Water supply may be overlooked by buyers when purchasing a home in Colorado Springs. With the exception of well water, homes in Colorado Springs are supplied with Municipal or Association/District water. Municipal water is provided by Colorado Springs Utilities while the water for newer areas such as east of Marksheffel Rd, is provided by Districts. […]
The Veterans Administration has automated many of it’s procedures relating to how loans and appraisals are processed making buying a home easier for VA home buyers. The electronic Certificate of Eligibility program now allows lenders working with VA buyers to securely access and print out a veteran’s Certificate of Eligibility without having to wait on the mail. Veteran […]
Many homeowners make the decision to downsize. Often times, a large living area is no longer needed once the children have grown or many are planning for retirement and want to find a home where they can live in comfortably without having to move again. For those who plan on purchasing a home to stay in for the years […]
VA is offering Energy-Efficient Mortgages (EEM) to borrowers who are interested in making energy-efficient improvements to their home. New borrowers or current homeowners interested in re-financing can increase their loan amount to account for the Green improvements that will be made to the home. Depending on how much the borrower’s mortgage payment is increased as […]
One advantage of having a VA mortgage is that it is assumable. If the interest rates skyrocketed and a buyer wanted to assume the seller’s VA loan instead of obtaining a new loan with a high interest rate, it can be done with approval of VA. If the loan was originated before March 1, […]
Many Veterans are not aware of the Specially Adapted Housing (SAH) and Special Housing Adaptation (SHA) grants that are available.The grants provide disabled Veterans with the opportunity to make necessary adaptations to their home in order to meet their needs. Veterans are allowed to use only one of the grants, SAH or SHA. Veterans who […]
Many homes in Colorado Springs built in the mid 70’s through the late 90’s had Polybutylene plumbing installed since it was more economical than copper. It was later discovered the Polybutylene pipes had problems with deterioration in addition to problems with the aluminum fittings. As you can imagine, this would cause flooding and major water problems for homeowners. Homeowners who have Polybutylene plumbing […]
When out looking at homes, buyers can save themselves a lot of wasted time by paying attention to possible problems with the home before submitting an offer. Many first time home buyers in Colorado Springs are seeking bank owned properties but if the buyer is obtaining FHA or VA financing, FHA or VA guidelines may make […]
It can be tricky timing everything correctly when selling one home and buying another at the same time. Closing on two homes in the same day is not uncommon but can pose problems if there are any delays with the transaction being funded on time. Per section 4.3 of the Contract to Buy and Sell […]
Many bank owned properties in Colorado Springs are receiving multiple offers since there are fewer foreclosures available in the Colorado Springs Real Estate Market. The number of foreclosures has not necessarily dwindled, it seems as though banks are choosing to create a demand for these types of properties by releasing a few at a time […]