November 26, 2012

Vol.5 No.3 www.csrej.com November 26, 2012

Empire Title Haunted OpenHouse

Gold Hill MesaHoliday Party

CO Western TitleGrand Opening

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PRSRT STDUS POSTAGEPAIDPERMIT 745 COlO SPGS CO

National News ........... Page 2Local News ............... Page 9On the Move ............. 7Local Expert ............. Page 18Around the Corner ...... Page 19

Kevin BentBranch Manager(719) [email protected] #251284State Lic #100018895

Aric UlmerLoan O� cer(719) [email protected] #257977State Lic #100011170

Chad DennySales Manager(719) [email protected] #665068State Lic #100037389

Tom SusemihlSr. Loan O� cer(719) [email protected] #208307State Lic #100013573

Rose KellySr. Loan O� cer(719) [email protected] #10326State Lic #100020386

Debbie HavensSr. Loan O� cer(719) [email protected] NMLS #653845State Lic #100018256

Tobi MondejarLoan O� cer(719) [email protected] #241570State Lic #100008696

Honest & Ethical Service from People You Know.5 3 3 3 N o r t h U n i o n B l v d . S u i t e 1 0 0 , C o l o r a d o S p r i n g s , C O 8 0 9 1 8

HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website: www.dora.state.co.us/real-estate/index.htm Regulated by the Colorado Division of Real Estate, Corp NMLS #3113

Sales of existing homes increased in October, even with some regional im-pact from Hurricane Sandy, while home prices continued to rise due to lower lev-els of inventory supply, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include sin-gle-family homes, townhomes, condo-miniums and co-ops, rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9 percent above the 4.32 million-unit level in October 2011.

Lawrence Yun , NAR chief economist, said there was some impact from Hur-ricane Sandy. "Home sales continue to trend up and most October transactions were completed by the time the storm hit, but the growing demand with lim-ited inventory is pressuring home prices in much of the country," he said. "We expect an impact on Northeastern home sales in the coming months from a pause and delays in storm-impacted regions."

The national median existing-home price for all housing types was $178,600 in October, which is 11.1 percent above a year ago. This marks eight consecutive

monthly year-over-year increases, which last occurred from October 2005 to May 2006.

"Rising home prices have already re-sulted in a $760 billion growth in home equity during the past year," Yun said. "Given that each percentage point of price appreciation translates into an ad-ditional $190 billion in home equity, we could see close to a $1 trillion gain next year."

Distressed homes - foreclosures and short sales sold at deep discounts -

Existing-Home sales rise in October with ongoing price and equity gains

Regulatory changes are on the horizon: How they might impact the mortgage market

More cash sales, shrinking time on market show changing buyer dynamics

Being an election year, there was some uncertainty in the mortgage industry as to how the regulatory environment would look headed into 2013. It appears likely that the administration will keep housing policy very accommodative. This would include the extraordinary

measures the Federal Reserve has been exerting through its quan-titative easing to keep mortgage interest rates low. However, while taking steps to keep rates low, there are counter-

balancing efforts that could increase the costs of mortgages.

All lenders are gearing up for a wave of regulatory rulings scheduled to be re-leased at the beginning of the New Year and continuing throughout 2013. While we can’t take any action yet, the gen-eral consensus is that the costs of these

changes will ultimately be passed along to borrowers. We are also still waiting for the definition of a qualified mortgage and what legal protections will be afford-ed lenders.

In addition, the Federal Housing Ad-ministration (FHA) has experienced serious delinquencies and foreclosures exceeding 11 percent in the $1.1 trillion FHA insured portfolio, and the agency has been operating well below its mini-mum required 2 percent capital ratio. This could lead to even more FHA re-forms such as hiking premiums further and tightening underwriting guidelines. Also, Fannie Mae and Freddie Mac will continue raising their guarantee fee to lenders which is directly passed along to borrowers.

As many lenders know, Fannie, Freddie and the FHA have been very stringent in their quality control au-dits. This has motivated lenders to be extra thorough in documenting files and very reluctant to make exceptions to guidelines. Fortunately, Fannie and

Freddie are changing their policy to provide better clarity for lenders on mortgage buybacks which may help alleviate some of the stricter credit. It will be interesting to see what type of secondary market reform will ultimate-ly be presented in 2013.

We now have a general direction of where things may be headed after the election, but many details are still to be written. While we may not have control over regulatory changes presented to us, we can make sure we stay up-to-date and knowledgeable on what is required and assure that our clients are well-informed throughout the mortgage process. Own-ing a home is still an important dream for many Americans and it’s our job to help get them there by providing the right tools, resources and education through-out their home buying journey.

Mr. Paukovich oversees the direction and manage-ment of mortgage lending, including loan servicing, at Ent Federal Credit Union. He can be reached at [email protected]

By Jon PaukovichEnt—

All-cash buyers have surged since the housing downturn while the

typical amount of time it takes to sell a home is shrinking, revealing the changing dynamics of today’s home buyers and sellers.

Academic experts took a closer look at cash buyers and how time-on-market impacts home sales during the “Changing Dynamics of Recent Home Buyers and Sellers” session today at the 2012 Realtors® Conference and Expo. Funding for the research was provided by the REALTOR® University Center for Real Estate Studies.

“We’ve seen a tremendous increase in cash buyers since the housing downturn that we haven’t seen before in history,” said Lawrence Yun, chief economist of the National Association of Realtors®. Yun said a decade ago all-cash home purchases were less than 10 percent of the market but have in-creased steadily since 2008, to as much

See Cash Sales | 2

See October Gains | 4

2 www.csrej.com Colorado Springs Real Estate Journal November 26, 2012

Director of AdvertisingRachelle Nardo

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Director of PublishingJosh Olson

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Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colo-rado Springs, Colorado. CSREJ is published once a month and dis-tributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Build-ing Association and many other industry-related professionals.

CSREJ is not responsible for any opinions or facts expressed by non-staff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content.

Realtor® is a registered trade-mark. Sometimes the word Re-altor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The reg-istered trademark should be as-sumed if it is not present.

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as 30 percent of sales.Yun said the increase in more buyers

paying cash for real estate reflected tight lending conditions and an increase in in-vestor sales, which account for the bulk of cash sales. Increases in the number of international buyers, who often have financing difficulties when purchasing a home in the U.S., are also adding to the rise in cash sales. NAR research shows that 62 percent of international purchas-es were all cash; the percentage has con-tinually increased since 2007.

Recent NAR research on down pay-ment sources may offer insights into how cash buyers are receiving funds for home purchases. According the 2012 NAR Home Buyers and Sellers Profile, 40 per-cent of repeat buyers use the proceeds from the sale of their primary residence as a source of down payment, but down-sizing boomers may have enough equity left from their home sale to pay all cash for their next purchase. Yun also noted that one in 10 buyers rely on proceeds

from the sale of stocks or 401K disburse-ments for down payments; those with stable jobs and who saw investment gains in recent years may be using those cash funds to buy a home outright rather than financing the purchase.

Dr. Grant Ian Thrall, president of the American Real Estate Society, agreed that cash sales have increased dramatically in recent years. Thrall spoke at the session and conducted an in-depth market analysis to gain greater insights into cash buyers.

“Research shows a bias toward cash sales for newer and lower priced homes,” Thrall said. “Many of those sales are oc-curring within the first 60 days that the home is on the market, and more than half sold within the first 120 days.”

Thomas Springer, professor of Finance and Real Estate at Clemson University, discussed how time-on-market responds to employment changes and varies with shifting market and economic conditions. Springer analyzed market data from more than two dozen metro areas. His find-ings indicate that, at the property level, time-on-market is a function of property

characteristics, price and market factors; however, at market level, time-on-market is a function of local, national and global economic and market factors.

Springer determined that time-on-market is a possible indicator of market conditions or risk and that in a vibrant market, time-on-market is shorter, whereas distressed markets often have a longer average time-on-market.

Yun said that tightened inventory conditions are also impacting time-on-market, which has steadily decreased na-tionally since the start of the year, as are home buyers’ search processes.

“Tightened inventories in some places mean homes are selling more quickly and reducing time-on-market,” Yun said. “Our research shows that last year, home buyers saw 10 homes before buying, down from 12 the year before, and more than half of buyers reported that finding the right home was the hardest part of the home search process.”

© Copyright National Association of Realtors. Reprinted with permission.

Cash Sales from 1

November 26, 2012 Colorado Springs Real Estate Journal www.csrej.com 3

EMPIRE TITlE HAunTED OPEn HOuSEOctober 23, 2012

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accounted for 24 percent of October sales (12 percent were foreclosures and 12 percent were short sales), unchanged from September; they were 28 percent in October 2011. Foreclosures sold for an average discount of 20 percent below market value in October, while short sales were discounted 14 percent.

Total housing inventory at the end of October fell 1.4 percent to 2.14 million

existing homes available for sale, which represents a 5.4-month supply at the cur-rent sales pace, down from 5.6 months in September, and is the lowest housing supply since February of 2006 when it was 5.2 months. Listed inventory is 21.9 percent below a year ago when there was a 7.6-month supply.

According to Freddie Mac, the nation-al average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 3.38 percent in October

from 3.47 percent in September; the rate was 4.07 percent in October 2011.

NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said record low mortgage inter-est rates shouldn't be taken for granted. "Even with rising home prices, we'll con-tinue to see favorable housing affordabil-ity conditions over the coming year, but they won't last forever," he said.

"Inflationary pressures are expected to build during the next two years. As a

result, mortgage interest rates will also rise with inflation. Buyers who are cur-rently held back by tight mortgage credit standards should work to improve their credit scores so they'll be able to qualify for a mortgage while conditions are still favorable."

With stringent mortgage underwrit-ing standards, Thomas said it's very im-portant to understand credit issues and how credit scores work. "Realtors ® are a good source to learn about lenders with more reasonable terms and ways to in-crease your likelihood of obtaining safe and sound financing. Buyers can also vis-it NAR's consumer website, Houselogic.com, and search for 'credit score.'"

The median time on market was 71 days in October, little changed from 70 days in September, but down 26.0 per-cent from 96 days in October 2011. Thir-ty-two percent of homes sold in October were on the market for less than a month, while 20 percent were on the market for six months or longer.

First-time buyers accounted for 31 percent of purchases in October, com-pared with 32 percent in September and 34 percent in October 2011.

All-cash sales were at 29 percent of transactions in October, up slightly from 28 percent in September; they were 29 percent in October 2011. Investors, who account for most cash sales, purchased 20 percent of homes in October, up from 18 percent in September; they were 18 percent in October 2011.

Single-family home sales rose 1.9 per-cent to a seasonally adjusted annual rate of 4.22 million in October from 4.14 mil-lion in September, and are 9.6 percent above the 3.85 million-unit pace in Oc-tober 2011. The median existing single-family home price was $178,700 in Oc-tober, which is 10.9 percent higher than a year ago.

Existing condominium and co-op sales rose 3.6 percent to a seasonally ad-justed annual rate of 570,000 in October from 550,000 in September, and are 21.3 percent above the 470,000-unit level a year ago. The median existing condo price was $177,500 in October, up 11.7 percent from October 2011.

Regionally, existing-home sales in the Northeast fell 1.7 percent to an annual pace of 580,000 in October but are 13.7 percent above October 2011. The medi-an price in the Northeast was $232,600, which is 4.6 percent above a year ago.

Existing-home sales in the Midwest rose 1.8 percent in October to a level of 1.11 million and are 18.1 percent above a year ago. The median price in the Mid-west was $145,600, up 10.6 percent from October 2011.

In the South, existing-home sales in-creased 2.1 percent to an annual pace of 1.92 million in October and are 11.0 percent higher than October 2011. The median price in the South was $152,200, which is 8.2 percent above a year ago.

Existing-home sales in the West rose 4.4 percent to an annual level of 1.18 mil-lion in October and are 3.5 percent above a year ago. With much tighter inventory conditions, the median price in the West was $242,100, up 21.2 percent from Oc-tober 2011.

© Copyright National Association of Realtors. Reprinted with permission.

October Gains from 1

November 26, 2012 Colorado Springs Real Estate Journal www.csrej.com 5firstmortgageco.com/albuquerque

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Local News

GOlD HIll MESA HOlIDAzE PARTy November 15, 2012

Above: Patty Strauch, Kim Clark, Kat Jorstad with Red Rock Realty, Jeanine Alexander with Coldwell Banker and Liz Snow with Red Rock Realty.

Right: Stephanie Edwards and Bob Willard with Gold Hill Mesa.

Above: Tammi Stuart, Daun Rae, and Dusti Vondy with Hi Point Homes.

Left: John Sloan, Stephanie McLucas with Creekstone Homes, Laura Clark with Metro Brokers, and Vince Paul with JM Weston.

The Housing & Building Association (HBA) of Colo-rado Springs continued its 61-year tradition of electing high profile, industry leaders to represent the most influ-ential Association in the Colorado Springs region. The HBA represents more than 460 member companies and some 10,000 +/- citizens in the region; membership in the HBA is diverse and covers all areas of the home & commercial building industry, including landscaping, home products, banking, contractor trades, architects and building supplies, as well as builders and developers.

John Bissett with JM Weston Homes was installed

as the 2013 HBA President at the HBA Annual Mem-bership Reception, held Wednesday, November 14 at the Pikes Peak Regional Building Department. 2012 HBA President John A. Cassiani with RealTech Devel-

opment moved into the position of Im-mediate Past President, and Joe Loidolt with Classic Homes was installed as the HBA President Elect. Newly elected board members were: Mark Bussone, Vantage Homes; Heath Herber, Westerra Development; Josh Peterson, Saddletree

Homes; Vince Shoemaker, Bryan Con-struction; Dylan Fischer, Ferguson En-terprises; and John Radcliffe, Indepen-dent Civil Engineer.

Also honored were the volunteer “Chairs” of more than 14 different Com-mittees and Councils that carry out the

mission of the Housing & Building Association. These volunteers give hundreds of hours each year to support

The Housing & Building Association installs 2013 President

Bissett

loidolt

See HBA | 15


Local News

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Goetzmann Homes 719-488-6890 Vantage Homes 719-494-8112

Hi-Point Homes 719-287-3495 Vanguard Homes 719-487-8957

Randal Homes 719-599-32441 12315 Woodmont Drive 11,086 SOLD!9 12658 Woodru� Drive 18,266 $128,000.0017 12567 Woodru� Drive 17,574 RESERVED!20 12513 Woodru� Drive 13,000 $133,000.0022 12477 Woodru� Drive 13,000 $133,000.0023 12459 Woodru� Drive 12,350 $133,000.0024 12441 Woodru� Drive 13,000 $133,000.0025 12423 Woodru� Drive 12,277 SOLD!28 12406 Creekhurst Drive 13,646 RESERVED!35 12476 Creekhurst Drive 11,440 SOLD!43 12517 Creekhurst Drive 19,689 $176,000.0044 12497 Creekhurst Drive 18,323 $176,000.0046 12467 Creekhurst Drive 14,237 $133,000.0049 12437 Creekhurst Drive 12,441 $122,000.0050 12427 Creekhurst Drive 14,124 $128,000.0051 12407 Creekhurst Drive 12,101 UNDER CONTRACT59 1744 Valley Stream Ct 14,840 $160,000.0065 12314 Woodmont Drive 12,000 $160,000.003A - 2 12427 Oak Hollow Ct 25,618 $170,000.00

Lot Address Sq. Ft. Price

RESERVED

RESERVED

UNDERCONTRACT

The Pikes Peak Association of REAL-TORS® (PPAR) celebrated the installa-tion of the 2013 Board of Directors at a formal dinner at The Briarhurst on Fri-day, September 28, 2012.

PPAR welcomes Hank Poburka, The Platinum Group, as the Chairman of the Board and Jack Beuse, Paradigm Real Es-tate as the Chair-Elect. Joining the lead-ership team are immediate Past-Chair Tony Rose, Rose Real Estate, Jim Martin, ERA Shields Real Estate, Renate Car-rier, Equity Colorado, Todd McLain, The Platinum Group, Kevin Butcher, Cam-eron Butcher Company, Tony Clement, RE/MAX Properties, Inc., Kate Zeh-Adams, A & Z Realty, Donna Major, RE/MAX Advantage, J.P. Speers, Prudential Rocky Mountain, and Darrell Wass, RE/MAX Advantage.

Installed as Colorado Association of REALTORS® (CAR) Directors:• Linda Richie, RE/MAX

Properties, Inc.• Wynne Palermo, WYNNE

Realty, Ltd.• Bill Hurt, ERA Shields Real Estate• Lori VanDerWege, Keller Williams

Client’s Choice

Installed as a National Association of REALTORS® (NAR) Director:• Alan Lovitt, RE/MAX Advantage

Rounding the evening’s festivities, PPAR named Barb Asbury as “REAL-TOR® of the Year,” the Association’s highest honor.

Asbury, managing broker and owner of Peak Realty and Consulting, LLC, was presented the award for demonstrat-ing outstanding loyalty and dedicated service to the Association and Industry. The achievement embodies truthfulness, professionalism in business, and contri-bution to the community.

Asbury, a long-standing member of the Association since 1994, serving in various leadership positions including Chairman of the Board in 2011 and is currently serving as the State Governor of the Women’s Council of REALTORS®.

PPAR also presented the “Extra Mile Award” for excellence, service and dedi-cation to the real estate industry to the members of the PPAR Administration and Accounting teams.

PPAR was founded in 1902 and currently represents nearly 3,000 REAlTORS® and affiliates in the Pikes Peak Region. For more information about PPAR visit www.ppar.com.

Pikes Peak Association of REALTORS® installs new leadership and honors PPAR staff


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Thanksgiving is the perfect time to express our gratitude to all of our imortgage customers and real estate partners in Colorado Springs.

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imortgage 1125 Kelly Johnson Blvd., Suite 125 Colorado Springs, CO 80920. imortgage Pueblo 19 E. Abarr, Suite D, Pueblo West, CO 81007. Rates, terms, and availability of programs are subject to change without notice. Consumer is subject to specific program qualifications. This is not an advertisement to extend consumer credit as defined by section 226.2 of Regulation Z. Registered as a Colorado Mortgage Company. Regulated by the Division of Real Estate. imortgage NMLS ID 3096. All right reserved. 2012. Equal Housing Lender.

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empowering our associates to make a differenceLegacy Title Group, LLC

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“I love Legacy Title. They treat their customers with the utmost care and ef� ciency. They far surpass other companies in their service and knowledge of the industry. If I could steer all transactions to them I would.”

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Marketing Services that can help you with creative � yers, “just listed, just sold” postcards, property pro� le home books, newsletters, customized FARM Leads and Mortgage Lender leads.

On-site Title Department. The best way to serve our client’s needs is to keep our title department in house, not to join a “title production” service. We continue to set the bar with our commitment turn times. We now have our E-Commitments – with links to all of your title documents.

Seasoned Professionals who have been in the title insurance industry in Colorado Springs for many years. Our entrepreneurial spirit has led us to discover our true potential in Legacy Title.

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CO WESTERn TITlE GRAnD OPEnInGNovember 8, 2012

Lynn Henschen, Amie Voss, Kim Gross, Ty Earls, Jenny Smith, Nettie Palace and Carmen Kolson with CO Western Title Company.

Left: Gary Reinders with First American Title, Bill Hurt with ERA Shields, Rosalinda Chaney with Keller Williams Clients Choice and Shelley LaJudice with TMG Works.

Right: Holly Kendall, Adrienne Rhein, and Taryn Siegle with Keller Williams Partners.

Left: Patty Strauch with red Rock Realty, Tom Lazzaro with SellState, and Kat Jorstad with Red Rock Realty.


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YOUR OPINION MATTERS!


Local News

Coming to Meridian Ranch!New Model Coming in February, Lots Available Now!

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4% commission plus an additional$1000 bonus until the end of the year!For more information, contact us at 719.495.7664

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We Are Excited To Announce The Opening Of Another Unified Title Branch120 N. 9th Street, Suite ACanon City, CO 81212p 719.275.2435 f 719.275.3064

Join us as we celebrate the opening of our Canon City branch with light appetizers and drinks.

Ron Childs will be teaching a 2 Hour CE credit course on OEC prior to the Open House, from 1pm to 3pm.

Thursday, October 25th, 3pm to 6pm

Connie WellsSenior Escrow [email protected]

ET Production ServicesPaul AndrewsTitle Examiner719.955.7093

www.unifiedtitle.comColorado Owned and Operated Since 1992

We Keep Growing!

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The Pikes Peak Association of REALTORS® (PPAR) was presented with the “Most Dollars Raised” award in 2012 for REALTOR® Political Action Committee (RPAC) at the Colorado Association of REALORS® State Convention during the Townhall Breakfast on Monday, October 15, 2012.

The award was accepted by Jack Beuse, the 2012 Chair of the PPAR Government Affairs Committee, and Tony Rose, the 2012 PPAR Chairman of the Board.

RPAC was established in 1969 by the National Association of REALTORS® (NAR) to promote REALTOR® friendly issues and candidates at all levels of government. Real estate is one of the most heavily regulated industries in the country and it seems that every day brings a new attempt by government to regulate, tax or hamper REAL-TOR® efforts to earn a living. RPAC is the only political group in the country that is organized for REALTORS®, run by REALTORS® and exists solely to further issues important to REALTORS®.

“RPAC is our protection against poorly designed legislation that would not only hamper our ability to do business, but also be detrimental to the personal property rights of our clients,” said Beuse. “Investing in RPAC should be thought of as an insur-ance policy for our profession, business and life.”

To learn more about RPAC, visit government.ppar.com or www.realtor.org/rpac.

Pikes Peak Association of REALTORS® receives award at State Convention


Local News

Greg Fowler 719-425-7042 [email protected]

Carla Starkie 719-266-2702 [email protected]

Terry Davis 719-338-7878 [email protected]

Shirlee Dobbs 719-640-9454 [email protected]

Greg Wolff, CTIS Vice President 719-459-9653 [email protected]

Debbie Wilson, CTIS 719-252-0486 [email protected]

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Make your reservation today with Michele at 633-7718 ext 114.$20 per person and includes a steak lunch!

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V.I.P. Mortgage honors military spouses for support and sacrifice

V.I.P. Mortgage, Inc., a mid-size mortgage bank committed to restoring the reputa-tion of the mortgage industry, hosted an incredible community service project in Colo-rado Springs designed to honor spouses of military men and women deployed away from their families. Local community businesses came together and offered spa ser-vices – such as manicures, brow waxing, mini makeovers, haircuts/styling and massage – for 60 family members who have sacri-ficed so much during times of separation.

Sponsors, including Gold Hill Mesa, Unlimited Bodywork, Genesis Medspa and the Paul Mitchell School in Colorado Springs, all donated their services at no charge. Daycare with arts and crafts, plus movies and snacks, were also provided for children under five.

Colorado Springs is widely known as a military town, and one of V.I.P.’s own – Steph-anie Saunders – is a military wife, whose husband is deployed with the United States Army. “Our goal was to find a way to say thank you to the spouses of deployed service members for the many sacrifices that go unspoken in their absence, while protecting all of our freedom,” said Saunders, branch manager in V.I.P.’s Colorado Springs office. “It’s a great honor to give back to these people.”


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Local News

7680 Goddard Street, Suite 120 | Colorado Springs, CO 80920719-593-1661

2 North Cascade Avenue, Suite 125 | Colorado Springs, CO 80903719-471-1058

www.ChicagoTitleColorado.com

Kate Zeh-AdamsSales [email protected] 719-232-2365

Tami ThomasEscrow [email protected] 719-355-3741

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Joseph BurksExecutive Vice President,Southern [email protected] 719-593-1661

CHICAGO AGENT 2.0 LITESeller Net SheetsClosing CostsTitle PolicyEscrow FeesBuyers Net Sheets2010 HUDEmails in SecondsTransfer Taxes

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A MARk BuDGET SIGnS AnD BAnnERS ClIEnT APPRIECIATIOn November 14, 2012

Ty Olson with Classic Homes and Bud Smoot. Amy Lassen with Re/Max Properties, Chuck Sebald with A-Mark Budget Signs and Banners, Front- Jen Gesick with Jen Barry Productions, and Joe Clement with Re/Max Properties.

Lori and Dean Weissman with The Platinum Group Realtors are the winners of the $100 Gift Certificate. Being presented by Chuck Sebald.

the building industry. Ralph Braden, Nor'wood Limited - Chair of the Political Action Committee; Mark Bus-sone, Vantage Homes - Chair of the Code Review; Jerry Costanzo, G.L. Costanzo & Assoc. - Chair of the Sales & Marketing Council; Mike Finkbiner, Robbins Roof-ing Specialists - Co-Chair of the PAC Golf; Marc Towne & Mark Fuerstenberger, Classic Homes - Co-Chairs of the 2Man Scramble Golf; George Hess, Vantage Homes

- Co-Chair of the PAC Golf; Bobby Ingels, Nor'wood Limited - Chair of the Public Policy; Brad Kreikemeier, Bank of Colorado - Chair of the Finance Committee; Nathan Liljestrand, Custom Creations - Chair of the Re-modelers Council; Matt Manzione, Mountaintop Cus-tom Homes - Chair of the Jobsite Safety; Tim McCon-nell, Drexel, Barrell & Company - Chair of the Fountain Committee and Tri-Lakes Committee; John Radcliffe, Independent Civil Engineer - Chair of the Utilities Com-mittee; Tim Seibert, Principle of N.E.S. Inc. - Chair of

the Land Use; Jason Weber, Weber Construction - Chair of the Parade of Homes; and Dawn White, Keller Wil-liams Partners Realty - Chair of the Member Services Council.

Achievements such as these are great testimonials to the housing and building industry, both in our local community, as well as at the national level. We all ben-efit from those whose time, loyalty, and leadership are so graciously and willingly given in an effort to accomplish HBA’s mission of keeping housing affordable.

HBA from page 7


See Page 2 for details

newoffice?

— vb1. to give or delegate power or authority to2. to give ability to; enable or permit

RE/MAX Properties, Inc. has em•pow•er•ed over 54 of our agents to increase their business in the first quarter of 2012 by 50% or more over 2011’s first quarter.

We have the tools, technology, education, coaching, staff, and infrastructure to em•pow•er YOU!

We em•pow•er you to become a RE/MAX Properties, Inc. Broker Associate with flexible financial options.

Isn’t it time to em•pow•er your career? Call Joe Clement at 719-540-6421 or

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NORTH1740 Chapel Hills Dr.

Colorado Springs, CO 80920Office: (719) 598-4700

Fax: (719) 598-9308

SOUTH2630 Tenderfoot Hill St.


Fax: (719) 576-1746

DOWNTOWN216 N Tejon


Fax: (719) 576-1746

MONUMENT1761 Lake Woodmoor Dr.

Monument, CO 80132Office: (719) 487-6100

Fax: (719) 481-8112

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RE/MAX Properties, Inc. is independently owned and operated.

Making Your Job Easier with FOUR Convenient Office Locations!

Courtney Kline, Branch Manager for V.I.P. Mortgage, Inc. Colorado Springs, is pleased to announce the grand opening of the newest VIP Mort-gage, Inc. office with their newest branch office in Canon City.

Located at 120 N. 9th Street, Suite B, the V.I.P. Mortgage, Inc. office in Canon City is managed locally Vicki Helsley. “Vicki brings over 20 years of strong mortgage experience to V.I.P. Mortgage, Inc. and we are thrilled to have her leading our team and servicing our valued customers in Canon City,” said Kline said in a recent interview regarding the grand opening.

To reach Vicki regarding new home or re-finance loans with V.I.P. Mortgage, Inc. in Canon City, call 719.240.6975.

VIP Mortgage opens new office in Cañon City

Local News

The Colorado Springs Chapter of the Young Professionals Network, a Council of the Pikes Peak Association of REAL-

TORS®, was a proud participant in the Meals Program for the Ronald McDon-ald House in Colorado Springs on Thurs-

day, October 25. This is the second time that the CSYPN has provided a meal for the families staying there.

The Ronald McDonald House is a “home away from home” for families with severely ill children that are receiv-ing medical treatment nearby. The Meals Program is one of the most popular pro-grams. Volunteers can either drop off a prepared meal or cook a meal for the families on site.

“The first time we prepared a meal, everyone was getting to know each oth-er personally,” said Patrick Muldoon of Muldoon Associates, Inc. “We were not as much of a team. I think the first experi-ence was great, but this time it was like the entire family showed up to cook. I seriously felt like it was Sunday dinner at my parents. What was a bunch of REAL-TORS® doing good for the community is now a giant family who happen to sell real estate.”

The CSYPN focuses on helping young real estate professionals, ages 40 and under, to excel in their careers by giving them the tools and encouragement to become involved in their REALTOR® Association and the community. The CSYPN meets every third Thursday in the PPAR Conference Room at 3pm.

The Young Professionals Network supports the Ronald McDonald House


On the Move

Jones, Hadlock, Reyner, luarcaRE/MAX Properties

Renée M. Jones has been in Colorado Springs since 2008, when her husband, Zeke Jones took over the Unit-ed States Olympic Men's Freestyle Wrestling program. They relocated here from Philadelphia, Pa. Prior to work-ing in the Real Estate Profession Renée was a Financial Advisor with Ameriprise Financial for over 20 years. Her goals were to educate and help her clients achieve their financial dreams and implement changes when needed. The success of her prior business practice was based on her commitment to listen to her client’s needs and guide them through a plan of action that worked. She looks forward to working with new clients in achieving their Real Estate goals.

Brittany Hadlock is a military wife with 3 beauti-ful children. Brittany has been in Colorado Springs just under a year. She is a new agent and is currently in the RE/MAX Properties, Inc. intern program where she is enjoying all the mentoring, knowledge and classes to help her become a stellar agent. “I’m excited to say I am beginning my career with RE/MAX Properties, Inc. and I’m looking forward to a successful future!”

Mark Reyner grew up in a Real Estate family. Mark has been involved in various facets of the Real Estate industry for the last 12 years to include: title insurance, development and marketing. Mark graduated from Rampart High School in 1990 and from Colorado State University in 1994. Mark is a part of several community organizations such as a member of the Pikes Peak Range Riders, past Board Member of the Colorado Springs Housing & Building Association and a past Junior Rep-resentative of the El Paso Club. He is also a lifelong skier and avid golfer who fully enjoys and appreciates the beauty of Colorado.

Gerald Luarca has joined the Sherri Hopper Team at RE/MAX Properties, Inc. where he hopes to elevate his team and career to new heights. “Sky's the Limit!”

Stephanie McFarland is originally from Gilbert

AZ where she began and honed her real estate career starting in 1994. From the onset she became and is a Top Producer and Top Performer. She mbrought her considerable skills to Colorado Springs in 2009 and immediately started working for Flying Horse Realty. Here is where Stephanie and Debbie met. After work-ing together for almost 3 years, the two decided it was time to be the Broker. As a result, Flying High Realty went from inception to reality .

Originally from Cape Town, South Africa, Debbie Grundy started her real estate career in 1993 and relo-cated to Colorado Springs in 2005 with her husband and 2 wonderful children. Her daughter has just gradu-ated from the University of Boulder, where her son is now a freshman.

Danley, nelson, ThrasherMerit Company

Jennifer Danley: I have lived in Colorado with my family since 1997. I am sweet, friendly and I love the

outdoors. I love helping people and being an active part in my community. I am excited to see where this new adventure in Real Estate will take me.

Brandon Nelson: I have lived in Colorado my entire life. I am new to Real Estate and I am looking forward to helping people with their Real Estate needs.

Pat Thrasher: I came to the Real Estate industry in 2005 with a lot of customer service experience. As an educator and minister it was my primary goal to bring the best help possible to assist people in reaching their goals. That is still my goal as applied to buyer and sell-ers in residential Real Estate. I began training as a certi-fied distressed property expert (CDPE) in 2008 when it became clear that our real estate market had new chal-lenges with distressed properties flooding the market. I have always lived in a city where military and their fami-lies were posted. I love to bring service with excellence to the members and families of our military that serves our nation.

Hale kendallColdwell Banker Residential Brokerage

Hale Kendall, an experienced real estate professional, has joined Coldwell Banker Residential Brokerage in Colorado Springs as a broker associate. Kendall earned his real estate license in 2002.

“We are pleased to welcome Hale to our top produc-ing team of real estate professionals,” said Zane Whit-

field, managing broker. “His background in real estate investing, coupled his entrepreneurial business achieve-ments, will serve him well as Hale advances his career with Colorado’s leading real estate company.”

Kendall has created and owned a variety of business-es throughout his distinguished career, including Perfect Angels Salon and Spa, which remains a thriving busi-ness on the west side of Colorado Springs. He earned his bachelor’s degree from the University of Colorado, Colorado Springs, and his master’s degree from the Uni-versity of Colorado, Denver. Kendall enjoys history, politics, staying fit, traveling, sports, and movies.

Bill Hays Keller Williams Partners

Bill Hays, a Colorado Springs REALTOR(R), has joined Keller Williams Partners. Prior to Colorado Springs, Bill was a Dallas area resident for more than 20 years. He has over 25 years of corporate experience in customer service, operations and logistics. He owned and operated Qualitech Solutions, Inc. (a computer net-working company) for more than 10 years. His love of real estate began as an investor and rehabber, and he be-came a licensed REALTOR(R) in 2004. His focus was residential construction, real estate investing, and multi-family housing.

Mr. Hays relocated to Colorado Springs in late 2007, and continues to specialize in residential real estate, real estate investing, and military or corporate relocation.

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♦ Empire Title is a local company that makes its decisions right here, right now. Your title commitments are pro-duced in Colorado Springs, not outside the city, out of state or overseas.

♦ Empire Title provides the best continuing education classes and national speakers to keep you at the top of your game - and entertained.

♦ Empire Title employs the most experienced Escrow, Ti-tle and Support Personnel to provide you and your cli-ents with the most trusted and enjoyable service you deserve.

♦ Empire Title’s Sales Staff assists you with creative and effective marketing ideas and efforts.

♦ Empire Title is founder and sponsor of The Peak Pro-ducers: top producing Real Estate professionals, collec-tively inspiring and enhancing the Pikes Peak Region by giving back to the community.

Don’t put your home purchase on lay-awayNormally at this time of year, people become more inter-

ested in the availability of the latest gift craze than they are with the supply and demand of housing in the local market. But while iPad minis are flying off the shelves, homes in the Pikes Peak region aren’t necessarily gathering dust either (well, may-be if you haven’t vacuumed in a while). A glance at our Months of Inventory show that all homes priced below $400,000 are getting snatched off the market in less than six months, which is widely considered the benchmark for adequate turnaround. That barely gives sellers enough time to put up the good china and silverware after their Thanksgiving feast.

Once you look at the Inventory in Number of Months historically, it be-comes as clear as an unshaken snow globe that Home Sales and Home Prices are increas-ing because there is less of a supply to choose from.

Of course for sellers, this is the gift that keeps giv-ing - as long as your home is priced right to sell. For buyers, it means not staying on the fence for fear of being left out in the cold.

With inventory dipping and sales still strong, the time a home sits on the market is reduced and the price you can get for that home generally increases. Plus, over time it makes for a lovely graphic visual aid ...

In closing - and all of us love being in Closings - ‘tis the season to fill your stomachs, fill your stockings and still fulfill your dream of homeownership. Though nobody has a crystal snowball to see into the future, once the new year hits there may be several changes coming to the economic landscape that could just re- quire you to lay-away and cause you to lay-awake.

Michael J. PodoyakEmpire Title—


* Events subject to change. Due to space, please check with event/class holders early for more detailed information on cost, CE credits, sponsors and registration dates.

Sendyour

us

Photosemail:

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Featured Inventory

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*Pricing and availability subject to change. Some restrictions may apply to Club Social Fitnes Membership and purchasermust apply for membership within 30 days of home closing.

The Ashton........................ 15787 Old Post Dr .............. Ranch .....$451,246....... January 2013 .....MLS #786169

The Paradise ..................... 15648 Old Post Dr .............. Ranch .....$374,869*..... March 2013 ...................................

The Spring Blossom....... 15737 Old Post Dr .............. Ranch .....$403,223*..... March 2013 ...................................

The Stratford .................... 15782 Ann Arbor Way....... Ranch .....$442,398....... February 2013..............................

Classic Homes – Stephanie Davis/Craig Esterle (719) 481-9828Model Location: 15530 Short Line Court (80132)

The Appaloosa II ..... 15516 Colorado Central Way..... Ranch ......... $384,079 ...... Now! .............MLS #778135

The Palomino............ 15604 Soo Line Way...................... Ranch ......... $379,825 ...... Now ..............MLS #752322

The Palmer................. 15640 Soo Line Way...................... 2-Story ....... $395,636 ...... Now! .............MLS #792754

Vantage Homes – Jan Childs (719) 494-8112Model Location: 15542 Short Line Court (80132)

Choice Location.Big Lots. Killer Views.Affordable Elegance.

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Priced from the $300s

Priced from the $270s

Baptist Rd.

Gleneagle D

r.

Commission?Angling

It’s back by popular demand—the “Hooked on Classic” Realtor Recognition Program! And that means we’ll be paying out more than line when we say thanks to all of our hard-working sales partners out there for promoting our properties!

With each qualified closing, we’ll be handing out cash. Cold hard cash, along with a handsome 4% commission. And as your closings increase, so will your bonuses—from $1,000 to $3,000!

The catch? You have to qualify to participate.

So don’t wait. Call or visit your nearest Classic Homes Sales Model today and get outfitted for the biggest adventure ever.

Here’s how it works—by the numbers…

The 2012 Hooked on Classic program applies to all sales and closings for Classic Homes new construction and speculative inventory. Qualifying Realtors will have a chance at other special prizes throughout the year!

Join the 2012 Hooked on Classic Realtor Recognition Program.

The catch? You have to qualify to participate.

Program Terms and Conditions:1) Hooked on Classic 2012 Bonus Incentives will be paid on all contracts

originated between 1/1/2012 and 12/31/2012 and must close by 2/15/2013. 2) You must be an active Colorado licensed real estate agent and must have actively participated in the sale, to include being present at the initial client

meeting, contract signing, and other relevant homebuyer/builder meetings. 3) All bonus commissions will be paid at closing. 4) Employees of Classic

Companies and Flying Horse Realty are not eligible for this program. 5) Bonus commissions are earned on an individual REALTOR

basis, team/o�ce sales are not cumulative. 6) Bonus incentives will be awarded to the individual agent

listed on the contract. 7) Program subject to change without notice. *Pricing and

availability subject to change.

1st Closing4% commission on base price and qualify for the Hooked on Classic Program.

2nd Closing4% commission on base price + $1,000 Bonus

3rd Closing4% commission on base price + $2,000 Bonus

4th Closing (and beyond)4% commission on base price + $3,000 Bonus

www.ClassicHomes.com/Hooked

Call or visit your nearest Classic Homes Sales Model today and get outfitted for the biggest adventure ever.

1) Hooked on Classic 2012 Bonus Incentives will be paid on all contracts originated between 1/1/2012 and 12/31/2012 and must close by 2/15/2013.

NORTHWOLF RANCH6026 Wolf Village Dr (80924) 4 bed, 2.5 bath, 2 car garage3,430 Sq. Ft. 2-Story Plan, $319,961Call 719-282-1650

MLS #746108 – VILLAGE OF SIENA AT FLYING HORSE 13135 Cake Bread Hts (80921) 4 bed, 3 bath, 3 car garage3,226 Sq. Ft. Paired-Patio Ranch Plan, $360,047 Call 719-495-7297

MLS #798787 – VILLAGE OF SARATOGA AT FLYING HORSE1124 Spectrum Loop (80921)5 bed, study, 3.5 bath, 3 car garage3,853 Sq. Ft. 2-Story Plan $399,900Call 719-495-2797

MLS #745221 – VILLAGE OF ENCORE AT FLYING HORSE 2445 Veneto Way (80921) 3 bed, study, 2.5 bath, 3 car garage 3,242 Sq. Ft. Ranch Plan, $412,580Call 719-495-7297

SOUTHMLS #768581 – LORSON RANCH

6869 Alliance Loop (80925)

4 bed, 3 bath, 3 car garage

2,891 Sq. Ft. 2-Story Plan, $262,355

Call 719-390-6200

MLS #717601 – LORSON RANCH 6870 Alliance Loop (80925)

4 bed, 2.5 bath, 2 car garage

3,443 Sq. Ft. 2-Story Plan, $274,669

EASTMLS #787971 – BANNING LEWIS RANCH 8088 Hollygrape Ln (80927)


2,757 Sq. Ft. Ranch Plan, $256,637

Call 719-886-4995

MLS #782335 – INDIGO RANCH AT STETSON RIDGE7784 Renegade Hill Dr (80923)


3,176 Sq. Ft. Ranch Plan, $329,183

Call 719-574-1100

MLS #733283 – BANNING LEWIS RANCH 7147 Buckoak Court (80927)


3,489 Sq. Ft. Ranch Plan, $359,900

Call 719-886-4995

MLS #737302 – MERIDIAN RANCH10967 Klondike Dr (80831)


4,241 Sq. Ft. Ranch Plan on Large Lot

$399,900Call 719-494-1101

FeaturedInventoryALL ReadyFor QuickMove-in!

For a Big

November 26, 2012

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