january 30, 2012

Vol.4 No.5 www.csrej.com January 30, 2012

WCR January Luncheon

Vision Day by New Home Star

MUCHMORE

INSIDE!Ruthie Birthday Celebration

PAGE 4 PAGE 8 PAGE 10

PRSRT STDUS POSTAGEPAIDPERMIT 745 COlO SPGS CO

National News ................. Page 2Local News ..................... Page 7On the Move ................... 3Local Expert ................... Page 14Around the Corner ............ Page 15

Single-family housing starts rise 4.4 percent in December

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

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 8HELPFUL 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

December existing-home sales show uptrend

More government regulations in mortgage lending: What it means for your clientsWhen going through the

mortgage process with a cli-ent, it’s everyone’s goal – the realtor, homebuyer and the lender – to make sure the process goes smoothly and as quickly as possible. However, more and more of the mort-gage process is being regulat-ed by government agencies, which means that the process can take longer than we all would like. Mortgage regulations change frequently and lend-ers have to stay on top of – and comply with – all the new rules.

Recently, a new rule went into effect regarding appraisals. All appraisals as-

sociated with applications as of December 1, 2011, must be submitted to Fannie Mae and Freddie Mac for ap-proval before a loan can be funded. Appraisals are to be entered into the Uni-form Collateral Delivery Portal (UCDP) website and then must receive a “success-

ful” status to move forward. If there are any errors, or if the appraisal codes are put in incorrectly, the lender will need to correct them and resubmit. This new submission process is an outgrowth of the new appraisal codes and abbrevia-tions that were implemented on Sep-

tember 1, 2011, and it allows the appraisal to be evaluated in an automated manner.

The ultimate goal of Fannie and Fred-die is to collect mortgage information in a uniform format. This will provide them with a substantial amount of data to ana-

lyze in developing their mortgage criteria. While this will likely generate more con-sistency across the mortgage industry, it

By Jon PaukovichEnt—

Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above a year ago, according to the Na-tional Association of Realtors®.

The latest monthly data shows total existing-home sales rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 mil-lion-unit level in December 2010. The estimates are based on completed trans-actions from multiple listing services that include single-family homes, town-homes, condominiums and co-ops.

Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Re-cord low mortgage inter-est rates, job growth and bargain home prices are

giving more consumers the confidence they need to enter the market.”

For all of 2011, existing-home sales rose 1.7 percent to 4.26 million from 4.19 million in 2010.

According to Freddie Mac, the nation-al average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to another record low of 3.96 percent in De-cember from 3.99 percent in November; the rate was 4.71 percent in December 2010; recordkeeping began in 1971.

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said more buy-ers are expected to take advantage of market con-ditions this year. “The American dream of homeownership is alive and well. We have a large pent-up demand, and household formation is likely to return to normal as the job mar-ket steadily improves,” he said. “More buyers coming into the market mean ad-

ditional benefits for the overall economy. When people buy homes, they stimulate a lot of related goods and services.”

Total housing inventory at the end of December dropped 9.2 percent to 2.38 million existing homes available for sale, which represents a 6.2-month supply at the current sales pace, down from a 7.2-month supply in November.

Available inventory has trended down since setting a record of 4.04 million in July 2007, and is at the lowest level since March 2005 when there were 2.30 mil-lion homes on the market.

“The inventory supply suggests many markets will see prices stabilize or grow moderately in the near future,” Yun said.

Foreclosures sold for an average dis-count of 22 percent in December, up from 20 percent a year ago, while short sales closed 13 percent below market val-ue compared with a 16 percent discount in December 2010.

Yun

Veissi

Nationwide production of new single-family homes rose 4.4 percent to a sea-sonally adjusted annual rate of 470,000 units in December, according to newly released figures from the U.S. Commerce Department. This marked a third con-secutive increase and the fastest pace of single-family housing starts since April of 2010. Meanwhile, the overall number of housing starts for the month declined 4.1 percent to a 657,000-unit rate due to a 20.4 percent dip on the more volatile multifamily side.

"Today's report adds to the growing evidence that demand for new, single-family homes is finally starting to firm up in an increasing number of markets nationwide," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder

See Uptrend page 5 See Home Starts page 2

See Regulations page 6

2 Colorado Springs Real Estate Journal www.csrej.com January 30, 2012

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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.

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National News

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from Reno, Nev. "This emerging trend is allowing builders to put more crews back to work, and could be even stronger if not for the overly tight credit conditions that prevail for both builders and buyers, as well as the continuing foreclosure cri-sis and the challenges of obtaining accu-rate appraisal values on new homes. Poli-cymakers should be doing everything possible to alleviate these problems and nurture the fledgling housing recovery in order to promote job and economic growth."

"This report is in keeping with our ex-pectations for slow but steady improve-

ment in the single-family market, where production hit its lowest yearly rate in over 50 years in 2011," said NAHB Chief Economist David Crowe. "Mean-while, it should be noted that the de-cline in multifamily starts in December was coming off a dramatic increase from the previous month and simply brought that sector back closer to trend. Apart-ment production generally continues to gain strength heading into 2012 af-ter posting a more-than 50 percent gain in 2011." Looking forward, NAHB is forecasting gains of approximately 17 percent in both single- and multifamily housing production in 2012.

Combined single- and multifam-

ily housing starts fell 4.1 percent to a 657,000-unit rate in December due to the multifamily side retreating 20.4 percent from a big gain in the previous month, to a seasonally adjusted annual rate of 187,000 units. However, for the year as a whole, overall housing produc-tion was pegged at 606,900 units, which was 3.4 percent better than the overall number of starts in 2010.

Regionally, December housing starts rose 54.8 percent in the Midwest follow-ing a big decline in the previous month. The Northeast posted a 41.2 percent de-cline that offset a big gain in the previous

See Home Starts page 6

Home Starts from page 1

January 30, 2012 www.csrej.com Colorado Springs Real Estate Journal 3

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National News

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The national median existing-home price for all hous-ing types was $164,500 in December, which is 2.5 per-cent below December 2010. Distressed homes – fore-closures and short sales – accounted for 32 percent of sales in December (19 percent were foreclosures and 13 percent were short sales), up from 29 percent in Novem-ber; they were 36 percent in December 2010.

All-cash sales accounted for 31 percent of purchases in December, up from 28 percent in November and 29 percent in December 2010. Investors account for the bulk of cash transactions.

Investors purchased 21 percent of homes in Decem-ber, up from 19 percent in November and 20 percent in December 2010. First-time buyers fell to 31 percent of transactions in December from 35 percent in Novem-ber; they were 33 percent in December 2010.

Contract failures were reported by 33 percent of NAR members in December, unchanged from November; they were 9 percent in December 2010. Although closed sales are holding up better than this finding would sug-gest, contract cancellations are caused largely by de-clined mortgage applications and failures in loan un-derwriting from appraised values coming in below the negotiated price.

Single-family home sales increased 4.6 percent to a seasonally adjusted annual rate of 4.11 million in De-cember from 3.93 million in November, and are 4.3 percent higher than the 3.94 million-unit pace a year ago. The median existing single-family home price was $165,100 in December, which is 2.5 percent below De-cember 2010.

Existing condominium and co-op sales rose 8.7 per-cent to a seasonally adjusted annual rate of 500,000 in December from 460,000 in November but are 2.0 per-cent below the 510,000-unit level in December 2010. The median existing condo price was $160,000 in De-cember, down 3.0 percent from a year ago.

Regionally, existing-home sales in the Northeast jumped 10.7 percent to an annual pace of 620,000 in December and are 3.3 percent above a year ago. The me-dian price in the Northeast was $231,300, which is 2.7 percent below December 2010.

Existing-home sales in the Midwest rose 8.3 percent in December to a level of 1.04 million and are 9.5 percent above December 2010. The median price in the Midwest was $129,100, down 7.9 percent from a year ago.

In the South, existing-home sales increased 2.9 percent

to an annual level of 1.76 million in December and are 3.5 percent above a year ago. The median price in the South was $146,900, down 1.1 percent from December 2010.

Existing-home sales in the West rose 2.6 percent to an annual pace of 1.19 million in December but are 0.8 percent below December 2010. The median price in the West was $205,200, up 0.3 percent from a year ago.

© Copyright National Association of Realtors. Reprinted with permission.

February 17th, 2012

Hundreds of door prizes and give aways!

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Uptrend from page 1


National News

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can also delay the overall mortgage process. This also lim-its some lenders from being able to make manual “com-mon sense” exceptions to appraisals that might not be au-tomatically approved. However; some lenders maintain their mortgage loans and don’t sell them to third parties, which would allow them to continue to make manual ap-provals when needed.

Another factor to take into consideration with this new appraisal submitting process is cost. There is a cost associated with running appraisals through the UCDP, and this cost will be passed on to the borrower in most cases. Buyers need to be made aware of the added time and cost for this new rule upfront; that way they will have accurate expectations.

In our industry, we are accustomed to change. Hous-ing markets, loan products and government regulations change frequently and we all have to make the appropri-

ate adjustments. One of our most important jobs is to keep the lines of communication open with our clients. Realtors and lenders are on the same team and we have the same goals – to make sure the home buying pro-cess goes as smoothly as possible. There are many fac-tors in our business that are beyond our control, but a good lender will work hard to stay ahead of the curve and make sure your clients have all the latest informa-tion they need when buying a home. When realtors and lenders work together to clearly understand and com-municate changes to our clients, we can assure they have a positive experience - with well managed expectations -from start to finish.

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

month, while the South and West also posted declines of 3.0 percent and 17.6 percent, respectively.

Permit issuance, which can be an indicator of fu-ture building activity, held virtually flat at a 679,000-unit rate in December. Single-family permits rose for a third consecutive month, by 1.8 percent to 444,000 units, while multifamily permits declined 3.7 percent to 235,000 units.

Regionally, permits rose 5.8 percent in the Mid-west and held unchanged in the West, but declined 6.5 percent in the Northeast and 0.6 percent in the South in December.

The above article has been provided to you compliments of NAHB and Nation’s Builder News.

Regulations from page 1 Home Starts from page 2


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Local News

Residential rental market remains strongBy Jerry Lundberg, CEO and Managing BrokerMountainPeaks Real Estate

We have been hearing for quite some time that the apartment vacancy rate is very low, pushing up average rental rates. The residential home market is no excep-tion, but because it is a fragmented market comprised largely of homeowners displaced by employment trans-fers and individual investors, published data is difficult to come by.

During the majority of the year, homes in most price ranges are leased within 30 days if priced properly. The number of available active residential rental properties is low in the majority of neighborhoods.

I have extracted data from the Pikes Peak MLS. For the MLS market as a whole, total leases are up 72% since 2005, aver-age square footage per unit rented is up 35%, and rental rates are up 23%. Interesting enough, the average rent per square foot is actually down since 2005. As you can see from the data below however, this statistic will show increases as well as decreases in different neigh-borhoods. I have selected just three neighborhoods that highlight the market.

Based on information from the Pikes Peak REAlTOR Services Corp. ("RSC"), for the period January 1, 2005 through December 31, 2011. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.

A major change from the past is the length of leases, and the number of lease renewals in the market. Ap-proximately 50% of our new leases are written for more than one year. This increases as you get into the luxury home market. Rentals above $2,000 per month are very common now, as these homes generally have lost very significant market value. Most owners with quality cred-it and net worth are unwilling to sell in today’s market.

Many homeowners we speak to about managing their homes express deep concern about poor tenant mainte-nance of their home. Many have heard stories passed on by others. Although this concern is understandable, it is statistically rare given the quality of available tenants in the current real estate rental market.

Today’s tenants have in large part moved here for their employment, military or otherwise. For rentals of $1500 or more per month, they usually are or have been homeowners, having just sold a home or leasing their own home. They have not gone through a short sale or foreclosure. Hence they have high credit scores and a high level of income.

The proper screening of prospective tenants will keep financial and maintenance risk low for homeowners

desiring to lease their home. We use a service that not only has the ability to check credit scores and previous criminal background, but uses seven scoring categories related to employment, residency, income and debt ra-tios, collections, and judgments. We receive a complete detail of previous and current debt.

The residential rental market is a landlord’s market, providing a quality alternative for homeowners that must relocate but wish to hold their investment without damaging their credit.

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Local News

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The Housing & Building Association of Colorado Springs is pleased to an-nounce the addition of veteran govern-ment relations executive William Mutch as the Director of Government Affairs and Public Policy.

Mutch brings over fifteen years of government relations and political experience to the position. His background includes government relations work with the Home Builders Association of Metropolitan Denver as well as previously holding the Government Relations position with the Colorado Association of Home Builders.

William’s career has ranged from handling legislative is-sues for Colorado Senate President John Andrews, manag-ing press and communications for former Colorado Con-gressman Bob Schaffer, as well as campaign and District Director responsibilities for former Colorado Congressman Tom Tancredo.

Mutch was also the Executive Director for the pro-busi-ness association Colorado Concern for three years, before moving into finance and working in public finance invest-ment banking for Piper Jaffray, and also held a financial posi-tion with Morgan Stanley Smith Barney.

He holds a B.A. in Political Science from the University of Montana, and a Master’s in Public Administration from the School of Business and Public Management at the George Washington University.

“We are extremely excited to have William joining our team. His background and experience will, without question, elevate the HBA’s already effective regulatory, political, and policy sec-tion. The extensive search to find the right person has been well worth the journey. We have found an enthusiastic and effective advocate for our members whose primary mission is to provide the dream of home ownership in the Colorado Springs commu-nity!” said Renee Zentz, Chief Executive Officer of the Hous-ing and Building Association of Colorado Springs.

William Mutch named Director of Government Affairs and Public Policy

VISION DAy 2012 By NEW HOME StARJanuary 10, 2012

Left: Steve Wells with New Home Star, Ricardo Gomez with Colorado StateBank and Trust, Jason Rose with Creekstone Homes, Paul Collins, Chad Dewey, and Ron bell with New Home Star.

Above: Linda Richie with RE/MAX Properties, Rhonda Todd with Wells Fargo Mortgage, Greg Tomlingson, and Jessica Parrish with New Home Star.

Above: Rich List with Cherry Creek Mortgage, John Wilson with Pink Realty, and Greg Tucker with New Home Star/Challenger Homes.

See more on facebook!facebook.com/csrej


Local News

VIP Mortgage, Inc. purchases Citywide Home Mortgage in Colorado Springs

Dawn White and Michele Van Metre receive awards from WCR

Courtney Kline, Branch Manager, is pleased to announce that VIP Mort-gage Inc. has purchased the Colorado Springs branch of Citywide Home Mortgage. With nearly 100 years of combined expertise, the loan officers at VIP Mortgage (Courtney Kline, Ever-ett Nordby, Tammie Van Deusen, Tom Huxtable, and Becky Stewart Hunt) of-fer their clients a true VIP experience that is grounded in trust, knowledge, experience, and reliability.

“In today’s highly impersonal and

competitive world of large corporate mortgage lenders, VIP Mortgage is a small ship in a big ocean!” said Kline. “What this means to our VIP clients (Re-altors and consum-ers) is that our loan officers have the ability to be more effec-tive and easily navigate our valued cus-tomers through the home loan process.”

VIP Mort-gage Inc. offers clients extensive experience and exceptional pric-ing on Conven-tional mortgages (conforming and Jumbo); V.A. mortgages; FHA

mortgages; USDA loans tailored for out-lying areas; FHA 203k mortgages which permit homebuyers to finance up to an

additional $35,000 into their mortgage to improve or upgrade their home before move-in; and FNMA’s Homepath mort-gages which allow buyers to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance.

For information on VIP Mortgage, Inc. or to speak with a loan officer, visit our offices located at 7660 Goddard St., Suite 100, call 719.323.6190, or online at www.vipmtginc.com.

The Pikes Peak Women’s Coun-cil of Realtors has named well-recog-nized Realtor and community leader, Dawn White as Realtor Member of 2011. Recognized for her outstand-ing contributions to the industry and the organization, White is a licensed Real-tor with Keller Williams. White is also the 2010 recipient of the PPAR EXTRA MILE AWARD and a graduate of Regis University. She is a member of the Colo-rado Springs Peak Producers, a board member of the Housing and Building Association of Colorado Springs, and the 2012 President of the Pikes Peak Kiwanis Club.

White can be reached at [email protected] or at 719. 271.8889

The Pikes Peak Women’s Council of Realtors has named Michele Van Me-tre, Governmental Affairs Assistant at the Pikes Peak Association of Realtors and WCR Liaison to PPAR as Affiliate Member of 2011. Recognized for her outstanding contributions to the Wom-en’s Council of Realtors, Van Metre has been with the PPAR since 2001 and in-strumental in the overall success of both organizations.

Van Metre can be reached at [email protected].

White

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let usnews?

knowemail:

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RUtHIE LOHRIG-KLINE CELEBRAtES HER 60tH BIRtHDAyJanuary 7, 2012

Our Colorado Springs Real Estate Community helped Ruthie Lohrig-Kline of Unified Title celebrate her 60th Birthday. Can you tell who is who?

Happy 60th

Birthday, Ruthie!


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]

Service ▪ Strength ▪ Stability

Wednesday, February 1

Class: 2012 Annual CREC Mandatory Update Time: 8:30 a.m. - 12:30 p.m. Instructor: Tony Marietta Location: Fidelity National Title Company 1277 Kelly Johnson Blvd., Suite 100 • Colorado Springs, CO Cost: $20.00 CE Credits: 4 hours Thursday, February 2 Class: 2012 Annual CREC Mandatory Update Class Time: 8:30 a.m. - 12:30 p.m. Instructor: Tony Marietta Location: Fidelity National Title Company 150 Morning Sun, Suite 100 • Woodland Park, CO Cost: $20.00 CE Credits: 4 hours Wednesday, February 15 Class: Public Lands, Rights of Way; Mineral Issues and Mineral Protection for the Buyer Time: 8:30 a.m. - 11:30 a.m. Instructor: Ron Childs Location: Fidelity National Title Company 1277 Kelly Johnson Blvd., Suite 100 • Colorado Springs, CO Cost: $20.00 CE Credits: 3 hours Thursday, February 23 Class: Colorado Probate Process and “The Boomer” Generation Time: 8:30 a.m. - 11:30 a.m. Instructor: Ron Childs Location: Fidelity National Title Company 1277 Kelly Johnson Blvd., Suite 100 • Colorado Springs, CO Cost: $20.00 CE Credits: 3 hours Thursday, March 8 Class: NAR Ethics Update (The National Association of REALTORS® requires all members to take a quadrennial Ethics Update course) Time: 8:30 a.m. - 12:30 p.m. Instructor: Tony Marietta Location: Fidelity National Title Company 150 Morning Sun, Suite 100 • Woodland Park, CO Cost: $25.00 CE Credits: 4 hours

R.S.V.P Today:

(719) 268-0376 or [email protected]

Call Jerry Lundberg at 719-661-7168 Or email résumé to

[email protected]

Want to Sell Real Estate and Manage Property as well? WE CAN HELP!

Our “Agent-Based” Property Management System:

•Agent Lists, Shows, and Manages only •Company provided Trust Accounting •Company provided Lease Administration •Established Quality Niche in the PM Market •High Commissions on Sales •No Franchise Fees •No Monthly Fees

P r o f e s s i o n a l s Realty Group USA (ProsUSA), a na-tional real estate franchising com-pany, awards fran-chising rights to Professionals Realty Group Colorado Springs, formerly called Masters Real Estate Group, LLC.

The conversion became formalized on January 1, 2012. The real estate bro-kerage has 82 licensed real estate agents and nearly 200 listings in the Colorado Springs market area. Professionals Re-alty Group Colorado Springs is the No. 1 non-affiliated real estate brokerage in Colorado Springs for size and No. 2 for volume with approx. $3 million in gross commission sales this year.

“I chose to align with Professionals Realty Group USA because the brand embodies the same core values that I be-lieve in – fostering a culture of collabo-ration and belonging, while infusing my brokerage with powerful technology to further support our agents’ productiv-ity,” says owner Steve Aragon.

ProsUSA is the sister-company of Australian-based Professionals Real Es-tate Group, an organization founded in 1976 which has a global network of more than 350 offices throughout Aus-tralasia. CEO Glyn Morgan and Presi-dent Glenn Melton led the expansion of the brand into the U.S earlier this year.

“We are honored to have Steve and his team of real estate agents join Profes-sionals,” says Scott Hurlock, senior vice president of franchise development for ProsUSA. “They represent the same old-fashioned, new world approach to real estate that our brand stands for nation-ally and abroad.”

Aragon, a Colorado-native born and raised in Denver, opened his brokerage in 2007 at the height of a dynamic hous-ing climate. “Real estate has been pick-ing up in Colorado Spring and, while the market slowed down the last couple of years, we never experienced the same decline as some other areas nationally because our military bases - Airforce Academy, Shrever AFB, Fort Carson, Norad, and Peterson – created stabiliza-tion with jobs,” he comments.

The brokerage’s real estate agent pop-ulation grew quickly and Aragon credits “offering a business model to agents that does not penalize them for being pro-ductive.” New technology available to agents include Mobile Lead Pro, a mo-bile technology, Wordpress 3, websites with built-in search engine optimiza-tion, and i-Dashboard, an advanced on-line transaction and CRM tool.

For more information on Profes-sionals Realty Group Colorado Springs, visit www.springsmlslistings.com or call (719) 457-9200. For more information about Professionals Realty Group USA, visit www.ProfessionalsRealty.com or call (480) 374-1260.

Masters Real Estate Group converts to Professionals Realty Group Colorado Springs

Aragon


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Visit www.MeridianRanch.com & Discover Why People

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On the Move

Steve tooheyMerit Co., Inc.

As a retired Army Officer who under-stands the pressures of military moves, I can help you find the right home for your budget and help you become famil-iar with Colorado Springs. After many military moves, my family decided to stay in Colorado Springs because of the beauty and great four-season weather. My wife of 17 years and 2 boys enjoy the outdoors and ski, snowboard, fish, hunt, hike, and run. We believe that there is no better place than Colorado to participate in such a wide range of outdoor activi-ties. I also have a passion for real estate and have been an active investor in land and single family properties for over 10 years. Whether your interest is a home, income property, mountain land, or a cabin/weekend retreat, I am confident I can help you find the property that meets your needs.

Mindy Gasparek and Deb GerdinRE/MAX Properties

We are thrilled to have our talented broker associates grow in number -- Two agents have joined our ranks.

Mindy will be working out of our South Office. She is our newest member of the Intern Program.

Deb will be working out of our South Of-fice as a team member with Dianna Doyle.

Mike FogelColdwell BankerResidential Brokerage

Mike Fogel, an accomplished business professional, has joined Coldwell Bank-er Residential Brokerage in Colorado Springs as a broker associate. Fogel is now serving the diverse real estate needs of clients throughout the greater Colora-do Springs area, including Tri Lakes and Black Forest.

Fogel is a member of the Pikes Peak Association of Realtors and the Na-tional Association of Realtors. He chose Coldwell Banker Residential Brokerage because of the warm, honest approach of the company’s managing brokers and support staff, high profile brand recogni-tion, and excellent marketing programs.

“We are pleased to welcome Mike to our experienced, professional real estate team,” said Zane Whitfield, managing broker for Coldwell Banker Residential Brokerage in Colorado Springs. “His family values, coupled with a sincere, honest approach to business, will help advance his career in the highly competi-tive real estate industry.”

Prior to pursuing a career in real estate, Fogel held a position in the audio visual industry with a targeted focus on wire, fi-

ber optic, and other related components. He is a member of the Walden HOA so-cial community and enjoys all outdoor activities, including skiing and hiking. Fogel is also an accomplished musician.

Jenny NearyCampbell Homes

Locally owned Campbell Homes is pleased to announce that top perform-ing new home sales professional, Jenny Neary has joined the Campbell Homes team as Community Sales Manager for their highly successful new home com-munity in Cordera.

With an extensive background in new home sales and a customer first philoso-phy, “Jenny is a talented new home sales professional who brings a great expertise, energy, and enthusiasm to our team at Campbell Homes!” said Randy Deming, CEO of Campbell Homes.

Neary will be responsible for the daily management and community sales for all Campbell Homes in Cordera. The Campbell Homes model in Cordera is lo-cated at 4883 Steamboat Lake Court and open daily till 5 p.m. For additional infor-mation on new Campbell Homes start-ing in the mid $300s in Cordera, contact Neary at 719-282-9250 or by email at [email protected].

Alphie HutmacherColdwell BankerResidential Brokerage

Alphie Hutmacher, a leading real es-tate professional with Coldwell Banker Residential Brokerage in Colorado Springs, has earned the Senior Real Es-tate Specialist (SRES) designation from the National Association of Realtors.

Hutmacher earned her real estate li-cense in 2006 and has garnered several prestigious awards during her career. She is a USAA Relocation Specialist and member of REALTAC, an organi-zation of real estate professionals com-mitted to supporting and serving the Pikes Peak region. Hutmacher is an REO Specialist, a CARTUS Certified Relocation Specialist, and is certified by the Department of Housing and Ur-ban Development.

Hutmacher successfully lobbied for more than eight years for the construc-tion of a city recreation center at Cotton-wood Creek Park in Colorado Springs. She has served as assistant campaign coordinator for School District 11 and School District 38 ballot initiatives. Hutmacher was the assistant coordina-tor for School District 11’s Open Book Program and is a volunteer coordinator for multiple campaigns and non-profit organizations.

Announcing the Conversion of Masters Real Estate Group to

Professionals Realty Group Colorado Springs!

Professionals is a Star Shaped Peg in a Real Estate World of Round Holes!How are we different?

“Stop paying 6-8% franchise fees and start benefiting from powerful systems and technology and, maybe even more

importantly, a culture of collaboration and belonging.” – Steve Aragon

“We still believe in old-fashioned values of traditional relationship building, but we are infusing our real estate brokerage with a new world approach with powerful technology to increase our agents’ productivity,” states Stephen Aragon, Broker/Owner of Professionals Realty Group / Colorado Springs.

Pay only $300 per month, work from home and receive all of this and more by joining Professionals Realty Group / Colorado Springs:

Mobile Lead Pro: Mobile lead capture allows you to deliver real-time property information

Wordpress 3: Flexible and customizable websites with built-in search engine optimization (SEO)

i-Dashboard: Advanced online transaction and CRM tool with integrated marketing and lead generation

Contact us today for more information at 719-457-9200

⇒ ⇒ ⇒ ⇒ ⇒

⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒ ⇒

"Like" us on facebook.com/csrej


Michael J. PodoyakEmpire Title—

2011 YTD vs. 2010 YTD• Average Price 4.6%• Median Price 4.5%• Residential Units Sold 3.5%• Inventory Levels 9.5%• Number of Listings 16.1%• Foreclosures 25.4%• Interest Rates are at historic lows

Local Expert

By Michael J. Podoyak, Marketing ManagerEmpire Title of Colorado Springs, LLC

You’ve made your way to the back of this issue of the Real Estate Journal, and you’ve ended up here: the Tail-End Year-End Review! Now with 2011 officially behind us, is there evi-dence that we’ve already seen the bottom? I believe the following data proves it, but I’ll let you be the judge of that.

The number of listings in the Pikes Peak region is currently at its lowest point since before 2003. Our average number of active listings over the previous twelve months is finally getting back to the 4,000 unit range that we were accustomed to in the glory days of 2003—2005. Compare that to the twelve-month average of 6,300 listings in the Spring and Summer of 2008! Right now there are less than half the number of listings on the market than there were in July and August of 2007. That lower selection may be helping to stabilize prices, especially in homes priced below $250,000.

When the number of sales remain steady while the amount of listings on the mar-ket drops, the ratio of sales as a percentage of active listings increases. That figure last month for December 2011 reflected the highest percentage since August 2006.

The percent of sales based on price comes as no surprise: these figures have barely fluctuated throughout the entire year. Units in the price ranges from $100K to $400K have accounted for about 76% of all sale transactions in 2011. Again last month, there were less than four months of inventory for properties priced below $200K - and only 4.37 months of inventory for proper-ties priced $200K to $250K. Inventory in number of months is at its lowest overall average since March 2006.

Most of the leading indicators are starting to point in the right direction for 2012 to be a Happy New Year in-deed. Don’t discount the fact that the total residential units sold in 2011 was up 3.5% from the year before. Remem-ber: 2010 had a major homebuyer tax credit in place at the time, yet we’ve still seen gains since. Also, local foreclosures dropped significantly last year, which is certainly a positive sign for everyone.

So, as you look ahead to this year, make it your resolution to leave behind the pessi-mism of the past. May each of you enjoy much more prosperity, success and happiness through 2012 - no ifs, ands or butts about it.

Look ahead, not behind


Wednesday, February 12012 Annual CREC Mandatory Update8:30am – 12:30pm @ Fidelity National TitleRSVP: (719) 268-0376 or [email protected]

HBA Annual Awards Reception3pm – 5:30pm @ Antlers Hiltonwww.cshba.com

Thursday, February 2Masterminds Networking Group7:30am – 9am @ Canon National BankRSVP to David Alley, 719-632-3526 [email protected]

2012 Annual CREC Mandatory Update8:30am – 12:30pm @ Fidelity National Title Woodland ParkRSVP: (719) 268-0376 or [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

Friday, February 3Ent Ski Bus to Keystone6:30am – 4pm @ Heritage Title CompanyInfo: Margaret Benjamin, (719) 550-6998 or [email protected]

Pikes Peak Exchangors8am – 9:30am @ Valley High Country [email protected]

Wednesday, February 8The Estimator10am – 12pm @ Empire Title Woodland [email protected] 719-884-5300

The Estimator2pm – 4pm @ Empire [email protected] 719-884-5300

Thursday, February 9Farm and Land8am – 9:30am @ Maggie Mae'sLarry Prewett: 719-332-0592

2012 New Contract8:30am – 12:30pm @ Cordera Comm [email protected] 719-884-5300

Tri-Lakes Marketing Forum8:30am – 10am @ Inn at Palmer DivideKim Rossbach: 719-534-7444

Women's Council of Realtors11:30am – 1:30pm @ Embassy Suites HotelRenate Carrier, 888-313-5928

Lease Options Lunch and Learn11:30am – 1pm @ Unified [email protected], 719.955.7084

Friday, February 10Independent Broker Forum9am – 10am @ PPARRosana Ramponi: [email protected]

2012 CREC Update Course9am – 1:30pm @ DeVry UniversityRich Feasel: 719-482-4755 [email protected]

Wednesday, February 15Public Lands, Rights of Way; Mineral Issues and Mineral Protection for the Buyer8:30am – 11:30am @ Fidelity National TitleRSVP: (719) 268-0376 or [email protected]

2012 New Contract9am – 1pm @ Empire Title Woodland Park [email protected] 719-884-5300

Thursday, February 16Pikes Peak Marketing ForumPitch Your Listing8am – 9:30am @ Colo Springs Country ClubRuthie, 719.492.3998

National Speaker Rick GeHa8:30am – 1:30pm @ Mr Biggs Event Center [email protected] 719-884-5300

Beginner CTM eContracts10am – 12pm @ Wells Fargo Dwtn 2nd FloorRich Feasel: 719-482-4755 [email protected]

Out of the box Social Media!1pm – 3pm @ Unified [email protected], 719.955.7084

Friday, February 17HBA Breakfast w/the Builders8am – 11am @ Mr Biggs Event Centerwww.cshba.com

Sunday, February 19Reunion Homes Grand Opening BBQ12pm – 3pm @ Mesa RidgeRSVP: (719-271-1911)

Tuesday, February 21BPO-REO Recertified9:30am – 5pm @ DeVry University719-482-4755 [email protected]

NARPM Meeting11am – 1pm @ Clarion Hotel (314 W. Bijou)Porsche Harvey, 599-9664

How to Successfully Sell HUD Homes!1pm – 3pm @ Ent FCU (Campus Dr)[email protected], 719.955.7084

Wednesday, February 222012 New Contract12pm – 4pm @ Empire [email protected] 719-884-5300

Thursday, February 23Farm and Land8am – 9:30am @ Maggie Mae'sLarry Prewett: 719-332-0592

Mandatory Commission Update8:30am – 12:30pm @ Empire [email protected] 719-884-5300

Colorado Probate Process and “The Boomer” Generation8:30am – 11:30am @ Fidelity National TitleRSVP: (719) 268-0376 or [email protected]

Microsoft Outlook “Get your Inbox to Zero”1pm – 3pm @ DeVry [email protected], 719.955.7084

Friday, February 242012 Contract Changes9:30am – 12:30pm @ DeVry UniversityRich Feasel: 719-482-4755 [email protected]

Monday, February 27New Contracts w/Oliver Frascona9am – 12pm @ Ent FCU (Campus Dr)[email protected], 719.955.7084

Around the Corner

* Events subject to change. Due to space, please check with event/class holders early for more detailed information including cost and registration dates. Email events to [email protected]

Up to $30,000 in Design Center Credits

719.314.2120 • www.ggclub.com/realtors • [email protected] Center Open 9:00 am - 5:00 pm Daily

•For new to-be-built homes - 3% commission on the price of the homesite and base price of the home at the homesite closing, NOT at the end of construction (Premier Program)

•Your Buyers will receive design center credits up to $30,000 AND a membership at Garden of the Gods Club to enjoy - 27 Holes of Golf • Sports Club • Tennis Center • Recreation Center & Pool Spa • Dining • Fun events and parties

•Prestigious West Side location with spectacular views and close to everything

•Nine Exceptional Floorplans in Gated Neighborhoods from $438,000 to $2,000,000

Commissions on our 4 homes under

construction -or- Quick Commissions on

To-Be-Built Homes!

4%

you can have it all here

2012 Hooked on ClassicRealtor Recognition ProgramFor a limited-time, you can earn 5% Commission on select inventory homes andqualify for the 2012 Hooked on Classic Realtor Recognition Program. If you’re alreadya “Hooked On Classic” Realtor, sweeten your commission and improve your bonusrankings! � e 5% base price commission is valid on select inventory below.

HOOKED ON CLASSIC PROGRAM

How it works by the numbers…1st Closing—Qualifi es for the Hooked on Classic Program2nd Closing—$1,000 Bonus3rd Closing—$2,000 Bonus 4th Closing and beyond—$3,000 Bonus

Announcing...

Program Terms and Conditions:Hooked on Classic 2012 Bonus Incentives willbe paid on all contracts written between 1/1/2012 and 12/31/2012 and closed 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 off ered on an individual REALTOR basis, team/offi ce sales are not cumulative and do not qualify. 6) All incentives will be awarded to the individual agent listed on the contract. 7) Program subject to change without notice. 8) � e 5% of base price commission ILO 4% of base price is eligible only for the homes listed on this fl yer and must originate between 10/9/2011 and 3/15/2012 and close by 3/30/2012.*Pricing and availability subject to change.

Banning Lewis Ranch —(719) 886-4995 • June Mieras-Hall & Anita Howarth

8047 Silver Birch, 80927 Rushmore $ 239,000 November 2011

2708 sqft • MLS 540252 Beds: 4 Bath: 2.5 Garages: 2

Barnstormer’s Landing—(719) 390-6200 • Teresa Smith & Jenna � ompson

3469 Spitfi re Drive, 80911 Rushmore $ 239,900 NOW!


Indigo Ranch at Stetson Ridge—(719) 574-6610 • Carolyn Crowley & Becky Wilson

7844 Renegade Hill, 80923 Rushmore $ 268,098 NOW!


Carriages at Indigo Ranch—(719) 574-6610 • Becky Wilson & Carolyn Crowley

7654 Derringer Point, 80923 Landau $ 285,900 NOW!


Carriage Point West at Jackson Creek—(719) 481-9828 • Stephanie Davis & Craig Esterle

487 Whistler Creek Ct., 80132 Manzanita $ 324,900 NOW!

3248 sqft • MLS 745464 Beds: 5 Bath: 3 Garages: 2

Encore at Flying Horse—(719) 495-7297 • Diane Sullivan, Tina Loncar, Anita Howarth

13010 Penfold Drive, 80921 Ovation $ 434,900 NOW!


Th e Village of Saratoga at Flying Horse—(719) 495-7297 • Tina Loncar & Teresa Pacheco

1142 Spectrum Loop, 80921 Paradise $ 374,269 NOW!


SOLD

SOLD

SOLD

january 30, 2012

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