Kathy A. Torline-Nordstrom
ERA Herman Group Real Estate
Serving Colorado Springs
FHA loan changes Effective January 1st 2014 the maximum FHA loan limits in El Paso County will decrease from $325,000 to 271,050. If a buyer purchases a home for $280,850 and puts down the minimum downpayment of 3.5%, they will be within the maximum FHA loan limits . According to one of the press releases I read, there are 650 counties that are going to be receiving lower FHA loan limits as of January 1st. It's also important to note that...Continue Reading!
Fires risk increases during the winter in Colorado Springs With the brutally cold weather we've currently been having in Colorado Springs, it's made me think about the fire hazards during the winter time. Also since the December holiday season typically includes cold weather, lots of cooking, holiday decorations, and lighted candles, it's understandable how the fire risk increases in the winter. Here's some quick facts about winter fires: Fires are more prevalent in the winter Cooking is the leading cause of all winter...Continue Reading!
7 key things to know about seller concessions (1) What is a seller concession? It is a financial contribution from the seller to the buyer, typically negotiated as part of the Buy Sell contract in Colorado. (2) What can a seller concession be used for? It is often used to help pay for the closing cost that buyers incurs in getting a loan to purchase a property. (3) Why would I ask for a seller concession? As a buyer, you may have great credit scores and...Continue Reading!
Colorado Springs Short Sales Want a list of all of the short sales on the market? Email Kathy at [email protected] Is it too late to purchase a short sale home in Colorado Springs? Now since the market has turned, are they all gone? I did a quick search in the MLS today, and there are still 396 short sales listed for sale, and there are currently 3822 homes for sale. That equates to 10% of the listings are short sales. Now even...Continue Reading!
Do you have a doggy door in your house? There have recently been at least 5 burglaries in the Denver and Colorado Springs area where the entrance to the house was by the doggie door; and it seems like almost every major city has had a string of burglaries where the entrance has been from the doggie door. Certainly makes you wonder if you should or should have a doggie door for your pet. It's important to realize that if you have...Continue Reading!
Homes in Palmer Lake and Monument, Colorado I have many favorite neighborhoods in the Colorado Springs area, but I'm probably most partial to homes on wooded lots, homes on the west side of Colorado Springs, homes on acreage, and historic homes. As a Colorado Springs relocation expert, I often get asked about homes north of Colorado Springs in the Monument and Palmer Lake area. It's a beautiful area to live, many homes on acreage, and many home on wooded lots. BUT,...Continue Reading!
Is it too late to invest in Real Estate in Colorado Springs Search for investment properties in Colorado Springs I often get asked by new real estate investors, is it too late to invest in real estate? In my opinion it is never too late, just need to be realistic about your expectations and understand why you want to invest in real estate. Do you want to flip properties? Do you want to buy and hold? Are you looking for long term...Continue Reading!
Colorado Springs Foreclosures continue to decline Search for Colorado Springs foreclosures We've all seen the headlines, the real estate market is doing better. But the big question, is how much better? There are many ways to answer this question, but one way is too look at the number of properties foreclosing. As foreclosed properties eventually will come back on the market, and they are typically at reduced priced to the general market place. Per the reports on the El Paso Public Trustee's web...Continue Reading!
Does a death in a house in Colorado have to be disclosed to potential buyers? Real estate laws vary from state to state. Some states require that an owner disclose all type of facts about a house, including if someone has died in the house. In Colorado real estate, this is not a required disclosure. It is not considered a material fact in Colorado, but in some states, including California, it is required to be disclosed. Buyers need to decide: Do they want...Continue Reading!
New Homes in Colorado Springs and lot premiums go hand in hand Search for new homes in Colorado Springs I've helped a couple of buyers recently purchase new homes in the Colorado Springs area, and it's reminded me how little lot premiums are undrstood. Let's start with some of the basic What is a lot premium? When developers and builders put together the lots in a subdivision, there are some lots that buyers may consider more desirable than other lots. As an example, a...Continue Reading!
How much should I pay for this home? Search for Colorado Springs Homes As a Colorado Springs Realtor, I'm always analyzing the marketing, and I like data. Let me repeat again, I like data, but I know that it's important on how I interpret the data. Numbers can be deceiving. One of the often quoted numbers in the Colorado Springs area is the asking price of homes vs. the actual sales price of homes. According to information published by the Pikes Realtor...Continue Reading!
Moving to Colorado Springs Search for homes on acreage in the Colorado Springs area There are many reasons that people want to relocate to the Colorado Springs area, and I often hear from people that they are looking for a home with acreage when they want to move. I understand that desire to have some land, as I live on a 1 acre lot right next to National Forest. The important thing to remember, is that most of homes with acreage in...Continue Reading!
Do I need to hire an appraiser before I sale my home? Get a free Home Evaluation for your Colorado Springs Home For some home owners, getting an unbiased home appraisal done before putting their home up for sale can be a good step before they put their home on the market. For others home owners, it's not necessary. If you live in a typical suburban neighborhood in Colorado Springs, with a standard floor plan, it's usually easy to come up a valuation...Continue Reading!
Homes in Palmer Lake Search for Homes in Palmer Lake Zip Code 80133 Single Family Homes in Palmer Lake were primarily built from 1969 to 2008 with an average age built of 1986. The majority of the houses are ranches with some 2 storys; with 3 - 4 baths, 3 – 5 bedrooms and 2-4 car garages; both attached and detached. The average home has appx. 2500 to 3500 square footage. The Palmer Lake housing market continues to be a Neutral Market, as...Continue Reading!
Manitou Springs Housing Market Report for Single Family homes Neighborhoods Include: Crystal Hills and Crystal Park Zip code 80829 Search for homes in Crystal Hills Search for Homes for in Manitou Springs Here's a quick summary of the Real Estate Market for Manitou Springs for 2013, as of 8-31-2013 Pricing increased by 5% 2013. Number of homes sold in on pace to increase in 2013. Days on Market has decreased substantially in 2013. Most Expensive Sale in area: Address: 120 Panorama Price: $639,000 Square Feet: 2,662 Area: Mansions Park Place Least Expensive Sale in...Continue Reading!
Own a Historic house in Old Colorado City 14 S. 8th Street, Colorado Springs, CO MLS #743902 5 bedrooms, 3 baths, over 3,000 sq. feet Walkable to Old Colorado City Search for other Historic homes for sale in Old Colorado City For more details including the price, Email Kathy at [email protected] Pre Turn of the century Victorian home in the heart of Old Colorado City. Come see all of the charm this home provides & become a part of Old Colorado history. This home boasts plenty...Continue Reading!
Thinking about selling your home? Make sure you understand the tax implications Free home Evaluation on your Colorado Springs Home 1. If you sell your home at a gain, you may be able to exclude part, or all of the profit from your income. This rule generally applies if you’ve owned and used the property as your main home for at least two out of the five years before the date of sale. This is not a one time exclusion, it can...Continue Reading!
How do I price my Colorado Springs Home? How do I pull comparable sales from the Assessor's Office? In Part I of the article, I talked about the importance of looking at the information on the Assessor's office; and one of the most valuable tools on the site for a consumer it to be able to pull up comparable sales. On the El Paso County Assessor's web site, you can narrow down the search criteria for comparable sales. Ideally, you want to look...Continue Reading!
How do I price my home? One of biggest decisions a seller must make before they put their house on the market, or maybe even before they decide to sell their house, is what is their home worth? Not an easy question with a quick easy answer. There are many steps to this process, but I always think it's a good idea to start the process with looking at the Assessor's office for where the property resides. For homes in Colorado Springs,...Continue Reading!
Colorado Springs Housing Market Report for Briargate Homes, Single Family Includes Homes in Pine Creek, Windjammer, Gatehouse Village, Summerfield Zip code 80923, 80920, 80924 Search for homes in Briargate Here's a quick summary of the 2013 Real Estate Market for Briargate: Pricing has increased by 9% in 2013 Number of homes sold continues to be on pace to increase in 2013 vs. 2012. Days on Market has increased by 3% in 2012 vs. 2011 Most Expensive Sale in area: Address: 9950 Highland Glen Place Price: $1,395,000 Square Feet: 5834 Price Per Square...Continue Reading!