1635 Capadaro Court. Monument Colorado. 80132

We have just listed this beautiful ranch style home in the popular Doewood Estates Subdivision of Monument, Colorado. This home has it all, sitting on a secluded cul-de-sac with a large lot full of natural trees and vegetation.The main level features hardwood floors throughout and is full of beautiful natural light with an open feel while still separating the living spaces. See for yourself in this video walkthrough.

 

 

For More information, please visit: http://CapadaroCt.com

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Credit Dings Might NOT Stop Your Home Buying Plans

Colorado Springs Home BuyerApplying for a mortgage can be one of the more frustrating aspects of buying your Colorado Springs home. And if you’ve suffered a bump in the road credit wise, you may be hesitant even to try to obtain a home loan. But, fear not! Armed with some knowledge and a bit of patience, you can join the ranks of homeowners in the Colorado Springs area.

Credit Disputes You checked your report at www.annualcreditreport.com and, to your dismay, there is some erroneous information or a negative report based on late or missing payments. Even though you may want to call the company immediately, if you are applying for a mortgage, do not dispute any derogatory information on your credit report. If your report shows that you are in the middle of a dispute, your loan application will be rejected or it will be referred to a person (instead of a computer) for a “manual underwrite,” which can take a very long time to resolve. Wait until your mortgage is approved and then dispute the report.

Bankruptcy. Yes, you can be approved for a mortgage even if you’ve declared bankruptcy. If you have declared a Chapter 7 bankruptcy (one in which all debts are forgiven), you must wait 2 years after the bankruptcy is discharged to qualify for an FHA or VA loan. For a Chapter 13 (when you agree on a repayment plan), if you have been making on-time payments for one year after declaration, you may qualify for an FHA or VA loan. In either case, you must not have a single late or missed payment during the post-bankruptcy waiting periods—if you do, the qualifying period will be reset close to the date of your missed payment.

For conventional (non-government insured) loans, the waiting period is 4 years after the discharge of a Chapter 7 bankruptcy and 2 years after the 1-year payment period for a Chapter 13 bankruptcy. And, as with disputed credit reports, if you dispute a bankruptcy while applying for a home loan, the date of the bankruptcy will be reset close to the date you initiate the dispute.

Loan Modification If you are having difficulty making mortgage payments for your loan in its current form, you may request a loan modification. When you do so, and if it is approved, make sure that the lender reports this to the credit bureau as “Paid as agreed.” Have the lender put this in writing before you sign off on any loan modification papers. If the lender reports the modification as a “Repayment plan,” your credit report will be dinged.

Short Sale and Foreclosure If you go through a short sale (selling your home for less than the outstanding debt), your credit score will not be affected if the lender notates it as “Paid as agreed.” If your lender agrees to forgive a portion of your loan, you will most likely sign an unsecured note promising to pay back the agreed-upon amount. As with Loan Modification, have your lender give you written proof that “Paid as agreed” will be reported to the credit bureau. If you don’t take this step, and the lender notates “Settled for less than the full balance,” you will be dinged a whopping 105 points!

If you are experiencing foreclosure, in which the lender takes possession of the property due to non-payment of the loan, you will also want to negotiate with the lender about how he will report it. If the notation “Foreclosure” appears on the report, you will be dinged 110 points.

In both cases, with a potential short sale or foreclosure, speak to your lender as soon as you realize there may be trouble looming. Don’t wait until the situation becomes dire, as many lenders are now much more willing to negotiate help for homeowners than in previous years.

Coming Soon: Meet Fannie, Freddie and Ginnie.

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How to Improve Your Credit Score and Get the Best Mortgage Rates

As part of your Colorado Springs home buying process, you will mostly likely be applying for a mortgage. And one of the most important components lenders will consider is your FICO credit score. There are many factors that contribute to that score—some of them seemingly counterintuitive. For example, when you open a new account, your score is negatively affected—the same thing also happens when you close an existing, but non-used account. Also, when you apply for credit and the company searches your report, you are negatively affected as well.

So, if you’re thinking of buying a home in the Colorado Springs area, do you need to worry that your credit score will suffer when a mortgage lender pulls up your credit report? The answer, fortunately, is no.

When the mortgage lender pulls your first credit report, there is a 45-day window in which other people can search your report without hurting your score. This is called a “soft pull.” If, however, you apply for 3 credit cards in one month, you will experience 3 “hard pulls” which will cause major “dings” in your report.

However, you can take steps to improve your score. Here are some tips to help you make sure that your credit report is in the best possible condition before you start your home search:

  • Don’t co-sign loans. If your co-signer defaults, you will be responsible for the payments. If you can’t pay, your credit report will show you to be in default.
  • Keep old revolving accounts open, even if you have paid them off or no longer use them.
  • Avoid “same as cash” credit offers (often available at appliance and big box stores). These offers usually give you a credit limit for the amount of purchase, so you will immediately max it out. You will be “dinged” when the store does the credit search and then again when you close the account after payoff.
  • Keep your credit card balances at a maximum of 30% of the total allotted credit.
  • Don’t open new accounts or make large purchases in the six months before you plan to apply for a mortgage, unless absolutely necessary.
  • Monitor your credit report frequently at www.annualcreditreport.com to check for errors.
  • Pay your bills on time. Even one late charge or missed payment can negatively affect your score.
  • If you have not previously established any credit, sign up for a secured credit card. You will prepay a set amount and then receive a card with a spending limit of that same amount—you can then use the card as you would a regular credit card.

Coming Soon: How to deal with credit disputes, bankruptcy, short sale vs. foreclosure and loan modification.

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Watching for Wildlife

In the past week I have almost hit two of these beautiful creatures with my car... mule deer. One rainy evening it was a very adorable, but confused fawn; once I slowed to a stop it just stood in my headlights... true "deer in the headlights" look. 

Living in this area, and much of Colorado (well, and other areas) we run the risk of wildlife in our communities. Because we are so close to the mountains and have treed communities like Black Forest, Erindale, Broadmoor and others, we are at risk for much of the year... or the wildlife is at risk if we're not aware / catious! 

In Black Forest we have mule deer, coyote, fox, squirrels (at least two different breeds, including black "Abert" squirrels), rabbits, a couple bears... last year there was even a moose. It is VERY unusual for moose to live at this altitude, so it was strange to have one here and in the Douglas County area just north of here. 

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The west side of Colorado Springs sees even more wildlife. I'm not sure I've ever shown houses in Peregrine, Broadmoor Bluffs or Skyway without seeing deer. There are most of the animals listed above on the west side, plus more bears, and add mountain lions and big horn sheep to the mix. For the mountain lions especially, pet owners are cautioned to keep pets, like small dogs and cats inside at night! Broadmoor Bluffs, Mountain Shadows and other west side neighborhoods post caution signs when widelife has been spotted in the area. The bears are especially dangerous just before and after hybernation when they are particularly hungry. They even make their way into dumpsters and even stores (as we've seen on rare occassion on the news). The bears and mountain lions will climb trees. The only black bear I've seen in town was off W. Woodmen Rd, pretty high in a tree on a 3 acre property. He didn't want to deal with us, but if there were baby cubs invloved it might have been a different story! 

In all areas, keep watch for deer crossing the road, particularly at this time of year when they have fawns and in the fall at dusk when they are very active. A friend once told us, when the Air Force relocted him here they told him during a local orientation, if you see a deer dart across the road don't watch him trail off... watch for his buddy and his buddy's buddy behind him. They normally travel together. In our neighborhood they travel in small groups of 6-10, however right now they seem to be just a doe and her baby(ies) or a bunch of individuals. If I can figure out how to imbed video in my blog, we had the awesome experience of 7 mule deer bucks "rutting" last fall as they establish the hierarchy of the herd. DO NOT approach these animals!! While they can seem harmless and will most frequently run from you, our neighbor's dog was gored by a large buck's antler, when he obviosuly felt threatened.... they will challenge each other. 

Living in the heart of town, don't think your immune to this wildlife. In 1999 my mom's car got hit by a deer near Circle and Fountain / MLK bypass... he jumped the car next to her and hit the front left side panel of her car. There are creeks and natural habitats that course through our city, creating avenues for deer and other critters to come into the city. 

Now, out east, you have to be aware of the coyote and fox, especially if you want to protect your cats and chickens at night. Let the rabbits and ground rodents be their prey! There are also large herds of antelope that roam the prairie in eastern Colorado Springs and from here to Texas and Montana. These are general much more slow moving creatures, and since they are out in the open they are easier to spot as opposed to the deer that often dart from trees and bushes into roadways. Watch for antelope especially in the areas along Black Forest Rd, Woodmen Rd, Marksheffel... and any home shopping out east to Falcon, Calhan, Ellicott, Ramah, even south of Fountain. 

As a friend used to tell us... Stay Alert, Stay Alive... important advice for you and the wildlife at risk (however I don't think they're reading this blog). 

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22045 Osteen Ct - Landings at Denmark | Calhan

Oh give me a home... where the buffalo roam... where the deer and the antelope play...

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Well, maybe not buffalo, but the antelope, chickens, kittens and horses love it here!! This ranch-style modular home is almost 2200 sq ft, taped / textured, and so well decorated you can move right in. Vaulted ceilings in nearly every room, Pikes Peak views from all rooms facing west and a nice little patio. Open great room includes a huge living room area, dining space, plus tremendous kitchen with pantry, island, desk space, eating nook and walk-out. Master includes 3 huge windwos, ceiling fan on remote, 5-piece bath, walk-in closet, plus storage closet.

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The kids and pets will enjoy plenty of space to roam, plus cross-fenced property for the horses.

Check out more details and the video tour here - http://www.osteencourt.com/  -  and contact me for a personal showing! 

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