Peterson AFB, CO

Tax Credit for military personnel

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Military families stationed at Fort Carson, Peterson AFA, Schriever AFA, and the U.S. Air Force Academy and other military installations in the Colorado Springs area in Colorado Springs will be glad to learn that the First Time Home Owner Tax Credit has some wonderful additional benefits for the military.

Here's some of the highlights:

• Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit.
• Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individuals spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
• Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer's principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters.
• Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years, or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.
• According to the detailed information on the IRS web site, only one spouse must be overseas on official extended duty for the requisite amount of time for either spouse to be eligible for the 2011 extension of time to purchase a principal residence and claim the credit.

The IRS web site includes a very detailed (and easy to understand) explanation of the benefits.

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Colorado Spring Real Estate

Market Report for Powers Area, Single Family Homes

Includes Homes in Springs Ranch and Stetson Hills

Search for Homes in Powers Area

Homes in Colorado Springs Powers area continue to be a NEUTRAL Market, as there is currently a 3.9 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a "NEUTRAL MARKET".

• Number of Homes in Powers area in Colorado Springs sold are up 11% more than in 2008, but are down substantially from 2005, when 1533 homes were sold.
• Average pricing continues to see downward pressure, currently down 5% from 2009 to 2008. 2009 pricing is down 10% from the high in 2006.

Recap of 2009, 2008, 2007, 2006, 2005, and 2004

This Colorado Springs Real Estate report contains information on Single Family homes in POWERS

This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.

Colorado Springs Real Estate Agent, An Expert You Can Trust

Selling Real Estate in the Colorado Springs area, including Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake

www.ColoradoSpringsVintageHomes.com, www.KathyTorline.com

Posted by Kathy Torline - Nordstrom 719-287-1049 KTorine@msn.com

Peterson AFB housing, what are my choices?

Must Read Posts: Relocating, it's all about the schools

When relocating to Peterson AFB or Schriever AFB, there are many neighborhoods to choose from including the Powers Corridor on the East Side of town, Falcon/Peyton also on the east side of town as well as the Marksheffel area. Commute times vary from 10-35 minutes from these areas.

Search for Homes for Sale Near Peterson AFA and Schriever AFA

Powers Area in East Colorado Springs

As Colorado Springs continues to grow farther east, the homes on Powers Blvd are becoming more and more popular. It has the city's largest concentration of retail shopping, restaurants and entertainment; and new restaurants and shopping continues to be added. Commuting from Powers takes 10-25 minutes. Some of my favorite neighborhoods include Stetson Hills, Indigo Ranch, and Springs Ranch.

Falcon and Peyton

Falcon and Peyton are two of the upcoming and growing neighborhoods in the Colorado Springs area. They are located east of the Powers Area, and are incorporated towns. The availability of affordable land as well as proximity to Peterson and Schriever Air Force Bases have helped promote rapid growth and development in the Falcon area. The town originally spent several decades as a quiet ranching community until it experienced rapid residential growth throughout the 1990s. Some of my favorite neighborhoods include Woodmen Hills, the Metropolitan Club, and Meridan Ranch. Commuting from Falcon and Peyton takes 15-35 minutes.

Black Forest

The Black Forest area encompasses some 200,000 acres, and is roughly defined as the area from Highway 83 to Eastonville Road, and County Line road to Woodmen Road in unincorporated El Paso County. The area is heavily wooded with some open grassland areas, and is characterized by mostly 5 acre and larger lots in a rural setting. The elevation varies from approximately 6500-7800 feet. Commuting from Black Forest takes 20-45 minutes.

Marksheffel Area in Eastern El Paso County

Marksheffel area is named after a north/south road east of the Powers Corridor and mainly encompasses a neighborhood called Claremont Ranch, which is a newer neighborhood that offers newer single family homes and townhomes. Also, a new up and coming area in the Marksheffel community is Banning Lewis Ranch. Commuting from Marksheffel takes 15 - 25 minutes.

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Colorado Springs Real Estate

Posted by KAT

Powers, including Peterson AFA and Schriever AFA

Market information for Active and Foreclosure Homes in Powers As of 4-4-09

For a FREE list of Foreclosure Homes, Email KTorline@msn.com

Neighborhoods: Claremont Ranch, Cimarron Hills, Springs Ranch, Ridgeview at Stetson, Stetson Hills Indigo Ranch, Greenhaven

Active homes for sale, INCLJUDING FORECLOSURES

• Short sales: 68 (13.8%)
• Bank-owned: 18 (3.7%)
• Regular: 403 (81.9%)
• HUD: 3 (.6%)

Active Homes for Sale 492

• Single Family Homes: 420 (85%)
• Condos/Townhomes/Patio Homes: 72 (15%)

Partial list of Foreclosed homes currently on the market

This Colorado Springs Real Estate report contains information on homes in Powers Colorado Springs

This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.

A Colorado Springs Real Estate Agent You Can Trust

Selling HOMES in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake

www.Kathytorline.com & www.ColoradoSpringsVintageHomes.com

Colorado Springs Real Estate

Posted by KAT