Real Estate 06/29/14

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Sunday, June 29, 2014

Experience Pinecrest at Pine Creek EW E N IC PR

OPEN SUN, 6/29, 12:00-2:00 9811 Highland Glen Place - $1,000,000 5 Bdrm + Study, 4 Bath, 3+ Car Garage

OPEN SUN, 6/29, 2:00-4:00

9970 Highland Glen Place - $1,050,000 6 Bdrm, 7 Bath, 4+ Car Garage

9830 Highland Glen Place - $1,295,000 5 Bdrm + Study, 6 Bath, 4+ Car Garage

Great Custom Home Building Lots Lot

Price

1 2 7 24 29 35 36

$205,000 $205,000 $235,000 $250,000 $180,000 $175,000 $170,000

Discover the Pinecrest Advantage Award Winning D-20 Schools Close to Shopping Near Both Memorial North and St. Francis

Pine Creek Golf Course Terrific Views Convenient Location Parks & Trails

See Every Home for Sale at PattersonGrp.com

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The Gazette · springshouses.com

Central

Southwest/Cheyenne Mountain

Open SUN., June 29 1:00pm-4:00pm 3101 Broadmoor Valley Road #C $199,000 Beautiful Villa Pourtales unit just listed! 2 bedrooms, 2 full baths, oversized 2-car garage. Great room w/fireplace, wet bar, vaulted & beamed ceilings, and lots of natural light. Many upgrades throughout. Tons of closets and storage space!

Gorgeous views off the deck. Brand new carpet.

Pristine condition and move-in ready! Beautifully manicured and maintained community.

OCC

Lori Jones

Sunday, June 29, 2014

592-9700

5507 Oro Grande $199,900 Open Saturday 10-2PM

2921 Main St. Open Sunday 12-3 1944 built home on big .21 acre private lot. 3 bed, 2 baths and 3 car garage, easy 4th bedroom in basement just needs sheetrock and carpet, hot water heat, nice upgrades and remodel, new 12x14 sunroom, big eat in kitchen, 20x19 brick paver patio, great front porch with mountain views.

Joanna Thompson

635-0388

Boulders/Broadmoor

Thompson Properties

Summer is Sensational at 5507 Oro Grande 3 Bed, 2 Bath, 2 Car, tri-level in Vista Grande Terrace. Enjoy your pergola covered back patio this summer and if it gets too hot head inside for central air to cool off. Priced at $199,900 don’t miss this great family home!

Rowena Riley 719-266-0400

OCC

EN PM OP 1-3 N SU

NGT

132 S. Favorite Street • $299,900 OPEN SAT. 10-5 & SUN. 12-5

NEW HOME IN GOLD HILL MESA

Move-in ready new home features 3BR/3BA + over 2300sf. Upgrades include 9’ ceilings, 5pc. master bath and gorgeous kitchen w/huge center island & slab granite counters. Hardwood flooring throughout main level and Fireplace w/slate surround. In a great neighborhood with access to fitness center, park and community center.

Janelle Walston 719-571-9737

Walston Group

PEY

220 Stonebeck Lane • $612,500

Open House Sunday, June 29th 1-4 PM

Main level Living. Private Mountain retreat. D12. Wall of windows for city, meadows, and mountain views. Open floor plan with great room with fireplace.Gourmet kitchen with 42 inch cabinets, granite, gas cook top, double oven. Huge master with his and hers closets and vanities. Back to open space. 4 Bed 4 Bath 3 Car 4381 Sq.Ft.

JoAnn Gadkowski 719-339-8909

13254 Crane Canyon Loop • $439,900 Open Sunday, June 29 1pm to 4pm

Upgrades Galore in this 5 Bedroom Ranch Style Home With views to Frogs Leap Park, this immaculate 5 bed/3 bath home features hardwood throughout, granite surfaces, crown molding, spacious mstr w/fireplace, oversized shower & large walk-in closet.

Central air, whole house humidifier, wet bar, outdoor water feature, 3 car garage, and much more!!

Alan Wilaby at 719-338-1100

TRI

2014 W. Cucharras Street • $219,900

If You Love OCC Area - Come See What’s Been Done!

4 Bedroom, 2 Baths & Laundry on Main Level. 1 Car Garage Room for Boat or RV. NEW: Roof, Hot Water Heater, Refinished Hardwood Flrs., Interior Paint. Lower Level partly finished with numerous possibilities. Over 2,000 S.F. offers Room to Grow!

Kathy & Jim 719-338-1911

ProPerties of Colorado

CENTRAL

OPEN HOUSE SAT JUNE 28 12pm-3pm

17910 Pinon Park Rd. • $444,900 Peyton Pines Custom Rancher

Custom ranch style home on 5 acres awaits you. Enjoy the Pikes Peak views of this family friendly 4 bed, 3 bath fully furnished home. Over 3,700 SF, with all the upgrades you expect. This property is fenced and cross fenced, and comes complete with a 4 stall barn.

Tim Brunner Cherry Creek Properties 719-439-2608

Sunday, June 29, 12:30-3:30pm

20336 Glasbury Road • $585,000 Entertainer’s Dream in Kings Deer

Open Floor plan with 10’ ceilings and plenty of windows make this 4 Bedroom, 3 Bath ranch a fun home for entertaining. The updated kitchen has slab granite countertops, maple cabinets, Stainless Steel Appliances, Double Ovens and a Gas Cooktop. Hardwoods on the main with great room as well as formal Dining Room. Large Family Room and Theater room in basement.

Jennifer Boylan 719-492-1892

Springs Homes

1365 Cresson Mine Drive • $334,900 Open Sunday, June 29 1pm to 3pm

Gold Hill Mesa Fabulous two-story stucco home offers a traditional layout with custom touches throughout. Master retreat beckons you to relax in front of the three-sided fireplace or have quiet time with the kids before they go off to bed.

Main floor offers open kitchen/family room arrangement plus formal living and dining rooms for entertaining. Unfinished basement provides opportunity for expansion. 3 bed, 3 bath, 2-car garage. 3,991 square feet.

Liz Cobb 719-492-4040

OPEN SUNDAY 1:00 - 4:00

848 E. Yampa St. $380,000

Vaulted Ceilings, Wood Floors, Hugh 2005 Addition.

Master Suite, Private Park-Like Yard. 4BR, 4BA, 1Car

Cindy O’Leary 719-322-8133

Sunday, June 29, 2014

The Gazette · springshouses.com

3SH

Outstanding Properties Great Neighborhoods 1030 Regal Way $895,000 Woodland Park Paradise Estates

Located in a private setting, this exquisite custom home is the builder’s personal residence and offers absolute architectural attention to detail and luxury features everywhere you look.

17 Sequoyah Road $1,010,000 Broadmoor

Wonderful 5 bedroom home with oneof-a-kind woodwork throughout. Main level study, lower level with English style pub, 4-car garage plus secluded/ fenced backyard. Close to schools.

3720 Camels View $1,150,000 Kissing Camels

W NE ICE PR

Custom golf course residence offers 5 bdrms + study, over 6,000 sq. ft., 2 master suites, walkout lower level, home theater and sweeping golf course, Pikes Peak / Garden of the Gods views.

5031 Lyda Lane $1,195,000 Kissing Camels

This beautiful golf course home has been totally remodeled and professionally landscaped. Features include one-level living, 4 bdrms with adjoining baths and picturesque views.

1430 N. Cascade Avenue $1,499,000 Old North End

Elegant European style home built for entertaining with extensive outdoor patios and fenced backyard. Exquisite craftsmanship is evident throughout this 4 bdrm + library, 4 bath home.

3850 Camels View $1,550,000 Kissing Camels

True Kissing Camels masterpiece with breathtaking views of Garden of the Gods and Pikes Peak. This golf course residence offers over 8,600 sq. ft., 6 bdrms, 7 baths, and 4+ car garage.

121 Marland Road South $2,195,000 Old Broadmoor

This 5 bedroom, 7 bath gated estate is situated on 3.31 acres of stunning 360 degree views of Colorado Springs and Cheyenne Mountain and just minutes from downtown.

CUSTOM HOME LOTS

OLD BROADMOOR

26 Pourtales Road $545,000 .68 acre flag lot, backs to open space, close to schools.

OLD BROADMOOR

51B Marland Road $695,000 Once in a lifetime 3.5 acre lot with panoramic views.

KISSING CAMELS

3660 Camels View $600,000 Sweeping views from this ½ acre golf course lot.

KISSING CAMELS

3680 Hill Circle $750,000 Unique uninterrupted vista on .71 acres, rare opportunity.

See Every Home for Sale @ PattersonGrp.com

KISSING CAMELS

3710 Camels View $660,000 Golf course lot on .42 acres with magnificent views.

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The Gazette · springshouses.com

Sunday, June 29, 2014

The sun sets behind the Fannie Mae headquarters in Washington. Alleged insurance kickbacks collected by banks and other mortgage servicers may have cost government-controlled mortgage giants Fannie Mae and Freddie Mac an estimated $168 million, according to an inspector general’s report. AP Photo/J. David Ake

US weighs lawsuits on alleged insurance kickbacks

BY JEFF HORWITZ ■ THE ASSOCIATED PRESS

WASHINGTON — The government is considering suing banks and other mortgage servicers over alleged insurance kickbacks that may have cost government-controlled mortgage companies Fannie Mae and Freddie Mac hundreds of millions, according to an internal federal report.

The agency responsible for guarding the mortgage giants’ finances told its inspector general’s office that it will decide over the next year whether to sue.

Fannie Mae and Freddie Mac, which have been under the agency’s conservatorship since 2008, lost an estimated $168 million from the fees in 2012 alone, according to the report.

The Federal Housing Finance Agency did not accept that figure. But the agency said in response to the report that it “does not object” to the recommendation that it consider suing.

The FHFA barred banks and other mortgage servicers from collecting payments from insurers on June 1.

But the agency does not normally discuss prospective litigation and has not previously indicated that it might consider suing over past misbehavior.

Should the agency decide to sue, the cases could reopen a controversy over how the biggest banks profited from what is known as “force-placed insurance.”

This high-cost version of property insurance protects the homes of uninsured borrowers. Banks typically buy it when a borrower falls behind on mortgage and insurance payments.

After the 2008 housing bust, forceplaced insurance ballooned into a $1 billion-a-year industry.

According to a 2012 investigation by New York’s Department of Financial Services and private lawsuits, large banks and insurers colluded to inflate the price of force-placed insurance and split the profits.

Insurers paid banks for referring business. Struggling homeowners and

mortgage investors such as Fannie Mae and Freddie Mac bore the cost in the form of higher insurance premiums, often many times the price of normal homeowners insurance.

Because insurance kickbacks are illegal, major banks and insurers allegedly contrived to mask the payments as legitimate business transactions.

The FHFA inspector general’s report did not name specific institutions.

But some banks, including JPMorgan Chase, Wells Fargo and Citigroup, set up insurance agencies to accept supposed commissions from the two dominant force-placed insurers, Assurant and QBE. But as New York and private plaintiff’s attorneys separately uncovered, these bank-owned insurance agencies were little more than empty shells.

In one example, JPMorgan’s own employees stated in court documents that a bank-owned insurance agency

did not employ a single insurance agent.

In other instances, insurers rewarded banks through generous reinsurance deals or simple, lump-sum multimilliondollar payments, the state found.

In the wake of New York’s investigation, other state probes and private suits, many of the largest mortgage servicers, including JPMorgan, Wells Fargo and Citigroup, renounced commissions in 2012 and 2013.

Those banks and other mortgage servicers that might be subject to such suits either declined to comment or did not immediately respond to telephone calls and email messages seeking comment on the threat of litigation.

Consumer advocates, who have pressed the FHFA to be more aggressive on force-placed insurance, praised the internal report and the agency’s declaration that it would consider the merits of legal action.

“The report lays out clearly what

happened, and it proposes going after the damages done to the (government sponsored) enterprises,” said Robert Hunter, director of insurance for the Consumer Federation of America.

Hunter, a former Texas insurance commissioner who has served as an expert witness in force-placed insurance cases, said that if the FHFA sues, “it will encourage private lawyers to go after the damages to regular people who paid excessive premiums.”

Over the past three years, mortgage servicers and their force-placed insurers have paid out $674 million to settle such cases, preventing a single one from reaching trial. Last September, JPMorgan and Assurant reached the biggest single settlement, a $300 million payout.

According to New York’s Department of Financial Services, JPMorgan Chase took in more than $600 million from force-placed reinsurance deals since 2006. ■

The MorTgage Professor:

2 unorthodox ways to pay off your mortgage early

BY JACk GuTTENTAG ■ THE MORTGAGE PROFESSOR

Some schemes for paying off a mortgage early, such as biweeklies and bimonthlies, are offered by lenders while others are entirely within the control of the borrower. This article is about two schemes of the second type that keep popping up in my mailbox.

Scheme 1 is all smoke and mirrors, and I doubt that any borrowers who understand exactly how it works will adopt it. Scheme 2 has much more substance, but borrowers who understand exactly how it works will probably also find a way to modify it to better match their unique needs and capacities.

SCHEME 1: Making a large payment right after closing.

In scheme 1, you take out a larger loan than you actually need, and make a large payment to principal immediately after the loan closes. This will shorten the term and reduce your interest payments.

For example, assuming you need a 4 percent 30-year loan of $280,000 to purchase your house, you borrow $300,000 and immediately after the

closing you repay $20,000, reducing the balance to $280,000. Your loan will pay off in 317 months instead of 360, and you will pay $27,214 less interest than if you had borrowed $280,000 initially.

How is that possible? The trick is that borrowing $300,000 instead of $280,000 increases your required monthly payment from $1,337 to $1,432, and the larger payment results in an early payoff. If you borrow $280,000 and make a payment of $1,432 instead of the required $1,337, you will pay off on the same schedule, and have the same reduction in interest payments, as borrowing $300,000 and immediately repaying $20,000. The difference is that when you borrow $300,000, the larger payment is obligatory and when you borrow $280,000, the extra payment is discretionary.

Most borrowers prefer having the discretion, though there may be some who prefer being locked into the higher payment. But the second group should also recognize that their settlement costs will be larger. Costs that depend on the loan amount, including points

and origination fees, title insurance and per diem interest will be calculated on $300,000 rather than $280,000.

In addition, because of the way that loan servicing systems work, it is very likely that the borrower will pay a full month’s interest on $300,000, even if $20,000 is repaid the day after closing.

In sum, this scheme is for borrowers who are willing to pay larger settlement costs for the privilege of being locked into a higher monthly payment that will pay off the balance before term.

SCHEME 2: Matching principal payments with extra payments.

In Scheme 2, which is much more ambitious than scheme 1, the borrower makes an extra payment each month equal to that month’s principal payment.

If this rule is followed religiously, the life of the mortgage is cut in half.

There is an important proviso, however. The extra payments required are larger than the principal payments that are customarily displayed as part of an amortization table, because such tables assume that there are no extra payments. For Scheme 2 to work, the

extra payment in each month must match the actual principal payment in that month, which amount has been affected by prior extra payments. This means that the required extra payment has to be recalculated every month, which can be a challenge — unless you access the extra payment spreadsheet on my website, which makes it a breeze.

The attractive features of Scheme 2 are the halving of mortgage life and the discipline it imposes on the borrower.

A weakness is its rigidity, in the sense that every borrower is shoehorned into one repayment scheme. For many borrowers, funding the required extra payment will become increasingly difficult as time goes on. The required additional payment rises every month, without regard to the borrower’s financial capacity. For example, in using this technique to pay off a 30-year 4 percent mortgage of $280,000 in 15 years, the required extra payment would rise from $403 in month 1 to $597 in month 60, to $889 in month 120, to $1,325 in month 180.

Some borrowers would manage

better with a fixed extra payment. For example, an extra monthly payment of $734.36 would also pay off the 30-year 4 percent mortgage of $280,000 in 15 years. Further, if the borrower can’t manage the payment needed to pay off in 15 years, a payoff in 20 years requires an extra payment of only $359.98.

In sum, Scheme 2 will work only for the relatively small number of borrowers who want to cut their mortgage life in half, and confidently expect the rising income that is required. Other borrowers should set their own goals, which might be less ambitious than shortening the mortgage term by half, and their scheme should be geared to their own capacities for making payments. Calculators 2a and 2c on my website were developed in order to allow each borrower to develop a handtailored extra payment plan. ■ Jack Guttentag is professor emeritus of finance at the Wharton School of the University of Pennsylvania. Comments and questions can be left at www. mtgprofessor.com.

Sunday, June 29, 2014

The Gazette · springshouses.com

5SH

US home prices rise at slowest pace in 13 months

By CHRISTOPHER S. RUGABER ■ THE ASSOCIATED PRESS

Tarema Underwood

NEWSWIRE

The Platinum Group, Realtors Inc. welcomes new agent The Platinum Group, Realtors recently announced the addition of a new broker associate to their growing team of real estate professionals serving the Pikes Peak region.

Tarema Underwood was born in Ohio and grew up in Arizona, but has lived in Colorado Springs for nine years. In her spare time she loves wake boarding, rock climbing, white water rafting and hiking with her dogs.

As part of The Platinum Group, Tarema joins a team of real estate professionals ranked as the number one Independent Real Estate Firm in Colorado Springs. “I enjoy being in real estate and couldn’t have picked a better career path,” Underwood said.

Contact Tarema Underwood for help with your buying or selling needs at 719-761-0400 or Underwood5071@gmail.com. ■

WASHINGTON — U.S. home prices rose in April from a year ago at the slowest pace in 13 months, reflecting a recent drop-off in sales.

The Standard & Poor’s/Case-Shiller 20-city home price index rose 10.8 percent in April from 12 months earlier. That’s a healthy gain, but down from 12.4 percent in the previous month and the smallest since March 2013.

Annual price gains slowed in 19 of the 20 cities. Only Boston saw price increases accelerate.

Home sales have slowed since last summer as higher mortgage rates and rising prices and have made it harder for would-be buyers to afford a home. Sales of existing homes in May were 5 percent lower than 12 months earlier.

Prices rose 1.1 percent in April compared with March, though that gain likely reflected seasonal patterns. Home prices typically rise during the spring buying season.

Some of the hottest housing markets in the past two years are starting to cool off. Las Vegas, Los Angeles, Phoenix, San Diego and San Francisco reported annual price gains above 30 percent last year, according to CaseShiller. In April, their price increases were all below 20 percent.

Home sales and construction started recovering in 2012 from the Great Recession.

But a sharp jump in mortgage rates last spring caused sales of existing homes to decline that summer. Harsh winter weather also dragged down purchases.

Recently, however, there have been signs that the housing market could be stabilizing. Mortgage rates have declined this year. The average rate on a 30-year fixed mortgage was 4.17 percent last week, according to Freddie Mac. That’s up from 3.9 percent a year ago but down from 4.5 percent at the beginning of the year.

Lower mortgage rates and the slowdown in price gains may be helping sales. Purchases of existing homes rose 4.9 percent in May to a seasonally adjusted annual rate of 4.89 million, the National Association of Realtors said Monday. That’s the biggest one-month gain in nearly three years.

A rebound in home sales, if sustained, could provide a critical boost to the economy.

Rising home sales mean more commissions for Realtors and greater sales of furniture, appliances and garden supplies.

David Blitzer, chairman of the S&P’s index committee, said several trends could push home sales higher in the coming months, including lower mortgage rates and steady

job gains.

But first-time home buyers are still having trouble qualifying for loans, Blitzer said, partly because of tight credit standards at many banks. First-time buyers made up just 27 percent of home sales in May, near record lows and below the typical level of about 40 percent.

The Case-Shiller index covers roughly half of U.S. homes. The index measures prices compared with those in January 2000 and creates a three-month moving average. The March figures are the latest available. ■ Follow Chris Rugaber on Twitter at http://Twitter.com/ChrisRugaber

Most can get mortgage, despite new lending rule

By POLyANA DA COSTA ■ BANKRATE.COM

you may have heard that new mortgage rules have made it more difficult for consumers to qualify for home loans. That’s true for certain borrowers, but not all.

The Consumer Financial Protection Bureau implemented the controversial qualified mortgage rule this year, and lenders say the impact on consumers hasn’t been as severe as feared.

A qualified mortgage, also known as a QM loan, requires the lender to verify a borrower’s ability to repay.

Sometimes it’s called the ability-torepay rule. A QM loan is presumed to have less likelihood of going into default, and for that reason, the lender gets legal protections.

As the rule was about to be implemented, many in the lending industry said the QM rule would prevent many eligible borrowers from getting mortgages.

But it’s not nearly as bad as some people thought, said Pete Grabel, mortgage loan originator at Luxury Mortgage Corp. in Stamford, Conn. We do thousands of loans, and I would say in the last six months we’ve had only a handful that was impacted.

When lenders determine ability to repay, they consider the borrower’s debt-to-income ratio. There has been

confusion over whether a loan can be a qualified mortgage if the borrower has a debt-to-income ratio, or DTI, over 43 percent.

In fact, it is possible to get a qualified mortgage with a DTI over 43 percent.

That’s because loans approved by the automated systems of Fannie Mae, Freddie Mac and the Federal Housing Administration are exempt from the 43 percent DTI limit.

For many borrowers, loan availability hasn’t changed much, said Cyndee Kendall, sales manager for the Northern California region for Bank of the West. The borrowers who are least affected are those who: • Have stable jobs with W-2s.

• Collect regular pay stubs.

• Need loans for amounts within the conforming loan limit.

It’s not the disaster that everybody said it was going to be, said John Walsh, president of Total Mortgage Services in Milford, Conn. But is it preventing some people from getting loans? yes.’

Certain types of borrowers, including self-employed, commissioned employees and those looking for jumbo loans, may have to jump through more hoops or look harder for loans since

QM was implemented, Kendall said.

There have been some people who would have possibly been approved (for a mortgage) last year who would not be approved today, she said.

The impact of the QM rule falls mostly on borrowers in the following groups: 1. Jumbo borrowers with high debt-to-income ratios. If you seek a mortgage over the conforming limit and your DTI is higher than 43 percent, you might have to look harder for a lender. you won’t be able to get a loan from a jumbo lender that will lend only within the QM criteria.

2. Recently divorced parents. If you rely on alimony or child support income to qualify for a mortgage, you have to show that you have received this income for at least a year. If you have received it for less than a year, the income cannot be considered.

3. Self-employed people and business owners. Lenders are required to dig deeper when looking at the incomes of self-employed borrowers, including a closer look at the company’s liabilities, capital losses, credit card debt and the balance sheet.

If the paperwork shows that your self-employment income has declined over time, you may have trouble getting approved for a mortgage, Kendall said. If their income is trending lower, it would be an issue that could prevent approval, even if the income is sufficient, she explained. Before, you could look at it and assess the situation more subjectively. Now we have to calculate income exactly how the regulation says.

4. Salespeople on commission and people emerging from unemployment.

Borrowers who rely on commissions to qualify for loans must be able to document their commissions for at least a year and ideally for two years.

Those who recently returned to the workforce after being unemployed for a period also may struggle to get a loan in the first six months of employment.

If you don’t qualify for a QM loan, you still might be able to get a mortgage.

It just means a consumer will have to spend more time shopping for an institution, Kendall said.

Before the rule was implemented, many lenders said they wouldn’t lend outside the QM box. Now that the rule has been implemented, a growing number of lenders offer non-QM loans.

Bank of the West, for example, offers

jumbo loans that allow borrowers to have DTIs as high as 50 percent. It also offers interest-only loans, which fall outside the QM guidelines.

Grabel, of Luxury Mortgage, said his company offers a number of programs for non-QM loans. Now that banks know what they can expect, I think we will be seeing many more non-QM loans, he adds.

The non-QM loans may have stricter requirements in areas besides debt to income. They may require high credit scores or limit loan-to-value ratios.

Interest-only loans are available, but at reduced loan to value, Grabel said.

Allen Beydoun, senior vice president for United Wholesale Mortgage, said his company recently started offering non-QM loans.

The loans are designed for those clients looking for jumbo loans, clients who are self-employed and have higher DTIs, he said. But we are talking about clients with strong reserves, a FICO score of 740-plus and loan-to-value of 75 percent.

Polyana da Costa is the senior mortgage reporter for Bankrate.com.

Visit Bankrate online at http://www. bankrate.com.

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The Gazette · springshouses.com

Sunday, June 29, 2014

Featured Houses Featured Home of the Week

New Home At Mackenzie Place Active Adult Campus

Featured Home of the Week Truly Immaculate Home at a Bargain Price!

2846 Elm View Drive | $307,690

3677 Pronghorn Meadows | $319,900

Neighborhood: Mackenzie Place Driving Directions: North on union on the Southwest corner of Fillmore and Union Agent/Company: Mark Brantley, 719-963-5427, Triton Communities Open House: Tuesday – Saturday, 10am – 6pm

Enjoy Resort Style Living at MacKenzie Place in your brand new home. The MacKenzie campus includes two restaurants, a bar, theater, salt water pool, PrimeFit Gym and Spa. Concierge Services as well as a full range of health and wellness services are also available. This 2,035 with main floor master has 2 bedrooms, 2.5 baths and an oversized 2 car attached garage. Gourmet kitchen with 36” Maple cabinets, appliance package and solid surface countertops. Vaulted and coffered ceilings highlight the home.

Featured Home of the Week This House Must Sell This Weekend!

Neighborhood: PWR Driving Directions: From Powers go East on North Carefree, North on Antelope Ridge, West (left) on Pronghorn Meadows Agent/Company: Jada Mazzillo, 719-761-4400, Keller Williams Partners Open House: June 28th - 29th, 12pm – 3pm

Seller will consider all offers! Special $4,000 incentive just for attending open house. This home must sell this weekend. 5 bed, 3 bath, 3479 sf, 3 car garage, Pikes Peak view, archways throughout. Imagine entering a home where everything is either brand new or looks like its never been used. The home had interior painted throughout in last 6 months, brand new stainless steel Bosch appliances, 9 ceiling fans throughout the home, vaulted ceilings. Its so perfect that people can move right in and change nothing!

Featured Home of the Week Classic Homes in Wolf Ranch

558 Vermillion Bluffs | $229,900

6223 Leon Young Dr. | $364,900

Neighborhood: PWR Driving Directions: From Powers, East on Stetson Hills, North on Tutt, East on Iceberg Pass, 1st right on Vermillion Bluffs, property located on the right.

Agent/Company: Melissa Gabriel, 719-502-1855 Keller Williams Partners Open House: June 28th - 29th, 12pm – 3pm

Neighborhood: Wolf Ranch Driving Directions: This home is sold from Classic’s model home. I-25, exit #149 at Woodmen. East on Woodmen to Powers. North on Powers. East onto Research. North at second roundabout onto Wolf Center Dr. East on Brave Eagle Dr. and model is on left corner.

Agent/Company: Teresa Smith / Annie Miller, Classic Homes 719-282-1650, www.classichomes.com

Seller will consider any offer. Special $3,000 incentive just for attending open house. This home 4 bed, 3 bath home features a master suite with vaulted ceilings, open foyer, vaulted living room ceiling, eat in kitchen, and mountain views from the rear wood deck.

The Vail is a 3,840 sq. ft. 2-story plan with front porch and stucco/stone exterior. 4 bedrooms, study, 2.5 baths, 3-car garage, and 10x20 patio off nook. Kitchen includes island, built-in desk, canned lighting, upgraded cabinets w/undercabinet lights, granite countertops w/full tile backsplash, stainless steel appliances and undermount sink.

Hardwood flooring in entry, living, dining, kitchen, and nook. Large master w/walk-in closet, oval soaking tub, shower w/ seat, and dual sinks.

Featured Home of the Week

Open House of the Week

Classic Homes in Meridian Ranch

PINECREST CUSTOM HOME

10447 Mt Columbia Drive | $279,900

9970 Highland Glen Place | $1,050,000

Neighborhood: Meridian Ranch Driving Directions: This home is sold from Classic’s model home. I-25, exit #149 at Woodmen. East on Woodmen, past Powers. North at light on Meridian Rd. East on Londonderry Dr. North on Rainbow Bridge Dr. East on Mt Columbia Dr. Right on Mt Lincoln Dr. and model is on the right.

Agent/Company: Carolyn Crowley, Classic Homes 719-494-1101, www.classichomes.com The Capstone is a 3,010 sq. ft. 2-story plan offering 3 bedrooms, 2.5 baths, 2-car garage, 10x18 deck off dining, and 10x10 patio off basement rec room. Hardwood in entry, hallway, powder bath, family room, kitchen, and family dining.

Expanded kitchen w/island, large pantry, canned lighting, upgraded cabinets, granite countertops, stainless steel appliances and undermount sink. Large master w/2 walk-in closets, oval soaking tub, shower w/seat, and dual sinks.

Hours: 2 – 4 p.m. Sunday, June 29 Neighborhood: Pinecrest at Pine Creek Driving Directions: Take Briargate Parkway to Chapel Hills Drive and go north, take a right on Promontory Peak Drive, right on Pine Springs Way and left on Highland Glen Place, home on left.

Agent/Company: Kevin Patterson, 719.575.1200, The Patterson Group This beautiful custom home overlooks Pine Creek Golf Course and offers wonderful views of Pikes Peak and the Front Range. Just over 2 years old with 6 bedrooms with adjoining baths, multiple living areas, formal living room and dining room, two family rooms, huge gourmet kitchen with all the luxuries plus 4+ car garage. The outdoor living areas provide something for everyone from a large backyard to private enclosed courtyard or deck with outdoor fireplace.

Shows like a model, just reduced $50,000.

More Open Houses Open House of the Week STUNNING RANCHER IN INDIGO RANCH 7757 Amberly Drive | $315,000

Hours: 1 – 4 p.m. Sunday, June 29 Neighborhood: Powers/Indigo Ranch Driving Directions: East on Stetson Hills from Peterson Rd. Left on Chanhassen Lane. Left on Amberly Drive. Home on Right Agent/Company: Bill Forsythe, 719-229-6718, RE/MAX Properties, Inc.

Pristine Home w/Incredible List of Amenities & Upgrades. Stucco/Stone Ext. / 4 Bdrms / 3 Baths / 3 Gar. Great Room w/Vaults & Skylights. Hardwood Floors on Main. Lower Level Rec Room w/Wet Bar & Coffered Ceiling w/Recessed Lighting, Custom Spa Shower, Wrap-Around Deck Overlooking Lush Yard w/Water Feature & Fire Pit, Finished & Heated Garage. And So Much More!!

Open House of the Week District 20 Schools!

12578 Broadoaks Drive | $475,000

Hours: 2:30 – 4:30 p.m. Saturday, June 28 and Sunday, June 29 Neighborhood: North Gate Driving Directions: From I25 and Interquest, East to Voyager, Right on Middle Creek, Right on Bridle Oaks, Left on Broad Oaks.

Agent/Company: Jesse Hagedorn, 570-730-9970, ERA Shields Real Estate 4 bedrooms, 3 bathrooms, 3 car garage. Home is handicap accessible with elevator. Wood floors and tile throughout... no carpet. Full finished basement. Covered Patio. Well maintained mature landscape.

Open House of the Week DRASTIC PRICE REDUCTION ON PERFECT HOME! 5536 Calamity Jane Lane | $299,900

Hours: 1 – 4 p.m. Sunday, June 29 Neighborhood: Powers Driving Directions: Dublin East to Peterson - Right to Dusty Chaps Right to Whiskey River, Left to Calamity Jane & Right to House.

Agent/Company: Susan Cuddeback, 719-229-1909, Personal Touch Real Estate

Over 3500 S.F. Finished w/walkout bsmt, wet bar, 2 laundry rooms with appliances are just a few of the amenities.

5 Beds, 4 Baths, Gourmet Kitchen w/all appliances, Huge Main Level Family Rm, formal Dining with Bay Window, A Master Suite w/5 Piece Bath & Dream closet. Upper & Lower Laundry, Deck, Patio & Hot Tub, plus A/C & fully fenced flat backyard w/views and so much more! Ready for move-in!

Open House of the Week 4 Bedrooms, 3 Bathrooms, 3,829 sq. ft.

4277 W. Woodmen Road | $465,000 Hours: 1 – 4 p.m. Sunday, June 29 Neighborhood: Northwest Driving Directions: Head north on Centennial until it becomes W. Woodmen. Home is on the right..

Agent/Company: For Sale By Owner, 719-358-9780 or 719-351-1951

A rustic 1/4 acre site w/spectacular mountain views. An innovative 2 yr old multi-level custom-designed 3800 SF ranch structure w/4 bedrooms & 3 elegant baths (1st floor master suite) w/9’ ceilings. A great rm/dining rm/library all w/10’ ceilings. A 21st century kit offering all Kitchenaid sstl appliances & double oven range. 42” all wood crown-molded cabinets. Granite counters & vanities throughout. Oak floors on entire main lvl. Custom Pella windows w/imbedded shades. Central A/C. High efficiency furnace/humidifier. Gas fireplace. Full 1,850 SF lower lvl suite. Xeriscape landscaping. Redwood deck. D20 schools.

Open House of the Week

Open House of the Week

STUNNING HOME IN BROADMOOR BLUFFS!

PINECREST CUSTOM HOME

5655 Broadmoor Bluffs Dr. | $519,000 Hours: 1 – 3 p.m. Saturday, June 28 and Sunday, June 29 Neighborhood: Southwest Driving Directions: HWY 115 south to south Academy exit. Right onto south Academy which becomes Broadmoor Bluffs. Up the hill about 2 miles to the top of the hill. House is on the east side.

Agent/Company: Colleen Meier, 719-330-1779, ERA Shields Straight from the pages of Better Homes and Gardens! Decorator touches throughout and upscale updating. Open floor plan. Fabulous upgraded family kitchen with granite, stainless – very gourmet. Extensive wood floors. Vaulted family room with 2 story fireplace. Updated baths with granite and marble. Huge Master Suite with views, fireplace & 5 pc bath. 2nd Master Suite on main. Walk out basement. 5068 SQ FT, 5 BR, 4 Baths, 3 Car

9811 Highland Glen Place | $1,000,000 Hours: 12 – 2 p.m. Sunday, June 29 Neighborhood: Pinecrest at Pine Creek Driving Directions: Take Briargate Parkway to Chapel Hills Drive and go north, take a right on Promontory Peak Drive, right on Pine Springs Way and right on Highland Glen Place, home on left.

Agent/Company: Kevin Patterson, 719.575.1200, The Patterson Group This former Symphony model home is immaculate and move in ready! It offers over 6,300 sq. ft., 5 bedrooms + executive study, 4 baths and an oversized 3 car garage as well as numerous upgrades such as crown molding, knotty alder doors and cabinets and hickory floors. Other features include a spacious great room, gourmet kitchen, luxurious main level master suite, expansive lower level with family room, home theatre, wet bar and wine room plus extensive outdoor entertaining options to include a large enclosed courtyard with fireplace and mountain views.

Sunday, June 29, 2014

The Gazette · springshouses.com

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It’s music to your career.

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You can can make make You difference. aa difference.

Help victims of Colorado wildfires.

Help victims of Colorado wildfires.

Donate at www.redcross.org.

Donate at www.redcross.org.

Palmer Lake

105

105

8SH

EASTONVILLE RD.

Monument

The Gazette · springshouses.com

Pikes Peak New Homes HIGBY RD.

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2 SHOUP RD.

• Custom-Semi Custom Homes • Energy Star 3.0 Certification • Nine Exceptional Floor plans Available • Diverse Selection of Home sites – View Lots and Golf Course Lots now available.

BURGESS RD.

KISSING CAMELS & CATHEDRAL RIDGE 3310 Mesa Road

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Air Force Academy

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WOODMEN RD.

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Colorado Springs Premier Custom Builder • Model open 12-5 Saturday & Sunday and 10-5 Weekdays • No one tops our luxury but we compete with anybody on price • Luxurious custom home builders

Custom Homes From The $400,000s

Colorado Springs

2840 Meadow Run Cr.

www.copperleafhomes.com

PLATTE AVE.

94

AIRPORT RD. ACADEMY BLVD.

CIRCLE DRIVE

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2 • Custom & Semi-Custom Homes • Any location, style, size, or price • Building custom homes for the most satisfied clientele in the Pikes Peak region – Find out why!

DRENNAN RD. ST. AS EG

SV LA

Winner 2013 People’s Choice (Parade of Homes)

Security

• Visit us in the Lodge at Cathedral Pines - 13977 Milam Road • Saturday through Wednesday 10-5 (12-5 on Sunday) • www.Alliancebuildersinc.com

FONTAINE BLVD.

719.495-4408

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Widefield MESA RIDGE PKWY

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85 87

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SQUIRREL CREEK RD.

Fountain

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Quality and Affordable Custom Homes

Fort Carson

Brand New Modern Luxury Homes In Bridle Pass

UEBLO

RD.

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The Harbor is an impressive two-story stucco home with a main level master and two bedrooms plus a loft on the

The Village at Falcon • $225,000 - $300,000 25

Winner 2013 People’s Choice (Parade of Homes) 115 • We have 1/3 to 1 acre

719.495.8800

Landscaped & Fncd Yard

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10835 Glen Canyon Drive Model Open Mon-Sat 10-5, Sun 12-4 or by appointment

www.gjgardnerfalcon.com

• We’ll build on any lot anywhere • Parade home winners since 2006

719.598.8900

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85 87

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(For Gate Access)

MARKSHEFFEL RD.

1FILLMORE ST.

NEVADA AVE.

GARDEN OF THE GODS RD.

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POWERS BLVD.

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Mike Woelke 719.623.2669

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Manitou Springs

Gated Westside Neighborhoods

MERIDIAN RD.

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BLACK FOREST RD.

ROLLER COASTER RD.

14

HODGEN RD.

Sunday, June 29, 2014

11405 Neutra Grove 6 New Homes Plans Brand New Neighborhood

lots available • Award winning designs • Homes starting at $325,000

Jim Stiltner 719.964.3526

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• Custom homes starting in the low $400s!

• We build on our lots, your lot, and we can assist you in finding yours!

Experience the best of Colorado Oudoor Living!

5746 Arrow Leaf Dr. 3 Bed, 2½ Ba Plus Study Now Available for $313,645 Open 11-4 Sat & 12-4 Sun

719.502.1739 waltherhomes.com

upper level. 1930 finished sq. ft. Over 1,000 sq. ft. unfinished basement.

Granite in the kitchen, GE Appliances including washer, dryer and refrigerator.

Also, miniblinds, fenced back yard and landscaped front yards.

HANOVER RD. • Custom homes starting in the low $400s!

• We build on our lots, your lot, and we can assist you in finding yours!

City Conveniences With Amazing Views!

16721 Timber Meadow Drive Model Open Daily Mon-Sat 10-5, Sun 11-5 www.JaydenHomesColorado.com Call Dennis at 719.499.4400

Smart, energy efficient homes built with you in mind. Excellent location and outstanding views. Visit our model this weekend to see for yourself.

Homes ready for quick move-in.

4560 Cedarmere Drive Model Home Open Every Weekend Fri & Sat 10-5, Sun 11-5 www.JaydenHomesColorado.com Call Dennis at 719.499.4400

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$439,988 - Available NOW! 3 Bedroom 2.5 Bathroom Study/Dining 3 Car Garage 2,650 SqFt. Finished 2 Story plan. Completed in a Craftsman Elevation. The main living areas are open and spacious. The Kitchen, with granite slab countertops, stainless steel appliances, walk-in pantry, and an island with additional seating provides luxurious living that

Open Sat. & Sun 1-4 • 2016 Turnbull Drive opens to the Great Room with a raised corner fireplace. The Main

Also See These Two Homes level also has a Mudroom, Powder Room, and a Study that could in Flying Horse function as a Formal Dining Room. The radius staircase with wrought 1958 Bent Creek Dr. SOLD iron railing leads you to the Upper Level. 5 piece Master Bathroom and Walk-In Closet. Unique loft that opens to a covered balcony.

1589 Yellow Tail Dr. The Upper level also enjoy 2 large bedrooms, a full bathroom, and a Kelly Price 719.650.1778 laundry room, unfinished lower level with 9’ ceilings.

More New Homes in the Pikes Peak Region 4

Wolf Ranch – Richmond American Homes From the upper $200s 5766 Paladin Place 719.282.3783 - www.RichmondAmerican.com

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Meridian Ranch – Richmond American Homes From the $200s 10258 Mt. Lincoln Drive, Peyton 719.494.0182 - www.RichmondAmerican.com

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Banning Lewis Ranch – Richmond American Homes From the mid $200s 7092 Mountain Spruce Drive 719.573-7950 - www.RichmondAmerican.com

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Lorson Ranch – Richmond American Homes From the mid $200s 6518 Alliance Loop 719.573.7950 - www.RichmondAmerican.com

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Banning Lewis Ranch – Oakwood Homes From the mid $200s 8244 Cypress Wood Drive 719.380.5082 - 1-6pm Mon, 10-6pm Tues-Sun

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Banning Lewis Ranch – Oakwood Homes From the mid $200s 7119 Snowbell Lane 719.380.5082 - 1-6pm Mon, 10-6pm Tues-Sun

Cumberland Green in Fountain – Oakwood Homes From the low $200s 9375 Castle Oaks Drive, Fountain, CO 80817 719.719.382.9799 - 1-6pm Mon, 10-6pm Tues-Sun

To Feature Your New Home Inventory on this Map Call 476-1642