All new and ready for quick closing! This beautiful Pinon Valley tri-level has been updated for you! All new interior paint and carpet. New lighting and hardware in kitchen. Formal living room plus the added bonus of a lower level family room with fireplace. Three bedrooms and two baths. You’ll love the deck just off the master suite. Perfect for enjoying your morning cup of coffee!

The Pinon Valley area is known for its parks. Ute Valley Park is within walking distance. This park features hiking and biking trails for avid outdoor enthusiasts. The grassy Pinon Valley Park is the perfect place to take the kids and dog for a walk or to throw a frisbee. Schools for this home are among the highest rated in the city. Chipeta Elementary is very close and Holmes Middle School and Coronado High School are within a short drive.

This home offers the peace and quiet of the area while still being an easy drive to everything you need to get to. Contact me today for your private viewing.

 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.

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.

Possibly. Keep in mind though that this process is dependent on may variables determined by your mortgage lender. First of all, visit your lenders web site to see if they offer loan modifications. They will list the steps required to modify the loan. The problem sometimes occurs when the lender tells the homeowner that it will be no problem to lower the monthly payment and then at the end of the process, the promises made by the lender in earlier conversations are not kept.

Each modification program has different rules but generally the homeowner must be currently living in the home and not using it as an investment property. Next the homeowners must be able to show that their income has decreased and there is a hardship in paying the current payment.  Once all of the criteria have been met and the correct documentation has been submitted to the lender, the lender may or may not modify the loan.

I do not recommend employing the services of a so called “Loan Modification Prifessional” that will do the paperwork for a fee. If you simply must enlist the help of a service, please do so ONLY if you can pay upon the successful completion of the loan mod. Many companies charge borrowers upfront for the loan mod and then are unable to deliver. Think about it, if you really had three or four thousand dollars laying around would you need to modify your loan in the first place? Don’t do it.

Statistics show that a huge percentage of the loans that actually do end up getting modified end up in foreclosure anyway. Most times, if you are having trouble paying the monthly payment, a savings of a few hundred dollars per month is not going to make any difference.

Short Sales

Short sales make the most sense to me for those having trouble paying their monthly payments. The process can definitely be successful when done correctly.  When you do a short sale, the lender agrees to take less for the house than you currently owe on it.  Again there are strict criteria on who can qualify to sell their home short and who cannot. Those who cannot would be those with obvious equity and no hardship. Those who can will meet the criteria listed below.

• you have a hardship, such as a job loss, divorce or medical emergency
• you owe more than your house is worth
• you’re unable to afford your current monthly mortgage payment
• you’re unable to modify your current home loan

Step one is to call us at 719-264-7777 and make an appointment to go over your current situation. Step two is to determine the true value of the property and list it for sale in the MLS. Beware of the scammers will instantly buy your home for cash or at least claim to do that.  Banks are getting wise to these scams. The buyer makes an offer to purchase your home for a super low amount. They then turn around the same or next day and try to resell the property to a new buyer. In essence this steals equity from the lender and can be considered fraud. Buyers who intend to resell the property must disclose their intention as part of the sale so the lender is made aware of this condition. Most lenders do not look favorably on this practice.

 Colorado State laws are also very strict about waiting periods before an investor can transfer the title to a home purchased in a short sale. These shady dealings are exactly why you should never trust the sale of your home to some company who clains to just want to help people.  Many of these companies advertise on craigslist.com or use hand made signs on street corners. I have a 21 year real estate career in Colorado Springs and real estate license that I do not want to lose. All of my dealings are done in a professional manner. I just can’t risk it for some flaky investor doing things the wrong way!

Short sales are not for the faint of heart. The process can be tedious. Lots of paperwork has to be filled out, signed and sometimes signed again. Homeowners simply can’t do it themselves. The real estate closing fees and commissions are figured in the final payoff to the bank. Most sales do not require sellers to bring any money to closing. Once again, if you had thousands of dollars laying around, would you be thinking about a short sale? Probably not.

Selling a home short will not damage your credit as much as a foreclosure. Again, you will have missed payments and that dings your credit. The real focus should be on finding a more affordable place to live so you can start fresh. I help people just like you in all stages of mortgage distress. The key is to take action immediately! Contact me now so I can advise you and you can make a plan for a better future.

This is a common question that I hear all the time. There is no simple answer. The thing to know first is that if you miss a payment, the bank is not going to foreclose immediately.  Foreclosure is a lengthy process and costs lenders a lot of money so they don’t want to have to foreclose on their borrowers. If you act quickly, you will have time to make an informed decision.

Can I make a partial payment?

No! It’s all or nothing with your monthly payment. Banks will not accept a partial payment and they most likely will send back your check uncashes.

The key is to be proactive in avoiding foreclosure if you think you can’t make your payments. Many people are faced with job losses, illness or family emergencies that cause financial hardship. First of all know that you are not alone.  We specialize in working with home owners who are in a place where making payments is a real problem.

What are the options?

First it is good to sit down with a real estate professional (notice that I said professional ) to discuss your unique situation.  My concern is that there are so many vultures running amok in this market that will take advantage of unsuspecting home owners in distress.  They will offer to buy your home and close immediately. I ran across a couple the other day that told me that they are not about “the money” but really concerned about  “the people”. Really? Real estate is my business. I do not buy homes from owners in distress. I will give you counsel and offer options. That’s all. No weird lease-options, seller buy back or money back (illegal) options. Be very careful! Contact me right away so I can advise you in a professional and discrete manner.

Tomorrow…

Loan Mod or Short Sale?

What is a Deed in Lieu?

When a homeowner is facing true hardship and does not want to go through the entire official foreclosure process, an option called a “Deed in Lieu” is available in some circumstances.  This option may have a lesser impact on your future credit than a full-blown foreclosure. Depending on your situation,  this can be an option.

There are certain criteria that need to be met in order for the lender/bank to approve a Deed in Lieu. We’ve all heard stories of homeowners just mailing the keys back to the bank but I don’t recommend that procdure! Banks don’t just accept the keys and wipe the slate clean. The Deed in Lieu has to be approved by the lender in order to be complete. Mailing the keys back does nothing and who knows who gets the keys and what they do with them.

There are several criteria that might qualify a homeowner for the Deed In Lieu option.

• You are unable to afford your current mortgage
• You are unable to modify your current mortgage to an affordable payment
• You have tried unsuccessfuly to sell your property using a short sale
• You are facing foreclosure and want to minimize the impact on your credit
•  True Hardship-job loss, divorce, medical emergency

Doing a Deed in Lieu will impact your credit and will be reported to the credit bureaus. The reports will show that the loan was in the default stage and that you did the Deed in Lieu of foreclosure.  This will still stigmatize your credit report. This option should only be considered after trying to do a loan modification or a short sale with the latter being the most likely option to resolve your situation.

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!

As of September 30,2011 the new FHA loan limits will be going down. Please remember though that this means the loan limit and not the sales price. FHA requires at least a 3.5% down payment on every loan. For a single family home in El Paso county, the new FHA loan limit will be $271,050 instead of the current $325000. I personally do not see this as a problem in the Colorado Springs area.

 FHA is meant to be a program to assist first time buyers get into a home with a minimal down payment. In our market you can find nice homes under 275K.  We also are an area where a larger percentage of the first time buyers are using their VA mortgage benefit. There are many more FHA mortgages being written these days but I do not expect the new changes to have a big impact.

If you are thinking about buying a home in the near future, contact me so we can talk about your options. The FHA rate today is hovering around 3.75% depending on credit score and a few other factors. This is a great rate! VA rates are in a simlar range. We are at the point now where buying a home is becoming less expensive than renting one. This might just be the time to take the plunge and become a home owner!

All New Interior!

This upscale remodel will put a smile on your face the minute you enter the front door! Imagine moving into a brand new home. This is the one! Over 1800 square feet. All new carpet, interior paint and upscale lighting. The kitchen is a cooks dream with brand new stainless appliances, slab granite counters and upgraded cabinetry. Euro style faucets and lighting complete the look.

Large living room upstairs plus spacious family room in the lower level allow plenty of room for entertaining and relaxing. Four bedrooms offer plenty of sleeping space. Both bathrooms have all new tile, fixtures and upscale vanities.

Brand new energy efficient furnace and water heater have been installed in the past few weeks. You’ll enjoy lowered utility costs with the exterior vinyl siding and newer vinyl windows.

Outdoor living is a breeze on the covered deck. Enjoy the view from the gazebo while you have a drink and relax! This home is only a short walk to the middle school and shopping. Very short drive to Fort Carson and Peterson AFB. Why wait any longer? For your private showing, contact us today!

The benefit of today’s technology allows buyers to preview homes online. When I started in real estate in 1990, we used the old MLS books that were published every two weeks. If a buyer was relocating into Colorado Springs, I had to cut out the individual listings and place a bunch on the copy machine, make a copy and then mail the sheet to a buyer. The MLS book only showed a photo and a few details about each home for sale. We’ve come a long way since then!

Currently there are more MLS feeds than I can count. The feeds grab home listing info from the local MLS and publish it in the preferred format of the site. Each feed, including the MLS allows an agent to submit a group of interior photos of the home. This is great for buyers looking at basic layout of a home along with the interior condition.

Photo shock happens to buyers who pick out a list of favorite homes from their MLS feed but then view the home in person. I have had clients in the past who have loved a particular home for months prior to their arrival in town only to be greatly disappointed when they see the home. A photo cannot tell you that the house smells like cats! A photo cannot tell you that there is a roar of traffic all day every day. A photo cannot tell you that the carpet is really worn out.

There is a solution to all of this. First, if you plan to be moving to Colorado Springs in the near future, contact me. I will then listen to your list of requirements and set up a FREE personalized web page giving you direct access to all MLS listings that will interest you. You select your favorites and delete the homes you do not like. Before you arrive, I can actually go to the homes you like and preview them. Then I can video the ones that are good and help you delete the ones that have problems. Why would any buyer want to spend their precious time viewing homes that are awful? Let me do the leg work for you. Nothing is worse than staying in the TLF and going out to view an endless list of homes every day. Many real estate agents will make you do just that. When I have time to talk with you prior to your move, I can help you narrow down the list of homes. This will allow you to move in quicker and with less stress during the move!

I’ve spent time in the TLF’s and trust me, it is not a vacation. The units are small and as we all know, you can’t stay long. Every day counts! Contact me today to start your MLS search. I’ll help you have a smoother move than you could ever have imagined!