Colorado Springs Vintage Homes Blog
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New FHA limits increased again for 2009 in El Paso County
FHA has new loan limits
One of our favorite guest writers, Harry Venick sent me an email yesterday stating that the FHA has increased the loan limits for El Paso County!
According to Harry, “FHA loan limits have been increased for 2009 again: El Paso County $ 325,000(1unit ), $ 416,050 (2units), $502,900 (3units), and $ 625,000 (4units).”
Harry Venick is a Sr. Loan Officer with Adams Mortgage, LLC. He can be reached at (719) 955-3674 or his cell is: (719) 338-3879.
If you’ve been holding off because you haven’t been able to get a large enough loan with the FHA, it might be a great time to revisit Read the rest of this entry »
Resources for building a Green Home
Green Homes
Search for Homes in Colorado Springs
Are you considering building the home of your dreams this year? The newest trend is to build green by using materials that are environmentally friendly, designing your space to use energy 
more efficiently, furnishing your home with Energy Star rated appliances, avoiding waste and using natural resources as much as possible.
There’s also the advantage of doing your bit to help the environment while cutting back on your own utility bills.
Here are a few websites that offer help while you’re in the planning stages of building green: Read the rest of this entry »
Scary times for new homes buyers in Colorado Springs
Buying a new Home in Colorado Springs?
In 2008, single family home construction in Colorado Springs continued to be extremely slow, and 
several regional and national home builders cut operations or closed up shop in the Springs. The latest to exit the market is John Laing Homes.
According to several Associated Press articles, John Laing Homes, has suspended home construction in Colorado Springs while it reviews its finances. They are currently owned by a Dubai developer, Emaar Properties, who bought them for $1.05 billion in 2006. Emaar is Dubai’s largest publicly listed developer. It is nearing completion on what is already the world’s tallest building in the Persian Gulf boomtown and is developing projects throughout the Arab world.
Last week, John Laing issued a statement saying Read the rest of this entry »
Are there tax ramifications to a Colorado Springs short sale?
Taxes due on Short Sales?
As part of listing short sale properties, a large portion of what I do is help educate sellers who are in financial difficulty. I’m often asked about the tax implications of the debt forgiveness on a short sale or foreclosure. I hope this article will answer some of these questions.
I pride myself on thoroughly researching any article I write, and this article is no exception. Having said that, I’m not an accountant or CPA, and I urge you to seek professional tax advice on the tax ramifications of a Short-Sale and Foreclosure.
- Colorado Springs Homes, 4 things to know about a short sale - Part I of Short Sales Series
- Avoid Foreclosure, Know Your Options - Part II of Short Sales Series
- Colorado Springs Home Foreclosures – 11 benefits of a short sale - Part III of Short Sales Series
- The final step in the Colorado Foreclosure process – Part IV of Short Sale Series
- How long does it take to do Colorado Springs Short Sale? – Part V in Short Sale Series
What is the Mortgage Forgiveness Act?
The Mortgage Forgiveness Debt Relief Act of 2007 was passed for taxpayers who lose their homes in foreclosure. (According to the information on the IRS Web Site: “Homeowners whose mortgage debt was partly or entirely forgiven may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2008 federal income tax return.”)
The law applies to debt forgiven in 2007, 2008 or 2009 and it’s important to note that debt forgiven on second homes and rental property does not qualify. Read the rest of this entry »
Old Colorado City Commercial district…fun to visit and lots of history
Old Colorado City during the early years
Search for Homes in Colorado Springs
The commercial district of Old Colorado City, located on W. Pikes Peak Ave., dates to the turn of the century (20th that is) when it was quite productive and prosperous. Due to the closeness of the railroad yards and ore mills it became a transportation and gold processing center. The railroads brought lots of tourists as well, creating a thriving hospitality business.
The business district reflected this economy. You could buy dry goods, furniture groceries. There were also drugstores and meat markets. Many of these building’s brick facades were provided by The Stucco, Brick and Cement Company located in Old Colorado City. Many of the buildings also housed meeting rooms, business offices, dentists, doctors and lawyers in the upper floors.
There were no shortage of saloons as
more than a dozen were in operation to provide refreshments and recreation for the populace, tourists and Colorado Springs residents trying to escape the city’s liquor free atmosphere. Places like Hoffman House, Oxford Club, Arcade, Colorado City Beer Hall and Bucket of Blood where many of them had second floor dance halls and gambling dens. The Cucharras Street Red Light District was on the adjacent street where you could indulge in more racier recreation if desired. Liquor, gambling and prostitution was banned in 1913 though you could still indulge in the town of Ramona which was founded by the bar owners for only those purposes. These buildings were later razed and Thorndale Park now occupies part of that scarlet town site.
Colorado City was annexed to Colorado Springs during World War I and became a bedroom community , which is now known as the westside. Due to the waning of Cripple Creek an economic decline started in the 1910’s and lasted until the mid 1900’s. Several of the original buildings were updated to unflattering modern renovations and several burned to the ground. Traffic declined even further when Highway 24 opened in the 1960’s.
Finally in the 1970’s, the district underwent a revival, supported by the City of Colorado Springs. Many properties were restored to the turn of the century looks and even some compatible new buildings were constructed on the vacant lots. Today the district is listed in the National Register of Historic Places. As in yesteryear, today “Old Town’s” ambiance attracts Colorado Springs residents and tourists. There are lots of shops, restaurants and interesting storefronts. Wide sidewalks, shade trees and park benches allow folks to stop, shop, eat and stay awhile. Notice the cornices, patterned brickwork and other wonderful architectural features of these historic commercial buildings.
If you liked this article, try reading some of these:
- Cripple Creek Gold Rush and what it meant to Colorado Springs
- Old Colorado City Springs to Life with a Vigilante System of Government
- 33 Unique things to do-#5 Van Briggle Pottery and Museum
If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
Colorado Springs Foreclosures, West Area
Market breakdown for Active Homes as of 11-12-08
Related Posts
Neighborhoods: Kissing Camels, Cedar Heights, Mesa, Chelsea Glen, Pleasant Valley, Holland Park
Active as of 11-12-08: 226
- Single Family Homes: 144 (64%)
- Condos/Townhomes/Patio Homes: 82 (36%)
Colorado Springs Building Permits — Part III
Everything you want to know
about Building Permits in Colorado Springs – Knowledge is Power
Must Read Posts
(1) QUESTION: Are rain gutters and downspouts on single family homes required by building codes in 
Colorado Springs?
ANSWER: Yes, they are required by code.
(2) QUESTION: I want to put up a 5′ fence around the backyard of my home in Old Colorado City, and my neighbor said I needed a permit. Is he correct?
ANSWER: No, you only need a building permit for fences over 6′. But it is still a good idea to call and get the utilities located. You may also want to get an Read the rest of this entry »
Colorado Springs Building Permits — Part II
Everything you want to know
Get a Free Market Analysis on your Home, Email KTorline@msn.com or call 719-287-1049
All about Building Permits in Colorado Springs – Knowledge is Power
Previous Posts
(1) QUESTION: What type of building codes does the Pikes Peak Regional Building Department enforce?
ANSWER; They enforce Building Codes, including the State Electrical Code, the State Plumbing Code, the Fuel Gas Code, the Energy Code, the Mechanical Code, and the Elevator Code. They also enforce Floodplain and Enumeration regulations.
(2) QUESTION: What is the Dangerous Building Code? Is there such a Code?
ANSWER: The explanation posted on the Regional Building Site is ” ………… part of the Regional Building Code, includes buildings that have been burned, damaged by a vehicle running into it, or a natural disaster that may render the structure unsafe. The property owner is given the opportunity to correct the items that make the building unsafe, either by fixing it, boarding it up or having it demolished.” The Building Code is posted online and you can go to the site and read the Dangerous Building Code.
(3) QUESTION: Is there any type of code about dilapidated buildings?
Real Estate Dictionary, “L” is for Latent Defects
Knowledge is Power — Real Estate Dictionary
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
I’m looking at buying a house in Rockrimmon, and my Colorado Springs Realtor said that I should check for latent defects, what is she talking about? A latent defect is a physical weakness not noticeable after a reasonable inspection of the property. Since some homes in Rockrimmon were built over old mines; you may want to have structural engineer involved in the inspection.
Why do I need to find out if a home in Old Colorado City has lead-based paint in it? Because, lead-based paint is a hazardous product that is no longer manufactured and it is potentially poisonous The presence of lead-based paint must be disclosed to buyers and tenants residing in a property built before 1978.
Are streetcars going to become a reality in Colorado Springs?
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
I recently wrote a post on the Trolley Museum and how the volunteers are working so hard to bring back the trolley system that once ran in downtown Colorado Springs.
A coalition the includes the Downtown Partnership, Downtown Development Authority, Mountain Metropolitan Transit (our bus system) and Colorado College are looking for bids to study the feasibility of a streetcar line. This study will be done with Read the rest of this entry »
Colorado Springs Old North End, Market Report for July
Single Family Homes in Old North End were primarily built in the 1900’s to 1920’s. The majority of the houses are ranches and 2-stories, with 3 to 5 bedrooms, 2- 3 baths, and 1 – 2 car garages. The average home has approx. 2500 to 3500 square footage. The absorption rate of 4 house per month shows that there is a 6 month supply of houses on the market; the housing market is Read the rest of this entry »
Relocate to an Award Winning City in the Colorado Rockies
Colorado Springs
Awards, Awards, and more Awards ……
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#1 by Money Magazine for best big city in the nation to work and live – Money Magazine August 2006
- #1 by Forbes for most Pet Friendly city – 2007
- #1 Winner of DogTown USA, most dog-friendly city – 2008
- #2 in population for percentage of veterans #3 by Forbes for best, fastest, growing, most business friendly metro
- #3 by MSNBC for best places to live in U.S.
- #4 by Frommer’s for best cities ranked and rated April 2007
- #4 Smartest City by BizJournals.com
- #5 by Kiplinger’s in “Best Cities to Live, Work and Play”
- #6 among top cities in Read the rest of this entry »
