Everyday day
we are bombarded by the media stories about the housing and mortgage
industries. Unfortunately they focus on the bad news and make it
sound like it is a Nationwide problem. But, this is not true! Here
in Colorado Springs we have a stable market. We have never had the
crazy price appreciation that has occurred elsewhere.
The
El Paso County Median Price is up in 2007
The El Paso
County median price is up 2.5% over last year.
In August the
average price was up 3.2% over August of 2006.
Foreclosures
in El Paso County are lower than the state average. El Paso
foreclosures are only at .81% and this compares to 3.1% in 1989.
Part of the reason is that sub-prime mortgages only account for 14%.
There are a
number of areas in Colorado Springs where homes are appreciating at
above average rates and inventories are low. This includes Monument
and Black Forest.
