Colorado Springs Real Estate Agent Says Home Buyers Getting Gift of Historically Low Interest Rates

Colorado Springs, CO - Colorado Springs REALTOR® Nicole Lee with the influential Ashford Realty Group in Colorado Springs says that would-be home buyers are getting a gift of historically low interest rates this Christmas season.

Lee says that although the Treasury Department attempts to keep the economy moving with easy lending, it has created an historic opportunity for home buyers to get low payments on already low-priced Colorado Springs real estate. However, time appears to be running out as the 30 year treasury bond yield, which largely determines prevailing mortgage rates, has been rising aggressively in recent weeks.

"Despite efforts at Quantitative Easing by the Federal Reserve, we are definitely seeing the beginning of a weakening bond market, which translates to increased home loan interest rates for home buyers. That means buyers who have been on the fence should act quickly to lock in today's rates and close escrow on the home of their choice."

She says that Colorado Springs mortgage rates play a large role in determining how much home a buyer can qualify for.

"The rule of thumb is that for every percent in interest rate, you can qualify for 10% less house. Anyone who has been watching inventory of Colorado Springs homes for sale can tell you that a 10% price difference gets a significantly different house."

In addition to buying power, Lee says that mortgage rates can dramatically affect supply and demand of homes on the market. She says that when when rates go down, buyers spring into action in order to take advantage of the low rates.

"When rates go up, buyers tend to act quickly to purchase the home they've been wanting before they get priced out of the market by interest rates."

With the historically low real estate prices due to the number of bank owned homes and Colorado Springs foreclosures on the market, along with very low interest rates, Lee is encouraging buyers who are considering buying a home to do so immediately.

"We just don't know how long this combination of low prices and interest rates will last, but Colorado Springs homes are an exception value because of it, in our opinion."

For more information, please contact:

Nicole Lee
Ashford Realty Group
4760 Flintridge Dr, Ste 100
Colorado Springs, CO 80918
Phone: (719) 314-6057
Fax: (888) 631-0062
http://www.coloradospringshomesource.com/
http://www.coloradospringspropertymanagement.net/
http://www.coloradospringsrentals.org/

Colorado Springs Property Manager Says Recession Makes Professional Real Estate Management Crucial

Colorado Springs, CO. - Nicole Lee with the Ashford Real Estate Group, a leading Colorado Springs property management company, says the recession has significantly lessened the margin of error for real estate investors who are feeling squeezed by the economy and can no longer afford inefficient cost controls and inexperienced management of tenants and vacancies.

She says that property managers who don't sufficiently screen tenants for ability to pay the rent and likelihood of paying it on time, and who don't take proactive steps to reduce or eliminate vacancies, can end up permanently destroying their clients' real estate assets. In some cases, they may risk putting their clients' properties into foreclosure.

In one recent case, Lee says that a builder with nine income properties faced catastrophic loss of all assets in foreclosure proceedings because six of the nine tenants stopped paying the rent. According to Lee, this is happening more frequently to inexperienced property managers as the job market continues to underperform, and more renters start getting behind on their rent. She says that her clients haven't suffered that fate because of her quick-response strategy for late payments.

"We protect our clients going into the lease agreement, first of all, by being extremely picky about the tenants we allow into the property. There are plenty of good tenants out there if you know where to look, and we definitely know where to look."

She says that once the lease is signed with a reliable tenant, it's still more important than ever to be diligent in managing every aspect of a property's investment potential. If and when a late payment occurs, her property management company has quick reflex policies to deal with it and keep a small problem from becoming a large one.

"Many Colorado Springs real estate managers don't realize the dramatic impact they have on the bottom lines of their clients' balance sheets each year. We take our clients' assets very seriously, because we want our property owners to stay with us for decades."

Lee says that too many homes are going back to the bank these days, but that foreclosures should present opportunities for investors, not problems.

"By being proactive in our real estate management services, we're generally able to keep our Colorado Springs rentals consistently in a state of positive cash flow. That's why our clients stick with us through all types of markets - they know we're out to fiercely protect their investment."

About Ashford Real Estate Group

Nicole Lee of Ashford Real Estate Group is a part of the Masters Group and provides a variety of real estate services to Colorado Springs and surrounding military installations such as the Air Force Academy, Fort Carson, Peterson Air Force Base, Shriever Air Force Base, and Cheyenne Mountain Air Station.

Nicole Lee's passion is finding the right place to live for military personnel and other residents looking for Colorado Springs homes for sale or rent, and managing investment properties efficiently for local and out of town investors. She also specializes in helping renters learn how to become first time homebuyers and enjoy the benefits of home ownership.

Nicole Lee can be contacted at:

Ashford Real Estate Group
4760 Flintridge Dr, Ste 100
Colorado Springs, CO 80918
Phone: (719) 314-6057
Fax: (888) 631-0062

http://www.coloradospringshomesource.com/
http://www.coloradospringspropertymanagement.net/
http://www.coloradospringsrentals.org/

Hear Nicole Lee discuss real estate management: