Kristi DeFazio Colorado Springs Real Estate 719-459-5468

Below is a list of homes broken into price range that have sold in January of 2009 in El Paso County. If you look at the data, you will see the months supply of inventory of each price range (or how many months it would take at that rate to sell all the available homes for sale)

The higher priced homes are hurting the most. There were NO Sales in Jan. for the homes priced $800,000 and above. The price ranges of $50,000-$99,000 and $150,000-$199,999 are doing well as far as month's supply is concerned. There are a lot of bank-owned properties in this range that are selling as well.

If you would like to speak with me concerning real estate or if you have real estate needs in Colorado Springs, please contact me by phone at 719-459-5468 or kristidefazio@remax.net You can view all the listings at www.kristidefazio.com

Kristi DeFazio

RE/MAX Advantage

5590 N Academy Blvd

Colorado Springs, CO 80918

Congratulations to all of the RE/MAX agents in Colorado Springs for leading the area in listings sold! I am proud to be affiliated with such a great company.

If you are looking to buy or sell a property in Colorado Springs, please give me a call. You can search listings on my website at www.kristidefazio.com

I can be reached at 719-459-5468

Kristi DeFazio

RE/MAX Advantage

5590 Academy Blvd.

Colorado Springs, Co 80918

"Investing in YOU!"

Hey- In case you haven't heard...IT'S A BUYER'S MARKET!!! If you are in the market to buy a home there is no time like the present!

Do you want to be kicking yourself in a few years? Right now is a great time to buy because:

• Interest rates are lower than they have been in 10 years. They fluctuate quite a bit, but overall they have been at historic lows.
• Prices are low. Even if they drop a little more, with the interest rates so low RIGHT NOW we never know what they will be in the future. If prices dropped a little more and interest rates go up quite a bit, you would still be better off to buy NOW.
• Choices, Choices, Choices- With inventory so high, you can be picky. You have so much to choose from!
• Real Estate is a great investment for the long-term.

So, If you don't want to be repeating the words in the title-take advantage of this buyer's market! If you have a home already and don't want to move- get an investment property.

It is psychological isn't it- when prices start going up we feel secure about the investment and want to buy. When they are down, we wonder about the investment. Buy LOW-SELL high! We've all heard it, right?

IF you need to sell and you are planning on buying another home you are still going to be better off-Let me explain.

Most buyers when buying a new home buy a more expensive home or "trade-up". Let's say the market is down 10% for this illustration:

You sell your house at $200,000 and lose 10% of the value when it sells, so it only sells for $180,000. That is a loss of $20,000 because of the market.

Now-let's say you turn around and buy your next home that would be $250,000 and you get it for 10% less because of the market. You then get it for $225,000 which saved you $25,000. So, between selling your house and buying your new one- you came out ahead $5,000.

SO- even though it is a buyer's market. You can still reap the rewards if you have to sell first.

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If you have any questions, would like a CMA or would like me to create a personalized webpage for you of listings that meet your criteria in Colorado Springs, please call me at 719-459-5468 or e-mail at kristidefazio@remax.net. I am here for all of your real estate needs.

INVESTING IN YOU!

I have people ask me all the time, what is the difference between a short-sale and a bank-owned property? So, I will first answer that question, hopefully in simple terms.

Short Sale- This is where you are trying to sell your home for less than you owe the bank and the bank must agree to take less (short) of your loan amount.

For Example, let's say you owe $200,000 on your home and you can only sell it for $190,000 in this market, or that is all you will be able to pay the bank after all of the costs, etc... Then, the bank must agree to let you sell and only pay them the $190,000, thus forgiving the $10,000. You will most likely get a 1099 for the forgiven amount (please talk to your accountant or attorney if considering this for tax ramifications)

Bank-owned- This is where you have not made your payments, the home has gone through the lenghty foreclosure process and has foreclosed. The bank owns the property.

CURRENTLY IN EL PASO COUNTY LISTED ON THE MLS AS OF JAN. 7, 2009:

BANK OWNED PROPERTIES-296

SHORT-SALE PROPERTIES- 312 (note, not all of the properties may be listed as short sale)

This number changes daily.

It is a great time to get investment property. If you would like to know more, please contact me at 719-459-5468

Kristi DeFazio

RE/MAX Advantage Colorado Springs

www.kristidefazio.com

kristidefazio@remax.net

I work with a lot of buyers and often times I take them into properties that are not vacant and staged beautifully. However, the place may look beautiful, but smells awful.

Remember that buyers use other senses to be attracted to a home.

I was once told my my Realtor years ago when selling my own home that the #1 scent that attracts buyers attention and makes them want to stay in the home is Cinnamon/Apple. Now, I am not sure if that is true or not or where the research came from, but I agree. So, I bought my candle, lit it before showings and my house sold very quickly. I WAS A BELIEVER!

What I do know for sure is that certain smells make me (and my buyers) want to turn around and RUN out the door no matter how beautiful the house is:

• TRASH SMELL- Don't throw away any uncooked chicken or meat in your kitchen trash and let it sit for more than a day. You may not smell it, but after a day-it REEKS. I am sure you all know what I am talking about. Put that in your outside trash can and DON"T LEAVE IT IN THE HOT GARAGE EITHER-EVEN WORSE!
• DIRTY DIAPERS-I love babies- I think we all do-but please throw out the dirty diapers. Get them out of the house. Some of the Diaper Pails and containers are suppose to mask the smell, but they don't all do a good job. So, be safe and remove the pail before a showing.
• JUST COOKED AN EXOTIC MEAL SMELL- You know what I am talking about, the onion/spices that fill up the room that don't smell yummy like baked bread does. They never serve onions in model homes-stick with cookies!
• PET ODOR- AGAIN, you probably can't smell this one if you live with the pets, so let your Realtor be the judge or anyone who doesn't live there. There are products you can put on the carpet and vacuum to help with this one.

I know that most people know that before a showing they can do things to make the house smell good, like light a candle, bake cookies/bread, use a plug-in, etc... Just make sure you don't overlook these nose offenders that turn off buyers!

If all else fails- use Apple Cinnamon! :)