Blogging About Loans: Economic Recovery in Colorado Springs

An office of elite mortgage lending professionals with a common interest and goal focused on providing customer service that exceeds expectation. Thereby building our business from repeat and referral opportunities. Ruth Vogt. LMB 100023827. NMLS 257576. Regulated by the Division of Real Estate. Fairway Independent Mortgage is an Equal Housing Opportunity.

Economic Recovery in Colorado Springs

Economic recovery in Colorado Springs seemed more likely to happen than other areas due to the military effect on the community. It was just a few months ago that local news suggested Colorado Springs wasn't position for economic recovery. Well, maybe we're not at the top of the list yet, but at least we not only made the top 100 list of areas showing economic recovery, but ranked #14.

So, if you were waiting for one more reason to decide to buy a home, this positive news regarding economic recovery might be what you've been waiting for. If you are still not certain if this is the time, please contact us to discuss how these positive ecomonic recovery statistics fit with your personal financial profile and determine if this is the time to buy. Or, you can start by reviewing this checklist: Steps for buying a home.

Ruth Vogt
Business Development Manager (LMB100023827
 
6025 South Quebec, Suite 110
Englewood, CO 80111 
Work: 720-489-0712/ 592-0855
Fax: 720-489-0273
Other: http://www.dora.state.co.us/real-estate/index.htm 
rvogt@wrstarkey.com 
www.MyLenderOfChoice.com 

Colorado Springs Economic Recovery

The data below compiled by Forbes magazine shows some interesting information.  As a resident of Colorado Springs, I am very pleased to see that Colorado Springs economic recovery is number 14 on the list!  The economic recovery here should be a good sign for the local Real Estate market as well.  The numbers below for our area's economic recovery suggest that our local marketplace benefits from a strong economic output as evidenced by our high ranking in GMP (Gross Municpal Product), which is a measure of the size of our city's economy.  This should help our local economic recovery in the future.  Home sales are also fairly strong according to this analysis even though our median home prices are higher than in many other parts of the country.  My personal theory is that our local marketplace will continue this economic recovery because of the high amount of local military bases (and civilian contractor jobs), non-profits, and defense contractors that will continue to provide a steady base of employment for the Colorado Springs area. 

Moving into 2010 it will be interesting to keep an eye on these statistics, and my hope is that the signs of economic recovery that we are seeing here and in other areas will lead to lower foreclosure rates, higher home sales rates, and other factors that will have a positive impact on the continued improvement in our local Real Estate market.  Although we have a long way to go before a complete economic recovery I am cautiously optimistic that we will see some stability and possibly a small amount of growth in our local market next year.  Let's hope the economic recovery will gain momentum in 2010. 

None of us can individually control the economic recovery for our nation, but each of us can do our part to contibute to this economic recovery by continuing to work hard and be productive.  One of my friends has a bumper sticker that says it all- "I refuse to participate in a recession".  This is probably a good attitude for all of us to adapt in the future!

The Full Story

http://www.forbes.com/2009/11/19/cities-recovery-unemployment-lifestyle-real-estate-top-ten.html

Ranking by city (below)

http://www.forbes.com/2009/11/19/cities-recovery-unemployment-lifestyle-real-estate-top-ten-chart.html?partner=relatedstoriesbox

Recovery City Ranking

MSA

GMP Rank

Unemployment Rank

Home Price Rank

Foreclosure Rank

Sales Rate Rank

1

Omaha-Council Bluffs, NE-IA Metro Area

33

1

12

8

16

2

San Antonio, TX Metro Area

13

14

8

36

2

3

Austin-Round Rock, TX Metro Area

2

18

17

35

15

4

Pittsburgh, PA Metro Area

46

24

2

12

5

5

Harrisburg-Carlisle, PA Metro Area

51

23

37

3

32

6

Dallas-Fort Worth-Arlington, TX Metro Area

25

35

4

51

16

7

Rochester, NY Metro Area

47

30

22

9

18

8

Houston-Sugar Land-Baytown, TX Metro Area

53

40

1

43

32

9

Raleigh-Cary, NC Metro Area

22

42

32

22

30

10

Baton Rouge, LA Metro Area

58

14

9

15

75

11

Little Rock-North Little Rock-Conway, AR Metro Area

65

4

13

41

44

12

Tulsa, OK Metro Area

41

13

14

78

37

13

Oklahoma City, OK Metro Area

6

4

25

40

28

14

Colorado Springs, CO Metro Area

5

18

42

61

22

15

Seattle-Tacoma-Bellevue, WA Metro Area

18

51

77

19

5

16

Buffalo-Niagara Falls, NY Metro Area

33

38

5

5

44

16

Syracuse, NY Metro Area

30

31

6

2

40

18

Madison, WI Metro Area

25

3

38

13

79

19

Nashville-Davidson--Murfreesboro--Franklin, TN Metro Area

25

54

35

17

4

20

Virginia Beach-Norfolk-Newport News, VA-NC Metro Area

51

12

57

30

61

21

Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area

11

8

72

71

22

22

Augusta-Richmond County, GA-SC Metro Area

18

56

20

23

54

22

Bridgeport-Stamford-Norwalk, CT Metro Area

91

29

65

29

37

24

Albuquerque, NM Metro Area

15

28

59

25

66

25

Boston-Cambridge-Quincy, MA-NH Metro Area

18

46

50

31

29

26

Allentown-Bethlehem-Easton, PA-NJ Metro Area

58

51

61

20

11

27

Albany-Schenectady-Troy, NY Metro Area

4

18

30

4

61

28

Denver-Aurora, CO Metro Area

18

14

21

73

31

28

Ogden-Clearfield, UT Metro Area

43

8

55

64

37

30

Scranton--Wilkes-Barre, PA Metro Area

53

46

11

10

79

31

Wichita, KS Metro Area

8

42

3

21

40

32

Knoxville, TN Metro Area

15

42

15

11

44

33

Portland-South Portland-Biddeford, ME Metro Area

25

11

54

6

54

34

Honolulu, HI Metro Area

30

10

67

16

75

35

Columbia, SC Metro Area

37

56

7

37

85

35

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area

47

46

49

26

44

37

Louisville-Jefferson County, KY-IN Metro Area

85

66

29

28

3

37

Minneapolis-St. Paul-Bloomington, MN-WI Metro Area

24

21

60

55

27

39

Des Moines-West Des Moines, IA Metro Area

37

6

24

39

66

40

Birmingham-Hoover, AL Metro Area

81

68

18

53

50

41

Richmond, VA Metro Area

69

26

56

42

90

42

Jackson, MS Metro Area

62

14

10

74

79

43

El Paso, TX Metro Area

3

63

31

1

95

44

Indianapolis-Carmel, IN Metro Area

53

26

33

67

77

45

Salt Lake City, UT Metro Area

47

6

69

76

40

46

Baltimore-Towson, MD Metro Area

37

24

74

62

61

47

Columbus, OH Metro Area

63

32

34

46

44

48

McAllen-Edinburg-Mission, TX Metro Area

1

82

43

24

97

49

Hartford-West Hartford-East Hartford, CT Metro Area

65

35

52

18

66

49

New Orleans-Metairie-Kenner, LA Metro Area

76

21

28

32

95

51

Chattanooga, TN-GA Metro Area

71

50

26

27

72

51

Poughkeepsie-Newburgh-Middletown, NY Metro Area

7

32

70

7

93

53

Greensboro-High Point, NC Metro Area

70

78

19

33

61

54

Charlotte-Gastonia-Concord, NC-SC Metro Area

73

82

39

47

79

55

Cincinnati-Middletown, OH-KY-IN Metro Area

63

53

40

60

26

55

San Jose-Sunnyvale-Santa Clara, CA Metro Area

33

85

85

77

18

57

Portland-Vancouver-Beaverton, OR-WA Metro Area

13

75

73

54

50

57

San Diego-Carlsbad-San Marcos, CA Metro Area

9

68

78

84

21

59

Milwaukee-Waukesha-West Allis, WI Metro Area

37

40

46

49

66

60

Cleveland-Elyria-Mentor, OH Metro Area

85

35

45

63

40

61

San Francisco-Oakland-Fremont, CA Metro Area

65

70

76

79

12

62

Springfield, MA Metro Area

22

60

53

38

60

63

Provo-Orem, UT Metro Area

15

2

75

88

78

64

New York-Northern New Jersey-Long Island, NY-NJ-PA Metro Area

11

54

66

14

89

64

Tucson, AZ Metro Area

47

38

82

70

12

66

Greenville-Mauldin-Easley, SC Metro Area

43

70

16

58

72

67

New Haven-Milford, CT Metro Area

58

32

64

45

90

68

St. Louis, MO-IL Metro Area

9

64

41

48

44

69

Memphis, TN-MS-AR Metro Area

83

64

27

65

72

70

Kansas City, MO-KS Metro Area

33

49

36

52

66

70

Phoenix-Mesa-Scottsdale, AZ Metro Area

82

42

93

90

22

72

Youngstown-Warren-Boardman, OH-PA Metro Area

97

89

23

34

58

73

Akron, OH Metro Area

56

58

44

57

54

74

Grand Rapids-Wyoming, MI Metro Area

88

87

62

72

1

75

Atlanta-Sandy Springs-Marietta, GA Metro Area

83

72

48

83

54

75

Charleston-North Charleston-Summerville, SC Metro Area

25

61

58

66

85

77

Worcester, MA Metro Area

30

61

63

56

93

78

Boise City-Nampa, ID Metro Area

90

58

83

92

32

78

Riverside-San Bernardino-Ontario, CA Metro Area

85

97

98

96

22

80

Palm Bay-Melbourne-Titusville, FL Metro Area

43

78

89

75

54

81

Los Angeles-Long Beach-Santa Ana, CA Metro Area

58

87

88

81

8

82

Sacramento--Arden-Arcade--Roseville, CA Metro Area

79

85

81

93

32

83

Las Vegas-Paradise, NV Metro Area

76

93

100

100

5

84

Bakersfield, CA Metro Area

76

93

95

95

18

85

Orlando-Kissimmee, FL Metro Area

65

81

90

94

54

86

Chicago-Naperville-Joliet, IL-IN-WI Metro Area

73

66

68

68

85

87

Fresno, CA Metro Area

41

96

92

89

9

87

Modesto, CA Metro Area

56

98

97

98

12

89

Dayton, OH Metro Area

93

73

47

44

98

90

Providence-New Bedford-Fall River, RI-MA Metro Area

73

89

71

50

79

90

Stockton, CA Metro Area

71

99

94

97

10

92

Toledo, OH Metro Area

93

78

51

59

85

93

Bradenton-Sarasota-Venice, FL Metro Area

99

91

91

69

90

94

Tampa-St. Petersburg-Clearwater, FL Metro Area

96

84

87

80

61

95

Oxnard-Thousand Oaks-Ventura, CA Metro Area

98

77

84

85

79

96

Jacksonville, FL Metro Area

93

73

79

86

66

97

Miami-Fort Lauderdale-Pompano Beach, FL Metro Area

88

75

99

91

50

98

Detroit-Warren-Livonia, MI Metro Area

92

100

80

82

32

99

Cape Coral-Fort Myers, FL Metro Area

100

93

96

99

100

100

Lakeland-Winter Haven, FL Metro Area

80

92

86

87

99

The list above was formed by Forbes and reviewed info for the 100 largest Metropolitan Statistical Areas in the US.  The categories reviewed above included unemployment rate, Gross Metropolitan Product (a measure of the size of a city's economy), foreclosures, home prices, and sales rates.

 

 


Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.

   www.ColoradoHomeLender.com

   ruthv@fairwaymc.com  303-881-7849.

 

Twitter Icon           http://www.facebookloginhut.com/facebook-login/

 


by Twitter Buttons

Timer

Comment balloon 0 commentsRuth Vogt • December 05 2009 11:08AM

Comments

Participate