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Latest greatest stats for Colo. Spgs. real estate!

What's going on in the Colorado Springs real estate market? Click below to find out!

The truth about bad real estate photos

Real estate photo NO-NOs:

• ·         Burned out lightbulbs.
• ·         Raised toilet seats.
• ·         The photographer/agent reflected in the mirror.
• ·         Magnets on the refrigerator. Especially magnets holding stuff.
• ·         Non-neutral, bright colors like pink, orange, purple, and yes, even red (I know it was in at one point), ESPECIALLY in high gloss or slopped on the ceiling.
• ·         Faux finish paint, and murals too.
• ·         Taxidermy trophies. They are offensive to some, so better safe than sorry.
• ·         Taste specific decorating (southwestern howling coyote statues, carved wooden bears, too many artificial plants, etc.). 
• ·         Photos taken with a cell phone.
• ·         Words or phrases scribed on the wall.
• ·         Grease stains on your driveway.
• ·         Dents in your front door and/or garage door.
• ·         Open closet doors.

YTD real estate stats as in the 2nd best city to live in; Colorado Springs!

Yes, according to World News & Report, we are the 2nd best city to live in & here's what's up in the our real estate market, as reported by the Colorado Springs real estate natives:

Colorado Springs residential real estate market as of March 2018

View ERA Shields Real Estate's Market Videos

What's the latest in the Colorado Springs residential real estate market??

The latest and greatest, YTD Colorado Springs Real Estate statistics! Check it out here:

2017 Colorado Springs Real Estate Market Statistics

Click here to read all the market statistics:

What's happening in the Colorado Springs Real Estate Market?

Colorado Springs Real Estate Statistics as of December 2017

Get the inside scoop on the latest real estate happenings in Colorado Springs real estate market, read here! 

• Chris and Jim Hendren
• 719-659-7467

• SUNDAY, DECEMBER 17 FROM 3:00 PM

Process for buying a house in Colorado

Things you need to know before you move...

Things Your Mover Doesn’t Know and Won’t Tell You…

Valuable Lessons I learned From My Recent Move

You’ll need more boxes:

At least 2x the number of boxes you think you do.  A comforter can take up an entire box all on its own! After unpacking them, they almost seem to multiply, even when they’re flattened! Try to have a plan beforehand of what to do with them when you’re done. Believe it or not, they can be heavy, bulky, wide and just a general pain.

 Your old place is dirty:

Even if you think it isn’t. The place you’re moving out of will take 3x as long to clean as you think it will.  So keep those cleaning supplies handy. Or better yet, hire someone if you can swing it. By the way, your new place is dirty too, even if the previous tenant doesn’t think so.

You have a lot of crap:

Get rid of it. One of the best things I learned was to post things in the “free” section on Craigslist.  You wouldn’t believe the crap people are willing to come pick up.  I had a crappy trampoline & a broken treadmill. Gone. Otherwise you’ll be PAYING to have stuff hauled off. I ended up moving a pressed wood microwave cart (cheap, ugly, heavy, and useless) and now it’s taking up a garage space.  Your camera phone will come in handy here too. Take quick photos of your crap and then upload directly onto the Craigslist app and voila; gone! 

Your garage is not designed for self storage:

Don’t move stuff into your garage if you can help it. Otherwise, you’ll be too tired to deal with it and you’ll be tempted to put it off. Then, there it will stay for a LONG time. Your car is likely more expensive than the crap you leave in your garage that’s taking up valuable parking space. You garage is designed to house your car for convenience, safety and protection…not as a second rate storage unit.

If you like TV, internet and phone, be prepared to suffer for it:

Set aside several hours (cumulatively speaking) to deal with your TV/internet/phone service provider; especially if you’re planning to change providers.  In the Colorado Springs market there are essentially 2 major players for these bundled services, Centurylink and Comcast/Xfinity.  I went from the previous to the latter and it was one of the most time consuming and frustrating aspects of the move.  Between the horrendous automated system, the eternal hold times, the inefficient/inconsistent/passive aggressive/often inaccurate customer representatives, it’s super challenging.  When signing up for service, they LOVE you, but even it’s confusing and time consuming (they do a credit check now) and installation (4 hour windows…and of course, my installer showed up at the end of that).  The billing?? Forget about it.  Then you’ll have to deal sending back specific pieces of their old equipment. Ugh.

Your snail mail will be sluggish:

You can do most of your mail forwarding online at www.usps.com.  Be SURE to write down your confirmation number, because when trouble hits (and it will) it’s helpful to have that.  Even so, you’re likely to have problems. It is the post office after all.

You need more time than you think:

Whether or not you hire movers, count on at least 2 hours more than they say it will take.  Luckily, most moving companies charge by the weight, not the hour.  Your own physical recovery time should be considered as well. If you move on a Friday, you may not be ready for work by Monday.

You’ll be distracted at every turn:

Loading and unloading. Try to focus on one thing at a time, or you’ll walk in circles.  I suggest you hook up your washer and dryer first.  But first, take a picture (with your phone ideally) of your dryer plug or the 220 outlet to make sure they match up with your existing dryer. If not, you’ll have to make other arrangements (hire a professional or go to the laundromat, etc.).

Pretend you’re taking a vacation:

When you pack for vacation you usually have the essentials: clothes, toiletries, hair dryer, medication, device charger(s), your photo ID and extra cash. That way, if you can’t move in right away (in my case because the movers couldn’t find the pieces to put my bed together…which again, take a picture with your phone of your bed without the mattress & box spring), or you’re too tired to even make your bed, you’re ready for a hotel.

The essentials you need that you wouldn’t take on vacation:

Have handy:  toilet paper, paper towels, towels, alarm clock, water, ibuprofen, something to sit on, light bulbs, trash bags, cleaning supplies, laundry detergent/softener, TOOL SET, temporary paper window shades, all of your cars, something to eat, pet accoutrements (bowls, food, bed, etc.)…the pet.

You guessed it…Take more pictures:

Take pictures of your furniture, set up in the old house, before it’s loaded on the moving truck.  This could serve several purposes:   You can later text the photos to your movers, so they know which furniture goes together, in which rooms.  You may also need them for proof if something gets damaged during the move.

You’ll practically live at the local home improvement store:

For that reason, make sure you take pictures or video with your phone of the existing issue that brought you to the store in the first place.  A picture is worth a thousand words…especially to the salesperson at the store.  For instance, take a picture of the faucet you need to replace, or the electrical outlet, or the toilet, or the screws, or the garage door opener, or the paint can label…you get the picture (no pun intended).

The biggest take away for me, you ask?  Prepare as best you can and take LOTS of pictures.

Tracking your child's progress at Colorado Springs school district 12 on your smart phone

How to track your kid(s) at school using a smart phone app

If you, like me, like to keep tabs on your kids at school, there’s an app for that.  It’s called “Infinite Campus”.  It’s free and there are nearly infinite possibilities!  Maybe not infinite, but it allows you to have your child’s schedule, attendance, assignments, grades & schedule at your fingertips in close to real time.  No more, “Junior, how’d you do on that science test?” with him responding, “good” and turns out he got a D!  By following up on your Infinite Campus app, you’ll discover the truth. Or say you have a child who’s late, or absent, or missing assignment, etc.; now you can find out immediately and nip it in the bud before it gets out of hand.  

Plus, it’s easy to download on your smart phone.  Got to your App store or Play store, search “Infinite Campus”, click download (see illustration).  Then it will ask for your district ID, which for Colorado Springs, Cheyenne Mountain School district 12, it is HMPKLT.  Your user name and password are the same ones you use when logging in to the 'PARENT PORTAL' link.  If you haven’t created a user name and password yet, you can do it here.  Once you download and log in the first time, you’ll never have to do it again.

From one D.12 parent to another, trust me, you’ll love it!

Tammy Cockrell & Gayle Caldwell

ERA Shields Real Estate

719-576-3600

tammygayle@erashields.com

www.MotherDaughterRealEstate.com

What's happening in the Colorado Springs real estate market, spring 2013

The state of the real estate market in Spring 2013 in Colorado Springs:

The real estate market has certainly heated up!  Spring is historically a busy time of year in the real estate business, and 2013 is proving to be no exception.  The uniqueness of this spring, however, has more to do with the laws of supply and demand.  With interest rates remaining low, many buyers are looking for good value in a home to purchase.  However, so are the many multitudes of buyers out there, creating many a bidding war. Additionally, prices are increasing. If you are a buyer, it is still a fantastic time to buy, but in most price ranges we've hit bottom and are climbing up the other side.
If you are a seller, because of the low inventory of homes to purchase, this is a great time to put your house on the market!  For additional statistical information check out our "Stat Pack", halfway down the page on on: http://www.motherdaughterrealestate.com/Pages/MarketConditions.aspx.  Or give us a call, email or text.  We'd be happy to discuss it with you!

Tammy Cockrell & Gayle Caldwell

Broker Associates

ERA Shields Real Estate

719.576.3600

tammygayle@erashields.com

www.MotherDaughterRealEstate.com 

Is now a good time to sell my home in Colorado Springs? 

Is now a good time to buy a home in Colorado Springs?

Here's what we think: 

2012
Facts:	Loss/Benefit for sellers:	Loss/Benefit for buyers:
Active listings are down almost 10,000 from 2012	Less competition on the active market	Less to choose from
Sales are up 708 units	Folks are buying more than last year, giving a better chance of sale	More full price & multiple offers
50%+ increase in building permits	New builder competition for the resale market	More new homes and revitalization of newer communities
Average sales price was up nearly 5%	Building equity in your home & supports a higher sales price	The market has hit bottom, and is on its way back up
The hot pricing point is $250,000 and under	If your home is worth 250k or less, you’re on the upside of the curve, and have a better chance of sale.	If this is your price range, you’ll have more full-price and multiple offer situations
Interest rates are super low	Buyers can borrow more money to support higher prices	Buy more house for the money
2013
Forecast:	Loss/Benefit for sellers:	Loss/Benefit for buyers:
Homes under contract to hit the highest mark in the past 5 years!	Better chance of sale	More competition for existing homes
Sales prices will increase around 5%	Builds equity & allows higher pricing	Less house for the same amount of $, than last year
Building permits will continue to rise	Tough builder competition for re-sales, more dust, but filling in vacant lots in existing subdivisions	More new builds to choose from but there may be a delay in construction completion
Homes coming to market will increase	More competition, so your house must be able to compete (look & smell good)	There will be more home in tip-top shape to choose from
High price ranges will see more activity	If your home is valued over $250k, this is welcoming news!	We appear to have hit the bottom of the market, and are now on our way back up-hurry!
Mortgage rates will probably begin to rise with uptick in market conditions	This will limit the number of qualified buyers	As the rate rises, buying power decreases

This info is based on the ERA Shields stat pack data through 12/31/12

Call or visit for more information:  719.576.3600 or www.MotherDaughterRealEstate.com

What is an appraisal and why do I have to get one to buy a house?

What is an appraisal, and why do I have to get one to buy a house?

In Colorado real estate, it’s usually like this…

What is an appraisal?  The buyer usually has to borrow money to buy a house, so the financial institution (lender) that is making the loan submits a request to a third party, called an appraisal management company. They then randomly selects a Colorado licensed appraiser to review similar houses that have sold in the past 6 months.  This person then puts together a report (appraisal) with their comparison findings, and submits it to the lender.

Why do I need an appraisal?  You need an appraisal because you are borrowing money, and your lender wants to be sure the house is worth the money they're lending you to buy it.  Then, if you stop making your house payments, the lender will be able to re-sell the house to get their money back.

Who orders the appraisal?  The financial institution lending the money to the buyer.

Who pays for it?  The buyer typically pays for the appraisal (which is around $350-$450 for single-family residential), because it’s for the buyers’ benefit.  If the seller contractually agrees to pay all the buyers’ closing costs (including appraisal), the buyer still has to pay for it up front, and then will be reimbursed at the closing.

How and when do I pay for it?  Your loan officer will usually accept credit card over the phone, or you can pay by check. It is ordered as soon as possible, but usually following inspection resolution so that the buyer doesn't spend money on an appraisal, only to have the contract fall apart due to inspection issues.

What if the house doesn’t appraise?  Then the seller does not have to sell, the buyer does not have to buy, and lender will not loan money above the appraised value.  For this reason, the buyer and/or seller, if they choose to continue forward, will have to come up with the difference in cash. 

 If it doesn’t appraise, do I get my money back?  No.

How is a VA appraisal different?  VA appraisals tend to be a bit more rigorous, with more emphasis on the property condition as it relates to safety.  They may make requirements of repairs to the property (by whom is negotiable), which will have to be completed prior to closing and are subject to a $75 re-inspection fee.  A VA appraisal also runs with the property for 6 months, even if the original buyer backs out.  This can be problematic to the seller if the appraisal is less than what they are asking for the home, and a new buyer wants to obtain a VA loan within that time frame.  

Is an appraisal the same thing as an inspection?  No.  You (or your agent) hire and/or control the inspection process.  During inspection you have the opportunity to thoroughly examine major components of the house (i.e. furnace, roof, etc.) for defects or safety issues.  An appraisal is ordered by the lender to ascertain value.

*This is why we highly recommend obtaining a real estate professional (or two, like usJ) to represent you.  They will be familiar with the market, and will do detailed studies to ensure the value of the home you’re buying or selling is where it should be.

For more information, please contact Tammy or Gayle of

719.576.3600 office/ gcaldwell@erashields.com or tammy@erashields.com

www.MotherDaughterRealEstate.com

The best way to quickly shop and compare mortgages

What is the best way to QUICKLY shop & compare mortgages?

APR = Annual Percentage Rate

There are many different types of mortgages (FHA, conventional, fixed rate, adjustable, 30 year term, 15 year term, etc.) and there are many types of mortgage providers (mortgage brokers, direct lenders, credit unions, etc.), and all of these need to be considered before making a final decision, but you need to know to quickly shop and compare the costs of a mortgage loan.  Most folks simply base their comparison on interest rates.  However, the interest rate is only part of the picture, because there are other costs associated with obtaining a mortgage loan (i.e. discount points, funding fees, loan origination fees, etc.) and those can vary widely from company to company.  Because of that, the best thing to ask is the APR, short for annual percentage rate.  This rate will include all the costs associated with borrowing money in addition to the interest rate charged.  Here's a link to additional information on the Truth in Lending Act, including APR :

http://www.in.gov/dfi/2582.htm

If you're getting ready to purchase a home, and you're not already working with a real estate broker, give Tammy & Gayle a call at 719-576-3600 or visit our website, www.MotherDaughterRealEstate.com !
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Rebuilding guidelines in Colorado Springs

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The Housing & Building Association of Colorado Springs (CSHBA) is working closely with the Regional Building Department, El Paso County and City of Colorado Springs to help rebuild our community. We’re honored to be part of the tremendous outpouring of support for the individuals and families who have lost their home or have been displaced as a result of the recent fires.

For information about rebuilding on your same property, click here for a resource page from Regional Building Department.

In response to the catastrophic fire in Colorado Springs, Pikes Peak Regional Building Department will use the following scenarios to assist those who lost or suffered damage to their home. Any one of the following 4 scenarios may be used when applicable. Upon completion of the scope of work defined for a permit associated with scenario 1; 2 or 3, a Certificate of Occupancy will be issued. No Certificate of Occupancy will be issued for a permit using scenario 4. Please contact Mindy Stuemke @ 327-2903 or Bob Croft@ 327-2914 to discuss if these scenarios will not work for your particular situation.

1. Use of existing foundation, same house:

If Regional Building has the original plans, the only document required will be a letter from a licensed engineer stating that existing foundation is acceptable for rebuild. RBD will issue, at a minimum fee, a demolition permit for removal of fire debris. This permit is required to monitor removal activity and be sure fall protection is installed around the open foundation as required by code(2011 PPRBC). The single family dwelling shell can be constructed according to the plans on file with the issuance of a new remodel permit (434). The permit cost will be based on the cost of square footage with attachments for Electrical/Mechanical and Plumbing trades at a minimum fee. The interior finish portion of the house may not be required to meet all current structural or design criteria of the 2009 IRC, but will be required to meet all life/ safety requirements and other design provisions that benefit the owner such as, but not limited to, State Electrical Code, smoke and CO detectors, energy conservation, etc.

2. Non-use of existing foundation, same house:

If Regional Building has the original plans, the documentation required will be a letter from a licensed engineer stating that foundation is not safe for rebuild and submittal of a new foundation plan for review/approval. RBD will issue a wrecking permit at a minimum fee for total removal of foundation and all fire debris. This permit is required to monitor removal activity and to be sure the foundation excavation is backfilled or protected according to code (2011 PPRBC). With this option, a new single family dwelling permit (101) will be issued based on the cost of square footage and no other trades will need to attach, this will be a universal permit. The construction of the foundation must comply with all applicable provisions of the 2009 IRC. Inspections may be made by the engineer of record. The remaining portion of the structure located above the foundation may be constructed as outlined in # 1 above.

3. Building new home (different from original) at existing location:

Process will be the same as any new single family dwelling plan/ permit submittal currently in place. http://www.pprbd.org/plancheck/PLCK_RESGuide_2012.pdf One set of plans, including engineered foundation, site plan, all construction docs and duct design components to comply with 2009 IRC.

4. Repair of existing structure due to fire damage:

Process will be the same as any remodel for an existing residential structure.

Should I buy a house now?

This is a great post:

Why Buy Now … Buying Power!

For home buyers with a long-term housing plan, today's mortgage rates are an incredible value as compared to even February of last year.  Last February, the 30-year fixed rate mortgage averaged 5.05 percent nationwide and today you are around 4.00 percent. If you are one of the many that have waited, you will have saved 13% on your mortgage payment. Take a look at the math :

February 2011 : $539.88 principal + interest for every $100,000 borrowed

February 2012 : $477.42 principal + interest for every $100,000 borrowed

That's $62.06 monthly savings for every $100,000 borrowed.

Same Mortgage Payment ~ 77% More Home

 When you buy a home, you think in terms of "monthly budget" and that's why mortgage rates are critical to home affordability. Your purchasing power is a direct reflection of the mortgage rates of the day. As mortgage rates rise, purchasing power falls. As rates dip, purchasing power rises.  This is why your mortgage dollar goes so much farther today as compared to 20 years ago -- mortgage rates are scraping rock-bottom in 2012 at levels that were previously unthinkable to economists. 

Let's say you have a monthly budget of $1,700 for your mortgage.

In 1991, a $1,700 mortgage payment gets you a loan size of $200,000

In 2011, a $1,700 mortgage payment gets you a loan size of $353,000

In other words, in 2012, for the same monthly payment, you can borrow 77% more from the bank than you could in 1991. Talk about a great deal!   

While property values rose, the affordability index dropped. With rates low and property values stabilizing, this becomes as close to the “perfect time” to buy as we can accurately estimate. No one knows when the bottom or top of any market comes until after it is long gone. Whether we are moving up, down, or laterally the forecasts say that now is the time.

Jim Harmelink

ERA Mortgage
NMLS# 283201
Office: (719)535-7405
Toll Free:(866)820-5526
Fax: (719)535-7393
Mobile: (719)651-0291http://jimharmelink.eramortgage.com/

If you like numbers and statistics you're going to LOVE the 2011 year-to-date Colorado Springs real estate market analysis and preview to 2012.  Happy reading!

Colorado Springs real estate statistics!

Call us if you have any questions. 
Tammy and/or Gayle

Should I clean my own carpet with one of those professional carpet cleaning machines?



Here's a pic of the professional carpet cleaning machine I use

 Have you ever considered buying your very own commercial grade carpet cleaning machine?  Well I did it, and here's my story:

I used to rent one from Home Depot every few months or so (just like the one pictured above).  Then I got tired of schlepping that thing back and forth (it's heavy) so I asked if I could buy it.  They, of course, obliged to the tune of around $400.  Which, I believe, is about market rate for one of these carpet cleaning units.  I saw one at Costco, similar unit, different brand, for about that.  New is probably better.  I bought a used one for some reason.  Was it a good investment?  If you consider spending @ $100 a pop to have the professionals do it, perhaps it pays for itself after 4 or 5 uses.  But remember the opportunity cost and sore muscles (if you're out of shape like me). 

If you decide to spring for one (or rent one), here's a couple things I've learned over the years:

• The handle folds down & makes it slightly more compact & easier to carry.  It's still heavy though.
• Use hot water with little to no "shampoo".  I will either directly spot-treat or place a 1/4 cup of Folex in with the water if necessary.   Folex is the best because it doesn't foam up or leave residue. I used a foaming shampoo once, and it reminded me of that episode of the Brady Bunch when the washing machine overflowed with suds.
• Use your bathtub to fill the blue water bucket.  I used to do it at the sink, which made a mess & took forever.  I even went so far as to boil water on the stove & then put it in.  Loser.  I know.  Beware: I think hot cleans best, but it can loosen the glue. 
• Dump the dirty water in the toilet.  It will be filthy, disgusting and likely have pet hair and small rocks, which the toilet can handle.  I used to poor it in the kitchen sink & the disposal almost blew up trying to grind those tiny rocks. 
• When cleaning, pull the machine backwards and go slowly, slinging that cord over your shoulder. I was told when I rented it to be sure, whatever I did, DON'T run over that cord! I've never done it.  Not sure what really happens, but just in case. 
• You'll get used to the loud, obnoxious noise, but when it changes to a different kind of annoying buzzing sound, it's out of water.  Watch the little clear tube in back as well, because it will show the level of water.
• Try to do it on a day when you can have the windows open & the ceiling fans on.  It get super humid.
• If you use the hand tool, be sure to connect it properly.  I had Home Depot order me a new one, got home and realized they had the water hose opposite the suction hose end and I had to rework it.
• When done, take the blue bucket off, and if possible get it lower than the unit itself.  Then pull the clear tube on the back down, into the bucket, and the remaining water will come out. 
• It's not a bad idea to run a bucket of clear, clean water through using the previous step.
• Afterward, I also hold the hand tool hose up to an outdoor water spigot to rinse it through.

Did I do the right thing buying this machine?  Should I have kept renting or just hired someone to do it?  I'm not sure.  I like to think I'm saving a bundle, and I like to do it when/where I want to.  I guess I like to have the control too.  This last go-around, I actually used the spray hose on a few dirty walls & wiped 'em down while I was at it!  Cleaned my car's carpet & upholstery too.  Now that I know the ropes, I think it was worth it.
http://www.motherdaughterrealestate.com/