Don't Fall Into The Rental Trap

There are many benefits to being a home owner. But one of the most beneficial is being able to protect yourself from the constant rising rent costs by locking in your housing payment for the life of your mortgage.

Don’t Become Trapped In the Rental Cycle

Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that,

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”

In the Joint Center for Housing Studies at Harvard University's 2016 State of the Nation’s Housing Report, they revealed that “The number of cost-burdened households rose to 21.3 million. Even more troubling, the number with severe burdens (paying more than 50% of income for housing) jumped to a record 11.4 million.” These households struggle to save for a rainy day and pay other bills, such as food and healthcare.

It’s Cheaper to Buy Than Rent 

In Smoke’s article, he went on to say,

“Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home.”

“While more than 85% of markets have burdensome rents today, it’s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren’t those unhappy renters choosing to buy?”

Know Your Options

Perhaps you have already saved enough to buy your first home? If so, HousingWire reported that analysts at Nomura believe:

"It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. 

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)

Many first-time home buyers believe that they need a large down payment to buy their home, however this thought process may be holding them back from their dream home. In many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. With that being said, you may have already saved enough right now!

Bottom Line

The bottom line of this is don’t get caught in the trap that so many renters are currently falling in. If you are ready and willing to buy a home, find out today if you are able. We would be more than happy to help you in the mortgage and home buying process, and make it as effortless as possible.

*content courtesy of www.keepingcurrentmatters.com*

Your House Went How Fast?!?

Have you wondered recently what Your Home Could Sell For? The market here in 

Colorado Springs is HOT! Homes are on the market for an average of 32 days*! In the case 

of our Keller Williams Partners market center most are going under contract in less than 10 

days! (varies by price of course). This information highlights the importance of a strong 

home market analysis, because knowing where to price your house at allows us to sell it 

faster! Need further stats to see why it's a good time to sell? Check out these numbers for 

the real estate market right here in Colorado Springs...

From March 2017

• Sold Listings: 1,128*
• Total Active Listings: 1,176*
• Average Sales Price: $296,926*
• Days on the Market: 32*

*(Statistics pulled from the Pikes Peak Association of Realtors)*

Do you want to know what you could get for your house?

The real estate market changes daily. Currently our inventory in Colorado Springs is low..   

Are you curious to know how this may impact the current market value of your home? 

Click Here to Find How Much Your Home is Worth

Our Springs Summit team is here to help facilitate and meet all your real estate needs, 

and would love the chance to be your agents. Please contact us today with any 

questions!

A Little Bit About Us...

Springs Summit Group

Mission Statement:
Our philosophy is simple: clients come first. We pledge to be in constant communication with our clients, keeping them fully informed throughout the entire buying or selling process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We don’t measure success through achievements or awards, but through the satisfaction of our clients.

Ed Leyba: Team Owner

Is a seasoned and skilled professional with several years in business and real estate. Prior to his successful career in real estate, Ed created JANDA SPORTS, LLC taking it from a part-time hobby into a highly profitable and respected business. Once Ed begun his real estate career, he passionately attended every class available to ensure he had the knowledge required to better serve his clients. Real estate came naturally to Ed, as well as leadership. After selling for a few years, he was promoted to Team Leader/CEO of a Keller Williams franchise. His franchise quickly became one of the top offices in the region. 

Building on his success, Ed capitalized on other opportunities within the region. He opened the Keller Williams Realty office in Grand Junction, and now owns three Keller Williams Realty franchises in Colorado Springs, with satellite offices in Gleneagle, Woodland Park and Canon City. Ed is also the owner of Synergy Property Management.

As a business owner, Ed is committed to giving back to his community. To that end, he has volunteered his time and merchandise to various organizations throughout the city. A devoted and involved parent, Ed is active in his children’s education. He has served as Publicity Chair for Academy District 20, Frontier Elementary school PTO and F.I.T. (Frontier Improvement Team). 

Vicki Maloney: Realtor/Investor

Vicki Maloney has been with Keller Williams Realty since 2005. She is a member of Peak Producers (Top 10% of real estate agents in the Pikes Peak Region) in 2014 & 2015 & 2016, Cultural Icon for KW -2007, and was apart of the Agent Leadership Council from 2008-2015. She served in the United States Air Force from 1985-1989. 

She is married to David Maloney (also retired USAF) and is the mother of three children; Christopher, Caitlin and Caroline. She is her children's biggest fan and supports them in all outlets of their life. Vicki is also a die hard sports fan that loves college and professional football, as well as basketball. Originally from Louisiana, the Air Force moved her and her husband to Colorado in 1990 and they haven't wanted to leave since.

Deborah Worthey: Realtor 

Deborah prides herself as a Colorado native, knowing the nuances of the area and the community she serves. She herself has been investing in real estate with her husband for the past 20 years. As a Broker Associate with Keller Williams Partners her commitment level is simplified through her personal mission statement: "The intention of my business is to exceed your expectations and deliver."  She concerns herself with what's important to you. Working with both buyers and sellers to deliver the best real estate experience possible. Being active within the community through local organizations, she takes opportunity to serve on several boards and committees and assists with local functions. Giving back is important to her to see others succeed.

Along with her husband Mark (a third generation Colorado native), they've raised three sons, with each one finding professional paths that suit their passions and talents. They enjoy keeping active with local sports leagues and supporting mission endeavors through sponsorship's. Being huge fans of local independent businesses, they encourage and promote through active involvement and invite you to do the same! 

Sabrina Jackson: Realtor

Sabrina Jackson is a Broker Associate & Team Leader of the Springs Summit Group at Keller Williams Partners Realty. She is in charge of hiring and developing talent as well as inspiring and encouraging others. As a Team Leader Sabrina is very active in helping individuals with their real estate needs in the Colorado Area. She actively helps with relocation needs, first time home buyers & sellers, helping sellers get more value from their home, and creating a stress free environment. Sabrina has developed several skills in the real estate industry through her extensive career with Weidner Apartment Homes from 2007-2015. Such skills were budget control, pricing, staging, mentoring & training, new builds, and qualifying tenants. 

Sabrina is a family oriented person who enjoys a strong family and work balance. She enjoys the Colorado Outdoors with her husband, two kids, and two dogs. Sabrina believes deeply in giving back to the community and is very passionately involved with foster care organizations.

"Action is the foundational key to all success”. Pablo Picasso

Brooke Shepherd: Realtor

 A true Colorado Native, her experience and knowledge of the Pikes Peak Region enables her to find the perfect house for you to call home.  Taking time to search through the best of homes, townhouses, patio homes, through out Colorado Springs and the Monument area to find the perfect fit for you. Whether you are looking for a view, a house with land, a city condo or a mansion. Brooke will take care of all your needs with the utmost care and diligence. Utilizing the newest technology, such as the mobile App for clients to download, Brooke is always ready to help you. 

While Real Estate is a passion, family is Brooke's priority, raising three sons and a daughter with her husband in the Monument area. She is actively involved in her kids education as well as being their number one fan in all their sporting events. 

Jennifer Lloyd: Realtor

Prior to coming on board at Keller Williams, Jennifer was a Senior Director of Customer Service at Horizon Communications.  Jennifer began her career in the telecommunications industry by sharing ownership of a family owned/operated telecommunications company.  She was responsible for customer service, human resources and payroll.  Before working in the telecommunications industry, Jennifer was employed by one of the largest insurance companies on the West Coast for 18 years. 

She held a life and health insurance agent license, was a Business Systems Analyst in contracts and licensing and information technology.  She participated in facilitation of company-wide strategic planning processes with an emphasis on mainframe system testing analysis.  Jennifer also worked in the individual insurance division as a Customer Service Representative for 10 years.

Becky Amirault: Realtor

Becky has lived in Colorado Springs almost her whole life and is proud of raising her two daughters in this beautiful city. The Air Force moved her here when she was five years old and she fell in love with Colorado. Becky has always loved the strong sense of community; big city amenities and small town feel in Colorado Springs. As a military family member and person who grew up in this community, she understands the stresses, pressures and sacrifices relocating military and non-military families go through, and would loves to assist those who serve and have served in the transition to a new home.

Her business expertise from working in corporate America’s Fortune 500 companies, managing multi-million-dollar software products, will go to work for you. She is very analytical, organized and detail oriented, with strengths in negotiating and problem solving that will make her a great asset in your real estate transactions. 

Real estate is a career that allows her to help people and give back to the community. One of the ways she's constantly giving back is by donating a percentage of her proceeds to the American Cancer Society to help find a cure and provide local services to cancer patients and their families. 

Seth Worthey: Marketing Manager

Seth is a 4th generation Colorado native that loves his home state. In May 2016 he graduated from the University of Colorado Colorado Springs's school of business with a Bachelors degree in Business with an emphasis in Marketing. Now working as The Spring Summit Group's head of marketing to increase brand awareness as well as selling homes faster through specific outlets and specialized tactics. He is very passionate about marketing and fully believes it has the power to help any business expand and be more successful when done correctly. He has been nicknamed "the marketing guru" which says it all.

Apart from his love of business marketing Seth is also an avid writer and basketball player. 
Along with his major in business he also has a minor in creative writing which both helps him with his major as well as his main hobby. One of his greatest joys is making those around him smile and laugh. He believes balance is important in all things to receive maximum benefits and he puts this into practice in his work making sure all things work together for the clients benefit. 

Justin Torres: Realtor

Justin Torres is a Professional, Interpersonal Communication Specialist who works with Keller William Partners Realty as an Inside Sales Agent to help bridge the gap between sellers and buyers.

Justin knows his clients all have goals they aspire to accomplish, and he believes he can truly help his clients reach their goals with a positive outcome. Justin’s approach to each client is the mentality of “how can my talents and services help you reach your goals”. Justin knows with this servant mentality his clients will have a truly great experience, 2nd to none with Keller Williams Partners Realty.

Justin’s passion for real estate has led him to have many different opportunities within the industry. Justin’s first opportunity within the real estate industry was wholesale investing, he connected motivated sellers who were in need of help with able buyers to help families avoid financial disasters. Justin knows he can truly have a positive impact in his community. Justin’s positive experiences with helping others has inspired him to pursue his real estate license. He is working to further his career in the right direction in the real estate industry working as a inside sales agent with Keller Williams Partners.

Kelsey Ruger: Realtor

Born and raised in a small town in Iowa, Kelsey graduated from the University of Northern Iowa with a Bachelor's degree in Communicative Sciences and Disorders. Her interest in real estate developed while she was living in South Carolina after college, where she gained experience as an agent assistant and short-term vacation rental property manager. 

Since moving to Colorado Springs in 2016, Kelsey has enjoyed hiking, camping in the mountains, exploring beautiful Colorado, and getting to know its residents. Kelsey is looking forward to becoming a valuable asset to the Springs Summit Team here at KW Partners in Colorado Springs.