Colorado Springs Vintage Homes Blog
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Archive for February, 2010
Colorado Springs Short Sale – February Pick
Colorado Springs Real Estate — Short Sale pick
Search for Foreclosures and Short Sales in Colorado Springs
Related Article: Buying a short sale vs. a foreclosure, what’s the difference?
My short sale pick of the week is a home in Peyton on 12410 Motley Road.
It includes over 3624 square feet, with 4 bedrooms, 4 baths, and a 3 car attached garage.
If you are looking for a large house at reasonable price in Peyton; then this is the property for you.
The property was built in 2002; and was originally sold for $306,000. It is a two-story plan, and includes a finished basement.
The upsides….. large attached three car garage, nice corner lot, stucco exterior, very well maintained, on almost 1/2 an acre, additional curved driveway, move-in ready.
The description in the MLS Says: “Must see! Shows like a model! Spacious and open floor plan. Bay windows in dining room and kitchen. Walkout kitchen to raised wood deck, 99% finished walk out basement with custom wood bar and wired with surround sound. Vaulted ceilings, bull nose corners, covered porch, beautifully landscaped front and side yard with wrap around drive way, concrete sidewalk around home, dog run, storage shed. and may be adjusted by . “
How can I steal properties from the banks?
WHAT CAN I EXPECT TO PAY?
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
Related Articles:
Real Estate Auction Facts and Observations
Are Real Estate Auctions the wave of the future?
Contact KTorline@msn.com to get a FREE list of properties coming to auction and foreclosure properties
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As I’ve continued to learn more and more about real estate auctions, here’s some more of my observations: 
- As far as I can tell, you can’t find the bid statistics on properties that sold at recent auctions. I would love to see exactly what some of the properties from last Tuesday’s auction in Golden, Colorado actually went for. I tried to write down the final bids while I was at the auction, but the next property came up for bid so fast, it was hard to keep up. The statistics would be very valuable, as it would be helpful to see the actual sold price vs. the valuation price.
- Some auctions are online only. As an example, right now there is online auction for Colorado Springs homes on www.auction.com. All of these properties seem to be properties that went for sale last week at the auction I attended. Some of these properties didn’t get bid on it, or they got bid on and the financing must not have went through and they are now back on the market.
- Most of the auctions seem to have a Buyer’s Premium. Read the rest of this entry »
Kitchens are #1 for buyers
What do homebuyers want?
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The following was provided by AVID Ratings Co., a firm that provides surveys and employee training to home builders across the United States 
and Canada. They conducted this annual survey of home buyer preference at the 2010 International Builders Conference in Las Vegas. Definitely includes some interesting insights:
- Large kitchen with an island — no surprise to me that this is #1 on the list
- Also, some of the top kitchen and bath trends according to a designer survey conducted by the National Kitchen & Bath Association include cherry as the top choice for kitchen cabinets, ceramic and porcelain tile for the flooring, under-counter refrigeration, and flexible faucets.
- Energy efficient appliances and energy efficient windows
- Home office/study – I wonder if this has more and more to do with people working at home, vs. commuting to an office
- Main Floor master suite — Is this a result of the baby boomer population aging?
- Outdoor living room – One of my personal favorites
The other top 10 features included Ceiling Fans (I found this one surprising to be included on the list), master suite soaker tubs, stone and brick exteriors, two-car garage, and community amenities.
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Kathy (719-287-1049) KTorline@msn.com
7 things to know about Real Estate Auctions
Colorado Real Estate Auctions — the wave of the future?
Contact KTorline@msn.com to get a FREE list of properties coming to auction
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I went to my first Real Estate Auction on Tuesday night where they auctioned off 55 homes that were located all over Colorado. All of these properties were owned by the bank and the banks had decided to sell them by auction. H
ere’s some of the interesting things to understand if you are going to go to an auction like this.
(1) Do you homework up front. Preview the property, understand the amount of any repairs that need to be done, get quotes from contractors if there is work to be done. Do your due divergence.
(2) Get registered for the auction. If you don’t register in advance, it’s too late to attend.
(3) Figure out how you are going to finance the property. If the property says that it is going for cash only, chances are you can’t get financing on it.
(4) On the day of auction, get your certified check from your lender. The auction company required to see a copy of our certified check before we could check-in on-site at the auction. We also had to bring a blank check with us; as if we would have got the winning bid, we would have had to write a check for the rest of the downpayment.
(5) Make sure and bring a picture ID with you; again we had to show proof of who we were.
(6) When the bidding starts, pay attention. It does go quick and fast. You could very well be bidding against other people in the room as well as Internet bidders.
(7) Stay to the end of the auction; as several properties were sold but then the potential buyers couldn’t secure financing, and they came back up for sale.
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Kathy (719-287-1049) KTorline@msn.com
Tax Credit for military personnel
Tax Credit for military personnel
Must Read Posts:
- Government and Military are #1 employers in El Paso County
- Relocate to an Award Winning City in the Colorado Rockies
- Relocating, it’s all about the schools
- High Altitude Tips
- Moving to Colorado Springs, check out Zip Skinny
Military families stationed at Fort Carson, Peterson AFA, Schriever AFA, and the U.S. Air Force Academy and other military installations in the Colorado Springs Since Colorado Springs will be glad to learn that 
the First Time Home Owner Tax Credit has some wonderful additional benefits for the military. Here’s some of the highlights:
- Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. Read the rest of this entry »
NEW Colorado Springs Foreclosure Listings
Where are the Colorado Springs foreclosed homes?
During the first two weeks of February , 52 foreclosures came on the market; 10 (16%) of them are already under contract.
Homes in Southeast Colorado Springs and Homes in the Powers area, Homes in Fountain, and homes in Northeast 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
Calling all Colorado Springs foodies — don’t miss this
Denver Restaurant week — Sat. Feb. 20 – Fri. March 5
Denver Restaurant Week is an annual event – a Colorado favorite. It’s now in it’s 6th annual celebration, and it’s been changed to be a
two-week celebration of the culinary scene in Denver. Participating restaurants will offer a multi-course dinner for the fixed price of $52.80 for two, or $26.40 for one (not including tax or gratuity). Yes, I did type that correct, $52.80 for two. What a deal.
When you go to official the web site, you can search by cuisine, by neighborhood, or by all restaurants. I don’t know how many restaurants are participating this year; but last year there were over 225 restaurants involved.
Since I live just as close to Denver as I do to Colorado Springs, we’re definitely going to go take advantage of the great specials and try out some new restaurants. But for my Colorado Springs readers, Denver is an easy 60 minute drive from Colorado Springs, don’t miss these great restaurant specials. Use is for an excuse to try something new and different.
Here’s the top 3 restaurants on my list:
Root Down I’ve heard great things about this restaurant, so it’s definitely on my list. The reviewers say “It has a terrifically hip, stylish décor — studied yet casually fun. It touts that locally farmed and organic products are used whenever possible. It recycles everything. Oh, and the food is downright impressive.” Read the rest of this entry »
Foreclosure Pick of the Week
Colorado Springs Foreclosure pick of the week
Search for Foreclosures in Colorado Springs
Related Article: 9 key things to know about buying a bank repo
My foreclosure pick of the week is in Pinecreek in Briargate on 10181 Oak Knoll Terrace.
It includes over4500 square feet, with 4 bedrooms, 3 baths, and a 3 car attached garage.
If you are looking for a BIG house at reasonable price in Briargate area; then this is the property for you.
The property was built in 2005; and was originally sold for $478,000. It has a ranch floor plan, and includes a finished basement of 2249 square ft.
The upsides….. large attached three car garage, District 20 schools, laundry on the same level as the master bedroom, open floor plan, separate dining space, main floor office, newer built, upgraded gourmet kitchen, hard wood floors in the kitchen and dining room. Overall a very nice property.
What really happened to our prices?
Colorado Springs Housing Report
Search for homes in Colorado Springs
Must Read Articles
- Schools in the Colorado Springs Area
- High Altitude Tips
- Trees make a neighborhood special
- Relocating, it’s all about the schools
- Government and Military are #1 employers in El Paso County
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Kathy (719-287-1049) KTorline@msn.com
Learn the Colorado foreclosure process, it’s different
Buying a Colorado Springs Foreclosed Homes — important to understand the trustee process
As a student of Foreclosures in Colorado, both to help sellers facing foreclosures, and to assist buyers looking to buy a Colorado Springs foreclosure, I’m always trying to learn more about the foreclosure process in Colorado. I attended a class this week
taught by Pete Griffiths, the in-house legal counsel for Land Title. Very good instructor, and definitely understands the legal process of foreclosures in Colorado Springs. Here’s some of the things I learned in the class that I thought I’d pass on.
- There was 50,514 foreclosures in Colorado in 2009.
- Legally, the definition of foreclosure in Colorado for contract purposes, is defined as a homeowner who is 30 days behind in their payments.
- Colorado is the only state that has a Public Trustee, whose duties are defined by statute.
- If you are the successful bidder on a foreclosed home at at the Public Trustee auction, you don’t automatically own the property. There are redemption periods for junior lien holders. Only at the end of the redemption periods (if junior lien holders don’t redeem) will you officially be the owner of the property.
- The majority of junior liens are “wiped out” if you are the successful bidder at the Public Trustee sale, but not everything goes away. it’s important to partner with a good title company who can give you information about other liens on the property including HOA liens and tax liens.
Remember, make sure and do your research
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Kathy (719-287-1049) KTorline@msn.com
Celebrate a time of love and friendship
Valentine’s Day in Colorado Springs
Also, make sure to check out one of their Romantic packages.Briarhurst Manor Estate
404 Manitou Ave in Manitou Springs
719-685-1864
Don’t just celebrate Valentine’s for a day this year – celebrate it for a whole week at Briarhurst Manor. They will be featuring a menu that incorporates a fare of “Love and Passion” with a pre fixe six course menu. (If you don’t make it for Valentine’s Day, maybe you’ll want to come for one of their Murder Mystery Dinners.)
Melting Pot
30-A Pikes Peak Ave. in Colorado Springs
719-385-0300
Looking for a special way to spend the most romantic night of the year? Then The Melting Pot is the place for you. You and your date can dip into four courses including a spinach artichoke cheese fondue, lobster, filet mignon, bananas foster, plus much more!
Choose Wisely
How do I choose a home inspector?
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- One way to find a good home inspector
- Top 5 Remodeling projects
- Free local money for home improvements
- Federal Tax credit available for remodeling
Since, I have several buyers who have recently have gotten contracts accepted to buy their dream homes, I thought it was good timing to
write a quick blog about home inspectors and inspections. Almost all REALTORS® (99%) recommend a home buyer to have a home inspection; as a good qualified home inspector is crucial to the home buying process.
There are lots of ways to find a good home inspector in Colorado Springs, and referrals are one of the best ways. Or you can look online, or check the local phone book. But regardless of which way you choose, here’s a list of potential questions you should ask before you hire the inspector:
- What are your qualifications? How long have you been in the business?
- What organizations do you belong to? Do you belong to the Better Business Bureau in Colorado Springs? (see previous article: Don’t forget about the Better Business Bureau)
- Do you have a list of past clients I can contact? Read the rest of this entry »
