Now is the Time to Sell Your Colorado Springs Home

If your plans include selling your home this year, there is no time like the present when it comes to listing your property, especially with a market such as Colorado Springs and El Paso County are experiencing. Reviewing the latest market data released by the Colorado Association of Realtors®  (CAR), will tell you, we are definitely in a strong seller’s market. With conditions anticipated to continue in a similar fashion, listing your home now could pay off with a sale you can be thrilled with.

December, 2016 stats have been released by CAR, and they provide some key insight into one of the main reasons we are in a seller’s market. It’s all about Supply vs Demand. As of the end of 2016, our region had only 1.3 months worth of supply available on the market. In essence, it will take just 1.3 months to sell all the active listings, if no new listings were added. But what does this really mean and does it matter?

Real estate markets with shorter Days on Market (DOM) averages have more buyers seeking property compared to areas with longer DOM averages. El Paso County has been growing in popularity and attracting a greater number of buyers, which is also reflected in the December sales results. We saw an 11.1% increase in the number of sales completed to the year prior, with average sale prices rising by 6/7%, to $290,000 for single-family homes.

Not only is the region growing in desirability for homebuyers, more people are also eager to buy. There is an increasing time crunch which many buyers are now facing. Mortgage interest rates have begun a steady climb upward. Current 30-year fixed mortgages are hovering just below and above 4.00%, and they are expected to continue to rise. While this is still an historically low rate, many homebuyers see the writing on the wall, and are ready to get financing now before the rates go much higher.

The real estate market in Colorado Springs and around El Paso County is a strong one. We have a

variety of economic opportunities which are thriving in our region. These include education and health services, military and community developments, as well as recreational and tourism attractions. These aspects and amenities are bringing more people to our area, and it doesn’t look like there will be a slow-down any time soon.

Listing your home now, as we head into the busy spring season, could help you gain a higher price with a quick turnaround. If you are ready to get started, you will want to know the value of your home. A great way to do this is with our free report, What’s My Home Worth?  A few pieces of information is all we need to prepare a market-value estimate and comparison of other houses in your neighborhood. Knowing what homes are selling for nearby will help you establish the best list price for your property.

Whether you are buying or selling your home, connecting with a Realtor® who understands the community and local market, provides you with the ideal resource. This can make a big difference in how happy you are with the process, and the results. We at Springs LifeStyles Real Estate are here to help you with all your real estate needs! Call Kathy Stenberg at (719) 963-4867 or you can email her at springslifestyles@gmail.com You can also visit us at our website for available listings and additional information.

El Paso County Public Health Requires OWTS Inspections

If you own a home in El Paso County and plan to sell, there is a required inspection you may need to know about. If your property includes an On-Site Wastewater Treatment System (OWTS), or septic tank, El Paso County Public Health (EPCHP) regulations require a timely inspection be completed prior to closing, with a County Acceptance Document of the inspection included as part of the Title transfer paperwork.

Effective since January 1, 2015, these inspections were put in place to help protect both sellers and buyers. The current owner of a property is responsible for having the inspection done. The County has a list of approved, independent contractors who are able to complete an OWTS inspection. The aim of these inspections is to confirm the system is working properly prior to the sale of a property. If there are issues discovered in the process, sellers and buyers are given an opportunity to determine how to proceed with repairs, including which party will be responsible.

As inspection results are only valid for 6 months, getting one done early is not recommended, as you may have to have one done again. Instead, if you have an OWTS on your property, I recommend including the information in the initial disclosures provided during the sale process. A passing inspection will result in an Acceptance Document which is provided by El Paso County Public Health, and to be included within the Title Transference documentation.

If an inspection fails, homeowners typically have 90 days to have any needed repairs completed. Should a serious issue be discovered, the EPCPH will determine the necessary timeframe for repairs to be done. As a seller, if you are dealt with a failing inspection, the sale of your property can still continue. The EPCPH will provide a Conditional Acceptance document so the sale can move forward. In certain cases, repairs may require a permit from El Paso County as well. If needed, proof of permits should also be included with your OWTS Inspection documents.  

If for some reason a seller is unable to take care of repairs, a buyer can take on the responsibility of the repairs after the sale has closed, so long as they are done within 90 days of occupying the property. For buyers putting an offer on properties with an OWTS, I recommend including within your buyer contingencies whether you are willing to take on possible repairs, and if so to adjust your purchase prices offer accordingly. Including such items within your contingencies will give you an extra layer of protection. 

There is a specific process to be followed when it comes to getting an OWTS inspection done. The best approach is to familiarize yourself with the process by reviewing the information on the EPCPH website, including a list of approved inspectors. Your Realtor® is also an ideal resource to ensure the process is completed properly, that reports are filed and documentation is received by the correct parties, including the Title Company handling your closing. While it is a seller’s responsibility in the end, having a supportive Realtor® who understands the Transfer of Title Inspection regulation, will make the transfer of property less stressful for you.

Whether you are buying or selling your home, connecting with a Realtor® who understands the community and local regulations, provides you with the ideal resource. This can make a big difference in how happy you are with the process, and the results. We at Springs LifeStyles Real Estate are here to help you with all your real estate needs! Call Kathy Stenberg at (719) 963-4867 or you can email her at springslifestyles@gmail.com You can also visit us at our website for available listings and additional information.

Rainbow Falls Makes History in El Paso County

Throughout El Paso County, we are fortunate to have retained many significant, historical sites. When we can connect with our past, we can enhance our present and future by being able to explore and experience these places ourselves. This region is full of colorful history.  Our natural history has been the backdrop of many historical eras since before Old Colorado City was built. We now have another unique, natural landmark which has been designated an historical site, Rainbow Falls near Manitou Springs.

The Colorado Springs Gazette recently published an article on the latest announcement from the El

Paso County’s board of commissioners, confirming a unanimous vote in favor of naming Rainbow Falls a historic location. This reclassification of this site will provide funding and manpower to return this area to its natural glory. Unfortunately, in the past few years Rainbow Falls has become a place known more for graffiti than for its natural beauty. This is due in large part to the lack of regulated access hours or the presence of security and county employees to manage it.  These circumstances will change with the historical site classification.

With the board of commissioners’ vote, local funding and grants to the tune of$500,000 will be provided to repair areas damaged by the Waldo Canyon fire of 2012. Vandalism damages will also be cleaned up. To further preserve the site and prepare it for visitors, improvements to parking and trails around the falls will be completed in 2017. Once the renovation to Rainbow Falls is complete the site will be open to the public and managed by El Paso County staff and volunteers.

02The historical designation of Rainbow Falls will give residents and visitors alike, another beautiful natural site to explore. Within the 5-acre site, there is not only the main waterfall, but also a series of smaller falls that can be accessed downstream. This location has long been held as special, since the time of the first residents here, the Ute Indian Tribe known as the “Sun Mountain People.” The historic Highway 24 Bridge, crosses Fountain Creek near Rainbow Falls, leading visitors into Manitou Springs. Since the bridge was built in 1932, even more people have been drawn to this special place. Soon it will again be available for everyone to enjoy.

El Paso County is full of history and natural beauty. As we protect and preserve our past, we can continue to experience the wonders of this region ourselves, as a community which cares. Whether you are buying or selling your home, connecting with a Realtor® who understands the community, provides you with the ideal local resource. This can make a big difference in how happy you are with the process, and the results. We atSprings LifeStyles Real Estate are here to help you with all your real estate needs! Call Kathy Stenberg at (719) 963-4867 or you can email her at springslifestyles@gmail.com You can also visit us at our website for available listings and additional information.

What’s Happening in January Around Colorado Springs

The start of a new year is right around the corner. We will close the door on 2016 and open a new one on New Year’s Eve to welcome 2017. Winter is also in full swing here in the Pike’s Peak region. Colorado living doesn’t slow down with the cold weather or snow. There are still plenty of fun events and exciting things to experience with friends and family throughout January. It’s easy to chase away the winter blues here with so much to do. Check out some ideas below, and have a Happy New Year!

Many of us start the year with new resolutions. If yours is for healthier living, you won’t want to miss the annual Colorado Springs Health Expo, coming Saturday, January 7th. This free expo will be held at the City Auditorium, and will offer not only classes and seminars, but also the chance to visit a variety of exhibitors ready to show off their latest products and services to help you live healthy and feel great.

One of downtown Colorado Springs most popular winter traditions will soon wind down. Skate at the Park is still going on, but only until Monday, January 16th. As the only outdoor skating rink in town, this is an ideal way to enjoy some winter recreation and fun for all ages. The last few skating dates include some special extras, too, such as skating with Team USA members of our Olympic Skating team on January 7th, and Skating with the Air Force hockey team, The Falcons, on January 15th.

If you have ever wanted to experience the spell-bounding, awe-inspiring acrobatic feats of Cirque de Soleil, your chance is here. For five days only, Wednesday, January 18th through Sunday, January 22nd, this world-renowned performance circus will present Ovo at The Broadmoor World Arena. The space will come alive with the busy and colorful life of insects, including a sweet love story, too.  

For one last ‘holiday bash’, head over to Manitou Springs on Saturday, January 28th, with your leftover fruit cake, and toss it. The ever-popular Manitou Springs Great Fruit Cake Toss will take place at Memorial Park; it’s family-friendly and free to attend. You can even ‘rent’ a piece of cake if you didn’t get any this year. Find out which local baker will be crowned the Queen or King of Fruitcakes. 2017 marks the 20th year of this fun community event, which also includes a nonperishable food drive for St. Andrews Food Bank.

I love Colorado Springs and am passionate about our community, and my clients. When you are ready to sell, or buy your home, working with a Realtor who is passionate about how they can help you will make the process easier and a pleasure. We at Springs LifeStyles Real Estate are here to help you with all your real estate needs! Call Kathy Stenberg at (719) 963-4867, or you can email her at springslifestyles@gmail.com You can also visit us at our website for available listings and additional information.