Ready to Plank?

yoga plank

Can you hold a steady plank?  Our local Lululemon Athletica store, located at the Shops at Briargate, needs 2,000 people to hold a plank simultaneously to break the Guinness World Record.  Are you interested?

 

Don't worry...you needn't be some fitness junkie to participate.    You just need to be able to hold the plank for as long as it takes to shoot the photo.  When?  Sunday, September 13th from 8:45-10:00am.  Arrival 7:30-8:30am.   There will be additional parking above the Briargate Shops both at Focus on the Family and at California Casualty.  

 

Thinking this would be kind of fun! 

 

Continue reading
3198 Hits

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.

Continue reading
2623 Hits

2015 Home Sales at a Glance

2015 is very much a Seller's Market.  We have less inventory, meaning homes on the market, and sales are on the rise.  Home prices continue to go up.  Here are the latest statistics as of July 31, 2015:

 

        single family home sales               =up 18.9% from last year

        condo/townhome sales                 =up 40.7% from last year

        average price of a S/F home         =up 8% from last year

        average price of condo/townhome =up.5% from last year

        # of homes for sale                      =3,409 total, as compared to 4,226 last year at this time

        # of condos/townhomes for sale    =300 total, as compared to 401 last year at this time

 

We Realtors are pretty happy about this busy market.  I think the only complaint I have is not enough time off!   What a shame, huh?

 

 

 

      

 

 

Continue reading
3213 Hits

1259 N. Meade Ave. Tastefully Remodeled with True Quality

I am really excited about this new listing. This home is located at 1259 North Meade Ave. The updates in this home are really impressive. The backyard is like a small park and the location is perfect. Here is a quick video tour:

 

For More Pictures and Detailed Information, please visit: http://northmeade.com/

Continue reading
2247 Hits

Don't let DOM (Days on Market) Spell DOOM for your bottom line

Many people selling their homes in Colorado Springs are surprised to learn that the number of days the  property has been on the market can affect its ultimate selling price. The ratio is generally an inverse one: the longer your home remains on the market, the lower the price. Conversely, homes on the market for short periods of time tend to command higher prices. So, the moral is, work with a Colorado Springs real estate agent who will help you price your home correctly for the current market AND maximize your net profit.

We have found that the highest net profit for the seller is achieved during the first 30 days on the market in Colorado Springs.  (As a point of reference, DOM, or Days on Market) is the time your property is actively listed on the market up until an offer is accepted. The median DOM indicates the actual central number of days that all homes for sale in the Springs are on the market before accepting an offer. The average DOM may be inaccurate due to a plethora of overpriced homes and builders who sometimes list properties on the MLS before construction is complete. 

Homes that have been on the market for long periods of time raise questions in the minds of potential buyers including:

    • Why hasn’t it sold?
    • Is there something wrong with the house?
    • How low do you think the sellers will go?

None of these are conducive to selling your Colorado Springs home expediently and for the best possible net profit. 

When your home is priced correctly early in the game, potential buyers, who have looked at many homes online and in person, will recognize it as an excellent value and will be more likely to submit an offer close to your asking price.  If you price the home well above its market value, there are a number of possible consequences including

    • Receiving a number of “lowball” offers, with buyers knowing that the property is overpriced
    • Not receiving any offers at all
    • Having the property listed for more than 30 days
    • Needing to eventually drop the price in order to sell the home, often to the market price that would have resulted in a much earlier sale

If, after a substantial time on the market with no results, you decide to take your home off the market to reset the DOM, you must keep it unlisted for 30 days before re-listing it. However, savvy real estate agents may check a property’s history in the MLS and will see that it was previously listed before you put it back on the market.  For these agents’ clients, the property will still seem like “damaged goods.”

Your best bet is to work with a trustworthy Colorado Springs real estate agent who constantly tracks the median sale prices in your neighborhood and will help guide you to a stress-free and profitable sale.

 

Continue reading
2212 Hits