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2009 November Sales Activity

by The Colorado Springs Group™

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

Black Forest: 13 Sales for a total dollar volume of $4,698,500

Briargate: 40 Sales for a total dollar volume of $12,245,860

Central: 61 Sales for a total dollar volume of $8,816,135

East: 60 Sales for a total dollar volume of $10,606,724

Fountain Valley: 116 Sales for a total dollar volume of $18,962,773

Falcon - Peyton: 48 Sales for a total dollar volume of $10,715,245

Marksheffel: 8 Sales for a total dollar volume of $1,462,223

Northeast: 57 Sales for a total dollar volume of $12,364,350

Northwest: 26 Sales for a total dollar volume of $9,371,635

Northgate: 18 Sales for a total dollar volume of $5,438,979

Old Colorado City: 18 Sales for a total dollar volume of $2,588,001

Powers: 101 Sales for a total dollar volume of $20,167,601

Southeast: 55 Sales for a total dollar volume of $7,488,268

Southwest: 49 Sales for a total dollar volume of $14,669,653

Tri-Lakes: 36 Sales for a total dollar volume of $12,646,631

West: 11 Sales for a total dollar volume of $3,584,500

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 11/1/2009 through 11/30/2009.  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."

Loan Fraud

by The Colorado Springs Group™

Both lenders and borrowers have been guilty of it, though right now it seems as though things are finally being done about the lenders taking advantage of people.

When we've looked through paperwork to better understand someone's situation in order to help find a solution, it's clear how complicated things were to understand for some people. Take an ARM (adjustable rate mortgage) for example. We've seen it where the ARM only moved up if a certain amount of the mortgage was not paid down in a given amount of time. The borrowers would have only accomplished this by making triple house payments. In my opinion that's completely unrealistic.

We haven't yet seen something that was not disclosed in any way to a borrower. The worst we have seen is that an escalation clause can take effect if certain things happen, but none of these things has happened before so don't worry it probably will never happen. It was like saying "By the way, but probably not".

You have every right to go through all documents regarding every part of buying a home. Take your time to read them and understand them. It's just not wise to agree to something you do not fully understand.

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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