For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com

• Don’t let your dream house become a nightmare
• Pre-Qualification or Pre-Approval, which do you need to buy a home?
• Homes sold “As Is” in Colorado Springs….what does it mean?
• Homes in Colorado Springs, 5 things to know about buying foreclosures

My pick of the week is in Holland Park area on 1090 Kara Ridge Pt.

It includes over 1400 square feet, with 2 bedrooms, 3 baths,  2 car attached garage. 

If you are looking for a Colorado Springs townhome at a reasonable price in the desirable west side located close to Garden of the Gods, then this is the property for you.

The downside

Even though the property was built in 2004, the property has been lived in fairly hard.  There are some dings in the wall, paint chiped on some of the bull nose corners, some broken tiles in the main entryway; all easy cosmetic things to fix.

The one downside I saw about the property, the master bath only has a shower, vs. a shower and bath.   The carpet going to the garage is stained, but it may be able to be cleaned up.  Also it’s a typical bank-owned property with no appliances, but it has been cleaned up.

The other thing I didn’t like about the property was it’s location in the complex.   It’s a middle unit and there are another 8 units located just a sidewalk away; because of it’s location it felt dark and crowded.

The upsides 

The upsides, large attached two car garage, laundry on the same level as the bedrooms, nice functional kitchen with a seperate dining space, new built.

They have a unique floor plan, as there is one set of steps that go down to the garage; and a seperate set of steps at the entrance that go up to the main level which includes the kitchen, living room, dining room and a 1/2 bath.

HOA’s are very reasonable at $105.00.

The Facts

The description in the MLS is GATED COMMUNITY* CLOSE TO SHOPPING* OPEN MAIN LEVEL WITH FIREPLACE* LARGE MASTER WITH LARGE BATH AND WALK-IN CLOSET* UPPER LEVEL LAUNDRY* BASEMENT IS GARAGE* NEEDS SOME TLC* GREAT COMPLEX & LOCATION.   .

The El Paso County Assessor’s office has it valued at $ 191,558.

At the current list price of $ $149,900 it’s priced at market value, but of course it would be nice to get it even cheaper.  There are no other bank-owned properties in complex , but there is 1 other one for sale at $159,000 and it’s an end unit, which is even more desirable.   Comparable properties have sold from $145,000 to $166,000.

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To find out more information about Colorado Springs, Call ……

Kathy (719-287-1049)   KTorline@msn.com

For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com

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I’ve had several experiences recently with surveys for two different Home buyers in the Colorado Springs Area.    As usual, my day to day life as a realtor provides me with constant topics to write about.   Let’s start with the basics of a Survey and ILC:

What is a survey? 

A land survey is completed to exactly locate the boundaries and monuments of a property.     Missing monuments (property corners) will be replaced.    All above ground improvements and utilities will be documented. 

What is an ILC? 

An ILC is not a survey, and the initials of ILC stand for Improvement Location Certificate   It is merely a surveyor’s opinion that the the buildings and major improvements appear to be located on the property described in the deed.  

What is the difference between an ILC and a survey?

The surveying methods used in the preparation of an “ILC” are not sufficient to precisely determine the location and dimensions of property lines, or the exact location of improvements upon or adjacent to the subject property.   It is not a full survey, takes less time to complete and costs less than a survey.

Because of the methods used in a ILC, the following verbiage is typically included on an ILC ….. it is not to be relied upon for the09299-02 establishment of fence, building or other future improvement lines…”

Why do some title companies require an ILC?

Some title companies will require an ILC to verify that the structures or improvements being purchased are actually on the property and also if there are any encroachments from adjacent properties.

When should I get a survey vs. an ILC?

Even though an ILC provides a wealth of information, if you need to know exactly where your property lines are, a survey is the way to go.

The next article in this series will included the Top 10 reasons to get an ILC and/or a survey.

Remember, Knowledge is Power

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To find out more information about Colorado Springs, Call ……

Kathy (719-287-1049)   KTorline@msn.com

 

Search for Homes in Sunset Mesa 

The majority of the houses were built in the 1980’s and 1990’s and range from 3,000 to 5,000 square feet with a 2 car to 3 car garage.    All of the homes were custom built, and most of the homes are Ranches and Raised Ranches, but there are also some 2-storys in the area.   The current average list price for sold homes in 2009 was $505,083 and the average days on market is 396.    Many of the homes have great views of the Front Range and Pikes Peak and they get the extra benefit of enjoying the Open Space of Sunset Mesa. 

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• Homes in Crystal Hills, hidden gems
• Mountain Shadows homes in the foothills
• Pinecliff homes, secluded and quiet
• Colorado Springs Neighborhoods – Pleasant Valley

To find out more information about buying a home in Colorado Springs or Manitou Springs, call ….

Kathy (719-287-1049)   KTorline@msn.com

Must Read Posts:

• How do I prevent frozen pipes?
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Since I work with many home owners and home buyers, and I’m very cautious on people I recommend to assist them.  I started to think about the benefits of the Colorado Springs Better Business Bureau in helping people choose businesses to hire.

Do you have any of these questions?

• Do you need a new roof?
• Do you need a heating contractor?
• Are you looking for a good plumber?
• Do you need someone to build a fence?

In the old days, you’d pull out the Yellow Pages, and flip through them until someone’s ad caught your eye.   In current times, you’ll probably turn to the Internet and use Google or some other type of search engine to find some businesses to call; or you’ll ask a friend or a business acquaintance for a recommendation.  Maybe in addition to your Internet search, you should also do some quick research with the Better Business Bureau.

Here’s some examples on how you can the BBB web site, you can pull up information on companies that are registered with the BBB in Southern Colorado Springs.   As an example, there are many home inspection companies listed.   You can pull up information on each company which includes:

• How long they’ve been a member of the BBB
• Their BBB Rating
• Their contact info
• Complaint history
• Their length of time in business

There seems to be categories for just about everything imaginable, including Honey, Horse Training, Home Warranty Plans, Home Inspection Services, and Hardwood Floor contractors.

It’s important to understand that the Colorado Springs Better Business Bureau does not endorse any product, service or business and the Reliability Reports are provided solely to assist consumers in exercising their own best judgment.  

Remember, Knowledge Is Power!

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Kathy (719-287-1049)   KTorline@msn.com

During the last two weeks of October,  64  bank-owned properties came on the market;   15  (24% ) of them are already under contract, or pending. 

Homes in Fountain and in the Southeast area of town continue to see the most foreclosures

For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn 

New Colorado Springs Foreclosure Listings

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Related Articles:

• Don’t let your dream house become a nightmare
• Buying HUD homes in Colorado Springs, Part II
• Buying HUD homes in Colorado Springs, Part I
• Pre-Qualification or Pre-Approval, which do you need to buy a home?

To find out more information about buying a foreclosure in Colorado Springs, call ….

For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com

I am consistently asked by buyers how much they can expect to pay for a Colorado Springs foreclosures.  My research shows that short sales and foreclosure sell for right around 97% to 99% of the list price.    If you think you will get a Colorado Springs foreclosure or a Colorado Springs short sale for 50% off, you are wrong and wasting your time.  These homes are already priced aggressively and ready to move. When you look at the SOLD price for the different categories, bank-owned home sold for 31% less than the “normal” sales in Colorado Springs  Here’s a quick recap of September Sales:

Colorado Springs Foreclosures September 2009

• 114 Foreclosures Sold (14% of the total sales for the month)
• $147,189  Average Sales Price
• 99% Sold for Price  vs. List Price
• Average days on market:  58

Colorado Springs Short Sales September 2009

• 63 Short Sales Sold (8% of the total sales for the month)
• $163,177 Average Short Sales Price
• 97% Sold for Price vs. List Price
• Average days on market:  157

All Colorado Springs Real Estate sales September 2009

• 823 Sales
• 97.2% Sold for Price  vs. List Price
• $214,848 Average Sales Price for Single Family Homes
• Average Days on Market:  74 for Single Family Homes

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Related Articles:

• 8 biggest mistakes made by Colorado Springs home buyers
• Buying HUD homes in Colorado Springs, Part I
• Buying HUD homes in Colorado Springs, Part II
• Colorado Springs HUD Homes – Part III in FAQ’s
• HUD homes available for $100.00 downpayment 

Windows

Colorado Home Improvement Part I

With a major snowstorm in the works in Colorado, I thought it may be a good time to talk about windows — as they are an investment in your home.    If you are considering purchasing new windows,  here are some ideas and tips you might consider:

Reasons to replace:  If your house has ugly, older aluminum, steel or cheap warn wood windows, replacing your windows can definitely enhance your home as well as provide a major energy savings.   There may also be all types of other reasons you want to replace them …….if you only have single pane windows …… if they are cracked ……..if the seals are broken …….  if you can feel a cool breeze around them.

In the Colorado Springs area, there were may houses that were built in the 80’s that included lower quality wood windows.  When you look at these homes now, many of the the windows don’t slide open, and the wood has warped; hence some of the seals are broken.    I can’t imagine they are very energy efficient.    All good reasons to look into replacing them.   Also, some studies show that 25% to 40% of the heat in your house could be reduced with a window replacement.

Materials: There are many, many different options including wood, clad wood windows (wood on the inside and vinyl or aluminum on the outside), vinyl windows, aluminum windows, and steel windows.  Each type has different benefits and costs associated with them.    I found a wonderful article on Home Tips.com which gives a good explanation of the different types of window materials.
 
Shopping:  The replacement-window business is highly competitive; which means you can get a good deal by doing some careful shopping.   Interview at least two dealers , and ask them to provide the names of several recent customers whom you can call for feedback.

Extras:   In the Colorado Springs area climate, low-e glass can be helpful.   It’s a reflective metallic film on the inside of one glass pane that mirrors heat into the house in the winter and helps keep glare and the sun’s heat out in the summer.

Glass rating:    You may want to make sure your new windows are Energy Star rated.   The designation means that the units have been tested by the NFRC (National Fenestration Rating Council – an industry group) and are certified to meet the latest government regulations for overall window efficiency.

Warranties:   There are transferable warranties that come with many window packages.  Look for one that includes a lifetime glass-breakage guarantee.   Also, note that most of them require re-registration with the dealer each time the house is sold.

Cost:   You’ll spend anywhere from $300 to $500 per opening for new basic windows – more for unique configurations such as bays, bows, octagons and picture windows.

Savings:  You can recapture most, if not all, of the cost in energy savings, but it will take the better part of 10-15 heating seasons.  Some expert think that windows can account for about a quarter of the heat loss in a typical house.  

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Kathy (719-287-1049)   KTorline@msn.com

It’s that time of the year again, Daylight savings goes into affect next Sunday, November 1st

For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com

The U.S. begins Daylight Saving Time begins at 2:00 a.m. local time on the second Sunday in March and reverts to Standard Time at 2:00 a.m. on the first Sunday in November.

Here’s some facts

• Daylight Savings time is not observed in:  Hawaii, American Samoa, Guam, Puerto Rico, the Virgin Islands, the Commonwealth of Northern Mariana Islands, and Arizona.   The Navajo Nation participates in the Daylight Saving Time policy, even in Arizona, due to its large size and location in three states.
• The official name is Daylight Saving NOT Daylight Savings.

History Tidbits about Daylight Saving Time

• Benjamin Franklin is thought to have come up with the idea for daylight-saving time in 1784.   In a whimsical letter to a French journal, he said that Parisians could save thousands of francs a years by waking up earlier during the summer because it would prevent them from having to buy so many candles to light the evening hours.
• It originally was started during World War One to save fuel by decreasing the use of artificial lighting in homes and workplaces. Although some people still observed Daylight Saving Time between World War One and World War Two, it was not officially observed nationally again until the beginning of World War Two.

It’s time to fall back

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Kathy (719-287-1049)   KTorline@msn.com

Sometimes I feel like I’m on the front-line of the economy; as I help home sellers in the Colorado Springs area who are in distress with short-selling their home; as well as I have many buyers who are looking at buying a bank-owned foreclosed homes.  As I walk into houses that are now bank-owned, I often wonder what happened to the previous owners of the house; what happened to their kids; their jobs. their pets.    I always hope they are able to pick up their lives and start over.

There are Options for pets

Also, here’s some additional resources that can help:

• Colorado Pet Shelters
• Animal Shelter Org
• Colorado  Dumb Friends League 

Help spread the word — there is help out there for the innocent victims.

If you know of any other resources, contact me and I’ll update the post with additional resources

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Kathy (719-287-1049)   KTorline@msn.com

Search for Homes in Colorado Springs and Manitou Springs

Kathy will be at an open house this weekend on Saturday from 12:00-3:00pm, you can stop by and see her at this home at 43 Karen Lee Lane in Crystal Hills in Manitou Springs.

This 3 bedroom 2 bath custom designed home is over 2,000 square feet on a idyllic manicured lot.

There are magnificent views of Garden of the Gods from the neighborhood.

The professionally redone Tuscan Style Kitchen and open floor plan are perfect for entertaining

The Inviting back deck with a hot tub is adjacent to the sun room.

Designer paint provides just the right touch!

It’s on the market for less than $350,000.  Stop by on Saturday and say hi!

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Kathy (719-287-1049)   KTorline@msn.com