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Is 2018 The Year To Cash In?

February 14, 2018 by Sylvia Jennings

Is it YOUR year?

If you live here and own a home, you’re $70,000 richer than you were 24 months ago. That’s how much home values have risen since January of 2016. Ka-ching! In statistics just released by the Pikes Peak Association of REALTORS (PPAR), the average single family home is selling for $333,000, compared to $263,000 in January 2016. In 5 years, local home prices have soared by $100,000. Record demand, low supply and a strong economy have pushed local home prices up much faster here than the Denver metro area, making Colorado Springs one of the 10 hottest housing markets in the country: 2018 Top 10 Housing Markets. We’re predicting another record year for home sales with Millennials leading the stampede. Young people are getting better jobs and jumping into the housing market. And the other trend to watch is move-up buyers. We’ll see thousands of local homeowners cash in this year to use their growing equity as a down payment on the next home of their dreams. With some spiffing up, your home could potentially sell for $20,000 or $30,000 more. In many cases, it’s worthwhile to make major improvements in order to get top dollar. If you want to avoid a costly mistake, consult with your real estate agent first. We can tell you how much a project is worth, help you decide what to do, and refer you to a trustworthy pro to do the job if it’s beyond your expertise.

6434 Cavalry Pt Colorado Springs CO 80923 Coming Soon in Dublin Townhomes

February 6, 2018 by Toby Lorenc

6434 Cavalry Pt Colorado Springs CO 80923

6434 Cavalry Pt Colorado Springs CO 80923 coming soon in Dublin Townhomes, listed by real estate agent Toby Lorenc. Toby’s very familiar with the Dublin Townhome HOA community as he is currently working for another seller to close on their home in early March 2018.

The new listing at 6434 Cavalry Point is the largest of the units in the Dublin Townhomes, originally built by Pulte Homes in 2004/2005. This corner unit is a unique floor plan with 1625 square feet of living space, plus a 549 square foot double car attached garage. The large garage area also includes a cubby, perfect for a workshop or built in shelving.

Inside this Colorado Springs townhome, you will find a practical layout with a large front room and dining area on the main floor, which flows nicely into the large kitchen, complete with all appliances. Sometimes in this real estate market, sellers are not including certain appliances, like the refrigerator or washer and dryer. However, in this case, the future buyer will not have to worry about going out and purchasing these items as they are included in the sale of the home. The kitchen area also includes access to the 2-car attached garage, half bathroom, as well as a deep storage and coat closet under the staircase. This closet is the homeowners access to the crawlspace, which is ideal for storage and has access to the forced air furnace.

Head upstairs and you will find an incredible open loft space, ready for a home office, craft room, music area, or anything else the buyer can imagine. Down the road, this space could also be converted to a third bedroom as the needs change for the family or individuals living in the townhouse. The open loft space includes access to both bedrooms and the entire upstairs has brand new carpet. In the master bedroom at one end of the hall, you will find high ceilings with a fan to keep you cool in the summer. The master bedroom also has an attached full bathroom with double vanities and all new carpet in the bedroom, including the large walk-in closet. On the other side of the hallway, the 2nd bedroom has plenty of space and plenty of storage, with a double closet and attached full bathroom, also accessible from the upstairs hallway.

Perhaps the best part is you don’t have to worry about the exterior maintenance of your townhome! The Dublin Townhomes HOA fee covers exterior maintenance, where expenses can add up quickly on big projects like roofs, siding and painting, paving streets and more. In fact, in 2015, there was a major hailstorm which damaged roofing and siding throughout the complex and in many parts of Colorado Springs. These have now been fully replaced and repaired thanks to the coordination of the HOA (homeowners association). The monthly HOA fee of $138 also covers the smaller things that take up time, like mowing the lawn, shoveling the snow off walkways and porches, and basic landscape maintenance to take care of trees, sidewalks, fencing, etc. Along with Dublin Townhomes HOA, there is a secondary HOA for this townhome community. It is part of the Stetson Hills Master HOA, which is currently $39.25 quarterly (or $157 per year). This includes a variety of things, including trash pick up for homeowners including in your HOA fee.

Not only does this pristine townhome have a great location in the complex, it has an extremely convenient location in the city. The townhome sits in the complex as an end unit in the building, and just steps from a large area of open space which is perfect for walking dogs, throwing the Frisbee or a summer picnic. Plus, you are located within walking distance of award winning restaurants, including Over Easy Eatery, Fuzzy’s Taco Shop and Salsa Brava Mexican Grill. The Powers Corridor is just a block from the townhome, which provides easy access to tons of shopping, popular restaurants, entertainment and connection to major transportation hubs.

Contact Toby Lorenc today for more information or search MLS listings.

Other Articles You Will Like:

What to Expect From Your HOA
Over Easy is one of our Top Brunch Spots in Colorado Springs
Dublin Townhomes in Colorado Springs

PikeRide, Legacy Loop, and Bike Lanes Improve Bicycling Downtown COS

January 19, 2018 by Toby Lorenc

Pike Ride Bike Share launches in Colorado Springs June 2018.

Getting around Downtown Colorado Springs is going to be a lot easier this year – specifically for bicyclists. City planners, traffic engineers, tourism and outdoor recreation groups, plus many more have come together to create solutions for an often mentioned challenge of Colorado Springs: Transportation. Public transit took a drastic change for the better back in 2014 when both Lyft and Uber started serving the Colorado Springs region. Suddenly citizens had quick and affordable ways to commute by car. But this didn’t help the walk-ability or short distance trips, not to mention opportunities for recreation. Three major initiatives are going to change the way both tourist and locals get around Downtown Colorado Springs, plus improve safety and convenience for bike riders.

PikeRide Bike Share

Originally planned to be called PikeCycle, PikeRide is a bike share service which will have multiple bike stations around the heart of the city (phase 1 includes a perimeter of Fillmore to Fountain and I-25 to Union). If you’re not familiar with the concept of bikeshare, basically it allows riders to grab any of the available 208 bikes from one of many 26 bike racks (called “hubs”) throughout the greater Legacy Loop area. By simply using a free mobile app, the biker can both unlock and pay for his or her ride and return the bike to any station. You can also purchase extended memberships for the day, month or year which comes with perks like free rides. The program will be managed by Downtown Ventures, which is a non-profit segment of the Downtown Partnership. It may seem like minimal effort and staffing needed, but when you think through distributing bikes equally among the stations, maintenance of bikes, and other customer service issues, it will require a combination of full and part time staff. Although the Downtown Partnership and Kaiser Permanente are heading up the effort, PikeRide is still looking for sponsors and those interested in membership opportunities, and can be contacted at (719) 886-0088. Download the BCycle mobile app so you are ready to ride Colorado Springs in June 2018! Plus, the same app and bike share system work in both Boulder and Denver, so you’ll be able to use your account up and down the front range, plus in nearly 40 other cities across the nation.

Legacy Loop Trail

Legacy Loop is a thoughtful and connected trail system around the greater downtown Colorado Springs area, perfect for bike riding, walking, jogging, and more. It’s 10 miles of trail systems to connect major attractions and parks, including Monument Valley Park and America the Beautiful Park, where events and activities are often scheduled. The Legacy Loop Trail System will help with connectivity and encourage the outdoor spirit of wellness Colorado Springs is known for nationwide. It makes daily transportation easier, plus encourages more participation in events like Bike To Work Day. As we increase our exposure in the bicycling community, we are also more likely to build the tourism excitement for the city by locking in key events like the Colorado Classic Bike Race we hosted in 2017.

Dedicated and Protected Bike Lanes

If you’re not on the Legacy Loop Trail, navigating through traffic downtown can be tricky, especially on busy streets like Tejon Street and Nevada Avenue. With increased bicycle traffic, Downtown Partnership, City Government, and other groups are coming together to provide better bike lanes on streets throughout Colorado Springs, with a focus on downtown. This involves incorporating marked and designated bike lanes onto city streets and even some reconstruction of the streets, parking, and landscaping to protect cyclists. For instance, you will start seeing parking protected bike lanes, where parked cars serve as a barrier between the traffic and bicyclist to help keep moving traffic separated from bicyclists. Other practices will be used to accomplish the same goal, including buffered bikes lane, which are typically street marking that create additional space between the rider and traffic, and additional signage and bike lanes painted bright green as an additional alert to drivers to stay in their lane and watch for bicycle traffic. Although some of these changes will mean additional funds and design, the city is also implementing many of the projects at the same time other work is being done, such as repaving roads, which will help save tax payer dollars.

Overall, these major projects are the work of many hours of planning and input from various community groups. These three key projects will help accomplish 5 key goals as noted on the Springs.gov webiste: Safety, Viability, Integration, Accessibility and Ridership.

The bike master plan can be found on the City of Colorado Springs website (https://coloradosprings.gov/bikeplan), as well as helpful tools like the city bike map, bike safety tips, and further information about various phases and execution of these (and more) bike projects.

Download the Bcycle app for Apple or Android

Other Articles You’ll Like:
Find other interesting Colorado Springs mobile apps
Major Changes in Downtown Colorado Springs
Colorado Classic Bike Races Comes Through Colorado Springs

6446 Cavalry Pt Colorado Springs CO 80923 Just Listed For Sale

January 14, 2018 by Toby Lorenc

Dublin Townhomes 6446 Cavalry Pt

Brand new listing at 6446 Cavalry Pt, Colorado Springs, CO 80923 in the Dublin Townhomes off the Powers Blvd Corridor. Located in Northeast Colorado Springs, this 2005 townhome is like new with brand new carpet, new stainless steel kitchen appliances, and fresh paint inside. Plus, the HOA recently replaced the siding and roof in June 2017.

The floor plan in the Pulte townhome is very practical, with an open main level living area which includes a separate dining area space. Plus, the kitchen is open and bright with a pass-thru opening and breakfast bar. There’s easy access to the 2 car attached garage next to the kitchen, plus a convenient powder room (half bath) on the main level. The rooms flow together easily and seamlessly with beautiful wood laminate flooring on the entire main level.

Upstairs, you’ll find 3 bedrooms and all new carpet with an upgraded pad underneath for extra cushion. Enjoy the high vaulted ceilings in the master bedroom, along with an attached bathroom with double vanities and brand new high-end laminate flooring.

Dublin Townhome Living Room

Each bedroom is comfortable with ceiling fans and air conditioning throughout the home. And laundry day is a breeze with a large laundry room located near all the bedrooms upstairs. Finally, don’t forget about the 3rd bathroom, a full bathroom located off the upper level hallway for comfort of guests in both bedrooms.

But for those times you’re ready to get out of the house, there are plenty of options in the neighborhood. From restaurants like the popular Fuzzy’s Tacos and Salsa Brava Fresh Mexican Grill, to major shopping and entertainment options, you’ll find plenty of services just around the corner from your new home.

Come take a look at this beautiful home in Colorado Springs by contacting the experienced Colorado Springs listing agent. Also, explore our website where you can search other properties of find the value of your own home.

Price Decrease: 9629 Beryl Dr, Peyton, CO 80831

December 12, 2017 by Toby Lorenc

9629 Beryl Dr Peyton CO

‘Tis the season to find the perfect home, and save money with the recent price drop at 9629 Beryl Drive, Peyton, CO 80831 – now only $399,900, a $20,000 decrease!

Take a look at this fantastic house with views of the popular Antler Creek Golf Course and the calming lake just out the back door. Not only does this provide a peaceful setting, it also means you have privacy because there’s no neighbor behind your home!

Inside this home, built by Richmond Homes in 2009, you’ll find plenty of room to spread out and relax with a total square footage of 4,379! This classic two-story provides separation from bedrooms and living areas, with 4 bedrooms upstairs and an additional bedroom in the finished basement for a total of five bedrooms and 4 bathrooms.

Plus, speaking of spreading out, you’ll have room for all the toys with the over-sized 3-car garage. Whether you have multiple cars, need extra space to store household items, or want to set up the perfect shop and tool bench, this garage will easily meet most homeowners needs.

9629 Beryl Living Room

With low monthly HOA dues, which included access to the YMCA and water use (up to 5,000 gallons), the neighborhood location and amenities are the perfect give to anyone.

Additional amenities include central air, large bedrooms, attached master 5-piece bathroom, landscaping, sprinkler and drip systems, and low maintenance stucco exterior.

Come see all the features in this Peyton home during the open house on Sunday, DEC 17 from 1:00pm-3:00pm!

MLS # 8053834
Wayne Jennings, Realtor

From Under Contract to Back on the Market – Is That Bad?

December 7, 2017 by Toby Lorenc

Is back on market a bad thing?

With such a busy, seller’s real estate market right now in Southern Colorado, why would any under contract home “fall out of contract” and go back on the market? You’ve seen real estate agents advertise houses as “Back on the Market” or perhaps you thought you missed out on buying a home, then it’s suddenly active again when you’re searching the MLS. Many buyers ask questions like:

Is this something you should be worried about?

Why didn’t it sell the first time?

Is there something wrong with the house?

Notice to Terminate Reason Table

As you can see from the Notice to Terminate contract, the buyer has lots of reasons why they can terminate a contract. The seller also has flexibility after receiving certain information, but the seller doesn’t have nearly as many chances to “cancel the contract.” So, typically when we see a house go back on the market, it’s generated from the buyer’s side of the transaction, although sometimes not by the buyer’s choice.

There are a lot of reasons why this could happen and they’re hardly ever the same. Although, we tend to see 3 major categories that a canceled contract often falls into, which typically leads to the home going back on the market:

Home Inspection or Appraisal Issues (House problems)

Inspection and appraisal can be stressful events for both buyers and seller. The inspector could find a major problem with the home or even a minor problem which parties can’t agree who will pay to fix. As part of the inspection process, even before the day of inspection, the buyer has the right to investigate and research the home. This could lead to discoveries that may change the buyer’s name including: special taxing districts or fees the buyer wasn’t expecting; inability to get or dissatisfaction with future homeowners insurance; the home is in a flight pattern; the buyer doesn’t like the neighborhood; the history of the home makes the buyer uncomfortable (deaths/suicides, drug problems, rumors from neighbors, etc). Plus, if the home doesn’t appraise for the contracted value and the parties can’t agree on a selling price, the deal may die with the finalized appraisal.
These are just examples, but overall, we typically see a buyer cancel a contract before one of these deadlines. There are also additional deadlines, where the buyers have the chance to look through HOA documents, title paperwork and other information. Although these dates may vary from the inspection deadline, many of them overlap and happen simultaneously. While they can put a home back on the market for various reasons, inspection and appraisal problems are the most common.

Buyer Financing and Loan Approval (Buyer Problems)

Although the buyer may be qualified to purchase the home when they go under contract, things can change. For instance: if they buyer loses a job or another stream of income; if the buyer suddenly makes a large purchase while under contract; if the purchase of the new home was contingent on the buyer selling his current house and the sale falls through or if the buyers suddenly receive or learn of a judgement against them.

Plus, anytime there’s a loan involved, the process can be complicated, especially depending on the type of financing. Even a conventional home loan can get flagged near the last few days in underwriting. That’s why it’s important to do your research on the lender – as a buyer, it will keep you from spending unnecessary money and headaches and as a seller, it will help decrease the likelihood of having to put your house back on the market.

Buyers simply change their minds (Buyer Decisions)

Just when you think you’ve seen everything, another creative reason comes along. From suspicions of a house being haunted, to the overwhelming problem of not being able to match the paint colors (yeah, that’s a real one), there are a million reasons a buyer may back out of a contract.
Other real-life reasons include (these were collected from agents around the country):

Buyer went to jail
God told them to not buy
The house had bad feng shui
Buyer passed away while under contract
Ex-wife lived across the street
Buyer saw a mouse in the house
Strange statues in the neighbors yard
Buyers (a couple) decided to get a divorce
There was a bad omen
Their lifecoach said it wasn’t in sync with their souls

You can always ask for previous inspection reports or reasons, but the main point here is that just because a house goes back on the market doesn’t mean there’s something wrong with the house itself. Sometimes the listing agent will disclose why they’re back to active status in the MLS, and sometimes they won’t get into too much detail. Unless there is a material defect that was uncovered, they are really not required to give you the details and a smart agent will determine what information to release and still best represent their client.

If you’re interested in a home that’s come back on the market, have your favorite real estate agent check-in with the listing agent to gather additional information that could give you the upper-hand when making your offer!

997 County Rd 119 Florence CO 81226 – Riverfront Property For Sale

November 13, 2017 by Toby Lorenc

997 County Rd 119 Florence CO 81226

997 County Rd 119 Florence CO 81226 – Riverfront property for sale close to the historic Florence Colorado downtown shops, restaurants and culture of a small town.

The large property is 3.26 acres and includes a fenced perimeter, existing 42′ x 60′ barn and shop, 240 feet of private riverfront access, and plenty of room to build your dream home. In fact, the land has already been surveyed and there is an approved building permit for a residence. The options are unlimited, from converting the existing barn into a barndominium, parking for an RV or tiny home, or executing plans to build a single family home.

Despite all those factors, there are some very specific things that make this home site even more unique. First of all, there are existing water rights that come with the property, plus additional irrigation ditch rights available. This is nearly unheard of to have water rights deeded with a property and as many experts say, “water is the new GOLD!”

Also, the location of this property couldn’t be better. You have the beauty of the mountains, the recreation of the river, and the privacy of the lot, all in a convenient location. The property is 2 miles from the heart of Florence, where you will find dozens of antique and collectible stores, plus some amazing restaurants including Ito’s Japanese Sushi Steakhouse and Thai, Quincy’s Steakhouse, Papa’s Italian Restaurant, and Steele Smokin’ BBQ. Or keep going another 20 minutes for a wider variety of services and shops in Canon City, Colorado. Plus, you can head the other direction to easily jump on Highway 50 or enjoy the quick 40-minute commute to Colorado Springs. You’re going to love the location, location, location.

Click here to see the price and additional details.

For more information on this property or with help finding other options, contact the listing agent Sylvia Jennings.

1924 Berkshire Ln Colorado Springs CO 80909 Under Contract

November 10, 2017 by Toby Lorenc

1924 Berkshire Ln Colorado Springs CO 80909 Under Contract

1924 Berkshire Ln Colorado Springs CO 80909

Our agents are hard at work and haven’t seen much of a slow down, which we typically would this time of year. But we are still seeing homes going under contract quickly, especially in the $450,000 or less price range.

Recently, after 11 days on the market, 1924 Berkshire Ln went under contract. We had competing offers and now have a signed contract over list price. This is the ideal situation for a seller, when buyer’s are literally fighting over the seller’s property.

Remember too, that although many homes are going under contract the same day, they are listed or within a few days, our average days on market in the Colorado Springs area is currently 29 days on market. Even 11 days is still less than the average and makes for a happy seller.

1924 Berkshire Ln Colorado Springs CO 80909 Under Contract

Now, the process begins of going through the contract deadlines and the buyer’s opportunity to do an inspection, appraisal and look through important documents and information which allows them to make sure this is the exact property they want. Everything from confirming they can get homeowners insurance for the home, to the process of inspecting the home for any major defects or safety issues.

1924 Berkshire Ln Colorado Springs CO 80909 Under Contract

Truth be told, the Colorado Real Estate contract is definitely written in favor of the buyer. It gives you the the ability to set up multiple deadlines and opportunities to gather information and due diligence to check just about any resources that may influence your decision to buy a home and get a loan that’s satisfactory. That’s a great thing for you as a buyer! Talk to your favorite real estate agent for more details about your rights and opportunities as a homebuyer.

We’ll keep you update on that status of this property, plus you can always use our website to search and find the perfect home for you.

Berkshire Hathaway HomeServices receives J.D. Power Award

November 8, 2017 by Toby Lorenc

“Highest Overall Satisfaction for Repeat Home Sellers Among National Full Service Real Estate Firms.”

At Berkshire Hathaway HomeServices (BHHS), we are proud to be recognized and acknowledged with a prestigious award from JD Power and Associates:

Berkshire Hathaway HomeServices has been awarded “Highest Overall Satisfaction for Repeat Home Sellers Among National Full Service Real Estate Firms” in the J.D. Power 2017 Home Buyer/Seller Satisfaction Study.

We don’t tell you this to brag or to scare our competitors (well, maybe a little of that) rather we tell you this as a promise. Our experienced agents are dedicated to taking care of their clients and making sure they do everything in their power to earn your respect, trust, and business. That means having the right experience and expertise to walk you through the process of buying or selling a home, so that when you’re ready to do it again, there’s no question in your mind about returning to your Berkshire Hathaway HomeServices agent.

Our real estate agents are equipped with tools, knowledge and resources to help them be your best advocate in the real estate transaction. Many of the agents in our office specifically are QSC agents (Quality Service Certified) which means you have the opportunity to rate them after closing in a blind survey. Then, all their past client’s feedback and ratings are shown and disclosed to future home buyers and sellers looking for top agents. We’re proud of agents like Debra Faricy who continues to provide top level service and receive 5-star ratings from her highly satisfied clients. Take a look at her fantastic results and learn more about how the program works at https://ratedagent.com/find/real-estate-agent/5001763/debra-faricy.

Berkshire Hathaway HomeServices received the highest numerical score among 5 real estate companies for repeat home sellers in the J.D. Power 2017 Home Buyer/Seller Satisfaction Study, based on 5,117 total responses, measuring the perceptions and experiences of customers who bought and/or sold a home between March-April 2017. Your experiences may vary. Visit jdpower.com

As the leaves fall, Home Prices Keep Rising in Southern Colorado

November 6, 2017 by Toby Lorenc

Colorado Springs Market Stats for single family homes (Fall 2017)

This fall season may be a great time to sell your home at top dollar. Throughout southern Colorado, there’s a new surge of home buying activity as 2017 sets new records for home sales. The PeakDream agents are as busy now as we were in the summer. A large percentage of the activity is with buyers under the age of 35, who are moving here from all over the country with well-paying jobs.

The Pikes Peak Association of REALTORS reports the average home price is just shy of $320,000 – almost $25,000 higher than last year (see PPAR market trends). The median sale price increased just as much, from $255,625 to $280,538. Local single family home sales totaled 1,431 in October, a 13% increase over 2016, outpacing the number sold in June of 2015, which was also a record year.

There are 1,938 homes available for sale and over 1,700 pending sales. We have a 1.4 month supply, according to the PPAR, meaning that in many neighborhoods, most homes are selling in a few weeks. As we’ve indicated for the past few years, buyers need to be ready to move quickly on an attractive home when it hits the market, and be prepared to pay full list price, or more.

The condo and townhome market is off the charts, a trend we’ve been following all year, mostly due to the lack of starter homes at affordable prices.

And the market momentum is pushing further south into Pueblo and Fremont Counties, where home prices are comparatively lower but have also been rising fast. You can find Canon City homes and Pueblo homes for sale on our website search tool, where we feature listings throughout southern Colorado.

You might like these articles too:

http://www.peakdream.com/2017/10/changes-in-downtown-colorado-springs-bring-new-opportunities-and-energy/

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