Jerry Cobb

Many neighborhoods dropped a bit, but El Paso County actually saw a small increase in home prices in 2008. Some neighborhoods (like Skyway) saw big increases again in 2008. Now is the time to buy in Colorado Springs, things are starting to come back again! Interest rates are still low, prices are affordable, there will not be a better time than now! Check out the 2008 report from The Gazette...

http://tinyurl.com/cso452

Even though Colorado Springs ranks 57th in the country in foreclosures, it's an improvement, a sign that the ship is slowly turning here! http://gazettebiz.freedomblogging.com/2009/04/22/colorado-springs-ranks-57th-among-nations-metro-areas-in-foreclosures/1745/

Our local board and the State of Colorado aren't playing nicely with each other!

http://www.gazette.com/articles/toll_49335___article.html/estate_association.html

As a Certified Distressed Property Expert, I know many homeowners think that there's no difference between a short sale and a foreclosure in regard to their credit or their life.

Nothing could be further from the truth.

Fact#7: The affect of a foreclosure on your credit score is significant. In most cases, it will be lowered anywhere from 250 to over 300 points! Typically, it will affect your score for over 3 years. With a short sale, only late payments on a mortgage will show and after sale, the mortgage will be reported as paid or negotiated. This will lower the score by as little as 50 points if all other payments are being made. A short sales affect can be as brief as 12 to 18 months. (Source: Distressed Property Institute, LLC)

Homeowners need to know the facts about foreclosure and ways to avoid it...if you have questions, contact me at jerry.cobb@wesellmore.net or 719/492-4041

As a Certified Distressed Property Expert, I know many homeowners think that there's no difference between a short sale and a foreclosure in regard to their credit or their life.

Nothing could be further from the truth.

Fact#6: Current employment could be jeapordized. Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions. A foreclosure in many cases is grounds for immeidate reassignment or termination. A short sale is not reported on a credit report and is therefore not a challenge to employment. (Source: Distressed Property Institute, LLC)

Homeowners need to know the facts about foreclosure and ways to avoid it...if you have questions, contact me at jerry.cobb@wesellmore.net or 719/492-4041