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TRANSCRIPT
THE KATUNGU TEAM CREDOTRUST REAL ESTATE GROUP
“This ranking reflects what
residents have known for a
long time which is that Colorado
Springs is a wonderful place to live“.
In This Issue
• Colorado Springs Ranked
First for Millennials and
Second Best Place to Live
• Local Housing Market
Update: Banning Lewis
Ranch Swath Development
• Mortgage Interest Rates
Update
• Average Single Family/Patio
Home Sale Prices by Area
• Residential Home Sales in
June 2018
• Customer Success Stories:
Principle of Self-discipline
• The Declaration of
Independence
Issue 3 Believe and Put Your Trust in Us July 2018
Colorado Springs Ranked First for
Millennials and Second Best Place to Live
Colorado Springs is stronger than ever attracting students, young adults,
professionals, active military and veterans because of the city’s unique
culture, mountainous landscape, outdoor activities, recreational and
entertainment centers, affordable cost of living, booming economy with
business and industry development, high quality job growth, low
unemployment at about 3.3%, and military installation bases.
The Brookings Institution's Metropolitan Policy Program reported in
February 2018 that Colorado Springs is ranked No.1 as the best place to
live for the millennial generation of young adults born between 1981 and
1997. The population of millennials in Colorado Springs increased by
14.7% between 2010 and 2015.
The U.S. News & World Report ranked Colorado Springs in April 2018 as
No. 2 best place to live out of 125 large metro areas in the United States.
Colorado Springs has been consistently ranked at the top nationally and
internationally. For example, Colorado Springs was ranked by Money
Magazine as No.1 best big cities to live in, Outside Magazine as No. 1
best town, Forbes Magazine as No. 1 America’s most pet friendly city,
Women’s Health as No. 2 the best places to live for women, Livability as
No. 2 best cities for veterans, Men’s Health as No. 2 the most fittest cities
in America, MSN.com as No. 2 cities with conventional wisdom,
Kiplinger’s Personal Finance as No. 5 best cities to live, work and play,
etc. Mayor John Suthers in a news release by the city after the U.S. News
& World Report ranking for this year, said: “This ranking reflects what
residents have known for a long time which is that Colorado Springs is a
wonderful place to live.”
We Contribute 10% of Our Commission as an Incentive for Using Our Services
Information is deemed reliable as of the date of printing. It should be used for information only, not as a realtor’s advice.
The Katungu Team and CredoTrust Real Estate Group are not liable for its use.
Colorado Springs Housing Market Update: Banning Lewis Ranch Swath Development
Colorado Springs Housing Market is ranked No. 9 nationally by
realtors.com® in June 2018 for being one of the top 20 hottest real
estate markets . It was ranked No. 11 in May 2018. The overall
average home sales price in June, 2018 was $361,499 as
compared to $326,263 in June 2017 with an increase of 10.8%. The
overall median price was $324,750 in June 2018 as compared to
$285,250 in June 2017 which increased by 13.8%. The average
days on the market was about 30 days.
The Colorado Springs City Council has approved the development
® of Banning Lewis Ranch 24,000 acre swath of undeveloped land
encompassing of about one-third of the city. The city projects after
developing the land, it will generate about 24,000 homes. After the
land has been developed, Banning Lewis Ranch population is
projected to be more than 180,000 people which will make the
population of Colorado Springs close to that of the City of Denver.
Average Single Family/Patio Home Sale Prices by Area
Residential Home Sales
in June 2018
Mortgage Interest Rates Update
The BankRate.com weekly mortgage rate trend index of July 5, 2018,
based on a survey of experts in mortgage rates reported that 25% of
panelists believe that rates will increase; 33% think that rates will
decrease, and 42% believe that rates will remain the same during the
early weeks of July. According to the latest rates released on June
28, 2018, by Freddie Mac, the 30-year fixed rate averaged about
4.66% with an average of 0.4 points; 15-year fixed rate averaged
about 4.15% with an average of 0.4 points; and the average 5-year
adjustable rate increased to 3.87% with an average of 0.3 points.
Area June 2017
Average
Sale Price
June 2018
Average
Sale Price
Average
Price
Percent
Change
Black Forest $586,441 $577,349 -1.55%
Briargate $388,854 $411,681 5.87%
Central $257,759 $295,835 14.77%
East $245,888 $280,238 13.98%
Falcon $295,527 $333,428 12.83%
Falcon North $329,932 $353,233 7.06%
Fountain Valley $256,157 $273,595 6.81%
Manitou Springs $419,200 $386,980 -7.69%
Marksheffel $333,948 $343,813 2.95%
Northeast $290,143 $342,896 18.18%
Northgate $486,062 $511,294 5.19%
Northwest $409,013 $456,518 11.62%
Old Colorado City $256,455 $313,156 22.11%
Peyton $374,500 $455,362 21.59%
Powers $282,201 $306,806 8.72%
Southeast $214,295 $228,373 6.57%
Southwest $446,731 $417,374 -6,57%
Tri-Lakes $509,299 $581,543 14.19%
West $362,442 $397,787 9.75%
Woodland Park $439,367 $429,015 -2.36%
Sale Price Category Single Family
& Patio Homes
Condos &
Townhomes
$70,000 - $99,999 7 11
$100,000 - $159,999 30 26
$160,000 - $199,999 66 45
$200,000 - $249,999 229 63
$250,000 - $299,999 369 19
$300,000 - $349,999 297 23
$350,000 - $399,999 222 6
$400,000 - $449,999 165 4
$450,000 - $499,999 103 2
$500,000 - $749,999 201 1
$750,000 - $999,999 40 2
$1,000,000+ 8 0
Data from Pikes Peak Association of Realtors
Our Customer Success Stories: The Principle of Self-discipline
While interviewing Olga, Albert, and Alia, we asked them
which of the principles of personal success was most
important. Olga responded that, the principles of self-
discipline and courage were the most important.
According to Elbert Hubbard, self-discipline is the ability to
do what you should do, when you should do it, whether
you feel like it or not. The principle of self-discipline is the
key to personal success because it promotes the
character development of self-esteem, self-respect, and
self-control. Olga, Albert, and Alia demonstrated the
principle of self-discipline as we assisted them with their
real estate needs. Matthew Shtatman, Sales Manager/
Senior Loan officer with Axia Home Loans, introduced
Albert, an army veteran and his wife Alia to us in March
2014 to assist them with
their real estate needs.
During our initial meet-
ing with them, we were
very impressed because
they wanted to buy a
multigenerational family
home to accommodate some of their extended family
members. After determining their real estate needs, we
spent some time viewing multigenerational homes zoned
for horses in Black Forest, Colorado Springs, Peyton,
Falcon, and Fountain. We finally found a spacious ranch
home on a five-acre lot in Peaceful Valley. They lived in
the home for three years; then their family housing needs
changed. They contacted The Katungu Team in the fall
2017 to assist them with selling their home and buying
another ranch home. When we asked them, why they
continue to use The Katungu Team for their real estate
needs, they said, “It is because of Namati’s commitment
to put people first; his ability to listen to what we were
looking for without feeling of pressure or obligation to buy
a specific type of home; and overall Namati’s personality,
friendliness, and being an exceptional realtor.“
While purchasing their third home, Olga, who is a
disabled Marine Veteran used the opportunity to
buy her first home. She wanted a home with
hardwood flooring throughout the main level,
wheelchair accessibility, and be able to
accommodate her entire family. We collaborated
with her Department of Veterans Affairs (VA) Case
Manager and a contractor specializing in
Americans with Disabilities Act building
accessibility to ensure that the home complied with
VA disabled veterans accessibility grant.
Throughout the entire process, Olga, Albert, and
Alia maintained a
high level of self-
discipline
because of
complexity of
their real estate
needs. As “Aristotle once wrote, “The ultimate end
of life is the development of character.” Applying
the principle of self-discipline to personal success
is not about what you do or acquire, but what
matters most is who you become. The experiences
helped Namati to strive for continuous
improvement to become certified as a Military
Relocation Professional.
“Aristotle once wrote, “The ultimate end of life is the
development of character”. Applying self-discipline to
personal success is not about what you do or
acquire, but what matters most is who you become.”
Olga , Albert, Alia and their two sons/grandsons
Contact Us
Please contact us
and visit our
websites for more
information about
our real estate
services.
Namati Katungu, Realtor®, GRI,
Eco-broker, MRP, LHP, QSC,
CDPE
The Katungu Team
CredoTrust Real Estate Group
Believe and Put Your Trust in Us
Text/Voice: (719) 231-5174
Visit us on the Internet at:
www.CredoTrustHomes.com
www.KatunguTeam.com
The Katungu Team
CredoTrust Real Estate Group
Believe and Put Your Trust in Us
P.O. Box 63931
Colorado Springs, CO 80962
PLACE STAMP HERE
Colorado Springs is ranked No. 1 as best place to live … read more
“We hold these truths to be self-evident, that all men are
created equal, that they are endowed by their Creator
with certain unalienable rights, that among these are
Life, Liberty and the Pursuit of Happiness.”
~The Declaration of Independence~