Campbell Homes is Now Offering Finished Basements in Select Communities

CLICK on above image to view information about our new included basement promotion!

Questions? Contact our Internet Concierge, Kelly Noble, at knoble@campbellhomes.com

Become a FAN of Campbell Homes on Facebook!

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The Campbell Homes Peace of Mind Program

CLICK on image to view flyer about our new Peace of mind program!
Questions? Contact us at info@campbellhomes.com

Become a FAN of Campbell Homes on Facebook!
www.facebook.com/CampbellHomesCO

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BuisnessWeek Ranks Colorado Springs in Top Ten Places to Start Over

According to BuisnessWeek, Colorado ranked #8 in the best cities to start over in. Here are the stats that BuisnessWeek posted about our great city:

No. 8
Colorado SpringsCompanies planning to hire in next quarter: 22%

Best job prospects: Construction, Nondurable goods manufacturing, Wholesale & retail trade, information, Financial activities, Leisure & hospitality, Other services and government.

Population: 372,437

Average home price in January: $190,000

Unemployment rate: 8.5%

Colorado Springs, the state's second-largest city, is 80 miles south of Denver's International Airport and about 90 minutes east of popular ski resorts. It draws more than 6 million visitors each year.

You can see the full list at: http://www.businessweek.com/lifestyle/content/jun2009/bw2009069_836158.htm

Its no surprise to those for us who live in Colorado Springs that it is a beautiful place to live but to be told that it is also a great place to start over because Colorado Springs is one of the cities "where jobs are available and real estate is affordable", well that just proves even further this is a wonderful place to live.

Thinking about moving to Colorado Springs? Check out Campbell Homes for information about the homes we build and the communities we build in. Go to http://www.campbellhomes.com/ or you can connect on Facebook by becoming at fan: www.facebook.com/CampbellHomesCO


Questions? Contact me, Kelly Noble, at knoble@campbellhomes.com

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10 Reasons Owning a New Home Can Bring You Freedom

In the spirit of my favorite holiday, Independence Day, I have decided to give you the top ten reasons owning your own new home can bring YOU Independence!

10. You can paint the walls any color your heart desires without worrying what the landlord will say!

9. When you build your own home you get to choose what kind of design features you want to have in your house to really reflect your style. Like cut burber carpet? Its yours! What about those beautiful granite countertops? Yep that’s an option too!

8. You have your very own backyard available to throw a perfect Independence Day BBQ. No small apartment decks. No asking your parents if you can use their place. Nope! It’s just you, a couple of your favorite people, a grill and YOUR back yard to enjoy!

7. When you rent a place your rent seems to climb and climb every year, not so with a fixed rate mortgage. You know what your payment is, not to mention you get tax benefits for owning a home. All this equals more reliability, more equity and financial FREEDOM!

6. You remember that cute little cuddly puppy in the window? You know the one with the waggly tail. Well you don’t have to worry about asking your landlord if you can have one. No pet deposit either. So I sure hope that puppies for sale!

5. Hang those pictures to your heart’s content. No longer do you need to worry about loosing your deposit because it’s your house and you can put pictures up if you want to!

4. With the new tax credits there has never been a better time to own a home! When else will someone give you $8000 to buy a home? With $8000 you have the FREEDOM to go on vacation!

3. When you buy a NEW home you usually get a home warranty, meaning if anything goes wrong, you are covered. You are now free to breath easy. ;)

2. Speaking of breathing easy… Many new homes use the newest technology and the best and “greenest” building materials. In fact Campbell Homes is a 100% Energy Star tested builder! Now you can feel comfortable knowing you are living green, not to mention saving a little green on your utility bills!

1. When you own a home its all about freedom. Freedom to decorate and design your home as you please. Freedom to have your own yard to play in and plant whatever flowers you want. Freedom to put big welcome mats out, BBQ on YOUR patio, throw parties without upsetting the people who live downstairs and to all around own a piece of the American Dream… I just love freedom!

Happy Independence Day everyone!

If you have any questions about the homes that Campbell Homes builds please feel free to contact me, Kelly Noble, at knoble@campbellhomes.com or check us out online at www.campbellhomes.com. You can also follow us on Twitter or Facebook for the most up to date information about Campbell Homes.

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Moving to Colorado Springs and don't know what to do for fun?

So you are thinking of moving to Colorado Springs and you don't know where to play?
I have lived in Colorado Springs, CO for over 12 years. I am a Colorado native and I am here to give you a couple tips about Colorado Springs, CO.
There is so much to do in Colorado Springs and the surrounding areas but here are a few of my personal favorites (in no particular order)

1. The Cheyenne Mountain Zoo: The Cheyenne Mountain Zoo offers an experience like no other zoo I have been to. Enjoy breathtaking views of Colorado Springs while feeding the Giraffes. Enjoy a ride on the sky lift or get some serious exercise hiking up the mountain all the while checking out the cool animals and even cooler views. This is a family friendly place but be sure to bring your walking shoes!
2. The Sky Sox: During baseball season there is no better way to spend a warm summer evening then at the security services field watching the local AAA baseball team and eating a yummy hot dog. Tuesday’s are the best time to go for us frugal spenders as everyone gets in for only $2. Sometimes if you are really lucky a Rockies player will be send down to play when they are recovering from an injury and they will sign autographs. Last year I got Matt Holiday and Tulo’s autographs!
3. First Thursdays at the Fine Arts Center: Every first Thursday of the month the Fine Arts Center downtown holds a wine tasting. Come enjoy wine, snacks, art and music at this event. I believe it is $25 each time but its always a great way to rub elbows with the Colorado Springs elite all the while enjoying a little culture.
4. Cave of the Winds: Every July in Colorado Springs temperatures start to peak and it can get steamy out! There is just no better place to be on one of those hot July days then exploring the caves at the Cave of the Winds.
5. Pikes Peak: I think it would be uncoloradian of me to not suggest a day trip to the top of Pikes Peak. There are 3 ways to get there: You can hike it up, you can drive up, or you can ride the cog railway up. I have only ever driven up because I like to stop and take pictures on the way. No matter how you go be sure to pack plenty of water (you WILL get sick if you don’t) and layers of clothes as it does get very chilly at the top. Oh and don’t forget the camera because you can see all that Colorado has to offer from the top and it’s a beautiful sight to see!
6. Territory Days in Old Colorado City: The Old Colorado City Merchant Association presents Territory Days 2009 to commemorate Old Colorado City as the first capitol of the Colorado Territory in 1861. Historic Old Colorado City has been celebrating “Territory Days” for 34 years. The very first event, in August 1975, was called “Rampart Range Sertoma Territory Days Parade and Buffalo Barbeque”. Territory Days has grown from a small neighborhood craft fair, parade and barbeque into a three-day street festival which now hosts over 180 craft, commercial and food booths. Between 80,000 and 140,000 guests, (depending on the weather), enjoy this event every Memorial weekend.
7. Garden of the Gods: camera? Check! Comfortable shoes? Check! Picnic packed? Check! Now that you are ready to go, head on over to see the Garden of the Gods. A fantastic place to walk around, picnic, sight see, and take phenomenal photos.

So those are just a few of my favorite local Colorado Springs play spots. Let me know if you have any questions and please feel free to leave your own Colorado Springs play ideas in the comments.
Also if you are thinking about moving to Colorado Springs and need a place to live check out Campbell Homes, a local Colorado Springs homebuilder since 1965 at www.campbellhomes.com.
Questions?
knoble@campbellhomes.com

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Spring time in the Rockies

Did anyone have to deal with the snow this morning? On my way to work this morning I couldn’t help but feel grateful for having a garage to keep my car in. The worst is when you have to stand out in the freezing wet air scrapping your windows trying NOT to be late to work! Well that’s spring time in the Rockies and nothing helps remedy this problem more then a nice cozy garage to put your car and all your toys in. Well Campbell Homes not only offers every home we sell with a standard (at least) 2 car garage but several of our homes have standard 3 car garages AND we offer homes with a RV garage and 4 car garage options! Visit us online at www.campbellhomes.com today to find out more, and get your car out of the cold.

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An Interesting video from CNN on Housing Prices

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So you are thinking of moving to Colorado Springs and you don’t know where to eat?

I have lived in Colorado Springs, CO for over 12 years. I am a Colorado native and I am here to give you a couple tips about Colorado Springs, CO.

First my favorite topic that I will be tackling: FOOD. There are so many fantastic places to eat in Colorado Springs, you just have to look. Here is my list of favorites based on type of dinning you will be doing:

Burgers: South Side Johnny’s (Lunch and Dinner) features some of the yummiest cheese burgers in town. His fries are not so bad either. Johnny’s is a biker bar with class. Great place to go for an afternoon burger or open faced turkey sandwich smothered in Green chili. www.southsidejohnnys.biz

Steaks: the Famous! (Lunch and Dinner) This is not jus a dinner it’s an event! Not exactly a cheap place to eat but the food is worth every bite. Fantastic cuts of meat, wonderful service and a large selection of wines and spirits at the bar! 31 N Tejon St, Colorado Springs, CO 80903

Local Brew: The Phantom Canyon. (lunch and dinner, brunch on Sundays) Serving up an eclectic menu of anything and everything like tacos, salads, roasts, and burgers. I highly recommend their side salad with everything since they have the best ranch dressing in town! Menu changes regularly so you will always experience something new! www.phantomcanyon.com

Mexican Food: El Taco Rey (Lunch)- Serving up some of the areas best Mexican dishes out of a little hole in the wall. Highly recommend the pork and avocado burritos smothered in green chili with plenty of salsa on top! SO GOOD you’ll wish you could fit 2 in your tummy! The only thing I can’t stand about this place is it’s not open on the weekends so I rarely have the time to travel downtown to eat there :*( 330 E Colorado Ave, Colorado Springs, CO 80903

Breakfast: The Olive Branch. Both healthy and affordable the Olive Branch off Tejon st in Downtown Colorado Springs offers something for everyone. Orange juice is fresh squeeze to order and the pancakes are awesome. The perfect place to take friends, family or clients for a cozy breakfast with a bit of class. http://www.theolivebranchrest.com/

Brunch: The Sunbird. What do you get when you mix crab legs with pancakes and Champaign mimosas? You get brunch honey and it’s good! The sunbird offers a brunch every weekend (reservations required) and does it at the top of a hill where the views are breath taking. Perfect place to take someone for a special occasion! http://www.thesunbird.com/

Thai: Bhan Thai. I LOVE Thai food and Bhan Thai does all the right things to make it work! Prices are right and dishes are delish! I love the Thai beef salad and the Tom Yum Guy soup. The Thai iced teas are also fantastic. Eat up but be warned they like it HOT! 1025 N Academy Blvd, Colorado Springs, CO 80909

NY style pizza: NYPD Pizza. Now the thing is my boyfriend is from NY and when he wants pizza you know it HAS TO BE NY Style so it has taken a LOT of tastings and research to find something that he likes. NYPD wins in Colorado Springs. Their pies are fantastic. I highly recommend the Sicilian because the crust is to die for! It has this fantastic garlic bread taste. Oh so good! 1588 Minnetonka Pl, Colorado Springs, CO 80915

Sushi: Im torn so I will put 2 of my favorites: Ai Sushi off cinema drive serves up fantastic sushi with tons of selection. They specialize in what I refer to as “fancy” rolls. I recommend the Chili Roll and the Avalanche II Roll. Their sashimi is also very tasty. 3215 Cinema Pt, Colorado Springs, CO 80922
Now my second choice is Fujuyama downtown. They have a wonderful selection of rolls from traditional to “fancy” rolls. The Oh My God Roll is very good so maybe try that. They also have a really great lunch special. http://fujiyamasushi.com/

Tea for 2 (or one): Montague's Parlour. If coffee is not your cup of tea then head on over to Montague’s for a delightful selection of teas and pastries. Cozy up to a book and enjoy the comfy couches and chairs. 1019 S Tejon St, Colorado Springs, CO 80903

Italian: Para Vicini's Italian Bistro. Absolutely nothing gets close to Para Vicini’s when it comes to Italian food in Colorado Springs. This local gem is a fantastic place for wine and pasta (and don’t forget the bing cherry cheesecake for dessert!). If you are one of those people that get stuck on one dish that is your favorite and just have a really hard time straying from that dish then you better not try the Veal Giuseppe because it is down right addictive! Get it with the house Chianti and you will have yourself one fantastic meal! http://www.paravicinis.com/

Deli (Italian): Mollica's Italian Market. Serisouly some good and authentic Italian food, meats, cheeses and sausages. I highly recommend the sausage and peppers sandwich! http://www.mollicas.com

BBQ: Bird Dog BBQ. Maybe because it’s close to my house. Maybe it’s the cute photos of Dogs everywhere or maybe it’s that they serve fried okra perfectly salted but whatever it is Bird Dog is a great place to get some Oklahoma style BBQ. The sauces are wonderfully yummy and the meat is tender! Don’t forget to bring a photo of your pup to contribute! http://www.birddogbbq.com/


Okay now that I have overwhelmed you with some of my favorite places to eat I will leave you so I can go get lunch. My pick for lunch? Did I mention The Taste of Philly for the best Philly cheese steak sandwiches in town?!?! www.tasteofphilly.biz

For more restaurant tips please feel free to leave a message and I will let you know what I think. For more about Colorado Springs please check on my blog again soon because I plan of doing a series of post on the best places to live, play, and watch what happens in Colorado Springs and surrounding areas.

And for more information about Campbell Homes, the company I work for please visit us online at www.campbellhomes.com.
Now tell me friends what’s your favorite food? And if you live in Colorado Springs where do you like to eat?

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Whats love got to do with it...tips for selling your home

Its not just a second hand emotion folks it’s the real deal which means when you go to sell your home you need to know how to emotionally grab your buyer (you know the people viewing the home and thinking about making it their own). Preserved value is everything and nothing helps build value more then emotional pull. So you wonder “How do I accomplish this?”

It’s easy:

#1 Make the right adjustments. This means when you are ready to sell your home think about what is worth updating and changing in your home to make it look better and be more valuable to a buyer. This could mean new carpet, new appliances or new (preferably neutral) paint. Think about the market value of your home and think about how you can increase the value without over pricing your home. Focus on kitchens and bathrooms.

#2 Clean it. Your home can not have any clutter. It needs to be tidy and clean. Bright and dust free. If you need to hire a cleaning person to freshen things up until it sells. I suggest getting a storage unit and start moving out the unnecessary things that clutter your rooms and closets.

#3 Stage it. A professionally staged home is proven to sell faster then a non-staged home. If you can’t afford a stager do your research and figure out the best way to set up each room to maximize its size and use.

#4 If there is one thing you can’t skimp out on when selling your home I would say it’s a REALTOR. A good realtor will advise you on how to stage, present, price right, update and list your home correctly. Your home will sit much less if you have a good Agent on your side. But buyer beware… research your Realtors success rate and make sure they are working for you not against you.

Now when a prospective buyer comes through your clean, nice smelling, clutter free and updated home they will feel at home. They will have an emotional feeling that this is it! And they will make an offer.

I hope this helps you at least a little bit when it comes to selling your old home. Now if you want further advise on how to find the right new home please feel free to contact me at knoble@campbellhomes.com and if you are in the Colorado Springs area feel free to stop into any of our communities and take a look. You can get more information about Campbell Homes at www.campbellhomes.com

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What does Home Mean to you? Let us know!

I want to know what home means to you! to participate simply send me a photo, short video, or a couple of sentences that explain what home means to you. I will be showcasing these clips in my blog
“What home means” and creating a montage of the meaning of home. Check out my photos for examples of what home means to me!
Send your clips to knoble@campbellhomes.com and let me know what Home Means to YOU!

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Q&A: Explaining Myth Versus Reality About Today’s Housing Market

Q: Given the uncertainty in the financial markets and economy, is this a good time to buy?

A: The answer is simple: Yes. It’s a good time to buy. Today’s market, coupled with a generous temporary tax credit for first-time home buyers and near-record low mortgage interest rates, provides an unprecedented window of opportunity for prospective home buyers. An outstanding selection is another reason that it’s a great time to buy. Available inventory is probably the best it will ever be, providing buyers with a great choice of homes. Many builders have inventory that is “move-in ready,” and they may offer upgrades or other incentives to seal the deal. Likewise, owners of existing homes who are looking to trade-up or relocate are ready to bargain. Add it all up and there may never be another buyer’s market as good as today’s.


Q: There doesn’t seem to be an end in sight to the housing slump. By the time the market hits bottom, won’t housing be down and out for the count?

A: Without trying to minimize the problems we have today, it’s important to keep your eye on the big picture. Over the long-term, the U.S. is definitely on a growth path. Our population will rise by about 35 million over the next 10 years. All of those people will need someplace to live. Consider these facts: America currently has about 105 million occupied housing units. About 70 million of those are owner-occupied. The other 35 million are rental units. Total equity (value of homes minus any mortgage debt) amounts to $8.5 trillion. More than one-third of all home owners own their home outright, with no mortgage debt. And more than 90 percent of those who have mortgages are making their payments on time every month.

Home values will ultimately bottom out and start edging back up. Once we turn the corner on the housing downturn, the longer term outlook is very promising.
As a long-term investment, homeownership remains a solid investment for individual households, with a track record that can compete with any other purchase in terms of its real benefits. The home building industry will need to construct more than 17 million new homes in the next decade to keep up with expected new household formations.
All of this bodes well for future house price appreciation


Q: Does the government action to rescue Fannie Mae and Freddie Mac in September signal that the mortgage market is in a free fall? In other words, does the government takeover of these two mortgage finance giants mean that mortgage money has dried up?

A: The short answer to both questions is no. Quite the contrary, the federal takeover was initiated to avert any serious risk to the financial system and to keep money available for mortgages. It’s still business as usual for Fannie Mae and Freddie Mac. There is no credit crunch for qualified buyers taking out conventional loans. Remember, the housing law enacted this summer has permanently boosted the limit for these loans from $417,000 to $625,500. And this is where the bulk of all home loans are made. Credit-worthy home buyers should have no problems finding conventional, conforming mortgages at very attractive rates. In fact, today’s mortgage rates remain near historic lows, well below 6 percent for fixed-rate, 30-year loans.


Q: With the nation in a foreclosure crisis, why should I be looking for a new home?

A: While foreclosure rates have increased in the past year, the vast majority of American home owners are making their mortgage payments on time. More than 95 percent of prime borrowers – the bulk of the mortgage market – are up-to-date on their payments. Most foreclosures are concentrated in the once super-heated markets in California, Florida, Arizona and Nevada and the upper Midwest states of Michigan, Ohio, Minnesota and Illinois, which have been hit hard by job losses, plant closings and depressed local economies.

But again, we need to put this problem into perspective. As noted above, California and Florida are at the epicenter of this problem. California and Florida had about 54 percent and 41 percent of the prime and subprime ARM foreclosure starts in the third quarter of 2008, respectively, according to the latest foreclosure data from the Mortgage Bankers Association.

There’s no question that the foreclosure issue is a major problem that needs to be addressed. That is why we are encouraging lawmakers to include aggressive foreclosure relief measures in the economic stimulus package that the new Congress is expected to pass in January.

Q: In today’s housing environment, isn’t the smart move to keep waiting for prices to fall even further before venturing into the housing market?

A: The current housing price correction is helping to restore affordability. In many parts of the country where the housing boom was not as strong, price declines have been modest. The bottom line for most existing home owners is that their homes will be worth significantly more than they paid for them once the market begins to recover – a process that is expected to begin in 2009. The repercussion for prospective buyers is that the market has provided some breathing room from the sky-high prices prevailing between 2003 and 2006. And those who try to “time the market” in hopes of buying at the trough are likely to lose out. Here’s why. Just as no one can accurately predict the peaks and valleys of the stock market, the same holds true for housing. Fence-sitters waiting for the absolute best deal could end up literally waiting for years, and most likely their guess on market timing would be wrong. Meanwhile, those who buy now will have a home they can call their own and reap the long-term gains of home price appreciation.

Q: It seems that home prices will just keep going lower and never recover. What’s to stop this from happening?

A: It is a virtual given that over time home values will stabilize and then edge upward with the next recovery. To argue that home values will continue to decline and will never recover, somebody has to make a convincing argument that it will cost less to build a new home five years from now than it does today. That’s not going to happen.

Despite today’s housing slowdown, the price of most building materials used in home construction continue to go up due to worldwide demand and upward pressure on commodity prices generally. Also, over time labor costs are expected to rise. Look at anticipated population and household growth; consider the increasing scarcity of available land in metro markets where jobs are located and where people want to live. And the cost of getting land entitled will continue to go up because of more and more restrictions and fees being added by local governments. As inventories wind down, demand will rise and so will prices. Over time, all these factors will help drive up the cost of housing.


Q: The S&P/Case-Shiller monthly home price index showed that home prices declined an average of 17.4 percent in the nation’s 20 largest markets between September 2007 and September 2008. Does this mean that home prices in these markets -- and nationwide -- are in a major tailspin?

A: Different economic and job-market conditions directly affect demand for new and existing homes in every market Part of the problem is due to an influx of speculators in some large markets who helped drive prices up to unsustainable levels. For example, all the markets that posted the largest average decline in home prices during the past year – Las Vegas, Los Angeles, Miami, Phoenix, San Diego, San Francisco and Tampa – still have appreciated in value by at least 40 percent since January 2000, according to the latest S&P/Case-Shiller home price statistics. Four of these markets – San Diego, Tampa, Miami and Los Angeles – were up between 64 and 85 percent over this period.

It makes sense that the most super-heated housing markets in California, Nevada, Arizona and Florida are now experiencing the most serious market corrections. Areas in the Midwest are also undergoing price corrections due to stagnant economic conditions. For the rest of the country, however, the price adjustments have been relatively modest.
Though housing is a cyclical business, experience shows that over time, home prices will stabilize and then move upward with the next recovery.

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Time is of the essence

Consumers should be shouting off the rooftops about the fantastic deals they are being offered in both housing and mortgage rates. Mortgage rates have dropped to the lowest level since the 1970s. Housing prices are the lowest they have been in years, affordability is available and offered. So why are so many consumer waiting? I believe many consumers are waiting to see what will happen. They want the best deal possible so they are on the fence waiting for rates to drop even lower and home deals to get even better. But sadly they may be missing out on something that will not last much longer.

According to a recent poll done by local real estate industry professionals asking when they think the market will start to recover (meaning the sellers will once again get the upper hand) 25% said mid 2009, 25% said late 2009, and 37% said late 2010. If these predictions hold true we could see a shift in the next year towards stabilization of home prices and mortgage rates. This means that sellers will no longer give away the firestorm deals and incentives they have in the past 2 years and it is likely that with this stabilization the Fed will bring the interest rates back to a normal level we have seen in recent years rather then the under 6% range we see now.

So like any other investment there is risk and in a market like this the risk is much lower for buyers then it is for sellers. The deals are out there but many consumers might have noticed that less and less builders are giving away their homes and re-sale sellers are taking their homes off the market until the prices stabilize. The time is now; buy now or you might loose money later.

Buyers are seeing that there are a lot of great resale deals or perhaps hearing about all the quick sale/ foreclosures that are out there. Yes quick sales are up meaning that the amount of distressed properties are up. Many people are struggling to make their house payments because of all the crazy loans they were put into are now adjusting. This is both bad and good. The bad news is we never want to see this many people struggling with their payment, this is bad for both them, the banks, and the community. However President Obama has pledged that between $50billion and $100billion will be used to help boost efforts in combating the increasing mortgage foreclosures. The good thing is that an increase in Foreclosed sales and closes in the area means the inventory will soon be going down. The idea is the more inventories we wash out the more stable the market will be.

There is a pent up demand for homes out there and anytime now consumers will realize that now is not only the time to buy but the BEST time to buy. So as the title of this blog suggest, time is of the essence. Buy now or soon or else you could miss out or find yourself purchasing your home with a higher interest rate and a higher price.

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ANSWERS TO COMMON HOME BUYING QUESTIONS

Q: Shouldn’t I wait until home prices go even lower to buy?

A: No. Just as no one can accurately predict the peaks and valleys of the stock market (name one person who sold their tech portfolio in April of 2000), the same holds true for housing. If you wait for what you think is the absolute best deal, you could end up waiting for years. All the market fundamentals show that now is a good time to buy – prices are down, interest rates near historically low levels, and there are lots of homes to choose from.

If you buy now, you will not only be in the driver’s seat during the buying process, you will also reap the gains of price appreciation. Remember, those who purchased homes in the early 1990s during the last big economic and housing downturn came out as big winners.

Q: Doesn’t it make sense to wait out the market until can I get the same price on my home that my neighbor got when he sold a year ago?

A: No. It’s always better to trade up in a buyer’s market. While the value of your house has fallen, the prices of higher-end homes have also dropped. Here’s an example:

Your neighbor sold for $300,000. Let’s say values in your area have dropped 10 percent, so you could get only $270,000 for your home today. You have your eye on a move-up home that previously sold for $500,000, but now is selling for $450,000. If you sold your home today for $270,000 and purchased the larger house for $450,000, the difference in price would be $180,000.

But if you waited to recoup the 10 percent value on your home and sold it at $300,000, chances are the move-up home would also increase in price 10 percent to $500,000. That’s a $200,000 price difference. So by selling today, you would actually save $20,000.

Q: Interest rates keep going down. Shouldn’t I wait until they go even lower before I buy a home?

A: Interest rates for 30-year, fixed-rate mortgages are currently around 6 percent and are extremely favorable for buyers. In fact, they are hovering near 30-year lows. But waiting to time the market is a dangerous game. Even those who follow the market for a living can’t figure out when interest rates will bottom out. If they could, they would all be multi-millionaires.

And home prices don’t necessarily move in unison with interest rates. So, if you decided to wait to purchase a home and the price dropped $10,000 from where it is today, you could still end up losing money. How? If interest rates were to move up by a half-a-point during this period, the savings on the reduced home price would be more than offset by the higher monthly payment you would be making over the life of the loan.

Q: I have $10,000 to invest. Should I put that money in the stock market or buy a home?

A: Purchasing a home is by far the best long-term investment. For example, say you use that $10,000 to purchase a $250,000 home, and the house appreciates a modest 3 percent during the first year. That means after one year, the house would be worth $257,500 – a gain of $7,500. By contrast, putting the same $10,000 in the stock market and posting a similar 5 percent gain would only net a $500 return on investment.

And don’t forget the tax incentives. In most instances, all of the mortgage interest and property taxes you pay in a given year can be fully deducted from your gross income to reduce your taxable income. These deductions can result in thousands of dollars of tax savings, especially in the early years of the mortgage when interest makes up most of the payment.

Q: I’m a first-time buyer and still can’t afford the type of home that I want. Is it best to wait, keep renting, and hope that prices will get even lower?

A: If you continue to wait, you may never be able to afford to get into the housing market. Even as home prices are currently moderating or falling, depending on where you live, rents continue to climb. When you buy a home, you are also purchasing price stability, knowing that you will pay the same monthly payment for the life of your 30-year, fixed-rate mortgage.

Once you become a home owner, you are able to take advantage of the tax deductions that homeownership offers, and you begin to build equity in your property.

With so many homes on the market to choose from, your best strategy may be to scale back expectations for your dream starter-home. After a few years, you can use those equity gains to sell your starter home and move into a bigger house. The sooner you make the jump from renter to home owner, the quicker you begin to create and build up wealth for your family.

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The President of the United States has signed a bill into law that will give many home shoppers the extra push they need to get off the fence and into a home of their own. If you are a first-time home buyer, you should definitely investigate the possibilities.

The Housing and Economic Recovery Act of 2008 provides a tax credit of up to $7,500 if you buy a home. A new Web site, www.FederalHousingTaxCredit.com, explains how this important incentive works. Here are the provisions in a nutshell:

• Qualifications. The tax credit is available for first-time home buyers, which under the Act also includes people who have not owned a home for at least three years.
• Income limits. The credit can be as much as $7,500 but is decreased depending on how much money the potential home buyer makes. To receive the full tax credit amount the income limits are $75,000 a year for single tax payers and $150,000 for married taxpayers filing joint returns. For partial credit the upper limit is $95,000 and $170,000 respectively.
• Time limits. To qualify, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs – the date when title transfers.
• The way credits work. Qualified home buyers claim the credit when they file their income tax return – no additional application or certification is required. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. A taxpayer who owes $7,500 in income taxes and who receives a $7,500 tax credit would owe nothing to the IRS.
• Payback. You can look at this tax credit as an interest free loan with up to 15 years to pay it back. For example, a home buyer claiming the full $7,500 credit would repay the loan at a rate of $500 a year. There are exceptions, of course, but all that is explained on the Web site.

Www.federalhousingtaxcredit.com also includes links to the resources you need to help make buying a home easier, including information on the home buying process, financing and new home listings.

Homeownership has always been the cornerstone of the American dream, and it remains the best way for a family to build wealth over the long term. The Housing and Economic Recovery Act of 2008 is also designed to help struggling home owners avoid foreclosure and keep their homes and provide a boost to the housing market and economy overall.

The new legislation combined with current market conditions gives home buyers the opportunity of a lifetime to get into the home of their dreams. Interest rates are still at near-historic lows, and due to the housing downturn, there is a large selection of homes on the market to choose from, and prices are more competitive than they have been in years.

But this opportunity won’t be around forever.

Remember that you need to purchase and settle on your new home before July 1, 2009. As homes currently on the market sell, there won’t be a lot to choose from for the next couple of years. And as fuel and material costs and demand for homes goes up, so will prices.

More than two and half million home owners and home buyers will benefit from Housing and Economic Recovery Act of 2008. To find out if it can help you, visit www.FederalHousingTaxCredit.com today. Learn about home buying opportunities in Colorado Springs by visiting our website at www.campbellhomes.com

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Interview with a top Realtor in Colorado Springs

There is a lot of negative media out there that talks about how bad the real estate market is. Is it as bad as they are saying?

The market is not bad at all. If someone on your weather channel told you it was going to be cold and rainy all across the USA today would you believe them? Of course not. It is the same for our economic situation. You cannot talk about the whole country. We are huge and different areas of the country have been affected differently than from other areas. We have been very blessed here in Colorado. We have had a slight correction to the market of approximately 3-5% depending on what area of town you are in. My little company of 40 agents sold over 30 million dollars in homes in the month of May. Does that sound like a bad market? I don’t think so.

What are the advantages of buying a home in a “buyers market” like we are seeing now?

It is a wonderful time to buy. There is a bountiful selection of homes both resell and new to choose from. Interest rates are staying right around 6% or less. This is an amazing interest rate. Sellers and Builders both are being creative and giving some wonderful incentives. I would encourage anyone, that this is a perfect time to take that step forward.


BJ you have a long history working in Real Estate. In your experience how long does a down market last and when do you think we will see a shift in the current real estate market?

We have down markets just about every 7 years. It usually takes over a year to reach its lowest level but bounces back quite quickly. This is what I see happening right now. The market is turning and going back up and FAST.


What is one of the number one things you see/hear families are looking for when buying a new or resale home?

What most families are looking for in a new home is a good location with good schools and a livable floor plan. Most of the families I work with are wanting more open floor plans, lots of windows for light, and a decent size yard but not too big. With the cost of watering and taking care of big yards, they are more of a disadvantage. Most families would prefer to live close to a park or community open space for the kids to throw the ball around.


What are some of the advantages of using a professional real estate agent like yourself?

Using a real estate agent is smart. It does not cost the buyer one extra penny to use an agent. The builder or seller pays for the buyer to have one. It is wonderful to have someone look out for your best interest. It is especially good to have one that has many years of experience and knows what to look out for. Buying a home is the biggest #1 investment you will make in your life. You need someone experienced and someone knowledgeable to help you with that important decision.

Are there any other insights you would like to add about the current real estate market or about buyer’s attitudes today?

Don’t believe everything you read or hear in the media. Unfortunately “bad” news sells and good news doesn’t. Would someone please explain that one to me? The last thing I would like to say is, we live in one of the most beautiful places in the entire world. Why not own a piece of it. You will never regret it.



BJ Burns has been practicing real estate in the Pikes Peak region for over 23 years. Through her dedication to serving her families BJ has built a reputation of integrity. BJ currently offices with The Platinum Group of Realtors. For more information about BJ Burns please visit her online at www.bjburnsteam.com or you can contact her at 719.536.4301.

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The Truth is Out About the Housing Market!

The media has been reporting for sometime that the housing market is bad and that now is not a good time to buy a new home. I beg to differ. With interest rates at an all time low and the supply of new homes starting to decline it’s only a matter of time when supply and demand take effect and prices will start to climb again. It’s a known fact that when demand is high and supply is low prices rise. Therefore NOW is the best time to purchase a new home since prices are reasonable and stable, and there is still enough supply of homes to suffice for the demand that we are starting to see. The following is a fantastic article from REALTY TIMES covering this very topic.

Columnist: 'Media Is Wrong About Housing Slump'

Realty Times feature article by Blanche Evans

Why buy a house now? You've been getting bad information. Here's why.
The financial press is worried that they might have gone too far - paralyzing the nation into recession by piling on housing. So they're finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but surely, headlines are changing from Don't Buy a Home Now to Is It Time To Buy?

We said it here first on Realty Times - that consumers aren't getting the full story. Indexes can be misleading because of the locations, prices, types of housing, and rates of increase they track.

In late April, Robert Shiller, founder of the Case-Shiller Index, announced that there was a good chance housing prices would fall further than the 30 percent drop during the Great Depression.

Shiller has plenty of reason to be negative - he makes money when people buy housing hedge funds, licensed with data obtained through his company Macromarkets LLC.
Now, finally, one brave journalist is writing that Case-Shiller is flawed.

In his story "Home-price data has its flaws," Chris Plummer of MarketWatch slammed both Shiller's Index and the Associated Press for being "grim reapers."
For the first time, S&P Index Committee Chairman David Blitzer "acknowledged his organization's overall and metro-market readings paint an incomplete picture."
No kidding. The index covers only 20 markets, heavily weighted to the most volatile metros in the nation.

Plummer also lampooned the AP for writing that "despite that index's limited seven-year history, home prices plunged by a record percentage at their fastest rate ever."
He also notes, "The glaring discrepancy in this case is that 17 of the 20 metro areas posted record annual declines, and yet 78 percent of the 330 metropolitan regions that the NAR tracks reported price increases ... "

Bravo, Plummer. But the rest of the financial press still has a long way to go.
When Shiller says home prices are going to fall 30 percent, not one reporter who covered the story asked this simple follow-up question: "Bob, during the worst part of the Great Depression, one in four people were out of work. Our unemployment rate is a little over 5 percent. So what's going to drive home prices that low?"
Instead, no one did even the minimum Wikipedia search to find out what conditions were really like 75 years ago.

What that means is not only are the indexes misleading - the reporting is worse.
Right now we have mortgage interest rates three points below historical norms. We have housing inventories five months greater than balanced markets. Combine that with unemployment that is a half percent lower than the recession of 2003, and you have excellent homebuying conditions.

Stop listening to the media. Go buy a home.

Copyright © 2008 RE/MAX International Inc. 5/6/08

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Buying a New Home In Today's Market

There are many steps you need to take when buying a home but many Americans fail to realize that homeownership is actually more attainable then they might thing.

Top 5 steps of buying a new home.

Figure out how much you can afford.
When if come to buying a home it’s not a guessing game it’s a numbers game. How much you can afford is based on income, credit, currently expenses and the interest rate. Most people use a online mortgage calculator to figure this out but those numbers really do not drive into the issues of credit, expenses, income, or what mortgage plan you will qualify for. The best way to figure this out is by talking to a mortgage professional. If you are in Colorado Springs or plan on buying a new or used home in Colorado Springs I would recommend you call Donnie at Peoples mortgage.

Examine your needs
You really need to think about what you need in a new home or new neighborhood. If you are retiring and this is the last home you will live in then you might want to consider a ranch floorplan. If you have school aged children then researching the schools and looking into neighborhood parks and recreation might be important. Knowing your priorities before you shop will make it a lot easier to narrow down your search for a new home.

Decide on if you want to uses a REALTOR on go it alone.
If you are new to a town or think you will be wanting to look at ALL your options, a REALTOR is a great friend to have. Real Estate Agents know the areas inside and out. They know prices, neighborhoods, schools and usually are great at matching families up with communites that just fit. But be aware that not all REALTORS are made for your needs so makes sure you pick one you are comfortable with, and that represents you well before you sign any agreements. If you are buying a new home in Colorado Springs I would be happy to point you in the direction of some of the BEST Real Estate Agents in town.

Shop
Now for the fun part! Shopping for a new home can me tons of fun but if you don’t have an idea of what you are looking for before you start you can get burned out pretty quickly. Will you buy new or used? What side of town, what time of floorplan? It can be taxing but again if you do your homework before hand you could find your perfect match in a few days. In Colorado Springs there are several homebuilders and even more resale homes so have a game plan and get out there and have fun!! Oh most new home builders offer cookies in their models (just a hint). Feel free to read my blog about the advantages of buying new.

Buy
Okay it might not be all that simple but when you find that home that fits most of your wants and all of your must haves then you need to make an offer and sign the paperwork which will put you in the fast lane to ownership! YEA! You are almost done and yet the steps that follow the purchase agreement are the most stressful sometimes because you have to do a lot with mortgage people and paperwork. But I promise when its all said and done you will be so happy you got through it all because there is nothing better than sitting down in your new house and knowing this is all yours!!

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House Huggers!

Keeping with my recent theme of built green I would like to show you how Campbell Homes has done their part in helping the environment by building Energy Star and Built Green Colorado Homes. Last year (2007) Campbell Homes built 53 homes all of which were certified by Energy Star! This is equivalent to:

· Eliminating the emissions from 37.10 vehicles
· Saving 20,352 lbs of coal
· Planting 5.30 acres of trees
· Saving homeowners $23,691 on their utility bills

Because of their contribution to helping build better energy efficient and environmentally friendly homes Campbell Homes was recently awarded the
ENERGY STAR for Homes Leadership in Housing Award!

Campbell Homes is proud to be a house hugger!

For more information about how you can become a Campbell Homes’ House Hugger visit us online at www.campbellhomes.com or call Kelly Noble at 719-266-9780 or email her at knoble@campbellhomes.com

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below is a fantastic article about green building that I found in Newsweek:
http://www.newsweek.com/id/120128


Not Just for Tree Huggers
Despite the free fall in housing prices nationwide, green homes are still red hot.
Daniel McGinn
NEWSWEEK

Updated: 12:35 PM ET Mar 8, 2008
Rob Moody didn't set out to be a builder. After graduating from college with a biology major, he began work as an environmental-science teacher in Asheville, N.C. On weekends, though, he spent long hours fixing up the classic shingle-style home his family had owned for nearly a century. Then, after seven years in cinder-block classrooms, he decided to make a change. "My love for old houses fell together with my love for the environment," says Moody, 34, who launched The EcoBuilders to construct environmentally friendly houses. Today Moody's foremen drive pickup trucks that run on used grease from fast-food fryers. And whether he's building new homes or renovating old ones, he insulates them to the hilt, uses sustainable materials and recycles so much debris that he requires only the smallest Dumpsters. Clients love the approach. "We doubled production last year, and we'll probably double again this year," Moody says.
The predominant color in the building industry right now is red, not green. America's housing markets remain in free fall, as the foreclosure crisis continues and more homeowners discover their mortgage debt exceeds the value of their house. Last year the average home builder laid off a quarter of its employees; this year the industry estimates it will sell just 632,000 new homes, its lowest total since 1992. But amid this gloom, there's buzz about consumers' shifting demand toward "green homes"—and how builders with this expertise remain busy despite the bust. In a 2007 survey by the National Association of Home Builders, home buyers said they'd be willing to spend an additional $8,964 on a home if it could cut their utility bills. Throughout the industry, there's a sense that consumers have finally reached a tipping point. "It's taken almost as a fait accompli, that green building is where the market is headed," says Michelle Moore, senior vice president at the U.S. Green Building Council.
For all the professed consumer interest, though, the average home buyer knows little about green building. That's partly because it's a broad concept with several components. The most obvious attribute is energy efficiency. For some buyers, that means investing big money in fancy geothermal or solar technologies—but more often it simply means being diligent about using good insulation, efficient appliances, superior windows and designing the house to take advantage of the sun. Green houses also conserve water, often by using specialized plumbing fixtures. For some builders, going green also means limiting waste, sometimes by using "panelized," factory-built walls or recycling wood from older homes. Inside, green homes often feature sustainable materials, like countertops made from recycled glass.
For a public tired of stories about the latest health scare, green homes have another allure: they're often healthier. Since these homes are built more tightly than drafty older homes, many builders install systems to bring in—and filter—fresh air. Green builders typically use paints that are low in volatile organic compounds, and avoid the carpeting, adhesives and varnishes that often give new homes their distinctive smell—and that have been associated with health problems. When George and Dorrie Sieburg hired Moody to remodel their Asheville bungalow in 2005, this approach was a big selling point. "At the time, we were pregnant, and we wanted to build as green as we could to make sure it was safe for our child," says George, whose wife is expecting again.
As with many innovations, some of the biggest gains in efficiency come from using old-school materials that have been slow to catch on. Consider spray-on foam insulation, which fills and seals wall cavities better than the fiber glass used in most residential construction—but at twice the cost. As energy costs rise, however, more buyers are opting for it: sales of Icynene, the leading brand, grew 22 percent annually the past three years. When Jacob and Alecia Sessums added a master suite to their Asheville home, they opted for foam insulation, a multizone heating system and a superefficient tankless hot-water heater. As a result, their gas bill dropped from a high of $400 a month to $37. Says Alecia, 32: "For people in my generation, [going green] is the way you have to do it—there's not a choice."
For darker shades of green, homeowners typically take more-radical action. In Grapevine, Texas, the home Ross and Tami Bannister moved into last fall is so tight, "it's built kind of like an ice chest," says Ross, who marvels at how infrequently the heat kicks on even on the coldest days. While their house is filled with sustainable products, its most innovative functions involve water. Out back lies a 10,000-gallon tank that collects rainwater from their roof; the water is filtered and routed inside for household use. On the roof, solar panels heat their water. Ross says people are sometimes surprised to hear about the home's advanced technology, since it's hidden beneath the bones of a classic Texas farmhouse. "It wasn't like we built some sort of George Jetson-looking future house," Ross says. That's partly why their custom builder, Chris Miles of GreenCraft Builders, fields five calls a week from prospective buyers.
The biggest energy-savers can still require big investments. A photovoltaic solar system, which generates a home's electricity from the sun, can cost $40,000. Likewise, a geothermal system—which uses pipes to send water underground, where the heat stored by the earth's subsurface is converted into energy to heat and cool the home—has long been a budget buster. But as energy costs rise, the return on investment does, too. Last fall, when Shirey Contracting remodeled Sean and Lynn Dillon's home in North Bend, Wash., the couple spent $34,000 on a geothermal system. That's more than twice the cost of an ordinary heating and cooling system, but Sean figures it will pay for itself in six years. Along the way, they'll feel good about reducing their carbon footprint.
Builders are working hard to educate consumers about why such expenses can be worthwhile—and why a lot of green innovations can be done for relatively little money. New kinds of certifications will also help consumers understand the paybacks. In December, the U.S. Green Building Council began offering LEED certification (it stands for Leadership in Energy and Environmental Design) for homes; last month the National Association of Home Builders announced plans for its own green certification. Both use point systems that tally up a new home's earth-friendly attributes and award different levels of certification. In theory, a certified home will be easier to resell down the line, but green-building advocates also hope that the new yardsticks will make consumers pay more attention, the same way Consumer Reports and J.D. Power and Associates rankings became big influences on car shoppers a generation ago. Says home-building consultant Sara Lamia: "People will see how the house they're living in is costing them money, and it gives consumers a reason to buy a new home."
At times such chatter about how a shift toward green building might lift this moribund industry sounds like so much wishful thinking. So far most of the biggest builders are experimenting with only the most basic green innovations (like using Energy Star appliances); most of the greenest builders do only a tiny number of custom homes. "The smaller you are, the more your numbers might mislead you to thinking this is what matters," says Ivy Zelman, an industry researcher. Some environmentalists apparently believe builders are putting green labels on homes that aren't really environmentally friendly—an attitude that appears to have motivated arsonists who torched a neighborhood of newly built trophy homes outside Seattle last week, leaving signs saying BUILT GREEN? NOPE BLACK!
It's also apparent that some green innovations are used side by side with products that aren't so earth-friendly. At the International Builders Show in Orlando last month, the plumbing company Kohler showed off ecominded low-flow shower heads and bathroom faucets—but across its booth, it also displayed gigantic water-hogging showers and whirlpool tubs nearly large enough to hold residents of Sea World. Likewise, if you build a green home in the exurbs but still drive an hour to work, has your carbon footprint really decreased? These are questions Danielle and John Arnett have considered. Next month they'll break ground on a 4,600-square-foot home in Colleyville, Texas. They hope to include loads of green technologies—perhaps even solar panels and a wind turbine—but they're still building a house that's nearly twice the size of the average newly built U.S. home. They admit a smaller house would be greener, but in their neighborhood, where nearby homes range from 6,500 to 12,000 square feet, they say their new house will be downright cozy. "It sounds crazy … but it's really, really relative," says Danielle, who notes they reduced bedroom sizes in an attempt to downsize the design.
If there is a downside to this trend, it may be the growing number of green homeowners who'll brag about low utility bills the way golfers boast of low golf scores. But for builder Rob Moody, whatever motivates people to desire better-built homes, he's not complaining. "People know it's good for their pocketbook, they know it's good for the environment, and they like the badge," says Moody, who was in New Orleans last week working with ABC's "Extreme Makeover: Home Edition" on an earth-friendly project. Green homes may not spark the building industry's recovery, but in a world whose energy problems aren't going away, they certainly can't hurt.


URL: http://www.newsweek.com/id/120128
© 2008

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Home builders going 'green'

This is an article I found online at http://www.kvue.com/news/state/stories/032608kvuebuildgreen-cb.bb053c.html#

Please enjoy!

Home builders going 'green'
10:39 AM CDT on Wednesday, March 26, 2008
By JEFF BRADY / WFAA-TV
DALLAS — According to a recent survey by the National Association of Homebuilders, buyers said they would pay an additional $8,900 for a certified "green" home.
But are "green" homes really selling better? We found it depends on the builder, the buyer and the neighborhood.
Better insulation is one factor that makes a "green" house "green." In one house we found, recycled newspaper does the job.
Elizabeth Newman has been building homes in Dallas for 18 years. Just last year, she went all "green."
"Before I started building 'green,' I had people asking about building green," Newman said.
So what does it take to get a "Green Built" label in North Texas? Upgrades in waste reduction (or saving trees), water efficiency, indoor air quality, energy efficiency, using recycled materials, and educating the homeowner are all factors.
The downside? Prices on "green" homes are $10,000 to $28,000 more than similar models.
One we found is priced at about $750,000. Newman sold it the same day we were visiting . But some Dallas Realtors aren't yet seeing homebuyers clamor for energy efficient models.
"I just don't have a customer base that is demanding that they want a 'green' home. Nor will they pay any more for it," said Realtor Tom Rhodes. "They'd much rather have high tech homes with all the wireless, and studies, and that kind of thing."
Still, other agents say certain neighborhoods and buyers expect it. The more custom-built the home, the more likely the buyer is to expect a shade of "green."
"They will reap the benefits from the electric bill, the tankless water heater, xeroscape, that kind of stuff," Realtor Margaret O'Brien said. "So I really think that even though the price point might be a little more, you could definitely sell it — and I think there's a market for it."
The Green Built certification is so new that there are no numbers available to indicate how many are being built. The more familiar Energy Sar rating is the next best thing, and about 40 percent of all new homes in Texas last year earned that rating.
E-mail jbrady@wfaa.com

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