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Short Sales At 3 Year High Surpassing Foreclosures

by Alan Daniels

Colorado Springs Short Sale ProcessShort sales are at a 3 year high and have actually surpassed the number of bank owned sales nationally according to recent reports.  This is a huge sign that short sales are working and the banks have to agree.  The short sale process is much more of a win for both the banks and homeowners.  This is why it is important for homeowners to educate themselves on short sales as an option to avoid foreclosure.  Make sure to contact an expert short sale agent in Colorado Springs to explain the process along with the benefits of avoiding foreclosure through alternative options.  It could save you years of grief!   

HGTV Filming Show In Mountain Shadows This Week

by Alan Daniels

Mountain Shadows Real Estate in Colorado SpringsHGTV is out in Northwest Colorado Springs in the Mountain Shadows neighborhood to film a new show on restoring damaged homes from disasters.  They came out Sunday to begin filming the restoration of a home in Mountain Shadows that was damaged by the Waldo Canyon Fire.  Work is scheduled to be complete by Thursday at which point the family will be welcomed back home to see the shocking finished product.  A familiar surprise you find on some of the HGTV shows.  The show is scheduled to air on television in 6-8 months according to The Gazette

Welcome back to our 3 part post of 15 Things Every Home Buyer Should Know Before Purchasing.  The first 5 things covered the benefits of home ownership so be sure to check that out.  Here are the next 5 things you should know when buying a home in Colorado Springs and surrounding areas.

  • 6.  Hiring a Buyer Agent - Hire a buyer agent early in the process to save you time, energy and Colorado Springs Homes For Salemoney.  A good Realtor in Colorado Springs will be able to show you any home on market including new construction options and most for sale by owner options.  How much does it cost you?  99% of the time there is no cost to the buyer for hiring a buyer agent.   A good Real Estate Agent will be able to make you aware of every option on the market based on your needs saving you time and allowing you to find the very best option for your needs.  They will be able to negotiate from experience on home purchases and let you know what is typical in resale and new build markets.  Make sure to contact the best of Colorado Springs Realtors to get started.
  • 7.  Get Pre-Approved - Get pre-approved if you are not planning on paying cash to purchase a home.  A pre-approval letter will be provided at the very beginning for your Realtor to use as a negotiating tool when you submit an offer.  This letter will allow you to be almost as competitive as a cash buyer which will get you the best purchase price.  You will also know exactly how much you can afford, what your payments will look like, and what loan program is best for your particular situation.  Most Realtors will have a good list of preferred lenders they can share that provide top notch service and first class rates.  Just tell your Realtor about your plans and they can do a Loan Analysis and give you the best options.
  • 8.  Direct Access to MLS - Make sure you have direct access to the MLS (Multiple Listing Services).  There are even real estate agents that do not have access to the MLS.  They have to be a Realtor to access this system.  Make sure your Realtor has you setup to receive new listing updates 4 times per day, as these types of buyers are finding all of the best properties and deals available before most others know anything about them.  You will also want to have a supplemental search available that lets you manually search like a Realtor.  My two favorite home searches that meet this criteria are:
  • 9.  New Homes and Construction - Consult with your Realtor before sharing too much information with a builder.  The sales reps are the Agent to the builder and represent the builder's best interests.  Your Realtor will represent your best interests for Free and will provide expertise and consulting on every aspect.  The community, lot options, floor plans, recommended optional upgrades, forecasted resale value, negotiating terms, and incentives are just some of the things that a talented New Home Realtor in Colorado Springs will review.
  • 10.  For Sale By Owner Homes - Interested in for sale by owner (FSBO) properties?  Majority of these owners are willing to work with your Realtor because they are saving on the listing agent side by having the process completed professionally by the buyer agent, and most importantly your best interests are represented.  Experience is key here.  This is one of the most important transactions to be represented in because FSBO deals can get weird quick and you want to make sure your Realtor has backed up your side with the proper contract docs to protect you.  Tell your Realtor about any advertised FSBO properties you would like to see.  Your Realtor may even know of a couple that match your needs.  They will contact the owner and coordinate a showing from there.

Next blog post will cover the final 5 things a buyer should know before purchasing a home in Colorado Springs and surrounding areas, so check back soon.

We will cover the first 5 things every home buyer should know before purchasing a home in Colorado Springs and surrounding areas this week.  The first 5 things focus primarily on the many benefits of home ownership. 

  • Colorado Springs Homes For Sale1.  Tax Deduction / "Free Money" - Property taxes and qualified home mortgage interest are deductible on your federal income tax return.  A great built in savings for the year!
  • 2.  Investment - In most cases a home is the largest asset people have and many consider it one of the safest investments available.  Paying down your mortgage and appreciation of home value will create a major savings.  Just make sure not to use it as a piggy bank to buy depreciating toys (refinancing to buy a boat for example).  Make a goal to pay it off so you don't have a mortgage for when you retire.  If you like this idea, it may be worth getting involved in real estate investing on multiple properties.  Real estate investing in Colorado Springs is easier than you think.  It is no coincidence that many of the worlds wealthiest people in history have made their fortune in real estate. 
  • 3.  No Capital Gain Tax When Selling - A homeowner can currently exclude up to $500,000 of capital gain when selling their home if married filing jointly or up to $250,000 if single / married filing separately.  The home must have been the taxpayer's principal residence for 2 of the last 5 years (Always confirm with your CPA).
  • 4.  Principal Pay Down on Mortgage - A portion of each amortized mortgage payment goes towards paying down the principal on your loan.  Not only do you pay to stay but a portion goes to paying down your loan for a wonderful investment and built in savings.
  • 5.  Enjoyment of Ownership - A home is one of the few investments you can enjoy by living in it!  By far one of the best investments you can benefit from.  Make improvements and you can gain from both enjoyment and increased value.

Next blog post will include 5 more things every home buyer should know before purchasing a home so check back soon to catch all 15.

Why Your Home Did Not Sell and What to Do About It

by Alan Daniels

15%-25% of all listings do not sell and are rejected by the market.  There are 4 key factors to look at for selling your Home in Colorado Springs and surrounding areas that will sell your home every time. 

  • Colorado Springs Home Values - Home Sales In Colorado SpringsLocation -  This factor makes a huge difference on any buyer choosing a home.  You will not be able to change the location but top Colorado Springs Real Estate Agents will be able to accentuate the positives and minimize the negatives with effective marketing. 
  • Condition - Is the property in move in ready condition or does it need improvement?  Many buyers expect the home to be move in ready unless they get a deal.  There is still plenty of inventory on market to be compared to your home.  Make sure to prepare your home for market and stage it properly.  A good Real Estate Agent will be able to advise you on the best home preparation items to do for the least amount of money and time.
  • Price - This is the number one reason a home does not sell and is rejected by the market.  Remember that you can control price and condition.  The wrong price attracts the wrong buyers and creates a bad reputation for the home on market.  It will also make competing homes look better.  Make sure your Realtor provides an accurate Market Analysis.  It takes a veteran real estate agent to know how to analyze Colorado Springs Home Values and home values for surrounding areas.
  • Marketing - This is the part your Realtor controls.  Are they doing everything they can to sell your home?  For Sale Sign, 24 hour information hotline, max photos and descriptions in MLS, syndication to dozens of websites, virtual tours, target marketing, feedback reports, featured listings, matching up buyers and much more.  Make sure you have the right agent marketing your home so you can get top dollar for location, condition and asking price. 

Contact us if you would like an accurate market analysis, staging/home preparation plan, and marketing plan.

Colorado Springs Parade of Homes - 2012

by Alan Daniels

2012 Colorado Springs Parade of HomesFind out More on the 2013 Colorado Springs Parade of Homes with this link.

It’s that time of the year again! The 2012 Parade of Homes in Colorado Springs kicks off on August 3rd and ends on the 19th. It is perfect time to see the latest innovations in home building and pickup some great design ideas. There are 24 homes featured in the Parade this year with the majority of homes being located in 3 neighborhoods in Colorado Springs.

Banning Lewis Ranch will feature homes by Classic Homes, Oakwood Homes and Richmond American Homes.

Flying Horse will feature homes by Bella Vita Custom Homes, Classic Homes and Saddletree Homes.

Meridian Ranch will feature homes by Classic Homes, Century Communities, Majestic Custom Homes, Richmond American Homes and Saint Aubyn Homes.

About 2012 Colorado Springs Parade of Homes:

  • Dates: August 3 - 19 Times: 10AM - 6PM
  • Tickets are $10 for Adults (under 18 Free) and $5 for Seniors.  Tickets will be available at all area Safeway stores beginning July 23 and at LaZBoy Furniture Galleries or any of the Parade homes. Complimentary active duty military tickets will be available at Mike Shaw Buick-GMC.
  • Communities - Flying Horse, Meridian Ranch, Banning Lewis Ranch, Parkwood in Wolf Ranch, Cordera, Reverie at Pine Creek, Gold Hill Mesa, Dublin North, Village Center at Woodmoor, New Breed Ranch, Cathedral Pines, Cumberland Green, Wilshire Ranch, Mesa Ridge in Fountain, and Lorson Ranch.
  • Parade of Home Builders - Bella Vita Custom Homes, Goetzmann Custom Homes, Saddletree Homes, Century Communities, Classic Homes, Majestic Custom Homes, Richmond American Homes, Saint Aubyn Homes, Oakwood Homes, Challenger Homes, Copperleaf Homes, Hi-Point Home Builders, Murphy's Custom Homes, Pikes Peak Habitat for Humanity, Reunion Homes, Ron Covington Homes, Vanguard Homes, and Windsor Ridge Homes.

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