The House Hunting Guide to Veterans

Selecting a real estate agent is one of the most important choices you’ll make when buying or selling a home.

The decision becomes even more important when you’re a veteran or active duty service member looking to use the VA mortgage guaranty. This nearly 70-year-old loan program backed a record 630,000 home loans in fiscal year 2013, nearly double the 2011 volume. That’s a huge increase in just two years’ time.

You typically only need a credit score of 620 to qualify for a VA loan, which is more than 100 points lower than some other mortgage products. (It’s important to check your credit before applying for any home loan, including VA loans. You can pay for a credit score or use a tool like the Credit Report Card, which gives you free credit scores and a breakdown of what’s impacting your credit.)

As lending standards have become more stringent, greater numbers of veterans are using their VA loan eligibility as the only realistic path to home ownership. The VA loan is a specialized loan program only available to those who have served our country, and, because of this, it comes with some unique requirements.

Veterans can really benefit from an agent who can educate and guide them through the entire process.

To read more take a look at "The House Hunting Guide for Veterans" written by Samantha Reeves.
http://finance.yahoo.com/news/house-hunting-guide-veterans-123053754.html 

Welcome to Fort Carson!

Welcome to Fort Carson! If you are relocating to Fort Carson, Peterson AFB, Shriever AFB or the Air Force Academy. Give me a call! I am specially trained as a Military Relocation Professional to assist with your buying or selling!

Welcome to Fort Carson, Colo.

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ARMY.MIL - U.S. Army Housing Services Office presents an introduction to Fort Carson, "the Mountain Post," which is home to Division West 1st Army. Located a...

Colorado Springs -- It's a lifestyle you're gonna love!

What makes Colorado Springs a great place to live, work, & play? See for yourself! Relocating to Colorado Springs? Interested in Relocating your family or business?  Click on the link above and contact me today!

Why Choose An Accredited Buyer’s Representative?

How often do you purchase real estate? Once, twice, three times in your lifetime? So you can hardly be expected to know all the ins and outs of such a major transaction complicated by so many details.

In most transactions, sellers are represented by a listing agent who manages these details for them and acts in their best interests. As a buyer, don’t you also want someone to provide complete and honest representation in your real estate transaction?

Real estate buyer’s agents are responsible for protecting the best interests of their clients—buyers like you—and can guide you through every step of the process. But the first step, and maybe the most important one, is finding a qualified buyer’s representative.Look no further- here I am!

As a buyer’s representative I can provide the expertise you need throughout the entire transaction, greatly improving your buying experience and potential results. Besides, retaining a buyer’s representative seldom adds any expense to your transaction.

Why Choose An Accredited Buyer’s Representative?
Not all buyer’s representatives are equal. All REALTORS® (members of the National Association of REALTORS®, or NAR) must subscribe to a strict Code of Ethics, which helps ensure that you will be treated honestly. But a REALTOR® with the ABR® designation has gone a step further, by completing Accredited Buyer’s Representative (ABR®) training, specialized education offered by the Real Estate Buyer’s Agent Council (REBAC).

In addition to knowing the dynamics of the local market, as a REALTORS® with the ABR® designation, I understand the special needs of buyers. I have additional knowledge and experience that takes me a step beyond an agent who only concentrates on listing property for sellers. An ABR® can provide you with valued assistance throughout the transaction and help you make informed decisions that will lead to a successful home purchase.

2014 Remodeling Trends

 Home remodeling may have taken a backseat during the recession, but not anymore. According to a 2013 Hanley Wood survey, remodeling sales were up 10 percent compared to 2012, and 45 percent of remodelers surveyed expected another 10 percent growth in 2014.
Home remodeling is back in again, and with the desire to improve our homesteads come a bunch of new and exciting trend...s we’ll start seeing next year.
1. Modern Kitchens
According to data compiled by Hanley Wood and Remodeling Magazine, 61 percent of remodelers surveyed expect to complete kitchen remodels in 2014, more than any other room in the house. And, those remodels are expected to follow a new trend.
Not so long ago, remodeled kitchens had a rustic feel with warm paint colors and cabinetry, and wrought iron hardware and lighting. Now, modern is in, with white or gray cabinetry, simple countertops, glossy finishes and minimalist designs. Appliances are more likely to be blended into the design or hidden away from view entirely to give the kitchen a sleeker appearance.
2. Brass Accents
Brass made a comeback at home-design and remodeling conventions this year and the trend is expected to pick up in 2014. While brass is nothing new, it has gotten a facelift. Highly polished, bright brass hardware and lighting is gone; rustic, dull and hammered brass is in. The new looks will be incorporated into kitchen and bathroom hardware as well as lighting and door hardware throughout the house.

3. Updated Bathrooms
In the Hanley Wood survey, bathrooms came in second to the kitchen with 58 percent of remodelers planning to do bathroom remodels in 2014. As far as style, vintage bathrooms with wainscoting and claw-foot tubs won’t be as popular as resort-style bathrooms that feature amenities such as large walk-in showers with multiple shower heads, heated floors or towel racks, and jetted bathtubs. For coloring and style, glass tiles will be a popular feature as well as neutral and cool colors like ash gray, light blue and off-white.

4. Vibrant Colors
While the kitchen may be getting the modern single-shade treatment next year, designers have a different idea for other rooms. Bright accent colors such as turquoise, yellow and orange that were popular in 2013 have a new twist; in 2014, they’ll be more of a focal point and even more vibrant with colors such as Green Flash, Lemon Zest, Nectarine and Rouge Red, according to Pantone, the international authority on color. Designers will start featuring vibrant accent walls, main paint colors and flooring throughout bedrooms and main living spaces.
5. Sustainable Materials
Going green is nothing new, but sustainability may get easier in 2014 remodels. According to Craig Webb, editor-in-chief of Remodeling Magazine, “Manufacturers and builders are constantly getting greener and greener in the way they source materials and put up homes.” As a result, “Energy efficiency is becoming an assumption, not an add-on.” Next year, remodels will include more renewable materials such as bamboo, energy-efficient appliances and additional designs that incorporate the local climate.
From Realtor.org

Fourth Quarter Report on Colorado Home Sales

Colorado housing markets slowed sharply in fourth quarter(partly seasonal)

Housing markets across Colorado hit the brakes hard in the fourth quarter, according to a report Thursday from the Colorado Association of Realtors.

Colder weather and the holidays typically cause activity to slow in the final three months of the year. But the rate of deceleration as 2013 ended was enough to raise concerns for 2014.

"Our biggest challenge is not having enough inventory to meet the needs of all the buyers wanting to be in the market. Many people end up disappointed," Duane Duggan, a broker with Re/Max of Boulder, said in a statement.

New listings of attached and detached homes for sale statewide rose 11.3 percent to 127,069 last year compared with 2012. But new listings rose 1.2 percent in the fourth quarter from the same period in 2012.

Statewide home resales, which were up 15.5 percent to 96,071 in 2013, rose 3.4 percent in the fourth quarter. The median price of homes sold in the state rose 5.3 percent in the fourth quarter, down from an 8.6 percent pace across all of 2013.

Housing activity was weakest in the state's mountain-resort counties, which suffered a 15.3 percent drop in listings and a 14.7 percent drop in sales in the fourth quarter. The region was the only one to see overall declines in activity in all of 2013 versus 2012, according to CAR.

The northwest region, which covers Grand Junction, Craig, Delta and Montrose, saw the only other drop in fourth-quarter home sales: a 5.8 percent decline.

Fourth-quarter home sales were rising at the fastest pace, 9.9 percent, in the northeast region, which includes Boulder, Fort Collins, Greeley, Longmont and Logan and Morgan counties.

The biggest mismatch between expectations and reality was found in the southwest region, where listings rose 15.4 percent but sales rose 4.5 percent in the fourth quarter versus a year earlier.

Metro Denver, the state's largest housing market, saw home sales rise 4.1 percent and listings rise 1.9 percent in the fourth quarter versus the same period in 2012. For all of 2013, there was a 16.8 percent gain in sales and a 12.8 percent rise in listings versus 2012.

Read more: Colorado housing markets slowed sharply in fourth quarter - The Denver Post http://www.denverpost.com/business/ci_24980698/colorado-housing-markets-slowed-sharply-fourth-quarter#ixzz2rLw9k4Pk

My goal is to be your Realtor before you need one, by always being there for you!

To reach this goal, I offer my expertise on the real estate market and my network of colleagues/Realtors throughout the United States and overseas. If you have questions or concerns, I invite you to reach out and let me know.

Donna Hatch | Broker Associate, REALTOR®, GRI®, MPR®, ABR®, e-PRO®
ERA Shields Real Estate | 5475 Tech Center Drive, Suite 300 | Colorado Springs, CO 80919O: 719.593.1000 | M: 719.684.4121 | dhatch@erashields.com | destineddwellings.com http://donnahatchpcs.blogspot.com/

Military Relocation Professional Certification!

I have just recieved a valuable certification for my clients.The MRP (Military Relocation Professional Certification) qualifies and defines my knowledge to better assist the relocating military member. When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables makes the transfer

easier, faster, and less stressful. This certification focuses on educating real estate professionals about working with current and former military service members to find the housing solutions that best suit their needs and take full advantage of military benefits and support. I look forward to helping you with your real estate needs!

Fun facts about our local Real Estate Market!

Fun Facts From 2013

    Most expensive sale of the year in El Paso County was in Broadmoor Resort for $2,775,000

    Most expensive sale of the year in Teller County was north of Woodland Park for $1,430,000

     Largest home sold this year in El Paso County was a 16,945 square foot home on Cheyenne Mountain

    Largest home sold this year in Teller County was a 7138 square foot home in Pikes Peak Resort

Quick Hits From 2013

     Number of Units Sold was up 18% (1648 units more than 2012)

    Prices were up about 6% for Average Sales Price and 7% for Median Sales Price

    Inventory Levels for the year averaged 4.1 months, compared to 4.7 in 2012

     New Home Permits were up 465 units (2855 for 2013)

     Foreclosure Starts dropped by nearly 1600 units to 1861, the lowest level in 10 years

    Under Contracts were down during the last quarter by nearly 15%

For the full report on 2013 Annual Stats contact me at dhatch@erashields.com 

Looking Forward: Colorado Springs 2014

As 2014 begins, the residential real estate market is set-up for another strong year.  A few of the real big drivers for 2014 will continue to be new home construction and the low number of foreclosures.  The effect of these will be continued price appreciation which will minimize many investor purchases.  With this said, those investors seeking long term investments will find residential real estate attractive as the market is trending up with signs it will continue for some time.

With the vast majority of homes being purchased as principle residences, the local economy will benefit;

    New Jobs—New home construction is a huge economic driver for our area. When new homes are built people are hired to build these homes and to staff the companies who provide the materials. 

    Seller Relief—Sellers who put off selling because they were upside-down may very well be able to sell now that their home has increased in value.  These sellers are now in a better financial situation.

    Buyer Options—Some buyers actually had to put-off buying in 2013 as they could not find what they wanted.  With more listings now coming on the market, these buyers will have success.

 For more information about how this is the time to buy, contact me at dhatch@erashields.com 

Market Overview 2013

In 2013 the residential real estate market in the Pikes Peak Region had an impressive year. The local market did not suffer as much through The Great Recession as many markets around the country; values locally dropped 17% vs 50%+ in other markets. This past year market values and sales units were strong, while the distressed sales market (short sales, foreclosures) all but dried-up. As has been the case for nearly 2 years, inventory levels remain low and have had a strong influence on prices increasing, even forcing some buyers to delay purchases.

Over the last quarter, the local market cooled down significantly with the likely culprits being lack of buyer confidence due to concerns over the federal financial deadlock and individuals not knowing the impacts of the new healthcare system. This lack of confidence showed itself as under contracts during the 4th   Quarter dropped by 14% (612 units).

Residential real estate in the Colorado Springs metro area is set-up to have another strong year in 2014.  Combine with the fact the market is trending up, our area is attractive with a stellar quality of life, excellent K-12 schools, and fine higher education institutions including high growth at UCCS, leading industry sectors in space/amateur sports/homeland security / mining, and world-class recreational opportunities.   The Pikes Peak region will continue to be a place where families and professionals choose to live. 

Want more information about our local Real Estate, don't hesitate to contact me: dhatch@erashields.com 

5 Proactive Steps to a Spring Home Sale

It’s hard to believe, but January is the perfect time to prepare for a spring home sale. Here in the Pike’s Peak area, home sales surge during March and April. Buyers relocating to this area in the summer, use the Spring breaks for their house hunting trips. Don’t let this critical selling time slip away and be ready to go for this optimum showing opportunity.

Take charge in January by cleaning out the clutter.  Start by clearing closets, wipe down and organize kitchen shelves, and secure a storage unit for over-sized furniture or excessive items that can create a cluttered and crowded feel to your home. Use a critical eye and if you feel crowded know that a buyer will too.

Use the winter snow days to touch up walls that need painting and tone down your personal touch to neutral colors. Know that a home that has a good paint job and gives the buyer a blank slate sells much faster to those with vibrant/brilliant colors.

Next, sparkle and shine all surface, bathrooms and kitchens. The extra elbow grease now could relay in thousands of dollars when it comes to selling. Hiring a cleaning crew and carpet cleaner, if funds permit, to give a buyer that move in ready feel they are looking for in a home. Don’t overlook windows and blinds, as most buyers head straight for the views.

Look at your entry, front porch and access from garage to home. The curb appeal in late winter and spring require a staged look. You may not have the luxury of fresh plants and spring flowers, so use the season at hand to create an inviting entry. Sweep and remove snow from porch, steps and pathways to home. Use evergreen boughs or poinsettias to add a pop of color and remove all other holiday décor.  Make sure that the garage is swept out as the salt and sand from roads is often a distraction to the buyer when they glance in the garage.

Finally, start interviewing real estate agents to see what they offer to market, assist and sell your home. While some services may be similar there are personal customer service touches and marketing techniques that vary. When it is time to sell your home, it is a business decision and using an agent that understands your needs is critical.

Submitted by Donna Hatch | Broker Associate, REALTOR®, GRI®, ABR®, e-PRO® with ERA Shields Real Estate 

Borrowers who lost homes get a second chance at homeownership

There is new hope for many Americans who lost their homes to foreclosures and short sales in recent years – and are ready to buy a home again. The U.S. Department of Housing and Urban Development (HUD) recently introduced new guidelines for Federal Housing Administration (FHA) loans, essentially making it easier for eligible borrowers who have a mortgage default on their record to purchase a home.

Given that millions of homeowners have lost their homes in the last few years alone, this is very good news for a vast number of Americans. The FHA Back to Work program allows qualifying borrowers who had a short sale, foreclosure, or a bankruptcy due to extenuating economic circumstances (reduction in income or loss of employment) to potentially obtain an FHA purchase mortgage – without needing to adhere to the three-year waiting period normally required by the FHA.

Eligibility

The Back to Work program recognizes that for many people, their economic status was changed by factors outside of their control and that they have worked toward getting back on more sound financial footing. To participate in the program and have the standard three-year waiting period reduced, borrowers must meet specific eligibility criteria and other requirements to qualify for a mortgage under the new program, including:

• Have a bankruptcy, foreclosure, deed-in-lieu, short sale or delinquencies discharged, for at least 12 months.
• Be able to document the financial hardship that lead to the mortgage default (a written job termination notice or other documentation of job loss, and W2s and/or signed tax returns to verify loss of income).
• Have had at least a 20% reduction in household income for at least 6 months prior to their loan default. (Under the HUD program, household income is defined as the income of a borrower and co-borrower that was used to obtain the mortgage that went into default.)
• Have re-established good, on-time credit for at least 12 months after the financial event, via new or re-established tradelines (credit accounts).

Homeownership counseling is a key first step

In addition to meeting eligibility criteria, borrowers will have to receive counseling from an approved Housing and Urban Developing (HUD) counseling agency at least 30 days before beginning a loan application. A minimum of one hour of counseling is required. It must specifically address what caused the financial hardship and what can be done to reduce the possibility of another mortgage default.

Submitted by Donna Hatch, Associate Broker with ERA Real Estate