This is the busiest time of year for buyers and sellers relocating. Whether you're selling your home or just moving to a new rental, make sure you've covered your bases so you don't end up getting scammed by a moving company. Check out the full story:
http://rismedia.com/2009-06-29/home-buyer-beware-3-little-known-moving-scams/
Whether you're a property manager or a homeowner trying to sell, prepare yourself for the upcoming law going into effect July 1st. It's called the Lofgren and Johnson Families Carbon Monoxide Safety Act and on July 1st 2009, sellers will be required to install a carbon monoxide detector in their home prior to closing and handing over possession to the buyer, as well as landlords that have rental properties. There are some stipulations (such as dwelling units that have a fuel fired heater or appliance, a fireplace, or an attached garage) but it pretty much includes all homes.
You'll need to install these within 15 feet of every bedroom in the home. The law is a bit unclear about what height these have to be placed and who exactly is going to enforce this law. But, don't delay your closing (as a seller) or get yourself into trouble (as a landlord) but not installing either a battery operated or hard-wired detector.
Check out some resources for more information or contact me for a 10% discount to purchase these at Lowe's:
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The City of Colorado Springs has announced they will start assessing liens on property owners who are behind on their Stormwater Enterprise Fee payments. If you're not familiar with the program, it means you are probably one of those who hasn't paid your quarterly fees or you don't live here. Basically, Stormwater Enterprise was established to collect quartely fees from homeowners and use that money to complete improvements and projects for our drainage systems. Your fee is calculated based on the total amount of impervious surfaces on your property to include driveways, rooftops, patios, sidewalks, etc. But don't panic - the average quarterly fee for a residential property is only $12.75. Unfortunately, this is a fee instead of a tax so you can't write off this cost at the end of the year on your taxes. I'm not going to go into detail, but click here for frequently asked questions about SWE.
Here's the real problem - some people aren't paying! More than some - there's nearly $2.45 million in unpaid fees at this point. So the city made it known today that they will start assessing liens to properties of deliquent homeowners. The city claims they are willing to work with you on a payment plan but don't let this go to collections or you're up a creek (pun intended).
Now for my two cents: seriously?!? If the average bill is $12.75 a quarter, that's about 0.14 cents a day folks! Do you really need a payment plan? $4.25 a month? That's not even a pack of cigarettes (now that the tax has gone up), a combo meal at Wendy's, or a dozen color copies at Kinko's. It's really not worth getting a lien on your property.
Have you heard about this program - $8,000 tax credit for 1st time home buyers? Let me just start of saying it's a pretty good program if you're looking to purchase a home. There has been so much confusion around it since they started with the $7,500 tax credit (which had to be repaid) but the $8,000 is a true credit and you DO NOT have to repay this amount.
Plus, this is not just for first time homebuyers - the requirement is that you haven't owned a home in the last 3 years. As with any government program, there are some requirements that you have to meet such as living in the home for 36 months (3 years for those of you who struggle with math and calendars), must be your primary residence, and you must close before DEC 1 2009. Also, you must not exceed $75,000 annual salary as an individual or $150,000 as a couple to receive the full $8,000.
Talk to your tax professional to see if you're a good candidate and check out http://www.federalhousingtaxcredit.com/2009/home2.html for more info. Keep in mind that you may be able to amend your 2008 taxes and receive the money immediately!
Once you've had a talk with your tax professional, contact a professional Realtor to get a better idea of housing options.
We're still in a buyer's market and buyers today have the opportunity to be very picky. Although there are many homes for sale in Colorado Springs, many home buyers are looking for a house that is "move-in ready" meaning it doesn't need much work (if any) before the buyer can take possession and make a house their home. It still amazes me that many sellers aren't picking up on this - thankfully, I have a seller that knows exactly what buyers are looking for. A home with brand new Frigidaire appliances, including matching dishwasher, refrigerator, oven and microwave are waiting for the next buyer who is tired of looking. 
The energy efficency of this home doesn't stop there - vinyl windows throughout and ceiling fans in every bedroom. This should be an easy decision - this 
home has a BRAND new hot water heater, the main level is complete with hardwood floors, a newly updated kitchen, and totally renovated 5-piece bathroom! There's plenty of room too - 4 bedrooms plus and office in over 2100 sq ft of finished space! But it gets better - beautiful Pikes Peak mountain views and level yard space for outdoor activities. We're even including the swing set in the backyard. What else could you want? Storage space - okay. Huge laundry and storage room with built-in shelving, a 1-car garage with workshop table and additional storage space above. Finally, if you have any worries at all, we're purchasing the buyer a 14-month Blue Ribbon Home Warranty to squelch any possible concerns. Yeah, I know. It's amazing. Come check it out online or contact a Colorado Springs Real Estate Agent for a showing.
MLS#598372
1523 Keaton Lane
Toby Lorenc, RE/MAX Properties, Inc.
(719) 332-4816
Good news - USA Today reports foreclosures are down 10% in January and you can check out the State-to-State foreclosure statistics for more info. Colorado was number 11 in the county for foreclosures in the month of January, with 1 in every 492 homes foreclosing. More encouraging news is that Colorado foreclosures are down nearly 37% from January 2008.
Check out the full article here or contact me for a list of bankowned properties that are currently for sale.
Also, check out my website for more information on foreclosures, bankowned properties, short sales, and HUD homes in Colorado Springs and El Paso County.
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