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Open Each Door When Deciding to Rent or Buy

by The Colorado Springs Group™

Is it better to rent or buy? On paper, one is almost always better than the other. Unfortunately the basic numbers don't factor in your individual situation and/or plans for the future.

Here's a good example. Let's say 3 years ago you decided to buy instead of rent because financially it made sense. Today you want to move north 10 miles because of a great new job you accepted. The housing market has dropped, and there is a good chance that you would need to pay to sell your home, if you can at all (unless you made a large down payment).

Suddenly it wasn't necessarily as great of a financial decision. Maybe you saw this potential change coming when you decided to buy. The point I'm trying to make is that while no one can predict the future, there is a big difference between the terms of a lease and mortgage.

If you're not fairly certain you will be in the home for at least 5 years you really need to consider more than just what makes sense financially month to month right now. If you're planning a family, make sure the home is suitable for what you are planning.

2009 October Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from October. Single Family & Patio Homes

Black Forest: 10 Sales for a total dollar volume of $4,413,900

Briargate: 39 Sales for a total dollar volume of $10,749,807

Central: 58 Sales for a total dollar volume of $8,413,900

East: 51 Sales for a total dollar volume of $8,710,000

Fountain Valley: 97 Sales for a total dollar volume of $15,935,584

Falcon - Peyton: 42 Sales for a total dollar volume of $9,441,080

Marksheffel: 14 Sales for a total dollar volume of $2,945,259

Northeast: 67 Sales for a total dollar volume of $13,715,975

Northwest: 24 Sales for a total dollar volume of $7,205,000

Northgate: 24 Sales for a total dollar volume of $7,427,938

Old Colorado City: 17 Sales for a total dollar volume of $2,914,901

Powers: 99 Sales for a total dollar volume of $20,447,188

Southeast: 49 Sales for a total dollar volume of $6,304,020

Southwest: 33 Sales for a total dollar volume of $9,636,956

Tri-Lakes: 34 Sales for a total dollar volume of $13,635,400

West: 14 Sales for a total dollar volume of $2,608,250

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 10/1/2009 through 10/31/2009.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686