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Colorado Springs
Archive for May, 2009
Bank owned properties are selling like hotcakes! Quick and fast
Sunday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of May 24, 2009
During the last 7 days, 44 bank-owned properties came on the market; 32 of them are already under contract or pending. 73% of these new listings went under contract in a week.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
How do I get a down payment for Homes in Colorado Springs?
Colorado Springs Vintage Homes is happy to feature a great article by
Harry Venik with Adams Mortgage, LLC in Colorado Springs
Related Articles:
- Pre-Qualification or Pre-Approval, which do you need to buy a home?
- Will VantageScore Bring Consistency?
- Colorado Springs Mortgages — tips for consumers on points
- Marriage and Mortgages FAQ’s
Colorado Springs Home Buyer’s Down Payment FAQs
With today’s combination of lower home prices, some of the lowest interest rates the industry has ever offered, and 
the $8000 tax incentive for first-time buyers, buying a home in Colorado Springs has never been so attractive. The only real hurdle left for many Americans is coming up with a down payment. With this in mind, we’ve put together some of the most frequently asked questions we get about down payments in today’s market.
Q. Are there any no-down payment programs left?
Yes. While it’s true that most of the popular no-down payment programs disappeared in the wake of the subprime mortgage collapse, there are still two longstanding government-backed programs that offer mortgages with no down payment: the USDA Rural Development Program and the VA Loan Program.
A USDA Guaranteed Loan is a Read the rest of this entry »
Peterson AFB housing, what are my choices?
Must Read Posts: Relocating, it’s all about the schools
When relocating to Peterson AFB or Schriever AFB, there are many neighborhoods to choose from including the Powers Corridor on the East Side of town, Falcon/Peyton also on the east side of town as well as the Marksheffel area. Commute times vary from 10-35 minutes from these areas.
Search for Homes for Sale Near Peterson AFA and Schriever AFA
Powers Area in East Colorado Springs
As Colorado Springs continues to grow farther east, the homes on Powers Blvd are becoming more and more popular. It has the city’s largest concentration of retail shopping, restaurants and entertainment; and new restaurants and shopping continues to be added. Commuting from Powers takes 10-25 minutes. Some of my favorite neighborhoods include Stetson Hills, Indigo Ranch, and Springs Ranch.
Falcon and Peyton
Falcon and Peyton are two of the upcoming and growing neighborhoods in the Colorado Springs area. Read the rest of this entry »
Colorado Springs Townhome condo market report for April 2009
Colorado Springs Townhomes and Condos
Must Read Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently a 12.5 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”.
| 1-1-2009 to 4-30-09 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of TownHomes Sold | 276 | 1062 | 1423 | 1767 | 1731 | 1548 |
| Average Sale Price | $136,802 | $158,272 | $173,372 | $166,335 | $152,901 | $148,947 |
| Average Days on Market | 121 | 104 | 98 | 92 | 75 | 70 |
| Total Active | 853 | 775 | 888 | 882 | 650 | 625 |
| Average # of townhouses sold per month | 69 | 64.5 | 74 | 73.5 | 54 | 52 |
Current Market Activity as of 4-30-09
- Active: 853
- Under Contract and Pending: 197
- Absorption Rate: 69 townhomes per month, a 12.3 month supply of townhouses currently on the market
This Colorado Springs Real Estate report contains information on Condo/Townhomes
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
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Must Read Posts:
- Buying a home in Colorado – what you should know about making an offer
- How does days on market affect home prices in Colorado Springs?
- Manitou Springs is still a Buyer’s market for homes
- First Quarter 2009 Market report for homes in Northwest Colorado Springs
To find out more information about selling or buying a townhome or condo in Colorado Springs and Manitou Springs
Call Kathy (719-287-1049) or Nancy (719-659-4380)
Ktorline@msn.com or Nancy.shakeshaftslack@gmail.com
Colorado Springs Foreclosure listings in WEST area as of 5-26-09
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in West As 5-28-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Homes in Kissing Camels, Cedar Heights, Mesa, Chelsea Glen, Pleasant Valley, Holland Park
Breakdown of homes for sale, INCLUDING FORECLOSURES, as of
- Short sales: 17 (7.1%)
- Bank-owned: 11 (4.6%)
- Normal: 208 (86.7%)
Active Homes for Sale: 240
- Single Family Homes: 163 (68%)
- Condos/Townhomes/Patio Homes: 77 (32%)
Partial list of Read the rest of this entry »
One way to find a good home inspector
How do I find a good home inspector?
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
I was working on putting together a list of home inspectors for my client to call to schedule an inspection on a property she is trying to purchase; and I realized that was a great topic for a quick blog.
Home inspectors are a crucial part of providing information to buyers so they can make an informed decision on the 
property they are trying to purchase. I was looking for the business cards of a couple of inspectors I’ve used the the past, and I remembered they were both members of ASHI, American Society of Home Inspectors and all of their contact information was on ASHI’s web page.
ASHI’s web site is full of information for consumers; links to consumer protection articles including articles about mold, septic information, aluminum wiring, FAQ’s on inspections, and you can search for inspectors in a specific area.
In Colorado, inspectors Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of May 16th
Saturday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of May 17, 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Related Articles:
- Don’t let your dream house become a nightmare
- Homes sold “As Is” in Colorado Springs….what does it mean?
- Homes in Colorado Springs, 5 things to know about buying foreclosures
- Buying HUD homes in Colorado Springs, Part I
- Buying HUD homes in Colorado Springs, Part II
- Colorado Springs HUD Homes – Part III in FAQ’s
- HUD homes available for $100.00 downpayment
What are my housing choices near Fort Carson?
Colorado Springs Military Relocation Tips
Must Read Posts: Relocating, it’s all about the schools
When relocating to Fort Carson, there are many neighborhoods to choose from including the Cheyenne Mountain area in southwest Colorado Springs, Fountain, Security/Widefield which are close to the base, and the Powers Corridor on the East Side of town. Commute times vary from 5-35 minutes from these areas.
Search for Homes for Sale Near Fort Carson
Fountain, Security/Widefield
Due to its close location to the base and an abundance of affordable housing, Fountain and Security/Widefield are one 
of the most popular choices for Fort Carson Relocation. Directly East from I-25 , Fountain is a vibrant growing community. Fountain is located 10 miles south of Colorado Springs and the Fountain Valley area also includes Security and Widefield; which are located in-between Colorado Springs and Fountain. Commute times to Fort Carson range from 5-20 minutes. Some of my favorite neighborhoods in the area are the Glen at Widefield, Windmill Mesa, and Clearview Estates.
Cheyenne Mountain in Southwest Colorado Springs
Cheyenne Mountain is on the southwest side of Colorado Springs, just north of Post. Part of the area is included in one of the most poplar school systems, District-12, Read the rest of this entry »
Top 6 Colorado Springs Short Sale Questions Answered
Top 6 Colorado Springs Short Sale Questions Answered
Are you considering selling your home by means of a short sale, but have lots of questions? If so, read on ……
Interested in selling your house as a short-sale? Email Kathy Torline KTorline@msn.com or call 719-287-1049
(1) I want to do a short sale and have a 2nd mortgage, does this make me ineligible? 
(2) Do I have to miss a payment to do a Short Sale?
No, not necessarily. Some lenders will accept short sale offers from sellers who have never missed a payment. But most lenders don’t seem to pay much attention to a seller and a request for a short sale when a payment has not been missed.
(3) How does a listing agent get paid a commission?
The bank will pay the commission along with all the other usual closing costs. Read the rest of this entry »
What is allowable for VA Seller Concessions?
VA Loans – Part II
Must Read posts: 6 BIG advantages of VA loans
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
Must Read Article: 6 BIG advantages of VA loans
One of the biggest areas of confusion about VA loans is the Seller Concessions. In the recent class I was in where the instructors were from the Denver VA office, they did a great job of explaining what can and what can’t be used as 
part of Seller Concessions.
VA Mortgages have a limit of 4% of the Appraised Value that the seller can contribute to a buyer on a VA purchase without it being considered excessive. For VA purposes, a seller concession is defined as anything of value added to the transaction which the buyer pays no additional amount and which the seller is not customarily expected to pay. Some examples of concessions include seller payment of the following:
- Buyer’s VA funding fee
- Buyer’s prepaids (Taxes and Insurance) Read the rest of this entry »
Market in Northwest Colorado Springs is almost foreclosure free
Homes in Colorado Springs – Northwest
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Market breakdown for Active Homes as of 5-18-09
Neighborhoods: Homes in Pinecliff, Mountain Shadows, Rockrimmon, Oak Valley, Centennial Glen
Active homes for sale
- Short sales: 5 (1.6%)
- Bank-owned: 5 (1.6%
- Regular: 300 (96.8%)
Active Homes for Sale as of 5-18-09 :
- Single Family Homes: 218 (70%)
- Condos/Townhomes/Patio Homes: 92 (30%) Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of May 9th
Saturday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of May 9, 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Partial list of NEW Colorado Springs Foreclosed homes currently on the market Read the rest of this entry »
Manitou Springs Luxury townhomes
Luxury townhomes in Manitou Springs
Search for luxury townhomes in the Colorado Springs Area
Must Read Articles
I we
nt and previewed some luxury townhomes in Manitou Springs this week. It’s always fun to look at some new properties that I’ve never seen, always something new to learn and something new to see; one of the many great things about re
al estate.
The first set of townhome I looked at are called the Cogway Townhomes. For those of you who don’t live in the area, one of the biggest tourist attractions in the area is the Pikes Peak Cog Train, and these townhomes are right off of Ruxton, the main road very close to the Cog and to the Manitou Incline, another local landmark in the area. There is only 1 unit completed and it looks like there are 6 or 7 more to be built; foundations are poured for some and 2 more of them have all of the framing done on them.
The property I previewed was a 4 bedroom, 3 bath unit with a 2 car garage
e, priced under $400,000; and it was done exceptionally well. As you walk in the unit there is a small entryway; and then you walk up 10 – 12 step to the main floor where you are greeted with Brazilian Hardwood Floors (at least that’s what I think the floors were made of.).
Kitchen was wonderful; bright and open, stainless steel appliances with granite countertops. Great views of the surroundings mountains in Manitou Springs, although these views may change once the remaining units get built. The living room has a gas fireplace with an inviting window to sit in and enjoy the view.
There seemed to be bedrooms everyplace (4 of them); Read the rest of this entry »
6 BIG advantages of VA loans
VA Loans
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Must Read Articles:
- NORAD is still alive and smaller under Cheyenne Mountain
- After fierce competition Colorado Springs finally lands the Air Force Academy
- An early history of Ft. Carson
- History of Ft. Carson part II
- Military relocation? 6 tips to read before you buy a home
- Relocating to The Air Force Academy? Here’s some great info to make your move easier.
I went to a training class last week on VA loans and came across all types of valuable information I wanted to share with our Colorado Springs home buyers. (I’m a strong believer that a Realtor needs to constantly increase and update their knowledge about all things real estate, never can learn too much.)
Since Colorado Springs is surrounded by military bases (Fort Carson, Peterson AFA, Schriever AFA, and the U.S. Air Force Academy 
) ; as well as there are many military retirees in the areas, VA loans are very popular. The stats show that 30% of all loans in the area are VA Loans.
Advantages of VA loans
When a Colorado Springs home buyer is trying to decide what type of loan they are going to use, it’s important for them to understand some of the advantages of VA loans:
- No down-payment requirements.
- There are not many loans left that don’t require a down-payment
- No monthly MIP
- MIP is the abbreviated term for the Mortgage Insurance Premium that many FHA loans and Conventional loans add to your monthly mortgage payment
- Assumable Mortgage
- This could be really important in the future if interest rates start to rise; it could make it much easier to sell a property and have a new buyer assume the existing loan
Read the rest of this entry »
- This could be really important in the future if interest rates start to rise; it could make it much easier to sell a property and have a new buyer assume the existing loan
Colorado Springs Foreclosure listings in CENTRAL area as of 5-14-09
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in Central
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
Neighborhoods: Homes in Ivywild, Old North End, Patty Jewett, Divine Redeemer, East End Addition, Crown Hill Mesa, Boulder Heights, Spring Creek
Breakdown of homes for sale, INCLUDING FORECLOSURES
- Short sales: 40 (9.9%)
- Bank-owned: 22 (5.5%)
- Regular: 341 (84.6%)
Active Homes for Sale: 403
- Single Family Homes: 295 (73%)
- Condos/Townhomes/Patio Homes: 108 (27%)
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
Colorado Springs Foreclosure listings in Old Colorado City area as of 5-12-09
Old Colorado City – Market breakdown for Active Homes as of 5-11-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com Search for Homes in Old Colorado City
Active homes for sale:
-
Short sales: 12 (6%)
-
Bank-owned: 8 (4%)
-
Regular: 179 (89.9%)
Active Homes for Sale as of 199
-
Single Family Homes: 133 (67%)
-
Condos/Townhomes/Patio Homes: 66 (33%)
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
Old Colorado City housing market remains strong
Colorado Spring Real Estate – Market Report for Old Colorado City - Single Family Homes
Includes Crown Hill Mesa, Gold Hill, Old Colorado City
Search for Homes in Old Colorado City
The Old Colorado City housing market continues to be a Buyer’s Market, as there is currently a 8.3 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET“. Sales are down 22% from 2008 to 2007, but 2008 pricing was only down 1.5% from 2007. In the first 4 months of 2009, sales are continuing at a stronger pace than 2008.
Moving to Colorado Springs, don’t forget to get your new Driver’s License
Don’t forget to get your Colorado License
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
Must Read Articles
One of the many things to do when moving your entire house from one state to another is to remember to register your vehicle in Colorado and get your Colorado Driver’s License.
After becoming a Colorado resident, you have 30 days to qualify for a Colorado Driver’s license and 90 days to register your vehicle.
Colorado Driver’s License
When heading to the Colorado Department of Motor Vehicles (DMV), bring the license from your former state 
as you will be required to surrender it in order to obtain the new license. There is no written exam or road skills testing required to change a valid out-of-state license to a Colorado Driver’s license, however you will need to pass the vision test. If your out-of-state driver’s license has expired, you may be required to apply for a STATE learners permit and pass all required testing to receive a driver’s license. The identification requirements are posted on the Colorado Department of Revenue Web site. There are several DMV locations in Colorado Springs:
- 4420 Austin Bluffs Pkwy., Colorado Springs, CO 80918 M-F, 8 a.m. – 5 p.m. (719) 594-8701
- Chapel Hills Shopping Center 1710 Briargate Blvd., Colorado Springs, CO 80920 M-F, 8 a.m. – 5 p.m. (719) 520-6240 Read the rest of this entry »
What type of house do you like?
Colorado Springs Houses
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
I work with a lot of Colorado Springs first time home buyers, and I often ask them what type of floor plan they would like in a home. When I ask the question, I often see a blank look in their face; and I realize that first time buyers really don’t know what type of floor plan they like or don’t like; consequently I thought it would be helpful to put together some information on advantages and disadvantages of different types of house floor plans.
Ranch houses
- Sleeping and work areas are on one level; eliminating the need for stairs climbing. Can be well suited to baby boomers or seniors
- The exterior can be easy to reach and easy to maintain, although if it is built on a sloping lot with a walk-out basement, it can be more challenging to maintain
- Can be more difficult to provide privacy, since the house is on one level
- Takes more space to accommodate the same gross living area
- More expensive to build
Two Story - has a living space on two separate floors, stacked on top of each other
Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of May 9th
Saturday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of May 2, 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn 
Partial list of NEW Colorado Springs Foreclosed homes currently on the market Read the rest of this entry »
Must know facts about buying a Colorado Springs short sale
Colorado Springs Short Sale Buyers need to know facts
Related post: Buying a short sale vs. a foreclosure, what’s the difference? and 5 things to know about buying a short sale
For a FREE List of Foreclosures and Short Sales email Kathy Torline at KTorline@msn.com
Good Deals: YES, this is a good opportunity for the buyers. NO, this is NOT a foreclosure!
Offers for a Short Sales YES, you can make offers on what you think it is fair market price, but NO, you can not 
buy 50 cents on a dollar of what the owner pay for, unless the owner overpaid and/or the market has dropped 50%. Lenders will not approve a short sale below fair market value. Buyers, if you are planning to buy a Short Sale property, please manage your expectation.
Time Frame For a Short Sales: YES, you have to be patient, as part of the process. The Short Sales sellers have to submit a Short Sales Hardship package, and both buyers and sellers will have to wait. NO, you cannot expect bank to get things done faster; they work on their own timetable.
In the case of Short Sales, the Buyer has to wait Read the rest of this entry »
Colorado Springs Foreclosure listings in the Southwest area as of 5-6-09
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in Southwest As of 5-4-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com. Search for Homes in SouthWest Colorado Springs
Neighborhoods: Homes in Cheyenne Meadows, Stratmoor Village, Skyway, Broadmoor, Broadmoor Bluffs, Quail Ridge
Active homes for sale, INCLJUDING FORECLOSURES
- Short sales: 24 (5.3%)
- VA Owned: 1 (.2%)
- Bank-owned: 15 (3.3%)
- Normal: 412 (90.9%)
- Government Owned: 1 (.2%)
Foreclosures near Fort Carson
Diamonds in the rough near the Broadmoor – Part II
Search for Foreclosures in Colorado Springs and Fort Carson
My favorite affordable foreclosed homes of last week was on Whistler Hollow Drive on the
East side of Highway 115 in the 80906 zip code. It’s been listed since July 2008, and is currently banked owned. It looks like it’s been under contract a couple of times, but the contracts mus
t have fallen through. The original price started at $240,000 and is now priced at $230,000. When we previewed it last week, new carpet had been put in it and new paint had just been completed on the main level. It’s a 2500 square house with 4 bedrooms, 4 baths with a main level master. There doesn’t seem to be any other houses for sale in the area. Convenient location close to the main gates of Fort Carson.
We then saw a “tree house” in the foothills behind the Broadmoor, in Dixon Heights. It was extremely unique, not sure how else to explain it. Definitely a retreat in the woods; back behind the Broadmoor, the house was mostly built on stilts. As is typical
Homes in Southwest Colorado Springs continues to be a Buyers Market
Colorado Spring Real Estate – Market Report for Southwest, Close to Fort Carson
Single Family Homes – Includes Broadmoor, Cheyenne Meadows, Bluff Bluffs, Quail Ridge
Search for Homes in Southwest Colorado Springs
The Southwest housing market continues to be a BUYERS Market, as there is currently a 9.425 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “BUYER’S MARKET“. 2008 Sales units are down 25% from 2007, but 2008 pricing is only down 10% from 2007.
Diamonds in the rough near the Broadmoor
Luxury Foreclosures near the Broadmoor
Search for Luxury Foreclosures in Colorado Springs
I previewed a variety of interesting bank foreclosures last week in Southwest Colorado Springs, including some homes in the Broadmoor area.
My tour for the week started at a wonderful home in Broadmoor Ridge priced at $269,900. As I started to write this blog today I went back to check some of the info on the property, and it is now under contract. I didn’t think it would last long on the market, as comparables in the area are going for $350,000 to $700,000.
Our second home of day was another luxury foreclosure home in Broadmoor Hills on Oakhurst Lane that has structural damage. The last time it sold in 1996 for over $500,000. The property has amazing views from every window, a 2 story atrium, all on a 1/2 acre lot. Since the last sale in 1996 it looks like it has been listed and withdrawn 7 or 8 times; and it’s been foreclosed on 2 or 3 times. Read the rest of this entry »
Open House tips
It is Open House Season
The following information is the forth in a series of Buyer Tips to provide tips for both the first-time home buyer and the most experienced home buyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area. This article includes tip #10.
For a FREE Buyer’s Guide, Email KTorline@msn.com
Many Colorado Springs Realtors hold open houses; and do so on many weekends during the spring and summer 
time. It can be a great way for a Realtor to get additional exposure for their sellers and it can also provide a way for Realtors to meet other potential buyers and sellers.
Also, many potential home buyers like to visit open houses. It’s a great way for them to get educated about the marketplace and to see a wide variety of homes in different neighborhoods. It helps them to see what is for sale.
When a buyer visits an open house; it’s important for them to understand who the Realtor is representing. (See my previous article about Who is Representing You?) Many people visiting an open house; don’t realize the Realtor at the open house may ONLY be representing the Seller.
In Colorado, potential clients can be represented 3 different ways, as a Buyers Agent, as a Seller Agent, and as a Transaction Broker. (See my previous article on Buyer Representation.) As a potential home buyer Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of April 25th
Saturday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of April 25th , 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
