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Townhomes and Condomiums continue to see downward pressure on pricing
Market Report for Condominium and Townhomes in Colorado Springs
Search for Colorado Springs Townhomes and Condominiums
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- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
- Have townhome prices bottomed out?
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Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 9 month of supply of townhomes and condomiums on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more pressure on pricing but units sold is increasing in 2010.
5 Tips to increase curb appeal
Are you thinking about selling your Colorado Springs Home? Don’t forget about your curb appeal
What constitutes “curb appeal”? The term embraces everything between your front door and the street
Related Articles:
5 Tips to increase your curb appeal
Front Door makeover – Your home’s front door is the focal point of its curb appeal. You can make a statement by giving your front door
a blast of color (a deep red looks wonderful) with paint or by installing a custom wood door. Or if you want to go all out, install a door with leaded glass inserts Clean off any dirty spots around the knob, and use metal polish on the door fixtures. Replace your kick plate if it looks warn. Don’t forget to sweep your front porch, make sure it is free of debris.
Do a mailbox makeover – Mailboxes should complement the home and express the homeowner’s personality. Pick a box that mirrors your home’s trimmings. Dress up posted boxes by staining or painting the wooden post to match the house’s trim and woodwork.
Install window boxes – Window flower boxes offer a fast, easy way to bring color and charm to your home exterior. Choose boxes made from copper or iron for a traditional look, or painted wood for a cottage feel. Mix and match flowers and plants to suit your lighting conditions and color scheme.
Add outdoor art - Give your yard an update by adding weather-resistant artwork. Choose pieces that complement your home’s natural colors and exterior elements. Birdbaths, metal cutouts, sculptures, and wind chimes are all good choices for outdoor art.
Add shutters or accent trim – Shutters and trim add a welcoming layer of beauty to your home exterior. Exterior shutters can be made of wood, aluminum, vinyl, composite, or fiberglass.
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To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
6 ways your house can make you sick
Can my house make me sick? Yes!
Here’s my list of 6 things in your Colorado Springs house that can make you sick
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1. Radon: It’s a colorless, odorless gas that can seep into the home from the ground. Radon has been called the second most common cause of lung cancer. In the open air, radon usually dissipates into the atmosphere and is not likely to cause harm. When radon enters buildings and is trapped in high concentrations, it causes health problems. This typically happens in basements with poor ventilation. (See related article: Radon testing is important in Colorado Springs)
2. Asbestos: It’s a fibrous material that was once popular in building materials because it provided heat insulation and fire resistance. Asbestos was banned in 1985 but it still may be found in older home’s insulation materials, floor tiles, roof coverings, ceilings and siding. It is only harmful when it is disturbed or exposed causing it to become airborne; which can typically happens during home renovations. It can be costly to remove because the process requires state licensed technicians and specially sealed environments. (EPA Pamphlet)
3. Lead: It’s a toxic metal used in home products for many years which can contribute to several health problems, especially among children and the elderly. Exposure can occur from deteriorating lead-based paint, pipes, or lead-contaminated dust or soil. It’s estimated that 75% of all private houses built before 1978 have lead present. Presently, there is no federal law that requires homeowners to check for the presence of lead-based paint but lead-based paint hazards must be disclosed however. More information available on the EPA Pamphlet. Read the rest of this entry »
Pleasant View, homes in the forest
My Colorado Springs neighborhood pick of the week — Pleasant View
Search for Homes in Northgate in Pleasant View
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Pleasant View homes are in a community that is located in North Colorado Springs, east of I-25, just south of Monument. The neighborhood is North of I-25 to Baptist Road, East of Baptist Road, Right on Tari.
Single family homes in Pleasant View in the Northgate area currently range in price from $249,000 to $429,000. There are currently 4 houses for sale, and 3 under contract. The average price per square foot is currently $102.00.
The majority of the houses were built in the 1970’s and 1980’s and range from 2,500 to 3,500 square feet with a 2 car to 3 car garage. All of the homes were custom built, and most of the homes are Ranches and Raised Ranches, but there are also some 2-storys in the area. The current average list price for sold homes in 2010 is $296,426 and the average days on market is 81. Most of the homes are on .5+ acre wooded lots.
The schools for the area are in District 20 and the High School is Discovery Canyon.
The zip code for the area is 80921 and the neighborhood is very close to the entrance to the Air Force Academy, perfect for commuting for work; as well as the Jackson Creek shopping area is very close. The homes are also very close to Fox Run Regional Park, a beautiful wooded park with many biking and hiking trails. Situated among a forest of ponderosa pines, visitors can view foxes, deer, birds and squirrels. There are 2 small lakes called Aspen and Spruce Lakes. One is stocked with fish, so bring your fish food.
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To find out more information about buying a home in Monument or Manitou Springs, call ….
Kathy (719-287-1049) KTorline@msn.com
Pinecliff Homes, Northwest Colorado Springs
Homes in Pinecliff are in the Northwest Area in Colorado Springs
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The Pinecliff housing market continues to be a Sellers Market, as there is currently a 9 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales units were down 43% from 2009 to 2008, AND pricing was up 6% from 2009 to 2008. Pricing is continuing to decline in 2010.
Single Family Homes in Pinecliff in Colorado Springs were primarily built from 1972 to 2001, with an average age built in the 1980’s. The majority of the houses are 2-stories, ranches, bi-levels, 2-4 baths, with 1 – 3 car garages, both attached and detached. The average home has appx. 2500 to 3500 square footage.
The area is located in Northwest Colorado Springs, Exit 146 (Garden of the Gods) go West, first Right on Rusina, Left on Elkton, right on point of the Pines.
There are several parks in the Pinecliff area, including PineCliff Park. The school District is District 12; and the majority of students go to Rockrimmon Grade School, Eagleview Junior High and Air Academy High School.
There are also several townhome complexes in the area, Pinecliff and Pebblewood; prices range from $150,000 to $170,000.
|
Pinecliff |
|||||
| Year |
Price |
Total Sold |
Average Price per sq foot |
Average Days on Market |
Average Sold Per Month |
| 2010 |
$330,262 |
8 |
$99 |
218 |
1.1 |
| 2009 |
$345,592 |
14 |
$122 |
119 |
1.2 |
| 2008 |
$323,405 |
20 |
$114 |
150 |
1.7 |
| 2007 |
$368,016 |
32 |
$125 |
96 |
2.7 |
| 2006 |
$286,745 |
23 |
$114 |
72 |
1.9 |
| 2005 |
$287,490 |
38 |
$117 |
85 |
3.1 |
| 2004 |
$312,958 |
37 |
$116 |
71 |
3.1 |
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To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
10 questions to ask the Neighbors
Neighbors are often the best source of information about a Colorado Springs neighborhood
For a free Buyers Guide, Email Torline at KTorline@msn.com
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- 14 Things to Know when Negotiating to Purchase a Home
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- What are you scared of?
Once you’ve found your Colorado Springs dream house, there are many things you can do before you make the final decision to put in an offer. I often suggest to potential buyers that they should talk to the neighbors; and here’s some of the questions I suggest that they ask:
- How do you like living here? Would you buy here again?
- What are the other neighbors like?
- What’s the homeowner’s association like? Do they do their job?
- What community issues do you see? Have you had any trouble with crime?
- Have you ever been burglarized?
- Do dog owners in the area put them on a leash or are they allowed to roam free?
- Have you ever noticed anything odd about this house?
- Do you know why the seller is selling this house?
- What do you like best about living here?
- What do you like least about the neighborhood?
You’ll be surprised what the neighbors might tell ……
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To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
Open Houses in Cimarron Hills, Saturday, August 21st
Colorado Springs Open House Extravaganza in Cimarron Hills, Close to Peterson Air Force Base and the Powers Cooridor
Saturday, August 21, 1pm-4pm
Sign in at each home to register for a chance to win a $50 Gift Card at Wal-Mart
1348 Atoka Drive 1250 Nez Perce Dr 7220 Omaha Blvd
For more Information, Contact Kathy Torline at 719-287-1049
Financing options for Colorado Springs Military — VA Loans are the best!
Are you a military member or a veteran?
Are you moving to Fort Carson? Schriever AFB? Peterson AFB? Air Force Academy?
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- Credit score explanation
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With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate. Let’s start with some of the basics about VA loans.
What is a VA Guaranteed Home Loan?
Some people have the misconception that the military is the organization loaning the money. Not true. Your VA Guaranteed Home
Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval.
The guaranty means the lender is protected if you fail to repay the loan. This is also why you will not have to pay private mortgage insurance (PMI). Normally, a lender would require a down payment and/or PMI to obtain a loan.
For even more facts about VA Guarantee Home Loans in Colorado Springs, go the web site for the United States Department of Veteran Services.
You still must meet loan requirements
If there are items in your credit history that are derogatory, you can be denied a loan even though you have your Certificate of Eligibility. The VA cannot demand a lender make a loan to you that would violate their lending practices.
Lenders also must comply with the VA rules and policies when it comes to income and credit standards. Just having the benefit is not enough, you must be credit worthy and have the correct debt to income ratios.
Is a VA Appraisal the same as an Inspection?
No, these are not the same thing. Read the rest of this entry »
What is a Corporate Relo home?
Corporation Relocation’s in Colorado Springs
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You just found your dream home in Colorado Springs, and now your Realtor tells you that it is a corporation relo home. What in
the heck does that mean?
First of all, what is Corporate Relocation?
Each month hundreds of employees move to or from Colorado to start a new job. Moves involve many expenses; including the actual expense of moving as well as all of the expenses connected with selling an old home, and buying a new home. Some corporations offer to cover some or all of the relocation costs for employees who are moving at the company’s request.
Here’s what you need to know if you are buying a corporate relo house
1) The seller may not be selling directly to you. It’s normally the seller’s decision on whether to accept your offer to purchase and the seller handles all contract negotiations. In the case of a corporate relocation, negotiations typically place between the buyer and the seller and once everything’s been agreed upon, the seller actually sells the house to the relocation company who then sells it to the buyer. Sometimes the seller has already sold the house to a relocation company; and you may not have any dealings with the sellers.
2) More paperwork than normal. You normally receive a copy of the Sellers Property Disclosure Statement and other Colorado Real Estate Forms from the sellers. ( In addition to these documents, there may be numerous other addendums and contracts from the relo company.
There are many different types of relocation packages, but for the most part it just means more paperwork for the buyer.
To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
5 tips to buying a short sale
Do you want to buy a Short sale in Colorado Springs?
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Related Article:
If you are wondering what it takes to successfully buy a Colorado Springs home listed as a short sale, here are some tips.
1. Be patient – This is by far the most important thing to remember when buying a short sale. If you need to move by a certain
date, purchasing a short sale isn’t for you. Again, remember patience.
Don’t put in an offer, and then a week later give up on it. It’s a waste of every-one’s time. Be prepared to wait a couple of months for an answer.
2. Decide what price to offer – Have your Colorado Springs Realtor obtain information on other properties that have sold in the area. Also, ask your Realtor to obtain the listing history of the subject property as well as prices on other comparable properties that are listed for sale. After looking at all the fact, decide what price the bank may accept. According to the National Association of Realtors, 80% of the offers made on short sale properties are not accepted. It’s important to understand that lenders will not accept 50% of what the property is worth.
3. Homework - Do your “Due Diligence” on the home before making an offer. Most Short sale properties are sold “as-is”; consequently you may want to have an inspection on the property before you put in an offer on it. If there are “major” things that need repaired, you may want to get an estimate on them and take pictures of these items. It may help the lender be more willing to accept your offer to have the repair information and estimated costs to fix the items.
4.Pre-qualification letter – Give your Realtor a pre-qualification letter from your lender if you are finance the purchase. This letter will be submitted with the contract to the lender. (See: Pre-Qualification or Pre-Approval, which do you need to buy a home?)
5. Experience – Make sure your Colorado Springs Realtor has experience with short sales. (I’ve seen more deals not go through because one of the Realtors didn’t understand the short sale process and didn’t explain to the buyer what to expect.) Don’t be afraid to ask your Realtor have they successfully closed any short sales.
To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
What is a Hot Sheet?
THE MLS is a tool every buyer needs to utilize
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If you’re seriously looking for a home in Colorado Springs, you’ll want to be familiar with MLS. The initials stand for Multiple Listing
Service. It’s an important resource for your home search, and your realtor should be very in touch with what is new on the local MLS every day.
Service. It’s an important resource for your home search, and your realtor should be very in touch with what is new on the local MLS every day.There are hundreds of MLS’s across the country (and in many other countries as well). Every seller knows that they need to get their house listed on MLS to sell it; and every home-buyer should know how to utilize the MLS. Think of the MLS is a big property warehouse , similar to a “Home Depot.” When a property is available for sale, it goes in the warehouse. When it is sold, it gets taken out of the warehouse. When changes get made to the status and pricing of a property, it get’s changed in the warehouse.
Hot Sheets
In the Colorado Springs area, a Realtor can search the MLS and pull up “Hot sheets“. These reports can be Read the rest of this entry »
King’s Deer in Monument Colorado, majestic homes on 2 1/2 acre lots
My Colorado Springs neighborhood pick of the week — King’s Deer in Monument
Search for Homes in Monument, Zip Code: 80132
Related Articles on Colorado Springs Neighborhoods:
- Homes in Crystal Hills, hidden gems
- Mountain Shadows homes in the foothills
- Pinecliff homes, secluded and quiet
- Colorado Springs Neighborhoods – Pleasant Valley
- Woodmoor Homes – Neighborhood Pick of The Week
King’s Deer is a community that is located in Monument, east of I-25, North of 105, east of Furrow, south of County Line, West of Highway 83. It also includes the Kings Deer Golf Course.
Most of the homes in the area area are included in the King’s Deer HOA and the yearly dues are around $200.00.
Single Family Homes in Kings Deer were primarily built from 1995 to 2010 with an average age built of 2002. The majority of the houses are ranches with some 2 storys; with 3 – 4 baths, 3 – 5 bedrooms and 3-5 car garages; both attached and detached. The average home has appx. 4500 to 5500 square footage.
High end foreclosures on the upswing in Colorado Springs
Foreclosures are going upscale across Colorado Springs
Search for Homes in Colorado Springs
Related Articles:
While the high-end numbers are less in Colorado Springs than the lower-priced foreclosures, there has been a growth that reflects a 
significant shift in the foreclosure landscape and its underlying causes. Mortgage problems have moved upstream; partially because of economic conditions such as unemployment and stock losses. Also in play is a different type of risky loan called option ARM (adjustable rate mortgage) and interest only loans.
It definitely seems like the focus is shifting as we’re seeing more defaults, foreclosures and short sales in the more-affluent Colorado Springs communities. Some national experts emphasize that the foreclosure numbers don’t reflect the extent of distress at the high end. Banks are more likely to pursue short sales in luxury Colorado Springs luxury homes, in which the homeowner stays put while marketing the home for less than is owed on the mortgage.
Experts agreed that high-end homes take longer to become foreclosures because affluent people have more resources, consequently they likely to extend the time they’re struggling to make payments.
I looked over the Post Sale List dated 8-4-2010 from the El Paso Public Trustee’s office, and there is definitely evidence that foreclosures are going upscale. There was one property over $1,000,000 that was foreclosed on, 1 over $700,000, 1 over 500,000; and several over 300,000. When I compare this to the same list over a year ago, there were no Colorado Springs properties foreclosed on over $300,000.
There are currently 52 Bank-owned properties on the Colorado Springs market over $300,000; including several homes in the Broadmoor area, as well as in homes in Black Forest and in Monument.
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To find out more information about Colorado Springs and Luxury Foreclosures, Call ……
Kathy (719-287-1049) KTorline@msn.com
12 things to know about the HAP Housing Program for military
Good news on the HAP Program
Related Articles:
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- What is allowable for VA Seller Concessions?
- What are my housing choices near Fort Carson?
- Peterson AFB housing, what are my choices?
The good news for military personnel at Fort Carson, Schriever AFB, Air Force Academy and Peterson AFB is that 
further financial help may be available through the Homeowners Assistance Program (HAP). HAP is an established Department of Defense program that is managed by the US Army Corps of Engineers. It was initially only used to assist in Base Realignment and Closure (BRAC) moves, but the new economic stimulus plan expanded the program to include Permanent Change of Stations (PCS) moves.
The program offers military homeowners a chance to move without having to go through the process of a short sale and the possibility of ruining their credit. (This is very extremely important for anyone with a security clearance.)
Here is a summary of the HAP program for PCS applicants
1. Qualifications: PCSing more than 50 miles, having purchased your home or entered into a contract to purchase prior to July 1, 2006. Also, you must have lived there and it was your primary residence; and your orders were between February 1 2006 through September 30, 2012. The requirements also state that the Owner must not previously received these benefit payments.
2. Your home must have declined at least 10% in value. (This isn’t a problem in the Fort Carson and Colorado Springs market).
3. First priority HAP PCS assistance is given in the Dallas District to applicants with the MOST COMPLETE PACKAGE.
4. HAP benefits are based on the amount you originally purchased the property, plus capital improvements (prior fair market value PFMV verified by your settlement statement). The full amount of your negative value will not be reimbursed.
5. The government will provide benefits Read the rest of this entry »
Foreclosure Home Pick of the Week — South of Colorado Springs
Not all Colorado Springs foreclosure homes are deals
Search for Foreclosures and Short Sales in Colorado Springs
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My Foreclosure pick of the week is in Rockcreek area south of Colorado Springs on 2220 Paseo Corto.
It is a single family home and includes over 2500 square feet, with 3 bedrooms, 3 baths, and a 2 car attached garage; as well as a detached 2 car garage. The detached garage doesn’t have a floor or a door; it’s more of a metal enclosure set on the ground than a true garage. The property was built in 1980; and was originally sold for $264,500 in 2003The upsides….. 3 acre lot, beautiful trees and scrub oak on the lot. The house does need some work, which is very typical for a bank owned property.
The downsides ….. very close to Highway 115; you can definitely hear the traffic noise.
The description in the MLS Says: “Unbelievable property with fabulous mountain views. Large property includes a 1000 sq. ft. garage. Home offers hardwood and slate flooring, enclosed back porch. Minutes to Ft. Carson.”
The El Paso County Assessor’s office has it valued at 307,338. At the current list price of $319,900, it may be priced a little over market value, especially considering it is so close to the Highway. There are 14 other properties in the area, priced from $119,900 to $899,900. During the last 6 months, only 2 properties have sold in the same area, ranging from $259,900 to $420,000.
If you would like to find out more about buying a foreclosed home in Colorado Springs
Call Kathy Torline, 719-287-1049 or email KTorline@msn.com
Manitou Springs homes, Market report as of June 30, 2010
Manitou Spring Real Estate , Single Family Homes
Search for Homes in Manitou Springs
Zip Codes: 80829
The Manitou Springs homes continues to be a Buyer’s Market, as there is currently a 14 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales were only down 11% from 2009 to 2008, but average pricing was down 12% from 2009 to 2008. Sales have continued to increase in 2010, but pricing has continued to decrease.
Recap of 2010, 2009, 2008, 2007, 2006, 2005, and 2004
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of Homes Sold |
29 |
51 |
62 |
63 |
90 |
80 |
82 |
| Average List Price |
$269,434 |
$288,154 |
$292,931 |
$326,757 |
$290,533 |
$269,743 |
$254,814 |
| Average Days on Market |
120 |
100 |
101 |
105 |
97 |
97 |
61 |
| Average # of house sold per month |
4.8
|
4.3 |
5.2 |
5.3
|
7.5 |
6.7
|
6.8 |
Current Report as of 6-30-2010 for Manitou Springs homes
- Active listings: 68
- Absorption Rate: 4.8 homes per month, an 14 month supply of houses currently on the market.
This Colorado Springs Real Estate report contains information on Single Family homes in Manitou Springs.
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
How to buy a Fort Carson HAP home, or a Peterson AFB Hap Home
Don’t forget about HAP homes
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
If you are buying a home around Peterson AFB, Schriever AFB, Fort Carson, or the Air Force Academy, you may want to know 
about HAP properties.
Related Articles:
- 6 BIG advantages of VA loans
- What is allowable for VA Seller Concessions?
- What are my housing choices near Fort Carson?
- Peterson AFB housing, what are my choices?
- 6 Key things to know about the Homeowners Assistance Program for Military families
HAP stands for Homeowner Assistance Program, and it is designed to help military service members sell homes that are worth less than they paid for it.
For example, if you are looking at a Colorado Springs home where the military seller owes $350,000 on the mortgage, and the home is only worth $300,000, this may be qualified for a HAP approved sale. If the seller qualifies, HAP will cover most of the mortgage loss at the time of sale, and allow you to buy it at it’s current market value. It’s important to note that this is not a traditional short sale and is not subject to lender(s) approval; consequently it doesn’t take nearly as long as a short sale.
HAP, which is run by the Army Corps of Engineers, assists military personnel who are PCSing (permanent change of station) with orders to a new base more than 50 miles away. To qualify Read the rest of this entry »
134 questions for sellers to disclose
Sellers Should Disclosure all defects
Related Articles:
When listing a home for sale in Colorado Springs, Realtor ask their sellers to complete a Sellers Disclosure sheet. Whether the Seller provides the disclosures or not, the seller is still liable for any undisclosed defects. (Some sellers mistakenly think if they don’t fill out the disclosure form, they aren’t liable for defects. Wrong!)
The Seller’s Property Disclosure is a standard Colorado Real Estate Form. There are 6 pages of questions pertaining to the environment. structure and condition of the property and the mechanicals. A total of 134 questions
Some of the questions sellers are asked to disclose include:
- Structural Condition of the property
- Environmental conditions
- Are there special assessments due by the Home Owners Association?
- Condition of appliances
- Roof problems
The Colorado Seller’s Property Disclosure is filled out by the seller (not the Colorado Springs Realtor), signed by the seller and dated. This indicates that at the time of the signing, all the information is complete and true.
When a buyer is purchasing a property, the buyer is required to sign and date the Seller’s disclosure. The buyer is notified that the disclosure is in no way intended to discourage an inspection or is it in any way a warranty for the property. The specific language on the disclosure says: “Even though the seller has answered the above questions to the best of the Seller’s actual knowledge, buyer should thoroughly inspect the property and obtain expert assistance to fully evaluate the Property ……….”
I always tell Sellers, when in doubt disclose, disclose, disclose
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To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
What are you scared of?
Are you scared to buy a house?
Here’s some of the things that scare buyers and suggestions on how to overcome the fears
Do I have enough money to buy a home?
Will I have buyer’s remorse?
- The Perfect House: There is no such thing as the perfect house, Read the rest of this entry »
Colorado Springs open house, Saturday July 24th, 12:00 – 3:00pm
Colorado Springs Open House
Saturday, July 24th, 12:00 -3:00m
1348 Atoka Drive Colorado Springs, CO 80915
For more Information, Contact Kathy Torline, 719-287-1049
Market report for homes in Colorado Springs, Central Area as of June 30, 2010
Colorado Spring Real Estate
Market Report for Homes in Downtown Colorado Springs, Single Family Homes
Includes Homes in Downtown, Patty Jewett, Divine Redeemer, Old North End, East End Addition
Zip codes include: 80903, 80907
Search for homes in Downtown and Central Colorado Springs
Related Articles:
The Central part of Colorado Springs housing market continues to be a NEUTRAL Market, as there is currently a 6.75 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales were up 3% from 2009 to 2008, but average pricing was down 13% from 2009 to 2008. Pricing and Sales have continued to decline in 2010.
Recap of 2010, 2009, 2008, 2007, 2006, 2005, and 2004
The $8000 tax credit has NOT expired!!!
Tax credit still available for military in Colorado Springs
Related Articles:
- 6 BIG advantages of VA loans
- What is allowable for VA Seller Concessions?
- What are my housing choices near Fort Carson?
- Peterson AFB housing, what are my choices?
While the tax credit has expired for most Colorado Springs home buyers, military families should know that may still be eligible for the $8000 first time home buyer’s credit.
Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this
special rule. The rules applies to any individual (and, if married, the individuals spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. If they have served on offical extended duty, they have until April 30, 2011, to sign a contract and until June 30, 2011, to close on the new house.
The rules also state “A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.”
Also, if a homeowner don’t live in the new house for at least three years, they have to repay the tax credit. However, military members are an exception when they have to move due to military orders. This relief applies where a home is sold or stops being the taxpayer’s principal residence after Dec. 31, 2008, in connection with government orders received by the individual (or the individuals spouse). It’s called “qualified official extended duty”, and means living at least 50 miles from the home.
Visit www.irs.gov for more information on qualifying and claiming the tax credit.
If you meet the above guidelines, there is still plenty of time build your brand new home in Colorado Springs or buy an existing home.
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6 Small improvements can pay off
Colorado Springs Home Improvements CAN Pay off
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Are you looking for improvements you can do to your Colorado Springs home? Here’s my list of 6 SMALL improvements that can pay off with Energy Savings.
- Programmable Thermostats: They can save you a couple of hundred dollars a year on your heating and cooling costs. You can
program it to lower the temp in the house while you sleep, and warm up the house just before you wake. Then lower the temp while you are at work and warm it up before you come home. - Insulation: It’s estimated that heat loss through walls, floors and the roof account for about 45% of heat loss (or cooling loss, in summer.)
- Tankless Hot Water Heaters: They provide hot water only when it’s needed, hence they remove the need for a big tank of hot water waiting in the basement.
- Energy Efficient Windows: They stop unwanted heat and cooling loss in winter and summer and they can also block harmful UV rays that fade carpets and furniture. (See: Colorado Springs home Improvement — it’s all about the windows)
- Compact Fluorescent Bulbs: It’s estimated that that these bulbs can save $56 over the life of each bulb. Multiply that by 40 bulbs which is the number of bulbs in an average home it amounts to big savings.
- Water Circulation System: How much water goes down the drain while you are waiting for it to warm up? It’s estimated that about 25 to 30 gallons of water daily can be wasted this way, 10,000 to 14,000 gallons annually. A water circulation system automatically recirculates colder water back to your water heater until it’s hot enough for use.
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Foreclosure pick for July, 5 acre horse property in Monument
Search for Foreclosures and Short Sales in Colorado Springs
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My foreclosure pick of the week is in Monument (located north of Colorado Springs) on 4185 Spaatz Road in Pine Hills in Monument. It’s located west of I-25 and it includes over 4100 square feet, with 4 bedrooms, 3 baths, and a 2 car attached garage.
The property was built in 1983; and most recently sold for $375,000 in 2005. It is a two-story , on 5 acres zones for horses and includes a finished basement.
The upsides….. 5 acre lot, expansive floor plan, beautiful valley views with plenty of square footage. It’s very close to Pike National Forest, hiking trails, and only minutes from downtown Monument. It does need quite a bit of work, but at first glance it mainly looks like cosmetic work including new floor coverings, everything needs painted, appliances are needed, deck needs refinished, and the windows look in bad shape. Couldn’t tell about the roof, or the condition of the well or the heating system; all things to be checked out during an inspection.
The description in the MLS Says: “Great opportunity! 4 bed, 2 bath home with over 4,000 square feet! Tons of living space in this house. The main level features formal living and dining rooms, a family room with a fireplace and a spacious kitchen. Kitchen features a breakfast bar and tile counters and backsplash. There is a sunroom off of the family room which offers tons of natural light for the kitchen and family room area. Basement offers a large rec room and an office. Lots of windows and high ceilings throughout the main level.”
The El Paso County Assessor’s office has it valued at $394464. At the current list price of $272.900, it’s priced below market value. There are 3 other properties in the area, priced from $365,000 to $654.000. During the last 6 months, 4 comparable homes in Monument have sold in the same area, ranging from $275,000 to $406,500; averaging $110.00 per square foot.
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June 2010 Market report for Colorado Springs Townhomes
Colorado Spring Real Estate
Market Report for Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
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Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 9 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more downward pressure on pricing by units sold is increasing.
Why didn’t my home sell?
Colorado Springs Real Estate Tips — Why didn’t my home sell.
For a Free Market Analysis on your Colorado Springs home, email Kathy Torline at KTorline@msn.com
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- A tech savvy realtor can help sell your home
In Realtor “lingo”, homes that do not sell during the listing period are known as “expired”
In the Colorado Springs housing market, there are any number of factors which can be responsible for a home’s failure to sell. And 
every one of those problems can be corrected one way or another. The first one we are going to address is Price. This is the “Biggie”.
PRICE Listing your home at the right price is the most important decision in today’s market. Essentially today’s buyers want a “deal”; and it’s currently a price war to get people in the door. If the buyer’s (and Buyer’s Real Estate Agents), don’t perceive that a property is priced right, you won’t get any showings. No showings, mean no offers. It’s a simple equation.
Strategy: Have a through Comparative Market Analysis (CMA) done by a Colorado Springs Realtor to ensure your home is priced right. The analysis will take into consideration many things, including the sales prices of comparable homes that recently sold in your neighborhood within the last 3 to 6 months. The CMA Read the rest of this entry »
Make every showing count
Make every showing count — Tips for Colorado Springs Home Owners
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I think it’s a must for every Colorado Springs Realtor who lists houses for sale to also spend some time as a Buyer’s Agent. I’ve been
showing houses to potential buyers the last couple of days and it has been a great reminder for me of some important things for home sellers to remember:
- Don’t forget the importance of smells. Both pleasant and unpleasant. A musty moldy smell in your basement can make a buyer not want your home. And the flip side is also true, a pleasant inviting smell can make buyers feel more welcome in your home. Be careful using too much air freshener, scented candles, and incense. Smells are very subjective, what one person likes is very different from person to person. But how can you go wrong with the smell of fresh baked cookies that have just came out of the oven? (Smells don’t sell)
- Curb appeal is everything. Buyers can fall in love with a house before they even get out of the car. A manicured lawn, well-kept exterior starts to set the expectations. Buyers will automatically think that a well kept exterior usually means a well-kept interior.
- Set the mood on the inside. Turn the lights on, don’t leave it dark inside. If possible, turn on some nice soft music. Open doors to rooms, make each room feel inviting and welcoming.
- Point out unique features. If the house has unique feature that aren’t obvious, make sure they are pointed out. A small placard on a wall can do the trick to point out a security system, built in ceiling speakers, etc. Also, make sure a feature sheet is included inside the house, in a conscipus easy to see place. If the house is on acreage, include a layout of the land. If it’s a newer house, you could also leave out a small copy of the house plans. The more visuals the better.
Showings Count
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I can’t be there to see it, now what?
Relocating to Colorado Springs
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Occasionally I work with a buyer who is overseas and is intersted in Relocating to Colorado Springs and buying a property that they won’t be able to see in person. Wow, scary stuff for everyone involved. Even with all of the amazing info now available on the Internet, it still doesn’t take the place of seeing the property in person. Here’s some of the additional steps I take, as a Colorado Springs Realtor, to help make sure the buyer gets the most accurate information possible.
- Pictures, pictures and more pictures (and then even more pictures)
I take pictures of everything I can see, including the roof, the furnace, the hot water heater, everything in house. I take pictures of the neighborhood up and down the street, the next door neighbors, the neighbors across the street, the neighbors behind the house, the parks, the schools, the shopping areas that are close by. I try to create the same experience for the buyer that they would have when they actually came visit the house.
I make sure they check out Read the rest of this entry »
Local lenders vs. a National lender
Choose your lender wisely
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If you are trying to buy a Colorado Springs home with FHA or VA financing, choosing a nationwide bank or lender can raise red flags
for the seller and the Listing Agent. In theory, the nationwide banks may seem to offer the best pricing and best closing costs; but not being local can cause problems.
- Even if you have a letter from the national lender saying you are pre-approved, the house still needs to appraise.
- I’ve heard from some of other Realtor friends that some of the national banks (who don’t have a local office) are using appraisers who are not local and who may not understand the prices and the market trends in Colorado Springs.
- Even if the appraisal does come in at or over the contact price, some of the larger lenders are requiring second, even third appraisals.
- Also, some of the larger nation-wide lenders don’t assign one key contact to your account. Hence, if you have a question, you may be transferred to a person in a call center, and sometimes the call center isn’t even in the U.S. No problem if your loan doesn’t incur any challenges, but if you run into any problems you want one consistent person to talk to to get answers from.
- If you use a local lender, you can walk in their office and talk to a live person. Sometimes that can make the difference in getting a loan.
If you decide to choose a lender that is a nationwide bank or lender, you won’t necessarily have a bad transaction. But there are advantages to staying local.
For a list of Colorado Springs Lenders and banks, contact Kathy at KTorline@msn.com
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The biggies
I’ve found my perfect house, now what should I look at?
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What should I be looking at in a house is a common question I get from Colorado Springs home buyers. I always tell them if they 
like the neighborhood and the floor plan, then they need to look at the items that are going to cost them a lot of money. Here are the seven big items (and one smaller one) to look at.
- Roof - How does the roof look? Are there shingles missing? Look at the valleys in the roof. Are the shingles curling on the edges? Is there one or two layers of shingles? (or even 3 layers). This gives a general idea of whether the roof is going to need to be replaced in the next few years.
- Windows – Are they old? Do they need replacing? How is the wood around the windows? How well do the windows seal? Do they open, or have they been painted shut? Is there condensation between the panes of glass?
- Exterior siding or woodwork - Is it rotting or do pieces need replacing? Or does the exterior just need painting? If the house is stucco, do you see any major cracks in the stucco? If it’s vinyl siding; is the siding still in good shape? Read the rest of this entry »
14 Things to Know when Negotitating to Purchase a Home
Negotiating Tips
For a free Buyers Guide, Email Torline at KTorline@msn.com
Ok, you’ve now found your perfect Colorado Springs home and you are ready to make an offer on the property. One of the most important principals of negotiation, is to negotiate from a position of power. The more knowledge you have helps your position of power. Here’s a list of some key points to know before submitting an offer:
(1) Has the seller turned down any other offers?
(2) Is the seller flexible on the price?
(3) Will the seller pay some or all of the closing costs?
(4) When would the seller like to close?
(5) Where are the sellers moving to?
(6) Has the seller already purchased another home?
(7) What is more important to the seller? Closing Date? Price?
(8) Does the seller need to rentback the property?
(9) How long has the property been on the market?
(10) What is the average days on market for the area?
(11) How does the price compare to other properties in the area?
(12) How much does the seller owe on the property?
(13) What does the Assessor have the property valued at?
(14) Are there any recent building permits on the property? (Related Article: Do your homework on building permits)
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They are everywhere
Recap of Colorado Springs Foreclosures Listings, June 15, 2010
Search for Colorado Springs Foreclosed Homes
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The Colorado Springs area saw 788 new foreclosure listings for Colorado Springs bank owned homes come on the market since January 1, 2010 The homes are in a variety of different areas of the city, but the POWERS area in the city had the most foreclosures come back on the market, with 113 new listings. The SOUTHEAST area had 83 new foreclosures come back on the market and FOUNTAIN had 83 foreclosed homes come on the market. There were very few foreclosures listings since January in the Manitou, Peyton, andNorthgate areas.
The average price for current foreclosures on the market is $179,740; and the average prices for foreclosure listings that have sold is $156.614. The average home price in Colorado is currently $233,804. The statistics continue to show that Colorado Springs Bank owned properties are typically priced about 20% below the market place.
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How to bid at Colorado Trustee auction
Want to buy a FORECLOSED house at the Public trustee auction in Colorado?
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The El Paso Public Trustee holds a foreclosure auction every Wednesday at 10 AM. If you are interested in trustee auctions in other 
counties, check out their web sites and it will tell you when there sale date is held. Here’s the web site that lists every trustee in Colorado, their contact info, and their web sites. Here’s some of the steps involved in bidding:
(1) Bidders must submit a bidder registration form (available at the El Paso Public Trustee website or at the Public Trustee reception desk) in person to the Public Trustee at the Auction. A separate form for each property is required.
(2) Bidders are required to hold their own money during the course of the auction
(3) Bidders must have certified funds (cash, cashier’s checks, teller’s checks, or official checks are the only acceptable options) equaling the amount of the bank’s bid plus $50.00. In some other Colorado counties, including Douglas County, the opening bid must be $100.00 over the bank’s bid.
(4) Checks are made payable to The El Paso Public Trustee. The Trustee’s Office will NOT accept checks made out to private parties, third-party individuals or companies.
It’s important to note that there is no longer any redemption period for the previous owner after a foreclosure sale in Colorado. If a property is sold at auction to an investor, the owner CANNOT redeem. They are no longer the owner of the property.
Also, once a property is purchased at auction by an investor, junior lien holders have eight days in which to purchase the property from the buyer for the sale amount plus interest.
If no other buyers come forward at the Trustee auction, the home is returned to the lender and the home will eventually come back on the market as an REO (Real Estate Owned).
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Colorado Springs Housing prices have started to increase
Colorado Springs Real Estate — prices have started to increase
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If you read the national newspapers on a daily basis, you’d think all houses in Colorado Springs and in Colorado have plummeted in value. Not true, and I’m a big believer that graphics and charts tell the real story; so here’s my attempt to show the current pricing trends in the Colorado Springs housing market. The last column in the graph below is 2010 and shows that the current pricing is closer to 2005/2004 and it also shows that our prices have started to increase. We reached our high in 2006, and we’re currently down 18% from our high. Remember, real estate is always local, it varies from city to city, and from neighborhood to neighborhood.
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Homework required
If you want to buy a Colorado Springs foreclosure, you’ll need to do your homework.
Make sure and avoid these 6 mistakes:
Search for Colorado Springs foreclosures
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(1) Bidding War: Don’t get caught up in a bidding war. Some banks are under pricing their foreclosed homes; which can result in
multiple bids. Buyers can get excited and pay too much. Research ahead of time and know how much you want to pay.
(2) Repair Costs: Don’t underestimate repair costs. Do a home inspection. Take along a professional who can help give you an estimate of how much repairs costs will come to.
(3) More research required: Look at recent building permits on the Pikes Peak Regional Building web site, and make sure you know what’s been permitted and what hasn’t. Also, check out the information on the El Paso Assessor’s office, make sure the square footage is the same as the property listing. A buyer may think they are buying at 1500 square property, but the Assessor may have it listed at 1200 square feet.
(3) Neighborhood Home work: Know what comparable homes cost in the same area. In some areas with multiple foreclosure, prices can be depreciating. Get information on current sold properties as well as current active homes for sale in the area.
(4) Neighborhoods are important: Don’t buy in a neighborhood flooded with foreclosures: A neighborhood saturated with REOs and foreclosures may have declining prices.
(5) Financing: Do have your financing in place. If you don’t already have pre-approval from a lender, you won’t be able to put an offer on a property, as sellers want to know that you are financially qualified. You must be able to move quickly.
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Do you want to buy a Foreclosure in Colorado Springs?
You want to buy a foreclosure?
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First, you have to decide at what stage of foreclosure you want to buy. There are three options:
- Pre-foreclosure (which is typically a short sale)
- Trustee’s auction (where the bank buys back the property or the property is bought by an investor)
- REO (for real estate owned by the bank).
Pre-foreclosure: These houses are in the foreclosure process, but they have yet to be sent to auction. Most owners are typically trying to sell them because they are “upside down,” they owe more on the house than it is worth. Homes are typically sold “as-is”.
This means that potential buyers must negotiate a deal with the lender (or lenders) as well as the owner. This is often called a short sale and it’s a complicated and slow process. One advantage is that a buyer can typically inspect the home before purchase. This may not be the case in other types of foreclosure sales.
In Colorado, a Notice of Election and Demand is filed, and then it’s approximately 120 days before the auction date.
Trustee’s auction: These sales CAN yield the lowest prices, but they have more risk. The house may NOT be available for inspection, as well as they still may be occupied. Also, in Colorado, you must bring certified funds to the Trustee’s auction to purchase the property.
Repossession: This occurs after the home has gone through the Trustee’s auction and the bank (or the government) gains possession of the property. Buyers can almost always perform a thorough inspection before closing, minimizing costly surprises. Plus, the property comes with a clear title. These properties are sold “as is”. The lenders normally won’t pay for repair of any cosmetic issues, but occassionally they will pay for some or all of repairs that are health and safety issues.
The next article will includes mistakes a foreclosure buyer can avoid.
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Basements and air quality, the two are related
Basements affect the rest of the house
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I recently attended a very informative class put on by Peak Basement Systems and I learned many new things about base
ments and structural problems.
What I found fascinating was learning about the “stack effect“. Air from the basement is drawn upwards into the first floor, then to the second floor. Essentially, warm air rises – because it’s lighter than cold air. When it rises, the air escapes out of the upper levels of our homes. When air escapes, new air has to come in to replace the air that escaped. The new air comes from the lower levels, through crawl space vents and up from the earth. The stack effect actually causes your house to suck on the ground.
Building scientists say that 50% of the air you breath on the first floor is air that came from the basement or the crawl space.
Consequently, whatever is in the air in the basement is in your house. If there is high humidity downstairs, there is high humidity on the main level. If there is mold in the basement, then there are mold spores upstairs.
Since the majority of homes in Colorado have basements in them; and basements are typically included as living space for many families, don’t underestimate the important of the air in your basement.
Knowledge is Power
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Not many foreclosed homes in Monument Colorado
Monument Homes, Market breakdown for Active Homes as of 3-31-10
For a FREE list of Colorado Springs Foreclosure Homes, Email KTorline@msn.com
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Homes in Monument continues to see a less bank-owned homes than the rest of El Paso County.
Active homes for sale: 160 in the Monument area:
- Short sales: 23 (5.3% of the market)
- Bank-owned: 8 (1.8% of the market)
- Regular: 404 (92.9% of the market)
- HUD: 0
- VA Owned: 0
- Government Owned: 0
Here a list of my Top 6 Colorado Springs CO Foreclosures in the Monument area
| 1 | 478075 | TRI | 17623 Quarry WY | SIF | 3,3,2 | 2 | 2006 | 1,527 | 1,527 | $189,900 | 18 | |
| 2 | 643504 | TRI | 17840 Arrowwood DR | SIF | 3,2,1 | RAN | 1983 | 1,664 | 1,664 | $223,250 | 83 | |
| 3 | 603690 | TRI | 1586 Piney Hill PT 6 | PAT | 4,3,2 | RAN | 2006 | 3,453 | 3,488 | $295,000 | 166 | |
| 4 | 633363 | TRI | 19990 Chisholm TR | SIF | 5,4,3 | 2 | 1992 | 4,687 | 4,770 | $365,900 | 88 | |
| 5 | 492671 | TRI | 19839 Chisholm TR | SIF | 4,4,3 | 2 | 2006 | 4,238 | 4,802 | $499,900 | 34 | |
| 6 | 587924 | TRI | 4630 Red Rock Ranch DR | SIF | 5,7,4 | RAN | 2008 | 5,660 | 6,505 | $895,000 | 58 |
This Colorado Springs Real Estate report contains information on homes in Monument area.
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
Woodmoor Homes – Neighborhood Pick of The Week
My Colorado Springs neighborhood pick of the week — Woodmoor
Search for Homes in Woodmoor in Monument
Woodmoor is a community that is located in Monument, east of I-25. The neighborhood is east of I-25, north of Higby Road, south of County Line Road. It also includes the Woodmoor Golf Club and Lake Woodmoor.
Most of the homes in the area area are included in the Woodmoor Association and the yearly dues are around $200.00.
Single family homes in Woodmoor in Monument currently range in price from $250,000 to $675,000 There are currently 39 houses for sale, and 7 under contract. The average price per square foot is currently $107.00.
The majority of the houses were built in the 1980’s and range from 2,000 to 7,000 square feet with a 2 car to 4 car garage. All of the homes were custom built, and most of the homes are Ranches and Raised Ranches, but there are also some 2-storys in the area. The current average list price for sold homes in 2009 is $379,808 and the average days on market is 180. Many of the homes have great views of the Front Range and Pikes Peak, and most of them are on .5 to 1 acre wooded lots.
The schools for the area are in District 38. the High School is Lewis Palmer.
Related Articles on Colorado Springs Neighborhoods:
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To find out more information about buying a home in Monument or Manitou Springs, call ….
Kathy (719-287-1049) KTorline@msn.com
What are polybutylene pipes? Colorado Springs homeowners beware!
Colorado Springs Homeowners beware
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I’ve attended many inspections this year, and several times I’ve ran into homes with Polybutylene piping. Let’s start with some of the basic facts:
What is Polybutylene pipeing?
It’s a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. It’s estimated that 
the piping was installed in about one in every four or five homes built during the years in which the pipe was manufactured starting in the 1970’s. Most builders stopped using polybutylene in the mid-90’s. It was called the pipe of the future” and was used as a substitute for traditional copper piping.
What does it look like?
On the Exterior, Polybutylene underground water mains are usually blue, but may be gray or black (do not confuse black poly with polyethelene pipe). It is usually 1/2″ or 1″ in diameter, and it may be found in homes through the basement wall or floor, concrete slab or coming up through a crawlspace; frequently it enters the home near the water heater.
What’s the big deal?
Poly systems may fail without warning, Read the rest of this entry »
