06.30.08
Posted in Colorado Springs Real Estate at 11:26 am by Angela Byrne
I don’t think it’s difficult to see how working with a recognizable company like RE/MAX Properties can 
benefit you in a home sale. But what about the reputation of the specific Realtor you hire to represent you? Does it matter?
I would argue that recognition and trust are some of the most important qualities that people look for when selecting a Realtor. In fact, Quality Service Certification (QSC) tracks the way that home buyers find the homes they end up purchasing. According to their latest study:
9.45% “knew the associate personally”
5.4% were a “satisfied past customer” of the Realtor
6.75% looked for “company name and reputation”
These numbers translate to 21.6% of Buyers acting on relationships and recognition.
Besides having someone you feel comfortable with (and an agent who will truly represent you as an advocate) what are some of the other benefits of listing your home with a professional who has a good reputation?
- They know the market (and Buyers see this).
I get calls from Buyers who see/hear my name in the neighborhood. I can tell them about the trends and the activity. Then I am able to give them more details about the homes I have listed for sale that meet their needs. This turns experience into qualified Buyers viewing the homes I represent.
- They get people to act.
Having the right information come from a reliable source means people can let their force field down and really interact with the experience. A home purchase is a big stop for a lot of people. Most approach the activity with their guard up. When they come into contact with a Realtor who is trustworthy (and can prove it) they are more likely to act.
- They attract cooperating Brokers.
There are Realtors around Colorado Springs, especially those at limited service brokerages who have the reputation that they don’t facilitate fair negotiations or easy communication. With so much inventory out there, why deal with dishonest people? In fact, I feel it’s my duty when working with Buyers to inform them of my previous dealings with real estate agents (whether good or bad) so they can decide which people they would like to deal with.
When you make the decision to list your home with a Realtor with a good reputation, you get more showing activity. This often results in more offers, a quicker and more profitable sale. Don’t overlook the warning signs when you interview Realtors. Work with someone who is honest, ethical and has your best interests at heart.
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06.27.08
Posted in Colorado Springs Real Estate at 7:14 am by Angela Byrne
I just finished listening to a program about the state of the real estate market across the nation. There are a lot of great things happening and many major predictions are calling for a strong real estate year in 2009. I think this is very possible…both for our nation and for the Colorado Springs real estate market. Why is this? Because a lot of home buyers who have been sitting on the fence waiting for things to begin appreciating again are starting to make their move. Buyers are realizing that now is the time to make a move and they are acting in droves.
First of all, real estate is a viable way to grow wealth, isn’t it? Think of the people you know who have accumulating great wealth over their lifetimes. The vast majority of them have real estate holdings, don’t they? According to a study conducted by PMI Group, Inc. (a Private Mortgage Insurance Company) that was released in February, investing in real estate brings a return that most other investments cannot touch. They looked at 5,000 homeowners who put an average of just under 20% down on their home purchase. They learned that their return on investment (ROI) after 5 years was approximately 135%! When they held a home for 10 years, the return was 301%. Amazingly, after 15 years, homeowners’ ROI was 495%. I don’t know of any other investment vehicle that nets this sort of wealth development. Do you?
If you look at the last 18 months, values may have been flat (or even declined). However, as they mentioned in this program, “those who invest in real estate are not day traders”. They understand that real estate needs to be held longer. When those who purchased real estate 18 months ago sell in a couple of years, they are going to recoup their initial investment with numbers similar to those in the last paragraph.
There are normally two costs when someone buys the house…the cost of the home and the cost of the financing. Allow me to play Devil’s Advocate. If the real estate market declines 8% over the next 6 months (which NO ONE is predicting…especially in our Colorado Springs real estate market), if someone buys a home now they will still be doing better than if they wait 6 months and finance with a 1% higher interest rate.
The other part of the picture (of course) is the fact that there is more inventory out there and better deals to be made now than anytime in the last 5 years. Now is the time to make the move. You may be more excited about finding a home that is safe and comfortable…however, you cannot ignore the fact that a home is a great way to grow your wealth. Contact me if you are looking for a great Colorado Springs buyer’s agent.
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06.18.08
Posted in Colorado Springs Real Estate at 11:13 am by Angela Byrne
I was recently talking to an acquaintance who had his house listed with another Realtor for sale and for lease. The idea was they would work together and move forward with whatever prospect they came across 
first (buyer or renter). The family was moving out of state and they wanted resolution quickly so they wouldn’t have to pay two mortgages after their relocation.
While they were working together, I received a call from a tenant in our area who was interested in the house. She had attempted to contact the office of the listing agent to schedule a showing, but was declined. They told her that she would not be able to see the home unless accompanied by a real estate agent. When she called me, I agreed to show her the property. Afterwards, she completed an application and awaited an answer. I called the listing agent several times to see why the application wasn’t being processed. He explained that the family was trying to decide whether to allow cats (since this tenant had one). Eventually, the tenant had to go find another rental property since a decision wasn’t being made and she had to move out of her current rental.
When I was talking with the homeowner about the situation, he was shocked to hear that an application was submitted. His agent NEVER TOLD HIM about the tenant. I explained how interested the tenant was and how she was disappointed that her interest wasn’t answered. Furthermore, the homeowner said that they had NO concerns about having cats in the property (since they already have two cats residing there).
What happened here? First of all, their real estate agent who was bound to work in a fiduciary capacity for them, violated their Exclusive Right to Sell agreement. He failed to keep their interests at heart. He was only looking out to make the bigger commission on the sale….and not the lesser commission on the lease. He cost the homeowners lost rental income and peace of mind. They are stressed now about not having someone in the house when they move. IMHO, this real estate agent should be reported to the real estate commission.
So, what are the responsibilities that a Realtor has to a client when they enter into an Exclusive Right to Sell listing agreement? Here’s an excerpt from this Commission-approved listing agreement:
BROKERAGE SERVICES AND DUTIES. Brokerage Firm, acting through Broker, shall provide brokerage services to Seller. The Broker, acting as either a Transaction-Broker or a Seller s Agent, shall perform the following Uniform Duties when working with Seller:
A. Broker shall exercise reasonable skill and care for Seller, including, but not limited to the following:
- Performing the terms of any written or oral agreement with Seller;
- Presenting all offers to and from Seller in a timely manner regardless of whether the Property is subject to a contract for Sale;
- Disclosing to Seller adverse material facts actually known by Broker;
- Advising Seller regarding the transaction and to obtain expert advice as to material matters about which Broker knows but the specifics of which are beyond the expertise of Broker;
- Accounting in a timely manner for all money and property received; and
- Keeping Seller fully informed regarding the transaction.
B. Broker shall not disclose the following information without the informed consent of Seller:
- That Seller is willing to accept less than the asking price for the Property;
- What the motivating factors are for Seller to sell the Property;
- That Seller will agree to financing terms other than those offered;
- Any material information about Seller unless disclosure is required by law or failure to disclose such information would constitute fraud or dishonest dealing; or
- Any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the Property.
Real estate agents who do not follow these obligations need to be held accountable. The Exclusive Right to Sell is an agreement that has obligations to both parties. It is not okay for the client to hold up their end of the agreement, but not the agent.
As I work with my clients as their listing agent I pledge to do the following: “1. Promoting the interests of Seller with the utmost good faith, loyalty and fidelity. 1. Seeking a price and terms that are acceptable to Seller. 3. Counseling Seller as to any material benefits or risks of a transaction that are actually known by Broker. ” These items are also part of the listing agreement.
Let me know if you’d like a free packet about the services I provide as a listing agent.
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06.17.08
Posted in Colorado Springs Real Estate at 7:38 am by Angela Byrne
As I write this, I am enjoying a hot cup of Columbia Excelso (Rainforest Alliance Certified) dark roast coffee from R & R Coffee Cafe. I am a self-professed coffee junkie. Rarely will my day start without a steaming latte or a nice hot brew at home. In marketing Colorado Springs homes, I always mention the surrounding amenities that I believe help people feel more at home in a new area.
If relocating to the Black Forest region, I would share R & R Coffee Cafe as one of the pluses. I do this because when folks are looking for a new home, they are not just looking at four walls and a roof. Neighbors and neighborhood can also make-or-break their experience in their new home. If I were shopping for a home, and I found two properties with very similar features…the area amenities (like great local coffee shops) would impact my decision on which one to purchase. I think most people feel this way.
Here are a few other local coffee shops with attentive service, amazing coffee and food selections, nice atmospheres, even some with in-house bean roasting.
Whatever it is that gets you interested in and excited about an area, I would love to help you find Colorado Springs real estate nearby. Just contact me for a list of homes that are close to your hobbies, interests and those that match your area preferences.
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06.12.08
Posted in Colorado Springs Real Estate at 8:20 am by Angela Byrne
Falcon, Colorado is a town about 7 miles east of Colorado Springs. The area is characterized by gently 
rolling prairie land. Most homes have views of Pikes Peak and the front range in the distance. Each year, residents enjoy local events like the Falcon Festival and Falcon Freedom Days (normally around Independence Day). There is even rumor of a farmer’s market coming to the area soon.
There are several larger platted communities in the Falcon area. As you go east of the center of Falcon, you’ll start to see larger parcels (from 5 acres up). If you are looking for Falcon Colorado real estate, the platted communities are where you can find Woodmen Hills homes for sale, Meridian Ranch real estate, Falcon Ranchettes real estate, Falcon Estates real estate, Falcon Hills, and more.
Since January 1, 2008 here are the stats for the Falcon MLS area:
- There have been 244 sales.
- These are all Single Family Homes (except 9 townhomes that sold in Claremont Ranch which is also considered the Falcon MLS area even though it’s closer to the intersection of Hwy 24 and Constitution.
- The average list price was $248,177
- The average sale price was $242,837
- The average days on market was 138 days
- Right now the Days Supply (or Absorption Rate) for Falcon Colorado homes for sale is 235 days.
To see a full statistical report about these 244 homes, take a look at this list of properties.
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06.11.08
Posted in Colorado Springs Real Estate at 3:17 pm by Angela Byrne
The Internet is one of the most effective places to market homes these days. Where else can detailed descriptions, multiple color photos and extensive neighborhood information be shared in an organized and easy to deciper method?
While I still advertise homes utilizing different print media, direct mail, etc., the Internet has been a great source of qualified and educated Buyers. The stats prove that Buyers doing their homework online are a smart and prepared group of consumers. They are more educated on the buying process than most others.
Here are the online websites and portals where we advertise the Colorado Springs real estate that we represent:
www.SpringsLiving.com Our custom website with lots of area information (and ALL homes for sale)
www.MovingColoradoSprings.com Our basic template site advertised as part of our corporate website
www.Realtor.com The #1 residential real estate website in the US. We have upgraded to the Showcase status which means our listings have multiple photos, more detailed descriptions and links back to our website.
www.remax.com The #2 residential real estate website in the US.
www.Homes.com A large nationwide website
www.CraigsList.org A classified site that attracts visitors to look for local deals…especially Colorado Springs real estate.
www.MilitaryByOwner.com Not just for unrepresented Sellers! Lots of military folks like to look here.
www.coloradohi.com/ The website operated in conjuction with the “Homes Illustrated Magazine”
Our homes for sale are also listed on sites managed by:
- Our real estate brokerage
- The Pikes Peak Association of Realtors site
This is not a comprehensive list, but it gives you a good idea of the most productive sites we employ. I find it extremely helpful when we are communicating with people overseas (who are searching for homes when its 2am here and we are asleep). We can showcase the properties we represent 24 hours/day to people all over the world. If you find yourself beginning a home search and you’d like to take a look at a comprehensive list of homes for sale, go to our site to find them all www.SpringsLiving.com.
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06.09.08
Posted in Colorado Springs Real Estate at 7:45 am by Angela Byrne
There are many areas around the Pikes Peak region where you can find suitable horse property. A lot of people are opting to buy horse property instead of boarding. They get more time with their horses on a regular basis and they save the high boarding fees each month. When contemplating the purchase of land that can sustain horses in a comfortable and adequate environment, there are several things to investigate:
1. How much land is enough to support the number of animals you have?
2. Does the well permit support the watering of domestic animals?
3. Is the current fencing adequate?
4. Are the outbuildings safe and acceptable? Is there electric and water to the barn?
5. Are there local places to ride without having to trailer the animals?
6. Is there evidence of noxious weeds in the area?
7. Is there a reliable vet nearby?
Taking the time to investigate the answers to these questions is imperative. Can you imagine buying a home for you and your horses, only to find out that the current well permit does not allow you to water them?
Some of the known areas for horse properties are: Black Forest, the Eastern Plains, Falcon, Peyton, Rock Creek and some areas of Fountain. Before you make a move with your horses, consult an experienced Colorado Springs real estate agent and make sure your interests (and those of your loved pets) are covered.
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06.04.08
Posted in Colorado Springs Real Estate at 7:57 am by Angela Byrne
I’ve shown thousands of homes to qualified home buyers throughout the Pikes Peak region. There are still a 
handful that I remember vividly (and will continue to remember for years to come). Most of the time, these memorable properties were the ones that the Buyers very seriously considered in their search. They all sold very quickly. What was it that caused them to stand out above the others?
First of all, it wasn’t necessarily floorplan (where the master was situated, how the kitchen flowed into the living space, etc.) It was really the feel that was delivered through our visit(s). Here’s what I observed:
1. Beautiful “things” in the home. For example, tastefully furnished living spaces with complimentary accent pieces. This is what you see in model homes. Each room is not crowded or cluttered with personal property. Instead, the items are carefully arranged so the visitor can easily visualize themselves enjoying the space. Sometimes military families have collected larger pieces of furniture over their tours to other area. These are the folks who are going to be most concerned about room size accommodating furniture. If a rooms is packed in, they may get the false impression that their treasures won’t fit in the space.
2. Light and bright. Oftentimes, I could tell that the homeowner was prepared for our visit. They opened the blinds and turned on all of the lights. This is especially important if there are darker rooms or a basement to show. Shadowed rooms appear smaller and uninviting. Lighting can change the overall impression that a visitor has with the flick of a switch.
3. Prepared smells. I’ve said it before, and I’ll say it again, “If I can smell it, I can’t sell it.” It’s one thing to know that there are pets present in a home. It’s another to smell them. These kinds of odors are obviously the ones we didn’t notice in exemplary properties. In these memorable homes, the scent was subtle and good. Normally plug-in deoderizers are too strong. A good smell experience is usually acheived by a warm potpourri or a wick/reed system. These diffuse scent that reminds one of natural things (flowers, grass, etc).
Overall, the experience encompasses all of the senses. Buyers have an emotional connection because of the temperature, the color of the walls, the sound of soft music, and more. These three items (above) are things that really stand out to me. The homeowners obviously went above and beyond to craft the showing for the Buyers. This is where time and thoughtful intention helped the Sellers make more money in the sale. Let me know if you’d like more home staging tips or a free Seller Information Packet.
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06.03.08
Posted in Colorado Springs Real Estate at 9:23 am by Angela Byrne
Working through a successful real estate transaction doesn’t just happen automatically. It takes time and patience. It requires flexibility. Unfortunately, these compromises don’t always come naturally…especially when one strong personality is against another. I’ve seen deals fall apart more than once due to stubborn pride and ego. When two parties come to the conclusion of their journey and they meet at the closing table everyone wins.
How do we make it that far? For one, those involved choose their battles. Not every inclusion or deadline or condition is a deal-breaker. It may feel like it sometimes, but it’s not. There are things that are more important because they affect the well-being, the comfort, the security or the happiness of those involved. I heard an excellent speaker once who challenged the audience to reduce stress by letting go of those less important items. She explained that if the source of stress would be remembered in a year, then it may be worth addressing directly. For example, are you going to remember that guy who just cut you off on the interstate…one year from now? Probably not. Same goes for a real estate transaction. If you aren’t going to remember whether or not the other party agreed to replace a burned out light bulb in a year, then let it go. Instead, focus your energy on negotiating for a better closing date so you don’t have to miss that planned family vacation.
Learn to offer a little wiggle room in order to get some in return. When one party attempts to bully their way through a transaction, it inevitably spirals out of control. The other party feels threatened and they withdraw from the deal in any way possible. Making a move can be a fun change in life. However, when someone else is always trying to force your next step, it can become very uncomfortable. Don’t push until you demand a flight-or-fight response from the other party.
Finally, try to humanize your requests. For example, if you are military and you need to have orders inhand before you can close the deal, explain the situation in a letter to the Sellers. Sometimes showing the gray areas will encourage flexibility in others. It’s easy when we use so much paper (contracts, addenda, disclosures) to forget that the names on the paper represent real people. Working with a Colorado Springs real estate agent can be beneficial in calming tense situations, in putting things into perspective and in finding creative ways to communicate needs and preferences. So, take a deep breath and begin.
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06.02.08
Posted in Colorado Springs Real Estate at 7:11 am by Angela Byrne
Whether you are buying your next home to occupy short-term or long-term…or not at all (ie; investment property), resale value should always be taken into consideration. Here are some questions to ponder when looking into your next purchase of Colorado Springs real estate.
What is the current zoning and usage of the surrounding parcels? If you are unsure of what the zoning means (or the allowed usage) visit Colorado Springs City Zoning. Be cautious about surrounding areas that 
are labeled “open space”. This term doesn’t really mean anything except the land is currently vacant. This could change at any time - leaving you with a commerical shopping center next door.
Also pay careful attention to what’s going on with existing neighbors:
- Traffic patterns (both air and auto)
- Smells (retention ponds, etc)
- Sounds (barking dogs, industrial areas, train tracks)
I have a family member in Arkansas who had a neighbor who slowly collected ’stuff’ until the house looked like a real junk yard on approach. She talked to him several times about cleaning it up and eventually had to get county officials involved. It was a slow, painful, time-consuming battle. The only reason it got cleaned up is because the owner eventually went to jail on another offense! If you visit a property and it appears that a neighbor is having an eternal garage sale, then you may want to decide if it’s a battle you care to fight.
If there are multi-family units, commerical space, a busy street, or other challenges, try to visit the property at various times of the day to see how these surroundings affect the property. Put yourself in the shoes of other potential Buyers. Will they seriously consider the property with all current factors the same? Or, would a substantial discount be expected to overcome the issues? Be objective and realistic.
Everyone has different preferences. Something you can get past may not be a surmountable obstacle for others. If you’ve got something that will be tough to resale, be sure you get a good enough price that you have room to negotiate later. Or, be sure you get a value that allows you to “fix” the problem (building a privacy fence, etc.) so it won’t impact future Buyers in the same way.
As long as you take the time to really research the subject property, any future objections can be tackled with confidence. Thus, presenting you with an easy and profitable sale.
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