SINGLE FAMILY

All of the 94 Single Family Sold were single family homes, no townhomes or condos.

Residential homes sold 4th quarter by price:

16 < $100K
37 between $100-150K
24 between $150-200K
10 between $200-250K
7 over $250K

Residential homes sold 4th quarter by Pueblo West MLS location:

[To describe the Multiple List Service area breakdown, Pueblo West Acreage includes those lots on one acre (+) on the south side of Highway 50, not including the Golf Course area (which has smaller lot sizes and is on the sewer system), Liberty Point (the areas adjacent to Pueblo Lake boundaries) or Pueblo West East (generally areas east of the first McCulloch with smaller lot sizes and on the sewer system). There are two designated manufactured home park areas which are on smaller lots, one on the north side and one on the south side of Highway 50.]

20 – Pueblo West Acreage
24 – Pueblo West East
12 – Pueblo West Golf Course
2 – Pueblo West Liberty Point
8 – Pueblo West Manufactured Homes
28 – Pueblo West N of Highway 50

Home sales in Pueblo West remained steady trended slightly downward this quarter.  82% of the homes sold in Pueblo West this quarter were under $200K showing affordability for buyers but unfortunately long wait times for sellers with prices over $200K.  Of the 209 active listings 121 are under $200K and 88 are $200K or over.  Based on this supply information coupled with the sales information, it is still a buyer’s market if your house is priced above $200K.  This will drive prices up on the lower end and hopefully push more people into the over-$200K range.  Of the 56 residential properties pending sale, 9 are awaiting short sale approval from lender, indicating that Pueblo West is still dealing with distressed properties.

I wanted to add this additional information about the financing options for the homes that have sold this quarter:

29 – Conventional financing
34 – FHA
13 – VA
16 – Cash
2 – Owner carry

More than 50% of the buyers are using government backed financing (FHA & VA).  Government backed loans require little (3.5% for FHA) or no (VA financing) money down and allow a buyer to get into a property without a large down payment.  When a buyer uses a government financing option, the seller is required, by law, to pay for some of the buyer’s costs.  However, this amount is minimal.  I’m seeing a lot of listings in Pueblo West that don’t include the availability of VA/FHA financing options.  This tells me a couple of things:  either the property has issues that a VA/FHA appraiser will find objectionable (e.g., broken/cracked windows, peeling paint, missing stair rails) and the seller doesn’t want to (or can’t) fix the issues; the property was previously listed as VA, an offer was received but the VA appraiser appraised the property lower than the seller wanted killing the deal (a VA appraisal stays with the house for 6 months); or the seller hasn’t been advised by their agent of the higher percentage of buyers using government-backed financing.  So for sellers, my advice is to make sure your house is offered out to VA/FHA buyers to increase your chance of a sale.

Interest rates are at an incredible all time low.  The interest rate on my last closing was 3.75% on a VA loan for a first-time homebuyer.  On top of that, the lender paid some of the buyer’s closing costs!  If you are in a position to buy a home, this is just an incredible time to do it!

MULTI-FAMILY

Three multi-family homes sold this quarter.  If you can get a loan (or are able to pay cash), it’s still a great time to purchase investment properties although the number of multi-family homes on the market has dropped.

VACANT LOTS

Vacant lots sold 4th quarter by Pueblo West MLS location:

5 Pueblo West Acreage
3 Pueblo West East
0 Pueblo West Golf Course
1 Pueblo West Liberty Point
1 Pueblo West Manufactured Homes
2 Pueblo West N of Highway 50

Lot sales continue to reflect the depressed building situation with prices trending downward – half of the lots sold were under $10,000.  Three of the lots sold were small commercial lots, so there only 9 single family home lots sold.  The number of lots on the market have decreased as sellers have decided to wait until “better times”.  If you live in Pueblo West or are a local builder and if you are interested in a particular lot because it is adjacent to your property or you want to build, give me a call. I’ve talked to many lot owners who want to sell but have decided not to place their lot on the market at this time.

Don’t forget to set your clock back one hour before going to bed this
coming Saturday, November 5th

Applications are now being taken for the next Pueblo Master Gardener class offered by the Colorado State University Extension/Pueblo County.

Training location:  Pueblo City/County Health Department, 101 W. 9th Street, Pueblo, CO

Training dates:  Monday and Wednesday evenings, January 23-March 28, 6-9 p.m.  (First time evening classes have been offered!)

Tuition and Program Fees: 

Colorado Master Gardener (CMG) Program (volunteer service) fees:  $195

Individuals interested in the Colorado Master Gardener training without a volunteer commitment may enroll for the coursework under the Colorado Gardener Certificate, CGC, option. The course work is available for a higher fee in-lieu-of the return service.

Colorado Gardener Certificate (non-volunteer) tuition and fees:  $550

For additional information, contact:

Linda McMulkin, Liz Catt or Carolyn Valdez 719-583-6566

For additional information on CMG/CGC Training, refer to the Colorado Master Gardener website at www.cmg.colostate.edu, or contact the Pueblo County CSU Extension office at 719-583-6566.

This year, Applebee’s is offering a Veterans Day menu that includes some of its signature and favorite items.  See:  http://www.applebees.com/menu/vetsday

Here are the details:

• All U.S. veterans and active duty military  personnel with proof of current or former military service will be treated to a free meal at all Applebee’s in their respective neighborhoods on Veterans Day, Friday, Nov. 11, 2011.
• Proof of service includes the following: U.S. Uniform Services Identification Card, U.S. Uniform Services Retired Identification Card, Current Leave and Earnings Statement, Veterans Organization Card, photograph in uniform or wearing uniform, DD214, Citation or Commendation.

Thank YOU Applebee’s!!

The United States Postal Service and Military Postal Service Agency have released deadlines to ensure packages arrive to Military and State Department post offices overseas by Dec. 25, 2011.

Deadlines to ensure arrival by Dec. 25 are:

Nov. 12 for parcel post mail

Nov. 26 for space-available mail

Dec. 3 for parcel airlift mail

Dec. 10 for priority mail and first-class mail, letters and cards

Dec. 17 for express mail military service (Not all Military or State Department post offices are eligible for Express Mail Military Service).

For information on mailing deadlines and restrictions visit the Military Postal Services Agency website.

SINGLE FAMILY

Of the 116 Single Family Sold, 115 were single family homes and 1 condo.

Residential homes sold 3rd quarter by price:

12 < $100K
39 between $100-150K
35 between $150-200K
15 between $200-250K
15 over $250K

Residential homes sold 3rd quarter by Pueblo West MLS location:

[To describe the Multiple List Service area breakdown, Pueblo West Acreage includes those lots on one acre (+) on the south side of Highway 50, not including the Golf Course area (which has smaller lot sizes and is on the sewer system), Liberty Point (the areas adjacent to Pueblo Lake boundaries) or Pueblo West East (generally areas east of the first McCulloch with smaller lot sizes and on the sewer system). There re two designated manufactured home park areas which are on smaller lots, one on the north side and one on the south side of Highway 50.]

36 – Pueblo West Acreage
21 – Pueblo West East
18 – Pueblo West Golf Course
5 – Pueblo West Liberty Point
7 – Pueblo West Manufactured Homes
29 – Pueblo West N of Highway 50

Home sales in Pueblo West remained steady when compared to the previous quarter.  74% of the homes sold in Pueblo West this quarter were under $200K howing affordability for buyers but unfortunately long wait times for sellers with prices over $200K.  Of the 257 active listings, 143 are under $200K and 144 are over $200K.  Based on this supply information coupled with the sales information, it is still a buyer’s market if your house is priced above $200K.  This will drive prices up on the lower end and hopefully push more people into the over-$200K range.  Of the 67 residential properties pending sale, 10 are awaiting short sale approval from lender, indicating that Pueblo West is still dealing with distressed properties.

I wanted to add this additional information about the financing options for the homes that have sold this quarter:

38 – Conventional financing
34 – FHA
18 – VA
24 – Cash
1 – Owner carry
1 – Other type of financing

More than 50% of the buyers are using government backed financing (FHA & VA loans).  Government backed loans require little (3.5% for FHA) or no (VA financing) money down and allow a buyer to get into a property without a large down payment.  When a buyer uses a government financing option, the seller is required, by law, to pay for some of the buyer’s costs.  However, this amount is minimal.  I’m seeing a lot of listings in Pueblo West that don’t include the availability of VA/FHA financing options.  This tells me a couple of things:  either the property has issues that a VA/FHA appraiser will find objectionable (e.g., broken/cracked windows, peeling paint, missing stair rails) and the seller doesn’t want to (or can’t) fix the issues; the property was previously listed as VA, an offer was received but the VA appraiser appraised the property lower than the seller wanted killing the deal (a VA appraisal stays with the house for 6 months); or the seller hasn’t been advised by their agent of the higher percentage of buyers using government-backed financing.  So for sellers, my advice is to make sure your house is offered out to VA/FHA buyers to increase your chance of a sale.

MULTI-FAMILY

Only one multi-family home sold this quarter.  If you can get a loan (or are able to pay cash), it’s still a great time to purchase investment properties.

VACANT LOTS

Vacant lots sold 3rd quarter by Pueblo West MLS location:

9 Pueblo West Acreage
0 Pueblo West East
0 Pueblo West Golf Course
0 Pueblo West Liberty Point
0 Pueblo West Manufactured Homes
6 Pueblo West N of Highway 50

Lot sales continue to reflect the depressed building situation with prices trending downward (several 1-acre lots sold for under $5000 this quarter).  If you live in Pueblo West or are a local builder and if you are interested in a particular lot because it is adjacent to your property or you want to build, give me a call. I’ve talked to many lot owners who want to sell but have decided not to place their lot on the market at this time.

The show will be at the Colorado State Fairgrounds in the Agriculture Palace Bldg.

Show hours are 9-5 Sat. and 9-4 Sun.

For more info and for discount coupons visit http://www.tannergunshow.com/pueblo_customer.html.

Profits from the sale of used books benefits  the Pueblo City-County Library District by funding a variety of activities and physical improvements.

If you are a Friend of the Library you get a special preview day on Thursday, October 6 from 10 to 4.

For more info see:  http://www.booksagain-pueblo.com

Every year, thousands pay homage to two of the Pueblo area’s best loved crops – green chilies‚ particularly Pueblo chile‚ and frijoles or pinto beans.

The event features music‚ arts and crafts‚ cooking competitions and chilies‚ chilies‚ chilies. Held downtown along Union Avenue‚ it draws Pueblo residents as well as people from across the state and around the nation.

Friday, September 23, 3-11pm

Saturday, September 24, 10am-11pm

Sunday, September 25, 10am-6pm

 

Nan Black, my favorite Pueblo garden consultant, has FREE koi for

your pond.  You can contact her at plantrooster@q.com or on

Facebook @ https://www.facebook.com/profile.php?id=1654107695