CSREJ - October

PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO

Vol. 10 No.2

October 30, 2017

www.csrej.com

Pikes Peak Association of REALTORS® installs new leadership and honors members The Pikes Peak Association of REALTORS® (PPAR) celebrated the installation of the 2018 Board of Directors at a formal dinner at The Pinery on the Hill on Friday, September 29, 2017.

PPAR welcomes Debbie Howes, RE/MAX Performance, as the Chairwoman of the Board and Donna Major, RE/MAX Advantage, as the Chair-Elect. Newly elected Directors include Randy Case, The Case ComHowes pany, and Larissa Kunz, Muldoon and Associates. Continuing on the leadership team are George Nehme, The Platinum Group, J.P. Speers, BHHS Rocky Mountain, Jon Walker, Walker Asset Management Realty, Inc., Kathy Tutko, RE/MAX Properties, Jacob Curbow, Century 21 Curbow Realty, Camellia Coray, Coldwell Banker and Ann Kidd, Blue Picket Realty.

Installed as Colorado Association of REALTORS® (CAR) Directors: • Barbara Asbury, Peak Realty • Darrell Wass, RE/MAX Advantage • Cherri Fischer, ERA Shields

Installed as a National Association of REALTORS® (NAR) Director: • Michael Labout, ERA Shields The evening’s celebration included the presentation of various awards and honors. The highest distinction of the evening was the presentation of the REALTOR® of the YEAR. The honor was bestowed upon Darrell Wass Wass, of RE/MAX Advantage, has been a member of the Association since 2003 and has served in various leadership positions including Chairman of the Board in 2016, President of the REALTOR® Services Corporation in 2015 and currently serving as a Director for the Colorado Association of REALTORS®.

PPAR also presented the “Extra Mile Award” for excellence, service and dedication to the real estate industry to Harry Salzman, ERA Shields. Salzman has served as a member of the Government Affairs Committee for over 20 years. As part of the association’s advocacy efforts he has represented PPAR in

city and county with his famous statistical and economic outlook, making him and PPAR the go to source for housing statistics in the region.

In addition to his advocacy efforts Harry has been a valuable member of PPAR’s investment task force.

The above article has been supplied by the Pikes Peak Association of Realtors®. For more information log on to www.ppar.com or call 719-633-7718.

Battery-powered homes are becoming reality Your clients may one day live in a batterypowered home, and that’s getting closer to reality for homeowners in New York, California, Massachusetts, Hawaii, Vermont, and Arizona.

Many municipalities in those states are revamping their electrical grids and turning to batteries to make them more efficient. But the average homeowner likely won’t notice the change. Most plans call for batteries to be tucked into a sort of neighborhood junction box or behind a fence in a substation, The Wall Street Journal reports.

Batteries can harness renewable energy sources and make utility companies less reliant on more expensive forms of electricity when demand runs high. “Without batteries and other means of energy storage, the ability of utility companies to deliver power could eventually be threatened,” according to the Journal.

Empty nesters lured to the apartment life One of the biggest segments of new renters is empty nesters ages 55 and up, as multifamily developers reconsider their original focus on millennials.

Between 2009 and 2015, the number of renters older than 55 increased 28 percent, or 2.5 million—the largest uptick of any age group, according to data from rental listing site RENTCafé. Meanwhile, the number of renters ages 34 and younger rose just 3 percent during the same time period.

“Lowering living expenses, looking for a different lifestyle, less house-related work,

See Battery Power | Page 4

PPAR Board Installation

R.A.A.C. Casino Night

Jay Gupta's September Housing Stats

PAGE 5

PAGE 8

PAGE 10

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

Corp NMLS #3113

National News............ Page 4 Local News................ Page 6 On the Move.............. Page 13 Local Expert.............. Page 14 Around the Corner....... Page 15

Debbie Havens

Joe Drew

Amanda Smith

(719) 264-1967

(719) 266-6155

(719) 264-1972

Branch Manager

1730 Chapel Hills Drive Suite 100, Colorado Springs, CO 80920

Mobile Issue (Beta)

See Empty Nesters | Page 4

Honest & Ethical Service from People You Know.

Salzman

NMLS #653845 State Lic #100018256

debbie.havens@academymortgage.com

Loan Officer

NMLS #1492476 State Lic #100507484

joe.drew@academymortgage.com

Loan Officer Assistant NMLS #1561851 State Lic #100506142

amandas@academymortgage.com MAC1017-1449701

2

www.csrej.com

Colorado Springs Real Estate Journal

October 30, 2017

October 30, 2017

Colorado Springs Real Estate Journal www.csrej.com

3

National News 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.

Battery Power from 1 “Solar power, especially, tends to generate electricity only at certain times—and it’s rarely in sync with a home’s needs.”

In the aftermath of recent hurricanes, companies such as Sonnen and Tesla helped keep homes powered using batteries, demonstrating the importance of freeing people from total dependence on the electrical grid during emergencies. They found that battery power worked particularly well when combined with rooftop solar panels.

Real estate developer Mandalay Homes has announced plans to build up to 4,000 ultra-energy-efficient homes, which will feature 8 kilowatthour batteries from German manufacturer Sonnen. The bulk of the homes will be built in Prescott, Ariz. The development could be the largest home energy storage project in the country, Sonnen Senior Vice President Blake Richetta told the Journal.

In Vermont, Tesla Energy and Green Mountain Power have teamed up to offer 2,000 homeowners a Tesla Powerwall for $15 a month. The 13.5 kilowatt-hour batteries, which retail

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.

for $5,500, can be used when the electrical grid is strained at maximum capacity, saving utility companies from having to use pricier forms of electricity. Those savings could then be passed on to consumers. © Copyright National Association of Realtors.

Reprinted with permission.

Empty Nesters from 1

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. ®

and overall less responsibility can be achieved by downsizing, so a lot of retirees opt to rent,” Simona Solomie, a broker with RE/MAX Masters in Morton Grove, Ill., says about the study’s findings.

But that doesn’t necessarily mean seniors are headed for urban high-rises when seeking apartment life. Nearly 40 percent of renters older than 55 chose a suburban lifestyle, according to RENTCafé. Of the 20 largest metros in the country, the city of Riverside, Calif., has the largest percentage of seniors making up renter households (63 percent). Los Angeles, however, has posted the largest gain in senior renters—about 134,000 between 2009 and 2015.

We welcome the submission of articles, photos and press releases. Email josh@csrej.com your submissions or questions.

719.439.0773

www.csrej.com

Sign up for

eBlast!

© Copyright National Association of Realtors.

Reprinted with permission.

Great deals, promotions, and announcements from local ad partners emailed to you from us.

EMPIRE TITLE'S CAÑON CITY GRAND OPENING September 26, 2017

Usually less than 3 emails a week

QUALITY SIGNAGE at BUDGET $$’s with QUICK TURNAROUND

Unsubscribe at anytime

Scan the code or visit TinyURL.com/ csrejeblast

CUSTOM RUBBER STAMPS

Sales@ABudgetSigns.com

NOTARY SEALS

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

INTERIOR SIGNS NAME BADGES LOGO

w/

NEXT DAY STAMP SERVICE in most cases

4

www.csrej.com

Colorado Springs Real Estate Journal

1220 Main St., Cañon City October 30, 2017

PPAR INSTALLATION OF BOARD OF DIRECTORS September 29, 2017 @ The Pinery at the Hill

Village Center at Woodmoor $479,123 1060 Night Blue Circle, Monument

Available Now! Stunning 2-story “Montarbor” on 1/4 acre corner lot features 3,845 SF, finished Basement, 5 BR, 3.25 BA, 3-car Garage and fully landscaped front yard. Real hardwood floors throughout main level, Great Room with stone fireplace, quartz countertops in Kitchen, stainless steel appliances including double oven. Air conditioning and smart home security pre-wire. Wet bar in Basement and surround sound pre-wire. Contact Fred Heedt at monument@campbellhomes. com or 719.494.8010.

Meridian Ranch $449,802 10953 Checo Way, Peyton

Available Now! Spacious “Raintree” ranch home on a 1/4 acre site! 4 BR, 3.5 BA with 3,956 square feet including a finished Basement. Main level Office with built in bookshelves, hardwood floors, Maytag stainless steel appliances in Kitchen, walk-in pantry, gas fireplace in Great Room, Master Bedroom on main level with vaulted ceilings. Finished Basement with surround sound and wet bar. Contact Roxanne Nice at meridianranch@ campbellhomes.com or 719.418.3969.

NEW MODELS NOW OPEN IN NORTH FORK, MERIDIAN RANCH AND CORDERA! Building in Cordera • Meridian Ranch • Quail Brush Creek • Monument • North Fork

October 30, 2017

Colorado Springs Real Estate Journal www.csrej.com

5

Local News

NAT Cares: Winter Wear Donations The Genuine. The Original.

Overhead Door Company of Colorado Springs, Inc. The Genuine. The Original.

Replacement Garage Door Replacement Experts!

Garage Door Overhead Door Company Colorado Springs, Inc. The of Genuine.

The Original.

North American Title of Southern Colorado has chosen REACH Pikes Peak as our Winter 2017 company charity. Please join us in supporting this amazing organization, as it cares for our Pikes Peak region families. The mission of REACH Pikes Peak is to “Increase the capacity of low-income families and individuals to be self-sufficient.” You may visit their website at www.reachpikespeak.org for more information.

As part of our NAT Cares initiative, throughout the entire month of November each North American Title branch in Colorado Springs will be accepting donations of all forms of winter wear, especially winter coats, as well as bedding and blankets of any size. We look forward to partnering with the local real estate community in caring for the families of our region.

Locations: NAT – Explorer 8610 Explorer Dr Ste 105 Colorado Springs, CO 80920

NAT – Cascade 102 N Cascade Ave Ste 330 Colorado Springs, CO 80903

PEAK PRODUCERS OKTOBERFEST September 21, 2017 @ Edelweiss Restaurant

Experts!

Overhead Door Company Garage Doors & Openers of Colorado Springs, Inc.

Replacement Garage Door Experts!

Garage Doors & Service/Repair Openers Free Estimates • 24-hr Free Estimates • 24-hr Service/Repair

www.ohdcs.com www.ohdcs.com 596-2171 • 1205Ford Ford St. 596-2171 • 1205 St.• ovecs@aol.com • ovecs@aol.com

Owners:

Ashley Bush, Matt Hall, Patti Walter

www.ohdcs.com WWW.LEGACYTITLE-LLC.COM

596-2171 • 1205 Ford St. • ovecs@aol.com

Legacy Title is excited to announce Andrew Newland to our Business Development Team! Andrew is new to the Title Business but has been around the industry his whole life, because of his father Stick Newland.

Please join us in welcoming Andrew to the Legacy Team!

6

www.csrej.com

Colorado Springs Real Estate Journal

October 30, 2017

Local News

PPAR candidate endorsements and supported issues General Election Information: Ballots will be mailed to voters on October 16, 2017. Please return your voted ballot by mail or drop off at any of the assigned locations. You can also vote in person at voter service centers. Please remember that if mailing a ballot you do so no later than November 1st, this will allow sufficient time to have your ballot processed and counted by 7:00 p.m. on November 7th. Otherwise, ballots must be dropped off by November 7th. For additional information about ballot locations and voter service and polling centers visit: www.epcvotes.com.

School Board District Races: The Pikes Peak Association of REALTORS® (PPAR) announced its endorsement for Colorado Springs District 2, District 11, District 20 and D 38 School Board races that will take place with the November 7th Coordinated Election.

The REALTORS® asked candidates about issues facing their respective school districts and their solutions to address those issues. In addition, the group requested candidates share their vision for improving the quality of education and for innovation within the school districts. Districts 2, 11, 20 and 38 where asked to participate,

October 30, 2017

as they are districts that are having an official election; other districts cancelled elections for board seats due to no competitive races or simply equal amounts of candidates filed paperwork to fill open seats. Only candidates interviewed were considered for endorsement. Each of the candidates demonstrated knowledge, experience and passion for education that our association seeks from those interested in serving on the school board. Candidates that received endorsement displayed a depth of knowledge about REALTOR® issues and a tremendous understanding about the quality of education in relation to housing.

Harrison School District 2: Jeannie Orozco Steve Seibert Colorado Springs District 11: Shawn Gullixson Jim Mason Julie Ott Academy District 20: Tom LaValley Karin Reynolds Will Temby District 38: Tiffiney Upchurch

VOTE “YES” ON BALLOT ISSUES El Paso County Issue 1A: Without an increase in taxes and no new fees, El Paso County Issue 1A asks voters to retain $14.8 million for the following purposes: • At least $6 million will be a “local match incentive” to secure federal and state funds for the widening of I-25 from Monument to Castle Rock.

• High impact county road and bridge projects would receive approximately $6 million.

• Approximately $1 million will be used as a local match to secure approximately $4 million for remaining flood recovery and mitigation projects. Included are projects in the Fountain Valley area prevent further destruction erosion of creek banks in areas that were heavily impacted during the September 2013 thousandyear storm.

• Approximately $1.5 million will be used to secure state matching funds for parks and trails improvements. In 2014, voters approved a one-time $2 million revenue retention for County Parks and trails which was used to secure additional matching funds to complete more than $4 million in improvements.

The County will continue to be subject to all TABOR tax and revenue

limitations going forward.

Colorado Springs Issue 2A: Colorado Springs is a growing, thriving community, and our infrastructure has to keep up. We are the only city in the country that does not fund stormwater drainage and flood prevention through a dedicated service fee. The proposed fee structure is a flat fee for residential and commercial ($5 per month residential/ $30 per month commercial) and is comparable to or lower than other cities.

Our city’s stormwater drainage and flood prevention infrastructure has deteriorated to dangerous levels, leaving our city vulnerable to damaging floods. A dedicated fee, with a specific project list to address the most critical areas, will enable the city to limit flooding and protect your personal property and public safety.

See Election | Page 8

Colorado Springs Real Estate Journal www.csrej.com

7

Local News Election from 7 Managing storm water is a matter of protecting lives, homes, businesses, water quality, roads and bridges. It is about the quality of life of our community; it is about local jobs and lower insurance rates.

The Pikes Peak region has experienced its share of natural disasters in the past few years and are now too familiar with the need to have infrastructure to mitigate water flow and prevent excessive flooding.

Investing in a stormwater infrastructure is not only necessary, but also needed to protect the Pikes Peak Region’s assets.

For additional information on issue 2A please visit http://www.investincos.org/

for today’s new work force. To learn more visit: https://www.friendsofd11.org/plan/

Issue 3E: District 11 issue 3E. This critical funding will allow the district to retire existing debt ahead of schedule, saving taxpayers millions of dollars, and setting District 11 up for another generation of success in the classroom. The last time District 11 residents approved a funding request for the schools was the year 2000. The world has changed since then and we need to make sure our schools are equipped to prepare our children

Pikes Peak Rural Transportation Authority Issue 5B Every municipality that is part of the PPRTA will have the opportunity to amend existing allocations of funding to request that without raising taxes, should the PPRTA be amended to include State Highway 105 North to County Line Road.

The above article has been supplied by the Pikes Peak Association of Realtors®. For more information log on to www.ppar.com or call 719-633-7718.

R.A.A.C. (REALTORS & AFFILIATES AGAINST CANCER) CASINO NIGHT September 23, 2017 @ Norris Penrose Event Center

8

www.csrej.com

Colorado Springs Real Estate Journal

October 30, 2017

Local News

Colorado Springs mortgage professionals rewarded with service in South Africa While many people travel to South Africa to experience safaris and surf, Academy Mortgage Colorado Springs Branch Managers Charadie Finkle, Debbie Havens, and Dave Slater and Sales Manager Dustin Sidwell recently traveled to the culturally diverse African nation to serve.

Charadie Finkle repairs a rooftop for South African school.

A group of more than 160 loan officers, managers, executives, and other company representatives participated in Academy’s Service Expedition to South Africa in September. The Expeditioners gave two days of service to benefit The Makwetse School, which is located near Kruger National Park and is filled to capacity with more than 700 students. Despite having classrooms overflowing with 100 students or more, the public school cannot and will not turn any child away or the school risks losing its government funding.

Improving the school’s infrastructure was Academy’s primary focus. Academy volunteers assisted with the construction of a desperately needed school kitchen—a life-saving addition in an environment where school meals are often some students’ only meals of the day. To help Debbie Havens and Dave Slater keep the kitchen shelves refurbish the inside of a South African School. stocked, Academy volunteers also built key-hole gardens, which the students will tend. Other projects included: painting classrooms and windows, refurbishing over 400 student desks, and painting bookshelves for the school’s new library in bright colors. All of the projects, including the construction of the library and future construction of a new playground, were funded by Academy. “It was incredible to put in such a labor-intensive day of work,” said Finkle. “The reward we felt for our time was unlike any feeling that we’ve ever experienced. The people were beyond kind and so grateful!” “To see how happy the beautiful people in Africa were was so incredible,” said Havens.

“There was a true sense of comradery and love for one another. Everyone had smiles on their faces and helped each other when needed. To work side by side with our teammates in giving back and serving others in need is so rewarding and fulfilling.”

Only Academy’s highest-performing managers, loan officers, and employees earn the opportunity to go on the Service Expedition. Since the program’s inception in 2011, Academy team members company-wide have to come to recognize that there is truly no greater reward than the chance to serve others. The Service Expedition is an important and differentiating component of Academy’s heavily service-oriented company culture.

“These are life-changing experiences that Academy provides through these trips,” said Slater. “No other company that I know of gives back as much as Academy does.”

“South Africa truly was the trip of a lifetime,” said Sidwell. Dustin Sidwell builds community garden for South African school. ”Trips like this change the way you think about the world and what is possible.”

To watch a video of Academy’s Service Expedition to South Africa, please visit www.academymortgage.com/southafrica.

FRAUD IN A REAL ESTATE TRANSACTION HAS THE POTENTIAL TO AFFECT EVERY PARTICIPANT. The best defense is vigilance and a determination to TRUST, BUT VERIFY when suspicions arise. At North American Title, we are committed to working closely with our real estate agent customers and their clients to raise awareness of fraud schemes that can wreak havoc on a real estate transaction.

To learn more about how you can join us in our fight against fraud, visit www.nat.com/COPreventFraud Count on North American Title to protect you and your client throughout the real estate transaction process.

COLORADO SPRINGS – DOWNTOWN 102 N. Cascade Ave. | Suite 330 Colorado Springs, CO 80903 t: 719.578.4100

©2017 North American Title Group, LLC and its subsidiaries. All Rights Reserved. | CO 17-10536 R 05.03.17

COLORADO SPRINGS – NORTH 8610 Explorer Drive | Suite 105 Colorado Springs, CO 80920 t: 719.598.5355 www.nat.com/CO

"Like" us on facebook.com/csrej October 30, 2017

Colorado Springs Real Estate Journal www.csrej.com

9

Local Stats Your website a click (or tap) away.

Vol.9 No.5

Colorado Springsand AreaSales Analysis Housing Stats Dashboard

January 30, 2017

www.csrej.com

Housing Stats Dashboard and Sales Analysis

Builders pick up the pace this winter Housing production nationwide edged up 11.3 percent on a seasonally adjusted basis in December due to a surge in multifamily construction, the Commerce Department reported this week. Multifamily production – often viewed as volatile month-to-month – surged 57 percent to 431,000 units in December.

Single-family starts, on the other hand, fell 4 percent to a seasonally adjusted annual rate of 795,000 units. But builder sentiment remains high for the single-family market’s outlook.

“Despite the slight dip in singlefamily production, December’s rate

is still the fourth highest single-family pace since the Great Recession, and single-family starts also posted solid gains for the year,” says Granger MacDonald, chairman of the National Association of Home Builders. “Builders remain confident and we expect further growth in the single-family market in the year ahead.”

Across the country, combined single and multifamily housing production increased 31.2 percent in the Midwest; 23.5 percent in the West; and 18.5 percent in the Northeast.

The South was the only major region to post a loss, dipping 1.4 percent last month.

"This report represents firm growth for housing in 2016, as single-family starts rose 9 percent and multifamily production was down slightly," says Robert Dietz, NAHB’s chief economist. "We expect that 2017 will be another year of gradual, steady improvement in the housing market.

Multifamily starts have been volatile in recent months, but should level off as supply meets demand. Meanwhile, single-family production continues to gain momentum but is limited by supply-side headwinds."

Single-family permits – a gauge of future construction – increased 4.7 percent to 817,000 units in De-

America’s 10 healthiest housing markets spent an average of 56.3 days on the market, significantly less than the national average of 169.6 days.

Indeed, seven of the top 10 markets in the U.S. are located in towns within the Midwest region, including three markets that are in Michigan.

To determine the healthiest housing markets in the country, SmartAsset took into account factors like

the percentage of homeowners with negative equity; the average time a for-sale home spends on the market; affordability as the monthly cost of owning a home (and as a percentage of household income in each county and city); among other factors.

HBA Board Installation

HBA Holiday Party

Jay Gupta's November Housing Stats

PAGE 2

PAGE 4

PAGE 9

PAGE 10

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

cember. That is the highest level in 2016. Multifamily permits, however, dropped 9 percent to 393,000 units, the Commerce Department reports.

Just hours after being sworn in, President Donald Trump moved to suspend a plan to reduce the Federal Housing NAR officials Administra“disappointed” tion’s mortgage insurance premiums that was set to go into effect on Jan. 27. The plan had been announced just a few days ago by the outgoing Obama administration and Housing and Urban Development head Julian Castro.

The reduction in premiums by 25 basis points, or a quarter percentage point, “has been suspended indefinitely,” according to an FHA news release.

See FHA | 5

Debbie Havens

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

Sharon Ballinger

Will Michaloski

Marianne Elep Turner

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

(719) 491-2500 sharon.ballinger@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 #1058945 State Lic #100044854

NMLS #231308 State Lic #100029888

Branch Manager

Sales Manager

Sr. Loan Officer

CARChairman Research and Committee Southeast ®Region of theSpokesperson Year 2008 PPAR 2010 REALTOR With over 2-BillionSoutheast in personalRegion and managed sales CAR Research Committee Spokesperson With over 2-Billion in personal managed Berkshire Hathaway Home and Services Rockysales Mountain, REALTORS® Berkshire Hathaway Home Services Rocky Mountain, REALTORS® For comments & questions, please contact: JayKGupta@gmail.com For comments & questions, please contact: JayKGupta@gmail.com www.ColoradoSpringsHomesAndStats.com www.ColoradoSpringsHomesAndStats.com

Trump puts a halt to FHA mortgage cuts

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

Loan Officer

JayCompiled Gupta, BME MA MRE and analyzed by: CRS CMRS SRES CDPE

2008 ,PPAR 2010 REALTOR® of the Year Jay Gupta BMEChairman MA MREand CRS CMRS SRES CDPE

© Copyright National Association of Realtors.

Reprinted with permission.

See Healthiest Markets | 5

Festival of Lights

Mobile Issue (Beta)

What makes a healthy housing market? According to SmartAsset, it is one that shows stability, affordability, and in which homeowners are able to easily sell their homes with a low risk of losing money over the long run.

The healthiest housing market in the country: Edgewood, Ky., a suburb of Cincinnati. Homes in Edgewood

Call Rachelle // 719.439.0773 rachelle@csrej.com

COLORADO SPRINGS AREA

COMPILED AND ANALYZED BY:

Your ad appears in print and online.

All for one low price.

PRSRT STD US POSTAGE PAI D PERMIT 745 COLO SPGS CO

Housing Stats Dashboard

Loan Officer

Single Family/Patio Homes Sold Through Pikes Peak MLS 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

September 2016 September 2017 1,395 1,442 2,443 2,145 1,381 1,509 11,624 12,449 56.5% 70.3% $402,343,937 $467,334,316 $3,311,944,952 $3,899,026,800 $264,000 $275,000 $291,342 $309,698 99.3% 99.4% 35 24 1.8 months 1.4 months 67.3% 16.7% 7.4% 3.3% 5.4%

Sales Analysis

75.5% 13.5% 5.2% 3.0% 2.8%

Change 3.4% (12.2)% 9.3% 7.1% 13.8% 16.2% 9.9% 4.2% 6.3% 0.1% (31.4)% (22.2)% 8.2% (3.2)% (2.2)% (0.3)% (2.6)%

Single Family/Patio Homes Sold Through Pikes Peak MLS September 2016 September 2017 % of Total Months % of Total Months Price Range Monthly Supply Monthly Supply Sales Sales Under $199,999 17.1% 1.3 months 13.9% 0.6 months $200,000 to $299,999 47.7% 0.9 months 47.3% 0.6 months $300,000 to $399,999 21.4% 1.7 months 21.7 % 1.6 months $400,000 to $499,999 7.2% 3.4 months 8.8% 2.8 months $500,000 to $599,999 4.4% 3.0 months 4.1% 3.0 months $600,000 to $799,999 1.5% 11.4 months 3.3% 4.3 months $800,000 to $999,999 0.6% 11.3 months 0.5% 12.5 months $1,000,000 to 0.1% 55.5 months 0.3% 29.5 months $1,999,999 Over $2 million 0.0% Infinite 0.1% 33.0 months 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 September 2016 and 2017. 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 The Colorado Springs area housing market has started the usual fall slowdown cycle. Monthover-month from August to September 2017, single family-patio home stats are showing a drop in sales by 9%, new listings by 16%, active listings by 6.1%, average price by 1.3%, and median price by 2.7%. However, year-over-year the housing market remained strong in the month of September 2017 while listing inventory remains well below what is considered a balanced market. The single family-patio home sales were up 9.3%, average price by 6.3%, median price by 4.2%, new listings by 3.4%, the days on the market dropped to 24 compared with 35 in September 2016 but the listing inventory was down by 12.2%.

Unprecedented Supply and Demand Imbalance (Single Family/Patio Homes) • • •

‘Price Segmented’ Supply and Demand Analysis • 91.7% of Single Family/Patio Homes Sold in Sept. 2017 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.

September 2017 Sales Analysis By MLS Areas Compiled by Jay Gupta Single Family/ Patio Homes

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

# of Months' # of Active Sold Supply Listings Listings

Sales Volume $

Median Price $

Average Price $

SP to Avg. List DOM %

All Real Estate Market Activity is "Local" 78 25 3.1 12,987,000 495,000 206 108 1.9 38,519,806 337,500 68 80 0.9 19,905,612 220,000 86 103 0.8 26,402,380 245,000 180 262 0.7 66,814,119 252,500 20 5 4.0 2,373,252 392,000 60 42 1.4 13,246,325 288,750 87 94 0.9 26,639,850 369,950 122 49 2.5 23,215,328 460,381 68 38 1.8 15,695,699 380,000 38 28 1.4 7,289,462 231,000 96 142 0.7 39,859,814 275,000 61 96 0.6 19,070,690 198,700 172 63 2.7 25,172,425 287,000 190 73 2.6 33,505,669 437,125 42 28 1.5 9,998,500 273,500 38 30 1.3 11,645,400 344,000

519,480 356,664 248,820 256,333 255,015 474,650 315,388 283,402 473,782 413,044 260,337 280,702 198,653 399,562 458,981 357,092 388,180

99.3 99.5 100.5 100.3 99.7 97.3 99.1 99.7 98.8 99.1 98.9 99.9 99.0 98.5 99.5 99.9 98.7

36 29 17 30 24 63 34 16 40 22 23 16 13 27 31 17 33

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 September 2017. 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.

10

www.csrej.com

Sept 2017: Active Listings 2,145 Sales 1,509 Listings Sold 70.3% Months’ Supply 1.4 Sept 2007: Active Listings 6,767 Sales 695 Listings Sold 10.3% Months’ Supply 9.7 Sept 1997: Active Listings 3,634 Sales 847 Listings Sold 23.3% Months’ Supply 4.3

•

7.4% of Single Family/Patio Homes Sold in September 2017 were Priced Between $500,000 and $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.

•

0.9% of Single Family/Patio Homes Sold in Sept. 2017 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.

•

A Comparison of Sept. 2017 Sales Data with Previously High Record Setting Sept. 2005 • Active Listings are down by 51.6% • Months’ Supply is down at 1.4 from 3.6 months in 2005 • Monthly Sales are up by 22.5% • YTD Sales are up by 23.4% • Monthly Dollar Sales Volume is up by 52.3% • YTD Dollar Sales Volume is up by 58.6% • Average Sale Price is up by 24.3% • Median Sale Price is up by 31.9%

•

Historically Low-Interest Rates: During the 2005-2006 record-setting real estate market, the interest rates were hovering around 6%. The current historically low rates (in the 4% range) 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 amount of monthly payments.

In recent months, interest rates have started to move upward and additional small increases are anticipated in the coming months.

•

Note: It is important to keep in mind that 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.

Colorado Springs Real Estate Journal

October 30, 2017

Tech Corner

The Big Blue Giant

By Danny Cruz North American Title Mentioning Facebook in a room full of agents can get a whole slew of comments based on their respective experiences, or lack thereof. But one thing is certain, Facebook is the giant of social media and they only continue to grow. Some may argue that Facebook is slowly dissipating, but when its sister platforms Instagram and Messenger are taken into account, it seems there is no end in sight. Here is the other point to note: Facebook has taken notice of real estate. If already having included specific real estate audience targeting options such as “likely to move” and “renters” wasn’t enough, the recent release of a new ad product that Facebook has rolled out called Dynamic Ads for Real Estate (DARE) has certainly made it clear that they want a piece of the real estate ad spend pie. What’s more, the ads manager platform only continues to become more robust and offers marketers better and more intuitive advertising options. One such option is the Lead Form.

The Magic Bean Advertising has changed greatly in terms of methodology, but the formula remains the same: lead with value. The magical bean that makes businesses grow at a rapid pace is true value to the audience being marketed to. This is where all too often agents can easily spin their wheels (and spend their money) ultimately to never see a significant return. When it boils down to it, if there isn’t a compelling reason for a target audience to respond to an ad, than there is a good chance they won’t buy. Conversely, if an agent is providing great value to their audience, the odds increase

Real Estate is an Expensive Hobby...

Your real estate license is a valuable commodity don’t let it go to waste. Learn how you can earn referral fees without the expense or risk of dabbling in the business or walking away from it. You can hang your license and send as many referrals as you choose for only $100 per year! Come join the most innovative license holding company in Colorado with the award winning partner The Platinum Group, Realtors. This program is perfect for; 

Cultivating Contacts The obvious goal of most real estate agents is lead generation, especially as it relates to online advertising. Lead Forms are designed to keep the audience on Facebook while still giving the marketer valuable contact information. It works like this: Facebook users are browsing their feed when up pops an ad to be added to an exclusive Coming Soon distribution list to which, when their interest is peaked, they click on the ad and are given information about this exclusive list. Provided the information is enticing enough, they proceed to the Facebook created Lead Form where they are prompted to give their name, phone number, and email address. Once they have quickly and easily submitted the form, the marketer will receive a notification and will proceed to do with the information what they will. All of this happens without ever leaving the comfort of Facebook. In other words, the audience isn’t lured away to an all too familiar capture page where they could potentially begin to lose trust in the advertiser. The Lead Form has very quickly become a popular new tool in the marketing arsenal of many agents. Taking a step back into advertising on Facebook in general, it is paramount to note that there is one key factor that makes all of this work.

that they will earn their business. Agents would be wise to begin studying their target audience and mold their campaigns accordingly. For example, Zillow’s latest consumer housing trends report states, “Today’s typical seller is 45 years old, has a median income of $87,500 and is selling for the first time (61 percent).” Perhaps gearing a demographically targeted campaign to the enormous amount of first-time home sellers offering an eguide for simultaneously selling and buying could generate higher quality leads than a typical “what’s your home worth?” clickbait ad. It’s pretty simple really, give the people what they want.

    

Brokers transitioning to a different career.

Brokers who are doing less than 5 transaction per year.

Brokers retiring from the business.

Builder’s on-site sales Brokers.

Brokers relocating to a different state.

Brokers who do not want to put their valuable real estate license on ice.

Check out our web site for all the details www.ResidualIncomeRealty.com

John Vanderwege

Marketing & Recruiting Manager Office: 719-536-4333 Email: jvdw3845@gmail.com

Low Cost Real Estate License Holding Company Developing Long-Term Residual Income Through Rea Estate Referrals

It’s time to

REVOLUTIONIZE your business.

Attention

loan originators!

Axia’s Colorado Springs branch is growing, and we are looking for dedicated, professional loan advisors.

Learn how we can help you grow your business.

axiahomeloans.com/join Schedule a confidential meeting.

719-888-1200

If you want more from your lender, it’s time to talk to Axia.

WELCOME H

ME

c o m mun ic at ion | c l a r i t y | c lo si ng s

October 30, 2017

Axia is a registered trade name of Axia Financial LLC | NMLS ID 27830

Colorado Springs Real Estate Journal www.csrej.com

11

Not Just A Bargain Basement, A Free Finished Basement.

CLASSIC HOMES AND THE VILLAGE OF MILAN AT FLYING HORSE. IT’S THE WINNING COMBINATION. For a very limited-time, now through September 2017, finished basements are on the house when you build a new home with Colorado Springs Best Home Builder in Colorado Springs Best Home Development. Plus, all new homes in The Village of Milan include a coveted Social Fitness Membership in The Club at Flying Horse!

But hurry! While the list of reasons for owning a Classic in The Village of Milan goes on and on, the opportunity for a Free Finished Basement stops here.

Award-winning Hometown Builder since 1989 A+ BBB Rating Best Home Builder (10 Years Running) – Gazette’s Best of The Springs Best Home Developer – Gazette’s Best of The Springs Best Home Development (Flying Horse – 2 Years Running) – Gazette’s Best of The Springs Best Home Builder (10 Years Running) – Colorado Springs Business Journal Ranked 3rd in the Nation for Builders with Most Productive Employees – Builder Magazine More Floorplans than any other local Builder In-house Design Studio

Classic Homes, The Village of Milan at Flying Horse 2057 Ripple Ridge Rd., Colorado Springs, CO 80921 719-722-3865 | ClassicHomes.com/FlyingHorse

Limited 8-year Home Warranty

*Applies to new build construction homes, and only when financed through Classic Homes’ preferred lenders. Valid on new contracts written from 5/8/17 – 10/30/17. Offer applies only to Classic Homes in filings 2 and 4 in The Village of Milan. Limitations on floorplans and home sites may exist. Cannot be combined with any other incentives or discounts. Pricing, availability and incentive subject to change without notice. Visit model home for details.

12

www.csrej.com

Colorado Springs Real Estate Journal

October 30, 2017

On the Move Keli Hansen RE/MAX Advantage I've always found satisfaction in helping others. I worked in the investment field for over a decade and I was a top quality and productivity producer in my department and received many awards for having 100% quality in my duties of analyzing contracts as well as reconciling millions of dollars daily. In 2009, I became a published author of a nonfiction novel, Nala’s Story. I enjoy serving families along the front range with their real estate needs. I enjoy my career as a Realtor because it allows me to connect with many people and I truly find satisfaction in helping others reach their goals and dreams. Being a Realtor has allowed me to be more active in my family’s lives as well as feeling blessed by having my clients’ trust in helping make their dreams come true.

Martin, Loughman, Allen, Wheaton, Barr, Gutschick RE/MAX Properties The Wheaton Team is pleased to announce the addition of Realtor® Christine Martin to our real estate team.

Christine was raised in Southwest Colorado Springs and at the age of 12 became known to many local agents as “The Little Realtor”. Her passion for studying the housing market, searching for, and showing homes is contagious. She is very knowledgeable about the Colorado Springs area and will enjoy educating and assisting you in making your most important purchase! She recently graduated in the spring of 2017 from the Univer-

October 30, 2017

sity of Oregon with a Bachelor of Science degree in Applied Business and Economics.

Roberta Shafer Loughman has joined RE/MAX Properties, Inc. Roberta is excited to be a part of the #1 real estate company in Colorado Springs.

Buying or selling a home in easily the single most important and costly transaction that people make. That is why they deserve a realtor who will take the time to listen to their needs.

Roberta has the experience and connections to find homes that suit her client’s criteria, spot potential problems, and negotiate skillfully.

Kelly Allen has joined the Raspberry Mountain Team at RE/MAX Properties, Inc. Kelly was born and raised in Palmer Lake and has called the Tri-Lakes and Colorado Springs area her home for 24 years. Kelly chose RE/MAX Properties, Inc. because her mother, Kathy Allen, has been an agent with the company for 8 years and has loves being a part of the company. That was good enough reason for Kelly. She admires the RE/MAX Properties, Inc. brand name and recognition, and Joe Clement has always lead a very successful office. Kelly graduated from Colorado State University with a degree in apparel design and business.

After a short and successful run in the fashion industry, she felt compelled to turn her focus towards helping people achieve their housing goals and dreams. She is very driven to find exactly what her clients really want and need and is dedicated to working for their best interests. She believes that being an advocate and counselor in helping someone's dream come true will be extremely rewarding.

Jean Wheaton, of RE/MAX Properties, Inc. has earned her Certified Negotiation Expert Designation, (CNE) from the Real Estate Negotiation Institute (RENI). Only 4% of Realtors® that are part of the National Association of Realtors are certified with the Certified Negotiation Expert Designation. Agents who receive this certification are among the top agents in the country in negotiation skills.

Elba Barr has joined The Brown-

ing Group at RE/MAX Properties, Inc. Elba choose RE/MAX Properties, Inc. because the company truly fosters the entrepreneurial spirit and the RE/MAX brand has such an impact not just locally and nationally but internationally as well. Elba is retired military and an avid volunteer with the Girls Scouts and several veteran’s organizations.

Michelle Gutschick has joined the Dianna Doyle Team at RE/MAX Properties, Inc. Michelle has lived in Colorado Springs since she was 13 years old and even after leaving for college, she knew Colorado Springs was her forever home. She is excited to work with a team that she admires.

Creativity, tenacity, and compassion are traits that she brings to the table and she will work with her real estate clients to find the right way to get the job done and done well.

David Ellis Century 21 Curbow Realty I was drawn to the beauty of the Colorado Springs area when I moved here to attend Bible College from Florida, The Sunshine State, in 2013.

The communities around Colorado reflect the heart of the people that live here. I take pride in treating all my clients with respect and with a smile because I know that buying or selling a home is a life-changing experience.

Kevin McCormack Synergy Realty Group My 3 passions are service to country, service to people, and real estate.

After traveling the world with a career in the U.S. Air Force and as a government contractor, I knew I wanted to settle in Colorado and continue serving people with their real estate buying and selling needs. I have always said "Real Estate is in my blood," getting this from my father's passion for real estate as I remember as

a boy growing up in Tennessee. My father would buy property, fix them up into absolute show places, and resale them. Essentially, he would use my brother and I for hired help which taught us a good hard work ethic.

Lauren Collier, Rob Hoben Live Dream Colorado Collier is Broker-Owner and certified Luxury Home Expert with six years’ experience consulting prospective home sellers and marketing properties to sell. Hoben is broker associate with three years’ experience representing home buyers. Both are Master Certified Negotiation Experts through the Real Estate Negotiation Institute.

Lauren is past recipient of the Peak Producer recognition in 2015 and the “10 Best Real Estate Professionals in Colorado” award in 2015. Additionally, Collier is a Certified Military Housing Specialist and a certified Military Relocation Professional.

Collier and Hoben are best known for donating a portion of every sale to Trails and Open Space Coalition for the past three years, and for their mission to give back to schools through the Teacher Program in which the team gives to a school or school program of the teacher’s choice every time a teacher buys or sells a property with them. Collier is also well known in the business community for her role as the host of the popular business success show Idea Accelerator Podcast of Colorado Springs with Lauren Collier.

The pair proudly announce the opening of their new firm, Live Dream Colorado, with the Mission “To inspire spirited Coloradans to passionately Live out their boldest Dreams,” and the Promise “To provide the expert advice, best-in class service, and honest communication people need when making a move.” The two are known for their belief that “Property ownership is a meaningful personal experience for every person, bringing freedom, responsibility, stability, and comfort."

Colorado Springs Real Estate Journal www.csrej.com

13

Local Expert

DECADEnce

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

It has been about a decade since our decadence, the start of deterioration of the real estate market that was such a big part of the Great Recession. Yet after ten years, not only are we surviving but we have been thriving maybe because of it.

Back in the fall of 2007, we were listening on our new iPod Touch to “Rockstar” by Nickelback and getting “Stronger” (by Kanye West). “Who Knew” (by Pink) what was in store

By Michael Podoyak for us as sales prices were just 16 months away from tumbling Empire Title to their lowest values in years. Last month in the Pikes Peak — area, the Median Sales Price actually dropped to $275K. Ten years before the Median Sales Price was at $210K (before plummeting to $173K in January 2009 and lower still in January 2012). In ten years, our Median Sales Price has improved by $65K or 31%!

Median Sales Price

$310,000

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

$ 275,000

$290,000

$270,000

$250,000

$230,000

$210,000

Empire Title of Canon City

$170,000

$150,000

www.empirecanon.com

Sep-17 Jun-17 Mar-17 Dec-16 Sep-16 Jun-16 Mar-16 Dec-15 Sep-15 Jun-15 Mar-15 Dec-14 Sep-14 Jun-14 Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Dec-12 Sep-12 Jun-12 Mar-12 Dec-11 Sep-11 Jun-11 Mar-11 Dec-10 Sep-10 Jun-10 Mar-10 Dec-09 Sep-09 Jun-09 Mar-09 Dec-08 Sep-08 Jun-08 Mar-08 Dec-07 Sep-07 Jun-07 Mar-07 Dec-06 Sep-06 Jun-06 Mar-06 Dec-05 Sep-05 Jun-05 Mar-05 Dec-04 Sep-04 Jun-04 Mar-04 Dec-03 Sep-03 Jun-03 Mar-03

1220 Main St., Canon City, CO 81212 Phone: (719) 275-4900 - Fax: (719) 235-5029

$190,000

Back in the fall of 2007, “The Big Bang Theory” premiered on CBS while our market was experiencing a big bang in the number of listings on the market.

Last month there were 2,145 properties listed in the PPMLS; ten years before there were 6,767 – a difference of 4,622 more properties for sale (a 216% increase over what is on the market now).

We’re acting like a bunch of

Active Listings 8,000

It has now been 14 years of Empire Title expertly serving our local communities - assisting Sellers, Buyers, Homebuilders and Lenders on thousands of real estate transactions over this time.

We are Grateful & Honored for all of the Wonderful Friendships over the years!

6,000

5,000

2145

4,000

3,000

2,000

1,000

0

Jul-17 Apr-17 Jan-17 Oct-16 Jul-16 Apr-16 Jan-16 Oct-15 Jul-15 Apr-15 Jan-15 Oct-14 Jul-14 Apr-14 Jan-14 Oct-13 Jul-13 Apr-13 Jan-13 Oct-12 Jul-12 Apr-12 Jan-12 Oct-11 Jul-11 Apr-11 Jan-11 Oct-10 Jul-10 Apr-10 Jan-10 Oct-09 Jul-09 Apr-09 Jan-09 Oct-08 Jul-08 Apr-08 Jan-08 Oct-07 Jul-07 Apr-07 Jan-07 Oct-06 Jul-06 Apr-06 Jan-06 Oct-05 Jul-05 Apr-05 Jan-05 Oct-04 Jul-04 Apr-04 Jan-04 Oct-03 Jul-03

Thanks to your trust and loyalty, Empire has grown into the #1 Title Company for the last five years by transactions closed in El Paso and Teller Counties. And we now employ over 60 dedicated Associates that are committed to providing you and your clients with the best possible closing experience.

7,000

Back in the fall of 2007, “Superbad” was playing in theatres while also describing the sad state of home sales in our market. Last month there were 1,509 properties sold through the PPMLS; ten years before there were only 695 – a difference of 814 fewer sales (54% fewer than what was sold a month ago).

Number of Sales Per Month 2,000

1509

1,800 1,600 1,400 1,200 1,000 800 600 400 200

Bill & Ronda McAfee, Owners

Please think of Empire Title as your primary resource for all of your Escrow, Title, Short Sale and Marketing Needs.

WE DON’T SUCCEED UNLESS YOU DO!

14

www.csrej.com

Aug-17 May-17 Feb-17 Nov-16 Aug-16 May-16 Feb-16 Nov-15 Aug-15 May-15 Feb-15 Nov-14 Aug-14 May-14 Feb-14 Nov-13 Aug-13 May-13 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

0

Back in the fall of 2007, our country’s biggest criminals were all over television: “The Sopranos” had just won an Emmy for Outstanding Drama Series; and, O.J. Simpson was arrested on six felonies for the armed robbery of his own sports memorabilia in Las Vegas. The biggest crime in our local real estate market ten years ago was that Inventory stood then at 7.81 months compared to 1.59 months in September 2017. That abundance of inventory explains why 10.3% of the Active Listings were selling a decade ago, and last month 70.35% sold.

I am happy that we are not back in the fall of 2007 … but, boy, do I wish I was 10 years younger!

Colorado Springs Real Estate Journal

October 30, 2017

Around the Corner Wednesday, November 1 2017 MLO Update 8am-5pm @ Legacy Title asalladay@legacytitle-llc.com

Line 5 on the RPTD & Explaining it at Closing 1pm-3pm @ NAT – Cascade RSVP 719.373.5229, dcruz@nat.com

Saturday, November 4 Free Home Buying Seminar 10am-12pm @ Ent (Galley) ent.com/events 719-550-6670

Intro to Escrow 1pm-2pm @ Legacy Title asalladay@legacytitle-llc.com

Tuesday, November 7 eContracts for Beginners 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300

Council of Elite Property Managers 3pm-5pm @ PPAR www.ppar.org Wednesday, November 29 How Many Rentals to Retire 9am-11am @ Empire Title rsvp@etcos.com 719-884-5300

2017 AD DEADLINES Deadline

Distribution

Nov 16, 2017

Nov 27, 2017

Dec 13, 2017

Dec 26, 2017

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

Tuesday, November 28 2017 ACU 1pm-4pm @ Legacy Title asalladay@legacytitle-llc.com

Annual Commission Update 9am-1pm @ NAT – Cascade RSVP 719.373.5229, dcruz@nat.com Intermediate CTMeContracts 2pm-4pm @ Legacy Title asalladay@legacytitle-llc.com

THE

PERFECT COMBINATION

Wednesday, November 8 Fraud & Real Estate 10am-12pm @ Empire Title Woodland Park lori@empirewp.com 719-686-9888

OF THE GREAT INDOORS AND THE GREAT OUTDOORS

1031 Exchanges 3pm-5pm @ Empire Title rsvp@etcos.com 719-884-5300 Thursday, November 9 Farm and Land 8:30am @ The Egg and I - Chapel Hills Charlie Triplett: 719-896-1777 Women’s Council of Realtors Luncheon 11am-1pm @ The Mining Exchange 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

Now, even more choices await you at The Farm, a distinctive new master-planned community in northern Colorado Springs. Discover single-family home sites in a variety of lot sizes as two more builders contribute to our already eclectic mix of new homes.

Set against the backdrop of beautiful front range views, these new home collections will be thoughtfully integrated among protected open space, beautiful trails and a future Gathering Place nestled near the serene waters of Lake Ann. Visit The Farm to see how abundant the future could be!

Annual Commission Update 9am-1pm @ Empire Title rsvp@etcos.com 719-884-5300 Tuesday, November 14 NARPM Luncheon 11am-1pm @ Hotel Eleganté coloradosprings.narpm.org/events Advanced CTM eContracts 10am-12pm @ NAT – Cascade RSVP 719.373.5229, dcruz@nat.com Lunch & Learn: Working with VA Customers 11:45am-1pm @ NAT – Explorer RSVP 719.373.5229, dcruz@nat.com Behind the Scenes look at how Lending/ Lenders Work 9am-12pm @ Legacy Title asalladay@legacytitle-llc.com Wednesday, November 15 Annual Commission Update 1pm-5pm @ Empire Title Woodland Park lori@empirewp.com 719-686-9888 Renovation Lending 101 2pm-4pm @ NAT – Cascade RSVP 719.373.5229, dcruz@nat.com Renovation Financing 9am-11am @ Legacy Title asalladay@legacytitle-llc.com HBA Annual Membership Reception 4:30pm-6:30pm @ The Pinery www.cshba.com Thursday, November 16 Hard Money Lending 9am-11am @ Empire Title rsvp@etcos.com 719-884-5300 October 30, 2017

ADAMO HOMES 720.320.4959 | adamohomes.com

Single-family, low-maintenance and custom lots from the upper $300s to $1 million+.

Only a limited number of custom and low-maintenance homesites are available! Join our interest lists now

BROOKSTONE HOMES 719.494.5113 | brookstonecolorado.com GOETZMANN CUSTOM HOMES 719.548.1338 | goetzmannhomes.com SADDLETREE HOMES 719.593.1400 | saddletreehomes.com

for the opportunity to reserve your lot.

Visit TheFarmColorado.com to learn more.

VANTAGE HOMES 719.597.6373 | vhco.com

Colorado Springs Real Estate Journal www.csrej.com8/16/17

FAR-031 CSREJ_081517_FR2.indd 1

15

11:22 AM

NEW HOME SITES AVAILABLE

from the low 300’s

This convenient location offers easy access to work and higher education including UCCS and Pikes Peak Community College, you’ll find Shiloh Ranch offers convenience to entertainment and shopping along the Powers corridor, the Promenade Shops at Briargate, and Chapel Hills Mall.

Working out and spa services are also convenient at the nearby Villa Sport or Lifetime Fitness that offer a variety of workout options, classes, and indoor and outdoor swimming.

A round of golf is just minutes away at either Pine Creek Golf Club off Briargate Parkway to the north, Antler Creek Golf Course to the east, or Springs Ranch Golf Course to the south.

Ed Hafferkamp

Coy Raynor

EHafferkamp@aspenviewhomes.net 719-377-8338 CRaynor@aspenviewhomes.net 719-822-3480

AspenViewHomes.com The best move you’ll ever make.

REV 101617

E