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Vol. 8 No. 7
March 28, 2016
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H EA DS E T S :
Real estate game changer?
Virtual reality headsets may help buyers see your listings up close without setting foot in the property. BY MELISSA DITTMANN TRACEY
Builders are beginning work on more single-family homes across the country, which could offer some much-needed inventory relief for many housing markets. Housing starts nationwide are up nearly 31 percent year-over-year. In February, housing starts jumped 5.2 percent alone on a month-over-month basis to a seasonally adjusted annual rate of 1.178 million units, the Commerce Department reported Wednesday. Broken out, single-family production rose 7.2 percent month-over-month to 822,000. That is the highest level since November 2007. Meanwhile, multifamily starts mostly held flat last month. “It means that home builders are responding to the demand out there,” says Jonathan Smoke, realtor.com®’s chief economist, about the new report. “We don’t have enough supply of homes to keep up with the increase” among a growing number of buyers entering the market. All four regions of the U.S. posted gains in housing starts last month, except the Northeast. The West posted the largest month-over-month gain as new-home starts climbed 26.6 See New Homes | 2
Showing a home in person could become passé. The day is coming when buyers will slip on a virtual reality headset and be transported to a home where they can wander from room to room and size up whether it feels right without actually visiting. The technology brings your listing directly to your buyers, whether they live in Shanghai or down the street. EARLY PROMISE The early promise of VR centered on videogames, but the technology is now finding commercial applications, including some presented in January at CES 2016, the world’s biggest consumer electronics show. VR is gradually entering real estate as brokerages start to get a feel for what the technology is all about. Some companies anticipate that consumers will gravitate to VR in the next few years, making the headsets musthave devices and creating an opportunity for brokerages, especially those focused on highend-properties. Driving the expected boom is a critical mass of available systems as VR headsets become more available to consumers. Google’s low-cost Cardboard viewers come as either a fold-out cardboard format or a plastic headset that works with an iOS or Android phone, while more sophisticated consumer models debuting this year include the Oculus Rift ($599), slated for March, and HTC’s Vive Pre, which ships in April for $799. Matthew Hood of Sotheby’s International Realty in Los Angeles has been experiment-
WCR March Luncheon
Souther Colorado Commerical Brokers 'Deal Makers'
Peak Producers 2016 Kick-Off Reception
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GREAT REACTIONS “It blew us away,” says Jonathan Kaufman Iger, CEO at Sage Realty Corp. in New York, referring to the first time he saw VR’s potential for commercial real estate through a pitch from Floored, a company that creates 3-D graphics for the real estate industry. Sage has since started to use the technology for its own offerings. In the spring of 2015, it hired Floored to develop 3-D mock-ups of some of its commercial spaces; the brokerage could then show the spaces to prospective tenants on an early prototype version of the Oculus Rift headset. Sage is using virtual staging for some office spaces it leases on Madison Ave., including 800,000 square feet of space at an office tower, so prospective tenants can envision how the offices could be outfitted. “It can be difficult to step onto a raw floor or existing space and visualize the layout,” Iger says. See Virtual Reality | 5
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ing for more than a year by allowing clients to tour multimillion-dollar residences using the Samsung Gear VR headset (available for $99 for certain Galaxy smartphones). For example, his clients can view a $6.95 million ocean-side Malibu property in 3-D by putting on the headset, which then fills the buyers’ complete field of vision with the 10,000-square-foot home. The technology allows users to look up, down, and from side to side as they take in the spacious kitchen, wine cellar, and outdoor infinity pool, along with details such as the wrought-iron chandelier and French limestone floors.
Sharon Ballinger
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Edward Duncan
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Loan Officer
Loan Officer
Loan Officer
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(719) 331-2750 chad.denny@academy.cc
(719) 380-1778 debbie.havens@academy.cc
(719) 491-2500 sharon.ballinger@academy.cc
(719) 264-1968 edward.duncan@academy.cc
(719) 232-7553 will.michaloski@academy.cc
(719) 264-1952 marianne.elepturner@academy.cc
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josh@csrej.com Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colorado Springs, Colorado. CSREJ is published once a month and distributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Building Association and many other industryrelated professionals. CSREJ is not responsible for any opinions or facts expressed by non-staff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content. Realtor® is a registered trademark. Sometimes the word Realtor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The registered trademark should be assumed if it is not present.
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Here is an overview of some of the latest housing indicators from NAR’s February housing report. 1. Home prices: The median existing-home price for all housing types in February was $210,800 -- up 4.4 percent from a year ago ($201,900). 2. Inventories: Unsold inventory in February was at a 4.4-month supply. Total housing inventory by the end of the month increased 3.3 percent to 1.88 million existing homes available for sale. Inventories are still 1.1 percent lower than a year ago (1.90 million). 3. Days on the market: Thirtyfive percent of homes sold in February were on the market for less than a month. Properties, on average, remained on the market for 59 days
New Homes from 1 percent, followed by a 19.9 percent increase in the Midwest, and a 7.1 percent rise in the South. The Northeast, on the other hand, posted a 51.3 percent month-over-month decrease in February. Overall, "February's single-family gains indicate that this sector is strengthening in line with our forecast," says David Crowe, chief economist of the National Association of
4. Distressed sales: The number of foreclosures and short sales rose to 10 percent in February, up from 9 percent in January. That said, distressed sales are down from 11 percent a year ago. Foreclosures made up 7 percent of sales and short sales comprised 3 percent sales. Foreclosures sold for an average discount of 17 percent below market value in February; short sales were discounted, on average, 16 percent below market value.
actions in February, a drop from 26 percent a year ago. Investors make up the biggest bulk of all-cash purchases. Sixty-four percent of investors paid all-cash for their home purchase in February. “Investor sales have trended surprisingly higher in recent months after falling to as low as 12 percent of sales in August 2015,” Yun says. “Now that there are fewer distressed homes available, it appears there’s been a shift towards investors purchasing lowerpriced homes and turning them into rentals. Already facing affordability issues, this competition at the entrylevel market only adds to the roadblocks slowing first-time buyers.”
5. All-cash transactions: All-cash sales comprised 25 percent of trans-
© Copyright National Association of Realtors. Reprinted with permission.
Home Builders. "As the U.S. economy firms, job creation continues and mortgage interest rates remain low, we should see further growth in housing production moving forward." However, the number of new permits – an indicator of future building – did post a drop in February compared to January. That could signal at least a temporary slowdown. Permits fell 3.1 percent in February month-over-month, but most of that was attributed to an 8.4 percent
drop in multifamily permits. Singlefamily permits inched up 0.4 percent to 731,000 in February. A turnaround is likely coming to the Northeast, with permits rising 40.4 percent in February. On the other hand, the Midwest posted an 11.4 percent decrease in permits, the West saw a 7.2 percent decrease, and the South had a 4.4 percent drop in permits.
in February, below the 62 days from a year ago. Short sales were on the market the longest amount of time at 126 days. Foreclosures and nondistressed homes were on the market a median of 57 days.
© Copyright National Association of Realtors. Reprinted with permission.
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March 28, 2016
Stephanie, Lori, Amy, Bobbi & Jade.
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The Bobbi Price Team with the Platinum Group Realtors is proud to announce the exclusive representation of two very special interactive builders. These builders are known for their integrity, quality, professionalism, and their personal interaction with the families who build homes with them.
Gray Homes www.grayhomesinc.com 719 536 4304 Dave Gray has been building homes for over 12 years in Colorado Springs. His experience, knowledge, and style are reflected in his homes. From innovative product lines not seen in Colorado Springs to clean, modern luxury, Dave Gray has the ability & knowledge to accommodate any family or lifestyles of all types. Catering to his clients needs, you will see Dave throughout the home building process, which is a process like no other. Dave Gray is excited to offer his homes to families in Wolf Ranch starting in the low $400’s. Customer Satisfaction isn’t just a myth, it’s a legend at Gray Homes. For more information on “move in ready” homes, please visit them at their model: 5916 Fergus Drive, COS, CO 80924
Chartercraft Homes www.chartercrafthomes.com 719 536 4303 Marty Christiansen has hand crafted over 450 homes in Colorado Springs and the surrounding rural areas since 1992. Chartercraft has over 20 floorplans and Marty personally meets with every buyer to allow the family’s to put their personal footprint on each of them. Currently building in 4 Way Ranch and Park Ridge, Chartercraft is no stranger to building homes on personal home sites. Homes starting in the mid $400s Charter-craft also offers home sites with acreage and stunning views. For more information on “move in” ready homes, please visit them at: 13516 Gilbert Rd., Peyton, CO 80831
For Additional information, you can contact Stephanie Hawthorne at: 719 210 0480
Our preferred lending team
MARCY LANGLOIS Mortgage Loan Originator (719) 265-5147 mlanglois@pmglending.com NMLS# 452580
March 28, 2016
RICH DILLMAN Sales Manager (719) 201-8193 rich.dillman@caliberhomeloans.com NMLS# 298994
Colorado Springs Real Estate Journal www.csrej.com
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It Takes Out The Trash. It Shovels The Snow. It Mows The Lawn.
Of Course It Sells Itself. ou know those clients who can’t quite get there? Who’ve never embraced the notion of being a “home body” and who somehow equate “settling in” with being “tied down?” Well, guess what? Estancia at Cordera is ready to win them over. The young couple who spends their weekends in the mountains? Those empty nesters who fly off to visit the grandkids every holiday? Your busy business exec who wonders if it might make more sense just to live in an extended stay hotel until he retires? We’ve got an eye-catching villa-style home to fit each of them.
You Do the Living, We’ll Do the Rest Estancia Is Easy Living... Spacious villa-style ranch plans
Heated outdoor pool
Stucco & stone exteriors
Fitness facilities, meeting rooms
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Nearby public golf courses, shopping & entertainment
Landscape maintenance Interconnected, landscaped community trails
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Over 40 acres of open space Community center
Estancia at Cordera. It makes sense to people on the go, because it’s all about easy. Easy living at its simplest, finest, and most affordable.
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Colorado Springs Real Estate Journal
March 28, 2016
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National News Virtual Reality from 1 Now, clients can go to a marketing room in the building, put on the Rift headset, and instantly get a 360-degree rendering of the space built out as a restaurant or an office area (check out sample views at realtorm.ag/VRrendering). Tenants can also see what the $40 million renovation for the office building’s outdoor terrace will look like when it’s completed. Because the Rift requires a constant connection to a high-powered computer, the tours are done from a rig set up at an office. The brokerage hopes one day that prospective tenants can don the headsets as they are touring the actual space. “It’s been tremendous,” Iger says about the feedback from clients who have used it. “You can get a better sense of the depth and scope of a space through the headsets. This really helps to offer a firm understanding of what is possible in an otherwise empty space.” Doing a 360 For now, real estate companies who want to venture into VR need to buy their own headsets and equipment that’s powerful enough to capture a 3-D video or scan of the property that’s compatible with the headset. An alternative is to work with companies experienced in VR production. Hood says he has paid about $500 for a 3-D scan of a 3,000-square-foot home to use with his VR headset. Hood has used compatible 3-D scans from Matterport, a 3-D imaging provider, that let viewers move from room to room by focusing on a dot that the software projects onto the image of the room. Hood also has experimented with 360-degree video, attracted to the additional realism of such details as palm trees blowing in the breeze outside the home. These videos can be created using GoPro or other 360-degree cameras that record multiple angles of various points in the home and then stitching the movies together to be seen using a VR headset. But the costs of hiring a professional to shoot 360-degree videos can be high—$3,000 or more. Matterport is currently testing scans that can be viewed with the Samsung Gear VR and plans to roll out to other VR headsets in the coming months. (The price has yet to be announced.) Floored has been offering 3-D renderings compatible with the Oculus Rift for two years. (The price is typically $2 to $7 per square foot for residential and less than $1 per square foot for commercial.) Until costs come down, 360-degree property tours using VR will likely remain in the luxury sphere. But the time-saving potential for you and your clients is enormous, and eventually the technology should be more widely accessible. One day your clients could view 20 homes from your office in an afternoon using a VR headset. What’s more, out-of-town and international buyers could view properties without having to get on a plane. “VR gives you the visceral feeling of being in that location and has the potential to make the process of searching for a house much faster,” says Matt Bell, cofounder and chief strategy officer at Matterport. Iger says his brokerage is closely watching how the technology evolves. He hopes to be able to offer clients the ability to slip on a VR headset and customize the space they’re interested in as they go, such as changing a dropped ceiling to a lofted one or a -cubicle-packed layout to a more open office plan. “I believe VR has the potential to be like the industry’s move from photos to video,” says Hood. “The quality of the experience is already great, but it’s only going to get better.”
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Don’t forget about our continuing ed... It’s Easy! Use any barcode scanner app and snap this QR code to get our class schedule. Or check it out at: LegacyTitle-LLC.com/calendar
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Colorado Springs Real Estate Journal
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Local News WCR March luncheon rocks publicity for April’s Fashion Show! By Bella McClellan, Freelance Photographer & Journalist The March Luncheon of the Pikes Peak Chapter Women’s Council of Realtor’s® was jammin’ between the main speaker Skip Howes (Howes Real Estate) on trending home designs, the pledge of allegiance led by Marrisol Irizarry (Navy Credit Union) and Debbie Mauro (Closet Factory), and celebrating March birthdays. Fun snapshots inside the Hotel Eleganté include a standing ovation for the USA Pledge of Allegiance; Skip Howes talking about what buyers really want in a home, Jenelle Meyer (Sellstate) receiving her birthday cupcake along with all the other March birthday attendees, the birthday singers, fabulous food and desserts. Everyone had a lot of fun, as demonstrated by the deafening sounds of networking with the room full of smiles and laughter. The luncheon was used to launch this year’s fashion show and stir up some publicity for one of WCR’s biggest events of the year.
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Once again headed by Gabriele Onofre (Local WCR Vice President), the 2016 Fashion Show promises to be a hit! The evening of April 14th begins at 5:00pm in the Hotel Eleganté featuring spring and summer fashions until 8:30pm. The Fashion Show is open to the public with a reasonable admission price of $40 for individuals and $70 for couples (dress businesscasual). Shop fantastic vendor tables, participate in the silent auction and ‘cash in’ with a 50/50 drawing and door prizes. Of course, what would this fun event be without tasty hors d’oeuvres and a cash bar? On a more serious note is the reason behind the fashion show. The proceeds, in part, from the evening will be donated to the Colorado Realtor® Foundation. WCR’s dedication and focus on this charity has been demonstrated time and again with each hosted fundraiser. The importance of the Foundation’s work in “[aiding] individuals by funding Colorado Nonprofits that ensure safe and affordable housing, to education on home ownership, and support disaster relief ” cannot be stressed enough as it strives to accomplish the vision of leaving a “legacy that will impact Colorado residents, now and far into the future” (www.coloradorealtors. com/crf).
Your attendance at the 2016 Fashion Show will make a difference to our local communities through the Colorado Realtor® Foundation. Please RSVP with Linda 633-7718 (Llittlefield@ppar.org) or at www. facebook.com/ppwcr. Above photos by Bella McClellan (719.367.0855)
Colorado Springs Real Estate Journal
March 28, 2016
Local News FidelityAgent 3.0 REAL ESTATE’S #1 NET SHEET & CLOSING COST APP
Southern Colorado Commercial Brokers honor 2015 Deal Makers at awards event The Southern Colorado Commercial Brokers held its inaugural Deal Maker Awards event on January 27 to honor and celebrate the 2015 commercial property sale and lease deals of the year for southern Colorado and the Pikes Peak region. Nearly 100 members of the Southern Colorado Commercial Brokers gathered for the event at The Pinery at the Hill which honored the top deals in six categories. The 2015 Deal Maker Award winners included: Legacy Award – George Jury, Weichert Commercial Affiliates. Jury was honored for his long‐time commitment and honorable representation of the commercial brokerage industry in the region, his many accomplishments over the years, as well as his consistent dedication to mentoring others within the industry.
Because the weekend is for selling.
Rookie of the Year – Caleb David, Cameron Butcher Commercial Real Estate. David was recognized as the region’s top new broker making a significant impact in 2015 with 5 sales, 10 retail leases, 27 office leases and 4 industrial leases completed in his first 18 months in the business.
When the week ends, your week begins. The weekends are “on” time for you and your business. When it’s the weekend or after hours, FidelityAgent 3.0 is there with you showing homes, on listing presentations or wherever the weekend may take you.
Office Transaction of the Year – Nicola Myers‐Murty and Randy Miller, CBRE and Michael Palmer, Quantum Commercial Group Inc. Myers‐Murty, Miller and Palmer completed the largest office lease deal in 2015 for eviCore Healthcare. The transaction involved a 10 year lease for a 96,000 square feet floor plate in the Garden of the Gods corridor.
Industrial Transaction of the Year – David Bacon and Aaron Horn, Colorado Springs Commercial/Cushman & Wakefield and Steve Hunsinger, Olive Real Estate Group. The creative nature of this deal made it the winner in this category for 2015. The purchase of Airport Square involved 67,800 square feet of office and warehouse space by community nonprofit, Silver Key.
24/7 Net Sheets Total Monthly Payment (PITI) Itemized Closing Cost Quick Estimate Rent vs Buy REFI Extra Payment Qualify CD Timelines (TRID) Sell to Net Loan Balance
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Land Transaction of the Year – Whitney Johnson, Marty Johnson and Patrick Kersher, CBRE. The Crest at Woodmen purchase involves a redevelopment project of 77 acres and 660,000 square feet of existing office / manufacturing space currently occupied by Current, Inc. Retail Transaction of the Year – John Rodgers, Peak Commercial Properties. The Lincoln Center is a unique redevelop project of a former elementary school which will be transformed into a business center that will include retail and office space for a barber, brewery, fitness center, and office uses.
Choosing the right title company DOES make a difference!
The Southern Colorado Commercial Brokers was formed in late 2014 replacing the former professional organization, the Realtor Commercial and Industrial Society. The new organization was formed to be all‐inclusive supporting both sales agents who are Realtors and those without that designation. The Southern Colorado Commercial Brokers has partnered with Xceligent as the real estate database provider for the region’s commercial property, a move that the SCCB leadership estimates could save commercial brokers in the region nearly $1 million annually. For more information about the Southern Colorado Commercial Brokers visit www.mysccb.com
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Local News
Of Course It Sells Itself.
Finally, be heard
HBA mourns loss of longtime member Steve Haynes
Thget e Housing & Building Association of Coloou know those clients who can’t quite there? Who’ve rado Springs mourns the loss of longtime memnever embraced the notion of being a “home body” and who somehow equate “settling in” with being “tied down?” ber Steve Haynes with American Overhead
Door Co. who passed away earlier this month. You Dofor themany Living, We’ll Do the Rest Steve had been a member of the HBA Estancia at Cordera is ready to win them years, and was active on the Political Action over. Estancia Is Easy Committee for a majority of that time.Living... The young couple who spends their Spacious villa-style ranch plans outdoor pool Condolences can be sent to Gary DeJong at Heated American OverStucco & stone exteriors Fitness facilities, meeting weekends in the mountains? Those empty head Door: 4336 N Nevada Avenue, Colorado Springs, CO rooms Snow removal nesters who fly off to visit the grandkids Nearby public golf courses, 80907 or via email to gary.aod@hotmail.com. Trash disposal Well, guess what?
every holiday? Your busy business exec who Landscape maintenance wonders if it might make more sense just to Interconnected, landscaped live in an extended stay hotel until he retires? community trails We’ve got an eye-catching villa-style home Over 40 acres of open space to fit each of them. Builder PartnershipsCommunity names Vantage center
shopping & entertainment
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Colorado Springs Real Estate Journal
March 28, 2016
Honest Living AND Old Fashioned Values Colorado Comes Home to Banning Lewis Ranch.
Colorado Springs’ fastest selling master-planned community with amenities that the whole family can enjoy, including more than 50 acres of parks and trails!
COME BY TODAY and FIND A NEW PLACE TO CALL HOME
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Vista Cerro A ve.
See our newest collection of homes built by the region's finest builders.
BLR Spring Realtor Rally
Thursday, April 28, 2016 • 4pm-6pm
At the Banning Lewis Ranch House 6885 Vista Del Pico Blvd., Colorado Springs, CO 80927
Big Prizes. Big Bonuses. Big Fun!
*Only Colorado licensed Realtors are eligible, and contracts must close to qualify. Valid on new homes only. Does not apply to resale homes. Bonus earnings are per quarter and will be awarded at each Quarter’s Realtor Rally. Realtors must be present at Quarterly Realtor Rally to win. Some restrictions may apply. Promotion terms are subject to change without notice.
March 28, 2016
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Sell Your Way to MVP Status with BLR's 2016 Hot Shot Realtor Incentive Program.
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nstruction co ew n n o l ea d a se Clo ch in 2016 for an R is w Le g in n an B in an additional your chance to earn ,000...$7,500 bonus of $2,500...$5
Colorado Springs Real Estate Journal www.csrej.com
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Plant your seeds now and watch your business grow.
rachelle@csrej.com 719.439.0773 | www.csrej.com 10
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Colorado Springs Real Estate Journal
March 28, 2016
and 2-story plans, Hannah Ridge is truly the place to be at any stage in life.
Hooked On Classic Realtor Bonus Program – The more you sell, the more you earn. D-49 Schools
Limited-Time
Easy access to shopping, dining & entertainment
Homebuyer Incentive of $2,500* toward Options and Upgrades (first ten contracts only!)
Local News
Less than 10 minutes to Peterson Air Force Base 20 Minutes to Shriever Air Force Base and Space Command Center 20 Minutes to Fort Carson
*Incentives available through our preferred lenders.
Learn More About news “Hooked On Classic” Realtor Bonus Program at Groundbreaking from Flying Horse www.ClassicHomes.com/Hooked Akers Dr.
Peterson Rd.
Powers Blvd.
sic Homes recently Saddletree Homes breaks ground in 719-418-6769 opened two brand Priced from the $250,000s The Village of Milan
2502 Equine Court new model homes Flying Horse is pleased to announceColorado that Springs, CO 80922 at 2186 & 2196 ClassicHomes.com/HannahRidge Saddletree Homes has a new model home under Constitution Ave. Villa Creek CirClassicHomes.com construction and is now selling in The Village of cle, located just off Flying Horse Club Milan. Homesites in Milan represent some of Dr. and Ravenswood Dr. To learn more the best lots in Colorado Springs, offering excelabout The Village of Molise, please visit lent orientation, deep lots with great frontages www.FlyingHorseColorado.com/Molise. and outstanding views. The Village of Milan initially opened with three great builders (Classic, Goetzmann, and Vantage), each offering a range of price points and a variety of plans. With the addition of Saddletree Homes as the fourth builder, there will be even a greater selection of home designs and styles in The Village of Milan. To learn more about Saddletree Homes, please visit their current model home in The Village of Verona located at 13670 Fife Court. Available homes and homesites in The Village of Milan can be found online at www.FlyingHorseColorado.com/Milan.
Lots and lots and lots of lots.
Classic Homes opens paired-patio homes in Flying Horse (pictured) Color f ul…quaint…rela x ing. There are so many ways to describe The Village of Molise – Classic Homes’ newest neighborhood village in Flying Horse. But there’s more to this one-of-a-kind, pairedpatio-home community than just a pleasant demeanor. Not only is it carefree living at its finest—with fully maintained landscaping and snow removal—the stucco-stone-and-tile roof exteriors evoke an understated, Colorado charm. The paired-patio homes in The Village of Molise offer optional finished basements and 2 and 3 car garages are available. With only 40 homesites, 11 of which are already under contract, the opportunity to live Molise won’t last long. All homes in The Village of Molise include a coveted Social Fitness Membership to the Club at Flying Horse, so making new friends in this new village goes without saying. Clas-
View new home sites at www.Cordera.com. New homes starting from the low $300s to the $800s.
There are lots of reasons to choose Cordera. For starters, our new phases are topographically exciting, with new lots, a park, and open spaces with natural vegetation. And every handcrafted home comes packed with lots of amenities and authentic Colorado flavor. New phases are opening now, with lots of lots to choose from. For a lot more reasons to call Cordera home – like quiet streets, friendly neighbors and a lively community calendar – visit Cordera.com today.
Featuring Colorado Springs finest LOCAL homebuilders – Models open daily. Campbell Homes
CreekStone Homes
Keller Homes
Saddletree Homes
Symphony Executive Homes
Vantage Homes
newRealtor in the
office?
Make sure they’re getting the
From I-25 take Briargate Pkwy. East, for less than 10 minutes – just past Powers.
josh@csrej.com March 28, 2016
EQUAL OPPORTUNITY HOUSING
Colorado Springs Real Estate Journal
Cordera Topo-Vegi_Ad_021716_7.5x12.5_PRT.indd 1
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4:22 PM
PEAK PRODUCERS 2016 KICK-OFF RECEPTION February 24, 2016 @ Cordera Community Center
Pre-Approve the Perfect Home
Mortgage Loans When we realized we needed a bigger home, we started by getting pre-approved. Our local lender helped us understand our options, so we could shop with confidence. Our new home is just what we wanted. And, the people we know and trust at Ent helped us every step of the way.
Apply online or contact one of our experienced mortgage loan officers today! (719) 574-1100 or 800-525-9623
Ent.com/Mortgage
Standard credit qualifications apply. Loans subject to final credit approval. Financing available on homes throughout Colorado. Š Ent Credit Union, 2016 Equal Housing Lender | Federally insured by NCUA | Equal Opportunity Lender
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Ent is a registered trademark of Ent Credit Union.
The Peak Producers organization is made up of 100 of the top 10% of real estate agents in the Pikes Peak area, based on number of transactions closed through the PPMLS last year.
Colorado Springs Real Estate Journal
March 28, 2016
On the Move
Lang, Doyle, Cantwell-Taylor RE/MAX Properties We are pleased to announce that Amy Lang has joined RE/MAX Properties, Inc. Amy Lang has been a licensed real estate agent since 2007, starting her career with RE/MAX in Virginia Beach, VA. She is a U.S Navy veteran, working for several years as a Military Defense Contract before her career as a real estate agent. Her husband retired in 2015 and they moved to Colorado Springs where he grew up. Amy likes the national branding and reputation of the RE/MAX brand. She learned that RE/MAX Properties, Inc. was the number one real estate brokerage in Colorado Springs and that the Ian Stone Team came highly recommended. Amy enjoys building relationships with her clients so they remain clients for life and is never too busy for referrals. She also wants to serve her fellow veterans. RE/MAX Properties, Inc. is excited to see what the future has in store for Amy Lang and warmly welcomes her to the team! Amy will be working as a member of the Ian Stone Team at our North Office. Dianna Doyle and Chloe Cantwell-Taylor of RE/MAX Properties, Inc. in Colorado Springs, CO was awarded the highest level of service achievement in the real estate industry, Quality Service Certified® Platinum. The award is in recognition of earning 100% client service satisfaction in 2015, as measured by Leading Research Corporation (LRC). Quality Service Certified (QSC) status is the only award in the real estate industry based on independently validated, measurable service results. Clients of QSC agents receive a customer satisfaction survey at the end
of each transaction. The surveys are administered and the results are compiled by LRC. Client feedback from the surveys becomes part of the agent’s credentials. An overall satisfaction rating is displayed on the consumer websites (www.QualityService.org and www. RatedAgent.com) where buyers and sellers have the ability to select a real estate professional based upon each agent’s validated record of service satisfaction. “Nothing is more important to a prospective client in selecting a professional than the service results achieved with past clients,” says Larry D. Romito, President and CEO of QSC. He adds, “Consumers have greater confidence in service reliability, results and satisfaction with a Quality Service Certified real estate professional because they know that the agent’s service record has been validated by an independent third party. 100% service satisfaction record like Chloe Cantwell-Taylor has achieved is just awesome.”
Kara Miller RE/MAX Millennium RE/MAX Millennium is thrilled to welcome Kara Miller to their real estate family. Kara has joined Jason Daniels & Associates at RE/MAX Millennium as a licensed Broker Associate. She came to Colorado from the Midwest in 1993, and loves everything Colorado has to offer and considers it her home. Prior to real estate she worked in administration, including assisting with contracts, human resources, payroll, and insurance. She loves spending time with her family and friends when she is not working. She always had a passion for real estate and does her job with integrity. As a Buyer Specialist she gets to use her experience and knowledge to help people find a home they love. RE/MAX Millennium is proud to welcome her.
Shafer, Farkas, Daniels Stucture Real Estate Group Dakota Shafer is the Owner/Broker of Structure Real Estate Group. Dakota has been in homebuilding his whole life, from working as a construction framer during his high school years to supervising the building process for hundreds of homes. He has a bachelor's degree in Construction Management with a minor in Architecture. He transitioned into home sales in 2002 and was an area manager for the largest homebuilder in the world. This experience has given him a vast knowledge of construction and design, as well as sales and marketing. Dakota has also served on numerous HOA boards, which has given him valuable experience in subdivision operations. Throughout his career, Dakota has won many customer service and sales awards and takes pride in providing excellent service to his clients. In 2009, he became a certified realtor and began working with a local custom home builder. This has allowed him to use his construction, design, estimating and sales experience to help people achieve their goal of finding or building the home that is right for them. Yong “Michelle” Farkas: Having first moved to Colorado Springs in 1976, Michelle has an exceptional level of understanding and vested interest of what the Colorado Springs area once was as a young growing city, what it offers to those that live here today, and what the future holds for those who are considering calling Colorado their home. Her formal education and training in Colorado Springs, in harmony with her many years of experience in executive management, interior design, and sales and marketing equips Michelle to
excel at every level of the real estate transaction. Known by past clients for her endless tenacity to get the job done, superior project management skills, positive attitude, and keen attention to detail, Michelle also has a stellar reputation for quick, timely responses to each client’s needs and concerns. She is always available by phone and email and is happy to meet with you at your soonest convenience. The combination of these professional qualities helps to create in an ideal buyer/seller experience that is individualized, timely and meaningful. In addition, Michelle credits her drive for excellence to her family, close friends, and various mentors throughout her career. She's been fortunate to have had worked with talented leaders and peers who have all contributed in some unique way to her elaborate skill set and strong work ethic. She is the founder of Visionary Women's Alliance, which is the area's third largest local network of business women. Her organization has empowered, engaged, and encouraged women to build strong relationships and strong business ethics. Jessica Daniels' wide variety of experience, in customer service, design and education, serves as a foundation to her passion for helping others navigate the housing industry and real estate in general. As a previous independent business owner, Jessica mastered customer relations, marketing, and served as an interior design professional. Many of you may know her for opening Real Deals on Home Décor, located in Colorado Springs. Jessica’s attention to detail and strong commitment to serving others with honesty and integrity is what makes her an excellent partner in your real estate search.
Someone new in the office? josh@csrej.com
American Society of Home Inspectors America’s Oldest, Most Trusted Organization for Professional Home Inspectors
A certified ASHi Home inSpector possesses the skills, training, knowledge and experience to evaluate the overall condition of the biggest investment your client will ever make!
To find your inspector, log onto www.ASHI-SouthernColorado.org March 28, 2016
Colorado Springs Real Estate Journal
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13
Local Expert Records were made to be Brokered
Empire Title of Woodland Park 350 N. Pine St., Woodland Park, CO 80863 P.O. Box 9004, Woodland Park, CO 80866 Phone: (719) 686-9888 - Fax: (719) 686-8208
www.empirewp.com
At the risk of sounding like a broken record (Does anybody out there even still remember record albums?), the Pikes Peak area real estate market continues to … uhm, break records. The number of home sales locally continues to impress, By Michael Podoyak Empire Title recording 870 closings through the Pikes Peak Multiple List— ing Service in February. When averaged over the previous 12 months, that number of sales is amongst the highest ever recorded in our market. The number of sales last month was over 20% greater than one year before and the strongest February in over two decades. Conversely, the number of listings in February dropped to 1,762. That was almost 30% lower than one year before as well as the lowest number of listings also in over two decades. When averaged over the previous 12 months, the median and average sales prices in February also hit new highs. Forget about breaking records, we’re talking about breaking the bank: $238,897 median sales price and $269,089 average sales price through the PPMLS. Ahhh, music to a seller’s ears!
Sales Price Previous 12 Month Median $250,000
$ 238,897
$240,000 $230,000 $220,000
$210,000 $200,000 $190,000 $180,000 $170,000 $160,000
Reach for the Beach at Empire Title
The months of inventory would surely seem to have broken a record in February, too. Properties priced under $200K were off the market in about two weeks. Six months is considered the industry benchmark in regards to inventory, and last month everything priced under $750K was averaging less than that on the market. Can I get a Woop Woop?!
Dip your toes in som’ carpeting while Barbie, Lori, Andra and Charlei tend to your thirst and hunger with som’ adult beverages and island foods, beach party music and indoor sunshine.
Months of Inventory February 2016 35.0
Special appearance by (Web)Surfer Bill “Spicoli” McAfee and som’ others from our Colorado Springs Office!
RSVP’s appreciated
and som’ Beach Attire strongly encouraged!
31.47 30.0
25.0 Number of Months
That’s som’ beach we’ve got waiting for you!
Feb-16 Oct-15 Jun-15 Feb-15 Oct-14 Jun-14 Feb-14 Oct-13 Jun-13 Feb-13 Oct-12 Jun-12 Feb-12 Oct-11 Jun-11 Feb-11 Oct-10 Jun-10 Feb-10 Oct-09 Jun-09 Feb-09 Oct-08 Jun-08 Feb-08 Oct-07 Jun-07 Feb-07 Oct-06 Jun-06 Feb-06 Oct-05 Jun-05 Feb-05 Oct-04 Jun-04 Feb-04 Oct-03 Jun-03
$150,000
20.0 15.34
15.0
10.0 5.70 5.0
0.0
.40 $140,000 $159,999
.31 $160,000 $179,999
.47
.70
$180,000 $199,999
$200,000 $249,999
2.43
1.50 $250,000 $299,999
$300,000 $399,999
3.67
$400,000 $499,999
$500,000 $749,999
$750,000 $999,999
$1,000,000 $5,000,000
February 2016
So listen to what I’m spinning: now is the time to go for broke if you’re a home seller or real estate broker. Our real estate market is surging ahead at full speed – and if it ain’t broke, don’t fix it. Just enjoy the ride.
Barbie Bunker
Lori Wollaston
Andra Cummins
And welcome the newest member to our team: Charlei Mashburn, Receptionist
“WE DON’T SUCCEED UNLESS YOU DO!”
14
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gotnews?
Colorado Springs Real Estate Journal
josh@csrej.com
March 28, 2016
Around the Corner Thursday, March 31
Thursday, April 7
WCR Progressive Italian Dinner Tour in Gold Hill Mesa 5pm @ Gold Hill Mesa, 142 S Raven Mine Dr Marisol Irizarry: 719.246.1654 marisol_irizarry@navyfederal.org
B.L.E.E.P. (Black Forest & Eastern Marketing Group) 8:30am-10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213
Tuesday, April 5 Facebook for Real Estate Agents 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300
TRID Update 9am-11am @ Empire Title Woodland Park lori@empirewp.com 719-686-9888 LinkedIn for Real Estate Agents 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300
Annual Commission Update 1pm-5pm @ Empire Title Woodland Park lori@empirewp.com 719-686-9888
2016 Mortgage Loan Originator Update 8am-4pm @ Legacy Title asalladay@legacytitle-llc.com
Reading a Settlement Statement and Creating Smooth Closings 11:30am-1pm @ North American Title (Chapel Hills) RSVP to dcruz@nat.com or 373-5229
Tuesday, April 12 Information Security and Privacy for Real Estate 9:30am-12:30pm @ DeVry University RSVP to dcruz@nat.com or 373-5229
Wednesday, April 6 Annual Commission Update 9am-1pm @ Empire Title rsvp@etcos.com 719-884-5300
Wednesday, April 13 2016 Real Estate Contract 9am-1pm @ Empire Title rsvp@etcos.com 719-884-5300
Springs Buesiness Expo 10am-4pm @ The Broadmoor Wolrd Arena
The Life of the Loan 11am-1pm @ Legacy Title asalladay@legacytitle-llc.com
Empire Title Woodland Park Som' Beach Bash 4pm-7pm @ Empire Title Woodland Park lori@empirewp.com 719-686-9888
Thursday, April 14
How to Hire the Perfect Administrative Assistant 12pm-1:30pm@RE/MAX Millennium For more information and to register: 719.999.8900, janae@jasondanielshomes.com
Farm and Land 8:30am @ The Egg and I - Chapel Hills Charlie Triplett: 719-896-1777
Women’s Council of Realtors Luncheon 11am-1pm @ Hotel Eleganté 719-633-7718 Ext. 110 llittlefield@ppar.org YPN (Young Professionals Network of REALTORS) 3pm-4pm Meeting @ PPAR (board room) 4pm-6pm Social @ Red Martini (downtown) Michele VanMetre: 633-7718 mvanmetre@ppar.org WCR Fashion Show 5pm-8:30pm @ Hotel Eleganté 719-633-7718 Ext. 110 llittlefield@ppar.org RE/MAX Millennium Grand Opening 4:30-7PM@RE/MAX Millennium in Cordera 719.999.8900, janae@jasondanielshomes.com
Friday, April 15 Independent Brokers Forum 9am-10:30am @ PPAR Michele: 719-633-7718 mvanmetre@ppar.org HBA Home Show (thru 17th) @ Mortgage Solutions Financial Expo Center Friday, April 15 3 pm - 7pm Saturday, April 16 10 am - 6pm Sunday, April 17 11 am - 4pm
Wednesday, April 20 TRID Update 2pm-4pm @ Empire Title rsvp@etcos.com 719-884-5300
Events subject to change. Due to space, please check with event/class holders early for more detailed information on cost, CE credits, sponsors and registration dates.
Thursday, April 21 1031 Exchange Essentials 1pm-3pm @ North American Title (Chapel Hills) RSVP to dcruz@nat.com or 373-5229
Wednesday, April 27 CTM eContracts - Intermediate 10am-12pm @ Empire Title rsvp@etcos.com 719-884-5300
Thursday, April 28 Banning Lewis Ranch Spring Realtor Rally 4pm-6pm @ Banning Lewis Ranch House 6855 Vista Del Pico Blvd, COS 80927
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Colorado Springs Real Estate Journal
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Imagine...
Lakes reflecting Colorado mountain skies Winding trails through sunlit meadows The rich scent of pine upon the gentle breeze
...just south of Monument.
Welcome home to ultimate Colorado living at Forest Lakes, a pristine mountainside community adjacent to Pike National Forest and conveniently located just south of Monument on the west side of I-25. Luxury homesites overlook stunning creek-fed lakes, miles of community trails, and 450 acres of preserved open space.
Homesites are now available in this brand new masterplanned community.
Custom Homes & Homesites (719) 649-0605
Spectacular by Nature. * Pricing and availability subject to change.
ForestLakesColorado.com
Classic Homes - Starting from the $370s Sales Office: (719) 481-9828 15824 Kansas Pacific Ct., Monument, CO 80132 Located South of Monument, just off Baptist Road, West of I-25