Spring yard care tips in Colorado Springs

Spring! It's time to start taking care of your yard. Clean-up and cutting back perennials is a good place to start. Here, Catherine has some tips for you.

CSBJ: FHA borrowers to save under Obama proposal

From The Colorado Springs Business Journal | Published January 11, 2015 | Written by Bryan Grossman

President Obama last week proposed lowering insurance premiums on FHA-insured loans by 50 basis points, claiming this would save 250,000 borrowers an average of $900 annually in house payments.

“The annual premiums on FHA loans, an especially popular source of financing for first-time home buyers, have increased five times since 2010,” according to an article in the Washington Post. “They jumped from .55 percent of a loan’s value to 1.35 percent. Those fees will drop to .85 percent toward the end of January. The White House projects the lower premiums will entice 250,000 buyers to take out FHA loans in the next three years, and that the new borrowers will save an average of $900 annually.”

According to a news release issued by RealtyTrac, a national source of comprehensive real estate data and housing information, “this reduction in insurance premiums means that instead of paying 1.35 percent for the loan amount each month in mortgage insurance, borrowers will now be paying just 0.85 percent of the loan amount each month.”

RealtyTrac analyzed the data and found this would save $917 a year on median-priced homes nationwide, according to the release, which is close to the claim Obama made.

“But we all know that no one actually pays the national median price for a home,” the release said. “People pay the price of a home in their market.”

RealtyTrac analyzed this on a county-by-county basis and created a heat map to show where homebuyers will save the most, and also what markets would be considered affordable for median income earners — where a median income earner would need to spend 28 percent or less of his or her income to purchase a median-priced home — after the reforms, and which markets would still be unaffordable after the reforms.

Approximate anticipated average annual savings by county in Southern Colorado:

El Paso: $960

Pueblo: $552

Douglas: $1,645

Teller: $886

Read on CSBJ: http://csbj.com/2015/01/19/fha-borrowers-save-obama-proposal/

Polimino: Seller's market over

On InsideRealEstateNews this week, Dan Polimino swears that the seller's market in Colorado is over.

Polimino says:

I am ready to proclaim that the seller’s market is over. Gone are the days of multiple offers, homes selling in a few hours at over the asking price. Get ready for business being back to normal.

We believe that based on two strong economic factors:

• The rate of new home builds was ramping up faster than expected and as such, home builders would soon pump more and more inventory into the marketplace, giving buyers more choices. This would level out prices and builders would begin to take a larger market share.
• It was not realistic to think that Denver could sustain a 10 percent annual growth year after year. We believe that the market would not pass a 6 percent gain in appreciation this year and it looks like that is what it’s going to shape up to be.

To read Polimiino's conclusions, and the full article, click here.

How to Rent a House in Colorado Springs

So You Want to Rent Your Home

So you have property in the Colorado Springs area, and you are thinking about renting your house. When you think about everything involved in being a landlord, you might decide to not to pursue having an investment property. You’ve probably heard horror stories from other people who have tried to rent their house and either lost money or had to spend so much time making repairs on the property that they missed work or family time.

Thankfully, we have some answers, but first, let’s look at what is involved in renting your home in Colorado Springs.

Things to Take Into Account Before Renting Your Home

• How will you market your rental so that you get it rented quickly, and attract the kind of people you want to live in your house?

• What will you charge? Do you know the rent rates our current market will allow for?

• How will you maintain your property so the yard has the best chances to survive and that beautiful painting you did in the living room isn’t destroyed? How will you even know if damage is being done inside your rental?

• How will you collect prompt payments? What if the renters get behind--what do you do then?

• How will you handle repairs? If your tenants call on Thanksgiving with a flooded basement, will you want to take time away from your festivities to go address the issue?

• Are you good with accounting? You’re going to have to keep close track of the finances so as to not lose money and to please Uncle Sam.

• Do you have a good, affordable lawyer? You might need to sue for damages, or to evict someone.

• Do you know all the laws and rules about renting, including tenant rights? How can you figure this out?

• How’s your muscle tone? Will you be able to confront a bad tenant on issues if you need to?

The Answer That Covers all Your Bases

This is a lot to think about. So what is the answer? How can you rent your house, know you're getting the best market rent rates, and be able to have all of the time you have now to enjoy your life?

It is simple. Hire a good Property Manager who will do all of this for you and transfer rent proceeds to you monthly.

Sound too good to be true?  It’s not! Hundreds of property owners with homes in the Colorado Springs area trust All Seasons, LLC, CRMC Property Management division to take the stress out of being a landlord.

You can save money by hiring them. This is how it works: they charge a percentage of your property's monthly rental rate in exchange for their services; there is no fee when your property is vacant; they charge no mark-ups when they do routine repairs on your property. Monthly proceeds are electronically deposited, and your monthly statements are available online.

Here’s what All Seasons, LLC, CRMC will do for you:

Marketing, Advertising, and Screening - They will utilize the best online advertising in an effort to locate tenants for you quickly, and avoid long vacancies. 

They are available for showings every weekend--one reason their vacancy rate is about half of what it is city-wide in Colorado Springs. Their managed properties are snapped up so quickly that if one is available, multiple people contact the office and oftentimes, there are multiple applications on the same property, giving them the opportunity to pick the cream of the crop.

Their screening process includes running credit, background, previous rental history, and employment references/verifications in an effort to ensure that the approved tenant for your property is qualified to rent. This is all done at no additional charge to you, the homeowner.

Setting the Right Price - A good property manager can set the ideal rental price for your property. This ensures that you get the max monthly income possible, given current market conditions while also obtaining a short vacancy period.

Documenting Your Rental - They use extremely thorough videos to document how the house looks when tenants move in, and identify the issues when they move out. Talk about indisputable evidence as to the condition of the property and whether damages are caused - this is it! They also do exterior assessments three times a year on the single family properties to ensure the tenant is making good efforts in regards to the yard and the general exterior state of your property.

Vendors - These are the guys who fix things on the property. All Seasons, LLC, CRMC has a winning line up of vendors, who not only make the needed repairs, but report back to All Seasons about any other problems they see in the house. Regular vendor review is conducted to ensure the rates being offered for the services by the insured and licensed (if applicable) professionals are competitive. 

Collecting Rental Payments - All Seasons, LLC, CRMC uses an efficient method to effectively collect rent and make sure the payments are on-time--crucial to maintaining your cash flow. With 24/7/365 online access to your "Owner Portal" you can monitor expenses, review bills as they're posted to your account, and even see pictures of issues that need brought to your attention, even when you're worlds away.

So how can you go wrong?

You’ve got the option of DIY, which runs the risk of losing you money and time.

Or, you can hire All Seasons, LLC, CRMC, and let them take care of the time consuming aspects involved with Property Management. 

I know what I will do!

Bloomberg: Young Renters Trading Size for Frills

Published in Bloomberg | July 10, 2104 | Written by Prashant Gobal

Young professionals are paying top-market rents to live in new upscale apartment towers sprouting in Nashville and other downtowns across the country. They’re sacrificing living space for a prime urban location and extras such as cooking classes, dog-wash stations and poolside Wi-Fi.

Developers, in the biggest U.S. apartment-construction boom in almost a decade, are shrinking the size of units so they can command luxury rates without narrowing the pool of potential tenants. The median size of apartments in new U.S. buildings fell last year to 1,043 square feet, the smallest since 2002, Census Bureau data.

At the same time, leasing is getting more expensive. The U.S. average rent per square foot was $1.25 in May, the highest in records dating to 1996, according to Axiometrics Inc.

To read the entire article: http://ow.ly/AibwP

Realtor.org: Great news! Your house is probably worth more money today than it was in January

Published on Realtor.org | Written by Adam DeSanctis | June 23, 2014

Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier.

Lawrence Yun, NAR chief economist, said current sales activity is rebounding after the lackluster first quarter. “Home buyers are benefiting from slower price growth due to the much-needed, rising inventory levels seen since the beginning of the year,” he said. “Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.” 

Read the full article here: http://www.realtor.org/news-releases/2014/06/existing-home-sales-heat-up-in-may-inventory-levels-continue-to-improve

7 Colorado Lawn Care Tips for Green & Healthy Grass

Caring for a lawn at high altitude in a dry climate can be a challenge. Here are 7 tips to help you succeed. 

Lawn Care Tip 1 - One-Third Rule 

Removing more than 1/3 of the grass blade will stress out your lawn. If you cut or take out too much of the grass blade, your lawn will have a difficult time thriving and will instead look burnt out.

Lawn Care Tip 2 - Highest Acceptable Height

When you have long grass blades, your roots will grow deeper. Grass that has deeper roots will withstand drought and oppose pests and diseases.

Lawn Care Tip 3 - Sharp Mower Blades 

Your lawn's appearance is enhanced by sharp mower blades. Cleaner cuts of grass are provided by sharp blades. Grass will be able to recover from mowing faster when it is cut by sharp blades.

Lawn Care Tip 4 - Apply Fertilizer 

Use fertilizer to get a healthy, green lawn. You have to apply fertilizer at the right time to get the best results. Consult with your local Weed Man professional for options.

Lawn Care Tip 5 - Deal with Weeds, Insects and Diseases

Brown circles or dry areas around your lawn means that you might have a problem. As problems travel under the soil, big circles called brownouts caused by fungal disease or insects leave a line of traceable dead grass. Your Weed Man professional can help identify the exact problem and recommend treatment.

Lawn Care Tip 6 - Deep Watering

Deep (rather than shallow) lawn watering is encouraged to grow deeper roots. One inch of water to 12 inches of soil is the preferred ratio for watering actively growing grass. Watering your lawn every three days is better than watering a few minutes every day.

Lawn Care Tip 7 - Check Your Irrigation System

For proper turf watering, test your irrigation system. One suggestion is to place five straight-sided pans around your lawn. When you turn your irrigation system on, take note of how long it takes for one inch of water to accumulate. Check to see if all the pans get the same amount of water. You might need to adjust the amount or distance of your lawn's sprinkler heads.  

To read the full article on WeedManUSA, click here: http://ow.ly/ypPMD

CSBJ Best of Business 2014 - Voting Ends Today!

The CSBJ Best of Business voting has begun.   Of course, we'd love for you to show your support for us again!  We are entered in the following areas:

• Best Property Management Residential: All Seasons LLC

There are some rules to the voting, but it is worth the few minutes it will take you to do it! Here are the steps, rules, and some recommendations.

1. Go to: http://csbj.com/2014-best-of-business/
2. Click on the image to begin voting.
3. Register/Login - complete simple login information
4. Start with the Non-Book of List Categories and the website will guide you through the entire list of categories.

It's that simple, but heads up! You must vote in at least 25 categories for your votes to count. You can vote for your favorites in any of the other categories. Happy Voting!

'Widespread' Softness Defines Market

from Colorado Real Estate Journal | by Jennifer Hayes | April 30, 2014

Widespread softness marked the Colorado Springs apartment market in the first quarter of 2014.
Apartment Insights recently released its Statistics/Trends Summary for the first three months of the year in which it noted vacancy rose, absorption dropped and rents saw a slight increase.

“Vacancy increased in most categories, including affordable properties, absorption was negative and concessions increased, more than offsetting the increase in rents,” explained Doug Carter of Sperry Van Ness/Doug Carter LLC, who co-authored the report with Cary Bruteig of Apartment Appraisers & Consultants. “Although long-term trends remain positive for the area, the recovery continues at an uneven pace.”

Read the rest of the story at the Colorado Real Estate Journal by clicking here.

Pros and Cons of Living Within a Homeowners Association

from Realtor.com | by Michele Lerner | April 25, 2014

Ask two different homeowners what they think about living in a community with a homeowners association and you may see one of them scowl and another smile. The difference of opinion on homeowners associations, or HOAs, depends on several factors, including individual personalities and preferences and the quality of the particular HOA.

To learn more about HOAs read the rest of the article by clicking here.

Report: Year-Over-Year Foreclosure Down in January

from Colorado Springs Business Journal | by Cameron Moix | March 31, 2014

While increasing from the month prior, Colorado Springs foreclosure rates decreased year-over-year in January, according to a report by real estate research firm CoreLogic.

CoreLogic reported foreclosures in the Colorado Springs area dropped from more than 1 percent in January 2013 to .77 percent in January 2014.

To read the rest of the article click here.

Average rent continues to rise in Springs

from Colorado Springs Business Journal | by Cameron Moix | February 28, 2014

Average apartment rent rose in the Colorado Springs metro for the 16th consecutive quarter (year over year) at the close of 2013, according to a report released Friday by the Colorado Division of Housing and the Apartment Association of Southern Colorado.

The report indicated that the average rent for Springs residents rose $9 (or 1 percent) to $799 compared to the same quarter of 2012. Although the year-over-year rate has increased for 16 straight quarters, the report specified that average rent is down from $830 during the third quarter of 2013.

To read the rest of the article at the Colorado Springs Business Journal click here.

The Mortgage Market Is About To Get Smaller

from PropertyManager.com | by Marc Courtenay | February 27, 2014

As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders from allowing borrowers to carry total debt payments totaling more than 43 percent of the person’s annual income.

To read the rest of the article click here.

Too Many MLSs?

from REALTOR Mag | by Meg White | January 2014 

Data standardization remains a challenge across various listing platforms, causing some to call for MLS consolidation.

The strain between brokers and agents was evident when the subject of the number of MLSs across the country was discussed at the MLS Forum at the 2013 REALTORS® Conference & Expo last November.

Sales associates are frustrated because they have to pay membership fees to more than one organization, and brokers often have difficulty coordinating data between disparate sources. Some brokers at the forum said they have members of two different associations in the same real estate office or listings that are directly across the street from each other appearing in two separate MLSs.

To read more find the full story here.

8 States With the Most Mortgage Fraud Cases

from REALTOR Mag | February 11, 2014 |

Overall, suspicious activity in lending is down, but mortgage fraud remains particularly problematic in cerain areas across the country, according to the LexisNexis 15th annual Mortgage Fraud Report (PDF). The report highlighted the worst states for mortgage fraud, based on the highest number of investigations in 2012. 

To see the states at the top of the list click here.

Advice for First-Time Home Buyers

Daily Real Estate News| December 2, 2013

Movoto Real Estate, an online real estate brokerage based in San Mateo, Calif., asked its agents for advice that they would give clients looking to purchase a home for the first time. These tips can help guide your clients through every step of the process.

To read the full article click here.

Prepare Your Home for Freezing Temperatures

Below-freezing temperatures are coming this week!  Prepare your water pipes to keep them from freezing. Frozen pipes can burst when the temperatures drop, causing extensive and costly water damage.




Here are some simple steps you can take to help ensure your pipes are ready for the cold temperatures.

• Check water supply lines that are located in unheated areas. Check the basement, crawl space, attic, garage, and under kitchen and bathroom cabinets. 
• Insulate hot and cold water pipes in these areas. 
• Drain automatic landscaping sprinkler systems.
• Disconnect all hoses from water supplies around the outside of your home. 
• Set water to drip from any faucet served by exposed pipes. (Running water through the pipe,  even at a trickle, helps prevent pipes from freezing.)

WSJ: Fall is Time to Prepare the Yard for Spring

Published in The Wall Street Journal | October 20, 2013 | Written by Lindsay Gellman

Simple Chores Done Now Could Save You Cash Next Year

Fall is in the air—which means leaves will soon be on the ground in the colder states, and cooler, drier air is blowing into the South and West.

Now's the time to begin fall yard work such as raking leaves, weeding and cleaning out the gutters. But it isn't just about aesthetics. A few chores now could save you headaches—and cash—in the spring.

1. Rake leaves

If you're in a colder region, make sure to rake the leaves from your yard before the first snow hits or mold could set in and damage your lawn, says Bruce Allentuck, president of Allentuck Landscaping Company in Clarksburg, Md. One option is to bag the leaves for removal.

Check with your town to see whether there is a municipal leaf-composting program, says Margaret Roach, founder of gardening blog AWayToGarden.com in Copake Falls, N.Y.

Programs such as these collect leaves in the fall for composting and provide residents with low-cost or even free leaf-compost material for spring planting (a cubic yard of similar material sells for $25 to $55 plus delivery from a landscaper or garden center, Ms. Roach says).

Or you can create your own compost heap in a corner of the yard that you're not using, she says.

2. Weed and prune

It may be tedious, but a little weeding now will go a long way in the spring, Ms. Roach says. People "spend a lot of their dollars and time trying to get rid of weeds," she says. "Right now is when you can really minimize next year's weed problems."

Your goal should be preventing current issues from worsening, rather than perfection. Target seed-laden weeds and others with runner-like roots, says Ms. Roach.

You should also examine woody plants, like shrubs and trees, to see if there are any dead or broken branches that might give way in winter winds or snow, potentially causing damage, Ms. Roach says. If so, prune them, or for larger trees, consider hiring a professional to do so for you, she says.

3. Clear gutters and drains

Unclogging gutters and outdoor drainage is essential for preventing water damage to your house, says Nicholas Brand, founder of Vancouver-based window- and gutter-cleaning service Men in Kilts.

If you neglect your gutters, Mr. Brand says, you risk water backing up and seeping into your roof or spilling over and down the side of the house, damaging your foundation.

The timing of your cleaning is critical, he says—too early and your gutters will reclog; too late and they'll be filled with frozen debris. Aim for a cleaning right before the first snow, he says.

If you hire a professional, the service typically runs $250 to $300, but varies by house size, says Mr. Brand. Be sure that you have sufficient liability insurance and that the service company has local workers'-compensation insurance, he says.

4. Insulate plants

"When it's cold outside, we can put jackets on, but plants can't," Mr. Allentuck says. So if the temperature in your area dips below freezing, or you know a cold snap is coming, make sure your plants have adequate insulation, he says.

One way to do so is to put down a one-layer inch of mulch to protect roots, he says. In addition, it's a good idea to cover frost-sensitive plants with burlap, a sheet or a cardboard box, he says. You can move potted plants indoors or close to the house for extra warmth, he adds.

But be sure to remove those coverings once the sun comes up and temperatures rise. "Otherwise, you'll end up with a baked plant," says Tom MacCubbin, host of a gardening radio program in Orlando, Fla.

5. Plant new perennials

In many regions, late fall is the perfect time to plant new perennials—and in warmer climates, most trees and shrubs as well as cool-season annuals, says Lili Singer, director of special projects and adult education at the Theodore Payne Foundation for Wildflowers and Native Plants in Sun Valley, Calif.

Garden centers often have steep discounts this time of year, says Ms. Roach. Ask a local garden professional which plants typically thrive in your area if planted now.

And in some southern states, where lawns can really take a beating during the summer months, this might be the right time to aerate, reseed and fertilize your lawn, says Mark McAuliffe, vice president of operations at Cross Creek Nursery and Landscaping in Richmond, Va.

Read the article on The Wall Street Journal: http://online.wsj.com/news/articles/SB10001424052702304864504579139320312957410

Beware Frozen Water Lines

Beware Frozen Water Lines

from Colorado Springs Utilities | October 13, 2013

Don't get left in the cold with frozen or broken water pipes. Besides creating a soggy mess, broken water pipes can put a strain on your wallet. Whether indoors or outdoors, service lines are the homeowner or property owner's responsibility. This includes the pipe connected from the water main (usually in the street) to and then through your residence or business. We recommend you regularly have lines checked for blockages or aging.

To see the full statement click here.

Homeownership Rates: Top and Bottom 5 States

Homeownership Rates: Top and Bottom 5 States.

from National Association of Realtors | by Ken Fears | August 27, 2013

Affordability has a strong impact on homeownership.  Not surprisingly, four of five states with the lowest homeownership rates in the US are characterized by markets with high prices.

To read more about homeownership rates in the U.S. follow the link to the full article here.