Colorado Springs Vintage Homes Blog
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Archive for October, 2009
Banks, how low will they go?
WHAT CAN I EXPECT TO PAY?
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
I am consistently asked by buyers how much they can expect to pay for a Colorado Springs foreclosures. My research shows that short sales and foreclosure sell for right around 97% to 99% of the list price. If you think you will get a C
olorado Springs foreclosure or a Colorado Springs short sale for 50% off, you are wrong and wasting your time. These homes are already priced aggressively and ready to move. When you look at the SOLD price for the different categories, bank-owned home sold for 31% less than the “normal” sales in Colorado Springs Here’s a quick recap of September Sales:
Colorado Springs Foreclosures September 2009
- 114 Foreclosures Sold (14% of the total sales for the month)
- $147,189 Average Sales Price
- 99% Sold for Price vs. List Price
- Average days on market: 58
Colorado Springs home Improvement — it’s all about the windows
Windows
Colorado Home Improvement Part I
With a major snowstorm in the works in Colorado, I thought it may be a good time to talk about windows — as they are an investment in your home. If you are considering purchasing new windows, here are some ideas and tips you might consider:
Reasons to replace: If your house has ugly, older aluminum, steel or cheap warn wood windows, replacing your windows can definitely enhance your home as well as provide a major energy savings. There may also be all types of other reasons you want to replace them …….if you only have single pane windows …… if they are cracked ……..if the seals are broken ……. if you can feel a cool breeze around them.
In the Colorado Springs area, there were may houses that were built in the 80’s that included lower quality wood windows. When you look at these homes now, many of the the windows don’t slide open, and the wood has warped; hence some of the seals are broken. I can’t imagine they are very energy efficient. All good reasons to look into replacing them. Also, some studies show that 25% to 40% of the heat in your house could be reduced with a window replacement.
Materials: There are many, many different options including wood, clad wood windows (wood on the inside and vinyl or aluminum on the outside), vinyl windows, aluminum windows, and steel windows. Each type has different benefits and costs associated with them. Read the rest of this entry »
Colorado Daylight savings — when do we change our clocks?
Daylight Savings 2009 in Colorado
It’s that time of the year again, Daylight savings goes into affect next Sunday, November 1st
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
The U.S. begins Daylight Saving Time begins at 2:00 a.m. local time on the second Sunday in March and reverts to Standard Time at 2:00
a.m. on the first Sunday in November.
Here’s some facts
- Daylight Savings time is not observed in: Hawaii, American Samoa, Guam, Puerto Rico, the Virgin Islands, the Commonwealth of Northern Mariana Islands, and Arizona. The Navajo Nation participates in the Daylight Saving Time policy, even in Arizona, due to its large size and location in three states.
- The official name is Daylight Saving NOT Daylight Savings.
History Tidbits about Daylight Saving Time
- Benjamin Franklin is thought to have come up with the idea for daylight-saving time in 1784. In a whimsical letter to a French journal, he said that Parisians could save thousands of francs a years by waking up earlier during the summer because it would prevent them from having to buy so many candles to light the evening hours.
- It originally was started during World War One to save fuel by decreasing the use of artificial lighting in homes and workplaces. Although some people still observed Daylight Saving Time between World War One and World War Two, it was not officially observed nationally again until the beginning of World War Two.
It’s time to fall back
If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
Abandoned pets are foreclosure victims
Don’t leave your pet behind
many buyers who are looking at buying a bank-owned foreclosed homes. As I walk into houses that are now bank-owned, I often wonder what happened to the previous owners of the house; what happened to their kids; their jobs. their pets. I always hope they are able to pick up their lives and start over.There are Options for pets
Open house in Manitou Springs on Saturday, 10-24-09
Come see a move-in ready home in Manitou Springs
Search for Homes in Colorado Springs and Manitou Springs
Kathy will be at an open house this weekend on Saturday from 12:00-3:00pm, you can stop by and see her at this home at 43 Karen Lee Lane in Crystal Hills in Manitou Springs.
This 3 bedroom 2 bath custom designed home is over 2,000 square feet on a idyllic manicured lot.
There are magnificent views of Garden of the Gods from the neighborhood.
Signs of Stability In the Colorado Springs Townhome Market
Colorado Springs Townhomes
Market update for September 2009
Search for TownHomes in Colorado Springs
Must Read Posts:
The Colorado Springs Townhome market continues to be a BUYERS Market, as there is currently an 8.1 month of supply of homes on the market, but the supply of townhomes on the market continues to decline, which is a sign of stability. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. 819 townhomes have been sold in 2009 vs. 869 for the same period in 2008; a decrease of 6%. Average Pricing has continued to decline from 2009 to 2008.
Foreclosure pick of the week
Colorado Springs Foreclosure pick of the week
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
My pick of the week is in Palmer Lake on 18710 Cloven Hoof Drive.
It includes over 1500 square feet, with 2 bedrooms, 1 baths, 2 car carport
The property is hidden back off of the road; and if it’s seclusion you want this is the property for you. Like many foreclosures I preview, this one hasn’t had much updating done to it; as well as it needs some additional TLC. It reminded me of a tree house; stuck in the woods with trees everyplace.
It’s on a wonderful wooded lot, but you have to drive up a rutted dirt road to find the place. Definitely secluded and hidden. No garage, but the house is built over a carport; so with some construction expertise you could probably enclose the carport and make it a garage.
The kitchen cabinets looked very well constructed, as at one time I’m sure they were very nice.
Do you want to do some green remodeling?
Thinking about going green in your house?
If so, here’s some of my favorite websites to check out:
(1) GreenandSave.com’s slogan is simple and direct – “Saving your Money and the Planet”. If you have ever wondered whether a certain “green” repair or improvement is worth it, then this is the website to go to.
- The Master ROI page: For a statistic lover like me; this is an amazing page under the green tune-up section. If you are looking at putting in a programmable thermostat, it shows you that the payback time in years is .6, added cost $115 with an annual savings of $180.00. It also compares things like Hot Water Heater Blankets, Dishwashers, Water efficient toilets, and water filters; all in the same chart format.
- This page also has a section on green remodeling which includes major type GREEN improvements and highlights info on furnace replacements, water heater replacement, insulated walls, and windows. According to the site, it shows the cost of a hot water replacement at $150, annual savings of $48, return on investment 32%. You can also click on Read the rest of this entry »
Do you know what your townhome insurance covers?
Condominium/Townhome Insurance
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Related Post:
If you own a Colorado Springs townhome or condo, have you looked at your homeowners insurance lately?
Some Colorado Springs Townhomes and Condos do not have an organization providing insurance for buildings, maintenance or 
common areas. In this case, each unit is considered a single-family residence and standard homeowners insurance applies.
Other complexes have a Homeowners Association (HOA) where you pay a monthly fee. Part of the fee goes to cover the Master Insurance Policy on the structure of the building. As the owner of a condominium or townhome, you are responsible for everything from your interior walls inward. In the event of a total loss Read the rest of this entry »
Quaint small town restaurant in Palmer Lake
The Depot in Palmer Lake
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New Foreclosure listings hit the market
NEW Foreclosure Listings in Colorado Springs as of October 17, 2009
During the first two weeks of October, only 38 bank-owned properties came on the market; 15 (39%) of them are already under contract.
Homes in Fountain and Homes in the Powers area are still continuing to see more foreclosures than other areas of the city.
For a FREE list of up-to-date Foreclosure Homes in Colorado Springs, Email KTorline@msn
Read the rest of this entry »
Preparing your home for a home inspection – Advice for Sellers
Time to get ready for a home inspection
I’m booking yet another home inspection for a client next week, hence the idea for an article about what sellers should do to prepare for the inspection.
To start with, most sellers get a little bit nervous when the home inspection is scheduled. As many people know, a home inspection can make or break your Colorado Springs Real Estate sale.
Although there’s not much that can be done regarding the unknown, there are a few simple tips that can make the home inspection 
process a bit more pleasant:
- Clean up! This may sound simple, but the first thing a seller should remember is that a home inspector’s first impression of your home can create an impression in his or her mind. A clean house, for example, evokes a feeling that the homeowner takes pride in his or her home and that basic maintenance has been taken care of.
- Connections! Leave utilities and water connected, even if the house is vacant. A home inspector will need access to the water, the gas and the electricity to test your home’s appliances, furnace, hot water heater, air conditioner, etc. Read the rest of this entry »
Are prices starting to stablize?
Colorado Springs Homes — Average Sales Price Comparison
Search for Homes in Colorado Springs
The Colorado Springs Real Estate market continues to be a a BUYER’s market for single family homes in most neighborhoods. But it’s important to remember that real estate is regional, and varies on a neighborhood by neighborhood basis. Prices have continued to move downward, but they seem to have stabilized. The current prices are similar to where they were in 2004 and 2005.
Get a Free Market Analysis on your Home, Email KTorline@msn.com or call 719-287-1049
Read the rest of this entry »
How to choose a Buyer’s Agent
How do I find a Buyer Agent?
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Finding homes for sale in Colorado Springs can be overwhelming task, especially for first time buyers. So, how do you go about selecting a Buyer’s agent to help you?
For starters you may want to put together a check list of questions to ask potential agents.
- How many transactions did you complete last year?
- Do you primarily work with buyers ?
- What is your commission? How do you get paid?
- Do you work as a Buyer’s Agent? Have you had any special training to work with buyers?
- Do you have recent references I can contact? Read the rest of this entry »
The numbers show the Colorado real estate market is improving
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Explanation of Days on Market
One of the many ways all Realtors judge their local real estate market is by the Days on Market. If properties are selling quickly, the market is heating up. If homes take a long time to sell, the market is slow.
Let’s first start with some definitions: Days on Market (DOM) in real estate is defined as the number of days a property has been on an Active status in the Multiple Listing Service. The average days on market for single family homes in Colorado Springs for the last quarter ending September 2009 is currently 77 days. For Condos and townhomes it is 97 days.
But an important thing to remember is this number varies on a neighborhood-by-neighborhood and it also varies by different price categories. As an example:
- Briargate Days on Market: 80 (vs. 99 in 2008)
- Central Days on Market: 64 (vs. 79 in 2008)
- Manitou Springs Days on Market: 75 (vs. 124 in 2008) Read the rest of this entry »
What is the MLS?
What is the Pikes Peak Multiple Listing Service (PPAR)?
Search for Homes in Colorado Springs
One of the acronyms that most Realtors in Colorado Springs use is “MLS”. When you are in any industry, you get used to using the 
common acronyms of that industry and forget your clients and customers may not understand your jargon.
Let’s start with the definition: MLS stands for Multiple Listing Service. The MLS is a shared computer database accessed by the majority of local Colorado Springs Realtors. It contains detailed information on thousands of listed properties (including land) for sale in the area.
Think of the the MLS as a big property warehouse – sort of like a “Wal-Mart.” When property is available for sale, it goes in the warehouse. When it is sold, it gets taken out of the warehouse.
Pop off the Popcorn ceiling
Popcorn Ceilings gotta go
Search for Colorado Springs Homes
Related post: The pictures tell the story
One of my least favorite features in a house is a popcorn ceiling; and many of my clients who are looking at buying seem to feel the same way. They are many reasons to get rid of it, but here’s my top reasons:
- It’s dingy
- If it’s not painted,it fades
- It can get stained easily
- It can start flaking off
- It attracts cobwebs, dirt, and soot
- It’s the mark of an older home
- AND, most importantly it’s ugly
Some Realtors (including myself) think popcorn removal is one of the best improvements to do to a house before selling.
Here’s some important steps to keep in mind
The most important step before you start Read the rest of this entry »
Foreclosure pick of the week in Southwest Colorado Springs
Colorado Springs Foreclosure pick of the week
Search for Colorado Springs Foreclosures
Related Article: Foreclosure pick of the week in Northwest Colorado Springs
My foreclosure pick of the week is in Southwest Colorado Springs on 1825 Parkview Blvd. It’s located in a nice established area in Skyway in District schools, on a wonderful lot, set a little bit back from the main road. It includes over 3600 square feet, with 5 bedrooms, 3 baths, 2 car garage.
One of my favorite features was the hardwood floors, and of course I love main level living ranch homes with walkout basements. At first glance, it looks like the property has been well maintained. The property could use some updating and would look much better with granite counter tops and changing out the linoleum floor in the kitchen. It has a nice 5 pc. master bath with an easy to maintain tile floor. The only thing I thought was odd is Read the rest of this entry »
It’s a shame
It’s a shame when the photos are bad
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Related post: The pictures tell the story
I’ve been looking at lots of homes in Colorado Springs lately, and it’s been a good reminder for me on how important the photos are.
The current statistics say that somewhere between 85% and 95% of buyers start their search on the internet; which means many potential buyers make decisions about a property from the MLS description and the photos. Since I provide real estate services to both buyers and sellers, it really reminded me on how important the photos are. It also was a good reminder that you can find a great property for a client, even though the photo didn’t do it Justice.
Photos help make showing decisions
Some of the recent homes I’ve been looking at are in the $250,000 to $350,000 range in Northwest, North, and Northeast neighborhoods. A couple of these properties had outside photos of the properties that were not very good. In fact, my client and I originally didn’t look at these properties partially because of the photos. (I’m sure the sellers would hate to hear that — but, it’s true.)
Since I’m a photographer as well as Realtor, I understand how hard it is to take good shots of a property. All kinds of things get in the way for the outside shots, and mostly it has to do with the landscape, lighting, and angles. Here’s a couple examples of what I consider bad photos.
Current Picture — makes the home look very modernistic and small. Not very appealing
Previous Pic of property, shows how large it is. Yes it is the same property. even though this pictures was taken in the fall, it is still a better representation of the home
What can you buy for $1,000,000 in Colorado Springs?
Market Report for $1,000,000+ homes
Have you ever wondered what homes have recently sold in Colorado Springs in the higher end market?
Overall, there were 2 sales topping $1 million during the month of September 2009.
Related Post: What can I buy for $100,000?
- 8 Berthe Circle – Sold on September 28, 2009 for $1,025,000
According to the description in the MLS: Charming interior. Main level living with beadboard ceiling
s & hand-hewn beams. Entry with brick floor. Great room open to private patio w/brick gas grill & fireplace . Kitchen with hand painted Portuguese tiled counters & fireplace, Big master with peaked wood ceiling, fireplace, private deck, 3 big walk-in closets & updated bath. Secondary bedrooms have interesting slant ceilings & alcoves. Dog run. Private enclosed deck in back.
Square Footage: 5,000
Days on Market: 110
