Colorado Springs Real Estate Happenings
2013 was the year of measurable market recovery. Rents are improving, loan demand is up as are our spirits and most importantly, our annual yield. There is the feeling that we have turned the corner and that the crisis is behind us. We have purchased nearly 30 homes in the last two years and all that effort is beginning to pay off. The income from these low priced acquisitions should serve us well for many years to come.
We were able to renegotiate our debt for better terms during the last year and feel very comfortable with out current portolio.
The market has shown higher rents and stabilizing values throughout the summer as the real estate recovery continues. The Federal Reserve is expected to announce less participation in the market going forward. This is not expected to have a big impact on rents or values.
We are expecting improving cashflows and increased loan demand as we go into the fall season. Go Broncos.
The road show has begun for this partnership. The 4.5% yield and great cash flow seems to have peaked the interest of the people I have talked to. I have several appointments during the next couple of weeks. I will try to keep everyone up to date as we go forward.
Our annual report has been published, our tax reporting is complete, and we are on our way to another dividend producing year. We acquired several properties in 2012 that were updated and rented. We expect they will provide competive returns for several years.
We look forward to funding our next partnership during the 2nd quarter of 2013 - our first in nearly 15 years. We are being more aggressive in this market. We think there will be more stability going forward as real estate inventories are the lowest in years and the Federal Reserve continues to offer low interest rate with the intent of stimulating growth, particularly in the housing sector - that is us.
Hope all is well