csrej - november
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November 24, 2014TRANSCRIPT
Vol.7 No.3 www.csrej.com November 24, 2014
North AmericanTitle Second Annual Photo Day
PAGE 9
HBA 2-Man Scramble Golf Tournament
PAGE 6
RE/MAX Properties Power Up Symposium
PAGE 5 Mob
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National News ........... Page 2Local News ............... Page 11On the Move ............. Page 13Local Expert ............. Page 14Around the Corner ...... Page 15
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Boulder wins YPN Award at NAR meetings
Home-price gains hold steady in majority of metros in third quarter
Audit shows FHA Fund is healthy, time to lower mortgage insurance premiums, say Realtors®
“NAR is pleased that the 2014 Actu-arial Review of the Federal Housing Ad-ministration released today con�rms that the Mutual Mortgage Insurance Fund is healthy and continues its positive trajec-tory. �e ongoing decline in delinquen-cies and stabilizing home values indicate that FHA will stay on track to rebuild its capital reserve fund and ultimately meet the 2 percent excess reserve amount re-quired by Congress.
“Now that the MMI Fund is on a path to recovery, NAR urges FHA to lower its annual mortgage insurance premiums and eliminate the requirement that
mortgage insurance be held for the life of the loan. Achieving homeownership has become more di�cult with current FHA mortgage insurance premiums.
“NAR estimates that in 2013, nearly 400,000 creditworthy borrowers were priced out of the housing market because of high FHA insurance premiums. By lowering its fees, FHA could provide
greater access to homeownership for his-torically underserved groups. To put it in perspective, over the past four years, the
percent share of �rst-time buyers using
FHA-backed loans shrank from
56 percent to 39 percent.
“A shi� in policy would also increase the volume of borrow-ers acquiring
FHA-backed loans and contribute to the solvency of the MMI Fund.
“NAR is a strong supporter of the FHA and its vital role in the mortgage marketplace. In light of this report, NAR believes that Congress should not dra-matically change the FHA or rede�ne its purpose. We will continue our work with FHA to help make the dream of homeownership a reality for millions more Americans.”
© Copyright National Association of Realtors. Reprinted with permission.
Home prices showed continued growth in a majority of metropolitan ar-eas in the third quarter, but all four major regions saw increases at or below 5 per-cent from a year ago, according to the lat-est quarterly report by the National As-sociation of Realtors®.
�e median existing single-family home price increased in 73 percent of measured markets, with 125 out of 172 metropolitan statistical areas (MSAs) showing gains based on closings in the third quarter compared with the third quarter of 2013. Forty-seven areas (27 percent) recorded lower median prices from a year earlier.
�e number of rising markets in the third quarter was mostly unchanged from the second quarter, when price in-creases were recorded in 71 percent of metro areas. Sixteen areas in the third quarter (9 percent) had double-digit in-
creases, a sharp decline from the 54 areas (33 percent) in the third quarter of 2013. Nineteen areas experienced increases in the double-digits in the second quarter of this year.
Lawrence Yun, NAR chief economist, says home prices in the third quarter con-tinued to stabilize towards a healthier rate of growth. “Home-price gains returned to more normalized levels of low- to mid-single digit rate of appreciation in many metro markets as inventory levels steadily in-creased,” he said. “Moreover, there are a good number of local markets that are still remarkably a�ordable with median prices at or under $200,000.”
�e national median existing single-family home price in the third quarter was $217,300, up 4.9 percent from the third quarter of 2013 ($207,100). �e
median price during the second quarter of 2014 increased 4.2 percent from a year earlier.
Total existing-home sales, including single family and condo, increased 5.2 percent to a seasonally adjusted annual rate of 5.12 million in the third quarter from 4.87 million in the second quarter, but are still 3.8 percent below the 5.32 million pace during the third quarter of 2013.
Yun adds, “Given the improving labor market and historically low interest rates, more buyers are anticipated to enter the market next year.”
Total housing inventory continued to make strides at the end of the third quar-ter at 2.30 million existing homes avail-able for sale, which is 6.0 percent higher than a year ago. �e average supply dur-
Yun
YPNers (Young Profesionals Net-work) cut a rug at Generations Hall in New Orleans this month during the announcement of the Networks of the Year at the NAR Convention.
It seemed more than ��ing that the rising young stars of real estate joined some of their older, more-experienced brethren at Generations Hall in New Orleans on Friday night. �e reception during the REALTORS® Conference & Expo crowned the best and brightest from REALTOR® Magazine’s Young Pro-fessionals Network.
Age was nothing—not even a num-ber—to the partygoers as they put aside
See YPN | 2
CAR Awards Pg. 11Including Realtor/Year
See Home Prices | 3
2 www.csrej.com Colorado Springs Real Estate Journal November 24, 2014
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their business stresses for an evening of mingling, dancing, and celebrating an-other year well done. Boulder (Colo.) Area REALTORS® Association YPN earned the Small Network of the Year award; Birmingham (Ala.) Association of REALTORS® YPN took home Medium Network of the Year; Sco� sdale (Ariz.) Area Association of REALTORS® YPN won Large Network of the Year; and Cal-ifornia Association of REALTORS® YPN was named State Network of the Year.
Pictured from le� : Drew Smith (Boul-der) , Keith Kanemoto (Longmont), and Denise Storm (Durango).
© Copyright Colorado Association of Realtors. Reprinted with permission.
NAR call for action: Don’t tax “phantom income”
Builder confi dence in the 55+ housing market shows strong growth in third quarter
Congress has begun its “Lame Duck” session with a big list of un� nished busi-ness items. Number one on that list for REALTORS® is an extension of “� e Mortgage Forgiveness Tax Relief Act.”
� is bipartisan legislation would ex-tend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe. Today’s hous-ing market is � nally recovering. However, there are still too many homeowners un-able to meet their mortgage obligations.
Estimates show that about 5.3 million homes are still under water. In addition, there are still more than 1 million homes in the process of foreclosure.
If “� e Mortgage Forgiveness Tax Relief Act” is not enacted, hundreds of thousands of American families who did the right thing by short-selling their home or received a much needed loan re-duction from their lender will have to pay income tax on “phantom income.”
Urge your Member of Congress and Senators to act on “� e Mortgage For-giveness Tax Relief Act” before the end
of 2014 and help provide certainty for struggling homeowners and stability for our nation’s housing markets.
© Copyright Colorado Association of Realtors. Reprinted with permission.
Builder con� dence in the single-family 55+ housing market for the third quarter is up year over year, according to the National Association of Home Build-ers’ (NAHB) 55+ Housing Market Index (HMI) released today. Compared to the third quarter of 2013, the single-family index jumped nine points to a level of 59, which is the highest third-quarter read-ing since the inception of the index in 2008 and the 12th consecutive quarter of year over year improvements.
“Demand for 55+ housing has never been higher, and this quarter’s index clearly demonstrates that,” said Steve Bomberger, chairman of NAHB’s 50+ Housing Council and president of Benchmark Builders Inc. in Wilmington, Del. “Consumers in this market are look-ing for a home that caters towards their speci� c needs, and 55+ builders and developers are able to create homes and communities that address these needs.”
� ere are separate 55+ HMIs for two segments of the 55+ housing market: sin-gle-family homes and multifamily con-dominiums. Each 55+ HMI measures builder sentiment based on a survey that
asks if current sales, prospective buyer tra� c and anticipated six-month sales for that market are good, fair or poor (high, average or low for tra� c). An index num-ber below 50 indicates that more build-ers view conditions as poor than good.
All components of the 55+ single-family HMI posted increases from a year ago: present sales jumped 13 points to 65, expected sales for the next six months climbed 10 points to 63 and tra� c of pro-spective buyers rose three points to 46.
� e 55+ multifamily condo HMI posted a four-point gain to a reading of 41, which is also the highest third-quarter reading since the inception of the index. All components of the index increased for the third quarter: present sales rose � ve points to 42, expected sales for the next six months climbed three points to 43 and tra� c of prospective buyers in-creased three points to 38.
� e indices tracking production and demand of 55+ multifamily rentals also posted positive results in the third quar-ter. Present production rose four points to 52, expected future production in-creased two points to 52, current demand for existing units climbed four points to 64 and future demand increased � ve points to 65.
“� e consistent rise in home equity has contributed to the strong gains in the 55+ housing market,” said NAHB Chief Economist David Crowe. “Many con-sumers who had been sidelined due to the inability to sell their current homes at an acceptable price are now in a position
where they can sell their homes, enabling them to rent or buy in a 55+ community.”
The above article has been provided to you compliments of the National Association of Home Builders.
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November 24, 2014 Colorado Springs Real Estate Journal www.csrej.com 3
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ing the third quarter was 5.4 months; it was 5.0 months in the third quarter of 2013. A supply of 6 to 7 months represents a rough balance between buyers and sellers.
NAR President Steve Brown, co-owner of Irongate, Inc., Realtors® in Dayton, Ohio, says traditional buyers are entering a more favorable market. “With inventory levels at a rate closer to supporting overall demand, bid-ding wars are occurring less – giving buyers more time to view homes and secure �nancing,” he said. “Addition-ally, Realtors® across the country continue to report less investor activity and fewer all-cash sales in their markets compared to earlier in the year.”
Distressed homes – foreclosures and short sales gen-erally sold at discount – accounted for 9 percent of third quarter sales, down from 14 percent a year ago. “Dis-tressed sales are becoming less prevalent in many parts of the country and will likely be in the low single-digits percentagewise at this time next year,” adds Yun.
According to Freddie Mac, the national average com-mitment rate on a 30-year conventional �xed-rate mort-gage held steady during the third quarter to an overall average rate of 4.14 percent, down from 4.23 percent during the second quarter of the year. �ey were 4.4 per-cent in the third quarter of 2013.
Slightly lower mortgage rates and an uptick in the national family median income ($65,562) kept af-fordability in the third quarter roughly in line with the second quarter. To purchase a single-family home at the national median price, a buyer making a 5 percent downpayment would need an income of $48,334, a 10 percent downpayment would require an income of $45,790, and $40,702 would be needed for a 20 percent downpayment.
Metro area condominium and cooperative prices – covering changes in 61 metro areas – showed the na-tional median existing-condo price was $211,000 in the third quarter, up 2.7 percent from the third quarter of 2013 ($205,500). Forty-one metro areas (67 percent) showed increases in their median condo price from a year ago; 20 areas had declines.
�e �ve most expensive housing markets in the third quarter were the San Jose, Calif., metro area, where the median existing single-family price was $860,000; San Francisco, $744,400; Anaheim-Santa Ana, Calif., $697,000; Honolulu, $677,600; and San Diego, $517,800.
�e �ve lowest-cost metro areas in the third quarter were Youngstown-Warren-Boardman, Ohio, where the median single-family home price was $84,500; Cumber-land, Md., $93,200; Rockford, Ill., $98,100; Decatur, Ill., $101,900; and Toledo, Ohio, $107,000.
In the West, existing-home sales rose 4.8 percent in the third quarter but remain 7.2 percent below a year ago. �e median existing single-family home price in the West jumped 4.9 percent to $302,300 in the third quar-ter from the third quarter of a year ago.
© Copyright National Association of Realtors. Reprinted with permission.
Home Prices from 1
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Big data will play an important role in the future of real estate and for RealtorsAdvances in mobile technology have
the potential to radically change the ways consumers search for real estate online, according to a session at the 2014 REAL-TORS® Conference & Expo that peered into what can happen in the future re-garding big data and real estate.
At the session, National Association of Realtor®’s Managing Director of Data Analytics Todd Carpenter discussed how big data and mobile computing can be leveraged by brokers, agents and real
estate portals to more e�ectively mar-ket homes to consumers. A�endees also gained insight into how evolving mobile technologies will allow consumers to assemble personal, intuitive real estate searches without the guidance of a web marketing portal.
According to Carpenter, the Internet of �ings, which is using and transferring data over networks through a device and without human-to-human or human-to-computer interaction, will transform
consumers’ experience of searching for real estate online. He shared big data ex-amples, including mobile apps that are already revolutionizing the way individu-als go about their day, such as tracking daily physical activity, navigating tra�c in real-time and managing a home ther-mostat from afar.
“A buyer could eventually ask an agent about how a home functions – such as how well it heats or the amount of elec-tricity it uses during certain parts of the
day – and receive an immediate answer with detailed graphics and analysis,” said Carpenter. “�at information may not be readily available to buyers today, but it’s coming soon as more individuals use their smartphone to connect their home to the internet.”
Added Carpenter, “Everything from transportation to the healthcare industry are helping individuals make informed
See Big Data | 8
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decisions about their lives based on data collected from their smartphone. � ese advances in mobile technology will make it easier for Realtors® to communicate valuable information to their clients dur-ing the home buying and selling process.”
Carpenter said IoT and predictive an-alytics are helping the real estate industry be� er understand transaction and market data to the bene� t of the industry, agents and consumers. � e amount of data col-
lected will likely continue to increase and will be used more to predict buyer and seller behavior as well as trends in home preferences and neighborhoods. � is in-cludes highly-customized home searches that encompass factors such as proximity to work, public schools and restaurants.
“Realtors® should educate themselves about big data and be knowledgeable of how it’s being collected through mobile devices,” said Carpenter. “Buyers will in-creasingly use their smartphone during the search process – o� en times before
� rst talking to an agent. Realtors® who adapt and embrace big data will add con-siderable value to their relationship with clients.”
Last year NAR launched a new Pre-dictive Analytics group that examines and analyzes member and customer trends from a variety of data sets to help the association’s members make be� er business decisions and meet the needs of their clients.
© Copyright National Association of Realtors. Reprinted with permission.
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Realtors® from across the country gathered today to discuss the e� ects changing homebuyer demographics on the housing market during the REAL-TOR® University Richard J. Rosenthal Center for Real Estate Studies forum today at the 2014 REALTORS® Confer-ence & Expo.
"Among primary residence home-buyers, the demographics have shi� ed dramatically, especially among � rst-time homebuyers, whose share of the mar-ket has dropped to its lowest level in decades,” said Jessica Lautz, director of member and consumer survey research for the National Association of Real-tors®. “We have also seen an increase in the median age and income of the aver-age buyer, as well as in multigenerational household formations as adult children and elderly family members move back
in with their families."Adult millennials, those aged 18 to 33,
were a popular topic of discussion for the panel. In 2014, millennials saw 60 per-cent be� er job growth than the US over-all and a drop in unemployment to 6 per-cent. � is growth, along with improved economic opportunities, should encour-age millennials to form households and buy homes in the coming years. "Millen-nials are the largest generation of people in the U.S. and represent 60 percent of � rst-time homebuyers,” said Jonathan Smoke, chief economist for realtor.com®.
“� ey are also more likely than any other group to purchase a home in the next year."
Tightened inventory, di� culty receiv-ing credit and lower than average salaries have kept many of these buyers out of the market, but most economists see that as a temporary setback.
"It's not that young people don’t want to purchase homes, it’s that they are de-laying the purchase," said Lisa A. Stur-tevant, vice president of research for the National Housing Conference. "Many of the reasons millennials are not forming households or making purchases are eco-nomic, so as the economy improves, we should see this group become more of a force in the housing market."
Smoke said it’s a misperception that millennials are not already participating in the market. “� ey represented 37 per-
cent of home shoppers this summer, and over the next 5 years this generation will make up two-thirds of household forma-tions," he said. "Between June and Sep-tember 2014, over half of adults aged 21-34 visited real estate websites or mobile apps. And this is the cusp—get ready for the millennial wave to drive the housing market for decades."
Another group that will be competing with millennials for dominance in the housing market is baby boomers. Stur-tevant said, "With millennials searching for new homes, baby boomers downsiz-ing, and groups with historically lower incomes all entering the market, an in-creased demand for smaller, less expen-sive homes will begin to emerge."
© Copyright National Association of Realtors. Reprinted with permission.
Realtors: Changing demographics impacting housing market
November 24, 2014 Colorado Springs Real Estate Journal www.csrej.com 9
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Awards presented at 2014 CAR Convention, Reynolds Realtor of the Year
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Randy Reynolds, a broker associate with Berkshire Hathaway Home Servic-es Rocky Mountain in Colorado Springs, was named Colorado Realtor of the Year by the Colorado Association of Realtors (CAR) at its 94th annual convention in Denver. � e award is the most presti-gious award given to a CAR member and is a culmination of a distinguished career within the Realtor organization— at the local, state and national levels. In addi-tion to activity within the association, the Realtor of the Year is a person active at the community level and successful in business.
Reynolds, a Colorado native and Col-orado Springs Realtor since 1981, has served in numerous local and state indus-try leadership positions throughout his career including as president of the Pikes Peak Association of Realtors in 2004-05 and CAR in 2010-11, as well as volun-teering for diverse leadership roles with the National Association of Realtors.
Reynolds’ industry leadership and volunteer roles include years of hands-on work and leadership on diverse issues. Working with a wide range of political candidates, as well as on government af-fairs initiatives, Reynolds has focused his e� orts on the protection of both the real estate industry and personal property rights. In addition, he has been a long-time board member and active volunteer with Junior Achievement, helping teach young students about business, � nancial literacy, entrepreneurship and the free-enterprise system.
“From school board elections and city council positions to congressmen and federal policymaking, Randy has given his time and expert insight to help guide our local, state and national Realtor orga-nizations,” said Don Flynn, CEO of the Colorado of Association of Realtors. “He has given countless hours of his personal time giving back to both the community and the industry that he loves.”
In addition to honoring Reynolds, outgoing CAR Chairman Jolon Ruch presented the President’s Distinguished Service Award to � ve individuals, as well as to the CAR sta� . � e award honors outstanding contributions to the real es-tate industry and the association.
Distinguished Service Award Honorees were:Gary Bauer (Garold D. Bauer, Denver)
Karen Levine (RE/MAX, Denver)
Greg Zadel (Zadel Realty, Firestone)
Julie Retzla� (Slifer Smith & Frampton Real Estate, Vail)
Terry Storm (President/CEO, Pikes Peak Association of Realtors, Colorado Springs) Colorado Association of Real-tors Sta� , Englewood
Additional awards presented during the convention included:
• Th e Gus Williams Colorado Young Professional Network Realtor of the Year – Denise Storm (RE/MAX Pin-nacle, Durango)
• Political Service Award – Doug Barber (� e Rawhide Company Real Estate, Colorado Springs)
• Th e William “Bill” Good Award – Tom Kenyon (Bray Real Estate, Grand Junc-tion)
• RPAC Ambassador of the Year Award – Jason Peck, (Keller Williams, Denver)
• Colorado Platinum R Award – Linda Romer Todd, (Associated Brokers & Consultants, Grand Junction)
• Th e Realtor Land Institute (RLI)- Bart Miller, (Mason Morse Ranch Company, Denver)
See CAR Awards | 12
12 www.csrej.com Colorado Springs Real Estate Journal November 24, 2014
Local News
• New Homes available now for immediate move-in
• Homes from the $200s to the $500s
• Innovative Neighborhood Schools
• 30,000 Sq. Ft. Recreation Center & Outdoor Pool
• Antler Creek Golf Course• CreekView Grill
• Neighborhood Parks & Paved Trails
• Open Spaces & Views• Minutes to Peterson &
Schriever Air Force Bases• Easy Access to I-25, Hwy. 24
& Colorado Springs Airport• New Home Sites
Now Available!D I S C O V E R W H Y P E O P L E L O V E L I V I N G H E R E .
VISIT MERIDIANRANCH.COM
M O D E L S O P E N D A I LYClassicHomes.com CampbellHomes.com RichmondAmerican.com GJGardner.com MajesticCustomHomes.com SaintAubynHomes.com ReunionHomesColorado.com
• New Homes available now for immediate move-in
• Homes from the $200s to the $500s
• Innovative Neighborhood Schools
• 30,000 Sq. Ft. Recreation Center & Outdoor Pool
• Antler Creek Golf Course• CreekView Grill
• Neighborhood Parks & Paved Trails
• Open Spaces & Views• Minutes to Peterson &
Schriever Air Force Bases• Easy Access to I-25, Hwy. 24
& Colorado Springs Airport• New Home Sites
Now Available!D I S C O V E R W H Y P E O P L E L O V E L I V I N G H E R E .
VISIT MERIDIANRANCH.COM
M O D E L S O P E N D A I LYClassicHomes.com CampbellHomes.com RichmondAmerican.com GJGardner.com MajesticCustomHomes.com SaintAubynHomes.com ReunionHomesColorado.com
Pike’s Peak Women’s Council of Realtors gears up for 2015 with a bang!By Laura Read, Local Chapter Secretary Pike’s Peak Chapter of Women’s Council of Realtors
� e Pike’s Peak Chapter of the Wom-en’s Council of Realtors welcomed it’s 2015 Board Members on October 9th at the Sunbird Restaurant. � e new o� cers are as follows: Kathy Tutko, President; Dawn Grubbs, President-elect; Gabriele Onofre, VP of Membership; Laura Read, Secretary; and Linda Schierholz, Trea-surer. WCR is very proud of the new board and looks forward to a prosperous new year!
� e next WCR event is the Annual Holiday Auction & Luncheon. � is is an event where you can shop for Christmas gi� s via a live auction and a silent auc-tion, enjoy lunch, and know that part of your proceeds will be donated to Tessa. It will be held at the Colorado Springs
Country Club on � ursday, December 11th from 11am-1pm. Individual tick-ets are available $20. You can RSVP via the tab on our Facebook fan page or con-tact Michele VanMetre 719-633-7718 [email protected]. RSVP now to en-sure you get a seat.
A special thanks goes out from WCR to the sponsors of the event…imortgage, First Mortgage, Legacy Title, Criterium McCa� erty Engineering, Nextage Pikes Peak Properties, Integrity 1st Insurance, American Family Insurance, and Synergy Realty Group, Inc. WCR looks forward to a fun and successful event!
� e Women’s Council of Realtors pro-vides opportunities for networking with the top people in real estate in the Colo-rado Springs area. All are encouraged to a� end a monthly luncheon and see if it is for you!
• CAR also recognized 16 members with the Omega Tau Rho Award – the Realtor Society which pays tribute to the service of professionals throughout the United States. Award winners were:
David Barber (RE/MAX Unlimited, Aurora)
Doug Barber (� e Rawhide Company Real Estate, Colorado Springs)
Kit Cowperthwaite (Kit Realty, Denver)
Amy Dorsey (Slifer Smith & Frampton Real Estate, Vail)
Paul Erdmann (RE/MAX Alliance, Aurora)
Doreen Eubank (RE/MAX Unlimited, Aurora)
Michael Hardin (RE/MAX Alliance, Aurora)
Keith Kanemoto (RE/MAX Commercial, Longmont)
Michael Labout (E� Shields, Colorado Springs)
Sco� Mathias (RE/MAX Professionals, Denver)
Charlo� e Rohrig, (� e Charlton Company, Aurora)
Jolon Ruch (Keller Williams Preferred Realty, Denver)
Toni Parker (Vail Board of Realtors, Vail)
Randy Reynolds (Berkshire Hathaway Home Services Rocky Mountain in Colorado Springs)
Pete Traynor (RE/MAX Masters, Greenwood Village)
Preston Troutman, (Coldwell Banker Fremont Realty, Canon City)
New inductees to the National Association of Realtors Hall of Fame are:Joe DiVito (RE/MAX Alliance, Denver)
George Harvey (� e Harvey Team, Telluride)
Michael Marcus (Coldwell Banker Real Estate, Green-wood Village)
Linda Romer Todd (Associated Brokers & Consultants, Grand Junction)
In addition, Richard Sly of Keller Williams in south metro Denver was inducted into the Colorado Associa-tion of Realtors Hall of Fame.
© Copyright Colorado Association of Realtors. Reprinted with permission.
CAR Awards from 11
View the paper online, anytime at www.csrej.com
November 24, 2014 Colorado Springs Real Estate Journal www.csrej.com 13
On the Move
Eric EstradaERA Herman Group
E� Herman Group Real Estate re-cently announced the addition of Eric Estrada to its management team serving o�ces in the Colorado, Florida and Ne-vada markets. Eric Estrada will assume the role of Director of Business Devel-opment and Marketing. He will focus on expanding business opportunities in Colorado and will manage marketing initiatives for all E� Herman Group of-�ces across the nation.
Bedoya, Jernigan, Niles
Keller Williams PartnersPlease welcome Rebecca Bedoya to
Keller Williams! Rebecca has a BA in Political Science from Colorado State University. She has lived in Colorado Springs for 9 years. Rebecca has 5 kids, loves camping, snowboarding and swim-ming! She got into Real Estate because she wanted to have her own business that she could grow, as well as the �exibility to spend time with her children.
Join us in welcoming Susie Jernigan to Keller Williams! Susie has lived in Colorado Springs for 31 years. She has a B.S. in Business from Arizona State University. Susie has had a home staging company called Sun�owers & Cypress Home Staging for 8 years. Outside of Real Estate, Susie is an artist. She uses watercolors and oils and is hung at Gal-lery 113 on Tejon. She is excited to work in Real Estate because she loves working with people and will enjoy the challenge of �nding the right home for her client.
Please welcome Stacy Niles to the Keller Williams Family! Stacy has spent the last 34 years in Colorado Springs and before ge�ing into Real Estate; her focus was in the medical �eld. Stacy has three boys, all in their teens! She enjoys help-ing people �nd their new homes and she is eager to learn and excited to join the KW Family!
Sarah RudolphColdwell Banker Residential
Coldwell Banker Residential Broker-age, the leading provider of real estate services in Colorado, announced today that Sarah Rudolph has a�liated with the company as a sales associate in its Colo-rado Springs o�ce.
Prior to a�liating with Coldwell Banker Residential Brokerage, Rudolph worked at ReMax Real Estate Group as a Broker Associate. Her responsibili-ties included helping clients buy and sell homes as well as helping military �nd rentals homes.
Rudolph recently completed an inten-sive training program through Armbrust
which emphasized the principles and techniques of real estate.
Rudolph earned her Associates de-gree in Accounting from UCCS.
Priscilla TankerselySynergy Real Estate Group
I have been in the real estate business over 17 years and I believe it is impor-tant, as a consumer, to know who you are dealing with in the sale or purchase of your home.
I obtained my real estate license in 1984 while living in California. Over the past 17 years I have worked in real estate in California, Virginia, Washington State, and Colorado.
I have been selling real estate in the Springs for 10 of the past 22 years. I be-lieve my years of experience in the real es-tate business and in the Colorado Springs market will be of great bene�t to you. It is my responsibility to provide you with
the best guidance and recommendations for ge�ing the most home for your hard earned dollars as I possibly can.
Deborah MahanKirkpatrick Bank
Vice President and Mortgage Man-ager, Wayne Bland today announced the addition of Deborah Mahan to the Kirk-patrick Bank mortgage lending team. In making the announcement, Bland noted, “Deb has a unique blend of business and non-pro�t experience, as well as her ca-reer in mortgage lending, which brings a broad understanding the Colorado Springs community to the Bank.”
Ms. Mahan joined Kirkpatrick Bank in October. She was previously with Solero National Bank. A graduate of the Uni-versity of Colorado at Colorado Springs with a degree in psychology, Mahan is also working on her Ph.D. at the Uni-versity of the Rockies. Her professional
career includes executive management roles for ministries with the First Pres-byterian Church and with the congres-sional campaign for Dave Anderson. She has owned and operated her own busi-ness. Her volunteer commitments have included serving on the boards of both CASA and Colorado Springs Dance �eatre, as well as serving as a founding member and board o�cer for Kids On Bikes. Mahan also helped found and manage Bridges, a mentoring leadership program at North Middle School.
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At First American, our company is built on a foundation of integrity. We know our customers rely on us to provide them with quality service and honest results.
Lynn Donner, Vice President and Colorado State Manager of First American Title Insurance Company has announced the acquisition of Colorado Western Title, who was an agent for the underwriter. First American is proud to have the Colorado Western Title team in the First American Family in Colorado Springs. Nettie Palace, Director and Area Manager, Carmen Kolson, Branch Manger, Kim Gross, Escrow Officer, Mona Chavez, Escrow Processor, Pam Michalko, Title Examiner and Shannon Truelove and Bruce Rosell, Account Executives.
Our corporate tradition of honest and reliability translates into our daily business at First American. That’s why we look forward to continuing our tradition of providing our customers with the service and integrity they’d expect from an industry leader.
719-208-8330 | www.firstam.com6005 Delmonico Dr., Suite 178, Colorado Springs, CO 80919
Named a Top Workplacein Colorado 2014 – Denver Post
©2014 First American Financial Corporation and/or its affiliates. All rights reserved. | NYSE: FAF
First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.FA-06/2013
14 www.csrej.com Colorado Springs Real Estate Journal November 24, 2014
Local Expert
By Bill McAfeeEmpire Title—
5755 Mark Dabling Blvd., Ste 110, Colorado Springs, CO 80919
Phone: (719) 884-5300 - Fax: (719) 884-5304 WWW.ETCOS.COM
350 N. Pine St., Woodland Park, CO 80863 P.O. Box 9004, Woodland Park, CO 80866
Phone: (719) 686-9888 - Fax: (719) 686-8208 WWW.EMPIREWP.COM
Available for iPhones and iPads NOW
Download Free at the App Store under Empire Title Mobile for
immediate and easy access to mortgage and payment calculators, estimated net sheets, individual history of your opened and closed
orders, and complete property data for El Paso and Teller Counties.
Professional service for Empire Clients
Don’t like taking your own photos on your new listings, or paying someone else too much to do it for you? Contact your Empire Sales Rep for special pricing from a professional real estate photographer!
Also Totally Unique ...
Empire sure does!
Have you seen this man? When you are in need of continuing education, think of Empire Title.
We offer a huge variety of courses each month, and Bill McAfee will provide you with the most educa-
tional and entertaining 2 or 4 hours that you’ve ever been mandated to sit through. Builds strong bones!
Check our website now for current classes.
Bill McAfee’s letter to Santa
Saint Aubyn Homes turns fi ve!
With the holiday sea-son upon us, we are all writing our Christmas le� ers to Santa. I have opted to share mine with you.
Dear Santa,Despite years of receiving coal I am
very optimistic that my actions this year will probably get me a pony or at least what the pony leaves behind. Here is what I am asking for this year: I want in-terest rates that allow households with $57,000 incomes to receive low interest rates. I would ask for a market that is not over supplied and has active with buyers ready to buy. I would ask for a full head of hair and a thin waistline, sometimes I think my le� ers as a li� le benign. Some of my requests are virtually impossible to � ll, I would se� le for a personality, low interest rates, low supply of housing, ac-tive buyers, and a monkey.
I thank you for the gi� of low interest rates which you have given me for the past few years. It is amazing how every time I think that gi� is going to go away especially when central banks decided to quit purchasing mortgage backed securi-ties. In a normal world, this would have caused an increase in interest rates. How-ever, the unrest in various parts of the world has caused a signi� cant demand for our 10-year bond and note which has led to lower interest rates. I don’t mean to be sel� sh but I just want one more year of these great rates. � is will make the buyers happier than Rudolph when Cla-rice told him “I think you’re cute”. I know this made Rudolph jump into the air and � y, very similar to the same thing I did when I stepped on a rake in the sand trap.
Another thing I would like to ask for is the continued low supply of houses. � is ensures that prices will hold or grow
some which makes sellers happy. I ask that the prices don’t go up too much because the last thing I want to see on Christmas morning is Cindy Lou Who crying boo hoo because � e Grinch drove prices out of sight. Speaking of out of sight, please give us homebuyers who can purchase homes above $750,000. We have some very sad sellers in this price range because � e Grinch took the Who’s Feast, he took the Who Pudding, he took the Roast Beast. Santa, please give us jobs that will continue the de-mand for all that steering the market is the shortage at hand. � is can’t last for-ever so please make it quick, let our city shine like a candle and have a smile like St. Nick.
Please help us into next year as � e Grinch continually adds new regulations and restraints which make it so hard for the li� le dog with an antler to pull that big sleigh. Let the new closing disclosures, which will be replacing the HUD, taste more like a milkshake than an old Milk Dud. Please let our closers dance with the band, leaving hair on their heads, not pulled out by their hands. Please let the lenders navigate the landscape, as regula-tions have grown more than ten times a Grape Ape.
Santa, I am not sulking, I am going to stand straight unlike Frosty who stayed a bit too late. So I ask one more time for low interest rates, for demand and supply levels that make our real estate great. I ask for new jobs as Christmas is near, the shortages of housing will last only a year. You have been kind and thoughtful other than the coal. I am quite certain I’ll get what I want but just in case the monkey I stole.
Sincerely,Bill McAfeeGap coverage is very
important because good technology is still not foolproof.
Saint Aubyn Homes is excited to announce their � � h year anniver-sary in Colorado Springs and Northern Colorado.
“With new homes starting in the $200s and locations that run across the front range from Fountain to Northern Colorado, Saint Aubyn Homes is one of the larg-est privately held home builders in the Nation,” said Jared Saint Aubyn, President of the Colorado home building company. “We strive to o� er our home owners an irresistible home buying expe-rience that will make them happy to refer Saint Aubyn Homes to their family and friends!” he continued.
� e largest privately owned home builder in Colorado, Saint Aubyn Homes celebrated the 5th Anniversary with daily events that included sta� , trade partners,
friends and family from El Paso County and Northern Colorado.
With nearly two-dozen locations to choose from, new Saint Aubyn Homes are available in El Paso County in Flying Horse, Forest Meadows, Lorson Ranch, Meridian Ranch, Mesa Ridge, Morn-ingview and Stonewater. New homes by Saint Aubyn Homes are available in Northern Colorado in Frederick, Wind-sor, Johnstown, and Mead.
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November 24, 2014 Colorado Springs Real Estate Journal www.csrej.com 15
Around the Corner
send
eventus your
Wednesday, December 32014 Annual Commission Update1pm-5pm @ Empire Title Woodland Park719-686-9888 [email protected]
E-contracts (Beginners)9am-1pm @ Empire [email protected] 719-884-5300
HBA Holiday Party5pm-12:59 @ The Thirsty Parrotwww.cshba.com
Social Media 1019am-12pm @ Legacy [email protected]
Restorative Drying for Water Damage12:30pm-2:30pm @ Legacy [email protected]
Thursday, December 4Masterminds Networking Group7:30am-9am @ Canon National BankRSVP to David Alley, 719-632-3526 [email protected]
B.L.E.E.P. (Black Forest & Eastern Marketing Group)8:30am-10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213
NARPM Meeting (Christmas Party)5pm-8pm @ Hotel Eleganté Conference & Event Center (2886 South Circle Drive)Danielle Coke, 719-495-2247
Elevate Your Personal Brand11am-1pm @ Legacy [email protected]
Saturday, December 6Free Home Buying Seminar (for Clients)10am-12pm @ Ent (Galley Service Center)
Tuesday, December 9Home Staging 1011:30pm-4:30pm @ Legacy [email protected]
Thursday, December 11Farm and Land8:30am @ The Egg and I - Chapel HillsCharlie Triplett: 719-896-1777
Women's Council of Realtors11am-1pm @ Colo Springs Country ClubMichele: [email protected]
2014 Annual Commission Update9am-1pm @ Empire [email protected] 719-884-5300
VA Class with Mary Thorne8:30am-12:30pm @ Legacy [email protected]
Slaying God-Zillow10:30am-12pm @ Legacy [email protected]
State of the Reigion by Colorado Springs Business Alliance11:30am @ Antlers HiltonColoradoSpringsBusinessAlliance.com
Wednesday, December 172014 Contracts Class9am-1pm @ Empire Title Woodland Park719-686-9888 [email protected]
CMLA Holiday Party5pm-8pm @ The Club at Flying Horse www.CMLA.com
Thursday, December 182014 Contracts Class9am-1pm @ Empire [email protected] 719-884-5300
Friday, December 19Independent Brokers Forum9am-10:30am @ PPARwww.ppar.org
Monday, December 292014 Annual Commission Update9am-1pm @ Empire [email protected] 719-884-5300
Please note that by doing so, you give us permission to print the photo in any upcoming issue. CSREJ will never sell your photos or distribute them in any other
way besides the printed newspaper and digital online version.
Post it to Instagram or Twitter with #csrej and we could print it in our next issue.
Have a Fun Real Estate-related Photo?
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.
2015
The “Hooked on Classic” Realtor Recognition Program is back
by popular demand! 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 andget outfitted for the biggestadventure ever.
*Pricing, availability, and program terms subject to change.
Hooked On ClassicREALTOR RECOGNITION PROGRAM.
ANNOUNCING THE 2014
4% commission on base priceand qualify for the Hooked onClassic Program.
1st Closing
2nd Closing
3rd Closing
4% commission on base price + $1,000 Bonus
4% commission on base price + $2,000 Bonus
4th Closing (and beyond)
4% commission on base price + + $3,000 Bonus
Here’s how it works—by the numbers…
Program Terms and Conditions:1) Hooked on Classic 2014 Bonus Incentives will be paid
on all contracts originated between 1/1/2014 and
12/31/2014. Contracts must close to receive bonus. 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 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.
BANNING LEWIS RANCH
Sales Model – 7163 Cottonwood
Tree (80927) - 719-886-4995
MLS #6474014, The Rosewood,
6903 Tahoe Rim Dr., 4 Bed,
3 Bath, 2 Car Garage, Ranch,
3,188 sq. ft., $357,188
CARRIAGES AT INDIGO RANCH No Sales Model – Please call
for an appointment - 719-592-9333
The Surrey,7670 Matchlock Hts, 3 Bed,
3 Bath, 2 Car Garage, Ranch/Paired Patio Home,
2,670 sq. ft., $270,889
INDIGO RANCH AT STETSON RIDGE Sales Model – 7104
Mustang Rim Dr (80923) 719-574-6610
MLS #7305966, The Monarch, 6722 Silver Star Ln, 4 Bed + Loft, 2.5 Bath,
3 Car Garage, 2-Story, 4,546 sq. ft., $419,044
FLYING HORSE: THE VILLAGE OF
MESSINA Sales Model –
1528 Yellow Tail Dr (80921)
719-694-8840
MLS #758969, The Vail,
1528 Yellow Tail Dr
4 Bed, Study, 2.5 Bath,
3 Car Garage, 2-Story
3,853 sq. ft., $442,961
FLYING HORSE:THE VILLAGE OF SIENA
Sales Model –2057 Ripple Ridge Rd (80921)
719-495-7297MLS #726130, The Stanhope, 13264 Cake Bread Hts, 4 Bed,
3 Bath, 2 Car Garage, Ranch/Paired Patio Home,
2,729 sq. ft., $342,900
FLYING HORSE: THE VILLAGE OF SONOMA
Sales Model –
2057 Ripple Ridge Rd. (80921)
719-495-7297
MLS#2952136, the Paradise,
2360 Margaux Valley Way, 4 Bed
+ Study, 3 Bath, 3 Car Garage,
Ranch, 4,150 sq. ft., $589,900
PROMONTORY POINTE Sales Model –
15824 Kansas Pacific Way(80132) - 719-481-9828
MLS #9640077, The Granby II,244 Reading Way, 4 Bed,
3 Bath, 3 Car Garage, Ranch,3,489 sq.ft., $395,009
WOLF RANCH: Sales Model –
5906 Brave Eagle Dr.
719-282-1650
MLS #712584, The Vail,
6223 Leon Young Dr
4 Bed, Study, 2.5 Bath, 3 Car
Garage, 2-Story, 3,840 sq. ft.,
$378,500
MOUNTAIN SHADOWS No Sales Model –
Please call for an appointment - 719-492-2823
MLS #8279611, The Vail, 2535 Mirror Lake Ct, 4 Bed, 2.5 Bath,
2 Car Garage, 2-Story,3,443 sq. ft., $349,900
Cast Your line on
these featured
Quick Move-In Homes!
www.ClassicHomes.com/Hooked