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

KatunguTeam@gmail.com

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~