A licensed Colorado Real Estate Broker since 1996, Nicole works with both buyers and sellers. In 2009, she was ranked #21 out of 214 ERA agents state wide, for volume sold. She proudly supports our local military and is happy to offer our military appreciation program to active duty clients. http://www.springshomes.com/military-assistance-program. In addition to real estate, Nicole’s passions include running, ballroom dancing, cooking and playing piano. With a strong background in new home construction and accounting, she has a sharp eye for detail.

7386 Owings Point Colorado Springs CO 80831

Check out my new listing!  This spacious rancher was built in 2006 and features 4 bedrooms, 3 baths and over 2,100 finished square feet.  Interior offers vaulted ceilings, upgraded carpet and pad, upgraded door hardware, large living room, formal dining area, gourmet kitchen with breakfast counter bar and pantry, finished basement, good sized bedrooms, walk-in closets, central air conditioning and all appliances are included.   No yardwork with this one.  The homeowner's association takes care of your lawn, snow removal and even trash.  Convenient location...walk to nearby shopping and restaurants! See more at: https://www.springshomes.com/mls/9660282-7386-Owings-PT-Peyton-CO-80831

owingspt exterior

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Mortgage Interest Rates in 2016

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Everyone is speculating about interest rates. Will they go up in 2016 or will they remain low? A low interest rate allows the home buyer to qualify for a higher priced home. When interest rates go up, buyers do not have as much buying power. Here is an excerpt from an article I recently read on realtor.com:

"Mortgage rates will likely be volatile in 2016. But the recent move by the Federal Reserve to guide interest rates higher should push mortgage rates higher in the new year than the historical lows they have been at for years. The 30-year fixed-rate mortgage will likely end 2016 about 60 basis points higher than today’s level. That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase, experts say. However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher. The markets with the highest home prices will see the effects from the higher rates the most."

I think rates will go up a little this year just because the housing market nationwide is so strong. And usually the Fed raises rates in an up market. Here are today's rates as quoted by one of my favorite local lenders:

 

        Conventional 30 year fixed rate mortgage = 4.125%

        FHA 30 year fixed rate mortgage = 3.75%

        VA 30 year fixed rate mortgage = 4.0%

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Understanding Your Property Taxes

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Will property taxes go up in 2016?   Better yet, just how are property taxes calculated? Here, in Colorado Springs, the El Paso County Assessor re-evaluates the value of homes every two years.   He starts with the current market value of the home. Market Value is based on the most recent comparable sales in the area.

Once market value is determined, he multiplies the current market value by 7.96%, which is the current assessment rate for all residential properties.   MARKET VALUE times 7.96% = ASSESSED VALUE.

 

Once the assessed value is determined, he multiplies that by the current mill levy for the area. And that result is your annual property tax.

The mill levy for your area is dependent on many factors including but not limited to the school district, fire district, water district, library district, your county, and city. These various taxing entities comprise the total mill levy for an area. Taxing entities in one area may be higher than another. For example, the taxes for School District 20 are higher than those of School District 11. Although, the school district is not the only taxing entity in an area, the example gives you some information regarding the various mill levies for El Paso County.

You can appeal the assessed value of your Colorado Springs home, thereby possibly lowering your property taxes. If you choose to do so, remember the El Paso County Assessor will only consider comparable sales for a specific period. That period must fall within the Assessor’s specific collection dates. For this task, I recommend calling your Realtor. As a part of our ongoing service and commitment to you, we can easily provide those comps to help you through the process.

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A Thoughtful Gift

Gift House IIIIt means so much when people say thank you!  Recently some clients of mine not only said it, but they made this adorable house for me.  It even has a sign in the front with my name on it.  The roof comes off, and there is storage inside, so now I keep all of my client thank-you notes in there.  I proudly display it here in my office, on the shelf above my desk.  Each day I look at it and feel happy knowing that people appreciate my work.

In this fast-paced world it's easy to forget to say thanks, to forget to compliment someone on a job well-done.  But those little things can really make someone's day.  Sometimes when I am feeling low, I pull this house out and re-read the client thank-you notes.  I am reminded of their kindness and gratitude.  I am reminded of their families, their houses, the experience of helping them.  Thanks to all of you!

 

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Ringing in the New Year

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As we wrap up 2015, I want to thank you all for your business, referrals and friendship.

I am so grateful to do this work and for all of you, for making this a wonderful year!

Here is what our Colorado Springs real estate market saw in 2015 (as of November 30th) :

Single Family Home Sales Up 17.6% from last year
Condo/Townhome Sales Up 29.9% from last year
Average Price of a Single Family Home Up 7.1% from last year
Average Price of a Condo/Townhome Down .2% from last year
Number of Single Family Homes for Sale 2,627 total (down 10%)
Number of Condos/Townhomes for Sale 219 total (down 13.4%)

I wish you all a safe and happy 2016. Feel free to give me a call for any of your real estate needs. Happy New Year!!!

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