According to the 2009 1st Quarter Housing Opportunity Index, housing affordability is at the highest level it has been in 18 years! (Colorado Springs Real Estate Journal, Vol. 1 No. 18 “Housing affordability surgers to highest level in 18 years”)

They based this off of home prices vs. the national median income of $64,000 a year.

Housing Opportunity Index

Basically, if you make $64,000 a year, you can afford a $250,000 home* (if you pay about $600 a month in car/credit card payments, get a fixed interest rate of about 5% and put about 20% down, with about $1,000 a year in homeowners insurance and $1,200 a year in property taxes). (Check Out the Bank Rate Calculator) *All home loans are subject to credit approval and you may qualify for more, less or nothing based on your unique situation. COntact a local, reputable bank or lender for more information.
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How does the Stetson Hills Real Estate Market compare?

Out of the 204 currently available homes in the Stetson Hills area, there are currently 35 single family homes for sale in Stetson Hills between $225,000 and $250,000. The current median asking price for a Stetson Hills home is $229,000 and the average asking price is about $240,000 (MLS data for May 2009).

Homes in Stetson Hills are VERY affordable.

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