Jason Roshek

Quick update on Foreclosures in Teller County, Colorado

Well here are some interesting stats for Teller County, Colorado.

From January 1 through October 31, 2009 there were 263 foreclosures started.  Only 161 properties actually got foreclosed by the Lender.

From January 1 through October 31, 2010 there were 266 foreclosures started and only 158 were bought back by the Lender. 

If you are having trouble with making your payments, please call me or one of the members of the Roshek Group to set up a time to see what we can do to help you.

MBA Report: 1 in 7 Homeowners Past Due or in Foreclosure

In a new report from the Mortgage Bankers Associations, 1 in 7 homeowners are delinquent or in foreclosure.  Compared to last year 1 in 8 were delinquent or in foreclosure. 

I believe that real estate market will continue to go down.  There are a few reasons I believe this will be the case.

1.  The tax credit for first time homebuyers stole buyers that would have been buying later this year.

2.  Unemployment is too high.

3.  With that many people going being delinquent or going in to foreclosure.  These people will not be able to buy.  They will have to rent.

4.  That will lead to investors searching for Steals so that they can make money by renting.

If you would like more information about the local market in the Pikes Peak Region, please email at jason@theroshekgroup.com



Coldwell Banker Buyer Bonus Program

Coldwell Banker is trying to keep the housing market moving, in the right direction.  Coldwell Banker introduce the plan on national television on April 30, 2010.

The Coldwell Banker Buyer Bonus Program Is where home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer,  of their home’s purchase price to buyers who sign a contract before July 31, 2010.  There is no deadline for a closing date.

For more information please go to click the following link Coldwell Banker On Location.

Or call 719-687-1534.

Selling my own home, oh the fun

Selling my own home is a great reminder of what all Sellers want.  A Quick Sale, for the highest price and the least amount of work.  Those thoughts are the immediate concern.  The real thing that I really want is real feedback.  Like, why did the buyer go see my home if they really need a main level master.  Or the buyers really can not afford to be in this price range.  To me that is the most frustrating.  The best part about our team is that we do ask the questions to the other agent to find out why and where and when. 

Another thing that is funny, at least to me is, that buyers expect a 20 something year old home to be Brand New,  I call this the HGTV complex.   Acting as a Doctor, take 2 M&M's and buy baby buy.

The Pulse of the Housing Market in Woodland Park up to $250K

It is officially Spring Break, and that means...SNOW...and a update on the housing market in Woodland Park.  Woodland Park has seen an increase in inventory since November 29, 2009. 

In Woodland Park under $250,000, currently as of the this morning there were 76 homes that are available to buy.  There are  additional 5 homes that have a contract with a first right of refusal (most likely a Short-sale).  There are 6 homes that are Under Contract, this means that they just went under contract or are waiting for the Buyers to do the inspections of the home.  There are 13 Pending homes that are getting ready to Close.  The Best news is that the there was 30 homes sold since Dec. 1, 2009.  That means that about 8.5 homes are sold the last 3 1/2 months.  The Pulse of the Housing Market is not as good.  taking all the homes that are under contract (24) divide by the 3.5 months is 6.89 homes per month have gone under contract per month. 

The means there is a total of 9 months of inventory.  Looking deeper in the inventory, there are 8 homes under $100,000.  From $100,001 to $150,000 there are 12 homes available.  That means there are 56 homes available to buy from $150,001 to $250,000.  10 homes have been on the market less than 2 weeks.  The average days on market has drop to 166 days on the market.  So the best homes are still selling.  If you have any questions about Real Estate in the Pikes Peak Region please call 719-687-1534, or email to jason@theroshekgroup.com.

The Rush could be on!!!

Within the last 7 to 10 days showing activity, the amount of times a home is showed to a Buyer, has increase greatly.  The rush to buy before interest rates increase is starting to push to Buyers buy.  What I predict is that you will start to see more multiple offers.  That is when 2 different buyers make offers to the same Seller.  I recommend you get your offers in now. 

Come April 1, 2010. The joke will be on us...

Come March 31st, The Fed is going to stop buying Mortgage Back Securities. 

The Results predicted by many is that interest rates will jump to 6.0 maybe up to 6.5 percent.  That may not seem like a lot but that could mean that your mortgage will go up about $120 to $180 per month if you have not locked in a rate or if you are thinking of buying a home after March.

I believe that this will happen to...except can the Fed afford to do this?  (That question is for another Blog)

If 10% of the people are unemployed and interest rates go up, then how many people will be able to Buy a home.  This in turn could lead to more foreclosures and a greater decrease in home values. 

This is not good either. Stay Tuned

Crestwood Subdivision in Woodland Park

Crestwood Subdivision is maybe one of the best values in Woodland Park, Colorado.  Crestwood has great views of Pikes Peak.  Is just above the Middle School for Woodland Park Re-2.  There is a park just to the west of the subdivision.  There are hiking trails just to the north too.  You can go up Rampart Range Road and explore all there is in the National Forest or at the Rampart Reservoir.

Homes in this subdivision range from $240,000's to $400,000.  depending on size and views and floor plans.

If you have more questions please call or email me.

 

Northwoods subdivision in Woodland Park, Co.

This is a nice subdivision for many reasons.

Meadow Wood Park borders this subdivision to the the west.  At this park is baseball fields, softball fields, soccer fields, swing set, Ice Hockey ring used during the winter, and tennis courts.

The homes in this subdivision were mostly built in the late 70's and throughout the 80's.

The Price range in this neighborhood average around $185,00 to $230,000.  Most of the homes have 3 bedrooms, 2 bathrooms and 2 car garage.

The Northern Eastern Teller Fire Department is located just to the east of this subdivision.  Northwoods subdivision is within walking distance to downtown Woodland Park.

Report from Fannie Mae

Good News Bad News From RISMedia.com 

Good News is that Foreclosures are selling.  Bad news is more foreclosures are on the way

According to its most recent quarterly report, Fannie Mae acquired 98,428 homes through foreclosure during the first nine months of last year and sold 89,691 REO properties during the same period. However, at the end of September 2009, Fannie Mae still had 72,275 REO properties on its books, marking a 7% increase year-over-year.

Furthermore, Fannie Mae’s monthly summary for November 2009 showed notable growth in seriously delinquent single-family home loans held or guaranteed by the company. Up from 1.89% in November 2008, loans three or more months behind in payments or in the foreclosure process soared to 4.98% in November 2009.

Read more: http://rismedia.com/2010-01-10/fannie-mae-adopts-new-reo-policy/#ixzz0cKZCeNRF

So what does that mean,

That means without growth in jobs, there will be more foreclosures coming on the market.  So please call your local Realtor if you are behind on payments.  If you do not have an agent, call me I will help you find someone that can help.