Colorado Springs Vintage Homes Blog
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Colorado Springs Foreclosure listings in the Central as of 4-8-09
Homes in Colorado Springs
Up-to-date market information for Active and Foreclosure Homes in the Central area
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Homes in Ivywild, Old North End, Patty Jewett, Divine Redeemer, East End Addition, Crown Hill Mesa, Boulder Heights, Spring Creek
Breakdown of homes for sale, INCLUDING FORECLOSURES
- Short sales: 45 (10.6%)
- Bank-owned: 37 (8.7%)
- VA Owned: 1 (.2%)
- Regular: 340 (80.4%)
Active Homes for Sale: 423
- Single Family Homes: 315 (74%)
- Condos/Townhomes/Patio Homes: 108 (26%)
Partial list of Foreclosed homes currently on the market
This Colorado Springs Real Estate report contains information on homes in Central Colorado Springs. Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of March 30th
Saturday Bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of March 23, 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn.com
Breakdown of New Foreclosure homes for sale from March 30 to April 4, 2009
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
Finding diamonds in the rough
Colorado Springs Foreclosures
Search for Foreclosed Homes in Colorado Springs
I have several buyers who are looking at buying Bank Owned Properties in Colorado Springs, and yesterday I went and previewed some of them in the higher-end luxury foreclosure market
I don’t think the pictures will do justice to what I saw; but there were some interesting properties. My favorite was a 
property in a wonderful section of town back behind the Broadmoor Hotel. The home is located on an amazing lot, with great views of the city, an abundance of local wildlife, but …………………… property definitely needs some help.
The outside wasn’t bad; had some shake shingles that need updating, and new windows that were put in but the installation wasn’t finished. Stucco on the outside would make it look much better. Fantastic decks all over the place; and a wonderful unique floor plan with around 5000 square feet, with 4000 finished. It’s definitely a diamond in the rough.
Comparable properties that are updated and in good shape in the same Broadmoor Heights neighborhood in Colorado Springs are listed for around $650,000; this one is listed under $400,000, and it sold back in 1998 for $950,000. I’m not a contractor; but I would guess that for $150,000 to $200,000 you could make this into an amazing property; then a new owner would have $150,000 in built-in equity. And for 5 bedrooms, 5 baths, 4 fireplaces on .8 of an acre, with expansive windows; it’s definitely a diamond in the rough. The property has been foreclosed on at least twice, maybe it’s just waiting for the right owner to see it’s potential?
The doors leading into the property Read the rest of this entry »
Marriage and Mortgages FAQ’s
Colorado Springs Vintage Homes is happy to feature a great article by
Harry Venik with Adams Mortgage, LLC
Related Articles:
- Pre-Qualification or Pre-Approval, which do you need to buy a home?
- Will VantageScore Bring Consistency?
- Colorado Springs Mortgages — tips for consumers on points
Marriage and Mortgages FAQs
Q: Could one spouse’s bad credit negatively affect the other?
A: If a couple is applying for credit jointly, say for a loan or credit card, then yes. One person’s lower score can negatively impact the interest rate the couple will be offered. This is because every borrower has three credit scores, and lenders use the lowest “middle” credit score of the two borrowers. We have seen many situations in the past in which one borrower was dropped from the application – but only if the lower score belongs to a non-working spouse. This can create a serious issue, however, if the income is needed in order to qualify.
Q: Can one spouse’s low score negatively Read the rest of this entry »
21 reasons short sales fail
Part X of Colorado Springs Short Sales Series
Interested in selling your house as a short-sale? Email Kathy Torline KTorline@msn.com or call 719-287-1049
According to an article in Reuters in April 2008, 1/3 of all short-sale fail. The study was conducted of more than 3,000 real estate agents by Campbell Communications.
Since I do short sales for clients in Colorado Springs and the surrounding areas, I thought I’d make up my own list of why they fail. My logic is that if I can avoid or minimize these issues as much as possible, I should be able to lessen the failure rate. Here’s my list; although I don’t have them ranked in any particular order. Some of these things I can control and some of them I can’t; regardless it was an interesting exercise to put the list together.
A. Training and education (One short sale class is not enough to prepare a realtor to represent a client in short sale.)
(1) Seller’s agents don’t always understand what they are doing
(2) Buyer’s agents don’t always understand what they are doing
B. A buyer is never found for the property
(3) Price is too high
(4) There is too much inventory on the market for buyers to choose from
(5) Undesirable location
(6) Property needs major repairs
(7) Not enough time to market the property before the property goes to foreclosure
C. Offer is too low Read the rest of this entry »
10 Questions to ask when getting a Mortgage Loan
Colorado Springs Vintage Homes is happy to feature a great article
by our Newest Guest Blogger
Jessica Peterson with Lending Ladies
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
10 Things to ask when Getting a Mortgage Loan
We know that buying a home is a big and important decision. Selecting a good Loan Officer is a key part 
of your financial success. You will find our way of finding a good Loan Officer may be different from other blogs or postings. I am seeing quite a few blogs or posts that are saying the same thing and I find the questions do not really pertain to finding a good Loan Officer. Also, I find it interesting to learn that a company is selling the data.
What we have below did not come from any source that we paid for but comes from the heart and after being in the industry for a long time. At LendingLadies.com, we find character and experience plays a large part in finding a good Loan Officer. Therefore our questions are based upon that. If someone is a smart and truly caring person, they will end up being a good Loan Officer. It does not mean that everyone will agree with us, but some of you will. Please see our suggested list of questions to ask below. As always, LendingLadies.com encourages you to ask us the questions below.
Please pass this along to anyone who will be obtaining a loan in the future.
- Do you guarantee your fees on a Good Faith Estimate? Read the rest of this entry »
Foreclosure Colorado Springs, Central Area
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in Central As of 1-7-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Ivywild, Old North End, Patty Jewett, Divine Redeemer, East End Addition, Crown Hill Mesa, Boulder Heights, Spring Creek
Active Homes for Sale as of 1-7-09: 497
- Single Family Homes: 387 (78%)
- Condos/Townhomes/Patio Homes: 110 (22%)
Breakdown of homes for sale, INCLUDING Read the rest of this entry »
Downtown Colorado Springs, November Market Report for November 2008
Colorado Springs Real Estate
- Market Report for Downtown – Single Family Homes
Search for Homes in Downtown Colorado Springs
Single Family Homes in Downtown Colorado Springs were built from 1900 to the 1940’s. The majority of the houses are ranches and 2-storys, with 2 to 3 bedrooms, 1 -2 baths, and 1 – 2 car garages. The average home has appx. 1000 to 1750 square footage. The absorption rate of .81 houses per month shows that there is a 12.2 month supply of houses on the market; the housing market is currently a BUYERS MARKET in this area.
Central Downtown area neighborhood is located in the Central area of Colorado Springs and in District 11 schools
There are different types of foreclosed homes
Foreclosure Properties for Buyers — Just the Facts
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
Related posts:
Buying a home that has been foreclosed on can be a very good deal, especially if you have money to invest
in fixing it up. Buyers may end up with more in equity than the amount they spend fixing the property, particularly when they do some of the work yourself. Even if you’re a first time homebuyer with no money for cosmetic or other repairs, a foreclosure may be within your reach with creative financing that allows you to finance the repairs based on the repaired value of the home.
As I was writing this article, I went to the local Multiple Listing Service and searched for all of the properties that said they were currently listed and classified as Bank owned. The search came up with 323 Bank owned properties, which is about 5% of the homes currently listed for sale. If you want a list of these properties, call or email Kathy or Nancy.
The following is a brief explanation of the majority of foreclosure properties available for buyers to purchase.
(1) Bank Owned: These type of properties are also called Real Estate owned or REO. The bank has already foreclosed, and the bank now owns the property. They are typically sold “as-is”, which means Read the rest of this entry »
Don’t let your dream house become a nightmare
Tips for Colorado Home Buyers, beware of buying a meth home Part II
Related Posts
What are the dangers of living in a meth lab house?
The dangers that go along with meth houses include exposure to cancer causing chemicals that can saturate 
walls, carpets and other building materials as well as all contents. Lead and mercury are common byproducts. Chemicals, such as solvents, may be disposed of in plumbing or simply poured on the ground. If not removed properly these can cause various health problems.
Meth manufacturing or cooking leaves behind 5 to 7 pounds of chemical waste for each pound of meth that is produced. These byproducts are considered hazardous waste. Mitigation can include:
- REMOVAL: Furnishings, draperies, carpeting, wallpaper, paneling, etc.
- VENTILATION: When solvents and other chemicals that may have soaked into the walls are slowly vaporizing.
- NEUTRALIZATION: Where acids or bases have been used, the potential for harmful effects may be reduced or removed through neutralization.
- DETERGENT-WATER WASHING: Some nonporous and semi-porous surfaces such as floors, tiles, walls and ceilings can be cleaned with detergent washing.
- ENCAPSULATION or SEALING: Contamination may be covered with layers of oil-based paint, polyurethane or other materials.
It’s important to understand that to properly clean up a meth house you need professionals. The state of Colorado does not regulate meth lab cleanup. It’s also Read the rest of this entry »
Colorado Springs Building Permits — Part V
Everything you want to know
about Building Permits in Colorado Springs – Knowledge is Power
Get a Free Market Analysis on your Home, Email KTorline@msn.com or call 719-287-1049
Previous Posts
(1) QUESTION: I put in a new sprinkler system in my home in Kissing Camels, and recently received something from the Building Department saying I needed a Backflow Preventer. What is this?
ANSWER: A backflower preventer keeps possible contaminated water from backing up into your domestic water supply. A license is required to install this device.
(2) QUESTION: I need to hire a roofing contractor, how can I be sure the contractor will do a good job?
ANSWER: First of all, do your due diligence before hiring a contractor You can check with Read the rest of this entry »
