15 Reasons to BUY a Home in Colorado Springs NOW!

15 GOOD REASONS TO BUY A HOUSE NOW IN COLORADO SPRINGS!

1.  Home prices adjusted to a lowest level in more than 3.5
years in Colorado Springs, Many deals to be made!!! (October 2008).



2.  Interest Rates are close to 40 year lows.  30
Year fixed rate mortgages are priced around 5.5% and could go lower.**



3.  Forbes Magazine picked Colorado Springs as One of the Top 10 Cities in
the U.S. "Where Prices are Likely to Rise in the Near Future".
 



4. Smart Money Magazine  (THE WALL STREET JOURNAL MAGAZINE OF
PERSONAL BUSINESS) Picked Colorado Springs as it's number 6

 “TOP 25 MARKETS TO REBOUND”.



5. KIPLINGER Magazine  “BEST CITIES TO LIVE, WORK
AND PLAY” Chose Colorado Springs a it's number 5 Choice. Kiplinger
Link



6. The 2008 edition of "Cities Ranked and Rated" Ranked Colorado
Springs as the Number 4 Best Choice Best
Places Link



7, Colorado Springs is Ranked 38 out of 100 U.S. Cities to Attract
25-34 year olds.  Denver's ranking was 59. Welcome Gen Y and
X.  Affordable housing ad great jobs.



8. First Time Home Buyers can get up to $7500 Tax Credit when
Purchasing a Home before July 2009.*



9. Home buyers at certain income levels can now deduct mortgage
insurance associated with their loan.*



10. Homeowners have the ability to deduct mortgage interest from their
taxes,  this is the largest tax break a person can have.*



11.  Homeowner have the ability to deduct real estate taxes
from their taxes every year as well.*



12.  The market is getting stronger so less potential for
financing issues should arise.  Colorado Springs is in a
stabilizing market not declining.



13.  In the year a home is purchased, the cost of obtaining a
loan, origination, discount points, and pre-paid interest are tax
deductible.*



14.  A home owner will pay NO capital gains taxes if they sell
their primary residence.  This is as long as the capital gain
is less than $250,000 for singles and $500,000 for married couples.
 This is only on the gain not on your sale price.  If
you bought your home for $300,000 in 2005 and sold that home for
500,000 today your gain would be $200,000 tax free.*



15.  Currently the troop level at Ft. Carson is approximately
18,000.  That level is anticipated to go to 23,000 by 2009 and
28,000 by 2011.  Troops. spouses, and family will account for
an approximately 70,000 additional people in the Pikes Peak Area by
2010.  This is a great time to be an investor in a rental home
or buy now so you can take advantage of appreciation.

* Please
contact your Tax Advisor for Specifics

**Subject to Terms and Conditions with Lending History and Daily Loan
Pricing

Jay Carden

Broker Associate

719-322-4939

Search Colorado
Springs MLS for FREE

Lower Mortgage Defaults, BUY or Sell Today

Lower Amounts of Mortgage Defaults in Colorado

We are now ranking 20th out of the 50 states for people that are more than 2 months behind in their mortgage payments.  This is great!!!  The number of people who are late in paying is 3.38 percent up from 2.56 percent last year.  This means that about 97% of everyone with a mortgage is paying on time. 

This should cause the foreclosure rate to stabilize and bring prices back up.  The national average of defaults was 3.96 %, making Colorado 15 percent better than nationally.  The worst states, FL 7.8% and NV 7.7% are still seeing declines in market value.  

So you ask what does this mean for me as a buyer or seller in Colorado?  It means as a seller your home value has stabilized.  As a buyer, this means that you can find a great price on the home of your dreams.  This is a great time to look at financing a home as well.  The 30 year mortgage rates fell again this week to a rate about 5.5%.  

All markets are localized and the Colorado Springs Market is rebounding and here is more proof that we are at the bottom of the market.  Now is the time to make the move.  Rates are low, supply of homes are high, and the fundamentals are strong.  Call me today to see homes that fit your needs.

Jay Carden

RE/MAX Properties, Inc.
Search the Colorado Springs MLS
719-322-4939

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Jay Carden
Search the Colorado Springs MLS
719-322-4939