CSREJ - August

PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO

Vol. 8 No. 12

August 29, 2016

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Realtors® expanding wildfire education, mitigation efforts With active wildfires burning across the state, Colorado REALTORS® are expanding their efforts to educate homeowners about the dangers of wildfires, especially to those living in Wildland-Urban Interface (WUI) areas, through a program designed to help connect homeowners willing to mitigate their properties and reduce wildfire risks with information and resources in their local communities. The Colorado Project Wildfire website (coloradoprojectwildfire.com), provides residents with direct links to wildfire related organizations and resources that exist in specific communities across the state.

The Colorado Association of REALTORS® launched Project Wildfire in 2015 to help (1) raise awareness of the increasing danger of wildfires in our state, (2) to activate the Association’s net-

Study: Colorado ranks as #6 Best State for Homeowners SmartAsset’s latest study on the best housing markets for growth and stability showed three Colorado metro areas ranked in the top 10. Based on the data pulled for this analysis, they concluded that Colorado as a whole was a great place for people wanting to own homes. Colorado’s average effective property tax rate (0.58%) is among the lowest rates in the nation. Plus, we have the second highest rate of home price appreciation (per square foot).

SmartAsset wanted to rank the best states in America for homeowners. To complete their analysis, they considered nine different factors. Analysts ranked all 50 states based on factors including foreclosure rates, burglary rates and property tax rates. They looked at the median listing price per square foot, the annual change in home prices (per square foot), home affordability and the annual cost of property taxes and homeowners insurance.

displaced and more than $2 million dollars spent to date. With the state’s WUI areas expected to grow by 300 percent over the next 15 years, the wildfire threat and the number of people who will be affected are not likely to diminish.

Fire officials across Colorado have credited the mitigation efforts of some homeowners for the ability to save

work of 23,000 REALTORS® in providing information and support to homeowners living in high risk areas and (3) to advocate for monetary incentives for homeowners who take concrete steps to make their properties less at risk.

Last month firefighters in Colorado were battling the Beaver Creek, Cold Springs and Hayden Creek fires with a combined 31,500 acres ablaze, 2,000 people

See Wildfire Education | 4

© Copyright Colorado Association of Realtors. Reprinted with permission.

Two rival home inspector groups merge inspector,” says Frank Lesh, ASHI executive director.

ASHI is currently celebrating its 40th anniversary.

All home inspectors certified by ASHI are required to conduct inspections in accordance to the group’s Standard of Practice and Code

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Honest & Ethical Service from People You Know.

5333 North Union Blvd. Suite 100, Colorado Springs, CO 80918

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

Regulated by the Colorado Division of Real Estate, Corp NMLS #3113.

Chad Denny

Branch Manager

Debbie Havens

Sales Manager

Sharon Ballinger

Sr. Loan Officer

of Ethics. The standards aim to prevent inspectors from engaging in conflict-of-interest activities that might compromise their objectivity. ASHI inspectors also are required to undergo mandatory continuing education. © Copyright National Association of Realtors.

Reprinted with permission.

National News ........... Page Local News ............... Page On the Move ............. Page Local Expert ............. Page Around the Corner ...... Page

mobile Issue (Beta)

The National Association of Home Inspectors has announced it is going out of business and is combining its membership with the American Society of Home Inspectors. NAHI closed this month.

ASHI now boasts more than 7,700 members.

“This combined membership will give home owners, buyers, and sellers throughout the U.S. and Canada the opportunity to work with an ASHI

Edward Duncan

Will Michaloski

Marianne Elep Turner

Loan Officer

Loan Officer

Loan Officer

2 8 13 14 15

(719) 331-2750 chad.denny@academy.cc

(719) 380-1778 debbie.havens@academy.cc

(719) 491-2500 sharon.ballinger@academy.cc

(719) 264-1968 edward.duncan@academy.cc

(719) 232-7553 will.michaloski@academy.cc

(719) 264-1952 marianne.elepturner@academy.cc

NMLS #665068 State Lic #100037389

NMLS #653845 State Lic #100018256

NMLS #347297 State Lic #100019804

NMLS # 1383947 State Lic #100500423

NMLS #1058945 State Lic #100044854

NMLS #231308 State Lic #100029888

National News

Some rent-to-own agreements questioned Not affiliated with The Colorado Springs Business Journal

Colorado Springs Real Estate Journal LLC 4655 Fencer Road, Colo Spgs, CO 80911

director of Advertising Rachelle Nardo

rachelle@csrej.com

director of Publishing Josh Olson

josh@csrej.com 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 industryrelated professionals.

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. Email josh@csrej.com your submissions or questions.

719.439.0773

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In an effort to turn more of their renters into home owners, landlords are increasingly turning to rent-toown contracts.

But a recent investigation by The New York Times calls into question some rent-to-own agreements, arguing that some of these deals are risky, lack consumer protections, and may not even be enforceable in some states.

Smaller firms, in particular, are offering renters the opportunity to lease less expensive homes with an option to buy. But housing lawyers are reporting an increase in disputes involving rent-to-own transactions and are cautioning renters to read contracts carefully before they sign.

For example, in one recent case, the city of Columbus has filed a lawsuit against Vision Property Management. The company, which owns more than 5,500 homes nationwide, does not offer regular leases or mortgages but instead “rent to own” agreements that requires the tenants to make all repairs, no matter how big.

Some renters, however, later discovered building code violations and major problems with the homes they moved into. One renter told The New York Times he faced an $8,000 cost to install a new sewerage system. The renter says Vision helped him find a

contractor to make the repairs but then rolled the cost into a new contract, which then valued the property at $60,000. That also increased his monthly costs by $65 to $470 a month.

Vision maintains that it offers a “full and unconditional refund” to tenants within the first 30 days of a contract.

“Our goal is to put people into houses and turn renters into homeowners,” Landlord Alex Szkaradek told The New York Times. He says such rent-to-own agreements are helping those with poor credit to qualify for mortgages and obtain home ownership one day.

The recent New York Times investigation seems to dispute their lofty goal.

“Most tenants walk away with nothing, having sunk money for rent and repairs into homes they had once hoped to own,” The New York Times reports. “Others faced surprise evictions, having signed a contract that did not disclose what repairs were needed, yet set a deadline for making sure the home was up to local housing code. As different tenants move in and out of the same property over the course of years, many homes fall See Rent-to-own | 4

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National News MORTGAGE

PRE-APPROVALS

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Save.

Rent-to-own from 2 further into disrepair.”

“We’re seeing an influx in these contracts,” Katarina Karac, a city lawyer for Columbus, who is involved in one case the city has against Vision, told The New York Times. “It looks like a landlord-tenant relationship, except instead of having the landlord take care of the property, they are putting that obligation on the tenant.”

Some renters now say they were confused by the contracts’ terms and requirements when they signed them. They later find they are stuck with big, unexpected bills for repairs.

“They signed their leases and put down an initial payment to reserve the right to buy the house,” The New York Times reports. But “unlike most typical home purchases, rent-to-own contracts have no requirement to obtain an independent home inspection. The customers contend they were not informed of outstanding issues with Vision homes, many of which the company had bought for $10,000 or less.”

What’s more, if tenants leave before the end of the seven-year contract, they leave with nothing. They do not receive any credit for the money spent on repairs or renovations while they lived there. Buyers do not receive a legal title to the home until the last payment is made to the landlord. They still often need financing then to complete the deal.

Most states require landlords to keep homes and apartments they lease in habitable condition. Housing experts argue that such landlord obligations cannot be waived.

“If it’s a lease and they are claiming that none of the landlord-tenant obligations apply, then I would argue they have to adhere to federal truth in lending rules,” says Judith Fox, a professor of law at the University of Notre Dame. “You can’t have it both ways.” © Copyright National Association of Realtors. Reprinted with permission.

Send us your PHoToS!

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select homes and structures in this 2016 wildfire season.

“While it’s always so difficult to see the impact that wildfires have on our state and our fellow Coloradans, we’ve been encouraged by the news that mitigation efforts have helped alleviate possible damage and destruction of homes and help prevent loss of lives,” said Bonnie Smith, chair of the Colorado Association of REALTORS® Project Wildfire program.

“We will continue to be proactive in helping educate not only our members but the tens of thousands of Colorado homeowners that are living in these WUI areas, about the vast resources that are available in their local communities that can help them mitigate their properties and be prepared for the growing risk wildfires present.”

Since its launch, Project Wildfire has established partnerships with like-minded fire-prevention organizations, including the Colorado and U.S. Forest Service; Colorado Division of Fire Prevention & Conrol; Colorado Firewise Communities; West Region Wildfire Council, Fire Adapted Colorado and many more.

In addition, local REALTOR® associations throughout the state have launched complimentary programs

Colorado Springs Real Estate Journal

to activate their members in promoting awareness and mitigation.

“Colorado REALTORS® believe that education, combined with monetary incentives and access to local resources are the most effective ways to address future wildfire damage,” said Smith.

Earlier this year, CAR actively supported legislation which created a wildfire mitigation income tax deduction. That bill, adopted during the 2016 legislative session, allows for a tax deduction of 100% of the cost of mitigation, up to $2,500, over the next three years. The association believes the tax deduction will make it more attractive for many homeowners in high risk areas to mitigate their properties.

“Colorado REALTORS® are fully committed to protecting individual property rights and promoting the value of homeownership,” added Smith. “We’re confident that our proactive efforts to educate, advocate and match residents with local resources can help reduce or prevent the destruction of land, property and lives.”

For more information visit http://www. coloradorealtors.com/projectwildfire/ © Copyright Colorado Association of Realtors.

Reprinted with permission.

August 29, 2016

National News

New single-family homes are getting smaller The average size of new single-family homes is dropping, reversing an upsizing trend in residential construction. Builders say this is happening because their industry is taking more interest in the entry-level market and not just catering to the luxury sector any longer. A growth in townhomes, which are typically smaller than traditional homes, is part of the reason for the decreased size, builders say.

The median single-family square floor area dropped from 2,465 in the first quarter to 2,392 square feet in the second quarter, according U.S. Census data. The average square footage for new single-family homes dropped slightly from 2,658 to 2,616 square feet.

The builder’s trade group says home sizes are following a pattern for what typically occurs during and after

a recession. “New-home size falls prior to and during a recession as some home buyers tighten budgets, and then sizes rise as high-end home buyers, who face fewer credit constraints, return to the housing market in relatively greater proportion,” Robert Dietz, chief economist of the National Association of Home Builders, notes at the group’s Eye on Housing blog.

“This pattern was exacerbated during

the current business cycle due to market weakness among first-time homebuyers. But the recent small declines in size indicate that this part of the cycle has ended and size should trend lower as builders add more entry-level homes into inventory.” © Copyright National Association of Realtors.

Reprinted with permission.

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National News

The buzzwords that bump up a sales price Certain words included on the MLS public remarks section about your listing can help bring about a higher sales price than ads that don’t have any comments, finds real estate data firm CoreLogic.

The firm analyzed the public comments on 81,025 MLS-listed property sales between January 2015 and January 2016 in Los Angeles County.

Researchers then grouped the comments into three categories: location,

condition, and design. They found that keywords related to great locations, such as “overlook,” “step” (as in, steps to the beach), “hill,” and “park” sell for a higher final price than those that do not list such positive location attributes.

The study also found that in describing property condition words like “finish” and “best” tended to net higher sales prices. Also, in describing design, researchers found the fol-

lowing buzzwords: “slide,” “central” (central AC), “dual” and “Spanish” (Spanish style) to result in higher sales prices.

In general, the researchers concluded: “properties in good locations, under good conditions, and with desirable designs are more attractive than properties without these attributes.

These attributes are true measurements of the properties and, in many ways, contribute more to the prices

than expected by the sellers/REALTORS®, if marketed appropriately.” © Copyright National Association of Realtors.

Reprinted with permission.

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Colorado Springs Real Estate Journal

August 29, 2016

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Local News

WCR’s Annual Past President’s Luncheon

By Bella McClellan, Freelance Photographer & Journalist The Pikes Peak Chapter Women’s Council of Realtor’s® hosts their annual Past President’s Luncheon at Hotel Elégante this month. In addition to honoring these exceptional women, WCR highlights the retirement of PPAR’s President and CEO, Terry Storm, as well as its most honored guest, Mayor John Suthers.

As WCR prepares to transition to the ‘next generation’ of board members, it gives continuous thanks to its past presidents: Elaine Fox 19921993, Rosalinda Chaney 1999-2000, Jorgette Krsulic 2000-2001, Judy Carty 2004-2005, Lori VanDerWege 2005-2006, Barb Asbury 2006-2008, Donna Majors 2011-2012 and 20132014, and Kathy Tutko 2014-2015.

While not everyone was able to be

present for the photo op, we have from left to right: Tammy Marasia (WCR State Governor), Kathy Tutko, Donna Majors, Rosalinda Chaney, Barb Asbury, Jorgette Krsulic, Lori VanDerWege, and last but not least, Judy Carty. The hard work demonstrated by its members and affiliates shows during their proudest moments of being able to give back to our community.

WCR is excited to present a $538 donation check to the Colorado REALTOR® Foundation (CRF) during the event. Alan Lovitt (CAR Chair), Brandi Moore (CRF Executive Director) and Francie Martinez (CAR NE District Chair) accepted the check on behalf of the foundation. It was an ex-

citing moment for everyone as WCR was able to demonstrate their standard of excellence and community support with the donation. As you can see in the photo, it was a gratifying moment for everyone (from left to right): Dawn Grubbs (WCR Local President), Linda Schierholz (WCR Local Treasurer), Alan Lovitt (CAR Chair), Brandi Moore (CRF Executive Director), Francie Marinez (CAR NE District Chair), Laura Reed (WCR Local VP of Membership), Gabriele Onofre (WCR Local President-Elect ). Applause went around the room. This is a prime example of why it is such a benefit to join WCR, not only for the individual support membership offers but also for what can be given back to our local community. Another well-known example of giving back is seen in Terry Storm (PPAR President and CEO), who has given years of dedicated service.

An almost tearful farewell was given to Terry Storm, as he retires this year.

After 28 years of notable commitment to our com-

munity, he is ready to move on to new adventures. Although, he reassures us that he will not be out of the picture completely. Terry still plans on sticking around and participating in our local real estate community. His leadership skills, abilities in strategic planning and government have served our community well and will always be welcome. Apart from PPAR, Terry is also the Chairman of the Board of the USAF Academy Association of Graduates; where he graduated in ’61 (linkedin.com).

Last, but not least, is WCR’s most distinguished and honored guest speaker, Mayor John Suthers, who spoke on several key issues he is passionate about: the draft Stormwater Program Improvement Plan, 27 Lane Miles Paved and improvements being made to our outdoor recreation.

He spoke about the important role that taxes play in accomplishing these programs, as well as how the political climate affects our local real estate.

Bringing a fresh and eye-opening perSee WCR Luncheon | 11

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Colorado Springs Real Estate Journal

August 29, 2016

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Local News COLORADO SPRINGS AREA

Housing Stats Dashboard and Colorado Springs AreaSales Analysis COMPILED AND ANALYZED BY:

Housing Stats and Sales Analysis Jay Dashboard Gupta, BME MA MRE CRS CMRS SRES CDPE Compiled and analyzed by: 2008 PPAR Chairman and 2010 REALTOR® of the Year

Jay Gupta , BME MA MRE CRS CMRS Region SRES CDPE CAR Research Committee Southeast Spokesperson

® of thesales WithChairman over 2-Billion personal and managed Year 2008 PPAR andin2010 REALTOR CAR Research Committee Southeast RegionRocky Spokesperson Berkshire Hathaway Home Services Mountain, REALTORS® With over 2-Billion in personal and managed sales ® For comments & questions, contact: JayKGupta@gmail.com Berkshire Hathaway Home Services Rockyplease Mountain, REALTORS For comments www.ColoradoSpringsHomesAndStats.com & questions, please contact: JayKGupta@gmail.com www.ColoradoSpringsHomesAndStats.com

Housing Stats Dashboard

Single Family/Patio Homes Sold Through Pikes Peak MLS

Owners:

Patti Walter, Matt Hall, Ashley Bush

WWW.LEGACYTITLE-LLC.COM “empowering our associates to make the difference”

Month / Year / Change % New Listings Active Listings Monthly Sales YTD Sales % of Active Listings Sold Monthly Sold Volume YTD Sold Volume Median Price Average Price % of List Price Received Average Days on Market Months' Supply % of Sold Listings … Sold in 0 to 30 Days … Sold in 31 to 60 Days … Sold in 61 to 90 Days … Sold in 91 to 120 Days … Sold in 121+ Days

July 2015 1,882 3,409 1,367 7,651 40.1% $376,495,050 $2,058,968,261 $243,000 $275,417 98.8% 72 2.5 months 31.2% 30.3% 15.6% 8.9% 14.1%

Sales Analysis

July 2016 1,932 2,780 1,485 8,791 53.4% $436,831,556 $2,479,694,952 $257,500 $294,162 99.6% 28 1.9 months 77.0% 12.1% 4.3% 1.5% 5.1%

Change 2.7% (18.5)% 8.6% 14.9% 13.3% 16.0% 20.4% 6.0% 6.8% 0.8 % (61.1)% (24.0)% 45.8% (18.2)% (11.3)% (7.4)% (9.0)%

Single Family/Patio Homes Sold Through Pikes Peak MLS Month and Year July 2015 July 2016 Price Range

MEET A C L

Julie Nicks brings over 20 years of title experience to Legacy Title as a closer. She is a native to Colorado Springs; so she knows the people, as well as the area.

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Don’t forget about our Continuing Education classes.

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Under $199,999 $200,000 to $299,999 $300,000 to $399,999 $400,000 to $499,999 $500,000 to $599,999 $600,000 to $799,999 $800,000 to $999,999 $1,000,000 to $1,999,999 Over $2 million

29.2% 41.0% 16.5% 8.3% 2.6% 1.8% 0.3% 0.4%

1.4 months 1.9 months 3.1 months 3.2 months 6.2 months 11.3 months 27.0 months 20.6 months

18.7% 46.5% 19.5% 8.3% 3.6% 2.2% 0.9% 0.3%

1.0 months 1.2 months 2.0 months 3.2 months 3.7 months 7.8 months 6.9 months 29.5 months

0.0%

Infinite

0.0%

Infinite

Disclaimer: This representation is based in whole or in part on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) or its PPMLS for the period of July 2015 and 2016. Content is deemed reliable; however, neither the RSC nor the PPMLS nor PPAR nor Jay Gupta guarantees or is in any way responsible for its accuracy. Data maintained by RSC does not reflect all real estate activity in the market. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is prohibited.

Jay Gupta’s Observations and Remarks:

• 92.9% Single Family/Patio Homes Sold in July 2016 were Priced Under $500,000 – The exceptionally low inventory in this price range is providing an excellent opportunity to list and sell properties as there are plenty of buyers ready and willing to buy.

• 5.9% Single Family/Patio Homes Sold in July 2016 were Priced Between $500,000 to $800,000 – There is a great opportunity for buyers and sellers to buy and sell in this price range with a reasonably balanced supply and demand situation.

• 1.2% Single Family/Patio Homes Sold in July 2016 were Priced Over $800,000 – It is an opportune time for buyers to buy in this price range as there is a wide selection of properties to choose from and there are motivated sellers.

• Historically Low-Interest Rates – During the 2005-2006 record-setting real estate market, the interest rates were hovering around 6%. The current historically low-interest rates are providing financially qualified home buyers an incredible opportunity to stretch their buying power and lock-in the low rates for 30-years. It is important to keep in mind that every 1% increase in the interest rate reduces the borrowing power by 10% for the same monthly payments.

• A Comparison of July 2016 Sales Data with Previously Record Setting July 2006 – Active Listings are down by 53.6%. Months’ Supply is down at 1.9 from 2.5 months in 2006. Monthly Sales are up by 22.6%. YTD Dollar Sales Volume is up by 31.7%. Average Sale Price is up by 9.6%. Median Sale Price is up by 14.7%.

• Note: Even in a hot real estate market with low inventory, not every property listed For Sale sells. Buyers generally buy realistically priced properties offering competitive values.

See Housing Stats | 11

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Colorado Springs Real Estate Journal

August 29, 2016

Local News WCR Luncheon from 8

don’t

spective to these issues, he kept everyone on the edge of their seats (photo: Mayor John Suthers and Dawn Grubbs, Local WCR President).

Looking to future events, make sure you attend the September Luncheon which promises to be exciting as the broker panel and elections of incoming board members are featured. Stay up to date on Local WCR events at facebook.com/ ppwcr, and don’t forget to contact Laura Reed (719-646-1391) about becoming a member!

break the

bank

on

advertising Monthly Rates Start at $150!

Above photos by Bella McClellan (719.367.0855)

Housing Stats continued from 10 July 2016 Sales Analysis By MLS Areas Compiled by Jay Gupta Single Family/ Patio Homes

MLS Area

# of Months' # of Active Sold Supply Listings Listings

Black Forest Briargate Central East Fountain Valley Manitou Springs Marksheffel Northeast Northgate Northwest Old Colorado City Powers Southeast Southwest Tri-Lakes West Woodland Park

Median Price $

Average Price $

SP to Avg. List DOM %

All Real Estate Market Activity is "Local" 99 16 6.2 6,572,632 427,500 190 106 1.8 36,748,398 337,450 108 104 1.0 25,080,695 209,450 98 88 1.1 20,196,035 217,500 293 221 1.3 49,891,366 232,000 38 20 1.9 7,623,820 375,800 56 35 1.6 10,037,433 257,500 156 111 1.4 30,457,475 250,000 114 63 1.8 26,784,603 415,000 95 67 1.4 25,415,715 365,000 37 21 1.8 5,561,463 225,000 196 167 1.2 44,026,938 255,000 47 59 0.8 10,558,305 179,900 255 66 3.9 26,741,727 286,500 180 72 2.5 32,631,958 413,415 44 20 2.2 6,461,710 260,500 84 35 2.4 10,640,900 295,000

410,789 346,683 241,160 229,500 225,752 381,191 286,783 274,391 425,152 379,339 264,831 263,634 178,954 405,177 453,221 323,085 304,025

98.5 99.6 100.3 100.0 100.3 98.2 100.1 100.2 99.2 99.2 99.7 99.8 100.9 98.8 98.5 99.7 97.4

Sales Volume $

64 18 27 18 23 28 35 12 37 28 30 19 10 39 47 19 34

Disclaimer: This representation is based in whole or in part on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) or its PPMLS for the period of July 2016. Content is deemed reliable; however, neither the RSC nor the PPMLS nor PPAR nor Jay Gupta guarantees or is in any way responsible for its accuracy. Data maintained by RSC does not reflect all real estate activity in the market. © Copyright Jay Gupta. All rights reserved.

August 29, 2016

Send us your PHoToS!

josh@csrej.com

719.439.0773 rachelle@csrej.com

Colorado Springs Real Estate Journal

www.csrej.com

11

QUALITY SIGNAGE at BUDGET $$’s with QUICK TURNAROUND

M-F 8:30-5

Sales@ABudgetSigns.com

Local News

Development of northeast wooded community of Sanctuary Pointe underway

Custom Designed Yard Signs Realtor Yard Signs Custom Banners Brochure Boxes In-Stock Riders

Classic Companies has begun construction on the initial phases of development of its newest master planned community – Sanctuary Pointe. Located in Monument, Colorado – Sanctuary Pointe is situated at the top of Baptist Rd. to the east of I-25 on approximately 460 acres along the western edge of the Black Forest. The first release of Sanctuary Pointe includes a total of 85 single family homes on approximately 141 acres. Homes in this release will be crafted by local homebuilders – Classic Homes (45 lots), Saddletree Homes (15 lots) and Vantage Homes (25 lots). Home sites range from 8,400 square feet up to one-half acre in a natural treed setting with wooded views of the area. “The homes and streetscapes in Sanctuary Pointe will be designed to aesthetically complement the look you would expect in a natural forest setting.” said Loren Moreland, Vice President / Project Manager of Classic Companies.

Development plans for Sanctuary Pointe also include a community trail system that connects to the regional trail system.

Sanctuary Pointe and its community builders will host a grand unveiling event onsite early October. Interested parties will have the opportunity to experience the property first-hand, visit with community builders, and ultimately select and reserve lots. “We are very excited about our newest master planned community. Sanctuary Pointe is representative of the quality and desirability we strive for in our master plans.” said Doug Stimple, CEO of Classic Companies.

Locals and long-time residents of Colorado Springs and Monument, who are familiar with the property and have been anticipating the development of this community, along with those who are just learning about Sanctuary Pointe, are encouraged to join the Sanctuary Pointe interest list to be among the first to learn about the grand opening, lot releases, and development timelines. Please visit www.SanctuaryPointeColorado.com or email Info@SanctuaryPointeColorado.com for more information.

Parade of Ponds a success

Plant your seeds now and watch your business grow.

rachelle@csrej.com 719.439.0773 | www.csrej.com

The 10th Annual Purely Ponds Parade of Ponds charity pond and waterfall tour was a great success! It was held Saturday and Sunday, June 25th and 26th, 2016. The parade route consisted of 28 residential and commercial stops throughout Colorado Springs, Monument and Falcon. Pond and waterfall spectators enjoyed viewing refreshing water gardens under a beautiful mostly sunny Colorado sky. Ponds of various sizes and shapes were showcased along with many trendy pondless waterfalls, streams, spring fountains and basalt stone columns. These ecologically balanced waterscapes offered an experience in tranquility and soothing sounds of the water with a peaceful panorama of the naturalistic water gardens. The See Ponds | 14

12

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Colorado Springs Real Estate Journal

August 29, 2016

On the Move attitude, can be resolved." 99% of a smooth transaction is, understanding the local market and problem solving. Rebecca will be the right agent for you.

Jones, St James, Pfeifer Synergy Realty Group Devin Jones - I have lived in Southwest Colorado Springs for 25 years, and enjoy sharing my expertise in all areas of the Pikes Peak Region. Having spent over a decade in Luxury Resort Hospitality Management, I pride myself on creating an elevated level of service for my clients. I studied Business at the University of Colorado at Boulder, and love to golf, hike, mountain bike, and ski throughout the front range. When I'm not working to find the perfect home for my clients, I share time with my wife of 11 years, and our two Children.

Jina St James is an established real estate agent while being a wife of 15 years and a mother of 5 children. She is driven by her “the sky is the limit” attitude allowing her to stay motivated, dedicated, and succeed in every role she takes on. Her drive and determination has always lead back to her passion of Sales. A little over 10 years ago Jina was introduced to the world of real estate and hasn’t looked back. During the past 8 years while working in the field of New Home Sales; Jina has been helping buyers find the perfect home for them and their family, She has excelled in this field because her job is about the customer and what they want. “I listen to what you are looking for and I find it.

I can honestly say I love what I do!”

Her love for the business is why Jina is the perfect fit for your real estate needs. She specializes especially with buyers who are looking to work with New Home Builds.

Rebecca Pfeifer has always had a passion for Real Estate. She put her passion to work and made this her career in 1999. Living in Colorado Springs for over 30 years and raising her 5 children in this awesome city, gives her a great knowledge about the community and it's current and past real estate market. In her spare time she enjoys spending time with her 3 grandchildren, going hiking and volunteering for charitable events. Her thrive for perfection and understanding of family needs, is helping to make a transaction as smooth as possible.

As a former military wife, she also understands the importance of the military/family needs. Honesty and Integrity is the upmost importance for Rebecca. This helps her with dealing with clients and fellow agents. Problem solving is one of her strength. Her motto is "There are no problems, only issues that with the right mindset and August 29, 2016

Laura Gallant Buy Sell Impact, Inc Laura Gallant has joined Buy Sell Impact – Pikes Peak as an Associate Broker. She is transitioning from over 30 years changing lives in the fitness industry. Serving her community has been prominent in her actions as a fitness professional and will continue for her real estate clients. If you have ever taken one of her group fitness classes or trained with her, you know how compassionate her heart is to reach and serve people. She has lived in Colorado for the past 14 years and in the Colorado Springs area the past 7 years with her husband. She began in real estate as a loan processor years ago, comes from a real estate family with her grandfather who owned 9 real estate offices in southern California from 1950’s-1980’s, and grandmother and mother who were both escrow agents. Becoming a real estate broker has always been a goal and excited to have made it a reality now.

Together, with her contractor experienced husband, they have remodeled a 110 year old cute bungalow in the Old North End and love seeing transformation that brings a property back to life. Seeing potential in real estate is critical for finding the hidden gem properties around our area.

Alhassani, Sullivan EXIT Realty Pikes Peak Suha Alhassani has enjoyed the great pleasure of growing up in 3 different countries, and was able to experience various cultures, politics, territories, and most of all languages. She was born to a family a five in the United Arab Emirates, where naturally Arabic became her native tongue. After a few years her family immigrated to Canada and French became her second language. Throughout her high school career the Alhassani family moved for the last time to the United States. Suha had the opportunity to experience and assist her parents in purchasing a new home; in which she found her passion. She was absolutely impressed by the overwhelming joy her parents felt after purchasing their new home that she then decided that this is an essential feeling all buyers and sellers should experience. She

believes in developing trusting relationships and comprehending each client’s unique circumstances.

Suha has had the opportunity to work with State Representatives; assisted in the Presidential and Congressional elections, and understands the true value of underrepresented voices. She believes in the significance of community outreach and has volunteered for mental health outreach programs, habitat for humanity, community housing and recreation and much more.

Once Suha found EXIT realty she found her home! With the hardworking, supportive and devoted staff, she fell right in to the family atmosphere.

Christine Sullivan - I came to Colorado for a quick vacation in 1993 and knew within a few days that this is where I belong. I transferred from the college I had just started attending in Orange County, CA and started a new chapter of life, living in Colorado Springs and attending school in Denver.

I met my husband in 1995 and married two years later. We have two fabulous boys that I just couldn’t fathom raising anywhere else. My husband and I owned our own construction company for 15 years and that is where my passion for the housing market developed. After closing our business, I pursued that passion so that I could assist others with their journey to, from or around this majestic city. I feel blessed every day that I get to enjoy the sights, sounds and community that this city has to offer.

Gomes, Gomes, Quinones, Pickett Pink Realty Deanna Gomes started working for Pink Realty in 2012 doing many roles from our on staff photographer to Listing Coordinator. Deanna got her real estate license in 2014 to expand her knowledge and to help out more people. Deanna joined Pink Realty again as an agent in 2016.

Jon Gomes recently joined the Pink Realty Buyer Team after a 20-year career in the United States Air Force both active duty and reserve under Space Command headquartered here in Colorado Springs. As a 10-year member of our community and former military member, he has great knowledge of the area and understands the challenges experienced by relocating military families. He and his wife Deanna are a great team here at Pink Realty.

Colorado Springs Real Estate Journal

Maureen Quinones just started working for Pink Realty as an Agent in June 2016. Before becoming a Real Estate Broker Associate, she was a stay home mom of two girls, and a childcare business owner for special needs children for 6 years. Back in 2011, Maureen started investing in property remodeling and managing rental properties.

Cliff Pickett comes from an 18 plus year career in the Physical Therapy world working with the elderly.

Cliff has been licensed since 2013 and decided to go full time as an agent when he joined Pink Realty in June.

watts, murphy, Thompson, daly, Ramirez RE/MAX Properties We are pleased to announce that Lei Lonnie Watts has joined RE/ MAX Properties, Inc. We are pleased to announce that Ali Murphy has joined The Movement Team at RE/MAX Properties, Inc. Ali chose RE/MAX Properties, Inc. because of their training programs.

She found her passion in real estate and is looking forward to a successful future with her sister Sarah McGarry and team leader Phillip Martucci on The Movement Team.

Rob Thompson first arrived in Colorado Springs as a USAFA Cadet and fell in love with the area. In 1997 he moved to Colorado Springs permanently. He has completed careers in the military and corporate America and is looking forward to his career in real estate.

Rob chose RE/MAX Properties, Inc., and the Gold Medal Team, because of their reputation for integrity and outstanding customer service.

We are pleased to announce that Tommy Daly has joined RE/MAX Properties, Inc. Joseph Ramirez chose RE/MAX Properties, Inc. because of their success and reputation in Colorado Springs. Joseph’s ultimate goal in real estate is to help his clients through hard work, compassion and perseverance.

Someone new? josh@csrej.com www.csrej.com

13

Local Expert

Simply a-DORA-ble

Empire Title of Colorado Springs

5755 Mark Dabling Blvd., Ste 110, Colorado Springs, CO 80919 Phone: (719) 884-5300 - Fax: (719) 884-5304

www.etcos.com

Empire Title of Woodland Park 350 N. Pine St., Woodland Park, CO 80863 P.O. Box 9004, Woodland Park, CO 80866 Phone: (719) 686-9888 - Fax: (719) 686-8208

www.empirewp.com

Empire Title continues to excel as the #1 title provider in the Pikes Peak Region because we employ excellent Escrow Closers:

Sharon Myers

Donna Norman

Kay Lynn Mathews

Barbie Bunker

The Colorado Department of Regulatory Agencies (DORA) dedicates itself to “preserving the integrity of the marketplace and promoting a fair and competitive business environment” throughout the state. DORA is the explorer of consumer protection amongst nine divisions: civil rights, consumer counsel, By michael Podoyak Empire Title public utilities, professions and occupations, banking, financial — services, securities, real estate and insurance.

The Division of Insurance (DOI) monitors 17 different types of insurance, from automobile and annuities to travel and workers compensation. It also regulates all title entities, companies and agencies. In 2015, there were 322 title agencies with an active Colorado insurance producer’s license, and there were at least 10 title insurance underwriters operating in the state.

In 1972, the DOI put in a place a code of conduct for title entities to follow, which became known as Regulation 3-5-1. It remained in place for over four decades until very recently when the DOI decided to split it into five distinctive sections covering the following: Producer Licensing, Rates & Fees, Consumer Protection, Standards of Conduct and Fiduciary Duties.

New Regulation 8-1-3 “Title Insurance Standards of Conduct” became effective on August 15, 2016. Its stated purpose is to protect consumers by outlining what is considered “unlawful inducements, deceptive trade practices and discriminatory acts.” In not complying with this regulation, a title insurance provider risks fines and penalties up to and including the revocation of its producer’s license. So, you are likely to see some changes in how a title entity is able to promote its business.

Within the 11 pages that make up this new regulation, there are a number of specific rules that might seem very different to what you’ve become accustomed to from your title company. A few of the most notable stipulations are as follows: •

Fair Market Value, which includes cost and profit – must be charged on all marketing products and services (i.e.: Property Books, flyers, postcards, etc.).

•

Attendance Ratio: There must be 1 title insurance provider present for every 4 settlement producers (real estate agents or lenders, for example) during any business meal, local sporting event or similar function for the purpose of discussing business.

•

Fees, prizes and gifts prohibited: It is considered unlawful to provide anything of value to a settlement producer for meetings (except those on a title company’s premises or allowable educational courses), retreats, transportation, trips, open houses or any and all types of parties. This does not pertain to industry organizations that benefit all settlement producers.

In truth, as it always should’ve been, your choice of a title company should really be based on competency, communication and customer care – that’s what really should make them cute and adorable.

Karen Weller

Sara Bremenkampf

Jamie May

Shannon Chapa

And Introducing Empire’s newest, experienced Escrow Closers:

Leslie Fischer

Tracy Stowell

CJ Rugaard

Empire Title - No one else comes any Closer!

WE DON’T SUCCEED UNLESS YOU DO!

14

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Ponds from 12 people have voted and the 2016 Purely Ponds Parade of Ponds People’s Choice winner is tour stop #12, The Copperfield Pond. This gorgeous water garden starts with a 70’ long stream winding through an upper pool and beautifully flowering landscape into a 16’ x 11’ pond full of Koi and goldfish. This award winning feature was installed in 2007 and is powered by a 4500 gallon per hour pump. Congratulations to Melody & Gaines!

The Parade of Ponds was held in honor of the local charity for our youth, The Boys & Girls Club of the Pikes Peak Region. Tickets were sold for $5 each with a matching donation from Purely Ponds. Purely Ponds generated and proudly donated $2500 this year to this great charity. The Boys & Girls Club mission is simple: To inspire and enable all young people to realize their full potential as productive, responsible and caring citizens. Building character through everyday leadership and guidance in behavior and attitude, the professional staff provides nationally recognized programs that help young people succeed in school, stay healthy, learn important life skills, pursue interests in the arts and sports and explore vocational choices. The Boys & Girls Club is a remarkable organization in our community.

Thank you to all who supported and participated in the 10th Annual Purely Ponds Parade of Ponds to make this year another successful charity event.

Please make plans to attend the Parade of Ponds again next year on the last weekend in June.

Colorado Springs Real Estate Journal

August 29, 2016

Around the Corner Thursday, September 1 B.L.E.E.P. (Black Forest & Eastern Marketing Group) 8:30am-10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213 Thursday, September 8 Farm and Land 8:30am @ The Egg and I - Chapel Hills Charlie Triplett: 719-896-1777 Women’s Council of Realtors Luncheon 11am-1pm @ Hotel ElegantÊ 719-633-7718 Ext. 110 llittlefield@ppar.org YPN (Young Professionals Network of REALTORS) 3pm-4pm Meeting @ PPAR (board room) 4pm-6pm Social @ Red Martini (downtown) Michele VanMetre: 633-7718 mvanmetre@ppar.org

State of the City 11:30am-1:30pm @ The Broadmoor 719-884-2832 or sseaford@csrba.com Wednesday, September 14 eContracts - Intermediate 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300 Beginners CTM eContracts 2pm-4pm @ Legacy Title asalladay@legacytitle-llc.com Thursday, September 15 Database Marketing 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300 Restoring Contaminated Buildings 2pm-4pm @ Legacy Title asalladay@legacytitle-llc.com

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.

Friday, September 16 Annual Commission Update 8:30am-12:30pm @ PPAR www.ppar.org

Tuesday, September 27 Council Of Elite Property Managers 3pm-5pm @ PPAR www.ppar.org

Getting Listing Priced Right 1pm-4pm @ PPAR www.ppar.org

Thursday, September 29 Mandatory Ethics Course 9am-1pm @ Empire Title rsvp@etcos.com 719-884-5300

Wednesday, September 21 Basics of the Title Commitment 2pm-4pm @ Empire Title rsvp@etcos.com 719-884-5300 Life of a Loan 11am-1pm @ Legacy Title asalladay@legacytitle-llc.com Thursday, September 22 Annual Commission Update 9am-1pm @ Empire Title rsvp@etcos.com 719-884-5300

uPComInG dEAdLInES Deadline

Distribution

Sep 15, 2016

Sep 26, 2016

Oct 20, 2016

Oct 31, 2016

Nov 17, 2016

Nov 28, 2016

Dec 15, 2016

Dec 30, 2016

Parade of Homes Awards NEXT

See which homes won your votes ISSUE

8 Years!

August 29, 2016

thanks for reading

Colorado Springs Real Estate Journal

www.csrej.com

15

Imagine...

Lakes reflecting Colorado mountain skies Winding trails through sunlit meadows The rich scent of pine upon the gentle breeze

...just south of Monument.

A Rare Beauty, Indeed.

Choice lakeside properties with commanding mountain views...pristine

Spectacular by Nature.

landscape...and the uncompromised elegance of a masterfully-crafted,

ForestLakesColorado.com

luxury home. Forest Lakes is true Colorado living at its absolute purest.

• Adjacent to Pike National Forest

• 450 acres of open space

• Interconnecting public and private trails

• 2 community lakes

• Neighborhood parks

Colorado Springs • Nearby shops and services

• Top-rated school district (D38)

New Model Now Open!

Homes priced from the low $400s Sales Office: (719) 481-9828

20 minutes from Downtown Colorado Springs

2919 Waterfront Dr.

20 minutes from Castle Rock

Monument, CO 80132

40 minutes from the DTC Located South of Monument, just off Baptist Road, West of I-25

* Pricing and availability subject to change.

True Colorado Living

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Luxury Homesites

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Award-winning Homebuilders