The grass is starting to turn green and the buds have popped on the trees. It was a great day to be touring homes. Today we saw a terrific home at 1333 Prairie Road. It's in immaculate condition and all the updates have already been done. It's got beautiful hardwood floors throughout the main level. Large picture windows let in tons of natural light. The kitchen and bathrooms have been tastefully updated. But, my two favorite things about this house (aside from it's proximity to downtown and the Patty Jewett Golf Course) are the family room with a wonderful wood burning fireplace and the two private decks. Watch the video and see what I mean.
Tuesday, April 5, 2011
Monday, April 4, 2011
Garden Tips for Newcomers to Colorado
Image via WikipediaSubmitted by Colorado Springs Realtor, Leslie MasseyMany people who are new to Colorado have come from areas that can grow plants by just sticking them in the ground. Getting your plants to survive here in Colorado is more of a common goal than actually having thriving plants. The average elevation here is 6,800 feet, which makes growing healthy outdoor plants problematic. The high elevation creates high intensity sunlight and low humidity. Those facts, along with swift and severe weather changes and commonly poor soil conditions, make for noteworthy conditions.
Many of the regions in Colorado have heavy clay soil which diminishes aeration making root growth difficult. Another obstacle for Colorado gardening comes in the form of untimely snows. Late spring snows can come quickly, be very deep and very wet. Every now and then, we get an early frost before our plants are ready to manage it. The occasional but hasty weather changes (from warm weather to very cold weather like this past weekend - 80 on Saturday, 26 on Sunday), present the biggest gardening challenges. This type of freeze will injure plants and leave defects for years and can also eliminate many plants.
Plants that can tolerate cool temperatures can grow well in April, but most prefer warmer temperatures and shouldn’t be planted until later. Many Colorado natives go by a rule-of-thumb in which they will not plant flowers until Mother’s Day weekend. By that time the chance of a killing freeze is significantly reduced and gardeners will be able to enjoy fresh blooming flowers for the rest of the summer.
Thursday, March 31, 2011
Colorado Springs Ranked 4th in Best Places for Retirement
Submitted by Colorado Springs Realtor, Leslie Massey
The initial research starts with cities whose populations start at around 100,000 and also takes into consideration weather, availability of doctors, driving environment, crime rates, and opportunities for an active retirement (which they define as volunteering prospects and outdoor paths for walking and bicycling).
In reviewing tax burdens, Forbes found that this can be a somewhat deceiving assessment. For instance Texas has long flaunted its lack of a state income tax. However they also require a substantial high sales tax and the third-highest property tax in the nation.
A couple of highlights for Colorado Springs retirement lifestyle are:
a) Unofficial non-profit capital of America
b) Affordable housing, low cost of living, safe streets and lots of volunteer opportunities
On a side note, Colorado Springs also makes Forbes recent Best Places for Bargain Retirement Homes list.
Image via Wikipedia
Colorado Springs is currently ranked number four in best places for retirement. Forbes 2011 Retirement Guide–The Best Retirement Places–takes a number of factors into consideration but the two principal influences are tax burden and cost of living.
The initial research starts with cities whose populations start at around 100,000 and also takes into consideration weather, availability of doctors, driving environment, crime rates, and opportunities for an active retirement (which they define as volunteering prospects and outdoor paths for walking and bicycling).
In reviewing tax burdens, Forbes found that this can be a somewhat deceiving assessment. For instance Texas has long flaunted its lack of a state income tax. However they also require a substantial high sales tax and the third-highest property tax in the nation.
A couple of highlights for Colorado Springs retirement lifestyle are:
a) Unofficial non-profit capital of America
b) Affordable housing, low cost of living, safe streets and lots of volunteer opportunities
On a side note, Colorado Springs also makes Forbes recent Best Places for Bargain Retirement Homes list.
Friday, March 25, 2011
Living in Colorado Springs Costs Less
Image via WikipediaAccording to a Cost of Living Index by ACCRA it costs 7.2 percent less then the national average to live in Colorado Springs. Our utility bills are 13 percent below the national average. Housing costs are 8.2 percent below the national average and grocery items are 4.6 below the national average. The ACCRA Cost of Living Index is produced by the Council for Community and Economic Research, a nonprofit research group in Arlington, VA. Learn more at http://www.coli.org/
Thursday, March 24, 2011
New Laws Benefit Buyers When Getting a Mortgage
Submitted by Colorado Springs Realtor, Donna Campanelli
New laws have gone into effect this year that change the way mortgage lenders can get paid. In the past the loan originator would charge a loan origination fee (usually 1% of the purchase price) that would be paid by the buyer and they would get paid by the lender based on the loan interest rate, the buyers qualifications and the term of the loan.
The new laws now prevent the lender from being paid based on the terms and conditions of the loan. This prevents the lender from being paid more when they place a client in a higher interest rate loan. This is excellent news for home buyers because since compensation will not be based in any way on the interest rate quoted, the buyer will now get the best rate based on their qualifications.
Another change in the laws now prevents the lender from getting paid from both the lender and the buyer. And prevents the lender from "steering" a borrower to a loan that pays the lender more compared to a product that the lender could have offered that would have paid them less, unless the product is in the borrower's best interest.
The new laws now prevent the lender from being paid based on the terms and conditions of the loan. This prevents the lender from being paid more when they place a client in a higher interest rate loan. This is excellent news for home buyers because since compensation will not be based in any way on the interest rate quoted, the buyer will now get the best rate based on their qualifications.
Another change in the laws now prevents the lender from getting paid from both the lender and the buyer. And prevents the lender from "steering" a borrower to a loan that pays the lender more compared to a product that the lender could have offered that would have paid them less, unless the product is in the borrower's best interest.
Wednesday, March 23, 2011
I Want to Buy a New Home and Rent Mine Out - Is It Possible?
Submitted by Colorado Springs Realtor, Kathy Tutko
I am working with a client that will be relocating to Colorado Springs. They have a home out of state that they are planning to rent out. My clients would like to purchase a new home in Colorado Springs while the interest rates are still low and while we have a buyer's market. Is it possible? Well the answer is that never fail quote " it depends."
The easy answer would be yes, if you have enough income to qualify for the mortgage payments on both properties and have funds available for a down payment. You could definitely purchase a second home here as a primary residence. I know people who do this as an investment strategy. Everytime they move, they rent out their exisiting home and buy a new one where they are moving to.
However, we all know that in many cases, a buyer will not have enough income to qualify for both mortgage payments. One's income would have to be fairly significant or the loan amounts low enough to qualify for both loans. One way to help qualify for both loans, would be to count the rent from the property out of state as income. You could do this after a 2 year rental history. If you you have rental income with less than 2 years rental history, it is still possible to count that rent as incomme if you have at least 25% equity in the rental property. Depending on the type of financing on the rental property, you could even still qualify for a low down payment program such as is available with VA or FHA. Of course you will need to qualify financially but having the rent count as income makes that more of a possibility.
As you can see, it is a complicated situation. It will require an experienced lender and a knowledgeable agent to accomplish this complex task but it is possible. Have questions? Email Kathy Tutko.
I am working with a client that will be relocating to Colorado Springs. They have a home out of state that they are planning to rent out. My clients would like to purchase a new home in Colorado Springs while the interest rates are still low and while we have a buyer's market. Is it possible? Well the answer is that never fail quote " it depends."
The easy answer would be yes, if you have enough income to qualify for the mortgage payments on both properties and have funds available for a down payment. You could definitely purchase a second home here as a primary residence. I know people who do this as an investment strategy. Everytime they move, they rent out their exisiting home and buy a new one where they are moving to.
However, we all know that in many cases, a buyer will not have enough income to qualify for both mortgage payments. One's income would have to be fairly significant or the loan amounts low enough to qualify for both loans. One way to help qualify for both loans, would be to count the rent from the property out of state as income. You could do this after a 2 year rental history. If you you have rental income with less than 2 years rental history, it is still possible to count that rent as incomme if you have at least 25% equity in the rental property. Depending on the type of financing on the rental property, you could even still qualify for a low down payment program such as is available with VA or FHA. Of course you will need to qualify financially but having the rent count as income makes that more of a possibility.
As you can see, it is a complicated situation. It will require an experienced lender and a knowledgeable agent to accomplish this complex task but it is possible. Have questions? Email Kathy Tutko.
Monday, March 21, 2011
Great Hikes: Hiking Fountain Creek Regional Park
Image via Wikipedia - Photo by Cassandra Cox Submitted by Colorado Springs Realtor, Erin Chambers
The weather was great this weekend and the great outdoors was calling me. So, I decided to go for a hike. Fountain Creek Regional Park is a hidden asset that is almost undiscovered by the people of Colorado Springs. It is close to town, just south on I25 to exit 132 then south on 85/87. Turn west on Cattail Marsh Road and follow to Nature Center.
You can bring your kids, dogs, fishing poles, binoculars and a picnic. The kids can enjoy a trip to the Nature Center which features telescopes and helpful volunteers to answer your every question. The huge windows are facing a large pond where you will find Painted Turtles out sunning themselves on logs. There are plenty of inter-active displays to acquaint you with the wild life in the area.
Walking the trails is easy, wide, flat, and well marked paths with signs to identify birds, plants, bugs and animals along the way. Once you reach the cattail marshes the sounds of the park change to red winged black birds singing and frogs croaking. There’s an amazing variety of waterfowl that gather to these wetlands.
As many as 250 species of birds have been sited here. The most memorable would be the Great Horned Owl and the Great Blue Heron. They don’t hide either. I have personally spotted both along with Sand Hill Cranes who make a stop here in the springtime.
Don’t like to hike? Grab a fishing pole and settle in at one of the Willow Springs Ponds. It is stocked twice a year with Trout.
The Nature Center is open Wednesday through Friday 9:00 a.m to 2:00 pm. and Saturday 9:00 a.m. to 4:00 p.m. The exact address is 320 Pepper Grass Lane, Fountain, CO 80817 and their phone number is: 719-520-6745. You can also click here to learn more about Fountain Creek Trail.
Subscribe to:
Posts (Atom)
Posts
