Happy New Years!

From Castle Rock Realty, LLC and my family to yours, Happy New Years! May 2009 bring you and yours many blessings!

Are you a skier/snowboarder?

Colorado Resorts are infamous for their amazing snow and amenities. What I am thrilled about is just the sheer number of choices you have as a skier or snowboarder in this beautiful State! If you enjoy hitting the slopes and going until your legs feel like jello and then finding the nearest hot tub to relax with a beverage while under the stars then you will love Rocky Mountain ski resorts. I think I won't be statisfied until I try each and every one of them so I can give you an accurate assessment of my favorites! Call me today and we can plan our next trip to hit the Rocky Mountain ski slopes! mark@gocastlerockrealty.com

Interest Rates at Historic Lows

Have you heard the good news? At last, we are showing some positive momentum in this market with interest rates being slashed to record lows. This good news showed two immediate results. The first relates to Wall Street. As news of the Feds slashing interest rates to unexpected lows hit Wall Street, stocks roared higher to near the 9,000 mark once again. This news even overshadowed gloomy earnings reports and expected next quarter earnings reports from large companies. Another sign that points to how closely real estate and the overall economy are tied.

Secondly, the slashing of the interest rates to historic lows is giving a much needed boost to the mortgage and real estate industry by encouraging refinancing and home purchases. With rates this low, coupled with lower property values, home ownership has become more attainable to many Americans and makes investing in real estate a possibility again.

See how Castle Rock Realty, LLC can help you in these changing economic times. Call Mark at Castle Rock Realty, LLC today at (303) 868-0352 or email mark@gocastlerockrealty.com

Buying a Foreclosure or Short Sale Property

Are you considering taking advantage of dropping property values and purchasing a foreclosure or shortsale property? Now is a great time to find excellent values. With interest rates low (and going lower) and the stock market producing poor returns, small investors are wise to look into purchasing short sales. If you are this type of investor, you might be asking yourself: "What can I expect during a real estate transaction such as this?" Excellent question. Let me tell you what that might look like for an investor in this market.

MSN Money says: '"You can buy foreclosures for as cheap as 30% or 40% below market, but most foreclosures sell for 5% below market," said John T. Reed, editor of Real Estate Investor's Monthly, a newsletter based in Alamo, Calif. Yet the savings may be twofold if the property is purchased from the lender who holds the mortgage that's in default. That lender may be willing to waive some closing costs, maybe even offer a break on the interest rate or the down payment.'

Investors, you will have to be patient with these purchases, however. Foreclosures, short-sales and bank owned homes can be great bargains but you will often times have prolonged escrow periods. Another challenge could be a home in poor condition. Sometimes these homes might have broken fixtures and appliances or worse. Looking beyond the superficial damage is critical when buying these types of homes. Although, because of the economy, even high end homes are ending in foreclosure. Not just the homes in the less desirable areas. Check my website for more information on homes that are available to you at www.gocastlerockrealty.com and email mark@gocastlerockrealty.com so I can personalize your search. You may also call me in order to start looking right away by calling Castle Rock Realty at (303) 868-0352.

Merry Christmas!

Mark

Second Home Destination

On a personal note, I wanted to share with you a great area that my family and I discovered this past Thanksgiving weekend as we went to a friend's mountain cabin for a quick getaway. This special town nestled at the base of the Sangre de Cristo Mountains is called Westcliff. If you enjoy all things outdoors including but not limited to hiking, biking, fishing, quad riding, hunting, cross country skiing, etc. you can find it in this little piece of paradise. The views are spectacular and the properties range from mountain cabins to country farm houses. If you would like more information on this mountain paradise, please call me at (303) 868-0352 or emial mark@gocastlerockrealty.com

Retail Sales on Black Friday are UP!

Black Friday (the shopping day the day after Thanksgiving) proved to show signs of life during a slow and sluggish economic forecast. The economists and retail experts attribute this shopping surge (a 3% increase in retail sales from last year's figures) to customers responding positively to the retail discounts offered on the biggest shopping weekend of the year.

Are the signs of consumer confidence going to spell slow recovery to the rest of the market? Well, let's hope so! Recovery in our markets will surely be slow. There is no overnight remedy for the loss that major companies in our Country have suffered. What IS important is restoring that confidence in consumers to spend money.

Right now, economists are looking for any signs of confidence to show investors and other Americans that we are still a strong economy and Americans have faith that we will make it through this hardship. This is a positive sign, friends! Let's have a Merry Christmas and faith that our Country's great citizens will remain strong and have a great 2009!

Castle Rock Starlighting Event

This past Saturday marked the 73rd annual Starlighting Celebration in Castle Rock. What a great family event and kickoff to the holiday season this is! It seems like the entire town of Castle Rock turns out for this hometown celebration! There is a Santa's village where children get the opportunity to sit on Santa's lap and color photos of stockings hanging from a fireplace. There are local business booths, streets lined with shops dripping with sparkling Christmas lights, and even a live nativity scene with a real camel and donkeys! The evening's festivities really get going with the singing of Christmas carols and Santa flipping the big switch to turn on the giant star on the Castle Rock. The whole evening was topped off with a spectacular display of fireworks. Can't wait until next year's event!

Real Estate Trends

What happens when you get more homes going TO the banks than the banks can sell? Well, this is one of the many struggles facing our nation's banks right now. The rate of foreclosure is higher, and has been since last year, than the banks' rate of sales. This dismal dynamic for banks may not be so dismal for the investor or homebuyer. Arguably, banks may be more in the mindset to negotiate on price, where previously, banks had little wiggle room. The obvious downside to this trend is the lowering of home values. No one in a community profits from increased number of foreclosures and the banks inability to sell them in a timely manner. The American economy is greatly suffering from this subprime mortgage crisis that has led to so many defaults and bank foreclosures. The trade off is that you may get less for the sale of your home but, if you are willing to be flexible in timing and what you are looking for, bargains are a dime a dozen. If you are interested in getting listings of these great buys, give me a call! (303) 868-0352

Is Now a Good Time to Buy or Sell?

The question that so many of my clients are asking me right now and what you, too, may also be wondering is if now is a good time to be involved in a real estate transaction. Well, there is no cut-and-dry answer but the long of the short of it would be yes.

A good real estate broker should look at each individual's situation and make an appropriate recommendation at that time on whether they should buy/sell. At Castle Rock Realty, LLC, we pride ourselves on this type of integrity rather than painting a broad brush and telling everyone that the market is ready for them right now.

Home ownership is a long-term investment that's not the same as buying a stock and hoping for a quick profit or fearing a quick loss. Still, for those who are in the market to buy a house already and can qualify for a conventional mortgage, there are some "bargains" out there right now and I am ready to work on your behalf to get you the best buy for your money.

Douglas and Elbert County as a whole have been rather resilient in this market due to our wonderful location between two large, metropolitan cities while preserving a country feel coupled with our great school districts, the beautiful scenery (quick access to abundance of outdoor recreation), along with the charm of the people, restaurants, stores and active chambers of the Counties' cities. Please go to my website at http://www.gocastlerockrealty.com/ to view photos of these great towns and get more information on this part of Colorado. Let Castle Rock Realty, LLC do the work for you in finding your new home or selling your current one!

Douglas County's First Snow of Season!

The snow has arrived! We woke up this morning to find the snow falling and gently blanketing the landscape and covering the mountains like frosting! How beautiful it is.

One of the Best Towns to Raise a Family in America!

Castle Rock Realty, LLC was not suprised to learn that Castle Rock is gaining notoriety nationwide.

According to Family Circle Magazine, Castle Rock, CO is one of the top 10 cities/towns to raise a family in! That is not news to those who call Castle Rock and the surrounding areas of Douglas County and Elbert County home, but to those who are thinking of moving to this part of the Country, this may be music to your ears.

You can follow the link below to read the article from Family Circle Magazine:

http://www.crgov.com/files/best_towns_for_families_3%20(2).pdf

Let me send you some information about this wonderful community! mark@gocastlerockrealty.com

Castle Rock Realty, LLC (www.gocastlerockrealty.com) is a local brokerage built on the back of integrity, honesty and good old fashioned hard work. We proudly serve the communities of Castle Rock, Parker, Elizabeth, Larkspur, Franktown and Sedalia.

This blog is meant to be a useful resource to my friends, family, clients and future clients in terms of staying informed about the local real estate market's trends and issues as well as what's happening at the national level.

Please feel free to particpate by posting comments or even questions. My hope is that this blog can benefit all of us in many ways and sometimes other's opinions or comments can enlighten us even further. If there are certain topics you would like covered, just let me know and I will research and post!

As always, do not hesitate to contact Mark Phillips of Castle Rock Realty, LLC at mark@gocastlerockrealty.com or 303-868-0352 for any of your real estate needs!

Short Sales vs. Foreclosures

Foreclosure is NEVER the best option even though it might feel like the only one.

The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn’t enough, your credit report will be in terminal condition for many years to come, worsening an already bad financial situation and making it very difficult to obtain any other kind of credit. There is no upside to foreclosure. It should be avoided at all costs.

If you are in the position where you are facing what seems to be an impending foreclosure, you should take a serious look at a short sale first. If you find yourself in a mortgage crisis, I can help you avoid a foreclosure through a short sale instead. You will be so glad you sold via short sale as opposed to having your home foreclosed! Visit my website for a detailed analysis between a short sale and a foreclosure.