Buyers need to be aware that these homes sold for an average list to sale ratio of 96%. Take this into consideration when making your initial offer. This market area does not support super low offers. That will only serve to make the seller angry. View all of the comparable sales for the property and area that your subject property is in so you can make the best offer.

Sellers must take not however that we currently have a 5.32 month supply of homes on the market. This does not necessarily mena that it will take that long to sell your property but it does mean that you have to take note of the possibility. Homes sell based on price, condition and location., To position your home so that it will sell instead of just being listed, call me at 264-777 or click here to contact me.

The newest location of Rosies Diner just opened a few weeks ago. I have to admit that we’ve already been there twice already. It’s so nice to have new places to eat in the Northgate area. In the past we’ve gone up the road a few minutes to the Monument location but now we drive south on Voyager Drive to the newest location.

Actually, the Monument store feels a bit more “diner-ish” but the new place is biggers and the food is great! I was there a few weeks ago during the grand opening and while we waited they offered everyone free little milkshakes. What a nice treat.

They actually have juke box music playing and the atmosphere is definitely that of a classic 1950′s diner. The first location was in New Jersey and opened in 1946. Remember the old TV commercials with Rosie and the paper towels? That diner was the inspiration for those TV spots. From that first location the chain has grown quite bit with now two locations in the Colorado Springs area.

Take a look at the menu and see what they offer. I’ve had the burgers, the prime rib and I love the meatloaf. All good old-fashuoned American diner food! We like to find out of the way diners to eat when we are on road trips. The last one we found was Mom’s in Salina, Utah. What a treat that was. The coconut cream pie was so good and the waitress knew to bring it out before the meal. Too funny! The Rosie’s Diners in the Colorado Springs and Monument areas are equally charming and serve yummy food. Give it a try.

Colorado Springs Location: 11550 Ridgeline Drive, Colorado Springs, CO 80921 MAP

Monument Location: 411 Hwy 105, Monument, CO 80132  MAP

Well, yes and no.

The answer will depend on where you live and how you live. For people who have a job that does not allow you to come in a bit later in the morning after a big snow then you will want to invest in a good set of snow tires.  Snow tires are actually made of a different rubber mixture than regular all-season tires so they work differently when gripping the road and snow. The treads are bigger as well.  All season tires are certainly less hassle but if you are the kind of person who delays buying new tires until the last minute, they won’t serve you well in the snow and ice.

If you will be buying a new vehicle when you arrive in Colorado Springs, it might be wise to invest in a four wheel  or all wheel drive car or SUV.  This is a must if you live in the foothills or Monument area. In my area, Flying Horse Ranch, the interior streets never get plowed so just getting out of the neighborhood can be an issue even in a four wheel drive SUV. I know people who buy a new car just before they set out to move to Colorado Springs. Great idea unless you bought a two wheel drive Suburban. Pointless and poor resale value in Colorado Springs!

If you plan to live in the mountains then chains might be needed but us city dwellers have no need of them.  I am native of Colorado Springs and I have never had to put chains on my vehicle. If it is that bad outside, we just stay home. There is definitely something to be said for a snow day. We stay inside with a pot of chili and movies to watch. Makes for a good relaxing day!

Bottom line here is not to panic about winter driving. Make sure that you have at least all weather tires with plenty of tread left on them. Keep your tires inflated to the proper setting. Drive slower than normal and leave early to allow for slower speeds of travel. Driving in snow is no problem if you are prepared and take your time.

In Colorado Springs we get to enjoy wonderful, clean drinking water. What a privilege it is to just go to the faucet and get cold water that tastes great. My Arizona friends are not so lucky. In Scottsdale, everyone has to have a water cooler with those big five gallon jugs of water. This drives me crazy! The cooler takes up space in the kitchen and the jugs are really heavy when you have to change them out.

Colorado Springs Utilities publishes reports on the water quality and sends them out in the billing statements.  The report can also be viewed online along with lots of other interesting data about our water.

The water we drink in Colorado Springs mostly comes from mountain streams. Sources near Aspen, Leadville and Breckenridge provide the crisp clean water that we many times take for granted. This water is stored in reservoirs on Pikes Peak while it waits to be used.  The fact that the water travels in underground pipelines makes me feel better. This keeps the water from contamination from herbicides and pesticides. The city also uses local surface and ground water sources such as wells and creeks.

We are very lucky to have such good water here! If you are planning amove to the city soon, don’t worry about drinking bottled water. Ours tastes great right from the tap!

 How do lenders determine who is approved for a credit card, mortgage, or car loan?  Why are some individuals flooded with credit card offers while others get turned down routinely?  Because creditors keep their evaluation standards secret, it is difficult to know just how to improve your credit rating. It is important, however, to understand the factors and to review your credit report periodically for any irregularities, omissions, or errors. Reviewing your credit report annually can help you protect your credit rating from fraud and ensure its accuracy.

Credit Evaluation Factors

Many factors determine your credit.

Here are some of the major factors considered:

Age

 Residence

“Authorized user”

payment history

 Bankruptcy Charge-offs (Forgiven debt)

 Child support

 Closed accounts and inactive accounts

 Payment history

 Installment loans

 Collection accounts

 Credit limits

Department store accounts

Finance company credit cards

 Mortgages

Major credit cards

Fraud Inquiries

Obtaining Your Credit Reports

Credit reports are records of consumers’ bill-paying habits. Credit reports are also called credit records, credit files, and credit histories and are collected, stored, and sold by three credit bureaus, Experian, Equifax, and TransUnion.Recent changes to the Fair Credit Reporting Act (FCRA) require that each of the three credit bureaus provide you with a free copy of your credit report, at your request, every 12 months. If you have been denied credit or believe you’ve been denied employment or insurance because of your credit report, you can request that the credit bureau involved provide you with a free copy of your credit report – but you must request it within 60 days of receiving the notification.

Disputing Errors in Your Credit File

The Fair Credit Reporting Act (FCRA) protects consumers in the case of inaccurate or incomplete information in credit files. The FCRA requires credit bureaus to investigate and correct any errors in your file.Tip: If you find any incorrect or incomplete information in your file, write to the credit bureau and ask them to investigate the information. Under the FCRA, they have about thirty days to contact the creditor and find out whether the information is correct. If not, it will be deleted.

For more information or to talk with a mortgage lender, contact me here or call 719-264-7777

Fall is the time to start getting organized after a summer of fun and relaxation. Rose Kelly of Professional Mortgage Associates gives us a few tips to help get started. Read on below and get started!

Prepare a Post-Mortem Letter
Review or prepare a post-mortem letter to your spouse spelling out the location of your assets and property (assets of a deceased are often lost because a spouse may not be aware of them or know their location), the names of all your advisors, and any other information your spouse should know to minimize his or her burden in the stressful period after your death.

Get Your Social Security Statement of Benefits

Request a Personal Earnings and Benefit Estimate Statement from the Social Security Administration. This statement summarizes your Social Security earnings history and provides an estimate of the benefits to which you are entitled. It is important to verify that you have been credited for all of your earnings. You can also use this statement in your retirement planning. We can help you with this statement; just give us acall at 719-388-2412

Review Your Budget vs. Actuals for YTD 2011
Compare July income and expenditures with your budget. Make adjustments as appropriate to your August expenditures. Make sure you invest your planned monthly savings amount.

Estimate Your Tax Liability
Total up your taxable income, capital gains, and deductions through this date. This information can be used to plan your estimated tax payments, and perhaps avoid or minimize any underpayment penalties.

To ask more financial questions or to obtain current mortgage info, give Rose a call. Her contact info is below.

Rose M. Kelly
Mortgage ConsultantNMLSR ID10326
Professional Mortgage Associates, LLC | 1740 Chapel Hills Drive | Colorado Springs, CO 80920
MAC M1449-011
Phone 719.388.2412| Cell 719.650.8228

For those of us that love Steve Martin’s movie The Jerk, this phrase along with the excitement that it carries is familiar.  I went down to the Criterion Bike Shop  yesterday to get my copy. Colorado Springs is a great city for bike riding. We have city street trails as well as many off road trails.
Legend

The map is fairly large. I guess I was expecting some kind of laminated fold out pocket type of thing but thats not what this map is. I think this map is meant to be much more than that. When folded out completely the whole city is viewable along with all of the trails. The trails are color coded to make it easy to know what kind of trail to look for based on the type of ride you want to do.  For instance the red markings indicate an area that has “Very High Traffic-No bike facilities.”  Translation: Crazy, busy street not fit to ride with little kids! There are 9 other designations/colors to look for on the map. My search is for the brown lines that indicate either a paved trail or an unpaved trail.

Lots of people in Colorado Springs ride their bikes to and from work or school. The map will help these people find the best routes as well as facilities for bike storage. Bus transfer stations are also listed for those that like to bike and ride the bus in the same trip. Each of our Metro buses have bike racks on them. This makes it easy!

On the back of the map, there are lists of city resources for bike riders along with lists of biking clubs and bike shops. This map is a great resource for all bikers in Colorado Springs! Get your copy today and start riding. It’s well worth the cost of  $7.95!

Common Question

Can you rent out a home that has a VA mortgage on it? Yes, with certain conditions. VA loans are given only to Veterans who plan to occupy the home as their principle residence. This means that you cannot use your VA loan benefit to buy a home to fix and flip or to rent out as an investment property in the first place.  As a side note, I have never known how VA will monitor this but you don’t want to be the guy doing it on the day they implement their nationwide occupancy check program! I suspect that they may do spot checks using utility records, insurance policy checks or other methods. Again though, keep in mind that VA is a goverment agency so all bets are off where compliance is concerned.

If you find yourself in a situation where you have been living in your home for a while and get PCS orders, you may want to consider finding a renter for your home. Lots of military people who own homes in Colorado Springs choose to do this. They may be planning to come back here for retirement or simply want to keep the property as an investment. I had an Air Force client a few years ago who bought a property at each of his duty stations, to include England, and then rented them out when he PCS’d. Owning an investment property has certain tax consequences (good and potentially bad) so you need to seek out the advice of a qualified tax professional on this subject, primarily before selling a property that you have been renting out for a while.

Lots of people do not buy a home when they move to Colorado Springs for many different reasons. Maybe they already own a home in another location. Possibly they have a few dings on their credit that will prevent them from buying but they are well able to pay their rent each month. Maybe they are here with the Canadian military and they can’t buy but their government pays the rent. They make excellent tenants. I have several clients who rent their homes out to other military personnel and they have success without even hiring a property manager. This is easier in certain price ranges than others. It all depends on the kind of property you have to rent out.

Bottom line here: the answer is yes, you can rent out a home with a VA loan! Just be sure to do it for the right reasons and you will be fine. For more info on this subject, contact me. I can assist you with buying a home or planning to rent one out. You may also need to evaluate your potential rent amount which might help make the decision in the first place. I am here to help-just call me at 719-264-7777.

When a security freeze is added to your credit report, all third parties whose access is not exempt under law will not be able to access your credit report without your consent. If you have been a victim of identity theft this service is highly recommended.This is a free service in all states if you have been a victim of identity theft. Inother states the cost is $10-$15. There is not charge in Colorado to initiallyfreeze your file for victims and non-victims of identity theft. Once you have ordered a security freeze there are still some agencies that can have access to your credit file:

• Companies you have a current financial relationship with.

• State, local law enforcement agencies, child support agencies.

• Governmental agencies

• Uses falling under the FCRA-disclosure to the FBI for counterintelligence.

• Credit monitoring services that the consumer has subscribed to.

Please note: Placing a security freeze on your credit file can delay the processing/acceptance of credit applications for a mortgage, auto, credit card, etc. as the freeze will have to be lifted in order for your credit to be pulled. Please plan accordingly if you are planning on submitting an application for credit so that your credit file can be accessed. Each bureau has different criteria for requesting a security freeze.

For Equifax:

Equifax Security Freeze

PO Box 105788

Atlanta, GA 30348

www.equifax.com or

https://www.freeze.equifax.com/Freeze/jsp/SFF_PersonalIDInfo.jsp

You can put a freeze on your file with Equifax either by mail or online through the above link. If you choose to request by mail you must include your name, address, date of birth, social security number, and proof of current address such as a utility bill. Once they receive the request they will mail you a confirmation with a 10 digit security freeze confirmation number. You must have this number to request a lift of the freeze. If you are a victim of identity theft you much also include a copy of the police report or identity theft report. Lifting a freeze from Equifax must also be done by mail.

For Experian:

Experian

PO Box 9554

Allen, TX 75013

www.experian.com or

https://www.experian.com/consumer/cac/InvalidateSession.do?code=FREEZEC

ENTER

You can put a freeze on your file with Experian either by mail or online through the above link. If you choose to request by mail you must include your full name with middle initial and any generation (Jr., Sr, etc), Social Security number, date of birth,current address and previous address (if less than 2 years). You must also enclose one copy of a government issued ID and proof of address (utility bill, bank or insurance statement). They will mail you a confirmation and an access code to lift your freeze. You can order a temporary or permanent lift either by mail or on line.

For Trans Union:

Trans Union

Fraud Victim Assistance Department

PO Box 6790

Fullerton, CA 92834

www.transunion.com or

http://www.transunion.com/corporate/personal/fraudIdentityTheft/fraudPrevention/securityFreeze.page

You can freeze your file with Trans Union either by mail, online through the above link, or by phone 888-909-8872. If you choose to request the lift by mail you must provide proof of your current residence such as a copy of a state issued identification card of valid driver’s license.