New Blog - LivingColoradoSprings.com

In December we moved this blog over to our new site: http://LivingColoradoSprings.com/blog.
There are quite a few new articles listed there in the last few weeks, including:
Colorado Springs 2009 High School Graduation Rates Available
Grocery Wars in Colorado Springs
Fixer Upper Financing Conundrum
Colorado Springs Schools - You Get What You Pay For
Colorado Springs Grows As A Retirement Destination
Hospital For Sale in Colorado Springs?

Come to http://livingcoloradosprings.com/ for more!

Moving

After a couple of years on Blogger, I made a bold decision to port my blog over to a my own Wordpress site. Please come and see me, I think you'll like the new look! The new address is:

http://LivingColoradoSprings.com/blog

Federal Reserve Stays the Course

While housing is slowly recovering, the Fed recognizes this is a fragile economy, and has wisely chosen not to start jacking interest rates up. These sorts of things can be just symbolic, because the price of bonds is what usually drives mortgage rates, and they will still bounce up and down based on lots of factors. Still, a 'steady as she goes' strategy seems to perfect for these times.
The weather has taken a definite turn to the mild side this week, after subzero temps last week it feels good to be in the 50's again. We'll see how Christmas week goes, but right now it looks like snow will not be in the picture, a welcome event for our driving guests. It has been nice to be able get out and walk again!
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! www.facebook.com/rickvanwieren for more photos, www.twitter.com/rvanwieren for more frequent updates!

Short Sales and Foreclosures, at Christmas?

There is a description by Scrooge in the Muppet Christmas Carol (my favorite Christmas movie :-) that says Christmas is "Harvest time for the money lenders". In truth, most lenders do not want to foreclose in the winter at all, let alone Christmas, and especially not this year (they own enough homes they don't want already!). It's just not good business. Nevertheless, there are those who are hopelessly behind in their payments at this point, and the lenders can't exactly let them live rent free forever either.
This morning we heard a talk by Shawn Morgan, a short sale negotiator with Wells Fargo, who gave us a some interesting tid bits to mull over. First, just as a reminder, a short sale is when the bank agrees to take less than they are owed, usually to avoid having to foreclose on the property. Very often this is without seeking the difference from the borrower, making it an attractive alternative to borrowers who might otherwise let their property be foreclosed upon, and eventually be pursued for a deficiency judgement. Pursuing a short sale is by far the best alternative for many (though not all) homeowners who are underwater and HAVE to move.
Despite their best efforts, the process at Wells Fargo is still pretty much 6-8 weeks (slipping to 10 at times) to get an answer, no matter how good everyone is doing their job. For buyers, this means patience. If you need a house in 30 days, don't even bother. On the other hand, these deals are often going at 85% of the current appraised value, which may very well be off another 20% from the peak of the market here in Colorado Springs.
Other bits and pieces included:
1. Corporations can't do short sales
2. Trusts and LLC's can only do them if the note was originally done in their name (not very often the case), so likely title will have to transfer back to the individual prior to receiving any attention from the short sale negotiator
3. Hounding and threatening that 'the buyer will walk' if they don't answer fast, doesn't get anywhere with these guys, they've got a big enough stack on their desk already to put up with the brain damage.
4. Having realistic expectations for dates and dollars, and a very thorough and complete short sale package usually gets the job done.
The Colorado Springs foreclosure rate is still running at record levels (El Paso County Foreclosure Data), but healthier buyer traffic is holding down the percentage of sales that are distressed (unofficially 22.2% last month), so maybe this problem will be less of an issue over time. We are told that nationally, there is another wave of option ARM loans resetting over the next 18 months. It remains to see how many of those we really have locally, since our market tends to be more heavily influenced by FHA and VA loans that are 30 year fixed rate loans.
It has been a wintry day today, but the sun is back out, and the snow has stopped, even though it is cold and windy. Looking forward to the 40's again by this weekend, enough of this single digit stuff. What global warming?!!!
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! www.facebook.com/rickvanwieren for more photos, www.twitter.com/rvanwieren for more frequent updates!

Colorado Springs Home Sales Jump BIG TIME!

Colorado Springs Home sales in November of 09 jumped 59.1% over last November! This is such good news, and the 4th month in a row of double digit increases. In fairness, last November was dismal, but even prices increased .3%, inventory of unsold homes is down, with the 'months supply' at 5.4, the 6th month in a row below the magic 6 month indicator of a 'normal' market. We in the real estate community are truly thankful for this turnaround. While all is not 100% well (the 90th percentile is still only $339,500), low interest rates and improving employment opportunities indicate a bright future for Colorado Springs. For more details, see the Colorado Springs Homes Sales Trend Data

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! www.facebook.com/rickvanwieren for more photos, www.twitter.com/rvanwieren for more frequent updates!

Christmas in Colorado Springs

The Christmas Season is in full swing in Colorado Springs. To start with, I need to dispel a misconception that Colorado Springs is THE place to come for a white Christmas. Not to be a Grinch, but we seldom have snow on the ground at Christmas in the Springs proper. To be truthful, we save MOST of our snow for the mountains to west of us, and really don't get that much all winter season. Moreover, what we do get melts off pretty fast, so even if we are lucky enough to get some good snow before Christmas, it is likely gone by Christmas Day. It may be cold (or not), but is likely brown, with some blue skies to complement the look.

Like most larger towns, we have our share of public music performances, and at least to our family, we have to attend at least one or it isn't Christmas. In past years we've seen wonderful work done at Woodmen Valley Chapel, we've done the Nutcracker ballet at the Pikes Peak Center. One year our kids chipped in on tickets for the TransSiberian Orchestra at the World Arena. New Life (our own church) has a production they do every other year called Wonderland. We will be going to that this year, although it has been scaled down a bit (one year they did it at the World Arena and it got a little 'over the top') We always love the Christmas Eve service. There are many other performances throughout the city as well, including at the Broadmoor Hotel (photo above), and Glen Eyrie Castle. For a more complete list of what is going on, check out The Gazette Music Section

Ski season 'officially' starts around Halloween most years, but it is Christmas break when most of the slopes tend to be 100% open and really ready for business. Some of the discount season pass programs black out the Christmas holidays for local passholders (it makes more room for those paying full price), but the true unlimited season passes are good over the holidays. It just a little crowded!

Hotels are not as full over the Christmas holidays as they are over Memorial Day (that is another article), so Christmas can be a good time to visit. You just have to be prepared for winter weather on some days. If there is some snow, cross country skiing tends to start up in Teller County. The Florissant Fossil Beds is a popular cross country ski destination.

It was a cold week here, with record lows overnight one night (-2 I think!), but very little snow.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! www.facebook.com/rickvanwieren for more photos, www.twitter.com/rvanwieren for more frequent updates!

Being Thankful - In Colorado Springs or Anywhere Else

My kindergarten aged grandson had a Thanksgiving program yesterday, and one of the songs the kids sang was about having an attitude of gratitude. I for one, am somewhat prone to thinking of being thankful FOR something. Living here in Colorado Springs, working at RE/MAX Properties, the #1 real estate firm in the city, and part of the #1 real estate system in the state, country and the world, that is usually a pretty great list, so it isn't hard to some up with some good ones. Examples are as simple as the great view of Pikes Peak, or mild sunny weather in the middle of winter, or being a reasonable distance to world class skiing, and on and on. Having our extended family here gives us a lot of other things to be thankful for, such as having our grandkids over last night for a sleepover (complete with banana chocolate chip pancakes this morning!), being able to see them in their school programs, etc. But sometimes, I need to step back from all the things I'm thankful for, and remember that if none of them were available, it is still my job to keep an attitude of gratitude. I'm alive, healthy, I have a roof over my head, plenty to eat, and live in the most prosperous age of the most properous country in the history of the world. That should be MORE than enough to be thankful for, no matter what else is going on.

Happy Thanksgiving!

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! www.facebook.com/rickvanwieren for more photos, www.twitter.com/rvanwieren for more frequent updates!

The Sun is Out Again

It was a cold and snowy weekend here in Colorado Springs, after hitting 70 degrees on Thursday. It didn't help that the Broncos also lost their 3rd game in a row and now share the lead in the AFC West, after leading by 3 1/2 games at one point. Thankfully, the sun is back out, the snow is melting off (we only got 3 or 4 inches in the Springs anyway), and hopefully the Broncos will get it back on track next week.
Life has it's ups and downs. One thing I enjoy about living in Colorado Springs, is that the sun always comes back out again after a storm, and some of the most beautiful sights can be right after some of the most ugly. Today is a sparkly winter wonderland, and with highs in the 50's the rest of the week. I know it won't last, so we'll enjoy it while it's here!
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos! Or follow me on Twitter, @rvanwieren.

New House Tax Credit Program Should Be Good for Colorado Springs

We've seen some nice activity in the Colorado Springs real estate market from the current First Time Home Buyer Tax Credit program, but the new tax credit program should be even better. Here is a link to the IRS writeup on the new program.

For starters, it isn't JUST for first timers any more. We've needed a little extra incentives for some existing homeowners, to consider a buying move (as if 5% interest rates weren't enough!). While the incentive is a little less ($6500 vs $8000), it is a good start. It also only will apply to primary residence moves, so this won't be an investor or 2nd home purchase program. And it only applies if the prior home was your primary residence for 5 of the last 8 years, thereby excluding anyone who has bought in the last several years and is ready to move on. It will also likely require many to sell before they rebuy, putting some pressure on short term rentals. But all in all, it should help a little at the higher end, because more buyers in the qualifying categories are likely to buy in the higher price ranges than 1st timers.

Some unintended side effects of the program could be:

1. Downsizing sellers could end up putting more pressure on lower priced homes, as well as adding higher priced homes to an already glutted inventory of more expensive homes. The 90th percentile in our market was only $345,000 last month, indicating some of this was probably already happening.

2. The additional buyers this may generate will have houses to sell, adding to the inventory in all price ranges.

3. Builders will see additional activity from this, however more contingent contracts will likely appear, contributing to some increases in 'spec' homes, when move up buyers are unable to sell at terms they can afford.

It is a little cooler today, only 68 (ok, I'm bragging:), but probably the last day of the year that will be that warm. Pretty nice for November, that is for sure! Today's photo is of Mt Sopris, taken from the hills above Basalt last month. Sopris is part of the Elk Mountains, and while not a 14er, presents a nice dramatic backdrop to the Roaring Fork Valley on the way to Aspen.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Colorado Springs City Election Presents Hard Choices

The results are in, and Colorado Springs voters have taken a hard line against any kind of increase, or even maintenance of city tax revenue. We are a little famous for being very anti-tax here, so in some ways this should be no surprise. However, it does present some 'interesting' decisions for the city council, seeking to balance a budget that has been hit hard by decreasing sales tax revenue. Of course, all the fun stuff gets paraded out to the chopping block first (parks and bus service for instance). Police and fire salaries, whether by headcount, furlough, or layoff tend to be next. Street maintenance is never far behind, although since they are already doing so little in that area it isn't that productive. Usually not mentioned are mayor and city council salaries (or size), wonder why? My personal hope is that the city will figure out some good creative ways to avoid cutting back things like park maintenance, we have some of THE best parks in the country!
I'm kind of glad Congress is getting serious about extending the 1st Time Homebuyer Tax Credit, both in time and scope. There is still some discussion going on, but I'll cover this when the final version passes, maybe by tomorrow? The extension of the program to some existing homeowners is particularly exciting.
We may set warm weather records 3 days this week, with another day in the 70's for today, pretty great for November! I'll take it, we had snow last week to offset it!
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Colorado Springs Home Sales Jump Again!

Preliminary data indicates Colorado Springs home sales jumped 19.1% over 2008 for the month of October. While prices did not keep up (Average was down 7.2%, median down 1.1%), it does reflect the continuing improvement in our market. Factors contributing to the uptick are the continued impact of troops arriving at Ft Carson, the $8,000 First Time Home Buyers Credit (currently scheduled to expire 11/30/09), and terrific interest rates, still in 5% territory.

Today's photo was taken last week from our office, just after one of the snows we had. We've got a warm (60's) and dry forecast for the week, a welcome change from the cool and snowy October we had.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Unemployment Dropping in Colorado Springs

The unemployment rate for the state of Colorado and Colorado Springs is dropping, according the Colorado Department of Labor and Employment. A 7.2% unemployment figure for September is welcome news to the local area, and should help stabilize the housing market, along with everything else that has been hit by this recession. We'd rather be at 4%, but compared to 10%, 7.2% looks good!

The new Costco on North Nevada near I25 (University Village) opens later this month, making the 2nd Costco to open in the area in less than 2 years. I finally bit the bullet and joined yesterday, figuring that while Sam's Club on Woodmen is a more convenient location for me much of the time, with 2 stores that are both in major travel corridors (the other store is at Barnes and Powers), the prices and selection will make it worth it.

The sun is out again after yesterday's minor snow event. This time of year it goes back and forth between summer and winter a lot, and with 80 degrees last Sunday, we knew it was bound to go the other way at some point. Very little snow actually stayed on the ground, and it is melting as fast as the sun can find it.

Today's photo was taken Sunday up in Basalt (near Aspen, about 4 hours away), where there was still some color left on some of the trees. Early season wind storms stripped a lot of the hillsides of their aspen leaves, but the valleys of the Frying Pan and Roaring Fork Rivers were very pretty. Independence Pass was still open, but normally closes later in the month when the snow gets more serious in the high country.
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Woodmoor - Easy Access, Mountain Resort-Like Atmosphere

There are places you can live in the greater Colorado Springs area that do not feel like you are near a town of 600,000, and the Woodmoor area in Monument is one of them. I listed a home this past week that is kind of an anomaly, in that it is an almost brand new home in an area that is pretty much completely built already. Woodmoor started in the 60's, but most of the homes tend to be from 90's, when our big construction boom snatched up the remaining vacant lots. Woodmoor is one of the only single family residential areas to my knowledge that has full time staff for the HOA (the Woodmoor Improvement Association), and offers a security patrol to augment the El Paso County Sheriff's Department. Dues are $209 / year. It is 1/2 to 1 acre density, with lots of trees, greenbelts running through it, and plenty of foxes, deer and squirrels for neighbors. Woodmoor is one of those places that feels like you on vacation when you are home, and yet it is very convenient for freeway and shopping access, making it popular among those who have split commutes (one going to Denver and the other to the Springs). Drive time is almost the same to the south end of Denver (30 minutes) or downtown Colorado Springs. Prices start in the mid 300's for smaller 70's built homes, but can approach a million for newer, larger, well equipped luxury homes. The home pictured was completed in 2007, and with 4200 square feet, almost all finished area, it is listed at an extremely good price for $499,900.

Take a tour of 18360 Sloan Lane.

See more photos and the MLS information for 18360 Sloan Lane.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Big Sports Weekend In the Springs, Despite Dreary Weather

I am flat out glad for the sun today, after a 3 days of not seeing it! This is very rare here, as is freezing drizzle and extremely cold temperatures for this time of year. Thankfully we'll be back in the 60's and sunny this week, more normal for the season.
The Broncos are now 5-0. No one here expected them to win their first 5 games. I guess Josh McDaniels, the new coach who replaced a much beloved Mike Shanahan, and Kyle Orton, who replaced the cry baby quarterback Jay Cutler, can finally smile and relish the moment. What a great game yesterday!
Wish we could say the same for the Rockies. The pitching staff walked 3 of the 6 runners who scored, not exactly a proud moment for the team. They've got to win tonight, or their Cinderella season is over.
The slick roads were full of accidents this weekend, including a minor one when a car slid through a red light and lightly hit my wifes car. Thankfully she was not hurt, and even the car was ok. The first icy roads of the season almost always cause more trouble than the later in the season, when people have had a little practice. Ice is also more dangerous than snow, because often the road can look 'just wet', when in fact black ice is covering it. And in the fall, very few people have snow tires on their cars yet. I personally have not used snow tires for years, but many even use the studded variety for winter, making trips up to the ski areas a bit more secure. Of course sunshine is the best remedy for icy roads, and it was good to finally get some back this morning!
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Winter Weather Makes Another Fall Visit in Colorado

2 days ago my grandson and I were out in the back yard enjoying a 72 degree sunny day while he played on the swing set. This morning, there is snow all over the trees, and although todays highs will allegedly reach the mid 50's, another front is coming tonight that will have us in the 20's tomorrow. We'll still get some nice weather before winter really sets in (the trees haven't even really changed that much in town here!), but it is a reminder that winter is on it's way! Glad I got the sprinklers drained before it gets here.
Speaking of tomorrow, the Rockies and the Phillies at Coors field for game 3 of their playoff series will be a cold one! Hopefully that will translate into additional home field advantage.
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Ski Season Starting Tomorrow???

Hard to believe as it is, the Colorado ski season will actually begin tomorrow, October 7 at Loveland Ski area, and on Friday the 9th at Arapahoe Basin. I always figure on Halloween being the logical start of the season, but with some early season cold snaps, advances in snowmaking equipment, and some early natural cover, it's like Christmas in October for those of us who love to ski.

Speaking of October sports, it is another 'Rocktober' here with the Colorado Rockies in the baseball postseason once again. We'll see how far they go this time, but it is very fun having both the Rockies and Broncos doing so well!

Who would ever have guessed the Broncos would be 4-0 with a new rookie coach, a disgruntled star receiver, and a new quarterback with a mediocre track record at best? There is a lot of football to play, but they are making it a fun season to watch so far!

Today's photo was actually taken last October at Parliament Park in Briargate

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Preliminary September Home Sales Data Look Strong for the Springs

Home sales for Colorado Springs in September were up 12.2% over last year at this time, according to preliminary figures. Prices were off 10.25% on average at $214,848, and median was down 5.0% at $189,900. On average, homes sold at 97.2% of the asking price. See the link on the menu for more details.

Fall weather changed yet again, after a weekend in the low 80's, it might hit 50 today, although the skies are clear blue and sparkly. Freeze warnings out for tonight, got to drain those sprinklers! The trees are getting quite pretty around town, although it seems different on every street. The maples and aspens seem to have got the lead so far. Todays photo was taken last year near Cripple Creek.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Fall Maintenance Schedules Are Slightly Different In Colorado

Most areas of the country have some sort of seasonal fall maintenance, and in some regards In Colorado Springs isn't really THAT different. Generally when the nights are starting to get cold, having the furnace cleaned and serviced is a good idea almost everywhere. But here, that would also include the humidifier (cleaning and starting it back up). Most places, if there is a sprinkler system, you start watching the weather, and you have it shut off and drained or blown out before a hard frost hits, along with disconnecting outside hose bibs so they don't burst the pipes. Here, the same holds true, but we can have some pretty dry warm weather mixed in almost all winter, so many people will start up and shut down their sprinklers several times to account for weather fluctuations. Cleaning gutters is always a good idea after the leaves have made their mess. Our soil conditions fluctuate a lot, and so many people also get their lawns aerated and fertilized in the fall. Thatching is not common here, but aeration in spring and fall are.

Other maintenance items that are helpful, include checking weather stripping, covering the swamp cooler or AC compressor, and most importantly, making sure your ski equipment is handy, tuned and ready for the 1st opening day, often in October!

They say our fall color season is really a short one this year, the most recent storms must have shocked the trees. Last year was the best color season I can remember, wish I had taken more photos like the one shown, taken last year at Parliament Park in Briargate.

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Fall Weather Right on Time

It snowed yesterday here in Colorado Springs. Not just on the top of Pikes Peak, but right here in town. While that sounds pretty silly, given yesterday was the last day of summer, the fact is, it is not that unusual to get our first snow in September. What would be unusual is if stuck to the ground (it didn't), or if there was much of it (there wasn't). Still, it gets some of us excited for the change in seasons. After all, season pass sales for the ski resorts are going on, the leaves are just hinting at changing, and fall in Colorado is a favorite for many of us, myself included. While today was cool and gray, the sun will be back along with pleasant temps by the weekend. No, the photo was not from yesterday, it was our fall blizzard of '06, hit just before Halloween. That is when our first real snow usually hits. Can't wait!

This fall is kind of fun, with the Broncos at 2-0 and the Rockies looking like they will make a serious playoff run as the National League wildcard. We all remember the 'Rocktober' of 2 years ago, with a closing run of 21 out of 22 games to get into the World Series. It could happen!

Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784! Visit me on Facebook to see even more photos!

Peyton Pines - Affordable Treed Acreage

Yesterday I walked some lots out in Peyton Pines, and kicked myself that I don't go out there more often. While it is a 40 minute drive from my office (pretty much due east), it is only about 30 minutes to Peterson AFB, and less to Shriever, making it a fairly doable commute for many Air Force personnel and defense contractors, or others working on the east side of town. The setting is idylic. We kicked up deer on 2 different lots we walked, and the panoramic views were serene. There is a nice mixture of pine trees and meadows, and the prices are really pretty reasonable. The 5 acre lots we saw were both under $125,000, and horses are welcome.
Got questions about living in Colorado Springs? Call me at 719-590-4768 or 888-568-6784!