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Vol. 3 No. 6

February 28, 2011

The Housing & Building Association recognizes outstanding members of the Association

Home price stabilization seen in most metro areas during fourth quarter, sales up Home sales rebounded in 49 states during the fourth quarter with 78 markets – just over half of the available metropolitan areas – experiencing price gains from a year ago, while most of the rest saw price weakness, according to the latest survey by the National Association of REALTORS®. Total state existing-home sales, including singlefamily and condo, jumped 15.4 percent to a seasonally adjusted annual rate of 4.80 million in the fourth quarter from 4.16 million in the third quarter, but were 19.5 percent below a surge to an unsustainable cyclical peak of 5.97 million in the fourth quarter of 2009, which was driven by the initial deadline for the first-time buyer tax credit. In the fourth quarter, the median existing single-family home price rose in 78 out of 152 metropolitan statistical areas (MSAs) from the fourth quarter of 2009, including 10 with double-digit increases; three were unchanged and 71 areas had price declines. In the fourth quarter of 2009 a total of 67 MSAs experienced annual price gains. The national median existing single-family price was $170,600 in the fourth quarter, up 0.2 percent from $170,300 in the fourth quarter of 2009. The median is where half sold for more and half sold for less. Distressed homes, typically sold at a discount of 10 to 15 percent, accounted for 34 percent of fourth quarter sales, little changed from Yun 32 percent a year earlier. Lawrence Yun, NAR chief economist, is encouraged by the trend. “Home sales clearly recovered in the latter part of 2010 and are helping to absorb the inventory, including many distressed properties. Even with foreclosures continuing to enter the inventory pipeline, they’ve

The Housing & Building Association (HBA) of Colorado Springs awarded Brent McPherson with Land Title Guarantee Co. the “Associate Member of the Year”, Mark Witte with DreamMaker Bath & Kitchen. with the “Remodeler Member of the Year”, Greg Ralphe with Classic Homes the “Builder Member of the Year”, and Randy Case II with Case International Company the “Industry Person of the Year”, at its Annual Awards Program on Thursday, February 3 at the Antlers Hilton. These

Brent McPherson Associate Member of the Year

Awards recognize Members for their distinguished service to the HBA, the building industry, and the community.

been selling well and housing supplies have trended down,” he said. “A recovery to normalcy requires steady trimming of the inventories.” Yun added, “An improving housing market and job growth will go hand in hand. The housing recovery will mean faster job growth.” He projects about 150,000 to 200,000 jobs will be added to the economy this year from an anticipated 300,000 additional home sales in 2011. Yun further noted, “Better than expected sales and/ or strengthening in home values can have an even bigger job impact as consumer spending would naturally rise from a housing wealth recovery affecting a vast number of American families.” NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said a very favorable affordability environment is a huge factor in the recovery. “Although job growth has been relatively modest and credit is tight, you can’t underestimate the impact of historically high housing affordability conditions,” he said. “Mortgage interest rates recently hit record lows, median family income has edged up and prices in most areas have been stable following the correction from the housing boom. For people with good credit and long term plans, it’s hard to imagine a better opportunity than

WCR Luncheon

Breakfast w/the Builders

PPAR Town Hall Meeting




Mark Witte

Remodeler Member of the Year

Greg Ralphe

Builder Member of the Year

Randy Case II Industry Person of the Year

Inside are a few words about the awards and each of the recipients:

See Member Awards page 7

what we see today,” Phipps said. “Unfortunately the flow of credit is unnecessarily tight and is constraining the pace of the housing and job growth recoveries.” According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage was a record low 4.41 percent in the fourth quarter, down from 4.45 percent in the third quarter; it was 4.92 percent in the third quarter of 2009. “The healthier local housing markets are also experiencing favorable local employment conditions,” Yun said. Job growth is a major factor in price appreciation in metro areas such as the Washington, D.C., region, where the median existing single-family home price of $331,100 in the fourth quarter is 8.1 percent higher than a year ago; the Boston-Cambridge-Quincy area, at $346,300, up 4.2 percent; and Austin-Round Rock, Texas, at $190,300, up 4.1 percent. Smaller metro areas sometimes see larger swings in price measurement depending on the types of properties that are sold in a given period. In such markets, full year price data can provide additional context. In the condo sector, metro area condominium and cooperative prices – covering changes in 57 metro ar-

See Price Stabilization page 5


National News ................. Page 2 Local News ..................... Page 7 On the Move ................... Page 13 Local Expert ................... Page 14 Around the Corner ............ Page 15

HELPFUL TIP: real-estate/index.htm

EX 20 PE 3K RT

Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website:

Honest & Ethical Service from People You Know. 5333 Nor t h Union Blvd. Suite 100, C olorado Spr ings, C O 80918

Wally Roy

Aric Ulmer

Sharon Higashi

(719) 229-5003

(719) 439-7413

(719) 491-2500 (719) 440-1082



License# 100019804

Branch Manager

Loan Officer

Loan Officer

Bev Creswell Loan Officer NMLS#301804

National News Not affiliated with The Colorado Springs Business Journal

Director of Advertising Rachelle Nardo

Director of Publishing Josh Olson Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colorado Springs, Colorado. CSREJ is published once a month and distributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Building Association and many other industry-related professionals.

Pending home sales continue uptrend Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® The Pending Home Sales Index, a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December

2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. Lawrence Yun, NAR chief economist, credits good affordability conditions and economic improvement. “Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing af-

fordability conditions. Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit,” he said. Read more about this at © Copyright National Association of Realtors. Reprinted with permission.

CSREJ is not responsible for any opinions or facts expressed by non-staff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content. Realtor® is a registered trademark. Sometimes the word Realtor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The registered trademark should be assumed if it is not present.

We welcome the submission of articles, photos and press releases. Please email any considerations to: • Article Submission Please submit articles no longer than 700 words in a Word document with an accompanying byline and appropriate contact information. A headshot is also welcomed. Please submit headshot in JPG format.

• Press Releases Please submit press releases directly into an email or an attached Word document. A PDF is acceptable but not preferred. Please include any photos in JPG format attached to the same email.

• On the Move Please submit a short bio no more than 150 words for anyone that has joined your team in a Word document or directly in an email. A headshot may also be attached to the email as a JPG. This is for any business in the industry (Real Estate, Builders, Title Companies, Mortgage Companies, etc.)

• Photos/Events Please attached pictures in JPG format in an email with any notes or captions directly in the email or in a Word document.

Office: 719.205.1299 Fax: 719.550.4373 Colorado Springs Real Estate Journal LLC 3608 Galley Rd | Colo Springs, CO 80909


Colorado Springs Real Estate Journal

February 28, 2011

WCR Luncheon February 10, 2011

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Above: April Salladay with Legacy Title, Susan Hodges-Hill with Wells Fargo, Sandy Daughtry with Gold Hill Mesa and Feli Camp with Wells Fargo.

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Above: Macie Chadwick with RE/MAX Properties, Heidi Martin and Jayne Bail with The Colorado Association of Mortgage Professionals and Ruthie Lohrig-Kline with Unified Title.

Right: Lynn Edgin with Keller Williams Hope Realty presents Jorgette Krsulic of Colorado Casa with 'Real Estate Broker of the Year'.

Karen Bloser 719-459-7178

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February 28, 2011

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HBA Breakfast with the Builders February 18, 2011

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February 28, 2011

National News Price Stabilization from page 1 eas – showed the national median existing-condo price was $164,200 in the fourth quarter, which is 6.4 percent below the fourth quarter of 2009. Twenty-two metros showed increases in the median condo price from a year ago and 35 areas had declines; only 11 metros saw annual price gains in fourth quarter of 2009. “Consumers in the hard hit regions of Nevada, Arizona and Florida were able to scoop up condos at absolute bargain basement prices,” Yun said. Median condo/ co-op prices in affected metro areas include Las VegasParadise at $60,700, Phoenix-Mesa-Scottsdale with a fourth quarter median of $68,900, and Miami-Fort Lauderdale-Miami Beach at $81,900.

sales in the region rose 11.4 percent in the fourth quarter to an annual rate of 1.82 million but remain 17.8 percent below the surge in the fourth quarter of last year. The median existing single-family home price in the West declined 2.9 percent to $214,400 in the fourth quarter from a year ago. Existing-home sales in the West jumped 19.9 percent in the fourth quarter to a level of 1.17 million but are 14.2 percent below the cyclical peak in the fourth quarter of 2009. “A good portion of the sales activity in the West has been driven by investors taking advantage of discounted foreclosures, with high levels of all-cash transactions,” Yun explained.

Regionally, the median existing single-family home price in the Northeast increased 2.3 percent to $240,400 in the fourth quarter from a year earlier. Existing-home sales in the Northeast rose 15.0 percent in the fourth quarter to a level of 797,000 but are 22.8 percent below the surge in the fourth quarter of 2009. In the Midwest, the median existing single-family home price rose 0.5 percent to $139,200 in the fourth quarter from the same period in 2009. Existing-home sales in the Midwest jumped 18.3 percent in the fourth quarter to a pace of 1.02 million but are 25.4 percent below the cyclical peak one year ago. In the South, the median existing single-family home price edged up 0.3 percent to $152,400 in the fourth quarter from the fourth quarter of 2009. Existing-home

© Copyright National Association of Realtors. Reprinted with permission.

Chicago Title Hosts CTM eContracts Class January 26, 2011

Above: Jim Martin and Jim Wright with ERA Shields, Bryan Vail with RE/MAX Properties and Rex Grob with Kline Realty.





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Above: Sarah Swint with Swint Realty, Gerry Lee with Weichert Realtors, Andrea Tucker with Chicago Title and Dave Swint with Swint Realty.

Above: Rich Feasel with Chicago Title and Kenton Carew with Bennett Shellenberger Realty.

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Local News Member Awards from page 1 Associate Member of the Year It takes many member companies from all areas of our industry to make our Association the strong force within the community. Many of these companies are Associate Members who are constantly at the forefront of HBA activities – serving on committees, organizing events, lending their expertise to industry issues, and recruiting and retaining members for our organization. The 2010 Associate Member of the Year, Brent McPherson, is Chair of the Sales & Marketing Council, represents the Council on the Board of Directors and is a strong advocate for the HBA in the community. Since becoming a member more McPherson six years ago, Brent has been a fixture at the HBA and its events. Brent also serves on many committees with the Pikes Peak Association of Realtors and as the Cub Master of his son’s Cub Scout Pack. Nominees also included Greg Gandy of BiggsKofford, P.C. and Amy Cox with EON Office Products. Remodeler Member of the Year This is the third year HBA has recognized members of the Association who are in the remodeling industry who contribute their time and resources to the betterment of the building and remodeling industry and the Association. Mark Witte with DreamMaker Bath & Kitchen is a long-time member of the Association and well respected among his peers. Mark is known for his ability to rally his team of remodelers to insure Witte that our association is represented well in our community. For the last three years, Mark served as Chair of the Remodeled Homes Tour and has been instrumental in its success. He has taught many seminars on remodeling both locally and in the region. In

Colorado Springs Downtown Office 2 North Cascade Avenue, Suite 125 Colorado Springs, CO 80903 office: 719.471.1058 fax: 719.471.7546 Colorado Springs North Office 7680 Goddard St., Suite 120 Colorado Springs, CO 80920 office: 719.593.1661 fax: 719.593.1044

the community, Mark is on the Planning Committee for the Rocky Mountain Catholic Men’s Conference, is an officer of the Knights of Columbus and volunteered for Habitat for Humanity. Nominees also included Paul Finch of Holladay Bros. Construction and Ken & Nick Starkey of PineCrest Construction. Builder Member of the Year The Builder Member of the Year is presented to a member who has made consistent contributions toward the betterment of the housing industry and the association. The award is given for significant accomplishment during the past year. Greg Ralphe of Classic Homes is a strong voice on the HBA Code Review committee. Greg was instrumental during the Review of the 2009 International Code Series, while he worked closely with Ralphe Regional Building Department, the Colorado Springs Fire Department, and the Tri-Lakes Fire Department to craft well reasoned Codes. Nominees also included John Bissett of JM Weston Homes and Mark Long of Vanguard Homes.

a founding member of the El Paso County Endangered Species Habitat Conservation Planning team where he assisted El Paso County/City of Colorado Springs in creating a Habitat Conservation Plan for the Prebles Meadow Jumping Mouse. He is also a member of numerous prominent organizations in El Paso County. Nominees for the Industry Person of the Year also included Scott Bryan of Bryan Construction and Scott Mikulecky of Sherman & Howard. The HBA of Colorado Springs is a non-profit trade association comprised of member companies. The local association is affiliated with the Colorado Association of Home Builders and the National Association of Home Builders, which has more than 231,000 member companies nationwide. The HBA of Colorado Springs is committed to promoting policies that allow for the production of safe, decent and affordable housing and to enhancing the environment for the housing and building industry in El Paso County.

Industry Person of the Year The Industry Person of the Year Award is presented to a member who has made consistent contributions toward the betterment of the housing industry and the association. The award is given for significant accomplishment over a prolonged period of time. Randy Case II of Case International is a founding member of the HBA Public Policy Council; has given testimony for industry related activities at local, state and national hearings; is a former member of Case the HBA Political Action Committee and has participated in interviews and advocacy with candidates for Elected Office and existing Elected Officials; is

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Colorado Springs Real Estate Journal


Cherry Creek Mortgage Hosts Update Class January 26, 2011

Above: Sandie Guenther with Cherry Creek Mortgage, Alice Barton with Keller Williams Clients Choice, Jan Whitehead with Cherry Creek Mortgage, Elly Jones with ERA Herman Group and Everett Nordby with Cherry Creek Mortgage.

Above: Mary Lou Risinger with Cherry Creek Mortgage, Bonnie BergerMay with Sellers Brokers and Becky StewartHunt with Cherry Creek Mortgage.

Above: Ruthie Lohrig-Kline with Unified Title, Bill White with Cherry Creek Mortgage, Courtney Kline with Cherry Creek Mortgage, Jennifer Lohrig with Walfton Group Real Estate, Brian Cooper with Unified Title and Everett Nordby with Cherry Creek Mortgage.

PPAR Town Hall Meeting February 16, 2011

Left: Jim Goodwin with Real Living Select Properties and Bill Hays with Avalar. Left: Kate Zeh-Adams with PPAR and Kristen Kuhlman of Blue Ribbon Home Warranty.

Above: Doug Henderson and George Nehme with ERA Shields.

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February 28, 2011

Local News CB Title's Open House February 4, 2011

Orla Homes is building!

Below: Jill Webb with CB Title, Tim Coutts with Central Bancorp and Tom Lazzaro with Sellstate Alliance.

A local builder since 1992

“He was born in the summer of his 27th year, comin home to a place he’d never been before.” That verse from “Rocky Mountain High” by John Denver could be said of Jens Pedersen who moved to Colorado and started building homes with his father, Orla, almost twenty years ago. Together they have built quality homes on the challenging hillsides of Colorado Springs for many years. That same attention to detail that made Orla Homes a successful builder in the high end homes is also in the townhomes that Orla Homes is building now at The Glen at Sand Creek.

Above: Lisa Kenyon, Connie Arbuckle and Christi Pardue with CB Title.

The Glen at Sand Creek Townhomes From the $130’s Overlooking Sand Creek with stunning views of Pikes Peak and the Front Range, these homes have a unique Colorado-contemporary flair incorporating stucco, concrete fiber siding and metal on the exteriors. Every Townhome comes with a two car garage. They are conveniently located in the middle of Colorado Springs so families won’t need to drive “forever” when they live at The Glen. Located just west of Powers Blvd. on Airport Road, The Glen is approximately: • 12 minutes to Ft. Carson • 2 minutes to Peterson AFB • 10 minutes to Downtown • 5 minutes to Powers Blvd. Shopping • 7 minutes to Citadel Mall

“Wow! This is bigger than we expected.” We have heard this many times from families that have visited The Glen at Sand Creek Townhomes and from our buyers, and for good reason. With a well designed home the usable space will be larger. How many square feet are lost in hallways and other meaningless areas in an average home? Are you buying hallways or living areas? Well, you are buying both, but at Orla Homes you’ll get more useable space and less wasted space.

Smart Design and more! Our townhomes have 9’ high ceilings on the main level, while up stairs you will find two or three bedrooms and a loft which would make a great office or entertainment room. At 1430 finished square feet or more, these homes are rather spacious. One of the goals at Orla Homes is to make every part of a home buyer’s purchasing experience go as smoothly as possible. That starts from the first time they arrive with their Realtor. Whether an agent would like to show their client our townhomes during “model hours” or at a different time, it’s easy to do. We have all our available homes on RSC lockboxes so they can be viewed at anytime, just give us a call.

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Above: Joe Serrone with Mortgage Solutions, Donetta Morgan with CB Title and Pete Pressman with Mortgage Solutions trying to see no evil, hear no evil, and speak no evil about our real estate market.

Above: Scott Mullennix with RE/MAX Properties and Mike Betzer with CB Title.

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Local News

Outstanding attendance numbers at HBA Home Show The Housing & Building Association of Colorado Springs Annual Home Show again proved to be a great community event. Nearly 7000 people attended the Show on the weekend of February 11-13 at its new location at the Barnes Marketplace. This year the HBA sought to continue the most unique Home Show for Colorado Springs by hosting the only show of its kind that is totally FREE to the public. These sentiments were echoed by first time vendor Ryan Linnell of the ShelfGenie. "Our first HBA Show was a HUGE success! The event organization, advertising, and facility were all first class. Both the quan-

tity and quality of leads we generated far exceeded our expectations. Thanks again, we can't wait for the next show in April!" And comments from returning vendor, Steve Hoppe President/CEO of Arlun, Inc. The new venue was terrific. Being free to the public was a huge bonus that drove large crows each day; however the space never felt overly crowded. We we’re exceptionally pleased not only with the overall turnout, but with the quality of interest expressed by many. We generated 82 solid leads, which is fantastic in today’s economy! Participation in this HBA event is a win for any business selling to the home industry. The show offered a number of informational seminars that were enjoyed by the public. From “Decorative and Maintenance Options for Asphalt and Concrete Surfaces" by ASAP Companies to "How to Organize Your Clutter with Our Affordable Storage Solution" by The WoodworKings, the HBA’s seminars were diverse and struck a chord with those attending the show.

The HBA would like to thank all of their members and vendors who participated in another special show for Colorado Springs. HBA would also like to thank Nor’wood Development which provided a new home for this year’s Home Show. On April 15, 16 & 17 HBA will be holding a FREE Home & Garden Show at the

same location with more vendors, the huge garden displays that HBA members have been known for through the years, and even bigger crowds. The HBA would also like to thank our sponsors; Champion Windows, Freedom Financial Services, Mike Shaw Buick GMC, The Gazette, KKTV and K Lite 106.3.


s plumbing contractors, we know new homes inside and out. Which is why we’re sold on Campbell Homes. The pros at Campbell Homes go beyond industry standards—even those found in expensive custom homes--bringing uncompromising quality to every detail of the floorplan! No wonder Campbell Homes is a standard fixture in the best neighborhoods. Their craftsmanship is legendary.” John and Connie Claren Springs Custom Plumbing

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For more Testimonials, Locations and Information visit us at Campbell Homes, LLC. 4850 Austin Bluffs Pkwy., Colorado Springs, CO Toll Free: 888-966-9790 • Local: (719) 266-9780 • Fax: (719) 266-9775



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February 28, 2011

On the Move Celeste Marren Blakely Land Title Land Title Guarantee Company is excited to add Celeste Marren Blakely to it's Sales Staff. A long time resident of Colorado Springs, Celeste has been involved in the sales and marketing of both residential and commercial real estate since 1984. Most recently she was affiliated with Nichols and Comito, LLC and Cedar Heights Development. She has sold residential land in the communities of Skyway Heights, Cedar Heights, Stratton Preserve, Stratton Forest, Stratton Pines and Star Ranch. Her commercial experience includes public relations for Schuck Commercial Brokerage and as Director of Client Services for Sierra Commercial Real Estate. Celeste has a strong reputation for developing long term relationships in the Colorado Springs business community. Land Title Guarantee Company is excited to have Celeste on our Team!

Nancy Pykerman Merit Real Estate Merit Real Estate is excited to announce our new addition Nancy Pykerman. She is Married with three children, four grandkids, and five dogs. Nancy had been selling Real Estate since March 2002. She started Real Estate because it’s a great way to meet and make new lifetime friendships. Nancy has a strong love for animals and nature. Her and her husband enjoy spending their free time with the dogs, boating, ATVing, long walks, road trips and most of all, the Grandkids. She loves Merit because it is a great opportunity and a great group of people to work with. She moved to Colorado in 1975 from Michigan.

Freedom is Tom Bechtel (719) 550-6486

Marcus Brown (719) 550-6408


new in the

o f f i ce?

Diane Danner (719) 550-6441

Alex Deboer (719) 550-6482

Josh Callens (Denver) (720) 833-3324

Stephanie Dombrowski (719) 550-6485

Let us know!

See Page 2 for details

Bob Manderfield is Cherry Creek Mortgage Company’s top loan officer in loan purchases for 2010 Bob Manderfield of Cherry Creek Mortgage Company is proud to be recognized as the #1 Loan Officer for all loan purchases in 2010 for Cherry Creek Mortgage Company. Bob was able to close a total of 97 home loan purchases in 2010. Most of the loans that Bob closed were VA loans for the military here in the Colorado Springs area. “I come from a military background,” said Bob Manderfield. “I see the difficulties the military family has with credit and income and the burden on their finances as they move between duty stations. I admire their strength, and determination, as they do their job while their own family struggles with everyday economic issues. They deserve a source of comfort while they undergo the house buying process. I work to improve their credit scores so they can get the best rate, while I provide them sound advice on their circumstances. I push hard to get the most for their money; and a payment they need. I understand how hard the military life can be and I truly look forward to the handshake, and hug, at the closing table knowing that I did everything I could to make that life a little better for those who serve us.” One of the families that Bob was able to assist in getting a loan was the Rowland family. When asked about their experiences in getting a loan with Bob Manderfield of Cherry Creek Mortgage Company, Samantha Rowland said, “Bob was the best thing that could have happened to us. My husband, Randall, is serving in the U.S. Army and currently deployed. Bob came to us in 2010 and helped us get a great deal on a brand new home. Bob was very knowledgeable in VA loans and he saw that we had a higher income/debt ratio so he showed us step February 28, 2011

by step in reducing our debt (selling our truck, making payments on credit cards, etc.) so we were able to qualify for the loan. Bob also showed us all of the incentives from the buyer/seller program and we were able to get our dream home. Even though my husband, Randall, is away serving our country, I am happy that we have a home to call our own and have an investment for our future. Bob was very helpful and the key to make this dream of owning a home come true for our family.” Bob said, “Frankly, I was humbled when I learned that I lead the country in purchase loans closed for Cherry Creek Mortgage Company with nearly 100. It was such a great surprise; as anyone who knows me will tell you, I just work extremely hard and push every deal as hard as I can. I have never kept track of my monthly loans but immediately thought about my team. Mark and Sigrid; my processors, Lorinda; my Underwriter, and Carey my closer, this team made me look great all year long and work as hard, or harder, than me. I owe much of my success to them as well as my Realtor referral partners, and clients, who entrusted me with this important part of their lives in such a challenging economy. I love it when I can put a soldier, and his family, into their home so they can be comforted that we have taken care of them should they be deployed. I have been blessed to work for such an extraordinary company at Cherry Creek, and the best group of people supporting me in my 23 years in the mortgage business. I am truly excited to see what 2011 brings.” For more info on Cherry Creek Mortgage Company or find our more info about obtaining a home loan, please contact Bob Manderfield at 719-548-9999 or email at

Cathy Gonzalez (719) 550-6431

Carol Flynn (719) 550-6470

Lisa Shoblo (719) 550-6480

Brad Shaw (719) 550-6995

Suzi Gradisar (Pueblo) (719) 296-2107

Tony Sloan (719) 550-6439

having a par tner you can trust. Ent – A Realtor’s Lending Partner As a realtor, it’s important to help your buyers find the home they’re most comfortable in. At Ent, we’re here to make it easy for them to find the financing they’re comfortable with!

Learn more in person, online, or by phone. (719) 574-1100 ext. 5602 or 800-525-9623 ext. 5602

Ent offers a wide variety of mortgage loan options* to fit any homebuyer. Plus, all of Ent’s loan decisions are made locally and we service most loans in-house. Ask about our $300 Mortgage Guarantee, too! Contact one of our Mortgage Loan Officers, today. Ent is a community-chartered credit union Equal Opportunity Lender Federally insured by NCUA

*Standard credit qualifications apply. Loans are subject to final credit approval. Financing available on homes throughout Colorado. © Ent Federal Credit Union, 2010 • Ent is a registered trademark of Ent Federal Credit Union.

Colorado Springs Real Estate Journal


Local Expert

There is safety in numbers

Must be a Licensed Real Estate Agent!

• D IR E C T C O N N E C T • with David Knox & Marcia Waters A change in market dynamics creates opportunities for the well-prepared real estate agent. Business is conducted at a more reasonable rate and the competition is reduced by a greater amount than transactions. In this seminar agents will learn:  How to grow their business  How to target their efforts to motivated prospects  How create urgency with their buyers  When to educate sellers to more realistic expectations DAVID KNOX You’ll hear techniques to get your listings priced right and your buyers motivated to

MARCIA WATERS Our NEW Director of DORA-Division of Real Estate will be giving an introduction on herself and elaborate on what we will be expecting in her new role.

Event Information Date: Wednesday March 9, 2011 Time: 8:00a.m.—1:00p.m. Venue: Mr. Biggs—Event Center Entry fee: $20.00 PLEASE RSVP TO CHERRYLYN AT 884-5300 OR CHERRYLYN@ETCOS.COM BY MARCH 2, 2011 Join Empire Title and different vendors for breakfast and lunch. You will have a chance to enter your business card to WIN an iPAD or $100 VISA cards. ** OUR MAJOR SPONSORS:

An article that ran in the Denver Post on January 23 regarding Classic Title Agency in Aurora – “Homeowners stuck if refinance money is stolen” – has raised concern among some borrowers and members of the lending and real estate communities as to the safety of funds provided for closings. Be assured that title companies take privacy and security – as well as client anxiety – very seriously. You do not have to look very hard to find a number of systems and safeguards in place to avoid the potential theft of customer funds or documentation. First and foremost, title companies attempt to hire the most experienced and ethical associates in the industry, and only after a strict series of background checks to review previous employment, references, driving record, credit check and potential prior By Bill McAfee Empire Title criminal activity. Additionally, numerous processes remain in place for the pro- — tection of your finances and your privacy, and those processes are continually monitored and improved upon to maintain the latest and most advanced means of theft prevention and fraud detection.  Escrow accounts are balanced regularly, normally on a daily basis, to confirm the transfer of incoming and outgoing funds.  Deposits, transaction checks and wire transfers are verified by no less than two associates; and, some title companies utilize a unique security mechanism that provides regularly-changing passwords for secure access in handling wire transfers and banking transactions.  Files and accounts are frequently audited to verify that these systems for security continue to be effective and that payoffs have been received and posted by the mortgage holders. Technical Support departments constantly monitor the effectiveness of internet firewalls and virus protection to insure that clients and staff can access operating systems, programs, websites and email without fear of online attacks or hacking. Title company associates must also adhere to strict, comprehensive agreements detailing internal policies regarding privacy of client records and secrecy in company operations. Although Colorado title agents are not required to carry a fidelity bond or an errors and omissions policy, some still do, or they choose to carry its own Errors and Omissions Insurance as protection against possible losses that would result from non-title related issues.  Furthermore, title insurance underwriters are closely monitored by public authorities and are required to maintain substantial financial reserves.  The success of any title company is directly tied to the trust that clients put in its performance on each transaction, from start to finish: that their closing should be handled competently and securely; and, the client must be treated fairly and courteously. You should safely assume that your title company is working diligently to exceed those standards.

ReCap • • • • • •

Listings were up and sells were down slightly The results was a negative impact on inventory levels Foreclosures were up noticeably This is likely a result of the moratoriums banks implemented in 2010 Interest rates are still great but rising We will likely see an increase in the number of Bank Owned Properties sold this year

Likely Scenario

We Don’t Succeed Unless You Do! Empire Title of Colorado Springs 5755 Mark Dabling Blvd. Ste 110 | Colorado Springs, CO 80919 Phone: (719) 884-5300 Fax: (719) 884-5304

Empire Title of Woodland Park 509 Scott Avenue | Woodland Park, CO 80863 Phone: (719) 686-9888 Fax: (719) 686-8208 **As a settlement provider, you are under no obligation to send any future business to any sponsors from this event.


Colorado Springs Real Estate Journal

• Sellers will be competing against the Bank Owned Properties who are pricing the properties to sell quickly • Increasing interest rates will eliminate some buyers from the market • Sellers will need to price their properties aggressively and be in great condition • Buyers will find deals but must pay attention to interest rates • Low end buyers who do not pay attention to raising rates will be eliminated from the market • All other buyers looking for the deal will lose money as rates continue to climb

Conclusion • Sellers must price their properties right and have property in great condition • Buyers must buy now to protect their interest rate Bill McAfee is President of Empire Title of Colorado Springs. This information is deemed reliable but not guaranteed.

February 28, 2011

Around the Corner March Thursday, Mar 3 B.L.E.E.P. (Black Forest & Eastern Marketing Group) 8:30am – 10:00am The Grill at Latigo Trail Equestrian Center Roxene, 495-6213

Friday, Mar 4 Pikes Peak Exchangers 8:00am – 9:30am Valley Hi Golf Course Restaurant Johnny Revious, 719-527-8838

Wednesday, Mar 9

Friday, Mar 11

Thursday, Mar 24

Southern Delivery System Tour 8:00am – 3:30pm @ Conservation and Environmental Center, 2855 Mesa Road Kathy Wood at Colorado Springs Utilities: 719-668-8083 or

Pikes Peak Exchangers 8:00am – 9:30am Valley Hi Golf Course Restaurant Johnny Revious, 719-527-8838

Farm and Land 8:00am – 9:30am @ Maggie Mae's Jim Crossey, 719-579-0404

Class: GRI Sales Contracts 8:30am – 3:30pm @ PPAR Training Room Register at

Empire Title Direct Connect with David Knox and Marcia Waters 8:00am – 1:00pm @ Mr Biggs Event Center RSVP: 884-5300,

Thursday, Mar 17 Pikes Peak Marketing Forum Pitch Your Listing 8:00am – 9:30am @ Colo Springs Country Club Ruthie, 719.492.3998

Thursday, Mar 10

Class: GRI Listing Contracts 8:30am – 3:30pm @ PPAR Training Room Register at

Tuesday, Mar 8 Realtor Rally 7:30am – 4:30pm @ Colorado Convention Center, Denver

Farm and Land 8:00am – 9:30am @ Maggie Mae's Jim Crossey, 719-579-0404

Friday, Mar 18

Tri-Lakes Marketing Forum 8:30am – 10am @ Inn at Palmer Divide Kim Rossbach: 719-534-7444

Pikes Peak Exchangers 8:00am – 9:30am Valley Hi Golf Course Restaurant Johnny Revious, 719-527-8838 Class: GRI Finance in Real Estate 8:30am – 3:30pm @ PPAR Training Room Register at

Women's Council of Realtors 11:30am – 1:30pm Embassy Suites Hotel Renate Carrier, 888-313-5928

Friday, Mar 25 Pikes Peak Exchangers 8:00am – 9:30am Valley Hi Golf Course Restaurant Johnny Revious, 719-527-8838

April Friday, Apr 15 (thru Sun) HBA Home & Garden Show 10:00am – 7:00pm (4pm Sunday) Barnes Market Place

Email your

* Events subject to change. Please check with event/class holders for more detailed information inlcluding cost and registration dates.

Please Remember... Kathleen "Kay" J Eisenhour, REALTOR with ERA Shields Real Estate 12/26/1938 – 2/18/2011 Kathleen "Kay" Joan Eisenhour, 72, was born December 26, 1938 in South Bend, Indiana to the late Herbert and Mary (Scheidl Powell) Burns. Kay had an older brother Charles Burns who also preceded her in death. A thirty-four year Colorado resident, Kay enjoyed a long and rewarding career in the real estate

profession. Most recently her work family was with ERA Shields where she received many accommodations for her achievements in sales and services throughout the community. Kay was a member of the Broadmoor Community Church and also a bible study group member with another church in the community. Survivors include her loving daughter Camille and husband Gary Santora; grandchildren Brittany, Robert and Hailee; great-grandchildren Dartanyan, Shiann and Rico Doss; and niece Joann Burns as well as a host of extended family and friends.

Gerald Fay Caraveau, REALTOR with RE/MAX Advantage 11/24/1939 – 2/17/2011 After over ten years of treatment for Chronic Lymphocytic Leukemia (CLL) we lost our dear friend on February 17, 2011 at age 71. Gerald ‘fought the good fight, finished the race, and kept the faith’ and is now with our Lord and Savior Jesus Christ. Gerald was born in Powell, Wyoming on November 24, 1939 to Fay A. Caraveau and Gertrude L. (Ilse) Caraveau who preceded him in death.

He kept in touch with his class from Powell High School since graduating in 1958. He attended the University of Wyoming on a wrestling scholarship and graduated from Oklahoma State University with a BS in Education and a Masters Degree in Science. He taught seven years in Carlsbad, New Mexico before moving to Colorado Springs where he taught briefly before entering the Real Estate Industry. He was in real estate for 39 years in Colorado Springs, 19 of which he was Broker/ Owner of All West REALTORS®. He sold his company and joined RE/MAX Advantage in 1998 as Broker/Manager and Sales Associate. He retired from RE/MAX Advantage in December, 2010.











Thank you for working with us. At Heritage Title Company, we’re committed to providing the very best in Title and Escrow services in Southern Colorado. We offer a wide array of technologically advanced products that will assist you during every phase of the Real Estate process. Add to that our knowledgeable and professional staff and you’ve got a successful formula for a smooth transaction. Tiffany Square We look forward to working with Pueblo you.


104 South Cascade, #102 Colorado Springs, CO 80903 phone 719.475.8800

6805 Corporate Drive, #120 Colorado Springs, CO 80920 phone 719.592.9933

3673 Parker Boulevard, #130 Pueblo, CO 81008 phone 719.546.1801 February 28, 2011

Colorado Springs Real Estate Journal


Colorado Springs Real Estate Journal  

February 28, 2011

Colorado Springs Real Estate Journal  

February 28, 2011