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Oftentimes, there are some special financing programs that are available for the first-time homebuyer regarding the Colorado Springs Real Estate market. Cherise Selley, a Colorado Springs Realtor, discusses just two potential options for those who are looking to have their down payment either fully or partially subsidized when contracting on a Colorado Springs home. Cherise Selley briefly mentions some information about El Paso County Bond Money and CHFA loans. Of course, it is advised to glean more detailed information from a qualified lender, especially one who is familiar with these local programs.
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It’s a great time to take advantage of the first-time homebuyer tax credit. Cherise Selley, a Colorado Springs Realtor, explains that if you purchase a Colorado Springs Real Estate home between now and April 30, 2010, that you will receive a tax credit up to $8,000. Income limits for the tax credit are $125,000 for single, and $225,000 for married status. One of the eligibility requirements states that you may not have had an interest in a principal residence for 3 years prior to this purchase. Contact Colorado Springs Realtors with Selley Group Real Estate, LLC for more information.
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While not out of the woods yet, national home builders are starting to see some positives according to an article in today's WSJ. With fewer write-downs and new home order cancellations, as well as benefits from the tax credit and changes in accounting rules, these companies are actually posting profits. As a Colorado Springs Mortgage Lender, it's good to hear some positive news on the home builder front.
Beazer Homes reported Friday that new home orders for their fiscal first quarter rose almost 37% to 728, while cancellations fell to 27% from 46% a year earlier. Helped by a $101 million quarterly tax benefit, Beazer posted a $48 million profit for the quarter.
D.R. Horton posted an even larger profit, $192 million after booking a $149.2 million tax benefit for the quarter. With a 45% increase in new orders and a 12% decrease in cancellations, from 38% to 26%. Write offs for the company fell to $1.2 million from $56.2 million the same quarter last year. CFO Bill Wheat said they expect fiscal 2010 impairments to be "substantially lower" than 2009's.
Impairments are required under accounting rules when the book value of an asset (land in their case) is greater than the market value, thus requiring a write down in the asset and a loss to the company.
Being a Colorado Springs Mortgage Lender, I've seen the affect of the economy on home builders here in Colorado Springs, and I'm optimistic that these companies are in a stronger position with less debt than they were last year. That said, there are many external factors that will contribute to the recovery for these companies, and job growth is the biggest factor which still needs to rebound.
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Colorado Springs MLS Real Estate Market Update - February 2010 Happy Valentines Day from Murray Knoll Partners! Below is a link to our February newsletter and the market update for January. Newsletter articles include: Foolproofing the Sale of Your Home Check out our Real Estate Blog: www.BlogForColoradoSprings.com Recent articles: Other Industry News: Search the MLS: Curious about the house down the street? Checkout our map tool for all Colorado Springs properties which is populated from the MLS at http://www.searchd20homes.com Complimentary Market Analysis: Thinking about selling? Request a free market analysis: http://www.ourdistrict20homes.com/Home_Evaluation/page_2098779.html January 2009 Market update: Market trends for Colorado Springs resale properties are positive. New home starts are down. Check out the statistics at: http://www.ourdistrict20homes.com/COS_Market_Update/page_2115060.html Murray Knoll Listings: Northgate, South Trailridge. NEW PRICE! $535,000. 6 bed/5 bath/3 car garage. Luxury Acuff home with beautiful private backyard. For virtual tour and floor plan visit: http://www.1360HazelineLakeDr.com Tamarak. NEW PRICE! $250,000. Wonderful family home with space for everyone! 4bed/4bath/2car. D-11. Nearly 3000 sq ft. For details and virtual tour visit: http://www.2915oroblancodrive.com Springs Ranch: $325,000. 5 bed/4 bath/3 car garage. Over 3400 square feet. Fenced backyard. Large corner lot. For details and virtual tour visit: http://www.4101fellslanddrive.com Springs Ranch: New Price! $275,000. Too Late – Under Contract! For details and virtual tour visit: http://www.3212HeatherGlenDrive.com Academy District 20 lot: Priced at $185,000. This 2.66 acre lot the best lot remaining in Highland Park. Suitable for a walkout basement with the back of the house facing the front range. Visit virtual tour at http://9684lochwinnochlane.ourdistrict20homes.com Upgraded condo in Academy District 20: Priced at $180,000. Beautiful main level condo with an open floor plan, 2bed/2bath, A/C. For details and virtual tour visit http://6689bethesdaptunitc.ourdistrict20homes.com/ Monument: Priced at $150,000. Short sale with pending contract. Accepting backup offers. Visit virtual tour at: http://623trumbulllane.ourdistrict20homes.com Please let us know how we can help you, your friends, and family, with your real estate needs by call Nancy at (719)-964-4810 or Ann at (719)-459-2213. We look forward to hearing from you. Murray Knoll Partners, “Professional service with a personal touch.” Click on the link below to access the newsletter.
February eNewsletter
Superbowl Sunday
Don’t forget Valentines Day
Watch for up to date information concerning Colorado Springs real estate, mortgage information, Federal programs, etc..
Mortgages 101
Craigslist – Renters Beware
Should I remodel or should I sell now?
Colorado Springs MLS Market Update
Pace of home building improved in January for Colorado Springs: http://www.gazette.com/articles/homebuilding-93441-pace-january.html
Gazette Economic Indicators: http://www.gazette.com/sections/economicdata/
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