Smart Home-Buying Questions - Part One

If you are looking to buy a home, whether it is your first one, or it’s time for a change, you will have a lot of questions to ask, and that is a good thing. As a homebuyer, you want to know what you are getting into by purchasing property. Questions begin as soon as you start your home search.

How much of a mortgage can I qualify for, and afford? How much of a down payment should I have? Are there homebuyer programs available to help? What are the Realtor® commissions and closing costs and fees? These are great questions to ask, but there are also important questions to ask when you come across a home you want to make an offer on. In this two-part blog, you can learn what these questions are and how they can help find the right home for you.

What are the average monthly maintenance and utility costs?  Starting with an idea of the average monthly costs for utilities can help you better plan your household costs. If a home you are interested in is part of an HOA (Home Owners Association), for example, you will want to know what membership fees are as well.

What are your parking options? If you love to entertain, be sure you know how much parking is available for guests, both on and off your property. If you have a recreational vehicle, in Colorado Springs, these cannot be parked on a street, but must be kept either in a driveway, or garage/storage space, or in a yard area that is at least 10 feet away from the road.

Have there been any pest infestations? This is not a pleasant question to ask, but ask you must. Knowing the history of any issues with pests will help you better prepare for the possibility they may return. Be sure to know what type of pests have been found, how long ago there was an issue, and how the infestation was treated. A good rule of thumb is to have the property inspected and treated for pests before you move in, as treatments are easier with an empty house.

Have there been any pipe or sewer problems? This is another not-so-pleasant question to ask, but one to be aware of. According to a recent article published by Insurance Journal, claims related to broken or damaged pipes are one of the most common type of claim for homeowners. If there have been problems in the past, having repairs inspected is worth the effort.

What are the current property taxes? While property taxes are based on current home value assessments, knowing the history of property taxes on a home will give you some insight into how the property has held up as an investment. It is also good to know if property taxes are due near the time of purchase. You may be able to split the taxes with the seller if they are. You also don’t want to end up with an extra debt you were not anticipating so soon after moving in.

Check back next week for more Smart Questions for homebuyers to ask. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Experience Colorado Springs Historic Architecture

Colorado Springs is a place deeply connected with its past. In particular, we keep connected through the architecture of Old Colorado City and Colorado Springs throughout the earlier part of the 20^th Century, and earlier. With many historical buildings constructed 100 years ago or more, the determination and craftsmanship of the early residents in Colorado Springs have survived the test of time. Today, we can still enjoy the architectural beauty and inspired designs of historical buildings throughout the region. Listed below are some of the historical buildings you can visit yourself.

Brianhurst Manor Located in Manitou Springs and built in 1876, this Victorian-style manor was built by Dr. William Bell, the founder of the Manitou Springs. Today Brianhurst Manor is a favored restaurant in the region, highlighting the beauty of Victorian style and gardens, while giving visitors a spectacular view of Pike’s Peak.

Broadmoor Hotel Built in 1918, the Broadmoor Hotel has was built in the style of European resorts which were popular meccas during the Victorian era. Harkening back to days gone by, visiting the Broadmoor is like taking a step back through time.

Carnegie Library Named a contributing building to the Old Colorado City Historic District, this library was built in 1904 through a grant and agreement with Philanthropist, Andrew Carnegie. Today you can visit this piece of our history and check out a book or two.

Cliff House This hotel/resort is older than the state of Colorado, having been built originally as a stage coach stop in 1873. After the days of the gold rush subsided, the health benefits of Manitou Springs were discovered, and this Victorian era hotel has been a fixture in the area ever since. Today Cliff House is not just a hotel, but a popular venue for outdoor concerts as well.

Glen Eyrie Castle There is no need to go to Europe to tour a castle; you can do so at the Glen Eyrie Castle. Built in 1903 by the founder of Colorado Springs, General William Jackson Palmer, this Tudor-style estate is surrounded by the natural beauty of our region. Today the Castle is a hotel, event and conference center, or you can simply visit for tea or a tour.

Miramont Castle You can’t say we don’t like our big, historic estates around Colorado Springs. Another castle in the area that is worth a visit is the Miramont Castle. Construction of this sprawling early estate began in 1895, bringing to the region with it many modern amenities such as electricity and indoor plumbing. Today you can visit the garden or museum, which is dedicated to preserving the past of the natural and human history of Manitou Springs.

McAlister House Another museum worth checking out is the McAlister House, a grand, if not smaller, Victorian cottage listed on the National Register for Historic Places. Built in 1873, this museum is perfect for history buffs, antique lovers and field trips.

Rockledge Ranch Connect with the wild west at this living-history ranch. This property was one of the first homesteads in the region, in the mid-1800s, but also rich in Native American history. At Rockledge Ranch you can experience a taste of what life was like for not only the first settlers but also the native tribes who were here before. A true step back in time and quality fun for the whole family.

While their purposes may not have remained the same, that these buildings are still here and are an integral part of the our region’s “skyline”, says a lot toward the character of Colorado Springs as a community. We care about our past and we care about our present. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Can Pokemon Go Help Sell Your Home?

If you are planning to sell your home, there are a lot of details to consider, especially when it comes to your listing, and any open house viewings. There are common catchphrases used across the real estate industry to help draw in potential buyers. Describing a property as a cottage or bungalow, or highlighting popular features such as smart products and eco-friendly upgrades, will catch the attention of buyers looking for these features in a home. There are also trends and ideas that come and go, but can make a big impact in buyer interest for a time. There is one new trend just getting started which has already been put to use by home sellers. Recently highlighted by CNBC, the popular AR (Alternative Reality) game, Pokemon Go, is now showing up in MLS properties.

You may wonder why a mobile app with imaginary creatures that “pop-up” at various locations around town would be of interest to a seller; but there is a strategy behind the inclusion of Poke Stops or Pokemon Gyms in a listing. The Pokemon Go mobile app game draws players to locations around the globe, and right in your own neighborhood, too. While you may not have your own Poke Stop, with the game app, you can see if there are wild Pokemon near your property (they like recreational areas a lot), or there may be a Poke Gym nearby. This game is gaining in popularity across all age groups; the potential to have buyers who play the game is growing, quickly spreading across cities and towns everywhere. So why not give your listing an extra kick which may catch the eye of a buyer who happens to enjoy Pokemon Go?

Your listing is your first impression for potential buyers. We live in such a mobile, fast paced world

now, that the quicker you can capture someone’s attention, the more likely you are to keep their interest. With resource and tool apps, and social media being part of the average daily routine for the majority of people now, businesses and industries have realized the benefit of “playing the game” in the playing field of our digital world. As a home seller, you can take advantage of this, too. If you have a Pokemon Go feature near your home, by including it on your listing, you may just attract that one buyer with Pokemon Go, who turns out to be the buyer for your home.

While the popularity of Pokemon Go may lessen over time, keeping up on current social trends and popular features is a wise thing to do when it comes to selling your home. Including sought after features and neighborhood amenities in your listing is part of what draws potential buyers’ attention. The broader the pool of potential buyers you can reach, the better your chances are for selling your home quickly. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Pikes Peak Real Estate Continues as a Seller’s Market

Residential sales data for June 2016 has been released by The Colorado Association of Realtors® (CAR). According to the report, across the state and the southeastern region, of which Pikes Peak is a part, we are continuing to see a strong seller’s market. Prices of single-family homes, townhomes and condominiums are still on the rise. Listed inventory also saw an increase, reflecting seller’s response to an in-demand market. The overall inventory, however, is still below average, and with more buyers still seeking property here, this is an ideal time to put your home on the market.

According to the CAR report for June, there was a rise in the number of newly listed properties across the state. With 12,526 single-family homes newly listed for the month, this was a 5.5% increase compared to a year ago, but still down year-to-date by 0.3%. Active inventory supply is down by 18.9% compared to June 2015, representing a supply of 2.9 months. For condos and townhomes, the supply was down by 0.4% with 3,331 units listed for sale, providing 2.1 months’ supply of inventory. This current inventory is down 30% less than the same time a year ago. Statewide prices continued to rise as well. Median sale prices were at $325,00 for the month, up by 10.2%. Single-family homes reported a median price of $345,00, up 8.8% with townhomes and condos showing a median of $246,000, up by 11.8%.

The Southeast region saw an increase in new listings of 3.4%, 2,653 properties put on the market in June. Single-Family home listings went up by 1.3% while townhomes and condos saw a significant rise in listings, up by 26.5%. Active inventory for the month in the region was down by 33.9%, providing 2.8 months' supply. Median sale prices were up for the region as a whole as well, reporting $237,500 as the median, an increase of 7.4%. Single-family home median prices went up by 7%, to $246,000 while townhomes and condos rose by 12.4% with a median price of $170,000.

Buyers are continuing to find homes in the Pikes Peak area, with another rise in the number of closings being reported for June. The Pikes Peak Association of Realtors® has reported 1,651 single-family homes were sold for the month, compared to 1,401 sold in June 2015, an increase of 17.8%. Townhomes and condos saw a slight decrease 3.8% in sales, with 201 units sold last month compared to 212 the year prior. Median sale prices continue to rise for these types of properties as well, with single-family homes increasing by 5% compared to a year ago, at $262,500. Townhomes and condos around Pikes Peak saw a 12.4% increase in median sale prices going up to $170,000.

We will continue to watch this ongoing trend to see just where it goes in the coming months. If you are thinking of selling your property in the Pikes Peak region, this is an ideal time to list your property. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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 Roadway Improvement Projects Underway

Summer time brings more road construction projects. While we may not enjoy the delays, the improvements that get completed on our roads help everyone in the long run. Living in our recreational paradise is made easier with better roads. This summer promises to be no exception with several large roadway improvement projects getting underway across El Paso County. Continuing the 2013-2017 initiative known as Responsible Acceleration of Maintenance & Partnerships, Colorado Depart of Transportation (CDOT) has the funding to get many large-scale projects underway. Listed below are the current and upcoming El Paso County projects. Be in the know before you go for a better drive to work or fun.

Project: Cimarron Expressway; Cost: $113 million; Details: The interchange along I-25 at US 24/ Cimarron St. will get new lighting and signals alongside new bridges.

Project: Mesa Ridge Parkway/Powers Blvd; Cost: $8.7 million; Details: new shoulders will be added to these state highways between Syracuse St. to Bradley Rd with new pavement surfacing, line painting, and landscaping.

Project: I-25 overlay; Cost $6.4 million; Details: the road from Circle Dr. to the Nevada Ave. exit will be resurfaced.

Project: Powers Blvd. Widening; Cost: $6.3 million; Details: Powers Blvd. will be made wider between Fountain Blvd. and Platte Ave. Airport Rd. will also be widened where it and Powers Blvd. intersect, creating a 4-lane roadway.

Project: U.S. 24 East/Rainbow Falls Bridge: Cost: $2.4 million; Details: This preservation project will improve the safety and extend the life of the Rainbow Falls Bridge. Improvements include new railing and bridge deck surfacing.

Project: Region 2 (Southeast Colorado) Guardrail upgrades; Cost: $1.6 million; Details: Part of a multi-county project cable rail will be added to the 1-25 median and upgrades will be completed to the guardrail along State highway 115.

Project: U.S. 24 East Manitou Springs Overlay; Cost: $1.6 million; Details: Overlay work will be done alongside ADA access improvements, and better drainage at the intersection of Garden of the Gods Pl. along the highway.

Project: I-25 at S. Academy Blvd; Cost: $1.1 million; Details: The northbound on-ramp of I-25 at Academy Blvd will get an extended acceleration lane.

Project: Powers Blvd Signalization at Bradley Rd; Cost: $500,000; Details: a new median, lighting, and traffic signal will be installed where Powers Blvd. and Bradley Rd. intersect.

Keeping up with ongoing roadway improvements will help your commute time and travel to area recreational fun go smoother. You can find out all the details at the CDOT website, including when work is scheduled to be done for each project. Keeping in the know when you are ready to sell or buy your home, can make the process run smoothly as well. We at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer’s agent, we will strive to give you the best support we can. 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.

New listing in the Ridge at Fox Run

15972 Woodmeadow Ct

Colorado Spring, CO  80921

Premium lot on .45 acres located in a cul-de-sac.  A 5 minute walk to Fox Run Park.  Check it out.

Solar Power Options in Colorado

A home is one’s castle. Having an eco-friendly castle not only helps the environment, but can also add value to your home, great news if you are planning to sell your property. Using solar power is a great way to add a unique amenity to your home and conserve energy. Colorado as a state is a great supporter of solar power. This support is spread down to the local level through regional utility services as well. With programs from utility rebates to statewide incentives there are a variety of options and plans to choose from when you are ready to go solar. With residential solar panel systems there is on average more power generated than used, this can result in a great return on the investment for many home owners.

Before you make the step into solar power you will want to do some in-depth research to find the best program and products for your home. Listed below are some great resources when it comes to solar power in Colorado.

·      If you are a customer of Colorado Springs Utilities there are incentives for installing a solar power system which is tied to the regional electricity grid. This provides additional renewable power for everyone to use, and home owners benefit in the form of a credit toward their energy bill.

·      Clean Energy Authority Colorado is a valuable resource to learn about solar power and the programs run by the state. In addition to any utility incentives, Colorado offers property tax exemptions for solar equipment such as solar panels and solar water heaters.

·      With all the different rebates and incentives available it is helpful to have a resource with links and information on different Colorado solar programs. Residential Solar 101 is one such resource. Not only can you see which utilities offer solar incentives, but you can learn about financing as well. There is also a variety of educational material and a calculator to estimate your own energy savings. 

·      Another excellent resource is SolarPowerRocks.com. This site provides a snapshot picture of solar power in Colorado. Here you will find the 2016 Colorado Solar Power Information page with up to date information on costs, incentives, returns on investment and savings. There is also a guide to help you determine the best solar approach for you and your home.

If you are ready to make the switch to solar power, you have a lot of options to consider. The savings in energy and money are just the beginning when it comes to using renewable energy. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Buyer Contingencies to Know About

If you are in the market to buy a new home, there are a variety of aspects to plan for before you have the keys and can move in. When it comes to making an offer to a seller, there are standard contingencies, which you can include as the buyer. In essence, a contingency covers the possibilities of big “What Ifs.” What if there is a big change in the value of the home I want to buy? What if there is serious damage to the property? What if my financing doesn’t come through as expected? These “What Ifs” can be cushioned by the right contingencies, and keep your earnest money in your pocket if an offer goes awry.

An Appraisal Contingency ensures a buyer doesn’t over pay for a property. With this stipulation, an appraiser is brought in to review and report on the fair market value of a home. Should the value come back significantly lower than the listed price, the buyer can walk away from the offer. Having an appraisal will also come in handy when it comes to your financing, as lenders often use these reports to establish loan amounts.

Home Inspection Contingencies provide buyers with the ability to back away from an offer if there are serious structural or integral issues with a property. If a home inspection reveals problems, a contingency keeps the negotiation table open. Sellers can agree to fix a problem, but may raise the asking price to recoup some of the cost. If an agreeable solution is not found, this type of contingency lets you stop the process and keep your money.

If financing is still in progress at the time you make an offer, including a Mortgage Contingency will ensure both parties enter into a sale that can be funded. With this type of stipulation, a buyer is given a specific time frame to procure their mortgage for the home. There are any number of reasons a loan can be delayed. If funding is not available by the end of the time period, you can walk away from the offer and keep your earnest money.

Before you make an offer, review these common contingencies in detail with your Realtor®. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Pikes Peak Real Estate Reflects Seller’s Market

The Colorado Association of Realtors® (CAR) recently released the latest sales data for May 2016. In the report, there are some key factors which point to the Pikes Peak region being in a strong seller’s market. Our population is continuing to grow with more people seeking homes in and around Colorado Springs. This is great news in itself, but homebuyers are seeing a bit of a tougher time in finding a home, mainly due to lower inventory on the market. With fewer homes to choose from, buyers are also paying more. These two factors put sellers in an ideal position to list their property and come out ahead in the market.

According to the CAR report for May, there are fewer properties on the market across the state. With 17,724 single-family homes listed for the month, inventory supply is down by 24%, representing a supply of 2.5 months. For condos and townhomes, the supply was down by 30% with 4,237 units listed for sale, providing less than a two-month supply of inventory. This current inventory is almost 50% less than the same time a year ago.

Despite a lower inventory, buyers are finding homes in the Pikes Peak region, with a record number of closings being reported for May. The Pikes Peak Association of Realtors® has indicated 1,495 residential-property sales closed in May, almost 300 more listings than the average of 1,200 per month.

Across the state and within the Pikes Peak region, home prices are on the rise. CAR data released for May shows that the Southeast region of Colorado, which Pikes Peak is a part of, had a 6% increase in median-sales prices for single-family homes, compared to the prior year. The median price for May 2016 was $242,810 compared to $229,000 in May 2015. Condos and townhomes also saw an increase in median prices, up 5.8%, moving from $156,000 in May 2015 up to $165,000 this year. The median sale price for single-family homes across the state also went up to $335,000, or 8%, while condos and townhomes increased by 12% in median sale prices, to $245,500.

This trend is expected to continue in the coming months. If you are thinking of selling your property in the Pikes Peak region, this is an ideal time to list your property. When you are ready to sell or buy your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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.

Kids' Pool Coming to Manitou Springs

Living around the Colorado Springs region offers a lot of family friendly places and things to do. This summer there will be a new attraction in Manitou Springs, just for the little ones. In a recent announcement from Great Outdoors Colorado , (GOCO) a grant for $80,500 has been awarded to supplement $34,500 from the Manitou Springs City Council, to make a new pool for young kids a reality. The grant from GOCO will replace the existing pool which is more than 40-years-old.

The new Manitou Springs Baby Splash Pool will be large enough for up to 40 kids and include a new kid-friendly entrance into the pool. The splash pad area of the pool will feature water sprayers. Not only will kids 10 and younger be able to enjoy the fun of a splash pad and kid-oriented pool, but there will also be swimming classes available too. The pool itself will be no deeper than 3 feet, 6 inches, perfect for young children just learning to swim and ready to enjoy some summertime water fun. The date of the new pool opening is not yet set but expected to be ready sometime this summer. The pool will be located at the Shryver Park recreation center, which has seen some other updates completed, including renovations done to the indoor pool and a new weight room and general-purpose room.

The GOCO grant for the new pool is one of 39 projects awarded funds across 25 counties. Almost $7 million in lottery funds were gifted to improve our community park and trails and provide more outdoor classes and activities, such as the Manitou Springs pool. GOCO is an independent board in place to award grants from lottery funds in order to preserve and enhance Colorado’s green and open spaces. The GOCO was formed in 1992, and since then has helped fund more than 4,500 projects across all 64 counties in the state without tax dollars, putting our lottery to work.

The new Manitou Springs Pool will be just one more wonderful attraction for families in our area. When you are ready to buy or sell your home, we at Springs LifeStyles Real Estate are here to help you with all of your real estate needs! As your buyer agent, we will strive to give you the best support we can. 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