Colorado Springs Homes Blog

You've pre qualified, you've looked at homes, and you've picked THE ONE.  You've almost recovered from your writer's cramp after signing and initialling the offer and all those disclosures.  Your offer has been accepted (or countered and agreed upon by you) and your earnest money deposited with the listing agent.   Congratulations, you're under contract!   Now what?

If you're financing your home, typically in Colorado you'll have about a month until closing, if that time frame works for you and the seller.

Your agent will submit the contract paperwork to your lender and the title company.  Your lender will start processing your loan, and the title company will order the title commitment.

Your agent will set up the home inspection.  If you're out of town and can't be there for the inspection, you can ask a friend to go along with your agent.

The title company does a search to see what encumbrances exist on the property, and what steps need to be taken to clear those up, and then issues the "title commitment".  Your agent will review the title commitment once he receives it (and you can review it too, especially if the excitement of buying your home is leaving you sleepless).

You'll be in contact with your lender, who will let you know what documents she needs from you.  Don't make and financial changes that will impact your credit report negatively!  Many purchases may need to wait until your property closes.  Also ensure you have your down payment money available for your closing date.

Your lender will ask you to arrange for home owners insurance.  If you don't already have an insurance company, your agent can give you a referral.

Once any inspection issues are resolved, your lender will order the appraisal.  The lender wants to ensure the home is worth what you're paying for it. 

Most time, all inspection items are completed by closing, and you may request that the seller provide receipts.

You'll need to arrange for your utilities to be connected, change your address with the post office, arrange for a moving company (or friends with trucks) and register the children in school. 

Once you have final loan approval from your lender, she'll submit the figures to the closing company, who creates your "settlement statement".  You'll see all the fees involved and learn the exact figure you need to bring to closing (in certified funds).  If you're closing long distance, you'll sign your documents in the presence of a notary, and mail them back with your certified funds, or wire the money to the closing company. 

You'll probably do a "final walk-through" of the home with your agent before closing, just to make sure everything is in order with your new home. 

In Colorado, buyers and sellers close at the same time.  Your agents will be present, and after all parties have signed the necessary documents, you'll get your keys!  You'll take some docs with you, and others will be mailed to you at your new home. 

Now it's time to move in!

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

Colorado Springs Shopaholics now have one less reason to make the trek to Denver. 

February 20^th  (reportedly even before the official 8 am time) saw the opening of our long awaited Costco, at 5885 Barnes Road at Powers Blvd.  The 158,000 square feet members-only wholesale club holds everything from seafood to jewelry (no reports yet on if our local store stocks caskets; a hot news topic from a few years back).  Eager bargain shoppers, and even news crews, flocked to the opening.

         One of the Costco employees said this is one of the nicest Costco stores she's ever seen, so we guess it was worth the wait.  There was plenty to sample, it was well organized, and the staff was very friendly.        

While the opening day saw brisk activity, it was much more sedate than Tuesday night’s non-shopping preview, when approximately 5,000 people showed up, crowding the store and snarling traffic in the area. 

This is Costco’s ninth Colorado location.  The company has 532 membership warehouses worldwide, including stores in Mexico, Japan, and Canada.  The corporation, based in Issaquah, WA, also plans to open stores in Australia.

The only credit card Costco accepts is American Express; they also accept checks, debit cards, and wads of cash.

While good deals abound, warehouse stores can be hard on the wallet, as we’re tempted to buy so much more than we need – or didn’t know we needed until we happened upon it – like the Frasier episode when Niles discovered a similar store, and bought a gallon of capers.  Perhaps a cheapskate friend or family member can accompany you on your first few trips… someone to say “you don’t need that!” 

Is it ever too early to start Christmas shopping? 

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

Do you want to participate in the American Cancer Society's Pikes Peak Relay for Life?  So far, there are 27 teams participating, and you and your team are also needed!  There's usually a $100 dollar entry fee per team, but if register by midnight on Friday February 29th, the fee is only $25.  Registering now will also give you plenty of time to collect your pledges by the event date - June 27th. 

For more information, or to register your team, you may call Brian Kellione at 719-636-5101, or visit the Pikes Peak Relay's website. 

Relay For Life - The American Cancer Society's Fundraiser

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

We apologize for the lateness of this post; somehow we missed our monthly market update at the beginning of the month.  We promise we'll do better next time.

There were 5,401 active single family listings in the Pikes Peak MLS in January; that is down 12.7% from January 2007.

534 homes sold through our MLS in Janurary.  While January is typically a slow month, that was 20.7% fewer sales than in January 2007.  But, to put this in a little better perspective, there were only 554 single family homes sold in January 2003.  Median and average prices are down, but neighborhoods vary, so call us for specifics on your neighborhood.  Statistics are useful but don't tell the whole story. 

It's a great time to buy a house!  The selection is vast.  If you know of someone considering buying his first home, we'd be glad to sit down with him to see if home ownership is right for him.  Or, if you're selling and buying another home, remember your replacement home can make up for concessions you give in your sale.  Call us so we can help you with specifics related to your personal situation.

*Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), through January 2008. RSC does not  guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

It's a beautiful day here in the Pikes Peak region, perfect for a drive in the mountains. 

For something a little bit different, there's the Cripple Creek Ice Festival, slated to be an annual event.  Don't miss this free family event featuring world renowned ice sculptors, who've created a stunning mountain scene using chainsaws and other tools.  To round out the fun, there's a beer garden complete with ice bar, live entertainment, and a chili cart (what's better than a steaming bowl of chili on a crisp winter day?)

The festivites take place on the 200 block of Bennett Avenue, and go through Monday February 18th.  Check out the Ice Festival's website for more information. 

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

On our last post we touched on why it's important for homeowners to be absent during showings. 

Buyers are uncomfortable when the sellers are present.  They feel awkward expressing their dislikes. They're being judgmental and they know it, and don't want to be judged on their judging.

"Nice" people won't want to hurt your feelings.  They are likely to say complimentary things about your home to your face, even if it's not a good fit for them. 

The buyers also need time to take in your house, from their perspective.  You may feel bound to point out all the wonderful features of your home, but they may not even be important to the buyers.  Besides, your agent mentioned all the good points in the listing - which likely resulted in the showing, - and it's the buyers' agent job to point out the merits of your home.

We recently showed a house where the seller was present.  Our clients are "nice" people, so of course they made small talk with the seller, and were careful not to say anything negative in his presence.   They were very complimentary about the grounds and the location, so the seller may have thought they were interested.  Once we left the property, the husband said ‘there wasn't one thing I liked about the inside of that house."  The seller also shared details of his relocation, so our clients got the impression he didn't need his asking price.  If they had been interested they would have offered less. 

Having the homeowner present makes the buyers uncomfortable.  Even though it's hard to predict buyers' psychology, you can usually count on that if someone is uncomfortable, their reaction won't be favorable. 

We know showings can seem inconvenient, but it's a necessary step to get your home sold.  Our goal is to get you to your new home as quickly as possible!

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

You did your homework, you've signed the listing agreement, and the showings - hopefully - are going to start tomorrow (or as soon as you're ready). 

In our local market, there are more available homes than buyers right now.  It's hard to get showings on homes, so when you do, it's important to make the most of each opportunity.

• Follow through on what you and your agent decided was necessary - the fixing, the painting, the de-personalization and the de-cluttering.   The competition is fierce, so you need your home's best features to shine through.   Don't overlook your command center/art gallery (the refrigerator).   
• Treat every day as if you're having company - and we know this takes a lot of effort!  A neat home gives the right impression.
• If you or your agent hired a professional home stager, take her advice!   She's not suggesting you put away your grandmother's embroidered throw pillows to be mean, and she's not saying you have to do without them forever - just until your home goes under contract. 
• Be as flexible as possible with showing hours.  Buyers don't always give their agents much notice - or, maybe they're out looking and see your for sale sign.   If the agent  can't show your home that day, it may be a missed opportunity.

• Consider the feedback you receive.  If several agents give similar feedback, and it's something that's an easy fix, it may help you to do it.  If there are severe criticisms that can't be fixed or are cost prohibitive, discuss them with your agent.  Your agent isn't passing on feedback to upset you - he, like you, wants your home to sell quickly. 
• Don't be present for showings.  We know this isn't always easy, especially if you have small children or an atypical work schedule, but at least step outside.   Buyers don't feel comfortable to look freely if the homeowner is present. 
• The correct temperature, lighting, and pleasant aromas all contribute to a positive showing. 
• Be available to your agent.  If you're going out of town, please leave contact numbers.  When the offers come in, there needs to be a quick response time.

Our goal is to sell your home as quickly as possible, so you don't have to be showing your home for long.

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in beautiful Colorado Springs, CO.  They welcome your real estate inquiries; to contact them, visit their website.

Most of us have been touched by cancer.  It seems rare that a person doesn't have a family member or friend who's dealt with this terrible disease. 

We are proud to take part in our local Realy For Life, which is The American Cancer Society's only fundraiser.  We've been participants, team leaders, and a co-chairmmen for this wonderful celebration of life.  

Teams of 10-15 people commit to walking or running laps (usually one person walks for one hour) - on a track from 7pm Friday to 7am Saturday. The events are held over night to represent that cancer never sleeps.  Each team pays a $100 entry fee - usually sponsored by a local business - and each team member commits to raising pledges of at least $100.

The relays are a purposeful way to honor those who have faced cancer first hand, while raising much needed money for cancer research.   These wonderful family events include entertainment, the survivors lap, a special dinner for cancer survivors, and the highlight of the evening - the lighting of the luminarias to honor survivors and lost loved ones.

The Pikes Peak Relay will be held on June 27th.  Contact the Colorado Springs branch of The American Cancer Society at 719-636-5101 for more information.  Or, log on to the website.

Ken and Sandy Wickham, the authors of this article, are REALTORS® with RE/MAX Real Estate Group in beautiful Colorado Springs, CO, and they welcome your real estate inquiries. To contact them, visit their website.

 Are you considering selling your home?  A little preparation before your listing consultation can help this adventure be more rewarding for you.

• Consider your time line.  Do you have to be somewhere else on a particular date, such as for a job relocation?  Are you planning door-to-door moves with a new purchase, or could renting temporarily be an option?  Do you want or need to move during the summer school break?  Or, will you be ready to move quickly when the right offer comes in?  Your time line will likely affect how aggressive you'll be with pricing your home.
• Look at your financial picture.  Do you have the means to pay your current mortgage while also paying for a second dwelling?  Will you have a comfortable down payment for you new home?
• What’s the situation with your current home loan, if you have one?  Is there any pre-payment penalty?  (Many times waived if it’s due to the sale of the home, but you and your agent need to know this).  How much equity do you have in your current home?
• What items can you do without?  Now is the time to organize and de-clutter, and since you’re likely not going to take everything to your new home, start sorting and packing now.  Model homes exude comfort, but don’t have a “lived in look” – piles of things on the flat surfaces, hobbies spilling over into the living areas, stuffed closets and garages, etc.
• Get re-acquainted with your home, and fix those things you may have been overlooking, but others are sure to notice.  If you always drive into your garage, walk up to your front door.  Look up and look down – often we’re very focused on eye level.  Clean and polish.  (You and your real estate agent will discuss what needs to be done before listing the home, but it’s essential to give your agent the best possible first impression of your home).  Plus, your agent may want to take some pictures at this point.
• Take steps to be sure your home can be shown easily.  Will you be able to have your pets contained?  Will your home be in showing condition every morning?  Will you be able leave the house during showings? Agents like to plan ahead, but often their buyers give them short notice, and you don’t want to miss out on any showings of your home. 

With a little planning, you'll be more relaxed and  ready once you and your agent decide to put your house on the market.  

Don't let you hard earned money fall prey to a scam.  Check out this article by Brian Krebs  in today's Washington Post about some tax rebate scams that are aimed at stealing your personal information. 

Many experts suggest this rule of thumb:  unless you initiate the request (and even then be very careful), never give out personal and financial information, especially your social security number and bank account information.  Unsolicited phone calls and emails should be a huge red flag to you.  

If you have questions or concerns about current IRS policies, log on to their website.