3 ways to lower your property taxes in Colorado Springs January 31st, 2012

Patricia

Property taxes are paid twice a year and included in the mortgage payment for most homeowners in Colorado Springs.  The amount of a homeowner’s property taxes varies depending on the location and market value of the property in Colorado Springs.  In case you don’t already know, there are a few ways to save on your property taxes if you qualify:

1.  Appealing your property taxes – If you feel the assessed value of your home is incorrect, you may elect to file an appeal.  The typical time to appeal on your property taxes is from May 1st to May 31st of each year.  The El Paso County Assessor does require that the sold comparables used in the appeal process are within a specific time frame.  If the Assessor’s office honors your appeal, your property taxes will be adjusted for the following year.  The next assessment will occur in May 2013 since the El Paso County Assessor re-evaluates the value of homes in Colorado Springs every two years (on the odd year).

2. Senior Property Tax Exemption Program – Homeowners that are 65 years or older and have lived in the property as their primary residence for at least 10 years may qualify for the tax exemption program offered by the El Paso County Assessor.  Those who qualify can have their property taxes lowered up to 50% (of the first $200,00 in property value).  Contact the El Paso County Assessor’s office for more information about this program at 719-520-6600.

3. Disabled Veteran Exemption Program – Homeowners who are honorably discharged veterans and occupy the property as their primary residence may qualify to have their property taxes lowered by 50% (of the first $200,000 in property value).  To find out if you qualify, please contact the El Paso County Assessor’s office for more information at 719-520-6600.

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Continue reading...


 

2011 Real Estate Stats for Colorado Springs and El Paso County January 30th, 2012

Patricia

There were a total of 8,459 single family home sales in El Paso County in 2011 compared to 8,185 in 2010. Take a look below to view the total sales for major areas in Colorado Springs and surrounding areas.

The Powers area of Colorado Springs had more home sales than any other area in Colorado Springs for the seventh year in a row. The Northeast area came in second with the Southeast and East areas following not too far behind.

Looking at all of El Paso County, Fountain Valley had the highest number of single family home sales (1,100) and surpassed the Powers area by 278 home sales.

2011 Yearly Home Sales - Colorado Springs

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed


 

Yearly Home Sales in Colorado Springs

As you can see in the graph below, there was a 3.3% increase (274 additional sales) in Single Family Home Sales in 2011 when compared to 2010. Compared to five years ago, sales were 15.4% lower in 2011. Although there were more single family home sales in 2011 when compared to 2010, both the average and median sales price are lower than the previous year.

Yearly Single Family Home Sales in Colorado Springs

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed


2011 Yearly Home Sales by Property Type in Colorado Springs

Total Single Family/Patio Homes: 8,459

Condos/Townhomes: 1,011

Income Properties: 143

Yearly Real Estate Property Sales in Colorado Springs

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Search for homes in Colorado Springs

For further information on available Homes in Colorado Springs contact your Colorado Springs Real Estate Agent, Patricia Beck.

Continue reading...


 

El Paso County Home Sales for December 2011 January 18th, 2012

Patricia

Home sales increased by .9% in El Paso County for the month of December when compared to November and sales were 19% higher when compared to December 2010.

There were 22 additional single family home sales in December 2011 when compared to December 2010. There were also an additional 1,042 single family homes for sale in December 2010.  Inventory levels continue to remain much lower than they were around this time last year in Colorado Springs.

Compared to the previous month of November, the average sales price ($210,688) decreased and the median sales price ($185,000) remained the same for a third month in a row. Last December, the average sales price was $232,939 and the median sales price was $198,500.

Single Family Home Sales in Colorado Springs

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

 

Also Read: El Paso County Inventory Statistics for December 2011

Search for homes in Colorado Springs

For further information on available Homes in Colorado Springs contact your Colorado Springs Real Estate Agent, Patricia Beck.

Continue reading...


 

El Paso County Inventory Statistics for December 2011 January 18th, 2012

Patricia

Home inventory has decreased by 30% for the month of December when compared to six months ago (July).  Compared to the previous month of November, there was also a decrease in single family homes for sale.

In December 2010, single family Inventory in the Pikes Peak MLS was not only higher but there were fewer single family home sales when compared to sales in December 2011. Compared to this time last year, months of inventory for Colorado Springs is much lower.

For December, Single Family Home Inventory in the Pikes Peak MLS was sitting at 5 months (compared to 5.7 months in November). Looking at statistics over the past six months, we are at 5.6 months inventory.

The months of inventory has improved considerably in Colorado Springs.  As long as the inventory levels remain at these levels and sales increase, the market will continue to improve.  There is a balanced market in Colorado Springs when inventory sits at 6 months.

 

Single Family Home Inventory - Colorado Springs

 

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

 

Also Read: El Paso County Home Sales for December 2011

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Continue reading...


 

Should you sell the house to an investor? January 3rd, 2012

Patricia

People who opt to sell their home to an investor or company may not always be in a situation of financial distress.  Maybe a seller is in a rush to move and prefers to unload their house as quickly as possible. It may occur where a home owner unexpectedly moves into a nursing home and a decision has to be made about the house.  Family members who are located out of state may feel it’s a hassle to list the home, wait for a buyer, and go through the process (inspection, appraisal, etc…).

Carefully weighing out the options before deciding to sell to an investor is wise.  After meeting with a real estate agent you should have information about the home’s market value in addition to an estimate of net proceeds.  Investors should give you a price of what they are willing to pay for the home as well.  Take some time to crunch numbers and find out which option will work out best for you.  Although, you do not have to pay commissions to any real estate agents when selling to an investor, the sales price of the property will likely be lower than its market value.

Ultimately, your decision will be impacted by the goals you have in mind.  For those that just want to sell the house and do not want to deal with the home selling process, selling to an investor may be the option they choose.  Others who prefer to net more (unless is’s a short sale situation), may decide to hire a Colorado Springs Real Estate Agent to assist them.

Keep in mind, the seller can price the home competitively in order to sell it quickly and potentially, still make more than selling it to an investor.  Sellers who do make the choice to sell to an investor or company, should consult with an attorney to ensure everything in the transaction, including transfer of title, is done properly.

 Contact Patricia Beck at 719-660-9058 if you would like assistance in selling your home in Colorado Springs

Continue reading...


 

Colorado Springs Home Buyers – Research the HOA January 3rd, 2012

Patricia

Home buyers who plan on purchasing a single family home, townhouse, or condominium that is part of a Homeowners Association (HOA) should thoroughly review the HOA documents they acquire prior to closing.  The HOA documents and paperwork relating to the Covenants and Restrictions for a community can be quite lengthy so many home buyers may never read them until after closing if at all.

Many homeowners in Colorado Springs are still facing foreclosure and properties around the city continue to remain vacant.  A homeowner who is delinquent on their mortgage payments is probably not making payments to the HOA either.  Vacant properties may have HOA liens for unpaid dues.  Depending on the number of homes in a neighborhood or units in a complex that are delinquent, the HOA for a particular subdivision may not be financially stable.

Buyers can assess the financial condition of an HOA by reviewing the association’s budget, financials, and meeting minutes.  Buyers can also hire an attorney or a CPA to assist them in reviewing the documents.  Some red flags may include a large number of delinquent accounts, a negative balance on the budget, and little or no cash in the HOA’s reserve account.  Homeowners in the subdivision may be negatively affected by a struggling HOA.  Consequently, common areas may not be maintained or special assessments may be issued to each household.

Home buyers should also review the HOA documents so they clearly understand the rules and regulations of the HOA.  Buyers should not make assumptions when it comes to what the association will or will not allow in the neighborhood.  For example, the association may have restrictions on the number of dogs that can reside at the property or may not allow pets at all.  They may also have restrictions for fencing or storage sheds.

Reviewing the HOA documents, financials, and bylaws for a community may be time consuming for a home buyer in Colorado Springs but it is necessary!

 

Contact me about buying a new home in Colorado Springs at 719-660-9058

Search for homes in Colorado Springs

 

 

Continue reading...


 

Christmas Light Extravaganza 2011 December 6th, 2011

Patricia

Directions for the Christmas Light Extravaganza 2011
Kindly Provided by Autumn Rivera

Here is the 4th Annual Christmas Light drive through Colorado Springs! 

There are some new ones added as well as some great favorites!  The drive should take around 2.5 hours (including watching time and coffee breaks).  Remember that most places shut off their lights by 10 on weekends and 9 on weekdays.  Have fun and please pass this on to anyone who would like them!

Click on the link for directions:  https://sites.google.com/site/csxmaslights/

 

Starting Point: Interstate 25 and Uintah‎

1. Head south on Exit 143 toward W Uintah St        go 0.1 mi
2. Turn left onto W Uintah St                go 0.7 mi
3. Turn left onto I-25 BUS N/N Nevada Ave            go 0.4 mi
4. Take the 3rd right onto E Caramillo St            go 486 ft

Total: 1.3 mi – about 5 mins
Destination #1: N Weber St & E Caramillo St, Colorado Springs, CO 80907‎

5. Head east on E Caramillo St toward N Wahsatch Ave    go 495 ft
6. Take the 1st right onto N Wahsatch Ave            go 0.7 mi
7. Turn left onto E Cache La Poudre St            go 0.6 mi
8. Turn right onto Custer Ave                    go 0.1 mi
9. Take the 1st left onto E Dale St (destination on right)    go 246 ft

Total: 1.5 mi – about 5 mins
Destination #2: 1017 E Dale St, Colorado Springs, CO 80903‎

10. Head west on E Dale St                    go 36 ft
11. Turn left toward E Monument St                go 0.1 mi
12. Take the 1st left onto E Monument St            go 217 ft
13. Take the 1st right onto N Cedar St            go 0.3 mi
14. Turn right onto E Boulder St                go 0.9 mi
15. Turn left onto US-85 S/I-25 BUS S/N Nevada Ave    go 2.7 mi
16. Take the US-85 S exit toward Fountain            go 0.2 mi
17. Keep right at the fork, follow signs for Broadmoor/Cheyenne Mountain Zoo and merge onto Lake Ave
18. At the traffic circle, take the 3rd exit,stay on Lake Ave    go 295 ft
19. Continue onto Old Broadmoor Rd            go 167 ft

Total: 4.9 mi – about 15 mins
Destination #3: Old Broadmoor Rd & Broadmoor Ave, Colorado Springs, CO 80906‎

20. Head north on Old Broadmoor Rd            go 308 ft
21. At the traffic circle, take the 1st exit onto Lake Ave    go 2.0 mi
22. Continue onto Harrison Rd                go 325 ft
23. Continue onto CO-29 N/S Circle Dr            go 0.9 mi
24. Take the exit toward Hancock Expy            go 0.2 mi
25.  Slight right onto Delta Dr                go 0.2 mi
26. Turn left onto Hancock Expy                go 0.9 mi
27. Turn left onto Astrozon Blvd                go 1.2 mi
28. Turn right onto Nadine Dr (Destination on the right)    go 0.1 mi

Total: 6.6 mi – about 18 mins
Destination #4: 2570 Nadine Dr, Colorado Springs, CO 80916‎

30. Head north on Nadine Dr toward Astrozon Blvd        go 0.1 mi
31. Take the 1st right onto Astrozon Blvd            go 0.8 mi
32. Turn left onto S Powers Blvd                go 7.9 mi

**Driving up Powers is a great time for a quick coffee/bathroom/snack break**

33. Turn left onto Stetson Hills Blvd                go 0.8 mi
34. Turn right onto Austin Bluffs Pkwy            go 0.6 mi
35. Turn left onto Rangewood Dr                go 0.2 mi
36. Take the 2nd right onto Saddle Rock Rd            go 0.2 mi
37. Saddle Rock Rd turns left and becomes Medicine Springs Dr
38. Turn right on Barrell Race Dr (Destination on left)    go 0.1 mi

Total: 11.0 mi – about 23 mins
Destination #5: 6690 Barrel Race Dr, Colorado Springs, CO 80923‎

39. Head northwest on Barrell Race Dr toward Bitterroot Dr.go 0.1 mi
40.Turn right onto Bitterroot Dr                go 0.2 mi
41. Turn left onto Dublin Blvd                go 0.1 mi
42. Take the 1st right onto Rangewood Dr            go 0.8 mi
43. Turn left onto E Woodmen Rd                go 0.3 mi
44. Turn right onto Lexington Dr                go 1.4 mi
45. Turn right onto Windjammer Dr                go 177 ft
46.At the traffic circle, take the 3rd exit and stay on Windjammer Dr
Destination will be on the left

Total: 3.1 mi – about 9 mins
Destination #6: 3565 Windjammer Dr, Colorado Springs, CO 80920‎

47. Head south on Windjammer Dr toward Commodore Dr    go 0.1 mi
48. At traffic circle, take 1st exit, stay on Windjammer Dr    go 223 ft
49. Turn right onto Lexington Dr                go 1.1 mi
50. Turn right onto Briargate Pkwy                go 0.5 mi
51. Take the 1st left onto Pine Manor Dr            go 0.1 mi
52. At the traffic circle, take the 1st exit onto Stoneglen Dr    go 262 ft
53. Turn left onto Greenmoor Ct                go 390 ft
54. Slight left to stay on Greenmoor Ct             go 98 ft

Total: 2.0 mi – about 7 mins
Destination #7: 3344 Greenmoor Ct, Colorado Springs, CO 80920‎

55. Head south on Greenmoor Ct toward Stoneglen Dr    go 0.1 mi
56. Turn right onto Stoneglen Dr                go 217 ft
57. At traffic circle, take 3rd exit onto Pine Manor Dr    go 0.1 mi
58. Turn right onto Briargate Pkwy                go 0.9 mi
59. Turn right onto Chapel Hills Dr                go 0.5 mi
60. At traffic circle, stay straight on Chapel Hills Dr     go 0.5 mi
61. At traffic circle, stay straight on Chapel Hills Dr    go 0.3 mi
62. Turn right onto Deergrass Pl                go 0.2 mi
63. Turn right onto Clovercrest Dr                go 121 ft

Total: 2.7 mi – about 8 mins
Destination #8: Clovercrest Dr‎

64. Head northwest on Clovercrest Dr toward Deergrass Pl    go 413 ft
65. Take the 2nd left onto Sage Hill Dr            go 0.1 mi
66. Take the 1st right onto Chapel Hills Dr            go 0.2 mi
67. At traffic circle, stay straigt on Chapel Hills Dr        go 0.1 mi
68. Turn left onto Old Ranch Rd                go 0.9 mi
69. Turn left onto Otero Ave                    go 1.0 mi
70. Take the 3rd left onto Springcrest Rd            go 0.3 mi

Total: 2.7 mi – about 9 mins
Destination #9: Springcrest Rd‎

71. Head south on Springcrest Rd toward Bramblwood Ln    go 0.5 mi
72. Turn left onto CO-83 S/Voyager Pkwy            go 0.2 mi
73. Take the 1st right onto Briargate Pkwy            go 0.2 mi
74. Follow signs for I-25 S/Pueblo                 go 2.9 mi
75. Take exit 149 for Woodmen Rd                go 0.3 mi
76. Turn left onto E Woodmen Rd                go 0.3 mi
77. Turn left onto Campus Dr                go 0.2 mi
78. Slight right onto Vincent Dr                go 0.2 mi
79. Take the 2nd right onto Shrider Rd            go 0.5 mi

Total: 5.2 mi – about 12 mins
Destination #10: 1263 Shrider Rd, Colorado Springs, CO 80920‎

Continue reading...


 

El Paso County Home Sales for November 2011 December 6th, 2011

Patricia

Home sales decreased by 14.9% in El Paso County for the month of November when compared to October and sales were 19% higher when compared to November 2010.

There were 103 additional single family home sales in November 2011 when compared to November 2010.  There were also an additional 1,079 single family homes for sale in November 2010. Inventory levels continue to remain much lower than they were around this time last year in Colorado Springs.

Compared to the previous month of October, the average sales price ($218,230) decreased and the median sales price ($185,000) remained the same. Last November, the average sales price was $233,286 and the median sales price was $198,000.

Single Family Home Sales in Colorado Springs

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

 

Also Read: El Paso County Inventory Statistics for November 2011

Search for homes in Colorado Springs

For further information on available Homes in Colorado Springs contact your Colorado Springs Real Estate Agent, Patricia Beck.

Continue reading...


 

El Paso County Inventory Statistics for November 2011 December 6th, 2011

Patricia

Home inventory decreased by 23% for the month of November when compared to six months ago (June). Compared to the previous month of October, there was also a decrease in single family homes for sale.

In November 2010, single family Inventory in the Pikes Peak MLS was not only higher but there were 542 single family home sales compared to 645 sales in November 2011. Compared to this time last year, months of inventory for Colorado Springs is lower.

For November, Single Family Home Inventory in the Pikes Peak MLS is sitting at 5.7 months (compared to 5.2 months in October). Looking at statistics over the past six months, we are at 5.6 months inventory.

The months of inventory has improved considerably in Colorado Springs. As long as the inventory levels remain at these levels and sales increase, the market will continue to improve. There is a balanced market in Colorado Springs when inventory sits at 6 months.

 

Single Family Home Inventory - Colorado Springs

 

**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

 

Also Read: El Paso County Home Sales for November 2011

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Continue reading...


 

What do the KIDS say about the house? November 9th, 2011

Patricia

Most home buyers who are parents will have their children come along when looking for the right home to purchase.  Some kids are more patient and well behaved than others but they all have one thing in common:  a reaction.

Parents and their Colorado Springs real estate agent should pay attention to the child’s reaction to a home during a showing.

Some children are very vocal with their opinions of the home:

“I love this house!”

“Can this be my room?”

“I want to leave now!!”

“I don’t like this house”

Other children may not say much but their nonverbal actions can reveal how they feel about the house.  Sometimes they do not want to go inside or they look through the home quickly and wait by the door or outside for their parent(s) until finished.   If they like the home, children may play in the backyard or inside the home during the showing.  A child’s nonverbal cues can indicate whether they like or dislike a home.

When I recall instances where buyers with children proceeded to purchase a home, their children often had a reaction to that specific home and their reaction was different from the other properties we looked at during the home search.

I recently worked with a buyer in Colorado Springs and her son quickly became impatient when we would view homes.  The home this single mom ended up buying was an exception and when we walked through it, her son was very quiet the entire time that we were there.  The little boy explored the home and walked around familiarizing himself with each room.  I also noticed him sitting on furniture in various areas of the home, clearly indicating he was very comfortable there.

When viewing homes, don’t ignore the kids; they are an important part of the process and may give you some valuable input when it comes to the final decision.

 Contact me about buying a new home in Colorado Springs at 719-660-9058

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit www.patricia-beck.com.

Continue reading...