Archive for September, 2010

How the Lead-Based Paint Law May Affect You September 30th, 2010

Patricia

Since April 22, 2010, licensed contractors are required to be certified renovators in lead-safe work practices if they do any repair or renovation involving lead-based paint. This includes disturbing the paint (sanding, scraping, prepping, etc…) in properties (i.e. homes, child-care facilities) built before 1978. An individual would not be considered to be disturbing the paint (forming dust) if painting over intact paint. The law is required with any renovations that are at least 6 sq ft in a room, 20 sq ft outside, or if windows are changed/replaced.

Someone can have a property built prior to 1978 tested for lead based paint and if the test comes back negative, the law does not apply. Someone may choose to have an inspection performed since lead-based paint was phased out of interiors after 1950 and exteriors after 1960. A lead-based paint inspection can be costly.

If it is reported that a contractor is found in violation, the contractor may be fined $37,500 per violation and/or the contractor can risk his/her certification being suspended or revoked. Citizens can report violations as well.

Although contractors are required to be certified in lead-safe work practices, it is not required for individuals doing work on their own home or do-it-yourselfers as long as compensation is not involved.

People can visit epa.gov/lead in order to find more information regarding lead-based paint and to see a list of approved contractors that are certified.

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Single Family Home Sales for August 2010 – El Paso County September 14th, 2010

Patricia

Homes sales decreased by 3.5% in El Paso County for the month of August when compared to July.

There were 203 fewer single family home sales in August 2010 when compared to August 2009 (22.7% decrease). There were 799 fewer single family homes for sale in August 2009 as well.  Home sales are typically lower in the month of August as we enter the slower season for real estate in Colorado Springs.  We are also still seeing an impact from the expiration of the first time home buyer tax credit. 

Compared to the previous month of July, the average sales price ($246,072) increased and the median sales price ($205,000) slightly decreased.  Last August, the average sales price was $222,531 and the median sales price was $195,550.

Single Family Home Sales for El Paso County - August 2010

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

Patio homes are included in these stats

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

 

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Single Family Home Inventory Stats for El Paso County – August 2010 September 14th, 2010

Patricia

Home inventory increased by 22.3% for the month of August 2010 when compared to six months ago (March 2010).  Compared to the previous month of July, there was a slight decrease of 2% in single family homes for sale. We are now entering the slower season for real estate in Colorado Springs and can expect inventory levels to decrease again next month.

Single Family Home Inventory in the Pikes Peak MLS was 15.8% lower in August 2009 and there were 203 more single family home sales.

Looking at stats for August 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 8.4 months (compared to 8.3 months in July). Last time we saw inventory levels at 8 months or more was at the beginning of the year. There is a balanced market in Colorado Springs when inventory sits at 6 months.


Home Inventory Statistics for El Paso County - August 2010

 

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

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

Patio homes are included in these stats

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