07.21.08
Posted in Colorado Springs Real Estate at 8:18 am by Angela Byrne
I’ve seen how clutter can kill a home sale. Too much “stuff” can distract visitors and detract from their experience in the home. So, prior to putting your piece of Colorado Springs real estate on the market, why not have a great yard sale? Clearing out the house will not only provide you with a little fun money but chances are you’ll net more in your home sale, as well. This is how preparing a yard sale coudl make you thousands.
Here are a few things to remember:
1. Check your neighborhood rules and regulations to make sure you can have the yard sale when you want to. See if they have any signage restrictions, etc. that may affect your marketing.
2. Prepare ample signage to advertise the yard sale and your location. If you are off the beaten path, you may consider putting an ad in your community paper. Always advertise the sale online (on sites like CraigsList.com that are free).
3. Pick up plenty of change (especially quarters, one’s and five’s) so you can make change for purchases.
4. Label all items with price tags. You will always make more at the sale by starting the bidding (other than having visitors suggest sale prices).
5. Keep things in the driveway instead of in the garage. More people are likely to stop if you have plenty of tables and racks in full view from the road. Not enough stuff? Combine your sale with a few neighbors. You will get fewer drive-by’s and more visitors if it looks like it’s worth their while to stop.
6. Organize clothes by size. If parents are looking through clothes for their kiddos, make it easy for them to find everything in one spot. Their browse faster and will purchase more.
7. Keep pets inside. I can’t tell you how many times, I’ve had a “friendly” dog run me off from a good yard sale before I was really done looking. If you can keep them in the house, you’ll have more comfortable visitors.
8. Set the atmosphere with music. Invite neighborhood children to sell snacks or coffee.
9. Finally, call a local thrift store and schedule a pick up after the sale is over. You do NOT want to be carting these items back in the house. Afterall, the purpose of the sale is to de-clutter the house. Resist the temptation to hold on to things that you will never use again.
A little planning goes a long way for yard sales. You can even spread the work out over time if you think in advance. It’s worth your time and effort to clear out the house and make your home more saleable. If you have questions about getting your home on the market for sale, complete our Seller Packet Request and we’ll get a free copy to you ASAP.
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07.09.08
Posted in Colorado Springs Real Estate at 11:59 am by Angela Byrne
Courtney, our Buyer’s Agent, sent me this message from Chris Starks. Starks is a Senior Loan Officer with First Class Financial Services.
He writes to Realtors, but I thought the information was interesting and useful:
I hope this finds you doing well. We have received some great news from Fannie Mae - the Denver metro area as a whole is no longer considered a declining market…..this includes all counties other than Weld County and the Pueblo area. There are a few pockets in the state that are considered a declining market and it is on a case by case basis. As long as the investors automated system and the appraiser do not say it is a declining market then we are good! You can call me with the zip code of a property and I can tell you if it is considered declining or not.
What does this mean to your buyers? With the declining market designation, your buyers were having to put an extra 5% down - this is no longer a problem in most areas. As long as the investors automated system and the appraisal do not deem the property in a declining market - your investor is fine and is not having to put the extra 5% down.
Our (financial) investors have already started to follow suit and are allow financing to 95% on conventional loans. Condos are still to 90% even if they are not in a declining market (assuming your buyer is going conventional and not going FHA which allows for 97% financing and VA to 100%) because the private mortgage insurance (PMI) companies currently only insure condos to 90%. Again, the investors will go to 95% but there are currently no private mortgage insurance companies who will insure a condo to 95%. We are hoping this will change in the near future.
This is good news! Share this with your buyers and co-workers. Things are changing here locally and rates are still great. This is going to be a great summer!
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07.08.08
Posted in Colorado Springs Real Estate at 6:58 am by Angela Byrne
It’s easy to see what type of activity is going on with new construction in and around Colorado Springs by looking at the current builder permits. It’s interesting to see how many people are making improvements (as opposed to starting new construction projects). In 2006, we saw a total of 2,426 
new home permits pulled. In 2007, the number dropped drastically to 1,475. This year (as of May), we are on track to come back up again. The current number of permits pulled is 852. If that continues at the same pace, then we could see as high as 2,044 by year end. This is great because it shows that new home builders are showing their confidence in the market.
Conversely, the remodeling permits in 2006 were 3,777. In 2007, they were 3,302. As of May of 2008, we had already seen 4,177! That’s more than in the entire 12 months of the previous year! I think it’s because more people are investing in their homes and preparing them to sell at a later date…when the current inventory stabilizes.
For now, most builders are motivated to keep moving forward. This means they do not want to hold on to inventory that isn’t moving. I just met with some home Buyers at a Journey Homes rancher in the Falcon community of Parkview at Woodmen Hills. This home they had under contract about a year ago at $225,000. Unfortunately, they had some family issues to contend with and had to terminate their contract at that time. Now that things are better, they came back and the same home is still on the market…at a discounted price of $189,900. This is a brand new home, never lived in. It’s got a finished basement and backs to open space. What a deal! To top it off, we are going to get a free central airconditioning system installed and still have some of the closing costs paid by the builder. Not all builders are extending $35k discounts…but many are. I would venture to guess that they won’t be doing this in 6 months.
Take a peek at the current Colorado Springs new home inventory. And contact the Springs Living Team if you see any you would like to view in person. We can negotiate some great incentives for you…and our commission is paid by the builders, so great representation comes at no expense to you.
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07.03.08
Posted in Colorado Springs Real Estate at 3:59 pm by Angela Byrne
To some of you, this may seem like a silly topic. However, if you’ve ever lived in a old, creaky house frequented by eerie noises, unexplained icy drafts or shadowy figures, you may way to read on.
I always get funny looks from homeowners when I get to the part of the Listing Agreement that talks about “any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the Property.” This clause is listed in under the section that says ”Broker shall not disclose the following information without the informed consent of the Seller”. One example of one of a stigmatizing factor is a suspected haunted house. This means we are not required by the Colorado Real Estate Commission to disclose this. We are not even authorized to talk about this unless authorized by the homeowner.
So, what can you do to address any of your concerns? If I were working with a client who specifically wanted to avoid homes potentially “haunted”, I would first talk to the Listing Agent and the Seller. If we can convey that this type of activity is a “material fact” to you as the Buyer, we may be able to get the information we need. Next, if the homeowners or occupants are not available or are avoiding the conversation, it may be time to meet some of the neighbors. It’s important to remember that any second hand information may be exaggerated or even untrue (dependent upon the neighbors actual knowledge or their personal involvement).
To sum things up…even though disclosure isn’t required, you may be able to do your own investigation to get to the bottom of things. If you’d like more information about buying Colorado Springs real estate (haunted or not), give us a call!
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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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