Monument Gaining 2 New Lake Communities

If you have always dreamed of a home by the lake, now might be the time to check out these 2 new Lake Communities in Monument.

 Monument Lake, Colorado Springs Real Estate

Lake of the Rockies

Adjacent to Monument Lake, and within walking distance from Downtown Monument shops and dining is Lake of the Rockies. Formerly a RV and camping resort, Lake of the Rockies has incredible views of the mountains and easy access to Pike National Forest. The developer is making significant improvements to Monument Lake access and lake amenities. Two different home types are offered with 10 different floorplans. Single family homes start at $299,950 / 2 - 6 bedrooms / 2 - 5.5 baths / 2 - 4 car garage

See more at: http://www.centurycommunities.com/colorado/monument/lake-of-the-rockies/about

 

Forest Lakes

On the west side of I-25 at Baptist Road is Forest Lakes, a 900 acre parcel of undeveloped land that sits at an elevation range of 6,800 to 7,200 feet. Plans include a system of interconnecting public and private trails and two neighborhood parks, all set within approximately 450 acres of open space. Classic Homes will be releasing their luxury homes sites first followed by additional releases in 2016.

Oct 2015 - 33 luxury home sites ranging from one to five acres

Q1 2016 - 71 homes to be built on 80 foot wide home sites

Q2 2016 - 163 homes to be built on 50 foot wide home sites

Visit www.ForestLakesColorado.com for additional information.

 

 

 

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New Appraisal Guidelines

home appraisal

Did you hear? As of September 14th, there are new requirements for an FHA home appraisal

When a buyer gets a new mortgage, part of the loan process is getting an appraisal.  An appraisal is a formal opinion of value and condition.  This protects both the lender and consumer, in making sure the property is worth the contract price.  

In the past, FHA appraisers did focus on safety items.  But now, they are required to look at much more than ever before.  Below is a list of items your FHA appraisers will be looking at:

 

1. Appliances - they will check to make sure all are in working condition

2. Roof - they will have to actually go on the roof to ensure proper condition

3. Crawl Space - if the home has one, they will have to go inside and inspect it

4. Cabinet Doors and Drawers - they will have to open and close all to make sure they are working

 

If these items are unsatisfactory, the appraiser will condition them to be corrected.  Otherwise, the loan will not be approved. Should be interesting! Check out some additional information we have about appraisals.

 

 

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Open House-Saturday 1:00-3:00 at 9180 Melbourne

I will be holding an open house this Saturday, September 5 at 9180, Melbourne Dr. 

 Briargate Open House

This home is an amazing 6 bedroom, 4 bath, 3 car garage home in the heart of Briargate Colorado Springs Neighborhood, near parks shopping and schools. Main level has a great room layout as well as both formal living and dining areas. The kitchen has an island with counter bar and opens up to the family room, the nook and the backyard. There are plenty of cabinets and counter space as well as a pantry. Dishwasher and Microwave were replaced July 2015. All appliances are stainless steel. There is also a main level study. Upstairs has 4 bedrooms and 2 baths.Master is oversized with window seat and attaches to a 5 piece bath with walk in closet. Bedrooms have updated colors and are a good size, many with walk in closets.The basement has a large family room and 2 additional bedrooms with additional storage area. Back yard is fenced and landscaped with sprinkler system. There is a large wood deck for entertaining as well as play-set for the kids. There is air conditioning and the roof was replaced in 2012.

 

Please stop by and say hi, I'd love to show you this beautiful home.

If you want more information  give me a call.

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New, Easier-to-Understand Paperwork for Homebuyers

RESPATILA

For Colorado Springs homebuyers who have been frustrated by all the numbers and descriptions on the Hud-1 and Truth-in-Lending Disclosure Statements, there is good news.

 

Starting October 3, 2015, lenders must issue new documents clearly delineating the costs associated with a home purchase: the Loan Estimate and the Closing Disclosure. Known as TILA/RESPA (for Truth-in-Lending/Real Estate Settlement Procedures Act), the new forms replace the old Truth-in-Lending Disclosure Statement and Good Faith Estimate, and the HUD-1 Settlement Statement. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2011, the Consumer Finance Protection Bureau was established and mandated to replace the old forms with new, easier-to-understand forms. The completed documents must be delivered to the prospective buyer 3 full days before closing the transaction and will be used for the following:

  • Purchase money loans
  • Refinances
  • Loans secured by 25 acres or less
  • Loans secured by vacant land
  • Construction-only loans

Timeshare loans

 

The new forms must be offered in both English and Spanish. The three day lead time gives homebuyers the opportunity to thoroughly review the costs and avoid any last minute “surprises” at the closing table.

Loans that are not covered by the new ruling are:

  • Reverse Mortgages
  • Home Equity Lines of Credit (HELOCs)
  • Mobile Home-Only loans
  • Creditors who originate less than 5 loans in a calendar year

This is a sea-change for both homebuyers and Realtors. To help them understand the new documents and the updated time frames for their distribution, Realtors have the opportunity to take classes for credit on the subject.

For more information about the new loan documentation procedures visit http://www.consumerfinance.gov/learn more/#respa.

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6935 Stockwell Drive

I'm always excited to list a house in the Powers area.  With close proximity to military bases as well as shopping and amenities, this location is always a good one.  

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This charming 2-story home sits on an oversized cul-de-sac lot and offers gorgeous mountain views, RV parking, formal living and dining areas, vaulted ceilings, family room with gas fireplace, air conditioning, new carpet, new roof, new water heater, new windows and a huge unfinished basement ready to expand into.   The neighborhood is quiet and within walking distance of parks, schools and shopping!

 

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