |
%S/L |
DOM |
| Black Forest |
55 |
$402,199 |
24 |
13 |
$478,065 |
98.85% |
125 |
| Briargate |
80 |
$346,148 |
28 |
16 |
$296,619 |
97.94% |
93 |
| Calhan / Ramah |
5 |
$199,340 |
1 |
1 |
$178,900 |
100.00% |
72 |
| Central |
59 |
$225,301 |
19 |
10 |
$120,155 |
99.87% |
126 |
| Drennen Area |
1 |
$125,000 |
1 |
0 |
$0 |
0.00% |
0 |
| East |
61 |
$223,606 |
24 |
11 |
$201,145 |
98.53% |
122 |
| Ellicott / Yoder / Rush |
2 |
$375,000 |
2 |
2 |
$208,700 |
97.66% |
197 |
| Fountain Valley |
89 |
$198,059 |
30 |
29 |
$180,030 |
99.90% |
117 |
| Falcon |
30 |
$247,259 |
14 |
10 |
$202,435 |
98.57% |
165 |
| Manitou Springs |
6 |
$451,566 |
2 |
0 |
$0 |
0.00% |
0 |
| North East |
101 |
$233,977 |
32 |
21 |
$219,914 |
98.03% |
90 |
| North West |
40 |
$303,262 |
18 |
8 |
$386,125 |
96.47% |
236 |
| North Gate |
38 |
$387,078 |
10 |
3 |
$415,990 |
102.42% |
341 |
| Old Colorado City |
17 |
$161,329 |
6 |
7 |
$165,400 |
96.34% |
86 |
| Peyton |
4 |
$288,625 |
0 |
2 |
$227,700 |
98.32% |
72 |
| Powers |
101 |
$222,941 |
40 |
26 |
$198,839 |
97.43% |
85 |
| South East |
67 |
$143,541 |
22 |
10 |
$121,750 |
99.20% |
109 |
| South West |
52 |
$420,236 |
12 |
10 |
$262,755 |
98.65% |
76 |
| Tri Lakes |
61 |
$533,654 |
7 |
12 |
$434,737 |
97.22% |
149 |
| Ute Pass |
2 |
$1,059,500 |
2 |
0 |
$0 |
0.00% |
0 |
| West |
18 |
$335,629 |
7 |
9 |
$173,327 |
95.87% |
81 |
| Total & Average for |
889 |
$327,773 |
301 |
200 |
$248,477 |
98.40% |
130 |
| Above Areas Mar 08 |
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|
|
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|
|
| Total & Average for |
1105 |
$531,612 |
392 |
218 |
$260,179 |
102.81% |
102 |
| March, 2007 |
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| Information is Believed To Be Accurate But Not Guaranteed |
Pikes Peak Realtor® Services Corp. |
 Software Copyright © MarketLinx, Inc. 1997-2008 All Rights Reserved
CONTENT IS DEEMED RELIABLE BUT NOT
GUARANTEED. CONTENT IS PROVIDED "AS IS" WITHOUT WARRANTY. USER IS SOLELY RESPONSIBLE FOR INDEPENDENTLY VERIFYING THE RELIABILITY, ACCURACY AND
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THE PIKES PEAK REALTOR® SERVICES CORP.
Copyright ©, 2008, PIKES PEAK REALTOR® Services Corp. All Rights Reserved. Support: ppmls@ppar.org
Back to
Top
For more information don't forget to check out our website
at
www.pikespeakregion.com
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April's Featured Home of the Month
240 Eagle Pines Dr
Woodland Park, CO 80863
Offered at $548,000
You won't believe your eyes when you see this gorgeous home in prestigious
neighborhood! The main level features stunning hickory & cherry hardwood floors, stone fireplace & formal dining room. You'll love the main level
master with luxurious 5-piece bath that includes a 2 person whirlpool tub & spacious walk-in closet. The upper level includes 2 additional bedrooms,
a full bath and office. Entertaining will be a delight in the huge family-room with wet-bar on the walk-out lower level. Two additional bedrooms,
full bath and incrediible 25 x 23 workshop complete the downstairs. This home is in immaculate condition inside and out and includes lavish
landscaping too. |
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Lots of Windows!
Stone Wall Fireplace |
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