Colorado Springs Real Estate

Colorado Springs Homes - Animal Life

Tanya Stevenson-Becht (Park Avenue Properties) — Thu, 05 Aug 2010 11:29:53 -0400

Last week in the early morning of the day I brewed me morning coffee, poured it into my favorite mug, and walked out onto our back porch to bask in the quiet of the day. I was pleasantly surprised to have 6 friends join me footsteps from where I was sitting.

Colorado Springs is famous for its beautiful mountains. Along with this come all the mountain animals. It is common for those who live along Cheyenne Mountain, Garden of the Gods, or Palmer Park to walk out of their home and see many different species of animals.

It’s such an amazing thing to be able to having breakfast with 6 deer. Colorado Springs is a city full of surprises. I wanted to try and pet them but my daughter Trinity, talked me out of it.

If you have any questions about Colorado Springs or Colorado Springs Neighborhoods Call us at 719-548-9900

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

719-548-9900

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Golfers Dream Home Near Colorado Springs Country Club

Tanya Stevenson-Becht (Park Avenue Properties) — Fri, 23 Jul 2010 17:17:06 -0400

2320 Biltmore Court

Price Reduced to $344,900!

This Golfers and Outdoor Enthusiasts Dream Home is Nestled in Quiet St.Andrews. Just footsteps Away From the Palmer Park Trailhead and the Colorado Springs Country Club. Enjoy Hiking in the Bluffs and the Great Views of Colorado.

Custom Built 2 Story With Great Open Floor Plan Boasting 3450 Finished Square Feet. The 5 Large Bedrooms, Separate Study/loft Room & 4 Luxury Bathrooms are a Must to See.

The Gourmet Kitchen complete with black slab granite Counter Tops, Ceramic Back Splash, & Custom Gas Cook Top. Other Upgrades Include KitchenAid Dishwasher, Deep Stainless Steel Sink, Refrigerator And Walk-in Pantry

Main Level Family Room Features Vaulted Ceilings, Gas Fireplace, and Large Picture Windows to Enjoy the Bluff Views.

Separate Formal Dining And Living Rooms Includes Gorgeous Bay Windows.

Bask in the Spacious Master Retreat Featuring a 5 Piece Bath, Jacuzzi Soaking Tub, And His & Hers Walk-In Closets

Lower Level Rec Room Includes A Wet Bar, Sink, Fridge, Kegerator, Built-In Microwave Oven For Every Entertainer!

Ideally Located Minutes From I-25, Near UCCS College, Schools, & Many Other Amenities.

Find More Colorado Springs Homes Here!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

719-548-9900

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs 2010 Parade of Homes

Tanya Stevenson-Becht (Park Avenue Properties) — Fri, 23 Jul 2010 12:46:26 -0400

The 2010 Colorado Springs Parade of Homes is almost here! I love when the Parade of Homes rolls around especially for all of my clients. I receive many client calls for tickets, information, and suggestions on which homes not to miss! This year over 15 builders are showing off their very best to the public. Through out the parade you will view 23 homes from the high 100’s to over a million dollars.

In past years both I and many others have taken the ideas of the professional decorators who glam up each home and incorporated their ideas in our own home! If you have never taken time to visit the Parade of Homes you are missing out.

Whether you are in the market looking for a home or just like to walk around luxury you do not want to miss this year’s top of line tour.

I asked a client, Emily Meyers, who I gave 6 tickets to last year about their experience and they had nothing but good things to say. Emily took her entire family out for two days. They walked around in and out of each home. At the end of the tour they flipped two homes using what they had seen during this tour and both homes sold in under 30 days!

If you are interested in purchasing a home and want to go see the Parade of Homes call Your Colorado Springs Realtors at 719-548-9900 for discount tickets!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

719-548-9900

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Real Estate- Immaculate Home Near Fort Carson

Tanya Stevenson-Becht (Park Avenue Properties) — Mon, 12 Jul 2010 14:39:43 -0400

1147 Royale Drive

$164,900

Cozy Colorado Springs Home Near Fort Carson

Darling Brick Rancher
Curb Appeal Galore With This Well Cared For Home
Bright & Open With Skylight to Let in Natural Lighting
Situated On Spacious Corner Lot
2,188 Square Feet
Main Level Master Suite
4 Bedrooms
2 Updated Full Baths That Include New Tile & Fixtures
Great Room With Cozy Wood Burning Fireplace
Hardwood Flooring In Living Room & All Bedrooms
Remodeled Gourmet Kitchen With New Maple Cabinets, Custom Tiled Countertops, Center Island, and Tiled Flooring
Kitchen Includes Modern Appliances
Newer Exterior & Interior Paint
Newer Quality Composite Roofing
Main Electrical Panel Replaced Less Than 1 Year Ago
Brand New Garage Door With Opener
Security System Included
Top Of The Line Karastan Carpet in Finished Basement
Oversize 34X13 Family Room Perfect For Entertaining
Room For Theater Area & Pool Table
Large Laundry Area With a Wash Sink
Washer & Dryer Included
Plenty Of Storage & Shelving In Laundry Area
Relax & Enjoy the Private Covered Patio
6 Foot Fence For All Of Rear Yard
Play Set Included With Lots Of Room To BBQ & Have Fun
Gorgeous Mature Trees, Provide The Perfect Shade & Privacy
Nice Landscaping In Front & Rear Yard
Extended Driveway To Side Of Garage
Conveniently Located Near Military Installations
Blocks From Schools, Parks, Shopping & Medical Facilities
Nicest Home In The Area, Will Not Last Long!

For More Information On This Colorado Springs Home Near Fort Carson Click Here

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

719-548-9900

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Homes- 1147 Royale Drive

Tanya Stevenson-Becht (Park Avenue Properties) — Mon, 21 Jun 2010 12:50:48 -0400

1147 Royale Drive

$164,900

This Darling Brick Rancher is Primly Located Near Colorado Springs Fort Carson, Shopping, Restaurants, Schools, Hospitals and More! There is Curb Appeal Galore in This Well Cared for Colorado Springs Home. This is Truly the Nicest Home in the Area, it Won’t Last Long!

à Darling Brick Rancher

à Curb Appeal Galore With This Well Cared For Home

à Bright & Open With Skylight to Let in Natural Lighting

à Situated On Spacious Corner Lot

à 2,188 Square Feet

à Main Level Master Suite

à 4 Bedrooms

à 2 Updated Full Baths That Include New Tile & Fixtures

à Great Room With Cozy Wood Burning Fireplace

à Hardwood Flooring In Living Room & All Bedrooms

à Remodeled Gourmet Kitchen With New Maple Cabinets, Custom Tiled Countertops, Center Island, and Tiled Flooring

à Kitchen Includes Modern Appliances

à Newer Exterior & Interior Paint

à Newer Quality Composite Roofing

à Main Electrical Panel Replaced Less Than 1 Year Ago

à Brand New Garage Door With Opener

à Security System Included

à Top Of The Line Karastan Carpet in Finished Basement

à Oversize 34X13 Family Room Perfect For Entertaining

à Room For Theater Area & Pool Table

à Large Laundry Area With a Wash Sink

à Washer & Dryer Included

à Plenty Of Storage & Shelving In Laundry Area

à Relax & Enjoy the Private Covered Patio

à 6 Foot Fence For All Of Rear Yard

à Play Set Included With Lots Of Room To BBQ & Have Fun

à Gorgeous Mature Trees, Provide The Perfect Shade & Privacy

à Nice Landscaping In Front & Rear Yard

à Extended Driveway To Side Of Garage

à Conveniently Located Near Military Installations

à Blocks From Schools, Parks, Shopping & Medical Facilities

à Nicest Home In The Area, Will Not Last Long!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

719-548-9900

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Real Estate - Understanding a Purchase Contract

Tanya Stevenson-Becht (Park Avenue Properties) — Mon, 07 Jun 2010 16:37:42 -0400

It is very important that you know exactly what you are agreeing to do when you are completing your Colorado Springs Home purchase and sales contract. The following terms and tips will guide you along the way as you purchase your home in Colorado Springs.

Parties - You and the sellers name and contact information.
A legal description of property – Explains exactly what you’re buying and how the city officially views the property.
Offer or purchase price of property – How much you agree to pay for the property.
The date of the contract – The date you signed the contract.
The closing date - The date you and the seller are expected to transfer payment and ownership to each other.
Down payment amount – The amount you will contribute towards the purchase price in the form of cash or down payment assistance.
The terms of any escrow agreement – The exact actions and or professional services used in order to hold the deposit money and perform certain services.
Contingencies – Conditions to be met before transferring money and ownership.
Title Condition – The agreement that the seller will be able to sell a clear and trouble-free title of ownership to you.
Loan amount and conditions – How much you are borrowing from a lender and the terms of your mortgage.
Resolving disputes – How you and the seller will handle any issue which arises and cannot be resolved peacefully.
Personal property and fixtures – What is included with the house when you buy it.
Usage rights – What exactly you own and can use when you buy the property – more of an issue when buying condos, town homes and co-ops.
Payment to agent – The amount the real estate agents are getting compensated.
Additional Fees – Covers various fees such as title insurance, deed preparation fees, notary fees, transfer taxes, escrow fees, title search fees etc.
Escrow holder – The party holding the deposit funds.
Assessments and pro-rations – Details how the yearly taxes the sellers may have already paid, mortgage interest etc. will be paid and by whom.
Contract expiration date – When the contract expires and is no longer legally binding.
Damage to property – Details what will happen if the house is damaged or destroyed while in escrow or under contract with you before closing.
Possession – When the seller will move out and you can move in.
Time is of the essence – You and the seller must have the closing before the expiration date or the contract is null and voided.
Seller representations – Details the promise the seller states to be true about the condition of the house you are buying.
Entire agreement – Statement insuring that the purchase and sales contract is the only agreement between you and the seller.
Signatures – The final action that makes the contract legally binding.

If you have any remaining questions about your Colorado Springs sales contract don’t hesitate to call us anytime!

719-548-9900

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Top 10 Tips To Buying Colorado Springs Short Sales

Tanya Stevenson-Becht (Park Avenue Properties) — Fri, 28 May 2010 18:08:59 -0400

Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt.

The entire short sale process hinges on the hope that the bank will take a loss now, approve the sale, and eliminate the costly process of foreclosing, clearing, and reselling a home. Obviously, this is a big hope on behalf of prospective homebuyers as well and they need to understand some things in order to lessen the chance for disappointment of unapproved short sales. This is what they should know:

1) Price is usually set by the agent & seller, not bank - The agent and seller often create a very low asking price in order to attract buyers. The bank is normally unaware of the asking price; however, the bank has the final say in what an acceptable offer will be. Since the bank has the power to ultimately accept or deny offers, their lack of price awareness often leads to the process taking longer than anticipated. The bottom line is that the buyer needs to remain positive and patient throughout the entire process, sometimes even for months.

2) Loans owned by 1 bank usually better than 2 - If the seller has loans owned by two different banks it is a lot more difficult to approve the short sale. This is something the agent or the buyer cannot control; it simply depends on the willingness of the bank or banks involved. While the reasons are beyond the scope of this guide, buyers should know that when the seller only has loan(s) with one bank the short sale often becomes more buyer-friendly. A savvy Realtor can let you know this type of information.

3) Lowball offers get slow or no response - Remember that the bank is typically unaware of the pricing during a short sale. When lowball offers stream into the bank they are often scoffed at and rejected, giving the prospected buyers little or no feedback. Surprisingly, it may also take painstakingly long to hear back even on good offers due to the high volume of transactions lenders are inundated with these days.

4) Agent must check comparables before submitting offer - The agent must be sure to check recent home sales in the area to give buyers a better idea of the properties that are selling. This will give the agent and the seller appropriate grounds for an asking price that will be more likely to be approved by the bank. Checking comparables will also give the buyer a better knowledge of what price homes in the neighborhood are selling for and ultimately make them a more informed homebuyer.

5) Don't hang your hat on the property - Short sales aren't necessarily "short." It can sometimes be a very long process. Don't get your hopes up for just one property, keep your options open and continue to actively look at multiple properties. Buyers must remain optimistic, the right property will come along. In most areas it is completely legal and risk-free to have multiple offers out at any given time with the proper contingencies.

6) Sellers with other properties or too strong of financials may not qualify for short sale and/or may be asked to pay the difference - Sellers that own more than a handful of properties or have an extremely large net worth will probably not be eligible for short sale. In some cases the seller will be asked to pay the difference of the sale. The seller might even need to sign a promissory note stating that they will pay back all or most of the debt. This has virtually no effect on the buyer as long as the seller cooperates.

7) "Approved" prices are quickest - It is important to remember that short sales are not always timely; however, making an offer on an "approved short sale" can be a quicker process. An "approved short sale" has a price that has already been given the green light by the bank. This could be due to the fact that another interested buyer made an offer that was approved, but didn't end up buying the property. These types of short sales are some of the most highly desirable.

8) Some banks look want strongest buyers, some want strongest offers - The bank has all the power in approving short sales. The bank can pick the most appealing buyer, which may mean different things to different banks. Some banks may prefer the buyers with large down payments while others just want the highest price regardless of down payment. Many buyers want to know if they will get a deeper discount for an all cash offer. This is very hard to predict and one will never really know until they make an offer. As long as the buyer is surrounded by a good team we would advise them to do just that.

9) Repairs are seldom done, credit is more frequent - If there are improvements that need to be made on a home, even if they are necessary to get a loan, it is often unlikely that they will be done. Typically there is some sort of credit issued and the buyer must take the responsibility of fixing anything that is broken.

10) When you get approval, must close on time - During a short sale there is no leniency with the closing escrow date as there often is in a traditional sale. During a short sale, exceptions are rarely made and the buyer must close on time. Because of this, it is important to take care of all loan paperwork immediately after opening escrow. We'd advise buyers to be extra prepared and try to have the loan finalized a few days in advance of the closing date. If there is going to be an issue that will prevent closing on time, a request for an extension will need to be made immediately. If the request is made early enough, many banks will grant an extension but don't just assume it will happen.

Conclusion
Short sales can be a great opportunity to find your new home at a competitive price. A Short sale could also be a major headache that lasts for months. It is important to have a good understanding of the factors that lead to a successful short sale to make it an enjoyable and profitable experience. We hope that these tips will help you to remain positive and optimistic throughout the process.

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Memorial Day Weekend

Tanya Stevenson-Becht (Park Avenue Properties) — Fri, 28 May 2010 17:52:55 -0400

We truly hope you are looking forward to Memorial day weekend in Colorado Springs! For all of those that are ready to relax and enjoy the great weather we wanted to give you a few ideas of what to do with all your spare time! In the midst of it all make sure to take a few moments to think of all the great soldiers that gave their lives so that we could have the freedom we have!

What is going on it Colorado Springs Memorial Day 2010:

Colorado Springs Territory Days

Amazing music lineups, food from around the region, vendors, activities and so much more define this celebration of Colorado's history. Be sure to park 8 feet from stop signs. They will be ticketing. There will be a shuttle from Coronado High, 1590 W. Fillmore Street.

Colorado Springs Garage Sales

You can already see signs packing the intersections. To see where the good sales are at view the provided link!

MeadowGrass Music Festival

Grant-Lee Phillips, Gregory Alan Isakov, Grant Gordy Quartet, Martha Scanlan and so very much more. The weather is supposed to be beautiful. This is the place to be if you love incredible music in a wide-open natural setting. Camping is an option, but you have to make reservations (719-495-2743).

Tribute: In Honor of Our Military

Cottonwood Center for the arts presents a tribute to the military and their families. The show will feature artists from around the region in addition to selected historical pieces on loan from Peterson Air Force Base, the Air Force Academy, and Fort Carson.

Colorado Springs Mercedes-Benz Club of America Car Show

Who doesn't like to look at Mercedes-Benzs? The Mercedes-Benz Club of America is right here in Colorado Springs, and they polish up their snazzy vehicles and put them on display.

Royal Gorge Military Appreciation Month

You have one more chance to take advantage of Military Appreciation Month at the Royal Gorge! All active and retired military personnel with military ID and their families (up to 6 people) will receive 50% off the general admission price. The Royal Gorge is truly a sight to behold. Probably not for acrophobics, though. The bridge is 1,053 feet in the air. The Arkansas River looks like a little blue squiggle.

Colorado Springs Sky Sox vs. Portland Beavers

Sky Sox are home all weekend long! There will be fireworks for the two night games. On Monday, the Championship for the Guns vs. Hoses (cops vs. firemen) charity softball game will take place prior to the Sky Sox.

Gypsy Jazz Jam

Gypsy jazz is a type of jazz that was popularized in Paris in the 1930s. It's an energetic and exciting music style and a perfect end to the Memorial Weekend.

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Condo - 3650 Strawberry Fields Grove - South West Colorado Springs Condo

Tanya Stevenson-Becht (Park Avenue Properties) — Thu, 22 Apr 2010 11:38:16 -0400

3650 Strawberry Field Grove

$151,900

Immaculate Second Floor Unit in the Popular Colorado Springs, Colorado Strawberry Fields Complex. Three Large Bedrooms and Two Full Bathrooms combined with vaulted ceilings, custom gas-log fireplace, seperate laundry area, & spectacular mountain views make this one of Colorado Springs Finest Condos! Enjoy the country kitchen w/ hardwood flooring, plenty of cabinets and counter space, breakfast bar open to dining room and all appliances perfect for cooking your favorite meals. Master Suite joins with master bathroom and includes a walk-in closet. This condo is located perfectly near all of Colorado Springs finest ammenities and military bases.

Click Here For More Information Or to Schedule a Private Showing Of This South West Colorado Springs Condo!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Real Estate Active Listings

Tanya Stevenson-Becht (Park Avenue Properties) — Wed, 21 Apr 2010 15:56:58 -0400

Colorado Springs Active Listings are beginning to decline. This is great news for all Colorado Springs Home Sellers! When the gap lessens between homes available and active buyers it creates great opportunity for sellers to get the best price for their home! We see from information provided by Empire Title that compared to the past two years the Colorado Springs active listings are beginning to move quicker creating a better market for Colorado Springs Real Estate.

If you are looking to Sell Your Colorado Springs Home call your Colorado Springs Realtors at 719-548-9900 or email us at office@parkavehomes.net for your free home report!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs- Powers Corridor 4 Bedroom Immaculate Home For Sale

Tanya Stevenson-Becht (Park Avenue Properties) — Wed, 14 Apr 2010 11:59:35 -0400

Popular "Willow Floor Plan" features 4 spacious bedrooms all on upper level, 3 complete bathrooms, bright formal living room w/ large windows opening to incredible Pikes Peak home views. Separate formal dining area opening to kitchen & sitting area. Enjoy the sun-filled eat-in breakfast nook w/ large bay window, private master retreat, and large backyard with 18X12 patio.

Extra Features:

Brand New Roof
Brand New Interior & Exterior Paint
Just Installed High Quality Carpet
Mahogany Wide Plank Wood Like Flooring On Main Level
Central Air Conditioning
Newer Water Heater & Furnace W/ Humidifier Installed In 2008
Automatic Sprinkler System In Front & Rear
Meticulously Manicured Yard
Near Military Installations Restaurants, Shopping, Medical Facilities, Parks & Schools
School District #49

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs Local Real Estate Market Snap Shot

Tanya Stevenson-Becht (Park Avenue Properties) — Wed, 07 Apr 2010 15:13:07 -0400

Local Market Snapshot

A brief update on market conditions in Colorado Springs and the Pikes Peak area: the first quarter of 2010 has brought more stabilization to the Pikes Peak area housing market, and encouraging economic news for El Paso County. (Regardless of what the media portrays) J

The inventory of single family homes for sale continues to decline, which has begun to stabilize home prices and decrease the housing surplus. The average Days on Market has decreased by 9% over the past 30 days. There were 313 more homes under contract in March 2010 compared to March 2009.

Continued record-low interest rates as well as extended federal tax-incentives for both first-time home buyers and move-up/move-down homebuyers have helped spark area home sales, especially in specific price ranges. It is an excellent time to buy, with rates currently as low as 5% for Conventional Financing and as low as 4.875 % for both FHA and VA loans.

Economic information presented on January 7th, 2010 at the annual Colorado Springs Economic Forecast shows projections of increased employment rates, average wages/salaries, and single family housing permits in 2010 compared to 2009.

For the first quarter of 2010, sales in El Paso County have increased by more than 16%, compared to the first quarter of 2009. We foresee this trend continuing throughout 2010 for the Pikes Peak region.

As a side note, Colorado Springs was ranked 3rd in the nation among cities for Housing Recovery by Forbes.com, ranked 28th in the top Best Places to Live from CNN Money, and ranked 7th in the top places to raise an Outdoor Kid by Backpacker Magazine.

Please contact us if you would like market information on specific neighborhoods, or a Complimentary Market Analysis on your home.

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Monument Horse Property! Colorado Springs Country Home - 18655 Emerald Lane Drive

Tanya Stevenson-Becht (Park Avenue Properties) — Tue, 09 Feb 2010 15:02:07 -0500

Equestrian Lovers Dream!

5.96 Serene Acres Zoned for 6 Horses

4300 Custom Morton Horse Barn W/ Cistern & Electricity

Barn W/ Stalls, Indoor Riding Arena, Outdoor Riding Area, W/ Top Of The Line Vinyl Fencing

All Horse Supplies & Panels Included

6 Spacious Bedrooms & 4 Bathrooms

3-Car Attached Garage W/Workshop & 2 Skylights

Boasting 4,864 Total Sq Ft

Built In 1994

Main Level Study

Spacious Living Room W/Cozy Stone Hearth Gas Fireplace

Gorgeous Country Kitchen W/Hickory Flooring & Handcrafted Hickory Cabinets, Ample Counter Space

Large Walk-In Pantry W/ Custom Shelving

New Viking Gas Cook top, Wrap Around Breakfast Bar That Opens To Dining Area

Side By Side Refrigerator, Double Range Ovens, & Nice Dishwasher Included

Formal Dining W/Window Seat To Relax & Enjoy Incredible Views & Built-In Cabinetry

Master Suite W/5 Piece Adjoining Bath To Include Walk-In His & Her Closets

Family Room In Lower Level Perfect For Billiard Area or Home Theater System

Walk-Out Lower Level W/ Two Separate Storage Rooms

Lower Level Could Easily Be Converted Into Apartment or Mother-In Law Suite

Convenient Main Level Laundry Room Complete W/ Wash Sink, Washer, Dryer, & Plenty of Built-In Cabinets

Upgraded Features To Include: New Vinyl Windows, 9 Ft Ceilings, 6 Panel Doors, New Exterior Doors, Updated Hardware Through Out

Enjoy The Panoramic Views From The Front Porch Or Back Deck

Low Maintenance Yard W/ Beautiful Pine Trees & Natural Landscaping

School District #38

Easy Commute To Denver & Colorado Springs

Click Here For More Property Information

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Investing In Colorado Springs Real Estate - Flipping Real Estate

Tanya Stevenson-Becht (Park Avenue Properties) — Mon, 15 Mar 2010 15:39:20 -0400

I’ve worked with many investors in the past few years. Many have invested intending to flip their property and have greatly succeeded! Experienced home flippers know that there are pitfalls to any promising piece of property and there all investors can only benefit from learning from others mistakes.

Read these 11 pitfalls and mistakes to avoid when Investing in Colorado Springs Real Estate and how to work some of the situations to your advantage.

1. If you don’t have a healthy financial situation, you’re best bet it to put flipping on the back burner for now

Healthy Financial Situation Includes:

* Full-time job.
* Income that allows you to put away 10 percent of your monthly income for savings or retirement.
* Six months of income already put away in either a savings account, CD or some other form of liquid holding that draws interest.
* Account separate from your savings or CD with $10,000 for repairs on your future investment.
* Potential investment partner or partners.

2. Don't use a stated income loan, better known as "liar loans."
Stated income loans were created to help individuals with variable income qualify for home loans - e.g., small business owners or those who work sales commission jobs. Very little or no proof of income is required for stated income loans; although, they typically charge a higher interest rate to cover the risk. Click here for more Colorado Springs loan information

3. Don't be untruthful on your loan application.
It is a federal crime to lie on a loan application. You may get the loan, but, if you are caught, you face charges of mail fraud, wire fraud, bank fraud and possibly others. Common fallacies submitted on mortgage applications include an overstatement of income, understatement of debts, and a commitment to live in the home as the primary residence.

4. Don't start without a business plan.
If you don't have a personal financial budget, create one. Then, create a business financial budget that indicates how much you have set aside and what you can allocate out of every paycheck for repairing future properties. If your business plans falls short of savings for repairs, wait to flip until your finances are healthier. If you have questions or would like help creating a business plan for Colorado springs investing please contact me!

5. Don't take on too many projects at once.
Start with one property. Once you get your feet wet with a successful flip, go on to another one. Don't get in over your head with too many properties. Unless you have partners who are committed to jumping in with both feet with you, it will be in your best interest to proceed cautiously.

6. Don't buy a home site unseen.
Never, ever, buy a home site unseen. It doesn't matter if it is located in the classiest part of town, the asking price is lower than half of what area homes go for and the seller is willing to pay your closing costs. Simply put, don't do it.

7. Don't buy a home with structural problems.
Structural problems, like a leaky basement or cracks in the foundation, are an invitation to huge out-of-pocket expenses. Even if you have an expert assess the situation and a licensed contractor who is willing to do the work, but still allow you a healthy profit, you don't know that the job won't still turn south on you once you sign on the dotted line. Don't dive into that pond of possibilities.

8. Don't buy the property unless you can afford to carry the mortgage if doesn't sell quickly.
Unless you have monthly income that covers all your expenses and can pay for another mortgage, ignore that flipping itch for now.

9. Don't quit your day job.
You find THE home that is going to net you a pretty penny, one that will pay your salary for a year, and you think, "I can quit and do this full-time!" Think again. You may net a year's salary from the flip; however, you may not be able to do it consistently. Wait until you see that you have the knack for turning properties at a significant profit, and then consider quitting your day job.

10. Don't start without a good exit strategy.
Good intentions don't necessarily develop into dollars. Even if you've done all your homework, followed the ten steps to successful flipping and received a great interest rate on your financing, the situation still has the potential to go south. You received the loan you wanted, performed all the remodeling necessary and you're sure the home will sell the day it hits the market ... but it doesn't. You go through several months of mortgage payments only to find that it simply isn't selling, no matter how much you cut the price. Do you have an exit strategy? Maybe you can rent the property out, rent it out with the option to buy or have someone else assume the loan with little or no money down. Whether you run into remodeling that will cost you more than you anticipated or other unforeseen problems, you need to consider all the possibilities that could occur and have a good exit strategy.

11. Make sure you have good advice for your first time investing

Having good advice from an experience flipper or a Colorado Springs investment property specialist is crucial! Many homes have hidden or unexpected problems. Taking an experienced party with you to help you speculate the property could make or break you!

I am very experienced with investment properties. My husband and I have our own investment properties and have also helped numerous families invest in Colorado Springs Real Estate! If you are looking to invest in Colorado Springs rental properties or are wanting to flip a property we would love to talk with you!

Call me, Tanya Stevenson-Becht, at 719-963-6582 anytime!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

Colorado Springs District 20 Schools - Rachel's Challenge

Tanya Stevenson-Becht (Park Avenue Properties) — Wed, 10 Mar 2010 14:31:58 -0500

Earlier this year Colorado Springs District #20 hosted “Rachel’s Challenge” high school assemblies. This was produced from the never forgotten Columbine shooting in April of 1999 where two students walked in to Columbine High School in Littleton, Colorado armed with guns and bombs. Rachel Scott, was the first to be killed. She held a high standard for herself. She loved God and left behind many precious journals, essays, pictures, and memories. After the shooting her father found an essay under her bed. She titled this essay, “My Ethics, My Codes of Life.” In this essay she wrote about the power of kindness and compassion. She encourages her readers to start a chain reaction of compassion and kindness in their own sphere. Later she writes that we will never know how far a little kindness can go!

I was very inspired by the words of this young lady after reading this essay. She writes with such a genuine love for people. The 45 minute school assembly also incorporates passages from her other journals. This year 686 presentations have been made in United States schools. I was so proud of our Colorado Springs School District # 20 to make a point to incorporate something so life changing for many students. High school parents from Air Academy, Liberty, Pine Creek, Discovery Canyon, and Rampart high schools were also invited to a presentation.

You can read more about Rachel’s Challenge at http://www.rachelschallenge.org/

In July of 2010 The Rachel’s Challenge Summit will be coming to Denver to show school directors and superintendents the presentation and the power of having it in our schools. Many guest speakers will be present. Click for more information on the Rachel’s Challenge Summit.

Click here to read more Colorado Springs School District #20 News.

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net