The first week in December saw a welcome reduction in interest rates, making this a great time to look at the MLS listings in Colorado Springs, CO.

Why Colorado Springs?

Colorado Springs has been selected as one of the best places to live in America by several magazines and web sites, including Outdoor and CNN Money.

Colorado Springs is also within a short drive of six major ski resorts, numerous outdoor trails, great fishing, biking and water sports.  A strong high-tech economy is bolstered by five active military bases in the immediate area, bringing a constant influx of military families moving into the area.  The housing market in Colorado Springs is rebounding nicely too, and as demand continues to rise, it shouldn’t be too long before prices begin to go up.

In addition to interest rates falling to a 38-year low, the Fed is also starting to put more pressure on Colorado Springs mortgage companies to modify existing home loans for troubled borrowers.  While controversial in many circles, not much will be fixed in the housing market until there is a major reduction in the number of foreclosures.

Another area where the federal government has stepped in is by implementing the Federal New Home Buyers Tax Credit.  This legislation makes it possible for new home buyers to get an $8,000 federal tax credit when they purchase a home (subject to certain home price guidelines and income caps).  Originally set to expire on November 30, 2009, the tax credit has been extended through April 30, 2010 and has been expanded to include existing home buyers as well.

If you’ve ever considered a move to the beautiful Pikes Peak region of Colorado, now is the time to make it happen.  Take a look at the MLS Listings for Colorado Springs, CO today!