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WHAT DO THE EXPERTS SAY ABOUT REAL ESTATE IN 2012?

Wednesday, February 29th, 2012

They say buy a home before the window of opportunity closes!

We had an enlightening conversation with one of our favorite relocation Realtors®, Harry Salzman.  Why do we love chatting with Harry?  Honesty and Insight! Here’s what Harry had to say.

The Wall Street Journal reported rising home sales as a healthy sign of a recovering housing market! Sales of previously owned homes in the U.S. rose in January to the highest level in nearly two years and the inventory of unsold homes contracted to a level considered healthy by economists, positive signs for the housing market. Compared with January a year ago, the WSH reported home sales rose 0.7%.
 
”We’re slowly improving for the right reasons: more jobs, more credit availability and affordability of homes,” said Stuart Hoffman, chief economist with PNC Financial Services Group.

The Daily Real Estate News (from data received from Realtor.com) reported home sellers are facing less competition compared to a year ago, that inventory of for-sale homes has dropped by about 23 percent compared to this time last year, and homes for sale have fallen by 6 percent alone from December 2011 to January 2012.
 


Realtor.com reports the median sales price is on the rise – up nationally more than 3 percent year-over-year!
 
 


Existing home sales rose again in January and inventory is down according to Real Estate Trends.
 
Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to decrease, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said strong gains in contract activity in recent month’s show buyers are responding to very favorable market conditions – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation and rising rents.
 


So what’sthe message that we want our followers to take away?

If you are a Seller, consider putting your home back on the market ASAP! With inventories falling, you won’t have as much competition and your home will attract more attention!

If you are a Used Home Buyer, the window of opportunity for purchasing a home at incredible prices with excellent selection and low interest rates is closing!

If you are a Brand New Home buyer (wanting to take advantage of prices, selection and interest rates) be sure to visit Campbell Homes for your new Colorado Springs Home. Our high performance Colorado Springs homes are located in the finest locations and master planned Colorado Springs Communities with the best schools in Colorado Springs. 

Campbell Homes models are open daily to 5 p.m.  For additional information visit our virtual sales office at www.CampbellHomes.com.

Really! You would settle for used?

Friday, August 19th, 2011

Unless you live under a rock, you’ve heard the daily news buzzing around the Real Estate market.  You know that interest rates are at record lows.  In fact, we’ve seen rates as low as the 3.75% for 30-year fixed rate and even lower for 15-year mortgages.  You’ve read every online story that reminds buyers that it’s a buyers market with steep discounts and plentiful inventory.  But really!  Why would you even want to consider a used home – someone else’s dream of the ideal home – when you could own your own dream home and personalize it along the way?

 

1.  Surprise parties are fun but do you honestly want surprises when it comes to your home.  When you purchase someone’s home, not only will you find their toenails in the carpet (oops, we’re not supposed to use that one!) but also you find someone else’s problems.  Industry experts say that in most cases, it cost on average $12,000 to $15,000 to update someone’s else’s dream home to your tastes and lifestyle.

 

2.  Build your own dream.  Purchasing a brand new home means that you won’t be settling for someone else’s ideas (not to mention decorating style) of what your home should look like!  New homebuilders offer, well, new homes! When you purchase a new home you get to select the floor plan, the home site, and the interior options that  make it, well, your dream home!

 

3.  New homes are cleaner (no not just the carpet)! New homes are built differently than they were five years ago. Retrofitting an older home for today’s technology can be costly and time consuming. Wiring, appliances, insulation, and windows are just some of the improved features one would need to add to bring a used home up to new home standards. Some new homebuilders say that their energy-saving features would cost well over $25,000 to incorporate into the average used home. New homes are just more energy efficient and offer cleaner indoor air quality, more comfort, less energy waste, and a lower annual utility cost of home ownership.

 

4. A new home warranty equals peace of mind!  New homes come with new home warranties on all the appliances, structure, roofing, systems, and the list goes on.  Sure you can purchase a third party warranty but it’s going to cost you a monthly fee as well as a deductible each and every time you call the repairman.

 

5.  What’s your time worth? When you don’t have to spend your time, money and energy on upgrading a used home, you get to concentrate your time, money, and energy on more important things.  Moving in, new furniture, golf lessons at your neighborhood golf course!

 

6.  Award winning neighborhoods.  Let’s face it, real estate is all about Location, Location, Location.  New homes are located in new home communities that offer a safe and secure living environment with the perfect balance of personal and public spaces, state of the art amenities, and the best neighborhood schools.

 

7.  We admit it!  It’s a buyers market and new home builders in all communities are offering competitive pricing, added included features (finished basements, landscaping, window coverings, appliance packages, and more) and extremely attractive incentives to entice you to purchase a new home in lieu of the used home around the corner.

 

8. Low maintenance. New homebuilders have spent a great deal of time selecting the materials and components that go into their new homes.  Our name brand building materials and trade partners install building products that are not only more efficient to use but low-maintenance for the families who live in our homes. Decide for yourself…weekends spent cutting tiles and  replacing worn out linoleum or golf with the boys at the golf club in your own backyard.

 

9.  It’s all about the money.  When was the last time you went through the mortgage loan process.  It can be overwhelming and exhausting.  When you purchase a new home, the builder (through professional relationships with lending partners) has a simplified process with a lender who shares the same goal of making your dream home a reality.

 

10.  Reputation, Reputation, Reputation.  When it comes to purchasing a new home, it’s as important as Location!  New homebuilders are vested in building not only better homes but also better communities.  We live in the neighborhood.  Our kids go to school with your kids.  We volunteer in boy scouts, girl scouts, and the soup kitchen at your local church.  Of course we build new houses, but we also build parks and playgrounds, schools and recreation centers, and a better place for you and your family to call home.

 

Is it a good time to buy a home right now? You betcha!

The housing market is featured in the headlines on a daily basis! But read between the lines – low rates, tax deductions for interest and closing costs, good selection, and motivated sellers make this the perfect time to buy a home!

 

Don’t let the best time in the last fifty years to purchase a new home pass you by without even considering your options! Since 1965 Campbell Homes has been building stylish and comfortable new homes for sale in Colorado Springs in the finest locations and master planned Colorado Springs Communities with excellent community amenities and the best schools in Colorado Springs. Heck, we’ll even throw in a free finished basement (but, for a limited time only)!

 

Starting in the low $200s, NEW Campbell Homes come standard with peace of mind and a guaranteed move in date in seven Colorado Springs locations. Our model homes in Colorado Springs are open daily to 6 p.m.  Or, for additional information visit our online sales office at www.CampbellHomes.com.

Work from Home

Thursday, October 21st, 2010

The Perfect Home Office – Fad, Luxury, or Necessity?

As the landscape of the American workplace changes, the U.S. Census Bureau reports that the number of Americans working out of their homes makes up over 10% of the total U.S. workforce. (This number is expected to rise significantly with the 2010 Census.)

In its January 2010 report, the Census Bureau reported that about one-half of those who work from home have college degrees and earned $75,000 or more annually.  Additionally, the report went on to say that the average American working from home works eleven or more hours in a typical day.

Despite the long hours, people who work from home report that they enjoy a greater degree of flexibility in their workdays and greater job satisfaction.

So what do these long hours working from home mean to homeowners?  It means that new or used homes need to feature flexible spaces that can easily adapt and transition from family space to professional spaces.

With this in mind, we went to the ultimate home experts, HGTV, for their suggestions on how to create the ideal home office space.

1.  Location, location, location. With an average of eleven-hour days, don’t stiff yourself on space (e.g. squishing a tiny desk into a windowless closet to preserve the rarely-used guest room). Also consider traffic flow and your ability to withstand distractions. Do you work best in the thick of activity, or should your office be tucked away in a quiet space? If clients will be stopping by, a private space with ample seating and a private entrance should be a must.

2.  Define the Room’s Function: Decide what activities and tasks will take place in your new workspace. This information is useful in determining how large the space will be.

3.  List Your Office Needs and Design: After you define the function of the office, list the equipment needed to complete these duties. Take into consideration how much desk space you need, how many chairs, what kind of equipment (printers, computers, etc.) and lighting.

To create a productive and comfortable workplace, use your space wisely. Here are a few valuable space-planning tips:

•   Locate your desk so that you are facing the door and have immediate eye contact with anyone that enters.

•   When you are seated, the file cabinet, telephone/fax machine and computer should be easy to reach.

•   If you have a window in your office, place the back of your computer screen at a 45-degree angle to reduce glare on the screen.

•   Plan to have task lighting for reading and writing in addition to plenty of general lighting in the room.

•   Be sure that you have enough power in the room to operate all of your equipment. If you have an older home, call an electrician to check your electrical system.

•   To keep cords neat and orderly, purchase covers designed to house multiple wires and cables.

•   You may need more than telephone line–one for the phone, one for the fax and a separate line for your computer modem.

•   Plan for plenty of work surface. A desk should be at least 24 inches deep and allow a minimum of 36 inches of width.

4.  Plan for Storage: No matter how organized you are, you always need more room than you think for paper, pens, research materials, etc., so be sure your plan includes storage space. HGTV suggests put some filing cabinets in a nearby hall closet if office space is limited. This still provides easy access and won’t take up valuable work area.

5.  Design for Personal Comfort and Style: The most important part of home offices is a good chair. Shop for a comfortable one with rollers, which increases mobility. They are available with a wide variety of arm and back adjustments for more comfortable sitting and to reduce fatigue and physical problems. If possible, choose a style and upholstery that complements the room, but comfort and support is always is essential.

Look for a desk that is suitable for a computer and its components. There are many options including adjustable keyboards and mouse trays. You may want to add a footrest, too. To reduce the chance of headaches, use anti-reflective lamps and computer screen visors (available at your local office supply or computer store). Other items designed to increase efficiency and add style to your office include computer carts and mobile file cabinets.

Paint the walls a color you love. Forget “office beige”: you need a color that gets your work motor humming. For some people, that’s a bright, cheery color like orange or lime green. Others need a calming shade like botanical green or sea foam blue to perform. Find out more about how certain colors can affect your mood.

Give yourself a view. Position the desk where you can stare at something more interesting than a blank wall (even if you do love the color) when you glance up from the computer. A window’s natural light is ideal, but if you’re in a windowless space, hang a pretty picture above the desk, or position your chair to face the door.

6. Make yourself at home. Unless you’re going for a contemporary look, choose extras that enhance the comfy feeling of your home office, like a pretty mug for a pencil holder, trendy notepads and sticky notes, and a decorative wastebasket. Wrap your bulletin board in a gorgeous fabric, and hide utilitarian bookshelves behind curtains made from the same material. Hang inspirational prints on the walls, whether that’s simply your kids’ framed artwork or a classic painting.

7.  Organize vertically and horizontally. Many home offices aren’t swimming in square footage, so using space efficiently is imperative. Hang floating shelves on the walls to get papers and office equipment off the desk, and use vertical file folders on the desk to keep important papers within arm’s reach. Are you a stacker or a filer? If you tend to make piles, get a nice basket to tame your mail, notes, and papers. If you prefer a clean desktop, designate one drawer for your “to-do” papers. Wooden or metal cube storage is a fun alternative to bookshelves, since each space can be used for books, knickknacks, or baskets of odds and ends.

8.  Master your technology. There’s not much you can do to beautify the computer, printer, and phone, but you can hide unsightly cords. Start by making sure your equipment is close to outlets and easy to access if you need to unplug. Encase cords on the desk in a pretty fabric cord cover like this one from Taylor Gifts, and feed the cords into a desk grommet, a plastic or metal cap that helps guide cords through a hole in the desk and hides them underneath. Tame the cord jungle on the floor with cord winders, tubing, or a wire organizer that’s attached to the desk and lifts the cords off the floor.

9.  Let there be light. Here’s a bright idea: make sure your office has plenty of light to cut down on eyestrain and headaches. Position the computer monitor so there’s no glare from a window or overhead light, and put a small lamp on the desk for task lighting.

10. Inspire yourself. Set up a mini-shrine — a few cherished knickknacks, a piece of framed art, a special photo on your desk — that motivates you to create and/or get the work done so you can get out of there. A print of Paris can channel your inner muse, or a photo of your children might remind you that you’re doing it all for them.

If your current work from home space is no longer addressing your needs, consider Campbell Homes for new homes in Colorado Springs in neighborhoods like Cordera, Indigo Ranch, and Meridian Ranch.  Campbell Homes are available in Colorado Springs’ finest neighborhoods with the best Colorado Springs Schools, award winning Academy School District 20 or Falcon School District 49.  Campbell Homes are close to work, school and play with easy commutes to Peterson Air Force Base, Schriever Air Force Base, and the United States Air Force Academy.  Our models are open daily from 10 a.m. to 6 p.m. or you can visit our online sales center 24/7 at www.CampbellHomes.com.

Each week New Homes for Sale Colorado Springs discusses useful information on homes, issues, community and more. Covering a different topic each week, this thought provoking and educational blog is provided by new homebuilder Campbell Homes in Colorado Springs, Colorado.

NAHB AND NAR LOBBY FOR FEDERAL HOMEBUYERS’ TAX CREDIT DEADLINE TO BE EXTENDED

Monday, July 12th, 2010

There has been some confusion on the recently extended tax credit deadline.  The federal homebuyers tax credit program was not extended for new contracts.  But, thanks to the lobbying efforts of the National Association of Home Builders and the National Association of Realtors, the deadline for closings on home purchases eligible for the federal Homebuyers tax credit has been extended from June 30 to September 30, 2010. This extension was offered because many of the eligible contracts (contracts written no later than April 30, 2010) had suffered delays caused, primarily, by the slow response times of lenders. Many homebuyers who were about to lose the federal tax credit through no fault of their own will welcome this extension.  It’s important to note that qualified members of the military, Foreign Service, and intelligence communities have another year to buy a home and claim the credit.

It is estimated that this extension will affect at least 200,000 homebuyers and countless other individuals and companies that would have been negatively affected, had the extension not been granted. i.e. the home sellers, mortgage loan processors, homebuilders, sub-contractors, title companies, etc. The ripple effect of the tax-credit is hard to measure, but it is easy to see that the tax credit benefitted the entire economy.

IS IT THE RIGHT TIME TO BUY?

Thursday, July 1st, 2010
When is the right time to buy a new home. Now may be the answer.

When is the right time to buy a new home. Now may be the answer.

Last week we talked about the top five must haves to make a home more livable. Notice we didn’t say top five must haves to make a house a home. We all know that a home is not about the stuff but the memories and families who live in them. This week we ask the question is not the right time to buy? This is a question we’ve been asking and answering for months! Ilyce R. Glink, award-winning author and radio talk show host, says it doesn’t get much better! In a recent article in MoneyWatch.com, Glink expanded on her opinion by pointing out: “Mortgage Interest Rates Are At 40-Year Lows.” In February we were hearing 4.75%, which was a 30-year low at the time! When we checked in this week with our approved Mortgage Lender, Donni Feldman with Peoples Mortgage, she quoted us just 4.5% for a 30-year fixed mortgage. So here we are four months later at 4.5% – Who cares about the expired tax credit, if you don’t buy a buy a bigger home, a different neighborhood, a smaller home, a custom home, move out of your rental, (you name it) you’ll soon wish you had! Glink goes on to say “Home Prices Are At Generational Lows. Right now, home prices are in a state of fluctuation. They’re rising (slightly) in some areas and falling in others. But just because home prices might fall before they rise again shouldn’t keep you from making an offer on a home as long as you find the right house at the right price on the right terms.” Glink says she truly believes that Americans look back on these years as an optimal home buying opportunity and that everyone should take advantage of the trends and opportunities that are available for real estate buyers and investors at the moment. On June 28, Buy-And-Sell-House-Fast.com reported “Is now the time to buy a home?” is the most commonly asked question of economists and Realtors. The answer to the question that is on the minds of most buyers depends on a number of personal factors, but the general response in most cases is – yes. It’s nearly always a good time to buy a home. While the experts don’t recommend buying a house for a quick profit, they do recommend (time and time again) buying a house as a home. Buying a home to live in: If you’re looking for a home rather than a house, you’re still in luck. Over the short term, there is a chance that home prices will drop. On the other hand, odds are extremely high that home prices will be higher in the long term. In other words, real estate will continue to be what it has always been – a steadily appreciating, long-term investment. If you plan to buy a home and will be living in the home for at least five years, it may not matter so much what happens with home prices now. Home prices could fall as a result of rising interest rates, but a lower price home might not save you much. As an example: If you finance the entire $400,000 home with a traditional 30-year fixed mortgage rate at 4.5 percent. Then, your monthly payments would be $1910 (principal only). If now, we assume due to rising interest rates, the home prices fell to $350,000. If you finance $350,000 at 6 percent, your monthly mortgage payment would be $2098 (principal only). As you can see, there’s a significant buying power with today’s low rates. We checked in with our friend, Realtor Harry Salzman, on whether or not he thought now was the time to buy a new home. He pointed us to his weekly article that discussed just this! Harry pointed out some undeniable facts: • Mortgage rates are at an all-time low. (Harry’s seen rates as low at 4%.) • Home prices are very low. • Inflation will almost certainly rise. • Mortgage rates will eventually rise. • Home prices will eventually rise. So. Is it the right time to buy? The answer is simple, as long as you know how to take the necessary steps to protect yourself against a downturn in housing prices. If you’ve bought a home, experts say, this is the time to put as much into the paying off the principle of your mortgage as possible. The more you put into the principle, the higher your equity in the house when and if you do decide to sell. Industry experts recommend never taking crazy mortgages loans such as adjustable-rate, interest-only, option-payment … and other risky mortgage loans that will get you into trouble should the home prices soften and interest rates rise. Most importantly, buy the home that best meets the type of mortgage you can afford; not the mortgage that best meets the home you ‘want’ to buy. Additionally, most experts agree the longer you own your home, the more your investment will payoff. If you’re buying during a hot real estate market with prices at all-time highs, real estate exerts suggest that you plan to hold the property for at least five years to see a real profit in it. Is now a good time to buy a house? The undeniable answer… If you’re in a position to support a monthly mortgage, if your credit is good enough to qualify for low interest rates, and if you expect to live in the house for at least five years, then you’re almost guaranteed a profit when you sell. If you love the house, and know that you can afford the mortgage – it’s a good time to buy a home, no matter what the market might do!