Very Vintage Vegas

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• Wood floors and winter don’t always mix
• Homes Sales and pricing continue to increase in Old Colorado City in 2013
• Colorado Springs gated communities
• Oldest building in Colorado Springs
• Colorado Real Estate Terms: What is a Listing Agent? What is a Buyer’s Agent?
• 2013 Housing report for Central Colorado Springs
• FHA changes loan limits will soon take affect in El Paso County
• 8 Winter fire safety tips
• 7 key things to know about seller concessions
• Is it too late to purchase a Short Sale in Colorado Springs?

Wood floors and winter don’t always mix Posted: 07 Feb 2014 07:42 AM PST  Colorado home buyers like wood floors  Wood floors and winter weather don’t always mix, and since wood floors are very popular in Colorado it’s important to know how to maintain them. Search for Colorado Springs Homes Let’s first start with why home owners like them. Even though they are expensive to install,  if they are maintained properly they can last the lifetime of a house.  Certainly can’t say the same for carpet! And even thought tile is also very durable, it’s not appealing for many rooms in Colorado as it has a tendency to stay cold.  Who wants to put their feet on a cold floor in the middle of winter! One of the other major appeals of wood floors is that they are easy to keep clean. And it’s also important to note, that some Realtors feel that houses with well maintained wood floors sell faster that homes with carpet. Here’s some tips for maintaining wood floors. (1) If the floors are in the entryway where snow, ice and water can get tracked in, make sure there is a place to take off shoes by the entryway.    A good durable mat by the entryway can be a valuable investment. (2) Vacuum them at least once a week to remove dirt and dust.  Use a vacuum cleaner that doesn’t have a beater bar on it. (3) Prevent scratches by placing felt protectors under the legs of furniture and be especially careful when you are moving the furniture. (4) Minimize water exposure and clean up any liquid spills immediately.    If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

Homes Sales and pricing continue to increase in Old Colorado City in 2013 Posted: 06 Feb 2014 12:34 PM PST Colorado Springs Housing Market Report for Old Colorado City Homes, Single Family Neighborhoods Include:  Crown Hill Mesa, Colorado City, and Old Colorado City Zip code 80904, 80905, 80903 Search for homes in Old Colorado City Area Colorado Springs Here’s a quick summary of the Real Estate Market for Old Colorado City Area Colorado Springs as of  12-31-2013 Average pricing has ]increased by 18% in 2013 vs. 2012 Average Number of homes sold increased by 30% 2013 vs. 2012 Days on Market has decreased in 2013. Most Expensive Sale in area: Address:  219 Crown High Ct. Price:  $677,000 Square Feet:   3,134 Least Expensive Sale in the area: Address:  2318 Howbert Street Price:  $39,050 Square Feet:   682     2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 Active 53                   Number of Homes Sold 229 176 199 171 174 151 194 212 295 238 Average List Price $200,474 $169,290 $157,199 $166,203 $164,989 $178,157 $180,847 $178,932 $200,019 $169,918 Average Days on Market 57 103 77 72 80 81 73 70 73 55Old Average # of house sold per month 19.1 14.7   16.6 14.3 14.5 12.6 16.2 17.7 24.6 19.8 Related Articles: Styles of Historic houses in Colorado Springs — Part II Styles of Historical houses in Colorado Springs — Part I Homes in Downtown Colorado Springs continue to sell FAST Historic homes also have pleasant surprises Do you want to buy a Colorado Springs Historic Home?   This Colorado Springs Real Estate report contains information on Single Family homes in Old Colorado City area in Colorado Springs This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.

Colorado Springs gated communities Posted: 05 Feb 2014 09:31 AM PST Where are the gated communities in Colorado Springs? Search for Colorado Springs Homes Search for Colorado Springs Luxury Homes I’m often asked by people moving to Colorado Springs, for a list of developments in the area that have guard houses at the entrance with security.    For a long time, there were really only 2 areas that met this criteria, Kissing Camels and Cedar Heights.  But during the building boom years in the 1990′s, were many more developments built that are gated communities.   Here’s a list of some of the more popular gated communities in Colorado Springs.   Black Forest Reserve – In Black Forest, Northeast of the city # of houses currently for sale:  17 Flying Horse — in the Northgate area # of houses currently for sale:  62 Stratton Preserve – in the Southwest area, close to the Broadmoor # of houses currently for sale:  2 Broadmoor Heights - in the Southwest area, close to the Broadmoor # of houses currently for sale:  9 Kissing Camels – in the west area # of houses currently for sale:  6 Cedar Heights – in the west area, not far from Manitou Springs # of houses currently for sale:  2 Star Ranch – in the Southwest area, close to the Broadmoor # of houses currently for sale:  1 High Forest Ranch – In Black Forest, Northeast of the city # of houses currently for sale:  13     If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

Oldest building in Colorado Springs Posted: 31 Jan 2014 05:00 AM PST  Old Colorado City History Search for homes in Old Colorado City   One of the oldest buildings in Colorado Springs is Dr. Gavin’s 1859 log cabin located in Bancroft Park in Old Colorado Springs.   Dr. Gavin was a prominent doctor in the Colorado Springs area.  The cabin was originally used for seeing patients, as well as for his living quarters. Bancroft Park is located in Old Colorado City, which once served as Colorado’s capital.  Bancroft Park is located on the south side of Colorado Blvd., and it’s currently used for many activities throughout the year including Farmers Market and art festivals. The cabin has been used for many things, including a county building, a courthouse, an antique store, a chinese laundry, and an opium den. The cabin started in one location on Colorado Blvd and was moved to the Broadmoor golf course, then to the lawn of the state capital, then eventually hauled back to Bancroft park; which is where it currently stands.   Related Articles: Neighborhood Profile, Historic homes in the East End Addition in Central Colorado Springs Neighborhood Profile, Historic Old North End in Colorado Springs Average prices have increased for Homes in Central Colorado Springs 9 neighborhoods with Historic Colorado Springs Homes For other information on the General check out these articles: The Young Years of Colorado Springs Tea and crumpets in Colorado Springs The End of an Era in Colorado Springs   If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

Colorado Real Estate Terms: What is a Listing Agent? What is a Buyer’s Agent? Posted: 29 Jan 2014 04:56 AM PST  Colorado Real Estate Terms Search for Colorado Springs real estate Like all industry’s, the real estate industry has it’s fair share of real estate jargon.  These are terms that realtors use day in and day out, but the general public doesn’t understand these terms as they are industry specific. Let’s first start with the term Listing Agent.  What the heck does that mean? When a home owner wants to sell their home, they typically list it with a Realtor to provide marketing services and put it on the Multiple Listing Service.  In Colorado, the Listing Agent has a fiduciary responsibility to the seller. According to the Colorado Definitions of Working Relationships   “Seller’s Agent: A seller’s agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller's agent must disclose to potential buyers all adverse material facts actually known by the seller's agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller.” OK that sounds easy enough to understand. Then what is a Buyer’s Agent or a Selling Agent?   A Selling Agent, is an agents who shows your property to potential buyers and who are representing a buyer.  They are often referred to as a Buyer’s Agent or a Selling Agent, both terms mean the same thing.  In Colorado, a Buyer’s agent has a fiduciary responsibility to the buyer. According to the Colorado Definitions of Working Relationships “Buyer’s Agent: A buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer's agent must disclose to potential sellers all adverse material facts actually known by the buyer's agent including the buyer’s financial ability to perform the terms of the transaction and if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer.” Related Articles: Real Estate Agent or Realtor? What's the difference? How to choose a Buyer's Agent Real Estate Agents have a fiduciary relationship  If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

2013 Housing report for Central Colorado Springs Posted: 28 Jan 2014 05:20 AM PST Colorado Springs Housing Market Report for CENTRAL Homes, Single Family Homes Neighborhoods Include:  Homes in Downtown, Old North End, East End Addition Zip code 80903 and 80907 Search for homes in CENTRAL Colorado Springs Here’s a quick summary of the Real Estate Market for Central Colorado Springs for 2013. Pricing increased by 5% from 2013 to 2012 Number of homes sold increased by 22% from 2012 to 2011 Days on Market decreased by 35% from 2012 to 2011 Most Expensive Sale in area: Address:  707 S. Hancock Price:  $24,900 Square Feet:   638 Price Per Square Foot:  $ 39.00 Area:  Prospect Lake Least Expensive Sale in the area: Address:  1600 N.Cascade Price:  $1,750,000 Square Feet:  12,328 Price Per Square Foot:  $141.95 Area:  North End Major Neighborhoods Bonnyville:  Average Price  $184,860  Price per square foot: $159.00 Average age built in 1947 East End:  Average Price: $193,315   Price per square foot: $119.00 Average age built in 1942 Knob Hill:   Average Price: $121,101   Price per square foot: $88.00 Average age built in 1941 Old North End:  Average Price: $382,326   Price per square foot: $140.00 Average age built in 1921 Smarts:  Average Price: $136,480 Price per square foot: $77.00 Average age built in 1960 Stratton Meadows  Average Price: $88,094  Price per square foot: $85.00 Average age built in 1954 Old North End: Average Price: $382,326 Price per square foot: $140.00 Average age built in 1921 Smarts: Average Price: $136,480 Price per square foot: $77.00 Average age built in 1960 Stratton Meadows Average Price: $88,094 Price per square foot: $85.00 Average age built in 1954 This Colorado Springs Real Estate report contains information on Single Family homes in Central Colorado Springs This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.  If you enjoyed reading this article, why not Subscribe to be notified of the next one?  To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

FHA changes loan limits will soon take affect in El Paso County Posted: 13 Dec 2013 05:27 AM PST FHA loan changes   Effective January 1st 2014 the maximum FHA loan limits in El Paso County will decrease from $325,000 to 271,050.   If a buyer purchases a home for $280,850 and puts down the minimum downpayment of 3.5%, they will be within the maximum FHA loan limits .   According to one of the press releases I read, there are 650 counties that are going to be receiving lower FHA loan limits as of January 1st. It’s also important to note that the maximum limit varies in every state on a county by county basis.  As an example, in Douglas County, which includes homes in Castle Rock and Larkspur, the maximum rate is $391,000.   In Elbert county, which includes portions of Black Forest, the maximum rate is also $391,000. According to a conversation I had with a lender I use, if a buyer is already under contract and has a FHA case number assigned, they will still be able to qualify for the higher FHA loan limit currently in affect.    If you have any questions, contact your lender.    If you would like some names of some lenders to talk with, let me know, and I’ll email you a list. FHA loans are used by many buyers, partially because they require a loan down payment from the buyer.  In November and October 2013 FHA loans were used by 12% of the buyer to purchase homes in the Colorado Springs area. I’m not sure how I think this will affect the Colorado Springs housing market in 2014; as there are definitely other loan options available for buyers who only have a small down payment.  Time will tell. Related Article: Financing matters! Why do I have to pay mortgage insurance?  If you enjoyed reading this article, why not Subscribe to be notified of the next one?  To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

8 Winter fire safety tips Posted: 09 Dec 2013 06:34 AM PST  Fires risk increases during the winter in Colorado Springs With the brutally cold weather we’ve currently been having in Colorado Springs, it’s made me think about the fire hazards during the winter time.     Also since the December holiday season typically includes cold weather, lots of cooking,  holiday decorations, and lighted candles, it’s understandable how the fire risk increases in the winter. Here’s some quick facts about winter fires: Fires are more prevalent in the winter Cooking is the leading cause of all winter fires;  statistics show that 50% of all home fires start in the kitchen Some of the other causes of winter fires include:   candles, Christmas trees, turkey fryers, clothes dryers, portable heaters, gas appliances, and cigarettes Here’s 8 fire safety tips for the holiday season: If you are cooking, don’t leave heated pots and pans unattended in the kitchen Don’t put anything close to a space heater Keep your live Christmas tree watered, don’t let it dry out. Don’t overload your electrical sockets with Christmas lights. Don’t leave lighted candles unattended Don’t use your oven or stove top to heat your home Make sure your fire detectors and carbon detectors are functioning property Have a fire extinguisher in your kitchen.  Take  a couple of minutes to look it over and make sure you know how to operate it. Related Articles US Fire Administration Colorado Springs Fire Department      If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

7 key things to know about seller concessions Posted: 03 Dec 2013 04:20 AM PST 7 key things to know about seller concessions   (1) What is a seller concession? It is a financial contribution from the seller to the buyer, typically negotiated as part of the Buy Sell contract in Colorado. (2) What can a seller concession be used for? It is often used to help pay for the closing cost that  buyers incurs in getting a loan to purchase a property. (3) Why would I ask for a seller concession? As a buyer, you may have great credit scores and have already gotten approved for a loan from a lender.  But the lender is asking for 20% down, which you have saved, but it’s also going to cost about 3% of the loan for the closing costs.   If you negotiate seller concessions in the contract, it may make the difference in having the financial ability to purchase the home. (4) How are closing costs for VA and FHA loans different? There are certain costs associated with FHA and VA loan that are called prepaid expenses and the buyer is not allowed to pay for these costs.    Your lender can give your more details about these costs. (5) Does the lender need to approve the seller concessions? It’s always a great idea to have a conversation with your lender before deciding on how much to ask a seller to pay in seller concessions.  Many loans will only allow a maximum of 3%-6%   in seller concessions to be paid for by the seller.  And nothing is more frustrating than getting a seller to agree to a certain amount of seller concessions and then coming to find out your lender won’t allow you to use all of the amount you have negotiated. (6) Is it common to ask for seller concessions? This all depends on where you are purchasing a home.  In the Colorado Springs area many buyers ask the sellers for seller concessions, but as the market has started to change to a sellers market, more and more sellers aren’t willing to pay for seller concessions. (7) Why wouldn’t a seller agree to seller concessions? Remember, all most sellers care about is selling their home for the most value.   And in Colorado Springs, the seller typically is already paying for a commission to sale the house, which can range between 4% and 6%.  And if the buyer is also wanting to negotiate the price of the home plus ask for seller concessions, the seller may not accept the offer without countering.  If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049)   KTorline@msn.com

Is it too late to purchase a Short Sale in Colorado Springs? Posted: 20 Nov 2013 07:32 AM PST Colorado Springs Short Sales Want a list of all of the short sales on the market?  Email Kathy at KTorline@msn.com Is it too late to purchase a short sale home in Colorado Springs?  Now since the market has turned, are they all gone? I did a quick search in the MLS today, and there are still 396 short sales listed for sale, and there are currently 3822 homes for sale.  That equates to 10% of the listings are short sales.    Now even though that is down substantially over where it was a couple of years ago as I think it was close to 35% several years ago,  there are still short sales out there, but this varies immensely in different neighborhoods: As the housing market has started to recover in Colorado Springs, some of the homes that would have been short sales are no longer short sales.  Also, I think some banks aren’t very eager to accept short sales, as they may think the house is going to be worth more in 9 months vs. now; maybe the bank just decided to let a property foreclose. Black Forest      2 short sales Briargate          9 short sales Central area         10 short sales East area         14 short sales Fountain area          35 short sales Northeast area       10 short sales Northwest area       3 short sales Northgate area    1 short sale Old Colorado City area          2 short sales Powers area          11 short sales Southeast area          21 short sales Southwest area        5 short sales Monument area       2 short sales West area    2 short sales As you can see from the information above, there are still some short sales on the market, there are more in Fountain and the Southeast area of Colorado Springs than other areas of town. If you decide to purchase a short sale, make sure they are the right fit for you: How soon do you need to move?   (They aren’t quick) Will your financing work for the property?  (They are typically sold as-is and the seller doesn’t have the money to repair anything.) Do you need to lock in your interest rate?  (Again, they aren’t quick.) Do you absolutely love the house?  (If so, you need to realize not all short sales close and not all short sales are accepted by the lender) Is your Buyer’s agent experienced in short sales?  (If not, find a different agent.) Related Articles: Short Sale Addendum help answer questions Are Colorado Springs short sale disclosed? 13 reasons Colorado Springs short sales don't close BPO's can kill a short sale The 2nd can blow the deal If you enjoyed reading this article, why not Subscribe to be notified of the next one? To find out more information about Colorado Springs, Call …… Kathy (719-287-1049) KTorline@msn.com

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