Everybody Calm Down! The Sky Is Not Falling

After weeks of continuous good news about the housing market, the naysayers jumped all over this month’s Pending Sales Report from the National Association of Realtors (NAR). Pending sales were down from the previous month. This must be proof that all that other positive news on real estate should be ignored – right? WRONG!!

It is true that this month’s numbers were down from last month. However, we must realize we are comparing the numbers to the best month in two years. The numbers are 14.4% higher than the same month last year. Below is a graph showing the pending sales numbers over the last two years. You can decide whether it is showing a recovering market or not.

Jobs Data Disappoints
Weaker than expected US economic data and continuing concerns about Europe were positive for mortgage rates, which declined to record low levels this week.

Nearly all of the economic data released this week, including GDP, ISM Manufacturing, Consumer Confidence, and Pending Home Sales, fell short of expectations. Most significantly, for the third consecutive month, the important Employment report disappointed investors. Against a consensus forecast of 150K, the economy added just 69K jobs in May, and the figures for prior months were revised lower by 49K. The Unemployment Rate unexpectedly increased to 8.2%, from 8.1% in April. In short, the data was weak in nearly every area. As usual, bad news for the economy was positive for mortgage rates.

Growing uncertainty in Europe increased investor demand for safer assets, including US mortgage-backed securities (MBS). The big question for Greece is still whether it will exit the euro. In Spain, the banking sector is on shaky ground, and ECB officials are opposed to the use of ECB facilities for a bailout. European Union (EU) officials instead are considering a "banking union" to share the burden of bank failures in the EU. Reflecting the uncertainty, borrowing costs in Italy moved significantly higher at its most recent bond auction. Until investors see definite signs of progress in easing Europe's troubles, investors are likely to favor relatively less risky assets.
Stock market news in the month of May was one of the worst in 10 years.  Though May is notoriously turbulent, the May was rattling both to domestic and international investors…….We are all hoping June is much better!

What are your plans for this Memorial Day weekend?

With this weekend being Memorial Day, how will you be spending this weekend honoring America's Heroes? Fort Collins and the Northern Colorado area has a plethora of events for everyone to enjoy, including, but not limited to, a 5k run from Hughes Stadium all the way to the plaza in Old Town, food vendors, and live local music.

In honoring our Veterans, take some time this weekend to have fun and maybe even find yourself a home if you are moving here! Don't forget to call Kevin Shaw today at 970-946-7358 and don't forget to 'like' us on  Facebook.

http://www.coloradoan.com/article/20120520/NEWS01/305200032/Veterans-Plaza-Fort-Collins-host-Memorial-Day-events

CSU Football Stadium: Possibility of Relocation to Central Fort Collins

What are your thoughts on moving Colorado State's Hughes Stadium into the middle of Fort Collins Colorado? This could have both a positive or a negative impact on the community, affect neighbors near the proposed location, or even block the great mountain views.  Do you think Hughes Stadium is fine where it is currently located?

According to CBS local news in Denver, "The school has to consider the impact of a new stadium on nearby neighborhoods. And money from the state, tuition and taxes cannot be used to pay for the new stadium." Considering the negative and positive impacts of such a move must be noted and the community on board. 

http://denver.cbslocal.com/2012/02/24/csu-hold-first-public-meeting-about-football-stadium-plan/

U.S. Foreclosure rate has dropped to a five year low!

http://www.denverpost.com/business/ci_20649411/u-s-foreclosure-rate-dropped-five-year-low

Check out this article on the Denver Post!  The U.S. Foreclosure rate has dropped to a five year low! Great news on the recovery front!

New, Gorgeous Fort Collins Home listed! Great Price and location!

http://fortcollins.craigslist.org/reb/3021827210.html.

 Beautiful ranch floor plan with gorgeous entry, gourmet kitchen with plenty of storage and cabinetry. Slab granite, Huge island for bar seating. Eat in kitchen with large great room. Fireplace in Family room. Complete with A/C, garage door opener all appliances including washer and dryer and front yard landscaping. Great Home for the money.