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Vol. 5 No. 8

April 29, 2013

Number of improving housing markets holding steady in April Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, with 273 metros on the National Association of Home Builders/ First American Improving Markets Index (IMI), released today. This total reflects a net reduction of one market since March and again includes entrants from all 50 states and the District of Columbia. The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits,

employment and house prices for at least six consecutive months. Five new markets were added to the list and six markets were dropped from it this month. Newcomers included the geographically diverse locations of Macon, Ga.; Portland, Maine; Rocky Mount, N.C.; Eugene, Ore.; and Jackson, Tenn. “The stability in the improving markets list this month is encouraging, with three quarters of all metros tracked by our index considered on the upswing as the housing recovery spreads to parts of

every state,” said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “In some markets, the main thing that’s holding back a recovery is a relatively thin inventory of homes for sale, which could be resolved if builders had easier access to credit for building homes and putting people back to work.” “After a strong run-up through late 2012 and early 2013, the number of improving markets is holding steady at a high level,” said NAHB Chief Economist David Crowe. “We can expect to see

Colorado's Improving Markets Include: • • • • • •

Boulder Colorado Springs Denver Fort Collins Grand Junction Greeley See Improving Markets | 3

FHA continues to get more expensive

Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the NAR®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.6 percent to a seasonally adjusted annual rate of 4.92 million in March from a downwardly revised 4.95 million in February, but remain 10.3 percent higher than the 4.46 million-unit pace in March 2012. Sales have been above year-ago levels for 21 consecutive months, while prices show 13 consecutive months of yearover-year price increases.

See Home Prices | 3

percent to 1.35 percent. In addition, the upfront mortgage insurance premium is 1.750 percent. Another significant change for case numbers on or after June 1, 2013 is that on FHA loans where the loan-to-value exceeds 90 percent, the mortgage insurance will remain in effect for the life of the loan. This is a potentially significant additional cost for homebuyers. In contrast with FHA, private mortgage insurance (PMI) companies are becoming more competitive on pricing and terms. They are a viable option for homebuyers who can’t make a large down payment. Private mortgage insurance can be cancelled when the loan-to-value drops below 80 percent. Here’s a review of the general conditions for single family residences where private mortgage insurance can be cancelled and benefit the homebuyer. There may be individual circumstances where these rules don’t apply, but these are the general standards: • Under the Homeowners Protection Act (HPA), mortgage loan servicers must automatically cancel private mortgage insurance coverage on most loans

Tax Heaven: NAR President Blogs on Taxes

V.I.P Mortgage Gets Dirty

Chicago Title of Colorado Names New President




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March existing-home sales slip, prices maintain uptrend

As it looks more likely that the Federal Housing Administration (FHA) is going to need an infusion of cash from the Federal government for the first time in its history, the agency’s management is taking even more steps to stabilize its financial position to minimize the likelihood of any future taxpayer infusions. These changes have important impacts to homebuyers that By Jon Paukovich Ent could cost them more money in the long term. As an advocate for your clients, it’s important to understand the multiple financing options available to them. Many times an FHA loan is often seen as the first choice for homebuyers who have a low down payment; however, it may not be the best or least expensive option. FHA rates are very competitive, but the long term costs associated with FHA loans also need to be factored in to the decision. Effective April 1, 2013, the new annual mortgage insurance premiums for 30-year term FHA loans increased 0.10

Rose Kelly

Sr. Loan Officer

once the mortgage balance has been paid down solely by regular amortization (no principal pay downs) to 78 percent of the home value at the time of loan origination. The borrower must be current on their loan payments at the time the loan reaches this balance. If they are not current, the servicer will leave the PMI in place but must remove it when the loan becomes current. • Also under the HPA, the borrower has the right to request PMI cancellation at the point the mortgage balance equals 80 percent of the original purchase price of the home, or the appraised value of the home at the time the loan was originated. Borrowers also need to have a good payment history to do this. A good history is defined as not being 30 days delinquent within one year of the request, or 60 days late within two years of the request. • Th e lender may require an appraisal or other evaluation (at the borrower’s expense) to ensure the value hasn’t decreased, and prove that there aren’t any subordinate liens on the property which reduce the homeowner’s equity.

See FHA | 5

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Housing starts rise on strength in multifamily in March Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau. The data show that total starts activity rose 7.0 percent for the month due entirely to a 31.1 percent increase on the multifamily side, while singlefamily production slipped 4.8 percent from a number that was revised strongly upward for the previous month. “Today’s report is a reflection of the solid demand that many areas are seeing for rental apartments as young people take that first step into the housing market, which is a very positive development,” noted Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “The numbers are also in keeping with our latest surveys that show single-family builders are experiencing some difficulties in keeping up with rising demand for new homes due to increasing construction costs and other factors.” Calling the latest data a “mixed bag” due to the opposite direction of single- and multifamily starts and a somewhat weaker amount of permit issuance, NAHB Chief Economist David Crowe said that nevertheless, the numbers indicate “a continuation of the slow, methodical march forward” that characterizes the housing recovery. He also noted that “The three-month

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moving average for single-family starts remained unchanged at 628,000 units in March – which is right on pace with NAHB’s forecast for a 25 percent gain in new-home production in 2013.” While single-family starts declined 4.8 percent to a seasonally adjusted annual rate of 619,000 units in March, this was entirely due to a substantial upward revision to the previous month’s data, without which virtually no change would have been recorded. At the same time, multifamily housing starts surged 31.1 percent to a seasonally adjusted annual rate of 417,000 units – their fastest pace since January 2006. Three out of four regions posted gains in combined single- and multifamily housing production in March, with the



See Housing Starts | 9


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April 29, 2013

National News


Home Prices from 1

Foreclosures and short sales accounted for 21% of March sales.

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Improving Markets from 1 more gradual gains going forward as challenges related to increased demand kick in – including everything from tightened supplies of developable lots and labor to the rising cost of building materials.” “With 75 percent of the country seeing measurable improvement in housing market conditions, the outlook is definitely brightening for local economies this spring,” noted Kurt Pfotenhauer, vice chairman of First American Title Insurance Company. The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metro area must see improvement in all three measures for at least six consecutive months following those measures’ respective troughs before being included on the improving markets list. A complete list of all 273 metropolitan areas currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in April, is available at The above article has been provided to you compliments of the National Association of Home Builders. April 29, 2013

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Lawrence Yun , NAR chief economist, said there is more demand than supply in the current market. "Buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity," he said. "In the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices. The good news is home construction is rising and low mortgage rates are continuing to keep affordability conditions at historically favorable levels. The bad news is that underwriting standards remain excessively tight, while renters are getting squeezed by higher rents." Total housing inventory at the end of March increased 1.6 percent to 1.93 million existing homes available for sale, which represents a 4.7-month supply 2 at the current sales pace, up from 4.6 months in February. Listed inventory remains 16.8 percent below a year ago when there was a 6.2-month supply. "The inventory improvement last month results from a seasonal gain, but conditions continue to broadly favor sellers. We need a housing supply of over 6 months to have a generally balanced market between home buyers and sellers, but it's unlikely we'll get there without greater increases in housing construction," Yun said. The national median existing-home price for all housing types was $184,300 in March, which is 11.8 percent higher than March 2012. The March increase is the strongest since November 2005 when it rose 12.9 percent from a year earlier, and the last time there were 13 consecutive months of year-over-year price increases was from May 2005 to May 2006. Distressed homes - foreclosures and short sales - accounted for 21 percent of March sales, down from 25 percent in February and 29 percent in March 2012. Thirteen percent of March sales were foreclosures, and 8 percent were short sales. Foreclosures sold for an average discount of 15 percent below market value in March, while short sales were discounted 13 percent. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 3.57 percent in March from 3.53 percent in February; it was 3.95 percent in March 2012. NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said homes are selling much faster. "The typical home sold in March was on the market for one month less than it took to sell a year ago," he said. "Multiple bidding is becoming more common, and more homes are selling above the asking price, so buyers need to move quickly and follow their Realtor®'s advice for contingencies when making contract offers." The median time on market for all homes was 62 days in March, down from 74 days in February and is 32 percent below 91 days in March 2012. Short sales were on the market for a median of 81 days, while foreclosures typically sold in 46 days and nondistressed homes took 66 days. Thirty-seven percent of all homes sold in March were on the market for less than a month. First-time buyers accounted for 30 percent of purchases in March, unchanged from February; they were 33 percent in March 2012. All-cash sales were at 30 percent of transactions in March, down from 32 percent in February; they were 32 percent in March 2012. Individual investors, who account for most cash sales, purchased 19 percent of homes in March, down from 22 percent in February; they were 21 percent in March 2012. Single-family home sales slipped 0.2 percent to a seasonally adjusted annual rate of 4.32 million in March from 4.33 million in February, but are 9.1 percent above the 3.96 million-unit level in March 2012. The median existing single-family home price was $185,100 in March, up 12.1 percent from a year ago.


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Colorado Springs Real Estate Journal

April 29, 2013

National News

Tax Heaven: NAR President Gary Thomas blogs on taxes

As the U.S. Congress considers action on comprehensive tax reform, you can be sure that NAR is doing its best to protect the many long-standing tax incentives to home and property ownership. These include the following: • mortgage interest deduction • capital gains exclusion on the sale of a principal residence • deduction for mortgage insurance premiums on private mortgage insurance and FHA-backed insurance • state and local property tax deduction • carried interest on commercial real estate

rect up or down vote that affects only real estate. They may easily be tucked into the language on a larger bill, and things may move very fast when the time comes. Right now, we’re in the early stages of what we expect will be a long process. The House Ways & Means Committee and the Senate Finance Committee are holding ongoing meetings on the issues. As REALTORS®, we have a seat at the table and are sharing our views. We tell members of Congress and staff how necessary these incentives are for rebuilding the national economy. Since we’re in the midst of a fragile recovery, additional housing taxes would crush the real estate market just as it is poised to help lift us out of the economic doldrums. Our goal is to see that the tax code will continue to reflect the fundamental American value that homeownership helps build financial stability. Not only is this the right policy for housing, it’s also the best for families, for communities and the entire country. Our government tax policy should encourage homeownership while giving more Americans a chance for their little piece of heaven. Support NAR and keep real estate tax incentives alive!

We’re going to have to stay on top of the action. These are complicated issues that will not be settled with a di-

© Copyright National Association of Realtors. Reprinted with permission.

FHA from 1

borrower would need to contact their lender for the specific requirements. The new FHA requirements have the potential to be very expensive in the long run for a homebuyer, so it’s important to work with a lender who will review all of their options. There are many loan choices out there, but a knowledgeable lender will be able to review your

By NAR 2013 President Gary Thomas On April 15th, it’s a good time to remember something Will Rogers once said. He noted that, “the difference between death and taxes is death doesn’t get worse every time Congress meets.” ~ Thank goodness!


Sometimes the homebuyer would like to remove PMI based on a potential increase in the value of the home. There are several different requirements for this, but it can be done in various instances based on the seasoning of the loan and the amount of equity in the home. The

client’s unique situation and match them with the most affordable loan that meets their needs. Mr. Paukovich oversees the direction and management of mortgage lending, including loan servicing, at Ent Federal Credit Union. He can be reached at


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Colorado Springs Real Estate Journal

April 29, 2013

National News

Realtor Volunteering Works Program announces 2013 mentoring and grants recipients REALTOR® Magazine and the Good Neighbor Society have announced the recipients of the fifth annual Volunteering Works program, which matches Realtors® who work on small-scale charitable efforts with mentors and awards them grant money. The five winning Realtors® will receive a $1,000 grant and a year of one-on-one mentoring from a member of the Good Neighbor Society, whose members are past recipients of the annual REALTOR® Magazine Good Neighbor Award for volunteer service. “Realtors® value service and will go the extra mile to improve lives and the communities in which they live,” said National Association of Realtors® President Gary Thomas, broker-owner of Evergreen Realty, in Villa Park, Calif. “The Volunteering Works program gives Realtors® an opportunity to learn from mentors who will help define their paths for growth and success.” The Volunteering Works recipients were selected based on their dedication to the community through volunteer work and the potential for their charitable work to be expanded or improved with the help of an expert mentor. “Volunteering Works enabled me to send more packages to the troops, bring in a public speaker to meet with families on ‘Coping with Deployments’ and invest in raffle prizes that will be used at our annual fundraiser to create more income,” said Jennifer Wiles, a practitioner

April 29, 2013

with Real Estate Showcase, in Wooster, Ohio, and a 2012 Volunteering Works recipient. Wiles and her charity, Golden Bear Brigade, send packages to the men and women in the armed services who serve our country overseas. Her mentors, 2010 Good Neighbor Award winners Wendy and John Rocca, of Keller Williams Realty in Newton Highlands, Mass., implemented a cost-effective way of mailing care packages to the troops, which stretched her $1,000 grant even further. “Mentors use their years of experience to teach Volunteering Works recipients new fundraising techniques and help prepare them to prosper through any obstacles they may encounter,” said Craig Conant, Good Neighbor Society Advisory Council Chair and a 2001 winner of REALTOR® Magazine’s Good Neighbor Award. The 2013 recipients of the Volunteering Works grant and mentoring are:

guidance from her mentor, 2001 Good Neighbor Craig Conant, Key Realty Inc., Warrensburg, Mo., to implement an effective fundraising plan. Angel Lubeck, Liberty Realty & Appraisal Services, LLC, Dickson City, Penn. In 2011, Lubeck founded Finishing the Fight to support U.S. soldiers serving overseas. To date, she has organized two 5K races and has sent more than 450 care packages to troops deployed in Afghanistan. Her mentors are 2010 Good Neighbor Vito Pampalona, Vito

Anthony Homes, Rochester, Mich., and 2010 Good Neighbor Honorable Mention Mark Meinhardt, Star One Realtors®, West Chester, Ohio. Lubeck will look for guidance on how to increase public awareness and raise more money through her 5K events. Joan Rogliano, Rogliano Real Estate Group, Littleton, Colo. Rogliano founded Wildflower Women’s Foundation in 2010 to improve the lives of women who are struggling

See Volunteers | 8


Robin E. Greenberg, Prudential California Realty, Los Angeles Greenberg founded the C.A.R.E. Project (Compassion-Acceptance-Respect-Empowerment) in 2011 to encourage Realtors® to become more involved in the community. C.A.R.E serves a different charity each month, providing donations and volunteers to help people overcome their day-to-day struggles with food and shelter. Greenberg will seek

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National News Volunteers from 7 through difficult transitions of divorce or widowhood. The organization provides scholarships, legal advice and financial advocacy. Rogliano will seek guidance from her mentor, 2003 Good Neighbor Claudia Deprez, Illustrated Properties Real Estate, West Palm Beach, Fla., to increase visibility and build a stronger network of professionals to support women. Robert Schwartz, LaRosa Realty, Celebration, Fla. In 2011, Schwartz cofounded Celebration 34747 Cares, a nonprofit organization that supports 100 local schoolchildren whose families don’t have permanent

housing. The organization provides non-perishable weekend food packs and assists families who are transitioning to apartments in Osceola County. Schwartz will seek guidance from his mentor, 2006 Good Neighbor David Sonenberg, The Sonenberg Company, Roswell, Ga. Schwartz hopes to build a stronger network of volunteers and get help in seeking grants to improve fundraising. Amber Weitzer, Nathan Grace Real Estate, Dallas, Texas Weitzer, a member of The Princess Alexa Foundation, helps seriously ill children escape their realities of the hospital world by maintaining dress-up/play closets

and hosting parties at six children’s hospitals in the Dallas/Fort Worth area. Her mentor is 2009 Good Neighbor Honorable Mention Diana Croteau, Sun Mountain Properties, Williams, Ariz. Weitzer wants to learn how to access grant money to raise $300,000 to build a universally accessible playground. Volunteering Works is funded by The Stuart & Jill Siegel Charitable Foundation. To learn more about Volunteering Works or the Good Neighbor Awards, go to © Copyright National Association of Realtors. Reprinted with permission.

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Colorado Springs Real Estate Journal

April 29, 2013

In Depth

A Tale of Two Households By Elliot Eisenberg, Ph.D., GraphsandLaughs, LLC During the last year and especially the last five or six months, the economic data have been of two minds. On one hand, household net worth is way up, the stock market has been setting new highs and the number of millionaires is at 9 million, just below where it was before the recession. At the same time, we read that the amount spent at restaurants, bars, and department stores recently fell as households compensate for higher gas prices and payroll tax increases by reining in discretionary spending. Which is it? Is the economy getting better or are households hunkering down? Turns out, it’s both. Behind this seeming paradox is the growing gulf between America’s wealthier households and its poorer ones. And the past recession has put this gap into bold relief. While suffering during the Great Recession, wealthier households, because they are more likely to own equities and a home, have enjoyed the recent rise in house prices and the stock market, as well as the special year-end dividends that were timed to avoid tax increases that went into effect the first of this year. In addition, because they can borrow money at today’s historically low rates, they are spending more on vacations, cars and other high-end discretionary purchases as their financial situation improves. Moreover, over the last few years their incomes have been rising, something the majority of the population has not been experiencing. By contrast, households in the bottom half of the income distribution are having a tough time of it. The combination of stagnant wages in the years before the Great Recession, large job losses during

Housing Starts from 2 Midwest registering a 9.6 percent increase, the South posting a 10.9 percent gain and the West noting a 2.7 percent rise. The Northeast was the lone exception to the rule, with a 5.8 percent decline. Following a large gain in the previous month, total permit issuance fell 3.9 percent to a 902,000-unit rate in March. That decline reflected a 0.5 percent re-

the recession, current high levels of unemployment, the dramatic increase in those unemployed 12 months or more, high gasoline prices and delayed incometax refunds are forcing these households to forgo many purchases. As such, retailers that cater to lower and middleincome Americans are feeling the pinch. Worse, the payroll tax hike will probably take three or four months before its impact is fully felt. Fortunately, those in the top half of the income distribution are doing well and they pack a lot of retail punch. The top 20% of households account for 38% of all spending while the top 50% of all households account for 70% of all spending. By contrast, the bottom quintile is responsible for a tad less than 9% of all spending. And so far, higher income households have been carrying the load, with spending most recently rising at a month-over-month rate of 0.7%, the best level since a 0.8% gain in September 2012. Despite high-income households facing higher taxes due to the expiration of the Bush tax cuts and everyone facing the vagaries of the sequester, the economy is not on the ropes. A diet of dirt-low interest rates, a booming energy sector, and solid improvement in the all-important cyclicals including autos, big ticket items, business fixed investment, and most importantly homebuilding, should translate into increases in middle- and lower-class employment and (hopefully) wages, and thus more household spending among those doing relatively little of it now. Elliot Eisenberg, Ph.D. is President of GraphsandLaughs, LLC and can be reached at His daily 70 word economics and policy blog can be seen at

duction to 595,000 units on the singlefamily side and a 10 percent reduction to 307,000 units on the multifamily side. In contrast to the regional starts report, the Northeast was the only part of the country to post a gain in permitting activity in March, with a 24.7 percent increase to 101,000 units. Meanwhile, the Midwest, South and West posted declines of 2.1 percent, 6.2 percent and 10.4 percent, respectively.

© National Association of Home Builders. Reprinted with permission.

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Colorado Springs Real Estate Journal

April 29, 2013

Local News

SKLD Information Services to digitize all publicly filed real estate documents back to original land patent for 14 Colorado counties SKLD Information Services, a division of SKLD Title Service, Inc., has long maintained an extensive image library of publicly recorded real estate documents in-house and online at This comprehensive and accurate library of real estate documents covers fourteen front range Colorado counties which contains 85% of the state’s population. SKLD opened its doors in 1961 and is known as Colorado’s premier title plant and real estate information provider. In mid-2012 the company embarked on an even more ambitious project: to extend their online database and have documents back to original land patents immediately available to their customers. This scanning project, currently well past its midway point, involves converting over one hundred years of material and over 42 million pages of publicly recorded documents. SKLD anticipates completing this project near the end of 2013. “At the onset of the project, the majority of the documents prior to 1989 were stored in our in-house library, on microfilm,” said David Floyd, president of SKLD Information Services. “There were two problems. First, there was a time delay for our customer while they waited for our scanning team to pull the film, scan it and make it available to them. This didn’t offer the instantaneous response that we would like to provide. “The second – and ultimately more serious – problem is that microfilm isn’t necessarily permanent and can degrade over time impacting the quality of the copies. With digitization, these documents will be both instantaneously accessible and permanent. This project ensures the preservation of these public records” Besides the ease of use and having the county docu-

ments available on one website, the other major benefit allows individuals and businesses to work from anywhere 24/7. This gives them tremendous efficiencies in reduced time and travel to county offices. County sections currently completed – and available on by reception number and year or by book and page – include: • Adams County: 12/24/1947 to present; • Arapahoe County: 12/31/1947 to present; • Boulder County: 1989 to present; • Broomfield County: 2001 (date of county formation) to present; • Clear Creek County: 1989 to present; • Denver County: 1989 to present; • Douglas County: Patent (1864) to present; • Eagle County: Patent (1883) to present; • Elbert County: 8/3/1967 to present; • El Paso County: 1989 to present; • Jefferson County: Patent (1860) to present; • Larimer County: some in 1939 to 1977, 1977 to present; • Pueblo County: 1989 to present; • Weld County: 98% Patent (1864 Book 3) to 1929, 90% 1929 to 1962, 99% 1962 to present. Images not yet scanned are still available by request through SKLD’s internal Scan-On-Demand Department. As the scanning project continues the newly scanned documents are indexed and added to the existing SKLD online document database. On an ongoing basis the company purchases all newly filed real estate documents from county clerks and subjects the data to a rigorous verification process. Data is double-checked and verified and entered into SKLD’s database. It’s typically available within three days of be-

ing released by county clerks. In addition to website access, SKLD also offers customized reports, information and mailing lists regarding property information and analysis based on the information derived from the database. Among the reports and lists available are (1) New Homeowner direct mail lists providing all the new property owners in an area; (2) The Foreclosure package with information from the Notice of Election and Demands, Certificate of Purchases and Public Trustee’s Confirmation Deeds; (3) Lists of Federal, State or Mechanic Liens issued; and (4) Bankruptcy filings. (5) The Real Estate Lending Activity report details lender market activity in an area and provides information such as the loan amount volume, number of loans and type of loans during a specified period of time. (6) By matching or not matching Warranty Deed information with Trust Deed information, SKLD can produce lists which would determine new purchased homes, refinanced mortgages, second mortgages and owner carried mortgages. For more information, contact SKLD’s Sales Manager, Kerry Johnson at 303-695-3884; Account Executive, Carl Ashford at 303-6953883 or Sales Representative, Kelly Mulé at 303-695-3885. They will provide a free guest test-drive of the SKLDoc website or sample report.

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Colorado Springs Real Estate Journal


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Weichert, Realtors - Pikes Peak Group presented with 'Presidents Cup' Pikes Peak Group is pictured receiving the Weichert Real Estate Affiliates “President’s Cup” for 2012 production from the franchise organization’s President Martin Rueter. Induction into the President’s Club is one of the top three awards given to agents annually by Weichert Affiliates. Rueter traveled from Weichert® headquarters in New Jersey to make the presentation in person to Mike Berger and to present awards to four agents who earned Sales Achievement Awards for 2012—Marty Chase, George Jury, Gerry Lee, Bill Perry. All national awards are based on a minimum requirement in gross commission income or units earned for the year.

~Mary Thorne, Branch Manager, Academy Mortgage Marketing Services that can help you with creative flyers, “just listed, just sold” postcards, property profile home books, newsletters, customized FARM Leads and Mortgage Lender leads. On-site Title Department. The best way to serve our client’s needs is to keep our title department in house, not to join a “title production” service. We continue to set the bar with our commitment turn times. We now have our E-Commitments – with links to all of your title documents.

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Colorado Springs Real Estate Journal

April 29, 2013

Local News

Colorado Springs NARPM Hold 6th Annual Landlord Symposium The Colorado Springs Chapter of the National Association of Residential Property Managers held its 6th Annual Landlord Symposium at the Crown Plaza on March 28, 2013. Ray Scarabosio past national president of NARPM and principle broker of Jackson Group Property Management in San Francisco spoke on the topics of profitability in property management, held a interactive session called Any Day – Every Day, presented a list of property management Do’s and Don’ts and then presented a final session on technology and property management. Ray’s presentation was insightful and full of energy and laughter. Following Ray’s presentation

Mark Tschetter from Tschetter Hamrick Sulzer a Denver based law firm with local representation delivered a very informative session on Amendment 64 and Property Management, then opened up the floor to questions. The questions could have gone on for a very long time luckily for Mark his time allotment cut the questions short. Denny Snowdon another past national president of NARPM and owner of Select Property Enterprises Inc of Colorado Springs, then finished off the days presentations with ” Keep Your Head Up” a

presentation on dealing with the negative challenges all property managers face. Over 100 people attended the event and earned 7 hours of Colorado Real Estate Continuing Education Credit. In addition to the attendees 21 vendors presented there services at the event. The 7th Annual Landlord Symposium will be held in March of 2014. The Colorado Springs monthly chapter meeting is held the third Tuesday of each month at the Clarion at Bijou and I-25. For more information contact current Colorado Springs Chapter president Alex Yoder of Dorman Real Estate at 719-213-9100 x104.

Nearly 30 ERA Shields Real Griffis/Blessing's Multifamily Volunteer Day Estate professionals complete Griffis/Blessing's Multifamily Property Services For Salvation Army Pikes Peak (salvationgroup celebrated National Volunteer Month by particiadvanced training program pating in the company's first ever "Multifamily Volunteer armypikespeak.wordNearly 30 leading local sales associates with ERA Shields Real Estate recently completed the ERA® Top Gun Academy, an advanced home buying and selling training program offered by ERA Franchise Systems LLC. The ERA Top Gun Academy is designed to increase productivity by focusing on several skill areas essential to success in the industry. Each session builds on the individual's understanding of his or her customer and offers techniques for identifying and providing tailored, personalized customer service. "Top Gun training is designed to help real estate professionals to continually enhance the level of customer service they offer," said Cathrine Sullivan, Vice President of Operations and Finance with ERA Shields. "Our agents pursuit of this training is a reflection of their professionalism and commitment to offering their clients outstanding real estate guidance." Congratulations to the following agents for completing the ERA® Top Gun Academy: Gayle Caldwell Barry Cavanaugh Lynn Clancy Elizabeth Cobb Tammy Cockrell Dana Del Valle Holly Duckworth Rick Flaks Toni Hall Gardner

Diane Hamilton Cindy Hand Donna Hatch Doug Henderson Crystal Humphrey Virginia Johnson Colleen Meier Pete Olson Alan Rest

Day" this past Friday, April 12. Staff members from various sites spent their day working with non-profit organizations in lieu of their normal daily activities. Members of the Multifamily group donated their time and energy to one of four local organizations. For Care and Share Food Bank for Southern Colorado (, Griffis/Blessing apartment communities and employees held a food drive prior to the Volunteer Day event, allowing volunteers to provide nearly 200 pounds of food and a monetary donation in addition to helping sort and unpack food donations on the day of the event., volunteers spent their day at RJ Montgomery New Hope Center homeless shelter, working to help improve the child care center by building a new ramp into the playground area with supplies donated by Reconstruction Experts, Inc., helping with sanitizing toys and performing general maintenance work around the center. For the Women's Resource Agency (www.wrainc. org), volunteers sorted donations, swapped spring and

See Volunteer Day | 14

Oldest. Best. Period.

Dave Robbins Mark Rudolph Tyra Sandoval Eric Scott Dorrie Stewart Bianca Taylor Karol Vander Ploeg Shannon Wilder Su Young

Shea earns Certified Aging-inPlace Specialist designation Charlie Shea of C. R. Shea Homes, Inc. has completed the Certified Agingin-Place Specialist educational course and earned the right for the CAPS designation. The CAPS course identifies Shea building procedures and Universal Design needed to accommodate the fastest growing segment for future building needs of the Baby Boomers. Greater than 25% of the US population is 50+ years old and the majority of these people are active and living longer than ever before. Charlie Shea has been in the new home building industry his entire working life and constructing beautiful homes in Colorado Springs since 1985. Charlie has been an active member of the CS Housing & Building Association for over 20 years and served several times on the Board and many other committees. Charlie and his wife Nancy both hold the CGP designation as well. Certified Green Professionals incorporate green building principles into their homes while maintaining a competitive edge in the market. Builders who hold the CGP, CAPS and other designations must agree to meet ongoing continuing education requirements enforced by the National Association of Home Builders. April 29, 2013

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Colorado Springs Real Estate Journal




Local News

V.I.P. Mortgage, Inc. gets down and dirty for charity

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Changing the way society views the mortgage industry, V.I.P. Mortgage, Inc. continues to sponsor local events to give back to the Colorado Springs community. V.I.P.’s most recent sponsorship was a team for the Dirty Girl Mud Run in Colorado Springs on April 13, 2013. The team consisted of three V.I.P. employees (Stephanie Saunders, Stephanie Jacobs and Alysha Busch), three Colorado Springs realtors, ( Jennifer Lohrig, Kelly Moriarty and Anali Siegle), and eight members from the Fort Carson, Mountain Post Spouses Club; equaling 14 team members total. The morning of the race, team Boob’s Deep arrived proudly wearing bright, rainbow colored tutus and neon pink t-shirts for the event. At 10:45am, the team began their battle over Colorado Spring’s terrain, walls, nets and MUD!

The day of the race consisted of fog and lower temperatures but the team pushed forward. “The first mud obstacle we went through definitely was shocking; it was cold but afterward, we just got used to it.” said Stephanie Saunders, Operation Manager of V.I.P.’s Colorado Springs office. A few feet away from the finish line was the last mud pit of the race. Team Boob’s Deep, no longer in clean, brightly colored clothing but now covered head to toe in mud, entered the pit as a single unit and exploded with celebratory excitement as they crossed the finish line together. The Dirty Girl Mud Run is a 5K obstacle course that supports the National Breast Cancer Foundation. All registration proceeds go to the NBCF. The course was located at Ram Off-Road Park, east of HWY 94.

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fall collections off the retail floor and organized the clothing supply for the organization's "Suit Up for Success" program, which provides business and professional clothing to help women in need live with financial independence. And finally, for Christmas Unlimited (, volunteers put together "Imagination Kits" which the organization will distribute during Christmastime to help inspire local children's imaginations. "We're very proud to support these organizations," said Patricia A. Stanforth, CPM®, Senior Vice President of Griffis/Blessing Multifamily Property Services. "Working with them during our Volunteer Day was an incredibly rewarding experience. I would also like to say a big 'Thank You' to all of our employees who volunteered their time." In Denver, Griffis/Blessing will be volunteering with the Apartment Association of Metro Denver's "Spring Clean" day on May 10th, performing maintenance and general upkeep for Family Homestead's Transitional Housing program, which helps transition homeless families into apartment homes in the Denver area.

Colorado Springs Real Estate Journal

April 29, 2013

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Colorado Springs Real Estate Journal


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Colorado Springs Real Estate Journal

April 29, 2013

Local News

Reunion Homes opens new model homes in Lorson, Wilshire Ranch Reunion Homes is pleased to announce the grand opening of their two new model homes in Colorado Springs! The Cascade in Lorson Ranch – This traditional two-story home is now open at 6925 Alliance Loop off Marksheffel and Fontaine. A Parade of Homes award-winning home plan, this freshly designed Cascade includes a grand-great room with extra large eat-in kitchen and study on the main level. The upper level

includes three roomy bedrooms with HUGE walk-in closets, large laundry room, and an incredible loft perfect for homework, entertaining, and more. To schedule your tour of this award-winning home, call Vanja at 719.392.4012. The Pikes Peak in Wilshire Ranch – The Pikes Peak is full of flexibility and is located at 2264 Reed Grass Way. This traditional two-story home features a spacious family room, an eat-in breakfast

nook, an impressive kitchen with butler’s pantry, and flex space for a home office or a formal dining room. The upper level of this home is awe-inspiring with a roomy loft with plenty of built-in space, three large bedrooms with equally awe-inspiring walk in closets, and a luxurious (yes we said luxurious) laundry room. To see this home for yourself, call Dzelal at 719.203.5448.

Pricing and availability subject to ch *Design Studio selections have not upgrades.

The Platinum Group, Realtors garners multiple awards at Leading Real Estate Companies of the World Conference

See Platinum | 18 April 29, 2013

Choice Location. Big Lots. Gorgeous Views. Affordable Elegance. You Call It A Wish List. We Call It Home. Set Your Sights on Promontory Pointe. Promontory Pointe in Monument, Colorado is the height of luxury. Affordable luxury. Which means if you’ve been waiting for the right new home to come along, now’s the time to jump up, pack your bags, and get a move on!

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Priced from the $280s Classic Homes – Stephanie Davis/Craig Esterle (719) 481-9828 Model Location: 15530 Short Line Court (80132) The Paradise ..................... 15777 Old Post Dr .............. Ranch, ....$426,629,...... May 2013 ....................................... The Cuchara...................... 15737 Old Post Dr .............. Ranch .....$422,996....... May 2013 ....................................... The Ashton........................ 15787 Old Post Dr .............. Ranch ....$456,281....... Ready Now!...................................

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The Platinum Group, REALTORS® was the recipient of multiple Leading Real Estate Companies of the World® Member Achievement Awards presented February 27th at the network’s Annual Conference at The Cosmopolitan of Las Vegas. The event was part of the network’s Conference Week, which attracted a sell-out crowd of nearly 2,000 top real estate professionals from 17 countries. The Platinum Group received Leading RE’s Member Achievement Awards for Outgoing Referral Production, Outgoing Sales Production and Incoming Conversion Rate. The referral award is presented to a member firm that has introduced the largest number of clients per sales associates to other affiliates within the network; the sales award is presented to the member firm that has introduced clients to other affiliates resulting in the highest number of closed transactions per sales associate; and the award for the highest incoming conversion rate is presented to the member firm with the highest incoming conversion rate based on closed transactions resulting from client referrals received from other affiliates. Additionally, Platinum was honored with the prestigious 2012 Crown of Excellence Award recognizing the firm with the highest level of relocation performance overall within their company-size category. “Earning a Member Achievement Award is a true distinction, signifying an exceptional level of real estate expertise and professionalism,” LeadingRE President/CEO Pam O’Connor said. “To be acknowledged among this elite group of market-leading firms is a notable accomplishment, and we are delighted to honor The Platinum Group for being among the top real estate firms in the world. And to be the recipient of multiple awards is truly an amazing accomplishment.” The Platinum Group, REALTORS® was selected for membership in Leading Real Estate Companies of the World®, a

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Colorado Springs Real Estate Journal


Local News

V.I.P. Mortgage, Inc. sponsors The Home Front Cares Courtney Kline, branch manager of V.I.P. Mortgage, Inc., announced the newest community outreach program to be launched by V.I.P. Mortgage, Inc. - the financial sponsorship of The Home Front Cares. “With over 50% of our home loans going to those with VA benefits, we felt it

was the right thing to do to partner with The Home Front Cares by donating $270.00 for every VA loan that closes with V.I.P. Kline Mortgage, Inc. in Colorado Springs, Woodland Park, and Canon City.” Kline said.

Financial contributions will begin with loan closings as of April 1, 2013. It’s estimated that over $4000.00 will be donated monthly to this outstanding organization. “We are so grateful for V.I.P. Mortgage, Inc.’s support,” said April Speake, Executive Director of The Home Front Cares.



Luxury living has come a long way in the past few years. But you don’t have to look hard (or far) to discover how much more home your money can buy in today’s competitive marketplace. Just come to Flying Horse. With five new, fully-furnished models, (and three new neighborhood village areas), we’ll show you the best and newest that contemporary Colorado living has to offer. Finished homes, ready for immediate move-in? Newly released homesites? Golf course views? You’ll find them right here—along with custom floorplans from award-winning builders, and a dizzying choice of lots in any of our eight neighborhood villages. And, all new homes come with Membership in The Club at Flying Horse—the crowning jewel in our much-celebrated community, and one of its most compelling features. So don’t wait. If you’re looking for a new direction in life, follow your impulses.

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2445 Veneto Way - The Village of Encore 3 bed / Study / 2.5 bath / 3 car garage $399,900 - Available Now - MLS #745221 Saint Aubyn Homes - (720) 320-4959

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1168 Old North Gate Road - The Village of Messina 4 bed / 4 bath / 3 car garage $434,269 - Available May - MLS #721644 Vanguard Homes - (719) 487-8957

Come to Flying Horse today. For more information on newly released lots – Call Flying Horse Realty (719) 886-4800 or visit the Flying Horse Welcome Center: 2409 Flying Horse Club Drive, Colorado Springs, CO 80921 PREFERRED COMMUNITY BUILDERS: *Bella Vita Custom Homes, *Classic Homes, Copperleaf Homes, Elevation Homes, *Goetzmann Custom Homes, *Hammer Homes, Majestic Custom Homes, *Saddletree Homes, Saint Aubyn Homes, Symphony Homes, *Vanguard Homes *Builders listed in italics showcase fully decorated model homes in Flying Horse. **Pricing and availability subect to change.


2015 Turnbull Drive - The Village of Verona 4 bed / 2.5 bath / 3 car garage $569,988 - Available Now - MLS #781871 Elevation Homes - (719) 237-8235

13497 York Creek Grove - The Village of Calistoga 4 Bed / 5 Bath / 3 Car Garage $649,000 - Available July - MLS #795286

“V.I.P. Mortgage, Inc.’s kindness will directly impact the lives of Colorado veterans and military families, helping them find the security and liberty they have fought to give us.”

Chicago Title of Colorado names James K. Hall new President Hall brings 20+ years of experience to the Chicago Title of Colorado team Chicago Title of Colorado today announced that James K. Hall has been named President. Mr. Hall will oversee all manageHall ment of personnel, production, financial results and market penetration for escrow and title related services. “Timing is everything, it is a great honor to join this already impressive leadership team”, noted James. This move comes as an addition to the current leadership team of Janice Schwab, Escrow Manager and Sandra Kuhlman, Sales Manager. Mr. Hall has an established and solid background in both title and escrow. Most recently as Senior Vice President, Ticor Title California and manager of their Commercial Division. James launched his title career after establishing himself as a commercial lender and construction loan specialist. James has held senior management positions for upwards of 15 years, of which 3 years were held in Denver, Colorado. Mr. Hall’s knowledge of real estate coupled with his time in the unique Colorado market will enhance Chicago Title of Colorado’s value proposition to their partners. “I thrive on the opportunity to identify the potential in others and help them establish long and short term plans to establish their goals” said James. Mr. Hall’s new role as President of Chicago Title Colorado will give him the platform to do what he does best through pairing the right client with the right title and escrow team.

Bella Vita Custom Homes - (719) 499-2122

13494 Drytown Grove - The Village of Calistoga 4 bed / 4 bath / 3 car garage $679,900 - Under Construction!

Platinum from 17



Colorado Springs Real Estate Journal

global network of 500+ market-leading, locally-branded firms producing over $234 billion in annual home sales. The network is represented by 4,600 offices and 140,000 associates in more than 30 countries worldwide. In addition, LeadingRE affiliates hold the Number One position in sales in nearly 40% of the top 103 U.S. markets, more than any national network. The Platinum Group can assist home buyers and sellers worldwide and can access LeadingRE’s full range of brokerage services. April 29, 2013

Local News An Advertorial:

Luxurious Century Communities condos ready to move in

149 for Woodmen Rd., then go east to Rangewood Drive, South to Saddlerock Rd., left on Saddlerock Rd., Right on Stone Bluffs Point, and the community will be on the left, follow signs to the sales center and to your new home.

The Sales Center is open Monday from 12 p.m. to 6 p.m., Tuesday through Saturday from 10 a.m. to 6 p.m. and Sunday from 11 a.m. to 6 p.m. For more information please visit, or call 303.426.0835.

builder me Ho




mountain views. Expect architectural distinction and premium functionality with recessed entry doors, rounded corners, bar height kitchen island countertops, a gas fireplace, covered patios, and luxurious master bathrooms. In-building garages are also available but are going fast! There is no better opportunity for homeownership in Colorado Springs, priced so attractively with so many included features and the assurance of a new home warranty than The Vistas at Nor'wood. Visit the Vistas at Nor’Wood today and experience the Century Communities difference. For over 13 years, the locally owned and operated builder has been helping Colorado homebuyers realize the dream of home ownership. Known for building quality homes in superior locations, Century has quickly become a Top 5 Colorado Homebuilder and Top 100 National Homebuilder. Visit today and see for yourself that beyond building a house, Century Communities delivers a home. The Vistas at Nor’Wood is located at 4790 Wells Branch Heights, #107, Colorado Springs, CO 80923. Take I-25 to exit

Color ad o’ s

Charming new homes in a friendly community with maintenance-free living are waiting to be discovered. Come to the Vistas at Nor’Wood by Century Communities in Colorado Springs today and claim one of several gorgeous condominiums ready for move-in within the next 60 days. The Vistas at Nor’Wood is a small, inviting enclave with a light and friendly atmosphere. You will enjoy meeting the neighbors at the community pool and spa which will be opening for the first time this summer. And if you are looking to step out on the town, the location cannot be beat. The Vistas at Nor’Wood offers easy access to Powers Boulevard and several other main thoroughfares. Enjoy convenient access to schools, shopping, outdoor recreation, major employment centers, and more. Visit today to tour one of 4 homes available this spring from $136,881 to $142,114. Don’t miss out on the rare opportunity of home ownership in a truly care-free community! The Vistas at Nor’Wood features 3 unique, 2-3 bedroom condominium designs from the low $100,000s. Homeowners will enjoy the loft-living feel, and most units provide amazing city or



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Colorado Springs Real Estate Journal



Now at Banning-Lewis Ranch!!

Home s Rea dy to Mo ve-In NOW !

Featuring: NEW LOTS available now! Ranch and 2-Story Homes from the Low $200s!! Contact us Today at 719-559-3770 Or Visit us At 8047 Briarthorn Lane Colorado Springs, CO 80951

*Prices, included features, availability and delivery dates are subject to change without notice or obligation. Measurements are approximate. Exterior elevations shown may vary from elevation built. See salesperson for details. Terms and conditions subject to credit approval, market changes and availability. Š D.R. Horton, America’s Builder, Inc. 2013


Colorado Springs Real Estate Journal

April 29, 2013

On the Move Julie Lopez Real Living Select Properties Please join Real Living Select Properties in welcoming a new agent to our team; Julie Lopez. Julie and her family moved from California 9 years ago. They love it here and are proud to call Colorado Springs their home! She and her husband have been married for 23 years and have two grown children who now have successful careers of their own. Her background is with non-profit organizations. Julie is excited to enter into the world of Real Estate. She looks forward to helping people and is committed to using honesty and integrity in her business. She feels the only true measure of her success in Real Estate will be her client's happiness and satisfaction with her performance.

MacRae, Dommer ERA Shields Real Estate Terry MacRae is a 30-year resident of the Colorado Springs area – a transplant from California. She has a background in the high tech industry, having been a human resources administrator, facilities manager, and telecom manager for several Fortune 500 companies. In 2004 she formed a Virtual Assistance business, partnering with small business owners across the U.S. with their websites, shopping carts, marketing and more; she has also been successful leading a team of representatives associated with the Direct Selling Association. Terry has also been involved in the interior design field for years and is certified through APSD®, Association of Property Scene Designers, as a professional stager. She provides sellers with the total package. She can “dress your home for success and sell it too!” Megan Dommer has joined the ERA Shields Real Estate Team as a Broker Associate in the Pikes Peak Region. She was raised in Corpus Christi, Texas and later lived in Chicago where she became a flight attendant for SkyWest Airlines. After a few years Megan moved to Col-

orado Springs to begin a family of her own. Her decision to join ERA Shields was unanimous as her home buying experience through Shields exceeded her expectations. She is excited to start her new career in Real Estate and looks forward to serving the local community.

Carbonell, Wagner Merit Company, Inc. Mayra Carbonell: I was born and raised in San Juan, Puerto Rico. I have been part of the Colorado Springs community for 22 years. I began my real estate career in 2006. Prior to my career, I worked in different fields. First, as a paralegal for a prestigious law firm in Puerto Rico. Once in Colorado, I worked as an administrator/ manager for a large local storage facility, specializing myself in giving excellent customer service to my clients. I have also worked in the auto insurance field. As a Puerto Rican native, and being fully bilingual, I pride myself in assisting the Spanish community with their biggest decision of their lives, their home. When not working, I enjoy very much dancing to all the Caribbean beats, especially, salsa. I love music! I enjoy reading and working out, when time permits. I look forward to the opportunity to earn your business! Buy or sell, I am here to help! “Le ayudamos con todas sus preguntas de bienes raices”! Kristi Wagner: I was born and raised in the great state of Tennessee, making me a country girl at heart. My husband and I both severed in the military, me in the Navy and my husband currently in the Army. When we have time, we love to hunt, fish, and enjoy everything the outdoors has to offer. When we are not outdoors, we spend time with our children and grandchildren.

Stowell, Berle, Pickett Keller Williams Partners Sarah Stowell: We are pleased to an-

nounce the newest member of the Keller Williams Partners Family, Sarah Stowell. Sarah offers a Bachelors Degree in Interdisciplinary Studies. She worked for six years as a Victim Advocate and Diversion Counselor before joining the world of Real Estate. She is very active and loves training with her triathlon team, playing Brazilian Capoeira and volunteering with Teller County Search and Rescue. Ericka Berle: Keller Williams Partners is pleased to welcome Ericka Berle into our family. Ericka is a new agent, but has experience in real estate investing. She has lived in Colorado for six years and takes advantage of the beautiful landscape. She is a mountain biker who enjoys the climb more than the downhill. Sylvia Pickett: Please welcome Sylvia Pickett to the Keller Williams Partners Family. She is brand new to Real Estate and is excited to begin her career. She has lived in Colorado Springs for four years is amazed by the beautiful mountain views. She loves being a mom and enjoys spending time at home with her two-year-old.

In 1997, Tom moved to Colorado Springs with his wife beautiful wife Lacene of twenty five years and their two children. He is community servant as he is active with the Lions Club, Softball, and is currently the President of the School Board for Fountain Fort Carson School District Eight. Brian Bridgeford joined the Downing Group team in June 2007 when he retired from the Air Force after serving his country for more than 27 years as a Firefighter. Brian enjoys meeting people and you'll be hard pressed to find an agent with more enthusiasm or more positive attitude than him. From the first time you meet Brian, you will feel at ease with his professional and personable working style and confident in his ability to represent your best interest throughout the Real Estate Transaction. He is exclusively dedicated to serving his clients' needs by working hard and working smart and is committed in both time and effort to take you from the beginning to the end of your Real Estate transaction with attention to every detail. Working with Brian, you can expect honesty with the highest standard of integrity! Your House, Your Home, Your Dream.

Alice Sweatman Nextage Pikes Peak Properties

Downing, Bridgeford The Platinum Group, Realtors Tom Downing has been a full-time Realtor since 2003 and is proud to be part of The Platinum Group, REALTORS! Tom is an Accredited Buyer’s Representative (ABR), Certified Distressed Property Expert (CDPE), and Quality Service Certified QSC. He takes the time to really understand his clients’ needs and goals and works, to educate them as part of the process of finding them a home. His confidence and capability puts him clients at ease. Customer service is him first priority. He enjoys spending time with him clients, often developing longterm friendships with them. Tom graduated from Wayland Baptist University with a Bachelors Degree in Business Administration. He also completed his Master’s Degree in Organizational Management from the University of Phoenix. Tom served as a fire fighter in the Air Force for twenty years, and moved several times so he is an expert in helping people with their relocations!

I am excited be a part of Nextage Pikes Peak Properties- and also a new paradigm in Real Estate! I have been a Realtor® since 1995 having been first licensed in WV, before moving to Colorado Springs in 2004. I grew up in Tanzania, E. Africa, of pioneer missionary parents, and cherish my upbringing in a godly family. I became an RN and eventually a director of a Home Health Agency before changing careers and entering the real estate field. Similarities in the medical and real estate field are many, believe it or not, because one always has to interact with people with needs, often on the spur of the moment! I have designations of ABR, GRI, CHRE, and SRES and enjoy working with people of different backgrounds. My husband Tom and I have been married over 50 years and have 3 sons and 8 incredible grandkids who share our time and love.

CommerCial & residential

New Garage Door Sales & Service Visit our showroom at 2812 n. Prospect st.

Call for Realtor Special ® April 29, 2013


Colorado Springs Real Estate Journal




“Two out of three ain’t bad” Quarter over quarter review Quarter over quarter review

The number of sales is at a pace we hadn’t seen since 2008 ...

By: Bill McAfee, President of Empire Title of Colorado Springs, LLC

Buyers who are sitting on the fence today are waiting for a sign. The number of sales is at a pace we hadn’t seen since 2008... They want to make sure they are buying at an optimal time; they Buyerswant who are sittingprice; on the they fence want today are waitinginterest for a sign.rates; Theyand, want they to make sure they are buying at a great fantastic Number of Sales an optimal time; they want a great price; they want fantastic interest rates; and, they want what they want. In want what they want. In other words, they want it all and they want other words, they want it all and they want it now. it now. Previous 12 Month Average Today’s real estate real market has home prices wehome haven’tprices seen since on the way down and 2005 on the way Today’s estate market has we 2009 haven’t seen 1,200 up. Interest rates are historic lows ...and 2005 on the way up. Interest since 2009 on atthe way down By Bill McAfee rates are at historic lows... Empire Title —

Freddie Mac 30 Yr. Fixed Rate Mortgage



600 20.0%

400 18.0%




0 Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 May-10 Feb-10 Nov-09 Aug-09 May-09 Feb-09 Nov-08 Aug-08 May-08 Feb-08 Nov-07 Aug-07 May-07 Feb-07 Nov-06 Aug-06 May-06 Feb-06 Nov-05 Aug-05 May-05 Feb-05 Nov-04 Aug-04 May-04 Feb-04 Nov-03 Aug-03 May-03



as they have ever been? in today’s market of $250,000-and-below can buy at prices 7.5% higher than the botThis brings us to Buyers the number of listing available and thehomes sales pacethatatarewhich homes tom and 11.6% lower than the peak. Buyers should also track where home prices are heading. Interest rates 6.0% are selling. Listings are arephenomenal at a 12-year and homes selling at the pace in offive but havelow trended up since Octoberare of 2012. This leads us tobest the final question “Can they get what they want?”especially in the $250,000-and-below market. Buyers years. This has created a shortage 4.0% In thefilower end itwhat is becoming more and more difficultof to find what you want as theinventories demand is out-pacing a hard time nding they want because very low listing 2008 are and having 2009 were abysmal years inarereal Real Estate prices were dropping like a rock the finansupply. We evenestate. hearing phrases like: bidding wars, multiple offers, and homes under as contract in hours. 2.0% which are up.canWe areprices, seeing multiple off ersinand gowant under conMar- 2013 cial meltdown Jan - 1971 hadbeing taken scooped its Buyers toll. Prices bottomed out 2009rates, andand again 2012. Theyou reason had two you get fair greatininterest hopefully thehomes features inwe a home. As the songbuyer says, “Two out ofItthree ain’t bad”. tractbecause in days,ofnot weeks or months. lows was the home credit. falsely stimulated the market in 2010 and 2011. A buyer in Active listings are lower than we have seen in a decade... Buyerscan in see today’s market of $250,000-and-below homesheatorprices areat a today’s market the bottom in the not too distant past, and can havebuy confidence she is that buying Remember: conditions vary in price ranges and location. Sellers should evaluate all factors when selling a Active listings are lower than we have seen in a decade... price 7.5% that flushed the peak prices. higheroutthan thehome bott and lower than peak. andom realize that11.6% rates, pent-up demand and the lack of supply Buyers are driving should the market.also Worldtrack events can change dynamics relatively quickly. The $750,000-and-above market has inventory levels that are in some are heading. Interest rates are phenomenal but haveis still trended up Whenwhere we lookhome at the prices past, interest rates something weThis have to take demand andand cases three timesare higher than normal. is where three note out of of. three Due IS bad.toItforeign a buyer’s market Active Listings since October of 2012. Th is leads us to the fi nal question of “Can they get what they sellers will have to price aggressively and have the property in great condition. government manipulation our interest rates are at historic lows. How long can they stay there? Why would want?” anyone take a chance when rates are as low as they have ever been? Previous 12 Month Average In the lower end This brings us to the number of listing available and the sales pace at which homes are selling. Listings are at 7,000 it is becoming more YTD 2012 a 12-year low and homes are selling at the best2013 pace in five years.vs. This has createdYTD a shortage especially in and more difficult to Buyers are having a hard time finding what they want because of very low the $250,000-and-below market. 6,000 nd what which you want listingfiinventories are being scooped up. We are seeing multiple offers and homes go under contract in as the demand is out• Average Price 8.7% days, not weeks or months. 5,000 pacing supply. We are • Median Price 14.5% 4,000 even hearing phrases • Residential Units Sold 28.1% like: bidding wars, 3,000 • Inventory Levels 16.5% multiple offers, and homes under con• Number of Listings 6.6% 2,000 tract in hours. Buy• Foreclosures 36.2% 1,000 ers you can get fair • Interest Rates are at historic lows prices, great interest 0 rates, and hopefully the features you want in a home. As the song says, “Two out of three ain’t bad”. Remember: conditions vary in price ranges and location. Sellers should evaluate all factors when selling a home and realize that rates, pent-up demand and lack of sup2008 and 2009 were abysmal years in real estate. Real Estate prices were dropping ply are driving the market. World events can change dynamics relatively quickly. The like a rock as the financial meltdown had taken its toll. Prices bottomed out in 2009 $750,000-and-above market has inventory levels that are in some cases three times and again in 2012. The reason we had two lows was because of the home buyer credit. higher than normal. This is where three out of three IS bad. It is still a buyer’s market It falsely stimulated the market in 2010 and 2011. A buyer in today’s market can see the and sellers will have to price aggressively and have the property in great condition. bottom in the not too distant past, and have confidence he or she is buying at a price that flushed out the peak prices. When we look at the past, interest rates are something we have to take note of. Due Bill McAfee is President of Empire Title of Colorado Springs. This information is deemed reliable but not to foreign demand and government manipulation our interest rates are at historic lows. guaranteed. How long can they stay there? Why would anyone take a chance when rates are as low 8.0%

Feb-13 Nov-12 Aug-12 May-12 Feb-12 Nov-11 Aug-11 May-11 Feb-11 Nov-10 Aug-10 May-10 Feb-10 Nov-09 Aug-09 May-09 Feb-09 Nov-08 Aug-08 May-08 Feb-08 Nov-07 Aug-07 May-07 Feb-07 Nov-06 Aug-06 May-06 Feb-06 Nov-05 Aug-05 May-05 Feb-05 Nov-04 Aug-04 May-04 Feb-04 Nov-03 Aug-03 May-03

 




5755 Mark Dabling Blvd., Ste 110

350 N. Pine St., Woodland Park, CO 80863

Colorado Springs, CO 80919

P.O. Box 9004, Woodland Park, CO 80866

Phone: (719) 884-5300 - Fax: (719) 884-5304

Phone: (719) 686-9888 - Fax: (719) 686-8208



    

Colorado Springs Real Estate Journal

April 29, 2013

Around the Corner Thursday, May 2

Wednesday, May 15

Masterminds Networking Group 7:30am – 9am @ Canon National Bank RSVP to David Alley, 719-632-3526

New Agent Seminar 9am – 12pm @ Empire Title 719-884-5300

B.L.E.E.P. (Black Forest & Eastern Marketing Group) 8:30am – 10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213

Wednesday, May 8

Thursday, May 16 Commission Update 8:30am – 12:30pm @ Empire Title 719-884-5300

Sat-Sun, May 18-19

Intermediate eContracts 10am – 12pm @ Empire Title 719-884-5300

HBA Home Show 10-6 Sat, 11-4 Sun @ Freedom Expo Center

Thursday, May 9

Tuesday, May 21

Renav Services Leads, Market Reports & Tools 2:30pm – 4:30pm @ Empire Title 719-884-5300

PPAR YPN 80's Party 4pm – 7pm @ Blondie's Rooftop Bar

Monday, June 3 HBA PAC Golf Tournament 12pm – 6pm @ Kissing Camels Golf Club

Thursday, June 6 Masterminds Networking Group 7:30am – 9am @ Canon National Bank RSVP to David Alley, 719-632-3526

Farm and Land 8:30am @ The Peak Grille Greg Wolff: 719-590-1711

NARPM Meeting 11am – 1pm @ Clarion Hotel (314 W. Bijou) Alex Yoder, 719-213-9100

B.L.E.E.P. (Black Forest & Eastern Marketing Group) 8:30am – 10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213

Advanced Foreclosure 9am – 11am @ Empire Title 719-884-5300

Wednesday, May 22

Sat-Sun, June 8-9

Finding Deals Before, At & After the Foreclosure Auction 12pm – 2pm @ Empire Title 719-884-5300

HBA Remodeled Homes Tour Pikes Peak Region

Women's Council of Realtors 11am – 1pm @ Clarion Hotel (I-25 & Bijou) Michele: 719-633-7718

Thursday, June 20

* Events subject to change. Due to space, please check with event/class holders early for more detailed information on cost, CE credits, sponsors and registration dates.


us your



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April 29, 2013

Beautifully Designed, Undeniably Unique

Colorado Springs Real Estate Journal



For a Big


FO BAIT’S R 2 CK 01 3!

Announcing the 2013 Hooked on Classic Realtor Recognition Program. The “Hooked on Classic” Realtor Recognition Program is back by popular demand! And that means we’ll be paying out more than line when we say thanks to all of our hard-working sales partners out there for promoting our properties! With each qualified closing, we’ll be handing out cash. Cold hard cash, along with a handsome 4% commission. And as your closings increase, so will your bonuses—from $1,000 to $3,000! The catch? You have to qualify to participate. So don’t wait. Call or visit your nearest Classic Homes Sales Model today and get outfitted for the biggest adventure ever. Here’s how it works—by the numbers…

1st Closing 4% commission on base price and qualify for the Hooked on Classic Program. 2nd Closing 4% commission on base price + $1,000 Bonus 3rd Closing 4% commission on base price + $2,000 Bonus 4th Closing (and beyond) 4% commission on base price + $3,000 Bonus The 2013 Hooked on Classic program applies to all sales and closings for Classic Homes new construction and speculative inventory. Qualifying Realtors will have a chance at other special prizes throughout the year!

Featured Inventory ALL Ready For Quick Move-in!



Call 719-481-



15787 Old Po st Dr - $456,2 81 Ready Now! 4 bed, 4 bath , 3 car gar., 4,52 8 sq.ft. Ranch plan, MLS #786169 15648 Old Po st Dr - $414,1 96 4 bed, 3 bath , 3 car gar 3,748 sq.ft. R anch Plan MLS #748827



Call 719-495-


The Village O

f Enco

re 2445 Veneto Way – $399,9 00 Ready Now! 3 bed, study, 2.5 bath, 3 car garage 3,242 sq. ft. Ranch, MLS # 745221 The Village O

f Enco

re 13242 Penfold Dr - $523,803 4 bed plus st udy, 3 bath, 3 car gar., 4,65 9 sq.ft. Ranch, MLS # 722093 The Village O

f Turi

n 12737 Mission Meadows Dr - $374,909 3 bed plus st udy, 2.5 bath , 3 car gar., 3,24 2 sq.ft. Ranch , MLS# 728743


Call 719-282-

1650 6046 Harney Dr - $315,767 4 bed, 2.5 bat h, 2 car gar., 3,430 sq.ft. 2Story MLS#731238



7771 Renegade Hill Dr – $301,383 Ready Now! 4 bed, 2.5 bath, 2 car garage 3,443 sq. ft. 2-Story MLS #741101 6574 Diamond Hitch Dr $296,129 4 bed, 3 bath, 2 car gar., 3,287 sq.ft. 2-Story, MLS #754643

BANNING LEWIS RANCH Call 719-886-4995

7169 Spring Linden - $349,900 4 bed, 3 bath, 3 car gar., 2,302 sq.ft. 2-story, MLS #734812

MERIDIAN RANCH Call 719-494-1101

12579 Handles Peak Way - $275,896 4 bed, 3 bath, 3 car gar., 2,973 sq.ft. 2-Story, MLS #734127 10460 Mt. Columbia Dr - $277,002 4 bed, 3 bath, 2.5 car gar., 2,744 sq.ft. Ranch, MLS #787766


LORSON RANCH Call 719-390-6200

6869 Alliance Lp – $262,355 Ready Now! 4 bed, 3 bath, 3 car garage 2,911 sq. ft. 2-Story, MLS #768581 6854 Alliance Lp – $284,042 Ready Now! 4 bed, 3 bath, 2 car garage 3,176 sq. ft. Ranch 6885 Alliance Lp - $267,260 4 bed, 2.5 bath, 2 car gar., 2,770 sq.ft. 2-Story, MLS #740158 Program Terms and Conditions: 1) Hooked on Classic 2013 Bonus Incentives will be paid on all contracts originated between 1/1/2013 and 12/31/2013. Contracts must close to receive bonus. 2) You must be an active Colorado licensed real estate agent and must have actively participated in the sale, to include being present at the initial client meeting, contract signing, and other relevant homebuyer/builder meetings. 3) All bonus commissions will be paid at closing. 4) Employees of Classic Companies and Flying Horse Realty are not eligible for this program. 5) Bonus commissions are earned on an individual REALTOR basis, team sales are not cumulative. 6) Bonus incentives will be awarded to the individual agent listed on the contract. 7) Program subject to change without notice. *Pricing, availability, and program terms subject to change.

April 29, 2013  

Our April issue.

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