Thank you and welcome to the 2nd issue of KimKproperties Newsletter Volume 2.  For more information within each topic please feel free to use the underlined links.   

Local Real Estate Industry News Snapshot:  

The Southern Colorado chapter of the Institute of Real Estate Management recently sponsored an annual real estate breakfast forecast. Below are key points about your local market:

• One sector of the market that's already out of the box and seeing steady improvements - at least, from the landlord, owner and investor point of view - it's the apartment industry.  Apartments have been filling up steadily in the last few years, in part because tougher borrowing requirements for homebuyers have forced some of them to rent.
• Home sales improved in the second half of 2011 and the year ended with a relatively small number of homes being listed for sale in December, which means less competition for sellers and a better chance that they'll come close to their asking price.
• The biggest demand, which is already taking place in the market, will be among fixer-upper properties.

The Pikes Peak Association of Realtors (PPAR) on Thursday released its monthly report on sales, prices and inventory for January, which showed some of the same promising trends. Home sales totaled 474 in January, a 3 percent increase over the same month a year ago, according to PPAR report. The supply of homes listed for sale totaled 3,157 - the lowest total for any month since 3,116 listings in February 2002. Prices, however, remain a trouble spot. The median price of homes that sold in January fell to $172,250, a 4.3 percent year-over-year decline. January's median was the lowest for any month since $170,000 in April 2002.

 Excerpts from 02/02/20122 Gazette article by Rich Laden

Be an Informed Buyer and  Seller  

...know your HOA

A property located within an HOA (Homeowner's Association) creates mixed feelings among both buyers and sellers. Basically it is a personal choice to purchase a home in an HOA community.  As a buyer, it is important to review the HOA declarations and covenants along with what the buyer receives (snow removal, management, etc.) for the annual, quarterly, or monthly HOA dues.  The Buyer's Realtor is able to provide those documents to the Buyer upon interest in the home and HOA community - prior to making an offer.   

The nuts and bolts of the HOA as part of the Contract to Buy and Sell:   

§ 7.3 Association Documents Deadline

§ 7.3 Association Documents Objection Deadline  

National Newsworthy Article of the Month

Help or hinder for the Housing Market? Government proposals for struggling homeowners who have paid their mortgages on time for the last 6 months .  Read More!

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