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.
