Introducing....

I am excited to introduce you to my executive assistant, Karen Williamson. I've known Karen for over 8 years and we have previously worked together. She has experience in both real estate and mortgage (just like me). I'm very excited that Karen has joined my team and look forward to her attention to detail, organization, and commitment in assisting me and you.

Beautiful Home on 19.5 acres

Check out this gorgeous home located on Old Ranch Road in Black Forest, Colorado Springs.

This lovely home has seven bedrooms and four bathrooms.
It is located on 19.55 acres.

For more details, visit my web site. The price has just been reduced!

National Association of Realtors Press Release

KATHY STENBERG Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales

Colorado Springs, Colorado, January 2010 - Kathy Stenberg has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves.

Please contact Kathy at 719-963-4867 to learn more about her new designation or if you are interested in listing your current home or buying a new home.

FHA to Reduce Risk

Today HUD Secretary Shaun Donovan announced some very important changes to FHA guidelines that will be implemented as early as the first quarter in 2010.

Below is an excerpt from today’s testimony by HUD Secretary Shaun Donovan. You can find the entire written testimony by clicking here.

An initial measure is to reduce the maximum permissible seller concession from its current 6 percent level to 3 percent, which is in line with industry norms, and we will continue to consider additional reductions. The current level exposes the FHA to excess risk by creating incentives to inflate appraised value.

Secondly, to protect the fund from the riskiest borrowers, we will for the time being also raise the minimum FICO score for new FHA borrowers.

We are currently analyzing what this floor should be, including the relationship between FICO scores and downpayments to determine whether we should increase FICO minimums in combination with changes to other underwriting criteria for lower downpayment loans.

Third, we have made the decision to exercise our authority to increase the up-front cash that a borrower has to bring to the table in an FHA-backed loan – to make sure that FHA borrowers have more “skin in the game” and a stronger equity position in their loans. There are several ways to accomplish this, and so we are currently analyzing various options to determine which is the most effective and consistent with our mission.

Finally, we are examining our mortgage insurance premium structure to determine whether an increase is needed and, if so, whether it should be the up-front premium, the annual premium or both. Our current up-front premium of 1.75 percent is below the statutory cap of 3 percent, while the annual premium is currently at the statutory maximum. To protect against future uncertainty in market conditions, we are requesting authority from Congress to raise annual premiums, as this is one of the most effective means of raising capital for the fund with the least impact per borrower.

Indeed, while most of these changes I’ve just described we can make on our own with no additional authority—and we expect to provide detail and public guidance for these changes by the end of January—in some cases, we will need Congress’ help. In addition to asking Congress to increase the current cap on the annual mortgage insurance premium for new borrowers, we are asking for additional authority for our proposals to hold all FHA lenders responsible for their fraud or misrepresentations by indemnifying the FHA fund. We will also be asking Congress to expand FHA’s ability to hold lenders accountable nationally for their performance as I mentioned earlier.

Feel free to call me at 719-963-4867 if you have any questions.

The World’s Most Expensive Homes

Some sellers still certain their nine-figure properties will attract buyers

Last year, a 40-acre Greenwich, Conn., property with a 21,897-square-foot, 14-bedroom Jacobean manor was listed for $125 million. It was the world's second most expensive home for sale.

It now sports a $60 million price tag and falls just short of making this year's list.

It's no secret sellers across the country are resorting to measures such as price cuts of 20 percent and higher to move their homes. What's new: That group is increasingly including owners of eight- and nine-figure properties. Last year, investor Marty Zweig pulled the $70 million Pierre Hotel penthouse off the market after it was listed for four years. Financier Leonard Ross, who had asked $165 million for the Hearst Mansion in Beverly Hills, Calif., de-listed it in September 2008. A few months later, Prince Bandar of Saudi Arabia removed his $135 million Aspen ski lodge from the ranks of available listings. This year, "Hillendale," in Stamford, Conn., fell victim to the depressed housing market. It was listed for $95 million. It's no longer for sale. Others, such as the owners of an $85 million Wallace Neff-designed mansion, are leasing their properties until the market picks up.

See full story compliments of Forbes.com.

The most expensive home in Colorado Springs $5.9 Million - 2354 Stratton Forest Heights.

1231 Ancestra Dr

Six bedroom, four bathroom home built in 2002. Walk out Basement. Close to military bases.

OPEN HOUSE TODAY MONUMENT

Open house Sunday, June 21st 1:00 p.m. to 4:00 p.m.

Beautiful like new home in Monument. Gated community. Maintenance free exterior. 4 bedroom, 3 bath, formal dining room, eat in kitchen with island and stainless steel appliances.

Large basement with wet bar and room to add another bedroom and bath.

Come by and take a look!

Uniform Short-Sales Guidelines in the Works

Extensive delays in the short-sale process has caused many buyers to go elsewhere and have left would-be sellers with no option but foreclosure. But the picture is improving. This week the U.S. Treasury announced that it would be providing incentives for borrowers and mortgage services to pursue short sales and other foreclosure alternatives. The program includes a standard short-sales process flow, minimum performance timeframes, and standard documentation, the U.S. Treasury says. (More information is available on the Treasury Web site and in this PDF document posted at REALTOR.org.)The incentives and process guidelines are part of a larger initiative called Making Home Affordable, which helps home owners refinance to avoid losing their home. “NAR is pleased that the government is stepping in to help prevent foreclosures by streamlining the short-sale and deeds-in-lieu process,” NATIONAL ASSOCIATION OF REALTORS® President Charles McMillan said in a statement. “NAR has been calling for uniform short sales procedures and other initiatives that will help today’s home owners in challenging economy.”
Click here for the full article by Brian Summerfield, REALTOR® Magazine

New Listing - 1470 Symphony Heights

Beautiful, like new home in gated community in Monument. Maintenance free, Front and back landscaping. Large home with main level master suite and 2 sided fireplace. Eat in kitchen with large kitchen island, granite counter tops, birch cabinets, and stainless steel appliances. Formal dining room with nook.
A must see, priced at $425,000.

New Listing - Great for Investors!!

I am listing a new home today that is bank owned. The address is 4107 Palmer Park Blvd. The price is $100,000 and this is a great price for a first time home buyer or investor. The home is over 1900 square feet with 4 bedrooms and 2 baths. It has an attached one car garage and a large backyard. Give me a call if you are interested in taking a look.