There really are signs that the Colorado Springs real estate market is on it's way back to normal. I've mentioned that I really am not fond of foreclosures, and today discovered we have fewer than 700 homes, or 10.9% of our active inventory, in the "distressed" category. This is down from closer to 13% at one point, and reflects both the lenders being a bit easier to work with when someone is in trouble, as well as fewer people getting into trouble.
The Danish company Vestas is in the news again, this time announcing they are building a production facility for the towers that go into wind power in Pueblo. They are rapidly becoming a player in the Colorado economy, and in the "new energy" economy as a whole, and I am excited to see our state involved in both the manufacture of these systems as well as the use of them. Many wind towers are expected to be installed in eastern Colorado to create electricity from wind energy (see the Pickens Plan for more details on this idea and what it might mean), where the wind blows pretty steady.
What a great thing to build them in Pueblo, once known as the Steel City, where unemployment has been somewhat high, and many workers who are skilled in working with metal still live. Pueblo is less than an hour south of the Springs, and is where the Colorado State Fair is held every year (it starts today!), also home to one of the largest lakes in the state, Pueblo Reservoir. Many of our TV and radio stations service both the Pueblo and Colorado Springs markets, as Cheyenne Mountain towers can reach both markets.
Today's photo is of the interior of the Garden of the Gods park, with a little foggy haze earlier in the week.