What's Going on In and Around Colorado Springs

Agent Spotlight: Realtor, Georgia Curie

2010-12-06T17:44:00.000-07:00

MEET REALTOR, GEORGIA CURIE

Georgia Curie is an outdoors girl so it makes perfect sense that she would make her home in the mountains outside of Woodland Park when she moved here seven plus years ago. Today, she shares her passion for nature and mountain living with her clients as one of Woodland Park's leading Real Estate Agents. Today we sat down with Georgia to learn a little more about her.

Georgia, how long have you lived in Woodland Park and where did you move here from? I have lived in Woodland Park for 7 1/2 years and moved here from Ashtabula, Ohio where I lived most of my life.

What do you like to do on your day off? I like to hike with my dog and I also love to get together with friends and family. Sight seeing is also a priority. You never run out of things to do and see in Colorado!

What's your favorite neighborhood in town and why? My neighborhood, Spring Valley. It's my favorite as I am a mountain and a water person. This neighborhood has the best of both worlds with Pikes Peak, Devils Head Mountain views and 4 lakes! It is also near the national forest so there is great hiking within walking distance.

Where did you go on vacation this year and what was the coolest thing you saw? This year we went to Rocky Mountain National Forest for a few days. We were at the highest elevation at sundown. There was a strong wind so the clouds were all around us, moving in fast speed with the sun behind it all. It was incredible! Surreal.

Why did you choose a career in Real Estate? I am a people person and never get tired of seeing homes! I also enjoy the process and sense of accomplishment when a deal comes together and I see the excitment of the new buyers! Years ago I had an astrologist do my sign and birthday. The house was in my sign, so I feel it was my destiny!

To contact Georgia visit her website or email her.

Colorado Named #3 Best Cities for a Housing Recovery

2009-08-20T12:32:00.001-06:00

Best Cities For A Housing Recovery
Matthew Woolsey, 08.13.09, 4:00 PM ET
From Forbes.com

The stock market is up 50% from its lows in March, and consumer spending increased in May, June and July. But when will housing turn around?

Even the wisest can't answer that, and experts caution against putting too much hope in rising home prices given the country's unemployment situation and high rate of mortgage defaults. But key measures indicate that some metros are more on their way to recovery than others.

Take Miami. Sales are up 27% over last year and only 3.5% of those are the result of foreclosure resales. In Lincoln, Neb., where sales are 15% higher this year than last, only 3.6% of them involved bank-owned properties Both top our list of markets on their way to health.

In Depth: Best Cities For A Housing Recovery

Behind The Numbers
In compiling our list, Forbes looked at 161 of the country's largest metropolitan statistical areas (or metros)--geographic entities defined by the U.S. Office of Management and Budget (OMB) for use by federal agencies in collecting, tabulating and publishing federal statistics--where sales activity had picked up over the last year, but where foreclosure sales, as a percentage of overall sales were the lowest. Our data came from Zillow.com, an online housing data firm based in Seattle, Wash. Our list doesn't profess to call the turnaround, but rather point out which cities are in the lead on the road to recovery.

To be sure, the national real estate picture remains grim. In Las Vegas and Madera, Calif., for example, respective sales are up 40% and 64% from a year ago. But 67% and 71% of those respective sales are from foreclosure resales.

The Rankings

10. San Jose, Calif.

9. Santa Barbara, Calif.

8. Redding, Calif.

7. Denver, Colo.

6. Bremerton, Wash.

5. San Luis Obispo, Calif.

4. Salem, Ore.

3. Colorado Springs, Colo.

2. Lincoln, Neb.

1. Miami-Ft. Lauderdale, Fla.

Other areas, however, are showing a spark at the very least and signs of bottoming at the very best.

Miami and Lincoln were followed by Colorado Springs, Colo., Salem, Ore. and San Luis Obispo, Calif. Here, sales have returned, but foreclosures are a relatively small percentage. In Colorado Springs, sales activity is up 14%, while transactions involving bank-owned properties made up one-fifth of them. While 20% is still a sizable chunk, it's relatively sound compared with areas like Bakersfield and Vallejo, Calif., and Phoenix, where over 50% of sales made up of foreclosures.

Because housing, like any asset, depends on supply and demand, the sales rate is an incredibly useful statistic in judging a recovery. However, an increased number of sales does not necessarily mean an imminent recovery.

"A bottom in sales volume is not the same thing as a bottom in home values," says Stan Humphries, chief economist at Zillow.com. "The former is a necessary precondition for the latter, but most economists expect prices to keep falling nationally through at least the early part of next year."

In Depth: Best Cities For A Housing Recovery

Mine Subsidence...it could happen to you

2009-08-15T23:55:00.003-06:00

If you're new to Colorado Springs, you might not realize that back in the late 1800's and early 1900's Colorado Springs used to mine for Coal right here in town. There are two large mines, one in the Rockrimmon area and the other by the Colorado Springs Golf Course. I found this video on CNN today about a homeowner in Kentucky whose house just started breaking apart. Although he has mine subsidence insurance, it will likely not cover the total cost to replace what he has lost. Before you buy in those areas of town call me to see a map of where the mines are and I can give you info on mine subsidence insurance.

Six Quick Tips to Make Your Move Go Smooth

2009-06-22T12:09:00.001-06:00

Moving can be very stressful, but there are ways to help you tackle the task. Here are six quick tips to make your next move go more smoothly:

1. Have a garage sale well before you begin packing. That way you won’t be taking unnecessary items to your new home. (Here’s your chance to unload all the things you don’t want or don’t need any longer. You’ll be glad you did.)

2. Use sturdy, reinforced boxes. Go to a professional moving company to get the right boxes. Your grocer’s boxes just won’t do. Remember to pack your boxes carefully.

3. Use towels, blankets and pillows to separate pictures and fragile items. Pack all your glass items and dishes vertically and with packing materials to prevent any breakage.

4. Label all your boxes. Mark boxes with FRAGILE ITEMS on the outside.

5. Pack one box with essential items: coffee, tea, soap, toiletries, flashlight, plastic ware, snacks, paper towels that you can open when you arrive. Mark this box OPEN ME FIRST...that way you’ll have the essentials when you arrive at your new home.

6. Lastly, work with your moving company. Be sure to have your shipment’s registration number, and let the company know how to reach you at all times.

If you are in the market for buying or selling a home and need competent and caring representation, please call me at 330-8531 or visit me online at www.YourHomeInTheSprings.com.

Organic Fun in the Sun(flower)!

2009-05-15T11:29:00.003-06:00

If you’re into healthier foods, a new store is opening in Colorado Springs on May 27, 2009 at the former CVS/Longs Drugs store at 1730 Dublin Boulevard. Sunflower Farmers Market is the new organic kid on the block. Their motto is “Better-than-supermarket quality at better-than-supermarket prices.” So if you’ve been shopping at Whole Foods but you don’t like the high prices, you might want to check this store out.

Grand Opening festivities start at 6:30am, they will be giving out free Sunflower reusable shopping bags to the first 200 customers, they’ll also have free food, chair massages, kids activities and special prices! If you go, let me know what you think! Email me at donna@yourhomeinthesprings.com!

P.S. For coupons visit: http://sfmarkets.com/coupon%202.html

How To Buy a Bank Owned Property When It Needs Repairs

2009-04-07T15:56:00.004-06:00

So you want to take advantage of all the really great prices on bank owned properties but as you look at them so many of them need work. More work then you think you can do on your own. Once you buy the property you won't have the money left over for repairs and even if you wanted to buy the property would the bank actually give you the money? The answer is...YES! There is a loan product available called the Streamlined 203k. It is an FHA loan that requires 3.5% down but allows you to borrow 10% over and above the purchase price. So lets say that you want to buy a $150,000 house. With a Streamlined 203k loan you can actually borrow up to $165,000. With the money you can paint, put in new appliances, finish the basement, put in new flooring etc. The way it works (at a high level) is that you need to get 3 quotes for each of the things you want done and you have 45 days to get the work done once you have closed. The bank will pay the bills for the repairs/upgrades and any money not used will go towards reducing your loan amount. No, you can't keep the extra money and take that trip to Hawaii you've always wanted. But this is a terrific way to get into an affordable home. For more information call me at 719-330-8531 or email me at mailto:donna@yourhomeinthesprings.com

Short Sales vs. Bank Owned Properties

2009-03-27T15:36:00.003-06:00

It's getting tougher and tougher these days to find a house to buy if you are looking to get in to a home in the short term. When looking to buy a home there are three types of homes that are in the market: those where the seller can afford to sell; those where the seller cannot afford to sell and is asking the mortgage lender to take less then what is owed (often referred to as a "short sale" or in some cases "pre-foreclosure") and bank owned properties.

In the past a typical sale was one where the seller could afford to sell. You make an offer and within 24 hours usually you have an answer and then you close within 30 - 45 days. Bank owned properties follow suit in this manner with one difference being that it can take a few days to get the offer accepted and then it can take up to a week to actually get all the signed documents back stating that you are officially under contract. Once the paperwork is received you close within 30 - 45 days.

Short sales on the other hand are not for the faint of heart. When you make an offer on a short sale property it may take anywhere from three to six months (sometimes more) to get an answer from the bank as to whether or not they will agree to take less then the amount owed. In some cases the homeowner ends up in foreclosure long before an answer is ever received and you have to start all over again. In my experience most buyers are anxious to get a new home. If that is your case then you shouldn't even look at short sales as an option. While you can get a home at a great price, most buyers don't have the patience to wait for an answer. The unfortunate thing in this market, with home prices falling, is that more and more of the properties on the market are short sales. If you want a property at bargain prices you will need to do some strategizing and either start the buying process six months in advance so you can take advantage of a short sale property or rule out the short sales and just look at bank owned properties.

For more information on short sales, bank owned properties and the current market call me at 719-330-8531, visit my website: www.YourHomeInTheSprings.com or email me at mailto:donna@yourhomeinthesprings.com

February Market Update

2009-03-12T17:16:00.002-06:00

The Pikes Peak Association of Realtors reported sales were down by 9.4% from last February which is much better then the figures for January which was off by 22% from the previous year. Housing prices in February were down 10.3% from a year ago. The good news is that the number of listings is still declining which is the start to a better market. When fewer homes are on the market and buyers start to come out of the wood work the market will find equilibrium and prices will start to get better.

First-Time Home Buyer Tax Credit

2009-03-03T18:40:00.003-07:00

If you have not owned a primary residence in the last three years and you earn less then $75,000 per year and you're single (or $150,000 married) you are most likely eligible for a tax credit equal to 10% of the purchase price of any primary residence home you buy in 2009 to a maximum of $8000. Because this tax credit is refundable you can get money back even if you don't have much tax liability. The only thing to beware of is that you must stay in the home for three years in order to keep the credit. If you move before the three years you may have to return the credit or some portion to the government. With housing prices lower then they've been in a few years coupled with this incentive it is the perfect time to buy. If you'd like to see what kind of homes are for sale in Colorado Springs visit my website: http://www.yourhomeinthesprings.com/. If you have questions, call me 719-330-8531.

Cottonwood Creek Winter Wonderland

2009-02-18T22:33:00.008-07:00

This past weekend we had a cold spell. One of my favorite things is when you wake up and the trees are all white with frosty snow. So Saturday I walked down by Cottonwood Creek (near Dublin and Rangewood) and took these photos. This Magpie was just hanging out in a tree.

This is Cottonwood Creek. Those big trees along the river are Cottonwood Trees and in the spring/summer they blow little cotton like seeds all through the air.

First Time Home Buyer's Will Need a Little More Money Down

2009-02-11T13:20:00.004-07:00

FHA loans have always been a great option for first time home buyers because they require little money down and they are more lenient on credit scores. Recently, FHA changed the requirements for borrowers. The changes are as follows:

Minimum Down-payments have increased from 3% to 3.5%
Mortgage Insurance Premiums have increased slightly. This means your payment will be a little higher. (Note: Mortgage Insurance covers the bank that issues the loan in case the borrower defaults they are covered for up to 20% of the mortgage amount.)

The advantages of the FHA program, especially for first time homebuyers or buyers with limited down-payments, are still just as compelling:

The entire down-payment can be a gift from family
The seller can contribute up to 6% towards buyer’s closing costs and down-payment assistance programs like CHAFA.
Maximum loan amounts have substantially improved from years past ($271,050 for El Paso County)
Credit requirements are more flexible than traditional loans.

If you'd like to find out if you qualify for a loan, please give me a call at 719-330-8531.

January Home Sale Numbers

2009-02-10T11:41:00.004-07:00

Well for as busy as I was in January I would have sworn that the home sale numbers for January would be up but the numbers that came out today were still down. The Pikes Peak Association of Realtors reported sales were down by 22.7% from last January and down 16.6% from December. The good news is that listings were down by 14.1%. Why do I think that is good news? Because as the inventory of homes for sale comes down and we are coming into prime selling season the market should come to a little bit more equilibrium. That means housing prices will start to make a turn and it shouldn't take as long to sell. Call me ever hopeful but I see the light at the end of the tunnel.

Yummy New Downtown Restaurant Find!

2009-02-09T21:59:00.003-07:00

Well, for anyone who knows me you know I love good food. Today I was turned on to a new restaurant downtown (o.k. it may not be new to you but it was new to me.) The restaurant is called Flavors and it's located on North Tejon across from Poor Richards. They serve breakfast and lunch daily and are open for dinner on Friday and Saturday nights. I went with my friend Amy and had an incredible Chicken and Fried Goat Cheese Salad. I'm not really a big salad person but this was an incredible salad with apples, pecans, field greens, chicken and fried goat cheese in a light vinagrette. Amy tells me their breakfasts are out of this world and I can't wait to go back. Hope to see you there!

Fred Crowley Confirmed It - Colorado Springs Real Estate Market has Hit Bottom

2009-01-29T14:16:00.004-07:00

On Tuesday, Fred Crowley the Senior Economist with the Southern Colorado Economic Forum visited our offices and he confirmed what I said last week. We have hit bottom. He said we may not take an upturn right away but we have definitely hit bottom. What that means is all the economic indicators he watches show that housing prices have started to flatten and hopefully soon will be back on the rise. He also said we never had a "bubble" here in the Springs. He compared us to Phoenix where prices came down more then 40% and Tampa which came down more then 30%. Our housing prices are only down 8%. While that may be disappointing to you if you are looking to sell your home soon, understand that while your home is worth less so are the ones you are looking to buy.

Looking for a Great Home in Jackson Creek

2009-01-26T22:18:00.002-07:00

I just listed this great home in Jackson Creek. It's got four bedrooms up, formal and casual areas on the main and an unfinished basement that could be made into a walk-out. It is tastefully decorated, has views of the mountains and is ready to move in. Check it out at:
www.401oxbow.info

Or check out my other new listings at:
www.yourhomeinthesprings.com

Get Off the Fence...It's Time to Buy!

2009-01-15T17:14:00.005-07:00

Over the last few months buyers have been holding onto their pocket books saying they wanted to wait for the Colorado Springs Real Estate market to hit bottom. Well, from my perspective it has hit bottom and is on it's way up. Now I don't think it is going to jump to a seller's market any time soon but I can tell you that there were alot of people out looking at homes this weekend. More then probably the last few months put together. Homes are now getting multiple offers where they once would be lucky to get one. If you are thinking about buying there are still great deals to be found (and interest rates are incredibly low) but you will need to get moving because they won't last forever and you may be competing against others for the same great deal.

Looking for a great deal on a stunning rancher sitting on 2.65 treed acres?
Check out this great home:

18955 Wing Tip Court

Appraised at over $800,000 last year it is now listed for $649,995. It's an awesome deal at an awesome price.