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Vol.2 No.5 www.csrej.com January 25, 2010
Chicago TitleNew Years Kick Off
HBA MembershipAfter Hours
WCRLuncheon
PAGE 4PAGE 2 PAGE 8
PRSRT STDUS POSTAGEPAIDPERMIT 745 COlO SPGS CO
National News ................. Page 2Local News ..................... Page 9On the Move ................... Page 13Local Expert ................... Page 14Around the Corner ............Page 15
Realtors see a decade of dramatic developments
Eye on the Economy: A happier new year for housing, but...
2000 20102005
Pending home sales down from surge but higher than a year ago
The New
CSREJ.com Reserve this front page ad. Call Rachelle. 205-1299
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Yun
At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale mar-keting methods were yard signs, newspa-per ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes.
“The real estate industry has seen tre-mendous change and evolution over the past decade,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “As the first,
best source for real estate information, Realtors® have not only anticipated and adapted to the evolving needs of their clients and customers, but also have in-fluenced industry trends and innovations that will carry us into the future.”
In 1999, buyers who went online in search for a home were in the minor-ity – only 37 percent of buyers used the Internet in their home search, according to data from the NAR Profile of Home Buyers and Sellers. Today, 90 percent of buyers are searching online, and the real
estate industry has responded. Sites like REALTOR.com, which attracts nearly 12 million total visits every month, have evolved to gives today’s buyers what they want – not just property listings, but multiple photos, online videos, mapping features, and comprehensive neighbor-hood information, as well.
Median home values over the past decade have increased more than 25 per-cent, from $137,600 in November 1999 to $172,600 in November 2009 (the most recent existing-home data avail-
able). Fewer people are buying detached, single family homes – 82 percent in 1999 compared to 78 percent in 2009 – but more people are buying homes in subur-ban neighborhoods – 46 percent in 1999 compared to 54 percent today.
Buyers themselves have also changed. A smaller proportion of married couples are buying homes these days; while mar-ried couples comprised 68 percent of all home purchases at the beginning of this
1999: Only 37% of buyers used the internet in their home search
2005: Sub-prime mortgages skyrocket
1999: Realtors use yard signs, newspaper ads to market their listings
2010: Now 90% of buyers use the internet for their home search
2008: Realtors use Facebook, Twitter to market their listings
Contract activity for pending home sales fell after a surge of activity in preceding months to beat the origi-nal deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in November, fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008 when it was 83.1.
Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we
By David Crowe, NAHB Chief Economist
This year promises to be a happier one for both the economy and housing. More pain from a battered and bruised U.S. economy may lie ahead but the general trajectory has turned from down to up.
The worst is over, but the economy and housing in particular will remain subpar and unable to perform at normal, healthy levels.
Looking into our crystal ball for 2010, we see a long haul back to full health following a long, brutal recession. The national economy will continue to gain strength throughout the year, but at a slower pace than is charac-teristic for the early stages of recovery.
Real (inflation-adjusted) gross domestic product (GDP) is expected to grow about 3% in 2010, compared to essentially no growth (0.4%) in 2008 and negative growth (an estimated decline of 2.5%) for 2009.
While this year’s relatively sluggish growth will be suf-ficient to produce gains in employment, the pre-reces-sion employment peak won’t be reached for some time
and the unemployment rate will languish at an unaccept-ably high level.
Coming off an estimated modern historical low of 555,000 total starts in 2009, housing production should rebound by about 25% this year to just under 700,000 units, according to NAHB projections. There is certainly a measure of good news in this forecast, but it hardly rep-resents a return to normalcy.
Based on demographics and other factors, an annual average of 1.8 million housing starts will be needed over the next 10 years and 2010 starts are not likely to provide even half of what is needed.
Improvements in residential construction this year will be largely concentrated in single-family construc-tion. Builders successfully reduced their inventory of new single-family houses in 2009 to levels last seen in 1971 — for a population that has grown by 80% since that time.
NAHB is forecasting just over 600,000 single-family starts in 2010, up from an estimated 440,000 starts in
Crowe
See New Year Forecast page 5 See Pending Sales page 3
See Decade page 2
2 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
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century, they represent 60 percent of all buyers today. Single men and women have made up the difference – single men purchased 10 percent of all homes last year, compared to only 7 percent 10 years ago. Single women now represent more than one-fifth of all home buyers – 21 percent, up from 15 percent in 1999.
Other things haven’t changed. The median age for
home buyers last year was 39, just as it was in 1999. Neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for both past and present buyers. And eight out of 10 re-cently surveyed consumers believe that owning a home is an investment in their future.
“Realtors® have been around for more than 100 years, but one constant during that time has been the persis-tence of homeownership as the American Dream,” said
Golder. “As the first decade of this century comes to a close, NAR stands ready to meet the many challenges and opportunities that lie ahead by helping our Realtor® members better serve their clients and communities and ensuring that those dreams of homeownership remain possible for all who want to achieve it.”
© Copyright National Association of REAlTORS. Reprinted with permission.
View the Paper Online, Anytime. CSREJ.com
Decade from page 1
January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 3
Director of AdvertisingRachelle Nardo
Director of PublishingJosh Olson
Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colo-rado Springs, Colorado. CSREJ is published once a month and dis-tributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Build-ing Association and many other industry-related professionals.
CSREJ is not responsible for any opinions or facts expressed by non-staff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content.
Realtor® is a registered trade-mark. Sometimes the word Re-altor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The reg-istered trademark should be as-sumed if it is not present.
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Article Submission•Please submit articles no lon-ger than 700 words in a Word document with an accompa-nying byline and appropri-ate contact information. A headshot is also welcomed. Please submit headshot in JPG format.
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see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are com-fortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take ad-vantage of affordable housing conditions before the tax credit expires.”
Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to fi-nalize the transaction to qualify for the tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
The PHSI in the Northeast dropped 25.7 percent to 74.4 in November but is 14.7 percent above a year ago. In the Midwest the index fell 25.7 percent to 82.0 but is 9.2 percent higher than No-vember 2008. Pending home sales in the South fell 15.0 percent to an index of 97.8, but are 14.7 percent higher than a year ago. In the West the index declined 2.7 percent to 124.6 but is 21.4 percent above November 2008.
Yun projects an additional 900,000 first-time buyers will qualify for the ex-tended tax credit in addition to about 2 million who have already purchased; 1.5 million repeat buyers also are expected to benefit from the credit.
“Many trade-up buyers, who have his-torically timed their purchase based on school-year considerations, will have to accelerate their buying plans if they need the tax credit to make a trade,” Yun said. Repeat buyers do not have to sell their existing home to qualify for the credit, but they must occupy the home they buy as their primary residence.
Yun added that mortgage interest rates cannot remain at rock-bottom levels for a sustained period and will likely inch higher in 2010. But the tax credit impact in the first half of the year and expected job growth impact in the second half will support home buying activity and absorb enough inventory to bring a rough bal-ance between buyers and sellers. Home prices are expected to stabilize or even modestly rise as a result in 2010.
© Copyright National Association of REAlTORS. Reprinted with permission.
Pending Sales from page 1
4 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
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2009. In a normal market, we would be constructing 1.5 million single-family starts on average yearly.
Although multifamily housing activity should stabi-lize and improve by the end of 2010, it will be slower than in 2009, with starts declining from an estimated 112,000 last year to an even lower 87,000.
Difficulty in obtaining financing for condos and apart-ments remains a major stumbling block to new projects, followed closely by historically high vacancy rates that are expected to ease up by the second half of the year, though not by much.
Housing Data Continue to Be Uneven
Existing single-family home sales showed their third month of improvement in November, rising to a season-ally adjusted annual rate of 5.77 million. This was the highest monthly sales figure since the 5.87 million re-ported in April 2006.
However, since existing home sales are based on set-tlements that do not capture new contracts but rather reflect sales agreements from earlier months, many of the November sales resulted from pressure on buyers to close by the end of that month to qualify for the then expiring first-time home buyer tax credit. (The tax credit has since been extended into 2010 and expanded to in-clude repeat home buyers. See www.FederalHousing-TaxCredit.com for details.)
After this burst of activity, it was not surprising to see the National Association of Realtors® (NAR) Pending Home Sales index, which is based on the acceptance of new sales agreements for existing homes, fall 16% in No-vember. Even so, the index was 15.5% higher than the same month a year earlier, a hopeful sign that housing has turned the corner and that the extension and expan-sion of the tax credit is having some early, positive ef-fect.
Similarly, new home sales, which are based on signed contracts with a deposit, fell in November to a season-ally adjusted annual rate of 355,000, their lowest level since April 2009. That was down 11.3% from October’s 400,000 and 9.0% below the 390,000 sales pace one year earlier.
New Year Forecast from page 1
See New Year Forecast page 7
As Congress moves to craft a final health care bill in the coming weeks, NAHB is leading the fight with other like-minded business groups to strip a jobs-killing pro-vision in Senate legislation H.R. 3590 that would derail the fragile housing and economic recovery by placing a major financial burden on builders. The measure was approved by the Senate on Christmas eve by a 60 to 39 vote.
Language offered by Sen. Jeff Merkley (D-Ore.) and slipped into the Senate health care legislation at the last minute unfairly targets small construction firms with more than five workers by requiring them to provide health care coverage or face stiff fines. Meanwhile, small businesses in all other industries would be exempt from providing mandatory health coverage if they employ 50 workers or less.
NAHB has been alerting lawmakers that this require-ment is patently unfair and dangerous for an economy that is only beginning to recover from financial collapse. It would place a huge competitive disadvantage on the housing industry, which under normal conditions ac-counts for more than 17% of the nation’s gross domestic product but today continues to struggle for survival.
Immediately after the Senate approved H.R. 3590, NAHB sent a letter to every senator expressing disap-pointment that the narrow employee mandate provision targeting the construction industry had been included in the health care legislation. The letter urged all senators
to work with House and Senate conferees to strike this provision from the final measure.
House health care bill H.R. 3962, which passed the chamber by a slim margin of 220 to 215 on Nov. 7, con-tains no provision comparable to the Merkley amend-ment.
NAHB lobbyists and grassroots members have been working diligently since Christmas to reach out to more than a dozen Democrats in the Senate and more than 50 Democratic centrists in the House to explain how this provision threatens the viability of countless small home builders across the nation and to call on their support to strip this requirement from the final bill.
NAHB has received positive feedback from Demo-crats in both chambers who oppose the Merkley amend-ment and Sen. Blanche Lincoln (D-Ark.) is leading the charge to gather support for a “dear colleague” letter to send to Senate Majority Leader Harry Reid (D-Nev.), urging his assistance to strike the provision from a fi-nal bill. NAHB is also working with House Democrats to pursue a companion letter to House Speaker Nancy Pelosi (D-Calif.).
At this time, it is expected that the usual House-Senate conference process to reconcile the two bills will be by-passed in an effort to avert any procedural stalling tactics from the GOP, which remains united in its opposition to both health care bills.
As the process moves forward, NAHB will continue
to push for the elimination of the Merkley language and seek other changes to address the concerns of the hous-ing community and small businesses.
The above article has been provided to you compliments of NAHB and Nation’s Builder News.
Builders warn of debilitating provision in health care bill
6 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
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Proposals to increase the tax on capital gain that is earned as part of a carried interest would have a par-ticularly damaging impact on multifamily housing and would result in lost jobs and reduced property tax rev-enues for state and local governments, according to re-cent analysis by economists at NAHB.
Legislation passed by the House in December — H.R. 4213, the Tax Extenders Act of 2009 — would make car-ried interest paid as a capital gain subject to ordinary in-come tax rates of up to 35%, up sharply from the current rate of 15%.
NAHB has consistently opposed changing the taxa-tion of carried interest, pointing out that it would im-pose a multi-billion dollar tax increase on real estate at a time when the industry is struggling to emerge from the worst downturn in decades.
“Among other impacts, this change would generate a 133% tax increase on carried interest income, thereby impeding the financing of future multifamily develop-ments and undermining the underwriting of established deals,” Robert Dietz, NAHB’s assistant vice president for tax and policy issues, writes in his economic analysis of
the impact of increasing the tax on carried interest.
“These effects would result in lost jobs and eco-nomic benefits from fu-ture development, as well as foregone property tax revenues for state and lo-cal governments.”
The NAHB study found that increasing the tax rate would reduce state and local property tax collec-tions by $1.2 billion per year nationwide. Approximately $240 million of that loss would come from multifamily properties.
On the employment front, where soaring levels of joblessness continue to erode consumer confidence and cast doubts about the strength of the economic and housing recoveries now getting underway, the tax increase would result in 18,000 lost jobs in 2010 and 33,000 more in 2011 as the result of lower levels of mul-tifamily construction.
The Senate, which has yet to consider a tax extender bill, has in the past rejected the proposal to increase the tax rate on carried interest.
The above article has been provided to you compliments of NAHB and Nation’s Builder News.
Carried interest tax hike a threat to multifamily housing
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January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 7
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Although the extended and expanded home buyer tax credit was signed into law early that month, potential buyers were under no immediate pressure to go out and purchase a new home since they had until April 30 to sign a contract and until June 30 to close in order to qualify for the tax credit.
The reaction was also delayed when the 2009 home buyer credit was signed into law in mid-February. New home sales fell in March and rebounded in April, but were still below their February level. It wasn’t until May that new home sales took a real leap up-ward, with the uptrend continuing into June and July.
With the revival of single-family residential construction, the Census Bureau’s sta-tistics on the value of construction put in place, which estimate the effects of on-going construction and include improvements, have risen over the past six months ( June through November). However, the value was down 24% from a year earlier as a result of the slow crawl toward recovery in residential construction and lower average home values in 2009.
The value of multifamily construction put in place also slowed dramatically, falling in 13 of the last 14 months. In seven of those months, it fell by 5% or more. On a year-over-year basis (November 2008 to November 2009), it was down 45%.
Housing Prices Inch Upwards
The S&P/Case-Shiller 20-city price index has now risen for five months in a row (July through October). And although the measure is down 7.3% from October 2008, the year-over-year rate of decline has slowed in each of the past seven months (April through October).
Further, the year-over-year decline is no longer in the double digits that prevailed for more than a year and a half. The Federal Housing Finance Agency (FHFA) price index rose in the second and third quarters. As of the third quarter of 2009, it was down only 3.7% from the third quarter of 2008.
The first-time home buyer tax credit was instrumental in helping stop the free fall in house prices. The extended and expanded tax credit should prevent further dramatic declines in these prices, boosting the confidence of prospective buyers to re-enter the housing market. According to the S&P/Case-Shiller price index, house prices are back to around their fall 2003 levels.
In many states and metropolitan areas, home prices and inventories have settled back to their long-term trend levels or below. In these areas sustainable production levels are pos-sible going forward. The only uncertainty remaining is consumer confidence. In locations where excess inventory remains, house prices will continue to be soft and further declines are possible.
The national house price indexes will be determined by the delicate balance between the excess-supply markets and the markets that have found their equilibrium. NAHB is forecast-ing flat house price movement on a national level through the second quarter of 2010.
Housing Still Faces Significant Headwinds
Although the economic outlook for housing in 2010 has brightened and the extended and expanded home buyer tax credit will provide a much needed boost, the housing mar-ket continues to face significant challenges that could slow or even derail the recovery.
The job market, though improving, remains weak; potential home buyers still need large downpayments and near stellar credit to obtain a reasonable mortgage; and build-ers continue to face difficulty in obtaining acquisition, development and construction (AD&C) loans and, in many cases, have been burdened with significant adverse changes to the terms of existing loans.
These difficulties have included reductions in the size of loans and lines of credit, de-mands for increased equity for outstanding loans and, in some cases, demands for full repayment of outstanding loans. It has not been uncommon for these increased require-ments to transform a performing loan into a non-performing loan.
Inaccurate appraisals are also hindering a faster housing recovery. These occur when an appraiser (often from outside the area being appraised) uses sales from a dissimilar neighborhood as a comparison or uses a foreclosure or short sale as a comparison without proper adjustments for differences in the condition of the homes.
Foreclosures are yet another drag on numerous housing markets. Many of the fore-closures and past-due mortgages are concentrated in the formerly hot markets — parts of California, Las Vegas, Phoenix and southern Florida — and economically distressed markets, primarily in the Great Lakes region of the upper Midwest.
Based on data from the Mortgage Bankers Association, in the third quarter of last year, the five states with the highest rates of initiated foreclosures, in descending order, were Nevada, Florida, Arizona, California and Michigan. These five states accounted for almost half (48%) of all foreclosures started in the U.S. These same five states (in the same order) also had the highest rate of mortgages 90 days past due, which is generally a sign that most of them are headed to foreclosure.
Even with an improving economy and the home buyer tax credit, foreclosures will be fed by the weak employment market and are likely to continue to rise into the first part of 2010, especially in these areas.
The above article has been provided to you compliments of NAHB and Nation’s Builder News.
New Year Forecast from page 5
8 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
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Elizabeth Elmer264-4399
Shannon Scott231-6114
Dana Hines955-3670
Harry Venik338-3879
Brent Mrofcza955-3677
1155 Kelly Johnson Blvd. Suite 480 Colorado Springs, CO. 80920
719-593-8778Fax: 719-593-2280
Local UnderwritingFHA/VA Loans
Superior Service
KnowledgeProfessionalism
Enthusiasm
WCR Monthly LuncheonJanuary 14, 2010
Saint Aubyn Homes Open HouseJanuary 4, 2010
Above: Ken Venanzi, Sue Ellen Bombardier-Cox, Ruby Davis, Brandon Renaud and Tamara San Agustin of New Home Associates of Colorado.
Above: Dr. Clarissa Arellano with PPAR addresses WCR.
Above: Ruthie Lohrig-Kline with Unified Title accepts her award for "Going the Extra Mile" from Barbara Asbury.
Above: Kevin Hart of Saint Aubyn Homes, Dakota Shafer and Bill Kuemmerle of New Home Associates of Colorado at Saint Aubyn Homes' community in Lorson Ranch.
January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 9
Local News
EMPIRE TITLE IS PROUD
TO ANNOUNCE:
WELCOMING MEMBERS
FEBRUARY 11, 2010
www.etcos.com
Empire Title of Colorado Springs5755 Mark Dabling Blvd. Ste 110 | Colorado Springs, CO 80919
Phone: (719) 884-5300 Fax: (719) 884-5304
Empire Title of Woodland Park509 Scott Avenue | Woodland Park, CO 80863Phone: (719) 686-9888 Fax: (719) 686-8208
Top real estate agents networking and sharing resources to benefi t the
industry and community.
For questions call Empire Title at (719) 884-5300
Be a part of something special.
We Don’t Succeed Unless You Do!
Sometimes we look back on a previous year with a joy in our hearts. The joy comes from the realization that we will never have to see that year again. 2009 held many highs and lows. It was a fickle partner which sometimes loved us and some-times hated us. Sometimes it gave us a boost and sometimes
kicked the chair out from underneath us. As a whole, 2009 will go down as a year filled with promise and improvement in some areas and gave us indications of things to come.
We had a great partner in the area of residential sales. Comparing 2008 to 2009 we had a 4.9% increase in units sold. (See slide number one) Comparing of December of 2008 to December of 2009 we had a 26% increase. This is a partner I would like to take to the dance.
This partner left me at the dance. Fore-closure’s increased by 19%. (See slide number one) This will likely lead us to more short sales and bank owned prop-erties. These will be a fact of life again in 2010. Even though we were left at the
dance, we will need to find a new partner with a different dance step.
This new dance step is ex-citing because of shrinking inventories. With limited new home construction and buy-ers realizing it is time to buy, inventory levels shrank 9.9%. (See slide number one)
Along with inventory levels shrinking, active listings decreased by 18.6% (See slide number one) With fewer partners at the dance, we will be less choosy of who we dance with. This could be a fun night for us.
Average sales price and median sales price kept us guessing. One minute it was the waltz, the next minute it was the mosh pit. The average price decreased by 8.8%. (See slide number one) The median sales price decreased by 6.9%. (See slide num-ber one) This was definitely the mosh pit! Comparing December of 2008 to Decem-ber 2009 the average sales price was only down 1.9% (See slide number two) The median sales price was up 6.9% (See slide number two) I love a good waltz.
Our 2010 partner will likely be homes
valued under $250,000. (See slide num-ber three) Every now and then, we will dare to dance with homes $400,000 and below. (See slide number three) This will give us a time we not soon forget.
Our dance would not be complete if we left out our most intriguing partner. (See slide number four) Rates have been at historic lows and are likely to increase. Don’t be like the Prince at Cinderella’s ball. Hold on tight to your princess now so you will not be forced to scour the countryside looking for the maiden who fits into the glass slipper...
* This information is deemed reliable but not guar-anteed. Resources: Pikes Peak Multiple listing Services, National Association of Realtors, El Paso County Clerk and Recorder, IRS, Freddie Mac.
By Bill McAfeeEmpire Title—
Goodbye but not good riddance to 2009
Local stager now a published authorCorina Salas of Salas Staging, LLC is a
published author. Featuring “Young Couple With Unique
Style” Corina shares steps taken to neu-tralize a space that starts out as a com-pletely personal space.
This book shares inspiring, humorous & idea-filled stories authored by 30 profes-sional Interior re-designers & home stagers.
Discover the world of redesign and home staging from an insider perspective. Follow along as the authors tell real life tales of their most challenging, memora-ble, unique and fun decorating and stag-ing experiences.
In this book you will also learn:No or low cost decorating ideas•Time saving techniques•Furniture strategies•Problem solving tips•
…utilized by these creative and skilled in-terior re-designers and home stagers and in most cases accomplished within a day! To purchase a copy e-mail Corina at [email protected]. You can pay with cash, check or credit card. Payment with a check will take a little longer for delivery due to clearing the check first. The cost is $20 and this will cover the book plus shipping & handling.
10 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
[email protected] | www.csrej.com
the best gift this year...
Plant your seeds now and watch your
business grow.
{ growth }
January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 11
The Housing & Building Association of Colorado Springs (HBA) held its in-augural Parade of Holiday Homes, De-cember 11 – 13; 18 – 20, 2009. HBA created a memorable holiday event for the public to enjoy which was also a way to give back to the community with pro-ceeds from the $5.00 admission price go-ing to support the Empty Stocking Fund. This single fee allowed the general public to visit 18 holiday sites decked out for the holidays Based on the success of this first time event, the Empty Stocking Fund received a donation of $4,000.00. “This was our first year and we weren’t entirely sure what to expect,” said Mark Bussone
Chair of Parade of Holiday Homes. “We were pleasantly surprised by the com-munity’s support and are sure this will be bigger and better in the years to come.”
This year the holiday site included three Holiday Villages, one Holiday Cen-ter and 15 Holiday Homes across Colo-rado Springs in the following develop-ments with the builders indicated:
Banning Lewis RanchRichmond American Homes•Classic Homes•Oakwood Homes•
Flying HorseClassic Homes•Copperleaf Homes•Vantage Homes•Moeller Custom Properties•
Gold Hill MesaCreekStone Homes•
CorderaVantage Homes•
Individual SitesAcuff Homes•Vantage Homes•CreekStone Homes•Goetzmann Custom Homes•Oakwood Homes•
Similar to the annual HBA Parade of Homes, the community was able to vote on their favorite Interior and Exte-rior Holiday Decorations. The People’s Choice awards were presented at a re-ception held at the beautiful Moeller Custom Properties Home located in Fly-
ing Horse to the following builders:
Best Interior1st Place Goetzmann Custom •Homes2nd Place Moeller Custom Prop-•erties3rd Place Vantage Homes in Cord-•era
Best Exterior1st Place Copperleaf Homes•2nd Place Moeller Custom Prop-•erties3rd Place Vantage Homes in Stone •Crossing
We want to thank our main sponsor, Bank of Colorado & Total Theater, as well as our Media sponsors: The Gazette, NewsFirst5 and Y96.9 - KCCY without them this special event could not have taken place!
We would also like to thank the hard working committee who put this event together - Mark Bussone - Capital Pa-cific Homes, Phyllis Thurber - Vantage Homes, Brad Kreikemeier - Bank of Col-orado, Mike Ujlaky - Builders Showcase Interiors, Jason & Carolyn Weber - We-ber Construction, Brian Olson - Wells Fargo Bank, Dena Cordova - Foxworth Galbraith, Dylan Fischer - Ferguson En-terprises, Sharon Regier - Central Bank Corp., Brian Johannsen - C & C Sand and Stone, Lauren Pauralt - UBuildIt, Vickie Drew - Bank of Colorado, Trish Sorvald – HBA, Kirk Standley – HBA. Many of these volunteers also helped
build and decorate the Parade of Holi-day Homes float for the Festival of Lights Parade which won the Rudolf award for best lighting. Thanks for all your hard work!
Local News
HBA Parade of Holiday Homes helps Empty Stocking Fund meet its goal
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12 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
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Personal Finance
Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-em-ployed, you'll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here are some planning tips.
Understand self-employment tax and how it's calculated
As a starting point, make sure that you understand (and comply with) your federal tax responsibilities. The federal government uses self-employment tax to fund Social Security and Medicare benefits. You must pay this tax if you have more than a minimal amount of self-employment income. If you file a Schedule C as a sole proprietor, in-dependent contractor, or statutory employee, the net profit listed on your Schedule C (or Schedule C-EZ) is self-employment income and must be included on Schedule SE, which is filed with your federal Form 1040.
Schedule SE is used both to calculate self-employment tax and to report the amount of tax owed. For more information, see IRS Publication 533.
Make your estimated tax payments on time to avoid penalties
Employees generally have income tax, Social Security tax, and Medicare tax withheld from their paychecks. But if you're self-employed, it's likely that no one is withholding federal and state taxes from your income. As a result, you'll need to make quarterly estimated tax payments on your own (using IRS Form 1040-ES) to cover your federal income tax and self-employment tax liability. You may have to make state estimated tax payments, as well. If you don't make estimated tax payments, you may be subject to penalties, interest, and a big tax bill at the end of the year. For more information about estimated tax, see IRS Publication 505.
If you have employees, you'll have additional periodic tax responsibilities. You'll have to pay federal employment taxes and report certain information. Stay on top of your responsibilities and see IRS Publication 15 for details.
Employ family members to save taxes
Hiring a family member to work for your business can create tax savings for you; in effect, you shift business income to your relative. Your business can take a deduction for reasonable compensation paid to an employee, which in turn reduces the amount of taxable business income that flows through to you. Be aware, though, that the IRS can question compensation paid to a family member if the amount doesn't seem reason-able, considering the services actually performed. Also, when hiring a family member who's a minor, be sure that your business complies with child labor laws.
As a business owner, you're responsible for paying FICA (Social Security and Medi-care) taxes on wages paid to your employees. The payment of these taxes will be a de-ductible business expense for tax purposes. However, if your business is a sole propri-etorship and you hire your child who is under age 18, the wages that you pay your child won't be subject to FICA taxes.
As is the case with wages paid to all employees, wages paid to family members are subject to withholding of federal income and employment taxes, as well as certain taxes in some states.
Establish an employer-sponsored retirement plan for tax (and nontax) reasons
Because you're self-employed, you'll need to take care of your own retirement needs. You can do this by establishing an employer-sponsored retirement plan, which can pro-vide you with a number of tax and nontax benefits. With such a plan, your business may be allowed an immediate federal income tax deduction for funding the plan. You can also generally place pretax dollars into a retirement account to grow tax deferred until withdrawal. You may want to use one of the following types of retirement plans:
•Keoghplan•Simplifiedemployeepension(SEP)•SIMPLEIRA•SIMPLE401(k)•Individual(or"solo")401(k)
The type of retirement plan that your business should establish depends on your specific circumstances. Explore all of your options and consider the com-plexity of each plan. And bear in mind that if your business has employees, you may have to provide coverage for them as well. For more information about your retirement plan options, consult a tax professional or see IRS Publication 560.
Take full advantage of all business deductions to lower taxable income
Because deductions lower your taxable income, you should make sure that your business is taking advantage of any business deductions to which it is enti-tled. You may be able to deduct a variety of business expenses, including rent or
Tax planning for the self-employed
First-time Homebuyer tax credit EXTENDED! This credit can now be used for non first-time homebuyers thru April 30th. Have questions on how this program, can help you sell homes, call me today!
Lillie Lucian 548-5118
Hablo Espanol? 5175 N. Academy Blvd • Colorado Springs • CO • 80918
See Tax Planning page 15
January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 13
On the Move
Jacob BurgerRE/MAX Advantage
Jacob Burger has joined RE/MAX Ad-vantage Realty, Inc. Jacob has resided in Colorado Springs since 1996 and is a gradu-ated from Doherty High School. Jacob is a devoted husband who appreciates the qual-ity of life that Colorado Springs has to of-fer. Burger’s background in “Fix and Flips” equips him with the experience to find great deals for investors and he is passionate about helping families find the perfect home. Jacob joined RE/MAX Advantage based on their well known reputation of integrity. If you are looking for a hard working honest realtor get in touch with Jacob Burger.
Eric RileyERA Shields
Eric was born and raised in Colorado Springs and graduated from Cheyenne Mountain High School. He then graduated from the University of Colorado with a triple major in Finance, Marketing, and Informa-tion Systems. While in Boulder, he was Presi-dent of the Alpha Rho chapter of the Delta Sigma Pi International Business Fraternity. BeforejoiningtheStuartScottGroupatERAShields, he spent 8 years with EMC Consult-ing as a project manager and solutions part-ner in the telecommunications industry. He has earned the National Association of RE-ALTORS e-PRO designation, held by only 4 percent of REALTORS nationwide. He was raised in a real estate household, his father having been a leader in Colorado Springs real estate for over 35 years. Eric has been mar-ried to his wife Erica for 4 years and they have a 17 month old son, Sterling.
Kate WhiteheadERA Shields
Kate began her real estate career with Kay-Deen and Bud Patterson from 2004 to 2006.
She moved over to Stuart Scott Limited in 2007.
The Whitehead Family has been a part of the Colorado Springs community since 1964. Kate married David in 1987. They have two sons, one in college at CSU and the other a senior in high school. The Whitehead's love to travel, ski, hike and play in this wonderful state of Colorado. Prior to her Real Estate career, Kate, was a manager with AT&T in Customer Service. Kate believes in obtain-ing all the information available to be able to counsel her clients and providing superior customer service based on sound advice.
Lonnie WattsERA Shields
Having my own design business for 18 years, I have extensive experience in customer service by working closely with clients to cre-
ate personally tailored experiences. I am a self directed professional, known for ingenuity, tenacity, can-do attitude, and ability to antici-pate needs and identify and direct resources needed to efficiently obtain results that con-sistently surpass expectations. I possess ex-tensive experience in productive interaction with diverse personalities and nationalities. Becoming an Agent with the Stuart Scott Ltd Group in 2009 has enabled me to combine their 30 years of expertise in Real Estate with my expertise in customer service, providing the best of both for my clients.
Personal pleasures include snow skiing, art of all kinds, mentoring young women and J’aprends a’parler du francais. (I am learning to speak French!)
Merrilee DeWaalERA Shields
Merrilee is an experienced sales and mar-keting professional with a career background that illustrates a high level of motivation to meet your real estate needs. She specializes in customer oriented real estate sales and service, providing buyers and sellers with complete information, unique options, and exemplary service throughout the purchase/sale process. Merrilee also has a strong aware-ness of custom home builders and available lots in the Broadmoor, Skyway and Cedar Heights areas. Sales highlights include a $1.1 million showhome and a $350,000 lot in The Broadmoor Resort. She was also a Sales and Marketing Director for Cedar Heights and worked hand in hand with Realtors, Builders and Developers overseeing the development of this luxury community.
Kathy SchneiderERA Shields
Kathy Schneider started her career in real estate with Stuart Scott Ltd in 2005. Prior to that she was in management in the field of finance with the Federal Reserve Bank and USA Rugby. Volunteer work with non-profits has included USA Swimming, Dist 20 IB Programme, and Tri Lakes YMCA.
Kathy, her husband Gary and two children are natives of Colorado and have lived in Col-orado Springs since 1990.
Mark RudolphERA Shields
Mark Rudolph has been a Broker with Stuart Scott, Ltd. since 2001 and has consis-tently been among the company’s top pro-ducers. Mark has been a resident of Colo-rado Springs since 1982 and has been well known throughout the Pikes Peak Region for his roles with various sports organizations in-cluding, USA Hockey, NHL and USA Rugby. Mark also serves as an influential volunteer for major golf and hockey tournaments and is the Organizer of the Annual Gleneagle Spirit 5k.
Sheila MorrisERA Shields
Sheila brings to the role of Realtor her considerable personal experience in Colo-rado Springs real estate. Along with her hus-band, they own and manage several multi-family properties and are part of a real estate development company. Building on her own first-hand success and knowledge of real estate ownership and investment, Sheila’s clients receive trusted advice and proven ex-pertise. Sheila has personally built a custom home and has helped many clients with their purchase of land through new home design and construction. She has been the Top Pro-ducing Broker for Stuart Scott Ltd. in 2005, 2006, 2007, & 2008.
Julie HensleyHerman Group Real Estate
Herman Group Real Estate is excited to announce another experienced real estate broker has joined its family of REALTORS. Julie Hensley is a veteran of real estate sales. She is very knowledgeable in pricing prop-erties to get the quickest transaction, at the highest price with the lowest amount of in-convenience. Ms. Hensley also works very closely with mortgage professionals to help her buyers find the right program for their needs. Julie knows that one size does not fit all. Real Estate is a very personal transaction. Julie Hensley looks forward to hearing from you.
Carol RuettingerHerman GroupReal Estate
Bill Havens, Managing Broker, recently shared with the Herman Group team the ad-dition of another broker to their fast growing organization. Carol Ruettinger is an experi-enced broker. Ms. Ruettinger has chosen to live in Colorado Springs because of the great quality of life. She enjoys the active Colorado life style. Carol enjoys working in real estate. Regardless if she is working with a buyer or a property owner, Carol works to make sure that the real estate transaction is as smooth as possible. He is always paying attention to the many details of real estate transactions.
Also Welcoming:We are pleased to announce that Court-
ney Smith, an experienced REALTOR, has joined the Herman Group Real Estate team. She specializes in residential property in the greater Colorado Springs area. Court-ney’s experience has allowed her to develop a great knowledge of our real estate market. Regardless if the property is large or if it is small, she gives each client her undivided at-tention. Courtney is a member of the Pikes Peak, Colorado and National Association of REALTORS.
We are pleased to announce that Daine Montoya, an experienced REALTOR, has joined the Herman Group Real Estate team.
She specializes in residential property in the greater Colorado Springs area. Diane’s ex-perience has allowed her to develop a great knowledge of our real estate market. Regard-less if the property is large or if it is small, she gives each client her undivided attention. Di-ane is a member of the Pikes Peak, Colorado and National Association of REALTORS.
Herman Group Real Estate is excited to announce another experienced real estate broker has joined its family of REALTORS. Angie Austin is a veteran of real estate sales. She is very knowledgeable in pricing prop-erties to get the quickest transaction, at the highest price with the lowest amount of in-convenience. Ms. Austin also works very closely with mortgage professionals to help her buyers find the right program for their needs. Angie knows that one size does not fit all. Real Estate is a very personal transaction.
Bill Havens, Managing Broker, recently shared with the Herman Group team the ad-dition of another broker to their fast growing organization. Laurie McCarthy is an experi-enced broker. Ms. McCarthy has chosen to live in Colorado Springs because of the great quality of life. She enjoys the active Colorado life style. Laurie enjoys working in real estate. Regardless if she is working with a buyer or a property owner, Laurie works to make sure that the real estate transaction is as smooth as possible. She is always paying attention to the many details of real estate transactions.
Bill HaysAvalar Real Estate Solutions
Bill Hays, a Colorado Springs REALTOR®, has joined Avalar Real Estate Solutions. Pri-or to Colorado Springs, Bill was a Dallas area resident for more than 20 years. He has over 25 years of corporate experience in customer service, operations and logistics. He owned and operated Qualitech Solutions, Inc., a computer networking company, for more than 10 years. His love of real estate began as an investor and rehabber, and he became a licensed REALTOR® in 2004. His focus was residential construction, real estate investing, and multi-family housing.
Mr. Hays relocated to Colorado Springs in late 2007, and continues to specialize in resi-dential real estate, real estate investing, and military or corporate relocation.
Bill has earned the prestigious CRS des-ignation by NAR, the ABR certification, the Certified Home Marketing Specialist (CHMS) certification, the Residential Con-struction Certification (RCC) for expertise in new homes, as well as the Certified Dis-tressed Property Expert (CDPE) to assist home owners with foreclosure avoidance.
When asked why he joined Avalar Real Es-tate Solutions, Bill explained that he wanted to be part of a company that provided a na-tional marketing presence, local office sup-port, and outstanding continuing education. Avalar’s outstanding training and update pro-grams assist Bill in providing superior service to his clients. He is also impressed by Avalar’s opportunities for multiple streams of income and support for building a strong business. Bill welcomes the opportunity to assist other real estate agents in building their business with Avalar Real Estate Solutions.
14 Colorado Springs Real Estate Journal www.csrej.com January 25, 2010
The importance of an energy audit
Local Expert
What is Home Energy Tune-uP?
A service provided by Colorado Energy Audits that helps homeowners lower their energy bills by identi-fying cost-effective technol-ogy upgrades. Tune-uP is the most detailed, accurate and unbiased energy inspection available.
The Tune-uP Process:Certified Energy Inspectors critically examine the •insulation, windows, heating and cooling systems. They also check the water heater and appliances and inspect for cracks & gaps where air may be entering or escaping.Colorado Energy Audits employs 11 diagnostic •instruments, including Infrared Thermal Imag-ing. These help determine the course of action needed to implement and enhance home energy efficiency for years to come. This information is analyzed using special soft-•ware and a ‘Tune-uP” is generated that lists rec-ommended energy improvements with savings and cost estimates. It explains each recommenda-tion and discusses low and no cost energy savings suggestion that will make a home safer and more comfortable. It also provides information regard-ing tax rebates and financing programs available.Depending on the home size a typical energy au-•dit should last 60 to 90 minutes. It is then printed or emailed and delivered to the homeowner.
Tune-uP Benefits for Homebuyers Tune-uP Recommendations:
Lower energy bills by 25-40% or an average of •$500-$1000 a year.Make a home more comfortable.•Increase a home’s resale value.•Make a home more environmentally friendly.•Home maintenance: Tune-uP identifies older •equipment and estimates replacement costs so homeowners can replace this equipment when it is convenient, thus avoiding unexpected expen-sive replacements. This will allow them to take the time to make better choices.
Tune-uP Benefits for Realtors Recommend a Tune-up and homebuyers will •credit you with the benefits they receive.When representing the buyer, offer a Tune-uP gift •to your clients to help them upgrade their home at no out-of-pocket cost.When representing the seller, consider either a •Tune-uP report for prospective buyers or have
the house put in top condition so as to sell faster and for a higher price.With a Home Energy Tune-uP piece of mind is •provided that can make the sale. By alleviating a prospective homebuyer’s fears or concerns about high energy bills, plus the safety of older homes and equipment.The Tune-uP report gives clients the information •needed to make an educated decision which ulti-mately helps meet their needs, leading to higher satisfaction, repeat business and referrals.
Electrical Use and the EnvironmentElectricity use affects the environment more than
people realize. 2005 data has shown its production to be responsible for:
63% of sulfur dioxide emissions that contribute •to acid rain.22% of nitrous oxide emissions directly contrib-•ute to urban smog.39% of carbon emissions that contribute to pos-•sible global climate change33% of mercury emissions that pose a significant •health hazard
Tune-uP Benefits for the environment:The energy used in a typical house releases 22,000
pounds of carbon dioxide (CO2) annually. About twice as much as a typical car emits yearly. Tune-uP can help reduce a home’s annual CO2 output by 25% or 550 pounds.
The Tune-uP report provides CO2 savings from en-ergy improvements in terms of the number of cars re-moved from the road ways. In this case, 550 pounds in the equivalent of not driving for approximately 6 months.
A 2004 National Association of Home Builders survey found:9 out of 10 consumers said they have some de-•gree of concern about the environmental impact of their home.17% said they’d pay more for an environmentally •friendly home. 46% - up from 35% in 2003- want an environmen-•tally friendly house but aren’t willing to pay an ex-orbitant price for it.
Tune-uP for all Situations:A Tune-uP makes a great Thank-You gift •for clients.Use Tune-uP to help negotiate sale price.•Discuss Tune-uP with your clients simply so they •know an energy inspection and analysis service is available. Don’t assume that someone isn’t inter-ested in the energy efficiency upgrades because they haven’t asked about them. Some clients as-sume they can’t afford it.
For “overwhelmed” buyers, recommend they •have a Tune-uP after they move in (you’ll still get credit for the suggestion).
Energy Efficiency Upgrades Pay for Themselves
Many energy efficiency upgrades pay for them-•selves in a few years through energy savings shown in the Home Tune-uP Report. Colorado Energy Audits will also provide information to the hom-eowner on over 125 additional energy cost saving measures which are easy to implement, but need a slight change in behavior to truly reap these ben-efits. This by itself will pay for the cost of our audit ($99-$299) in a couple of months at the latest.Customers with no money to invest can still af-•ford the energy improvements by financing those items whose monthly energy savings are greater than their costs.Homeowners who want to make a wise invest-•ment can implement all recommended upgrades to increase a homes’ comfort, safety, value and ul-timately obtain a great non-taxable return if the home is eventually sold!!
Can the Cost of the Recommended Enhancements be financed on the Mortgage?
YES. A new financing instrument, the FHA •streamlined (203K) mortgage covers small re-pairs up to $35,000. For conventional loans it is up to the lender.Mortgage amount may also be increased when •combining EEM (Energy Efficient Mortgage) with Streamline (K).For pricing information please visit •www.Colorado-Energy-Audits.com
Phil Anthony is a Professionally Trained and certified Energy Inspector and the owner/operator of COlORADO ENERGY AUDITS. A Resi-dential/Commercial Energy Assessment Company located in Colorado Springs. Visit their web site at www.Colorado-Energy-Audits.com or to contact Phil you may E-Mail him at [email protected] or call him at (719) 360-4777.
By Phil AnthonyColorado Energy Audits—
got
let usnews?
More Clients? More Sales? More Referrals?
January 25, 2010 www.csrej.com Colorado Springs Real Estate Journal 15
JANUARYMonday, January 25State of the Union with Congressman Doug Lamborn11:30am – 2:00pmCrowne Plaza: 2886 S. Circle DriveRSVP: www.coloradospringschamber.org
Mayhem in Short Sales9:00am @ Empire Title719-884-5300 or [email protected]
Wednesday, January 27Get Ready for 20108am – 10am @ [email protected]
Wet Wednesday Class (Erosion Control Permits)11:30am – 1:00pm @ [email protected]
Thursday, January 28Farm and Land8:00am – 9:30amMaggie Mae's RestaurantJim Crossey, 719-579-0404
Friday, January 29Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
Saturday, January 30HBA Annual Awards Dinner5:00pm – 9:00pmGarden of the Gods [email protected] www.cshba.com
FEBRUARYWednesday, February 3REALTAC8:00am – 9:30am @ PPARHolly Skelton at 719-593-1000
Mandatory Update Class8:30am – 12:30pm @ Security TitleJennifer, [email protected]
Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
How to Do a Short Sale1pm – 5pm @ Wells Fargo Home Mortgage (90 S. Cascade Ave)Courtney Miller, 719-471-1058
Thursday, February 4The Challenge of New Home Sales Management (IRM IV)8:30am @ [email protected] 719-592-1800
B.L.E.E.P. (Black Forest & Eastern Marketing Group)8:30am – 10:00amThe Grill at Latigo Trail Equestrian CenterRoxene, 495-6213
Friday, February 5Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
The Challenge of New Home Sales Management (IRM IV)5:00pm @ [email protected] 719-592-1800
Saturday, February 6Reverse Mortgages10am @ Ent (Campus)Ent.com/Seminars or call (719) 550-6670
Wednesday, February 10E-Contract Beginning Class10am – 12pm @ Security TitleJennifer, [email protected]
Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
HBA After Hours5:30pm @ Schroll [email protected] www.cshba.com
Thursday, February 11Economic Forecast Breakfast7am @Crowne Plaza HotelLIMITED SPACE [email protected]
Farm and Land8:00am – 9:30amMaggie Mae's RestaurantJim Crossey, 719-579-0404
Friday, February 12Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
Wednesday, February 17Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
Thursday, February 18Colorado Springs Networking Group8:00am – 9:30amColorado Springs Country ClubRuthie, 719.492.3998
Friday, February 19Breakfast w/the Builders8am @ Mr Biggs Event [email protected] www.cshba.com
Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
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home office expenses, and the costs of office equip-ment, furniture, supplies, and utilities. To be de-ductible, business expenses must be both ordinary (common and accepted in your trade or business) and necessary (appropriate and helpful for your trade or business). If your expenses are incurred partly for business purposes and partly for personal purposes, you can deduct only the business-related portion.
If you're concerned about lowering your taxable in-come this year, consider the following possibilities:
Deduct the business expenses associated •with your motor vehicle, using either the standard mileage allowance or your actual business-related vehicle expenses to calculate your deductionBuy supplies for your business late this year •that you would normally order early next year
Purchase depreciable business equipment, •furnishings, and vehicles this yearDeduct the appropriate portion of business •meals, travel, and entertainment expensesWrite off any bad business debts•
Self-employed taxpayers who use the cash method of accounting have the most flexibility to maneuver at year-end. See a tax specialist for more information.
Deduct health-care related expenses
If you qualify, you may be able to benefit from the self-employed health insurance deduction, which would enable you to deduct up to 100 percent of the cost of health insurance that you provide for yourself, your spouse, and your dependents. This deduction is taken on the front of your federal Form 1040(i.e.,"above-the-line")whencomputingyouradjusted gross income, so it's available whether you itemize or not.
Contributions you make to a health savings ac-count (HSA)are alsodeductible "above-the-line."An HSA is a tax-exempt trust or custodial account you can establish in conjunction with a high-de-ductible health plan to set aside tax-free funds for health-care expenses.
This information was developed by Forefield, Inc. an independent third party. It is general in nature, is not a complete statement of all informa-tion necessary for making an investment decision, and is not a rec-ommendation or a solicitation to buy or sell any security. Investments and strategies mentioned may not be suitable for all investors. Past performance may not be indicative of future results. Raymond James & Associates, Inc. does not provide advice on tax, legal or mortgage issues. These matters should be discussed with an appropriate profes-sional.
Submitted by Gregory G. Dellinger of Raymond James & Associ-ates, Inc. You may contact him at 303-448-7141 or via email at [email protected].
http://www.raymondjames.com/GregDell
Did You Know?Avalar Real Estate Solutions finished 2009 (our first full year) ranked 12th in the Pikes Peak MlS for closed volume out of 800 offices!
It’s All About the AgentAvalar Real Estate Solutions is committed to providing a dynamic work environment, world-class career management and the highest level of support at a fair price. Our mission is to create a culture that inspires and enables our associates to perform at their very best and bring the highest level of service to home buyers and sellers.
Avalar Real Estate Solutions1880 Office Club Pointe | Colorado Springs, CO 80920(719) 388-8444http://[email protected]
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