1. Isn’t it just easier to rent than to buy?

I get this question a lot. Colorado Springs is very different from other duty stations you may have lived at. The area is large but really still small. That won’t make sense to you now but when you arrive you’ll get what I mean. We have really one county in our area (excluding the mountain communities). Finding a home takes (with a good Realtor of course) no more than a few days tops! The city is pretty spread out but once you decide on a price range and area amenities, we can narrow things down pretty fast. As a rule, I do not show rental properties. Finding a rental takes as long or longer since you have to set up the showings and then meet the owner or agent at each property.  If you are not familiar with the individual areas it could take a while and then you might find yourself in a one year lease in an area that you really do not like.

2. Is it difficult to get financing?

Not as difficult as you might think. The key is to get pre-approved prior to packing up at your current duty station. Bank statements, tax returns etc. are much easier to obtain prior to moving since you have quick and easy access to all of your personal data and records. When you arrive as a pre-approved buyer you will only need to find a property and get the appraisal done in order to close. Very simple!  Loan guidelines are very clear these days. The lender can tell you up front whether or not your credit and income levels meet those guidelines. It takes just a simple conversation with the lender to find this out.

3. Where will we live while we wait to close?

Again, if you have already been pre-approved the closing can happen quickly. In Colorado we do not do “Escrow” closings. We close and fund the transaction on the day of closing and you get the keys to your new home. We can close in a matter of a few weeks. It also may be a possibility that you can move into the property prior to closing and rent from the owner until the transaction is finalized. This won’t be possible if you are buying a bank-owned property but in that case it may be worth waiting for if the price is right! There are many possible places to live in a temporary situation in Colorado Springs. Our community is used to military personnel coming and going so we have extended stay hotels, temporary furnished apartments and of course you can also check out the base TLF or on post Guest House.

4. Do I have to have 20% down payment to buy a home now?

No! Conventional loans require a larger down payment but if you are military you most likely have the option of using your VA loan benefit. This options require ZERO down payment! Also, it is just a myth that you can only use your VA one time. It can be used multiple times with conditions. FHA is also a good option that only requires a down payment of 3.5%. Contact me so I can explain these loan programs in detail.

5. Do I have to make a separate house hunting trip in order to buy?

If time or finances did not permit an advance home buying trip do not despair. The process is just not that difficult. Lots of times we work with people who really thiought they would be renting a home. Once they viewed the selection of rentals in their monthly price range they change their minds and look into buying a home. We can adapt to this situation quickly. The key is to work quickly as far as submitting the loan paperwork. In a pinch you can obtain your LES and W-2 statements along with bank records by going online and printing them. Again, we are used to helping military people settle into their new homes quickly and with a low level of stress!

As you can see, buying a home might just be easier than you thought! Even if you are PCS’ing from overseas, we can help you find a great home! Contact us to get started.

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?

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!

Want to be close to Fort Carson?

This is it! All new upscale remodel just minutes from Fort Carson! Gorgeous kitchen with all new cabinets, stainless appliances and slab granite counters. New paint inside and out. All new bathrooms as well. Nothing has been left undone in this home! Tri-level floor plan offers formal and casual living spaces. Four bedrooms, two baths. 1408 square feet. Attached garage with opener. Perfect for anyone who needs to move in fast and start living! Easy to buy with your VA loan. We have several lenders who can assist you with any financing option. Contact me now for your private showing.

Priced at $110,000 this rancher is a bargain. Just under 1100 square feet with three bedrooms and one full bath, this home needs very little to make it shine. This is a perfect opportunity for someone who just wants to do a little bit of fix-up to have a very nice home. Large deck offers mountain views. Corner lot gives a sense of privacy. This home is a very easy commute to Fort Carson.  Investors will also appreciate to potential for profit in this home. Contact me today for your private showing.

What does this mean? Can I now unlock my doors at night? Probably not but it does confirm what I have always believed about our city. This is a great place to live all around! I feel safe going downtown to a restaurant with friends. Of course I don’t stay out that late and don’t frequent the downtown nightclubs that seem to have weekly incidents involving police. The places that I go, day or night seem to be safe and well lit.

The key here is to look at all of the factors that made up this safety study. Our air quality is excellent. We get the best water in the whole world cold and tasty right out of the tap. As for life expectancy, my grandfather was a Colorado Springs native (b.1900) and he lived to be nearly 99! Our clean living and penchant for fitness makes it easy to live a long time here.

The large military presence in this city gives financial stability to the region. Job losses are less than other cities due to our guaranteed military payroll every two weeks. We never boomed as much as other cities during the past ten years so our job losses have been much less than other areas similar to Colorado Springs.

Housing areas can be safe in most area of the city. Even in lower price ranges, a good safe home can be found. It all depends on who is assisting you in your search. I am a lifetime native of Colorado Springs. I know the areas that are most popular with buyers based on typical needs such as safety, convenience, schools etc. If you are considering a move to the area, feel free to contact me. I would love to assist you!

Fort Carson has a wide variety of on post options for housing. The problem is the waiting list can be very long. There are 15 different housing communites on the Mountain Post. Some of  the homes are older but several communities have been built in the past few years. They look just like homes available for sale in Colorado Springs. The newer homes were all ready at the same time so if you think about it they would have had all new occupants at the same time. This means that there won’t be any availability for a while.

All of the housing at Fort Carson is managed by a private company, Balfour Beatty Communities. The curious thing is that this is not an American company. They are headquatered in the UK. I have to wonder why we could not find an American housing management company for our American troops! Typical for big government I guess.

All of the typical amenities are available for Fort Carson housing. They provide trash pick-up, recycling and utilities. The rent amount is equal to the service member’s monthly BAH. Really, now that housing is privatized you are just renting a home on post. For some, this represents a great convenience. For others, it means living under the watchful eye of the Army at all times. It just depends on what you like.

Currently, this is a great time to buy a home in Colorado Springs! Think about it–the home buyer credit has just been extended until Spring. Prices are low right now as are interest rates. A VA mortgage is fast and easy to obtain. Why not investigate buying a home? Colorado Springs is a wonderful place for military members to buy a home even if you plan to be here only 2 or 3 years. Many people choose to rent their homes when they PCS on to the next destination. This means your investment can continue to grow while you move on to a new post.

Cash Back for Military Members

We offer a great incentive for military home buyers. When you choose to work with eSaleHomes Realty to buy a home, we give you a cash incentive after closing. This can range from $500 to $3000 depending on the sales price of the home. Sure, other companies offer incentives as well. When you work with me, you get top-knotch service and the benefit of 20 years of local full time real estate experience. Other companies will just “assign” you to an agent. Don’t you want someone that you choose?

For information on how you can buy a home near Fort Carson, feel free to contact me. I am very familiar with the stresses of a PCS move. There are so many ways that I can assist you with the transition from your current destination to your new one at Fort Carson.