Colorado Springs Vintage Homes Blog
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Sales in West Colorado Springs are up for the year
Colorado Spring Real Estate – West Area
Market Report for September 2009 – Single Family Homes
Includes Homes in Pleasant Valley and Kissing Camels
Search for homes in West Colorado Springs
The Colorado Springs West housing market continues to be a BUYERS Market, as there is currently an 6.8 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales units were ONLY down 1% from 2008 to 2007, but pricing was down more than16% from 2008 to 2007. 179 sales in 2009 vs. 158 sales in 2008, show an increase in sales for the first 8 months of the year.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004 Read the rest of this entry »
Colorado Springs Home prices — similar to 2004
Graphs tell the story on Colorado Springs home prices
Search for homes in Colorado Springs
Since a lot of my business is relocation, I talk to a lot of people who are looking at moving to the Colorado Springs area. Even though our average pricing is down in Colorado Springs, we certainly haven’t been hit as hard as many cities. The graph below really shows exactly where the current average pricing is, which is close to 2004 pricing. But like all cities, the average price varies vastly on a neighborhood by neighborhood basis. Some areas have held strong, and some areas have seen their pricing drop by 30% or more.
To find out more information about Colorado Springs Real Estate, Contact Kathy Torline (KTorline@msn.com) 719-287-1049
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Some other articles that could be of interest:
- News Flash – Colorado Springs ranked Fittest City
- Moving to Colorado Springs, check out Zip Skinny
- El Paso County taxes are some of the lowest in the nation!
- Colorado Springs in ratings for Best Places to Start Over
7 ways to avoid identity theft
1 in 10 will be the victim of ID theft this year
Identity theft is one of the fastest growing crimes in Colorado and in the US.
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
Here’s my top 7 tips to avoid identity theft
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Mail: Have it delivered to/from the post office. Don’t have mail delivered to your home mailbox; especially if it is unsecured
- Social Security number: Never carry your social security card with you. Be very cautious about giving it out.
- Receipts: Take all your ATM and gas receipts with you. Don’t leave them at the gas station or at the ATM machine.
- Statements and credit card solicitations: Don’t just throw them away, shred them.
- Bar codes: Remove the bar codes from magazine and shred them.
- Credit report: Monitor your report on an annual basis at www.annualcreditreport.com
- Electronic Keypad signatures: Put the date at the end of your signature when you are signing on an Electronic keypad. (This will keep your signature from being stolen and used again.)
Remember, Knowledge is Power
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To find out more information about buying or renting a home in Colorado Springs or Manitou Springs, call ….
Quick Explanation of Zoning in Colorado Springs and surrounding cities
Colorado Springs Zoning
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
I recently had a client ask me about what R-1 Zoning in Colorado Springs. If one person wants to know, maybe more of you do? Here’s the most commonly used codes that I see as a Colorado Springs Realtor specializing in residential real estate.
| PUD | Planned Unit Development | Colorado Springs | COS |
| R | Estate Single-family Residential | Colorado Springs | COS |
| R-1 6000 | Single-family Residential | Colorado Springs | COS |
| R-1 9000 | Single-family Residential | Colorado Springs | COS |
| R-2 | Two-family Residential | Colorado Springs | COS |
| R-4 | Multi-family Residential | Colorado Springs | COS |
| R-5 | Multi-family Residential | Colorado Springs | COS |
If you are looking for even more information about Colorado Springs Zoning, the Colorado Springs web page gives a very comprehensive descriptions of each category, and here’s a sampling of the explanations.
R (Estate Residential): Intended for single‑family dwellings with a minimum lot size of 20,000 square feet.
- Maximum Lot Coverage: 20%
- Minimum Lot Width: 100′
- Minimum Front Yard Setback: 25′
- Minimum Side Yard Setback: 10′
- Minimum Rear Yard Setback: 35′
- Maximum Building Height: 30′
63 bank-owned properties came on the market last week
Sunday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of June 8, 2009
During the last 7 days, 63 bank-owned properties came on the market; 39 of them are already under contract or pending. 61% of these new listings went under contract in a week.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
First Quarter 2009 Market report for homes in Northwest Colorado Springs
Colorado Spring Real Estate – Market Report for Northwest – Single Family Homes
Neighborhoods: Includes Homes in Mountain Shadows, Rockrimmon, Pinecliff
Search for Homes in Northwest Colorado Springs
Must Read Articles
- Colorado Homeowners, don’t remodel until you read this!
- Are you a pet owner trying to sell your home
- Should I take my home off the market during the holidays?
The housing market in Northwest Colorado Springs continues to be a BUYERS Market, as there is currently a 11.3 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET“. Sales are down 15% from 2008 to 2007, but average pricing is ONLY down 6.5% from 2008 to 2007.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004 Read the rest of this entry »
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 »
Who is Representing YOU?
The following information is the first in a series of Buyer Tips to provide tips for both the first-time homebuyer and 
the most experienced homebuyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area.
For a FREE Buyer’s Guide, Email KTorline@msn.com
Tip #1
Who’s working for you?
A Buyer’s Agent represents the buyer in a real estate transaction. The Colorado Springs real estate agent becomes the Buyer’s Agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. Under this agreement, the Buyer’s Agent owes his fiduciary responsibilities to the buyer. According to the Colorado Buyer’s agency agreement, a Buyer’s Agent has the following additional duties: Promoting the interests of Buyer with the utmost good faith, loyalty and fidelity, Seeking a price and terms that are acceptable to Buyer, and Counseling Buyer as to any material benefits or risks of a transaction that are actually known by Broker.
The State of Colorado has a form called Definitions of Working Relationships, which does 
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 »
Colorado Springs Foreclosure listings in the Northwest
Homes in Colorado Springs – Northwest as of 4-2-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com,
Homes in Pinecliff, Mountain Shadows, Rockrimmon, Oak Valley, Centennial Glen
Active homes for sale:
- Short sales: 9 (2.8%)
- HUD: 1 (.3%)
- Bank-owned: 20 (6.2%)
- Regular: 281 (87.5%)
Active Homes for Sale as of : 321
- Single Family Homes: 216 (67%)
- Condos/Townhomes/Patio Homes: 105 (33%)
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
Colorado Springs Homes for Sale — New Foreclosure Listings For week of March 23rd
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:
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
Fake HUD sites — Buyers Beware
HUD foreclosures
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Fake websites are popping up on the Internet with the intent of gathering your contact information. An example of such a web site is bailout.hud-gov.us/, although this web site now seems to have been taken down. If this site pops back up, please note that this is not a HUD site, even though it has official looking photos and an official ’government looking’ seal.
When I originally paged through this site, it had a consumer alert tab that warns of fraudulent websites. There is absolutely no connection to HUD. Their disclosure page reveals that they are, “….a for profit business…..” Consumers beware.
The official HUD web site is http://www.hud.gov/, and the site of the company that handles HUD properties in Colorado is www.mcbreo.com
HUD properties continue to provide some great deals for Colorado Springs Home Buyers. Here’s a couple of my favorite HUD properties currently for sale:
3602 Ian Point Colorado Springs, CO 80920 $120,000 Read the rest of this entry »
New rules make condo buying harder
Colorado Springs Condos — just got harder to buy
Search for Condos in Colorado Springs
Fannie Mae has instituted new rules when it comes to giving loans for condos. If the building is brand new, they want to make sure there 
are enough owners to pay for maintenance and preserve the value of the property. These new rules are designed to protect the buyers and lenders but they could also make it harder for the owners to sell them.
Fannie Mae will only guarantee mortgages in new or newly converted condos if 70% of the units are sold or under contract. That 70% could be hard to reach if buyers cannot get financing. In older units, Fannie Mae will not guarantee a mortgage if more than 15% of the other owners are delinquent on the HOA fees.
Fannie Mae wants to reduce the risk for lenders and protect buyers from Read the rest of this entry »
Tax credit Part II
Colorado Springs Vintage Homes is happy to feature a great article by
Bryan Yaninek with Castle & Cooke Mortgage, LLC
Here are some of the top questions complied and answered by the National Association of Mortgage Brokers, the National Association of Realtors and tax advisers!
Part II of Tax Stimulus Explanation
Is it a tax credit?
Part I of the article explained they called it a “tax credit” because you get the tax credit money upfront, but it really was an “interest-free” loan which is paid back for the next 15 years or upon the sale of the home (within 3 years of purchase). The “payback” is based upon the balance owed and not the entire tax credit received.
The next set of rules applies if a home is purchased between January 1 and December 1, 2009. It is a true tax credit and does not have to be repaid. However, if the home is sold within 3 years of the purchase date, the entire tax credit has to be paid back.
How the Dollar Amount of Tax Credit is Figured
Simply calculation here: 10% of the home’s purchase price or a maximum of $8000. A tax credit can be claimed regardless if they obtain a mortgage, a tax-revenue mortgage or the buyer paid cash when purchasing the home.
Potpourri
For home buyers who do not want to wait until the end of the year to claim their tax credit, they should consider filing a W-4 form with their employer, decreasing the amount withheld for federal taxes. They may not get a check at the end of the year, but it will increase the dollar amount of their paycheck.
Another option for FTHB’s is to borrower the dollar amount of the expected tax credit from a relative (usually a parent) and pay it back when the tax credit is received. It could be used towards down payment and closing costs and FHA and VA will allow it. Be sure to check with the lender and the documentation required.
This is more complicated than it seems on the surface. Always, always, always, refer to your tax advisor!
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Other posts by Bryan Yaninek:
- 5 things you need to know about FHA Mortgages
- What the current lending market means to you as a home buyer or a seller
- Tax Credit — Who is a first time home buyer?
Bryan Yaninek is affiliated with Castle & Cooke Mortgage, LLC, a Licensed Mortgage Broker in the state of CO Department of Real Estate.
For more information, please call 719-457-2200.
Kathy (719-287-1049) KTorline@msn.com
Plenty of Foreclosures for sale in Southwest Colorado Springs
Southwest Neighborhoods: Homes in Cheyenne Meadows, Stratmoor Village, Skyway, Broadmoor, Broadmoor Bluffs, Quail Ridge
Search for Homes in Southwest Colorado Springs
Active as of 2-14-09: 417
- Single Family Homes: 302 (72%)
- Condos/Townhomes/Patio Homes: 115 (28%)
Active homes for sale as of 2-14-09
- Short sales: 27 (6.5%)
- VA Owned: 1 (.2%) Read the rest of this entry »
Trees make a neighborhood special
Did you know that if you’ve recently purchased a home that’s ten years or newer in Colorado Springs, you can get a free tree from the city?
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
The City of Colorado Springs has a New Home Tree Certificate Program is a wonderful program where you can get a $100.00 tree certificate.
Here’s some of the facts about the Tree Certificate Program
Then and Now Read the rest of this entry »
Economic Stimulus Plan will help the Colorado Springs housing market
Economic Stimulus Plan
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Many potential Colorado Springs home buyers are on the sidelines; waiting to see what happens with the economy. The stimulus plan certainly provides a good incentive for first time home buyers in Colorado. Add that to lower prices and low interest rates, it all equates to a great time to buy.
Also, According to an article in the Denver Post , “President Obama will come to Denver to sign the landmark economic-stimulus bill. The bill-signing, an unusual event outside of Washington, will be Tuesday at the Denver Museum of Nature & Science in City Park. The president also will give a speech about the economy. ”
To summarize, here are the key points of the Stimulus Plan:
- The first time home buyer tax credit is now $8000. It is a true credit. A first time home buyer is classified as “may not have owned a principal residence in 3 years previous to purchase”.
- It eliminates the repayment requirement of earlier legislation in of the tax credit passed last summer.
- When you sell the house with less than 3 years of ownership, you will have to repay the credit.
- The bill has over $50 billion in it for foreclosure mitigation.
- The full credit is available to those making $ 75,000 or less ($150,000 for joint filers).
Kathy (719-287-1049) KTorline@msn.com
Old North End Housing in Colorado Springs remains strong in 2008
2004 – 2008 Market Report for Old North End Neighborhood
Single Family Homes
Search for Historic Homes in Colorado Springs
Must Read Articles
- Colorado Homeowners, don’t remodel until you read this!
- Do you want your home in Colorado Springs to stand out from the competition?
- A tech savvy realtor can help sell your home
- It’s all about the home warranty
- What are closing costs in real estate?
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-storys, with 3 to 5 bedrooms, 2- 3 baths, and 1 – 2 car garages. The average home has appx. 2500 to 3500 square footage. The absorption rate of 3.3 houses per month shows that there is a 4.9 month supply of houses on the market; the housing market is currently a NEUTRAL -SELLERS MARKET in this area. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”
Recap of December 2008 Activity
Homes Sold in the last month: 4
Recap of 2008, 2007, 2006, 2005, and 2004
| 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of Homes Sold | 39 | 32 | 39 | 41 | 20 |
| Average List Price | $431,400 | $473,300 | $486,711 | $367,526 | $383,072 |
| Average Sold Price | $413,705 | $449,690 | $469,629 | $354,371 | $366,158 |
| Average Days on Market | 104 | 153 | 106 | 86 | 69 |
| Total Square feet | 2857 | 2921 | 3435 | 2646 | 3423 |
| Average # of house sold per month | 3.3 | 2.7 | 3.3 | 3.4 | 1.7 |
Oh no, don’t tell me you have other liens on your short sale property
Are you thinking about a short-sale on your property?
I learned a very valuable lesson last week on a short sale listing. I was having a conversation with a title company; 
and the Escrow Officer reminded me that I should order an O & E (Owner’s and Encumbrances) on my short sale listing. I did so, and surprise ……… there were two extra liens on the property; two judgements. The seller is diligently working to see if he can negotiate to get these liens released; but he’s not sure he can get them to go away. The liens are a large enough dollar amount, that if we don’t get them released, I don’t think we’ll get the lender to accept a short sale.
Consequently, I now ask these questions when pre-qualifiying a seller for a short-sale listing; as not every seller is a good candidate for a short sale. As much as I want to help sellers in trouble, I need to remind myself that I can’t solve all of their problems; especially when it comes to liens on the property. Some of the questions I now ask are:
- Do you have a second mortgage on the property? Or two? Even by an individual?
- Who owns Read the rest of this entry »
Have fun and help out these Colorado Springs community organizations in February
Don’t want to be stuck indoors with nothing to do in the magical month of February. Well, mark your calendars now and you too, can have a ball (or at least attend one)!
On February 21, 2009, you can attend the 26th annual Heart Ball to assist The American Heart Association held at The Cheyenne Mountain Resort which promises to be an exciting evening of dining, dancing and a silent auction to help protect our loved ones against heart disease and stroke, through research and education. Be sure to mark your calendars and put on your best black-tie and gowns which will help make a difference in the lives of those touched by heart disease and stroke. For more information call Tonya McKenzie 719-244-9587.
Still wanting to do something else that weekend? How about attending Read the rest of this entry »
