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Archive for the 'For Sellers' Category
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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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
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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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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 »
12 things to know about the HAP Housing Program for military
Good news on the HAP Program
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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 »
134 questions for sellers to disclose
Sellers Should Disclosure all defects
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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 »
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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Kathy (719-287-1049) KTorline@msn.com
June 2010 Market report for Colorado Springs Townhomes
Colorado Spring Real Estate
Market Report for Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
Related Article:
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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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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Kathy (719-287-1049) KTorline@msn.com
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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To find out more information about Colorado 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 »
Price Per square foot has BIG variances in Colorado Springs
Colorado Springs realestate, pricing per square footage
For a free market analysis on your neighborhood and home, Email Kathy at KTorline@msn.com
Colorado Springs realestate is just like any other city in that average prices vary vastly in different areas. The local MLS (Multiple Listing Service) breaks down the City into different areas, and within each area there are many different neighborhoods. As part of putting together monthly market statistics, I also put together info on average price per square footage and average price per FINISHED square footage. As you can tell from the info below, average square footage pricing varies vastly in different parts of Colorado Springs. This information is a broad base guideline, as within each area, neighborhoods pricing can vary immensely.
The southwest area, which includes homes in The Broadmoor Area, and homes in Manitou Springs are the highest prices per square foot and homes in Old Colorado City are currently the cheapest per square foot. Homes in the Northeast area, which includes Vista Grande and Pulpit Rock are in the middle of the pack with an average price per square foot of $93.00.
| MLS Area | Average price per square foot | Average Price per FINISHED per square foot | Includes These Neighborhoods |
| Old Colorado City | $ 79.39 | $ 114.99 | Crown Mill Mesa and Gold Hills Mesa |
| Falcon North | $ 79.40 | $ 91.25 | Woodmen Hills |
| SouthEast | $ 81.51 | $ 89.26 | Pikes Peak Park, Soaring Eagles |
| Fountain Valley | $ 82.61 | $ 92.95 | Fountain, Security & Widefield |
| East | $ 83.92 | $ 97.43 | Rustic Hills and Village Seven |
| Peyton | $ 85.93 | $ 103.87 | |
| Central | $ 89.67 | $ 104.20 | Old North End, Downtown, and Patty Jewett |
| Power | $ 89.76 | $ 99.44 | Stetson Hills and Ridgeview at Stetson Hills |
| Black Forest | $ 92.76 | $ 140.90 | |
| Marksheffel | $ 93.13 | $ 98.90 | Meridan Ranch and Banning Lewis Ranch |
| Northeast | $ 93.48 | $ 97.96 | Pulpit Rock, Vista Grande |
| Woodland Park | $ 95.67 | $ 102.82 | |
| Ute Valley | $ 96.12 | $ 112.32 | Cascade and Chipeta |
| Northgate | $ 100.65 | $ 120.12 | Gleneagle |
| Tri-Lakes | $ 107.74 | $ 106.43 | Woodmoor, Kings Deer, and Jackson Creek |
| Briargate | $ 109.21 | $ 99.44 | Windjammer, Gatehouse Village, and Pinecreek |
| Northwest | $ 118.31 | $ 124.64 | Mountain Shadows, Rockrimmon |
| West | $ 119.36 | $ 150.30 | Kissing Camels and Pleasant Valley |
| Manitou | $ 121.25 | $ 159.55 | Crystal Hills and Crystal Park |
| Southwest | $ 126.48 | $ 110.60 | Broadmoor area, Stratton Meadows, Cheyenne Meadows |
This Colorado Springs Real Estate report contains information on Single Family homes in Palmer Lake.
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
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Kathy (719-287-1049) KTorline@msn.com
Why didn’t my house sell? Part II
Top 6 reasons homes don’t sell — Part II
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One of the most frustrating experiences that can happen to Colorado Springs home sellers is when they hire a Listing Agent and the house they are trying to sell sits on the market for months and months.
This experience is actually more common than you’d expect. It’s an awful experience for the Colorado Springs home seller.
Price is certainly the most important factor in selling a house; it trumps all other factors. But, there are several other reasons that your house may not have sold, here’s Part II of my list.
4. The flyers were cheap or they weren’t accessible to buyers
Remember the saying that perception is everything. A poor quality flyer on cheap flimsy paper will reflect poorly on the house; it can subconsciously make a buyer think it’s a cheap house. Black and white flyers do nothing to show the interior of your house; color flyers are the best option.
5. It was too hard for buyers to make an appointment to look at your house
It should be as easy as possible to show your house. The showing instructions should be clear, and the Showing Service should be available 7 days a week, 12 hours a day. Many Buyer’s Agents and buyers will look at 12 to 15 houses in one day, especially when they are from out-of-town. Hence, you want to make every effort possible to make your house easy to show with very little restrictions on the showings. Appointments with a couple of hours notice are fine, but appointments that require 48 hours notice can make the house impossible to show.
6. No Home Book in the house
When buyers are previewing your house, they want something they can turn to for answers. A Home Book is the solution, as it typically includes information about schools, HOA’s, covenants, local parks, and information from the assessor’s office.
Also, buyers will want to know about the condition of the house; when was the roof put on, how old is the furnace, are there any drainage problems? A copy of the Seller’s Disclosures and Square Footage Disclosure can also be placed in the Home Book or next to it.
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Kathy (719-287-1049) KTorline@msn.com
Why didn’t my house sell? Top 6 list of reasons
Top 6 reasons homes don’t sell — Part I
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One of the most frustrating experiences that can happen to Colorado Springs home sellers is when they hir
e a Listing Agent and the house they are trying to sell sits on the market for months and months.
This experience is actually more common than you’d expect. It’s an awful experience for the Colorado Springs home seller.
Price is certainly the most important factor in selling a house; it trumps all other factors. But, there are several other reasons that your house may not have sold, here’s Part I of my list.
1. The home photos were done poorly and there weren’t enough photos
The value of good photos can not be overstated. They are used over and over again, and most buyers and Buyer’s Agents make a decision to look at a home depending on the photos that show up on the MLS and other web sites.
2. Your home wasn’t marketed
Homes need to be advertised globally as well as locally. Proper marketing helps provide more exposure; which results in more showings and more potential offers. It’s important that the home is promoted on as many web sites as possible; the more exposure the better.
3. Your home wasn’t staged properly
Statistics continue to show that staged homes sell more quickly and for a higher price than homes that have not been staged. It’s a beauty contest once they get in the door; and good staging can help showcase your home.
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Kathy (719-287-1049) KTorline@msn.com
FHA loans and Condos — important to know the rules
Colorado Springs Condominiums
Search for Colorado Springs Condominiums
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Have you heard about the HRAP/DELRAP system? It lists condo developments that meet eligibility requirements set the Federal 
Housing Administration.
If you are interested in a purchasing a Colorado Springs Condo, your ability to get an FHA loan will depend on an “approved” rating by HRAP/DELRAP system.
DELRAP stands for Direct Endorsement Lender review and Approval Process and the rules aim to prevent risky loans. There are a variety of reasons that a complex may be labeled “rejected”:
- More than 15% of homeowners in a development are delinquent on the HOA dues (This could be the result of homeowners in foreclosure)
- One investor or entity owns more than 10 percent of the project
- Less than 50% of the project is either sold or owner occupied
- More than half of the homeowners have FHA loans
You can go to HUD’s web site, and search for information on specific communities, you can even search by zip code. I’m not sure that the database is fully populated, so some developments that deserve a “rejected” rating may still be added.
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Kathy (719-287-1049) KTorline@msn.com
New energy rebates available
Colorado Energy Rebates
- Top 5 Remodeling projects
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Since I recently just finished some core classes to get my NAR Green Certification, it has heightened my awareness on all things Green. Hence, when I saw the info on the new Colorado Program, I couldn’t wait to share it with all of my Colorado Springs readers.
www.rechargecolorado.com. There are statewide rebates on everything from appliances to hot water heaters.Under the program, a new, more energy efficient dishwasher will get you a $50 rebate, while the rebate for a water heater is $200. Before you buy, make sure the appliance is Energy Star certified. The rebates will be available until 2012 or the money is gone.
To get started, you must reserve a rebate online at www.rechargecolorado.com or by calling 1-800-462-0184. After you reserve a rebate, you have between 10 and 30 days to make your purchase, depending on the rebate. Then you mail back the rebate form, along with your receipt and you will get a check mailed to you.
In addition to that, the Colorado Springs Utilities also offers additional rebates for its customers, including items like windows, new furnaces, insulation and washing machines. For more information on their qualifications, visit www.csu.org.
Knowledge is power
Kathy (719-287-1049) KTorline@msn.com
How long should it last?
How Long Should an Appliance Last?
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Most appliances and small electrical products have expected life expectancies. Depending on the original cost, manufacturing quality, and how heavily it’s used, an appliance may last a longer or shorter period than 
shown in the latest National Association of Home Builders/Bank of America Home Equity Study of Life Expectancy of Home Components. This study was completed in 2006 and according to this article “The average life expectancy for some components has increased during the past 35 years because of new products and the introduction of new technologies“ I found many interesting facts in the article, including the average age of a house in the US is 32 years old.
As I talk to perspective Colorado Springs home sellers and show homes to buyers; I consistently find many wonderful houses that have never been updated. Their major components are on borrowed time; as the components of a house don’t last forever. Here’s just a small sampling of some of the life expectancy information included in this report:
- Life expectancy of a dishwasher …………..9 years
- Life expectancy of a furnace …………. 18 years Read the rest of this entry »
Smells don’t sell
Smells don’t sell
- A tech savvy realtor can help sell your home
- It’s all about the home warranty
- The pictures tell the story
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One of the most common and costly mistakes you can make when selling your Colorado Springs home is not paying attention to the smells in your home. When a prospective buyer opens the front door, they’ll be hit with your home’s unique odors. They’ll form a first impression based on whether they experience a pleasing smell, or if something immediately turns them off. The importance of smell can’t be underestimated because it’s nearly impossible to change a first impression.
Remember, when buyers walk into a house they smell before they actually see anything in that house. They are actually getting an impression, whether it’s conscious or subconscious, of a home.
Here’s my top tips about smells in a house:
- Don’t try to cover-up odors, instead, do all you can to reduce them. Buyers can be turned off by strong air fresheners. And if you don’t remove the offending odor, they’ll smell it AND they’ll also smell the room freshener. Not pleasant.
- Take out the trash often. Even if the trash can is hidden under the sink or in a pantry, it’s best to keep the trash emp
ty when showing your home. - If you smoke inside the house, stop. Start smoking outside only. If you’ve got years of built-up smoke you may need to re-paint, clean the carpet and drapes, and clean the air-ducts.
- The best air fresheners to use are those with natural scents like citrus or spices like vanilla and cinnamon.
- To keep things natural-smelling you can heat cinnamon sticks in boiling water before a showing. Also, cut up oranges, lemons or limes and place them in a bowl in the kitchen.
- Wash your pet often. Keep pet bedding clean, keep the cat litter box clean.
- You may want to stock up on Baking Soda. It naturally absorbs odors, is safe to use and very economical, not to mention versatile. It has many uses; you can sprinkle it in the foyer and mud room areas, sprinkle it in the shoes. Sprinkle it on all carpets before vacuuming. Shake a little bit into the bottom of all garbage cans and the kitty litter box. In the kitchen, you can use it in the garbage disposal to keep it smelling fresh and clean. And an open box in the refrigerator will keep food odors at bay.
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Kathy (719-287-1049) KTorline@msn.com
Appraisals are a crucial part of the home buying process
An important term for every Colorado Springs home buyer to understand is the “Appraisal“.
For a Free Home Owner Buyers Guide, Email Kathy at KTorline@msn.com
What is the definition of an appraisal?
An appraisal is an estimate or opinion of value of a specific property as of a specific date resulting from an analysis of the facts about that ![ExteriorMain[1]](http://coloradospringsvintagehomes.com/files/2010/04/ExteriorMain1-300x200.jpg)
property by a qualified impartial third party.
Who is an appraiser?
Appraisers are licensed and are held to strict ethical standards. They are a “third party” whose purpose is to give their opinion of the market value of a home.
Can a seller get their own appraisal done?
Yes, a Colorado Springs home seller may get their own appraisal done before selling the property to determine cost. This typically costs anywhere from $300-500. It’s important to note the Buyer’s Lender will not accept this appraisal but will request another to be done by their own contact.
Read the rest of this entry »
Why do I need to know about Lead Based Paint?
New rules will affect your remodeling time
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Most home owners in Colorado Springs normally don’t even think about lead-based paint. If they are getting ready to put their
house up for sale, and it was built before 1978, their Colorado Springs Realtor will tell them about their obligation to disclose whether or not they knew of lead-based paint in the home. This would include reviewing and signing the form, Lead-Based Paint Disclosure (which is mandatory) and the form, Lead-based Paint Obligations of Seller (which is not mandatory in Colorado). You can get the EPAs booklet on this new rule here
It is estimated that more than 80 percent of the housing structures in Colorado, including Colorado Springs were built before 1980, according to the 2000 U.S. Census, many of which fall under the EPA’s target properties requiring the use of RRP rules.
There is a now a new rule that affects contractors performing work on these properties. Set to take effect in April 2010, the new standards will extend to builders, painters, plumbers, and electricians working in all rental housing built before 1978. Under the “Lead: Renovation, Repair, and Painting Program” rule, contractors working under such conditions will be required to post warning signs, restrict occupants from jobsites, contain work areas to prevent the spread of dust and debris, conduct a thorough clean up, and verify the effectiveness of cleanup efforts. Supervisors will be required to complete a one-day training and certification class in accordance with the new EPA lead-safe work practices
If a home owner performs work on their own house, they don’t have to be certified. Contractors are also exempt if the area they’ll disturb is no larger than six square feet of interior painted surface, or twenty square feet of exterior surface. (not a very big space!)
Here’s some additional information about Lead Based Paint: 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.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Kathy (719-287-1049) KTorline@msn.com
Real Estate Agents have a fiduciary relationship
Fiduciary Duties
Related Articles:
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I came across a great article in the Gazette over the weekend about Fiduciary Responsibilities. It was informative, well-written, and very much applies to Colorado Springs Real Estate and Realtors. My favorite quote from the article written by Jim Flynn ”The law expects more of 
fiduciaries than others who have legal duties to another person.” Some examples of professional who have a fiduciary responsibility are trustees, executors, and guardians, as well as Realtors.
You may wonder what all of this has to do with real estate. The answer is, it has everything to do with Realtors and real estate in Colorado and it starts with an understanding of agency in Colorado
Agency and Real Estate
Colorado is considered an agency state, and Real Estate Agents have 2 choices of how they represent clients. According to the information in the Colorado Real Estate Manual:
When and why should I replace my furnace?
Buy or Selling a home in Colorado Springs? Check out the Furnace
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- Preparing your home for a home inspection – Advice for Sellers
For a Free Market Analysis on Colorado Springs neighborhoods, email Kathy Torline at KTorline@msn.com
There are many things that are important when you go to buy and sell a house; but it’s crucial you understand the major components of 
a house and the related costs to replace them. Roofs, windows, heaters; all can run into major money. Since my hubby and I are planning on buying a Colorado Springs investment property this year, we’ve been putting together a list of contractors to use for major home components. Let’s start with some of the essentials.
What is the life span of a furnace?
The typical life of a furnace is appx. 20 years; but some furnaces last 25 to 35 years. One way to make sure it lasts even longer is to periodically have it serviced and change your furnace filter as recommended by the manufacturer. Think of it the same way you think of “an oil change” for you car. Preventative maintenance can definitely extend the life of the furnace.
Why would I replace the furnace?
If your furnace or boiler is older than 20 years, it may be good investment to replace it with a high-efficiency model with the guidance of a licensed contractor. Also, with the current energy tax credit Read the rest of this entry »
How to avoid home repair scams
Home repair tops list of #1 scams in Colorado
Must read posts:
- Do your homework on building permits
- Top 5 Remodeling projects
- ILC versus a Survey, what’s the difference?
- Free local money for home improvements
The Denver Post recently published an article about the ANNUAL LIST of scams published by the Denver-Boulder Better Business Bureau. The Pikes Peak Better Business Bureau also has a very similar list published on their web s
ite. Drum roll please …………., #1 on the Denver-Boulder Better Business Bureau list:
- Home Repair swindles. The article states “ Due to the historic storms Colorado saw in the summer of 2009, countless unscrupulous contractors swarmed into the state to take advantage of damaged property owners. Some of the worst problems reported involved contracts that required all insurance money be owned to the contractor, even if the consumer cancels before work begins, inflated costs and high-pressure sales.”
Here’s some suggestions on how to avoid scam artists:
- Ask to see references, then follow up with the references. Read the rest of this entry »
Top 5 Remodeling projects
Remodeling in Colorado Springs?
For a Free Market Analysis on your neighborhood, email Kathy Torline at KTorline@msn.com
HOME REPAIR Must read Articles:
The 2009 Remodeling Cost vs. Value Report just got released, and I think it’s a MUST read for all Colorado Springs homeowners 
and all Realtors. There is an amazing wealth of information is included in this report. It the 22nd annual report and compares the cost of remodeling vs. value. I really enjoyed the data since I’m personally getting ready to do my first flip this year, which also made me realize what a great document it is for Investors.
On the web site, you can pull up the info on 80 different cities. It starts with going to your area of the country on the map, then picking out the closest city. Colorado Springs wasn’t one of the cities, but Denver was; hence the data may need to be adjusted slightly for the Colorado Springs area vs. Denver; as our housing prices are probably 10% to 20% less. Once you are in the report, you can sort by Cost Recovered, Resale Value, and other headings. It’s heaven for a statistic junkie.
Remodeling in Colorado Springs?
If you are thinking about starting a remodeling project in 2010, this is where I would suggest to start. Many sellers and homeowners assume Read the rest of this entry »
What is a 1031 exchange?
As part of a recent 2 day class I attended to get my SRES Designation (Senior Real Estate Specialist) the class had a great section on 1031’s. I definitely learned some things and I wanted to share it with my readers.
If you would like more information about a 1031 tax exchange for Colorado Springs real estate, Call Kathy at 719-287-1049 or email, KTorline@msn.com
What is a 1031 exchange?
It’s a federal tax allow that allow taxpayers to DEFER capital gains tax on exchanged of property used in trade of business held for investment. They DEFER taxes, not eliminate them.
Why would you want to do a 1031 exchange?
There are many reasons including acquiring a future retirement residence, acquiring property with more appreciation potential, relocation of investments in another location, deferring capital gains.
Are there some basic rules?
- Property must be used in trade of businesses or held for investment.
- Property must be exchanged for like like property (i.e. real estate to real estate NOT real estate to stocks and bonds).
- Replacement property must be identified within 45 days of transferring the exchange property. Only 3 properties can be identified
- Replacement property must be acquired within 180 days or the tax filing deadline
- For a detailed list of the rules and regulations, here’s a link to the IRS web page.
- The value of the replacement property must be equal to or greater than the value of the relinquished property.
FHA loan changes coming soon
Attention Colorado Springs first time home buyers
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Must read posts:
- Credit score explanation
- Pre-Qualification or Pre-Approval, which do you need to buy a home?
- Why do I have to pay mortgage insurance?
- 26 criteria used to determine interest rates
HUD Secretary Shaun Donovan recently announced some changes to FHA loans that could come as early as the first quarter in 2010. Since a large percentage of first time home buyers use FHA loans, some home buyers may want to get a home purchased before these changes come into affect:
Here’s a quick summary of some of the expected changes:
- Seller concessions may be reduced from 6% to 3%.
- Many buyers ask the seller to pay for all or a portion of their closing costs, and the lower seller concessions may make this more challenging to do.
- Minimum credit scores will be raised for FHA borrowers. (the speech didn’t give specifics on what this credit score was going to be raised to.) Read the rest of this entry »
Relaunch of a blog site about Home Inspections
Resources for Home Inspection issues
Related Article: Appraisals and Inspections, 2 important steps for home buyers - Tips #11-15
I’m always on the lookout for new web sites that I can forward on to my Colorado home owners, and at the suggestion of Justin Smith, I checked out a site 
for US Inspect, which seems to be comprehensive resource on home inspections, by US Inspect . I read through a couple of the articles, and I especially liked the one on GFI’s; as this seems to come up in almost every inspection I attend. It was nice to see a comprehensive easy to understand blog on the topic.
One of the other things I really like about the site is the Basic Component and Systems of the Home Section. As an example, I loved the detailed description is had about Septic Systems, complete with pictures, links to Septic Terms, types of systems, and care of the system.
I also really liked the Radon Article, as it expands on some of the Radon articles I’ve posted on my blog site.
Go check it out, let me know what you think about the site. It seems like a good resource.
If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
Free local money for home improvements
Colorado Springs homeowners, check this out!
I just came across a very informative blog about free money, and cheap money. The blog detailed a local Colorado Springs program to 
help residents install energy efficient items in their houses. As usual when I come across an article like this, I like to go to the original source about the program so I can give even more information to my readers.
The City of Colorado Springs has an entire section of their web site dedicated to Housing Rehabilitation. I was impressed with the range of programs offered including Lights and Locks for Seniors, Emergency Repair, Energy Environment Economy Program, and Owner Occupant Rehab.
The Owner Occupant Rehab program is targeted towards low income home owners in Colorado Springs and can be used to improvement the energy efficiency of a house; including replacing windows, upgrading a furnace, adding insulation, upgrading plumbing. They have some criteria to qualify including you must live in the home and it must be valued less than $247,000. If you meet the income guidelines, your interest rate is 3%. Yes I did type it right, only 3%.
The web site includes the contact name at the City to get more information about all of the program.
- 5 reasons lack of building permits cause big problems
- Colorado Springs Building Codes and Permits – Part I
- Colorado Springs Building Permits – Part II
- Colorado Springs Building Permits – Part III
- Colorado Springs Building Permits — Part IV
- Colorado Springs Building Permits — Part V
- 5 reasons lack of building permits cause big problems
- Do your homework on building permits
Kathy (719-287-1049) KTorline@msn.com
Federal Tax credit available for remodeling
Energy Tax Credit
For a Free Market Analysis on your neighborhood, email Kathy Torline at KTorline@msn.com
HOME REPAIR
Everyone is talking about the $8000 First Time Home Owners Tax Credit. But, there is also a $1500 energy tax credit that is available for every home owner.
The American Recovery and Reinvestment Act of 2009 extended a variety of tax incentives that w
ere first started in 2005. Home owners, including those in Colorado, can save up to $1,500 on their income tax bill if you install approved energy improvements to your house before December 31st, 2010.
Some things you can use the tax credit for include:
- Air Conditioners
- Insulation
- Furnaces
- Windows / Doors
- Sky Lights
- Roofing
- Water Heaters
- Attic Ventilation
- Solar water heating
- Solar Electricity
- Wind Power
- Geo Thermal
- Sealed Crawl Spaces
To take advantage of this tax credit, Read the rest of this entry »
12 Acceptable Reasons for a Short Sale
Are you thinking about selling your Colorado Springs Home? Do you want to do a short sale?
If you would like some other helpful advise on selling your home, please feel free to call Kathy at 719-287-1049, KTorline@msn.com
Many times I’ve been asked about why would a homeowner would want to do a short sale. The reasons are many, b
ut here my top 12 list of acceptable reasons:
- Financial Hardship due to a reduction of income, still employed but you are making less money
- Financial Hardship due to unemployment
- Financial Hardship due to your ARM loan resetting and you can no longer afford the payments
- Divorce
- Death
- Military Deployment
- Job Relocation Read the rest of this entry »
Why should I get an ILC?
Why should I get an ILC? Or why not?
Related post: ILC versus a Survey, what’s the difference?
Here’s some of the top reasons why you should get an ILC (Improvement Location Certificate)
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You could identify property line violations
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You may find out the fence is not the property line
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You could find out that all or a portion of the driveway is on some one else’s property
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It will also tell you where the easement are located
I used to think that ILC’s and surveys were only for rural properties. Wrong. Even lots in the middle of a subdivision are not immune to “hidden problems” ; including :
- Encroachments
- Easements
- Other adverse conditions
Why should I get an ILC before completing a purchase of a house?
Encroachments and infringements can especially cause Read the rest of this entry »
Real Estate Agent or Realtor?
What is the difference between a Colorado Springs Realtor and a Colorado Springs Real Estate agent?
Must read articles:
Most Home buyers and home sellers the Colorado Springs area use the terms REALTOR® and Real Estate Agent interchangeably, but that is not correct. There are many differences between REALTORS® and real estate agents. They are not the same……………..
What is a Realtor®?
- Realtors® subscribe to a strict Code of Ethics set forth by the National Association of Realtors, which contains 17 Articles and various underlying Standards of Practice.
- Realtors® must complete mandatory quadrennial Code of Ethics training.
- Realtors® belong to the local Realtor® boards, which contribute listings to the MLS (Multiple Listing Service®).
- Realtor® agree to arbitration procedures used to settle any complaints, whether from consumers or other Realtor® members.
- Realtors® belong to the professional organization, National Association of Realtors®. Read the rest of this entry »
ILC versus a Survey, what’s the difference?
Improvement Location Certificates and Surveys in Colorado
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Related Articles:
I’ve had several experiences recently with surveys for two different Home buyers in the Colorado Springs Area. As usual, my day to day life as a realtor provides me with constant topics to write about. Let’s start with the basics of a Survey and ILC:
What is a survey?
A land survey is completed to exactly locate the boundaries and monuments of a property. Missing monuments (property corners) will be replaced. All above ground improvements and utilities will be documented.
What is an ILC?
An ILC is not a survey, and the initials of ILC stand for Improvement Location Certificate It is merely a surveyor’s opinion that the the buildings and major improvements appear to be located on the property described in the deed.
What is the difference between an ILC and a survey?
Don’t forget about the Better Business Bureau
A Resource for Colorado Springs home owners
Must Read Posts:
Since I work with many home owners and home buyers, and I’m very cautious on people I recommend to assist them. I started to think 
about the benefits of the Colorado Springs Better Business Bureau in helping people choose businesses to hire.
Do you have any of these questions?
-
Do you need a new roof?
-
Do you need a heating contractor?
-
Are you looking for a good plumber?
-
Do you need someone to build a fence?
In the old days, you’d pull out the Yellow Pages, and flip through them until someone’s ad caught your eye. In current times, you’ll probably turn to the Internet and use Google or some other type of search engine to find some businesses to call; or you’ll ask a friend or a business acquaintance for a recommendation. Maybe in addition to your Internet search, you should also do some quick research with the Better Business Bureau.
Here’s some examples on how you can the BBB web site, you can pull up information on Read the rest of this entry »
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 »
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
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
Search for Townhomes Homes in Colorado Springs
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 »
