THE KATUNGU TEAM CREDOTRUST REAL ESTATE GROUP

In This Issue

• Mortgage and Rent Resources

for Federal Employees

Impacted by Partial

Government Shutdown

• 2018 Local Housing Market a

Boost in Home Values

• 2018 Home Building Rises to

13-year Record High

• Single Family/Patio Homes

Average Sales Price by Area

• Average 30-year Fixed

Mortgage Interest Rate Falls

to 4.45 Percent Low

• The Life Principle I: Helping

Others Succeed

• FHA Raises Loan Limits

• New Year’s Resolution:

A Recipe for Success

Issue 1 Believe and Put Your Trust in Us January 2019

Mortgage and Rent Resources for Federal Employees Impacted by Partial Government Shutdown

As the government shutdown now enters the third week, the Tribune News Services

reported that more than 800 thousand federal employees and 4.1 million federal

contractors are caught in the middle. Effective January 11, 2019, federal employees

will not be paid. If you are one of the impacted employees, and you don’t have

savings for an emergency, you might consider exploring for short-term low-interest

direct deposit loans, use some of your home equity by opening either a Home Equity

Line of Credit (HELOC) or Home Equity, and/or borrowing from either your 401k or

Roth IRA investments. Also, if you are renting you may consider talking to your

landlord/property management agency to explain the situation and ask for assistance

such as late-fee waive, set up repayment plan, or loan forbearance. Some of the

nation’s large mortgage lenders and credit unions such as those listed below are

offering assistance programs to their customers who are impacted by the shutdown.

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.

• Bank of America advises it’s customers to call the

assistance line at 844-219-0690 or visit one of their

branches to inquire about the Client Assistance Program.

• US Bank is offering assistance to customers who may be eligible for mortgage relief programs, including loan forbearance and deferred first payment dates for new mortgages. Call US Bank at 800-365-7772 or visit their branch.

• Wells Fargo Bank is offering forbearance or other payment assistance programs to it’s mortgage customers.

Call Wells Fargo Bank at 888-818-9147 or visit their branch.

• Navy Federal Credit Union is offering zero-percent APR loans up to $6,000 during the shutdown to government employees and active duty members of the Coast Guards. You can either register on Navy Federal’s website or call 888-842-6328.

• USAA is offering a low-interest, direct deposit loan to members who are active Coast Guards and National Oceanic Atmospheric Administration.

If your mortgage loan servicer is not on this list, call them directly to inquire about the assistance they offer.

2017 and 2018 Single/Patio

Homes Average Sale Price by Area

Local Housing Market a Boost in Home Values

As reported by the Pikes Peak Association of Realtors, compared with

2017, last year’s local housing markets average sale prices were increased.

The average sale price of single/patio homes in 2018 was $347,289, a

10.4% boost compared to $314,589 in 2017. The median price or mid-

point of single/patio homes that were sold in 2018 increased to $307,798

which is 9.7% higher than 2017’s median price of $278,000.

The total number of single family/patio homes listed for sale in 2018 was

18,604 which increased by 0.6% compared to 2017 of 18,485.

Single/patio homes were on the market in 2018 for an average of 28 days

before selling while it was 30 days in 2017.

Area 2017

Average Sale

Price

2018

Average

Sale Price

Average

Sale Price

% Change

Black Forest $547,228 $600,437 8.86%

Briargate $380,123 $413,274 8.02%

Central $253,494 $278,776 9.07%

East $248,610 $276,110 9.96%

Falcon $284,358 $310,695 8.48%

Falcon North $328,709 $346,578 5.13%

Fountain Valley $248,906 $273,520 9.00%

Manitou Springs $399,674 $390,965 -2.23%

Marksheffel $324,158 $336,399 3.64%

Northeast $297,949 $323,144 7.80%

Northgate $469,357 $498,800 5.90%

Northwest $415,733 $438,254 5.14%

Old Colorado City $283,154 $324,663 12.78%

Peyton $363,823 $402,242 9.55%

Powers $277,489 $300,677 7.71%

Southeast $205,155 $232,785 11.87%

Southwest $406,592 $438.458 7,27%

Tri-Lakes $488,459 $545,107 10.39%

West $343,852 $392,357 12.36%

Woodland Park $380,650 $404,657 5.93%

Local Average Sale Price for Single/Patio Homes by Area Compiled and Analyzed by Namati Katungu, Realtor

2018 Local Homebuilding Rises to

13-year Record High

Colorado Springs’ strong economy, low

employment rate and being ranked the best place

to live, have fueled demand

for new homes in 2018 to a

13-year record high. The

pace of building new homes

in 2019 may be impacted by

new efficiency building

codes, and rise in the cost of

building supplies, mortgage

interest rates and affordabil-

ity level of homes especially

for time homebuyers.

Year Permits

2018 3,856

2017 3,504

2016 3,237

2015 2,739

2014 2,433

2013 2,688

2012 2,216

2011 1,399

Source: Pikes Peak Regional

Building Department

Average 30-year Fixed Mortgage Interest

Rate Falls to 4.45 Percent Low

Are you considering buying a home, but wondering what will happen to

interest rates this year? Mortgage interest rates in October 2018 rose to

above 5%, the highest since 2011. During Christmas Season, the interest

rates dropped to about 4.5%. Freddie Mac, a federal mortgages buyer,

said on January 10, 2019, that the average interest rate for 30-year fixed

mortgage dropped to 4.45%, and for 15-year fixed mortgage decreased to

3.89%. Economists predict that mortgage interest rates will continue to

rise in 2019 to about 5.8%. If you are planning to buy a home this year,

your best defense is always a good offense; therefore, avoid

procrastinating and take action.

The Life Principle I: Helping Others Succeed

While meeting with a customer, I shared with him the importance

of helping other people succeed in life. Then he said, “That is good

to help other people, but some people have PHD.” This intrigued

me; therefore, I asked him what do you mean by PHD? He said PHD

stands for “Pull Him Down.” He shared his life story where other

people pulled him down. We all have life stories where other

people either helped us rise to new heights or pulled us backward.

The Principle of Helping Other People Succeed in their lives, has

been coined in an analogy, “You reap what you sow.” This life

principle is important because life is the process of sowing seeds,

managing what we sow, and reaping the harvest from what we

sow. Are you making a difference in the lives of people around you?

Are you helping other people rise to new heights in their lives?

These are questions we should ask ourselves. There are people in

your life who have been preordained to help you succeed in life and

to achieve your full potential. However, for you to start seeing them

involved in your life, you should first start sowing seeds generously

by using your time, talent and resources to help other people

succeed. As James Allen once said, “Sow an act, and you reap a

habit. Sow a habit, and you reap a character. Sow a character, and

you reap a destiny.”

This life principle was demonstrated by Frank, one of our active

military customers. We helped him buy a home in late 2017, then in

March 2018, he was deployed to Afghanistan, and we managed his

property for rent. While in Afghanistan he motivated two of his

fellow military buddies to become homeowners, and they bought

homes while they were in Afghanistan. Three months before his

return from deployment, he contacted us to help him buy another

house instead of renting. Since he generously sowed seeds by

helping his buddies, we worked diligently with Matthew Shtatman,

a Mortgage Loan Officer with Axia Home Loans to help him buy an-

other owner-occupied home. Although it seemed impossible as

Frank admitted that, “I was skeptical from the beginning, but now I

have two properties in Colorado Springs. I did all my dealings with

Local Average Sale Price for Single/Patio Homes by Area

“Sow an act, and you reap a habit. Sow a habit,

and you reap a character. Sow a character,

and you reap a destiny.”

FHA Raises Loan Limit

The Federal Housing Administration (FHA) has raised

FHA loan limits to meet housing affordability costs.

Effective January 1, 2019, the El Paso County FHA

loan limit has been increased from $314,827 to

$339,250. This will help first-time homebuyers

qualify for better and spacious homes.

The Katungu Team, and they put my interest first.”

When things seem impossible people will cross your

life path, help you achieve your goals and dreams,

and help you reach your full potential. However, you

should first do your part by sowing seeds that will

make a difference in the lives of other people. When

you help other people rise to new heights, you will

also rise to higher heights, and reach your destiny.

Contact Us

Please contact us and visit our websites for more information about our real estate services.

Namati Katungu,

Realtor®, Eco-broker, GRI, MRP, LHP, QSC

The Katungu Team

CredoTrust Real Estate Group, LLC

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

New Year’s Resolutions: A Recipe for Success

New Year’s resolution goals is a great way to promote positive

change on your personal, family, professional, financial and

spiritual life because you will consciously view your resolutions

as part of your life’s mission. About 58 percent (188,731,490) of

Americans make New Year’s resolution goals. However, it is

striking that, according to U.S. News about 80 percent of

Americans who make New Year resolution goals fail by the

second week of February the same year. About 8 percent of

those who continue with their resolutions successfully achieve

their goals. How can you become one of the 8 percent of

people?

The answer may be found from the wisdom of King Solomon,

which states that “The fastest runner doesn’t always win the

race, and the strongest warrior doesn’t always win the battle. It

is all decided by chance, by being in the right place at the right

time.” In life there are seasons of prosperity, seasons of favor,

and seasons of preordained moments; therefore, take time to

the recognize and capitalize on the seasons. Also, be on

lookout for right people, right opportunities, and the right

resources that will cross your life’s path because life-

altering opportunities as King Solomon said are determined

by being in the right place at the right time.

Also, take appropriate action steps: First, develop clear and

attainable goals, and an action plan for implementing them.

Take time to visualize

and conceive your

goals as Napoleon

Hills, once wrote;

“Whatever the mind

of a man can

conceive and believe, it can achieve.”

Second, strive for continuous improvement as Les Brown

said, “To achieve something you never achieved before, you

must become someone you have never been before.”

Third, be determined, be persistent, and be adaptable as

you work diligently towards attaining your goals.

“Too often we underestimate the

power of a touch, a smile, a kind

word, a listening ear, an honest

compliment, or the smallest act of

caring, all of which have the potential

to turn a life around.” ~Martin Luther King, Jr.~

Happy New Year!