Real Estate 08/17/14

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Sunday, August 17, 2014

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SPOTLIGHT: STONE CROSSING

The last great lots in Stone Crossing are almost gone

BY LESLIE MASSEY

SPRINGSHOUSES.COM

Situated in the Northgate area on the north end of Colorado Springs, picturesque landscapes with elevated views of the Air Force Academy, Pikes Peak and the Front Range are merged with a thoughtfully planned community featuring friendly neighborhood streets, stylish architecture and a grasp of true Colorado living.

From the start, the development of Stone Crossing included honoring the breathtaking terrain of rising slopes, gentle valleys, ponds, native oak and ponderosa pine.

Preserving the countryside’s natural character and making the most of this region’s stunning panoramas was an integral part of the master plan for an exceptional community.

Limited to only 244 homes, each Stone Crossing residence is attentively positioned on spacious, one-third acre, hillside lots ensuring the entire community complements the terrain and takes full advantage of the Pikes Peak region’s

magnificent backdrops.

“The sheer beauty of the area including a series of little lakes and a waterfall, make this a unique neighborhood,” said Randy Reynolds, Broker with Berkshire Hathaway HomeServices. “It’s set back in a little enclave, with no through-streets, making it a very private setting.”

Comprised of over 114-acres, Stone Crossing offers miles of neighborhood trails along with nearly 22 acres of open space to convey an abundance of possibilities for savoring the magnificent outdoors, year-round.

The popular La Foret Trail links the community to activities and exploration of the region.

Currently joining the 15-mile Santa Fe Trail on the west side of I-25, folks can travel north to Palmer Lake or south to Colorado Springs to merge with another 17-mile greenway trail through the city.

Positioned directly in the neighborhood, the 11-acre

Mary Kyer Park boasts a number of recreational opportunities for the whole family including a small pond with gazebo, playgrounds, picnic areas, basketball/inline hockey court, tennis, multi-use play fields, baseball and soccer fields, as well as a walking/ jogging loop just over a halfmile long.

Water’s Edge features a rockterraced amphitheater and plaza with an open pavilion where residents can encounter a brilliant sense of community. Situated above Water’s Edge, the pavilion presents impressive views of Pikes Peak and the Rampart Range. The amphitheater and plaza sets the perfect stage for summer picnics, winter outings and family events.

Neighborhood children can walk to school along the open space trails to award-winning District 20 elementary school, The da Vinci Academy, and the middle school and high campus is just a short distance away.

STONE CROSSING www.StoneCrossing.com Phone: 719-499-5833 Final phase new homes priced from the low $500,000s

Additionally, the Stone Crossing Home Owners Association (HOA) often hosts community events such as a community garage sale, ice cream social and annual picnic, supporting a strong sense of community and support.

Through the Stone Crossing HOA, homeowners support the care and upkeep of common areas trails, parks and Water’s Edge.

In the last few years, this section of Colorado Springs has become popular and is continuing to enjoy steady growth with a number of planned developments coming soon. “This part of town is really taking off,” said Reynolds.

“Many stores, restaurants, and businesses have recently opened so residents are close to every convenience and amenity.”

With only five remaining home sites and only two newly constructed homes available in this northern gem, home buyers seeking the exclusive lifestyle offered at Stone Crossing have limited opportunity remaining to take advantage of this unsurpassed master planned community.

“Stone Crossing offers a good variety of homes from several builders,” said Reynolds, “so there is a good mix of styles throughout the development.”

Currently Vantage Homes has two move-in ready homes located on Valley Stream Court and Woodmont Drive. “Vantage was one of the original builders in Stone Crossing when the

community broke ground many years ago. We are honored to have been selected as one of the preferred builders chosen to help close out this beautiful community,” said Phyllis Thurber of Vantage Homes.

Prospective buyers who wish to build on the remaining five home sites can also choose from an extraordinary selection of homes from Colorado Springs finest home builders including Acuff Homes, Goetzmann Homes, Randal Homes, Saddletree Homes, Sky Creek Homes, Vantage Homes and Vanguard Homes.

For more information about the outstanding lifestyle in Stone Crossing, please visit StoneCrossing.com.

Set Your Sights On Promontory Pointe Where The Height of Luxury is Affordability.

Baptist Rd. & Gleneagle Dr. | New homes from the upper $200s | www.PromontoryPointeColorado.com

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The Gazette · springshouses.com

Sunday, Aug 17, 2014

INDUSTRY VOICES:

All bubbles are not created equal

BY ELLIOT EISENBERG, PH.D.

GRAPHSANDLAUGHS, LLC

In early 2000, the S&P 500 hit 1,553 and the techheavy NASDAQ surpassed 5,000.

Two years later the S&P was Elliot Eisenberg, Ph.D. at 768 and the NASDAQ was at 800! In the process, $6 trillion in household wealth was wiped out.

We now call that period the dot-com bubble. About half a decade later, we experienced the housing market bubble.

Interestingly, the value of residential real estate destroyed during that crisis was also about $6 trillion. Yet the dotcom bubble resulted in a mild recession while the housing bust lead to the Great Recession. What was different? It turns

a major culprit was which households suffered the destruction of wealth.

To set the table, ponder this: During the housing bust, retail spending fell 8% from 2007 to 2009, one the largest drops ever. By contrast, retail spending increased by 5% between 2000 and 2002. Clearly, the losses sustained during the dot-com bust had minimal impacts on household spending decisions and thus on the overall economy. Here is why.

The decline in home prices that began in 2007 was highly concentrated among households with very limited financial resources. As a result, these now much-poorer households dramatically pulled back on spending and in the process unwittingly helped usher in the Great Recession. Remember, retail spending is about a quarter of GDP, so

a decline of 8% over two years reduces GDP by 2% — a huge amount. It is as if these poorer households were the transmission mechanism through which the Great Recession got its energy.

Exacerbating and reinforcing this downward spiral was the role of debt or leverage. Remember, by 2004 or 2005 a large percentage of first-time home buyers had low FICO scores, sketchy employment histories and limited assets. To compensate, these Alt-A and subprime buyers borrowed heavily with their now highly levered house being their major financial asset. For example, among the poorest quintile of the population, 80% of their net worth is in their house. Even among the middle quintile, home equity is still 60% of their net worth. By borrowing so much, just a small decline in house prices

could put these buyers upside down and wipe them out. Which is exactly what happened and is what turned a recession into the Great Recession.

Between 2007 and 2010 the bottom 20% of the population saw their net worth fall from about $30,000 to zero.

By contrast, the financial losses sustained during the dot-com bubble were essentially walled off and had relatively little effect on the overall economy. This is because stock ownership is concentrated among the wealthy. As the wealthy have less debt and more assets, they could essentially shrug off the much larger financial losses they sustained yet not have them alter their day-to-day spending decisions. Among the wealthiest 20% of the population, home equity represents just 25% of their net worth. Moreover,

depression-era federal laws make it hard to borrow more than 50% of the cost of stock purchases, thereby limiting the potentially negative role of leverage.

In short, the home buyers who bought in 2004 and 2005 had limited wealth and had more of it at risk than earlier home buyers. When the music stopped they were highly levered and wholly unable to protect themselves. That quickly resulted in (among other things) reduced spending, which shrank GDP and quickly cascaded into the Great Recession.

Elliot Eisenberg, Ph.D. is President of GraphsandLaughs, LLC and can be reached at Elliot@graphsandlaughs.net.

His daily 70 word economics and policy blog can be seen at www.econ70.com.

Buyers and sellers are working toward the same goal

BY STUART SCOTT

BROKER, STUART SCOTT LTD GROUP, ERA SHIELDS

From the unlikely pen of Shakespeare comes a great observation from which buyers and sellers of homes can learn a lot. He probably Stuart Scott wasn’t thinking of your dealings in real estate when he was writing, but we brokers see the application every day.

“Politics makes for strange bedfellows.” That’s a saying adapted from Shakespeare’s “The Tempest.”

The line was spoken by a man who gets shipwrecked and ends up finding shelter next to a sleeping monster. Of course, Bill was saying that sometimes those we

might think of as enemies are really our friends.

Kind of like sellers of homes, and those who want to buy them. Imagine a home on the market for six months, with nary a nibble. One day, the seller’s agent brings the seller an offer that’s less than the asking price. “Who does that &**#$% think he is!” trumpets the seller. “Tell him to take his offer and $@#$%@#.” Not a very nice way to talk about his new best friend, is it? His anger should be directed at all those people who saw his house, but didn’t bring him an offer.

Finally, the seller agrees to create a counter proposal with terms more to his liking. His knowledgeable broker dutifully presents that counter to the agent for the buyer. Along with

the delivery, he conveys the seller’s appreciation for the offer, but points out the attractive features in the property merit a higher price.

The buyer, receiving the counter proposal, has unkind words of his own.

“Tell that ^%$%$# guy to @#$%#$, I’m not paying nearly that much for that dust heap he calls a house!” Not a very nice way to talk about the home his spouse has fallen in love with, is it?

The buyer’s agent, mindful of how appreciative the seller was of the offer, suggests that perhaps another price might work. The new proposal is crafted, then presented with kind words … that their sparkling home must mean that Mrs. Seller is a great housekeeper.

These strange bedfellows, if properly represented by their agents, have come

to an agreement about which neither may be deliriously happy. However, they’ve accomplished their primary goals. The seller has his home sold, and the buyer has a place his spouse loves where the kids can put their pillows.

The contract is only the beginning, of course. There’s still a negotiation about the inspection. There are always the little favors buyers and sellers ask of each other, like letting the buyer in so the decorator can take measurements, or the seller wanting a later closing date.

If the buyers and sellers recognize that they’re all working toward the same result, and that they can’t live without each other, a contract negotiation and the closing can be delightful. Each party has to have the right to disagree … but there’s a way to disagree

amicably. The contract is very precise in its requirements of each party, and describes when and how each is allowed to terminate the agreement if the parties can’t come to terms. A reasonable favor that doesn’t harm the one party should be generously granted, because it never fails that the other party will need a favor of his own before too long.

Smart sellers, smart buyers, and their agents know that Shakespeare was right. You don’t have to agree with the parties on the other side of your negotiation, but if you can find a way to get along, you have a much better chance of sharing a place at the closing table. Remarkably, at the closing table everyone learns that there are no monsters, after all.

How much equity can you cash out of home?

BY BY MARCIE GEFFNER, BANKRATE.COM (MCT)

Home equity loans are back. The opportunity to get a cash-out refinance, home equity loan or home equity line of credit is once again alive and well.

But how much equity can — or should — you extract from your home?

Home equity options aren’t as aggressive or generous as those of yesteryear. But they’re not pocket change either, especially for longtime homeowners who have experienced rapid value appreciation in the past two years.

Years ago, homeowners could borrow up to 100 percent of their equity, says Jay Voorhees, broker and owner of JVM Lending, a mortgage company in Walnut Creek, Calif. Today, most lenders put significantly lower limits — like 80 percent to 90 percent — on home equity borrowing.

Voorhees says borrowers should “go to the limit” with a home equity line of credit, or HELOC, because they don’t have to tap the full amount of the credit line that’s available.

HOW MUCH CAN THEY BORROW? Pat and Morgan bought a house in September 2009 for $172,000. They made a 20 percent down payment and refinanced three years later. In July 2014, they apply a home equity line of credit.

Here’s how the bank calculates how much they can borrow: —Home’s current appraised value: $190,000 —Eighty percent of appraised value: $152,000 ($190,000 x 0.8) —Amount Pat and Morgan owe on mortgage: $128,633 —Eighty percent of home’s value minus amount owed: $23,367 —The bank will give them a credit line of $23,367 or less.

That might be smart from a financial perspective, but for some people, the temptation of an open credit line can be a problem, says Alan Moore, a CFP professional for Serenity Financial Consulting in Milwaukee.

“Too often these loans have made our houses a bank account and made the equity very accessible, which is not always a good thing. You have to carefully consider: What are your longterm goals? What is the money for?”

Moore says. “There is no reason to tap home equity unless you absolutely have to.”

KNOW HOW MUCH YOU NEED A conservative approach is also recommended for a cash-out refinance or home equity loan, either of which involves a fixed amount, rather than an open credit line.

Consumers who want to tap equity for home improvement projects — the most common use of this type of loan — usually settle on a specific amount, plus some wiggle room for cost overruns, says Kelly Kockos, home equity product manager for Wells Fargo in San Francisco.

“People have a budget in mind and they will manage to that budget versus saying, ‘Give me as much money as possible,’” she says. “It varies by the consumer and their personal situation, but they won’t necessarily push the outer boundaries of it.”

THESE LOANS CARRY INTEREST RATE RISK Cash-out refis, home equity loans and HELOCs aren’t risk-free.

Borrowers should try to pay off a HELOC, in particular, within a reasonable time, though they may elect to keep the line open for future use.

One reason to be conservative with a HELOC is that the interest rate can rise if market rates, such as the bank prime lending rate, move up. Rates are low today, but haven’t always been and might not always be.

“We encourage borrowers to pay it off if they can, and we warn them about the adjustable rate,” Voorhees says.

“The prime rate was in the 8 percent range for much of the 1990s and the 10 percent range in the 1980s. Right now, it’s only 3.25 percent. If it goes up 5 percent, back to historic norms, they’re going to feel the pain on that equity line.”

Try Bankrate’s calculator to help decide whether to get a home equity loan or a HELOC. REMEMBER: HOME VALUES CAN CRASH

Another reason to be careful with home equity loans is that the value of your home can fluctuate, up or down, over time. If the value drops and you’ve extracted cash, you could end up owing more than your home is worth, says Justin Lopatin, vice president of residential banking for PERL Mortgage in Chicago.

“What if you take out all this money to do a home improvement project or make an investment and five years later, property values drop 10 percent?

Now you have a higher balance and no equity,” Lopatin says. “That could be bad.”

BAD THINGS CAN HAPPEN TO GOOD PEOPLE Yet another risk is loss of your income to repay the loan, says Andy Tilp, president of Trillium Valley Financial

Planning, a fee-only financial planning firm in Sherwood, Oregon.

“Too many people used their equity as a piggy bank in the mid-2000s only to discover the bank expects to be paid back. If the borrower is incapable of paying back the funds, they put their home in jeopardy,” Tilp says. “Anyone getting a loan against their home equity needs to have a plan in place to know they can repay it, even in the event of a job loss, poor investment returns and a drop in real estate prices.”

The bottom line is that home equity extraction can give you cash for whatever you need or want, but no matter how much you can borrow, any amount is too much if you can’t repay it.

Marcie Geffner writes about mortgages for Bankrate.com. Visit Bankrate online at http://www.bankrate.com.

Sunday, Aug 17, 2014

The Gazette · springshouses.com

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Kickoff to savings, with the Kickoff Home Sales Event at Century Communities, The Estates at Rockrimmon NEWSWIRE

The first Broncos kickoff is just around the corner and Century Communities wants to help you get into your new home to watch the first games of the season. If you missed the Kickoff event make sure to get to Rockrimmon today to tour the model home and take advantage of our kickoff incentives The Century Communities Kickoff home sales event lets you pick your play by selecting up to $15,000 in closing costs; or a complete move-in package which includes a free washer, dryer, refrigerator, and window coverings, or free

backyard landscaping.* For more details, terms and conditions, visit: www.centurycommunities.com/ kickoffsprings.

The Estates at Rockrimmon offers a stunning location near Ute Valley Park, west of I-25 and south of the Air Force Academy. Rockrimmon is one of the last remaining new home communities in the Northwest area of Colorado Springs. With easy access to I-25, Academy District 20 schools, and large homesites with mountain views this community is a must see.

Come tour our available inventory of move-in ready homes. The first home

available for immediate move-in is at 1104 Crown Haven Circle, and is priced at just $449,950. This home sits on a beautiful homesite with mountain views and an inviting covered patio. The sunken great room with a built-in media center and gas fireplace is the perfect room to enjoy time with your family.

This home features a gourmet kitchen, and a formal dining room that opens to a grand foyer with a spiral staircase.

The front and backyard of this home are fully landscaped and it includes air conditioner and window coverings. Don’t miss out on this amazing opportunity, visit today and make this one yours!

The next home available for immediate move-in is at 6380 Winter Haven Drive and is $499,950. Situated on a corner lot with mountain views this home includes 4 bedrooms, 3.5 bathrooms, a 3-car garage, and 3,504 square feet of living space. Dual staircases, a formal dining room, butler’s pantry, spacious kitchen, and great room with a gas fireplace make up the main floor. The owner’s suite features his and her showers, and a large walk-in closet.

The sales center is located at 6379 Winter Haven Dr., Colorado Springs, CO 80919. Take I-25 to exit on Woodmen Road and head west. Continue onto east

Rockrimmon Boulevard. Take a right on Vindicator Drive. Take the second left and the sales center will be on the left. Sales center hours; Monday from 12 to 6 p.m., Tuesday through Saturday from 10 a.m. to 6 p.m. and Sunday from 11 a.m. to 6 p.m. For more information please visit www.centurycommunities.com, or call 719-598-0812. *Special prices available only on homes that are sold from 8/9/2014 – 8/31/2014 and that can close by 9/30/2014. Offer not to exceed $15,000 or 3% of the final loan amount. See a sales representative for details.

Shields Real Estate unveils new identity in Colorado Springs market, company positioned for future growth NEWSWIRE

ERA Shields Real Estate is proud to announce the launch of its new ERA Real Estate logo which represents the brand’s strategic revitalization over the past five years and positions ERA Shields and the ERA Real Estate brand for the future.

“ERA Real Estate is a modern and innovative brand,” said Bill Hurt, Broker/Owner of ERA Shields. “With cuttingedge technology, our company provides fast and reliable customer service, including top-notch communication. The

new logo reflects ERA Shields Real Estate’s fresh thinking, dynamic team and future growth potential.”

Charlie Young, president and CEO of ERA Franchise Systems LLC, revealed the new brand identity globally to ERA® companies, brokers and agents earlier in the year at the 2014 ERA Real Estate International Business Conference in Los Angeles, California. Capitalizing on the momentum of a recovering economy, he noted the new branding is a visual cue signaling

Over the next few months, ERA Shields will refresh its logo throughout the Colorado Springs market to communicate

$46,000 in 2013, the largest ERA/MDA fundraising event in the United States.

Join ERA Shields as they celebrate 30 years of service in 2015. With two locations, ERA Shields Real Estate specializes in residential real estate throughout the Pikes Peak and Southern Colorado regions, including the counties of El Paso, Pueblo, Teller, Douglas and Elbert. For more information on ERA Shields visit their website www.erashields.com.

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the innovative enhancements that ERA Real Estate has made to fuel growth and amplify the brand’s value to consumers.

who they are today while signaling the company’s strong momentum looking ahead.

ERA Shields is consistently recognized nationally for their high level of client satisfaction.

They were named one of only five finalists for the 2013 Gene Francis Memorial Award recognizing the top overall ERA offices in the nation. ERA Shields was also awarded the Ed Bilinkas award for their continued commitment to the Muscular Dystrophy Association (MDA), having raised over

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GAZETTE INSIDER CLUB 8/5/14 2:56 PM

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The Gazette · springshouses.com

Sunday, Aug 17, 2014

Featured Houses

More Open Houses

Featured Home of the Week

Open House of the Week

Classic Homes in The Village of Siena 13066 Cupcake Heights | $437,156 Neighborhood: Flying Horse Driving Directions: I-25 to Interquest Exit 153; East on Interquest to Flying Horse Club Dr; West on Flying Horse Club Drive to first round-about, right on Barossa Valley; Left on Sea Smoke Circle (turns into Cupcake Heights). 13066 Cupcake Heights is on the right!

Agent/Company: Classic Homes, 719-495-7297, flyinghorse@classichomes.com Located just east of The Club at Flying Horse, the “Landau” Model Home is now available for leaseback! The home is a 3,195 sq. ft. ranch-style patio home featuring 4 bedrooms, 3 baths, and 2-car garage. It has stucco & stone exterior, covered expanded deck, and is fully landscaped with sprinkler system and all landscape maintenance is included! This spacious patio home offers a finished basement with 1’ taller ceilings, fireplace, and wet bar rough-in plumbing. All new Classic Homes in Flying Horse include Social Fitness Membership in The Club at Flying Horse!

Featured Home of the Week Classic Homes in The Village of Verona 1908 Turnbull Drive | $646,096 - Available Now! Neighborhood: Flying Horse Driving Directions: I-25 to Northgate Blvd Exit #156; East on Northgate; Right on Silverton Rd; Right on Silver Rose Dr; Left on Turnbull; 1908 Turnbull Drive is on the left corner!

Agent/Company: Classic Homes, 719-495-7297, flyinghorse@classichomes.com The 4,614 Stratford Model home is a rancher located on 16,590 sq. ft. lot is fully landscaped and has stucco & stone exterior, a welcoming front porch, and an expanded 10x19 deck off the nook. It offers 5 bedrooms, 4 baths, and 3-car garage with service door. Kitchen includes large island with pendant lights, canned lighting, upgraded cabinets with undercabinet lights, upgraded granite countertops with tile backsplash, stainless steel undermount sink, and stainless steel appliances. Custom drapes and rods come with this builder model home!

And, Social Fitness Membership in The Club at Flying Horse is also included!

Featured Home of the Week Cedar Cabin

18870 Chaffee County Road 294 $374,500

Driving Directions: Take US-24 W, stay on US-24 W (76

miles) until you are asked to turn left to stay on US-24 W/ Highway 285 (13.6 miles). Then left to stay on Highway 285 (2 miles), At Lathrop turn right on county road 162 and that will lead you to St. Elmo (17 miles), cross creek turn and then turn left (one city block), turn left on county road 294 (one city block)

Agent/Company: John Thorson, 719-632-3682

Two treed acres on Chalk Creek, elevation 10050 feet. 1080 sq. ft. Includes semi-private Upper level with balcony. Four sleeping areas, 1 bath, wood burning fireplace and electric heat, completely furnished. Storage shed, well and septic. Call to schedule your visit.

More Open Houses Open House of the Week N Pr ew ic e!

TRUE ONE LEVEL LIVING! 2732 Fawn Grove Court | $385,000 Hours: 1 – 4 p.m. Sunday, August 17 Neighborhood: Southwest Driving Directions: Hwy 115 to Lake Ave, left onto Springmeadow Drive, left to Spring Grove Way, right to Fawn Grove Court.

Agent/Company: Eric Scott, 719-578-8800, Stuart Scott Ltd Group / ERA Shields Real Estate

3 Bedrooms, 3 Baths, 2 Car Garage, 2650 Sq Ft. Brick walled courtyard w/entry through six individual Pella sliding doors! Floor plan w/lots of sun & breezes*Vaulted great room w/fireplace*Formal dining room & breakfast nook opens to courtyard*Kitchen features solid surface counters & hardwood floors.

Hosted by Lois Simonton, 719-491-4911

Open House of the Week Beautiful Westside Condo “For Sale By Owner” 1098 Fontmore #C | $235,000 Hours: OPEN HOUSE every Sat. & Sun. in August and September - 12 noon to 4 p.m.

Neighborhood: Villa Sierra Driving Directions: I-25 to Fillmore; west on Fillmore; up the hill to Villa Sierra Condos on the right. Check in with the guard at the gate.

Agent/Company: For private viewing 719-638-1770 Come see this “One of a kind” Condo: 2br/2bath- 2nd floor large End Unit - carport/shed , Remodeled -Maintenance Free- Gated- 24/7 Security- front & back decks- Walk in therapeutic Tub, Laminate Floors, Gas Fireplace- Vaulted Ceilings/beams. Pool-TennisWalk to GOG-OCC- Va Clinic-Different views of Pikes Peak Mt. everyday “ Photographers dream”.

Featured Open House of the Week Beautiful NEW Country Estate Home with Quick Move-In! 12365 Black Hills Drive | $ 524,900

Neighborhood: The Estates at Meridian Ranch Agent/Company: Jene Bullock, 719-963-7983, Majestic Custom Homes Open House: August 16 & 17, 12pm-5pm Driving Directions: From Powers, take Woodmen Rd. east to Meridian Rd. Go north on Meridian to Rex Rd. and turn right, go to Mt. Gateway and turn left, then right on Black Hills Dr. Follow signs to Open House.

Will consider all reasonable offers! Enjoy main level living in this open-concept ranch plan by award winning custom builder. 4,694 sq. ft., 5 br or 4+study, 3.5 ba, oversized 1.3 ac lot, 6 car garage, and huge finished basement. Gourmet kitchen, luxurious master suite, open great room with fireplace and soaring vaulted ceilings. Amazing features to be included throughout! Take in the majestic mountain views from large covered patio. Wonderful community amenities. Home is currently under construction with estimated 6 week quick completion. Make some of your own selections for a limited time! Come see it today! *References to square footage are approximate. Price and features subject to change without notice. This ad is for informational purposes only and is not part of any contract or offer to sell.

5 Bedroom/4 Bath Stucco Ranch with Steel Barn/Workshop on 5+ acres 3880 Walker Road | $495,000 Hours: 1 – 3 p.m. Sunday, August 17 Neighborhood: TRI Driving Directions: North on I-25, east on Highway 105.

Cross Hwy 83 and it turns into Walker Road.

Agent/Company: Jennifer Boylan, 719-492-1892, Springs Homes

Open floor plan and large rooms! Large kitchen with granite countertops, large island and hearth room that walks out to back patio. Large sunroom with hot tub. Radiant heat and updated windows. Heated, Steel Barn can accommodate RV and 4 additional cars.

Open House of the Week Prepare to be amazed! Motor Home Storage & Horse Property too!

17935 Roller Coaster Rd. | $ 530,000 Hours: 1 – 4 p.m. Sunday, August 17 Neighborhood: Monument Driving Directions: I-25 to Monument Exit, go east on Hwy 105 to Roller Coaster Rd. South on Roller Coaster to rod iron gate on east side.

Agent/Company: Susan Schooler, 719-339-1731, Big Star Realty Truly a unique 5 acre treed property. Exquisitely maintained inside and out. Enter through an electric gate into a paradise of lush green grass and huge evergreens. The home offers 5 beds & 4 baths. The kitchen has been updated with new granite and tile.

Gorgeous hardwood floors in the very large living and dining rooms. Lose yourself in the expansive master with a sitting area and large walk-in closet. One of the upper bedrooms is a guest suite with its own sleeping area as well as sitting area which looks out into the massive ponderosa pines and golf-like lawn. There is an attached 2-car oversized attached garage, a 2-car oversized detached garage with workshop and another 30x60 heated garage with a concrete floor large enough for your motorhome and boat.

Open House of the Week Custom Home in High Forest Ranch 4302 High Forest Rd. | $850,000 Hours: 1 – 4 p.m. Sunday, August 17 Neighborhood: TRI Driving Directions: Highway 83 north to High Forest Rd. entrance to High Forest Ranch, right on High Forest Rd, home is on Left.

Agent/Company: Cherri Fischer, 719-661-6557, ERA Shields Real Estate Gorgeous, custom home on over 2.5 acres, located in the desired gated community of High Forest Ranch within 15 minutes of shopping, dining & medical care. Entry with cherry hardwood floor w/natural stone medallion inlay.

Great Room with 14 ft. coffered ceiling w/crown molding, fireplace w/builtins, wet bar and walkout to covered deck. Gourmet kitchen with granite counters, cherry cabinets, builtins and wood floors. Dreamy master suite with a spa like master bath waiting for you.

Open House of the Week OVERLOOKING THE PINE CREEK GOLF COURSE 9970 Highland Glen Place | $1,050,000

Hours: 1 – 3 p.m. Sunday, August 17 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 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, main level bedroom, main level music room or study with fireplace and walkout, 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, balcony off upper level or deck w/outdoor fireplace.

Open House of the Week Beautiful Hard Pine Log Home – 10+ Acres 9505 Thoroughbred Lane | $449,000

Hours: 1 – 4 p.m. Sunday, August 17, August 24 and August 31 Neighborhood: Black Forest Driving Directions: From Hwy 83, East on Hodgen to Remington, North to Morgan Rd., East to Clydesdale, North to Thoroughbred (on corner).

Agent/Company: Ti Mix, 719-290-1331, ERA Herman Group Real Estate Attractive Remodeled 4 BR 4 Bath home on 10+ acres - corner lot w/stunning Front Range/Pikes Peak views.

Maple cabinetry w/solid surface countertops, Stainless Steel Appliances, Wolf Stove, 2 pantries, Cathedral Pine Ceilings, Red Maple Flooring. Built-in Entertainment Ctr & Bookshelves. Green house. Covered Porches, large deck. 4-car-garage. Extra Building Site.

Featured Open House

New Home At Mackenzie Place Active Adult Campus 2836 Elm Meadow View | $321,055

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

Single story ranch cottage home with main floor living, 3 bedrooms, 2 baths, and attached 2-car attached garage. Inviting kitchen is finished with 36” Maple cabinets, Livingstone solid surface countertops, tile backsplash, and GE microwave, dishwasher & smooth cook top range. Vaulted ceilings and Optional gas fireplace in the Grand Room. A spacious master bedroom with coffered ceiling, walk-in closet and private master bath with double sinks, and a walk-in shower w/bench. Laundry room is conveniently located in the owner’s entry next to the garage, and the second bedroom has a nearby bath. Covered front porch and covered patio provide the perfect place to enjoy spectacular Colorado evenings.

Sunday, Aug 17, 2014

The Gazette · springshouses.com

SH 5

SpringsGarageSales.com Visit every THURSDAY AFTERNOON – SUNDAY NIGHT for an interactive map of this week’s garage sales!

Industrial Manufacturing Facility 1875 Willow Parkway, Monument, CO 80132

6,760±SF Building 1,200±SF Metal Warehouse

I-25 Access • 2.05± Acres • Lots of Office Space

by Order of US Small Business Administration

Real Estate AUCTION th

Tuesday, September 9 at 2pm

Be informed

Property Inspections

on the go!

Mon, Sept 8 (5-7pm) & Tues, Sept 9 (10am-2pm) or by appt.

Terms & conditions available online. th

th

For phone or tablet search Colorado Springs Gazette in:

Auctioneer: Marty Rogers CAI AARE

800-544-5186 SageAuctions.com

Colorado Broker: Cookie Lockhardt Lic. 109291

Call to subscribe:

Rentals East El Paso County

1-866-632-NEWS

Gazette County Springs 3 columns x 3 inches

Be informed

on the go!

For phone or tablet search Colorado Springs Gazette in:

Open Sun., August 17 12-3pm 1550 Chutney Court $183,000

What a great opportunity to own a 4 bedroom/3 bath home on the Westside for under $200,000! Wood floors, see-thru fireplace, all kitchen appliances.

Master suite w/private bath. Walkout basement. 2-car garage. Did you know that HUD will pay up to 3% of the purchase price toward your closing costs?

Want to learn more about bidding on and buying a HUD home? We’ll answer all of your questions for you! HUD homes are sold as-is. FHA Case #052-597846. Your hosts: Lori Jones/Eddie Blalock

592-9700

SU OP ND EN AY 14

Lori Jones

N/E

BRI

HUD Home in Popular Chelsea Glen!

OPEN SUNDAY AUGUST 17, 1 PM - 4 PM

4846 Preachers Hollow Trail • $359,000 4BR CORDERA RANCHER

Fully finished Cordera stucco ranch style home. Affordable luxury in one of the city’s premier neighborhoods, 4 Bedrooms, Open Design, Separate Dining Room, Cul-de-Sac location, Near Clubhouse and Schools, 5 Piece Mater Bath, Quick Possession, Easy Care Landscaping.

Guy Nanney 719-338-7305

Behind Miramont Castle

6756 Wild Indigo Dr. $291,500

Comfort, Space, Views and Value!!!

OPEN SATURDAY & SUNDAY 1-4PM

Two story home with 5 bedrooms and 4 bathrooms. Living room features gas log fireplace, 2 story ceiling and walk-out.

Master bedroom with 5 piece master bath. Over 3000 sq ft of living space includes a finished basement.

Robert Bourne 719-377-2115

236 Pilot Knob Ave • $335,000 Open Saturday & Sunday 1 - 3pm

2 Beds/3 Baths/2 Car Garage!

Stunning views sophisticated and chic bungalow in Manitou Springs. Modern amenities with historic charm. Complete remodel, this unique 1812 sq ft. home has 2 large bedrooms with walk in closets, master w/ensuite and walk out deck on upper level, beautiful. Open floor plan & hand troweled walls & ceilings, hardwood floors, fireplace. The kitchen has slab granite & all new cabinetry, top of the line appliances to include hooded gas with island. Studio/Office with rental income that has it’s own kitchenette and ¾ bath! Just to many great upgrades to mention!

Tammy Whalen 719.492.0819

Selling – Buying ...I Can Help!

TRI-LAKES

Open Sunday, Aug. 17, 2-4pm

1624 Manitou Blvd. • $239,900 Home/Duplex Backing to Open Space with Breathtaking Views!

4 Bed/2 Bath/2 Car/2201 sqft. Exquisite home/duplex with lower level apartment, 2 kitchens, 2 garages, R4 zoning for multifamily living, and a location surrounded by natural beauty.

Excellent income property with stunning peak views!

Virtual Tour: www.1624ManitouBlvd.com.

Scott Huger 719-659-2630

CENTRAL

Tina 1119 W. Kiowa Street • $199,900 • MLS# 4389789

Absolutely lovely Old Colorado City Home! Updated Kitchen features contemporary cabinets & gas cook top. Stylish glass backspash plays well against the dark cabinets.NEW Furnace and Water Heater. Refinished wood floors on main level. Updated bathrooms. Possible second kitchen in basement. Fenced yard with fun landscaping. Mature trees. Detached 2 car garage with alley access and additional parking possibilities.

Directions: Colorado Avenue to 12th Street, Turn Right on W. Kiowa.

1-719-229-2153 Cell 1-800-325-0466 Toll Free

Swonger

GRI, QSC, LHP, ABR, CDPE 719-229-2153

www.TinaSwongerRealty.com tina.swonger@wesellmore.net

19790 Highway 83

$649,000

CALL FOR PRIVATE APPOINTMENT

LOG CABIN ON 8.2 BEAUTIFUL ACRES WITH 6 CAR GARAGE /WORKSHOP OR STABLE, OUTDOOR RIDING ARENA, HISTORIC BARN & SILO,2 HORSE BARNS W RUNS! Log cabin built in 1987 has 2800 sq ft, vaulted ceiling, loft, LIVING RM, BIG FAMILY RM, SUNNY KIT, 4 BEDROOMS, 3 BATHS & 529 SQ FT OF DECKS TO ENJOY THE VIEWS! Located next to Kings Deer, Hawk Ranch, Elk Creek Ranch! Shopping, schools & conveniences are close by.

Directions: I-25 north to highway 105. Go east on 105, north on 83 one mile

Linda Mason 719-491-2800

Mason Properties, Inc.

SpringsGarageSales.com

OPEN SUNDAY 1:00 - 4:00

628 N. Hancock Ave. $239,900

Craftsman Bungalow. Updated Kitchen w/Granite, Wood Floors, Fireplace, Multi Level Deck. 2+ BR, 1½ BA, 2 Car

Cindy O’Leary 719-322-8133

Visit every THURSDAY AFTERNOON – SUNDAY NIGHT for an interactive map of this week’s garage sales!

Palmer Lake

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EASTONVILLE RD.

Monument

The Gazette · springshouses.com

Pikes Peak New Homes HIGBY RD.

9

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 VOL LM

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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

25

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

719.598.8900

24

85 87

ST.

BL UF

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MA

(For Gate Access)

MARKSHEFFEL RD.

1FILLMORE ST.

NEVADA AVE.

GARDEN OF THE GODS RD.

CIM

POWERS BLVD.

15

Mike Woelke 719.623.2669

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24

3310 Mesa Road

ER

Air Force Academy

Manitou Springs

Gated Westside Neighborhoods

MERIDIAN RD.

25

83

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BLACK FOREST RD.

ROLLER COASTER RD.

14

HODGEN RD.

Sunday, Aug 17, 2014

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

Security

Winner 2013 People’s Choice (Parade of Homes) FONTAINE BLVD.

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

6

Widefield

719.495-4408

MESA RIDGE PKWY

115

85 87

7

SQUIRREL CREEK RD.

Fountain

11

13

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Our Model the Austin- This cozy 2 story home has everything most desire! The Great Room boasts a gas fireplace and it is open to the dining and Kitchen area. Generous Kitchen space has granite slab counters, stainless steel appliances, pantry, and extended hardwood flooring. Walk Out on to your patio from the Kitchen and Master Suite. Master Suite

Fort Carson Desirable Wolf Ranch 3BR, 2½ Bath, 2 Car Garage $187,000 - $229,900

UEBLO

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• • • •

Landscaped & Fncd Yard

Vanguard’s Model Home Available for Quick Move In!

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

1585 Gold Hill Mesa Drive $359,988 Open Sat. & Sun 1-4 Kelly Price 719.650.1778

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

New Townhomes in District 20 1158989 Meadow Rose View • Award Winning Builder

11405 Neutra Grove 6 New Homes Plans Brand New Neighborhood

East on Research past Powers, • 3 Floor Plans including left on Grand Cordera Parkway Main Level Master Sales Office on your left • JMWestonhomes.com 719-571-9737

Jim Stiltner 719.964.3526

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.

boasts a plush 5 piece Master Bath and spacious walkin closet. A powder room and laundry complete the Main Level. The upper level enjoys 2 large bedrooms, a full bath, and a cozy loft which overlooks the Great Room!

A full unfinished lower level has 9’ ceilings for room to grow! Our model home Available NOW in the desirable Gold Hill Mesa Community! Don’t Miss Out!

HANOVER RD.

5

5

Quality and Affordable Custom Homes 10851 Glen Canyon Drive Model Open Mon-Sat 10-5, Sun 12-4 or by appointment

10888 Mt Evans Drive Model Open Mon-Sat 10-5, Sun 12-4 or by appointment

Winner 2013 People’s Choice (Parade of Homes)

Winner 2013 People’s Choice (Parade of Homes)

• We have 1/3 to 1 acre lots available • Award winning designs • Homes starting at $325,000

• We have 1/3 to 1 acre lots available • Award winning designs • Homes starting at $325,000

www.gjgardnerfalcon.com

719.495.8800

9

Quality and Affordable Custom Homes

www.gjgardnerfalcon.com

719.495.8800

Vanguard Homes- Kingsbridge-2 Story-Spectacular Views- Prestigious Flying Horse Community!

Our award winning Kingsbridge- This 2 sty plan is sure to please!

Completed in a European Cottage Elevation, this home boasts beautiful stucco & stone in a dynamic color scheme. Inside, the main living areas are open & spacious, complete w/the features you have come to expect in our homes. The Kitchen, w/granite slab counters, S/S appls, walk-in pantry, & an island w/add’l seating provides luxurious living. The Great Room boasts

Open Sat. & Sun 1-4 • 2016 Turnbull Drive

a raised corner FP and built-in entertainment center. The Main lvl also has a Also See These Two Homes mudroom, powder room, & a study. The radius stair case w/wrought iron railing in Flying Horse leads you to the upper level. Master Suite is accompanied w/plush 5 piece 1958 Bent Creek Dr. SOLD Master Bath with a granite slab counter and walk-in closet. The Kingsbridge 1589 Yellow Tail Dr. - $419,988 SOLD has a unique loft that opens to a covered deck which yields spectacular views, and overlooks the beautiful curved stairway! The upper level also enjoys 2 5950 Monashee - Now $386,988 SOLD spacious bedrooms, a full bath, and laundry room located conveniently to all bedrooms. Located in the prestigious Flying Horse Community!

Kelly Price 719.650.1778

More New Homes in the Pikes Peak Region 4

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Wolf Ranch – Richmond American Homes From the upper $200s 5766 Paladin Place 719.282.3783 - www.RichmondAmerican.com Banning Lewis Ranch – Richmond American Homes From the mid $200s 7092 Mountain Spruce Drive 719.573-7950 - www.RichmondAmerican.com 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

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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

Meridian Ranch – Richmond American Homes From the $200s 10258 Mt. Lincoln Drive, Peyton 719.494.0182 - www.RichmondAmerican.com Lorson Ranch – Richmond American Homes From the mid $200s 6518 Alliance Loop 719.573.7950 - www.RichmondAmerican.com

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