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Vol.2 No.8 www.csrej.com April 26, 2010
EntSki Trip
Fidelity Nat'l Title & Wells Fargo Present David Knox
HBASpike Party
PAGE 3 PAGE 8PAGE 5
PRSRT STDUS POSTAGEPAIDPERMIT 745 COlO SPGS CO
National News ................. Page 2Local News ..................... Page 10On the Move ................... Page 13Local Expert ................... Page 14Around the Corner ............Page 15
Pending home sales show healthy gain, hint at spring surge
Colorado Springs among top cities for business and careers according to a Forbes rankingFour Colorado cities make an appearance in their top 15
Security Title Guaranty Company and United Title Company, members of Fidelity National Financial Inc., now Fidelity… in name
The New
CSREJ.com Reserve this front page ad. Call Rachelle. 205-1299
Check it out today!
Security Title Guaranty Company, United Title Company and Fidelity Na-tional Title Insurance Company, (all three companies owned by Fidelity Na-tional Title Group), are merging forces in Colorado and will be known as Fidelity National Title Insurance Company. This announcement comes on the heels of banner years of extreme stability and suc-cess for all three organizations. Security Title Guaranty Company has been serv-ing the Colorado market since 1946 and United Title Company since 2004. Fi-delity National Title Insurance Compa-ny has developed a growing presence in Colorado over the last 5 years as a direct operation with national origins that can be traced back 150 years. Merging the tradition and financial strength of these operations will provide valued custom-ers even stronger resources for innova-tion and support. The same people re-main and the same products and services will still be available. Local and statewide management is not changing and the merging of these companies will con-tinue to provide premier title insurance
services locally and nationally through an expanded and significant network of offices throughout Colorado. Fidelity National Title Insurance Group (NYSE; FNF) is one of the nation's largest pro-vider of title insurance and escrow ser-vices. Fidelity, through its underwriting subsidiaries, is the largest market share title insurance company in Colorado.
In a challenging economy, investing in the future, by bringing the talent, ser-vices and strength of all three companies together will provide customers one-stop shopping for all of their local and nation-al title insurance needs. Local decision making, personal relationships, unparal-leled customer service and expert escrow and title teams bring together hundreds of years of combined experience and best practices...and now little else will change other than the name. In the transition process, Security Title and United Title will operate as Fidelity Security and Fi-delity United.
For more information, please visit www.stgco.com or call John longo (303) 889-8080.
Pending home sales rose in February, potentially signaling a second surge of home sales in response to the home buy-er tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on con-tracts signed in February, rose 8.2 per-cent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 per-cent above February 2009 when it was 83.2. The data reflects contracts and not
closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief econo-mist, said the improvement is another
hopeful sign. “The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”
The PHSI in the Northeast rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009. In the Midwest the index jumped 21.8 per-cent to 97.9 and is 18.7 percent above a year ago. Pending home sales in the South increased 9.2 percent to an index of 107.0, and the index is 17.5 percent higher than February 2009. In the West the index fell 4.8 percent to 98.0 but is
14.6 percent above a year ago.“Anecdotally, we’re hearing about a
rise of activity in recent weeks with on-going reports of multiple offers in more markets, so the March data could dem-onstrate additional improvement from buyers responding to the tax credit,” Yun said.
The National Association of Real-tors®, “The Voice for Real Estate,” is America’s largest trade association, rep-resenting 1.2 million members involved in all aspects of the residential and com-mercial real estate industries.
© Copyright National Association of Realtors. Reprinted with permission.
In a recent Forbes ranking for business and careers, Colorado Springs, CO came in at 12th of major metro areas. The rank-ing was based on the cost of doing busi-ness in each city, job growth projections, educational attainment and population.
Topping the list of cities with the best projections was Des Moines, Iowa. Des
Moines had one of the best scores in Job Growth Projection.
Fort Collins, CO ranked 4th overall while Denver, CO came in at 6th. Boul-der, CO was also amongh the cities in the top 15 coming in at 14th overall.
For more information on each city's individual scores, visit Forbes.com.
2 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
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.
We welcome the submission of articles, photos and press releases. Please email any considerations to:
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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National News
Ent's Ski Bus to BreckenridgeApril 9, 2010
Above: Toni Sparks of The Rawhide Co Realtors and Dawn Reagan of Heritage Title.
Above: Shelley Farmer of Heritage Title and Suzanne Murry.
Above: Ken Meyer and Victoria Burns. Above: Eileen Wolff of Heritage Title and Kathie Spurling of Ent.
Right: Eileen Wolff, Tad Wermers, Tony Sloan, Brad Shaw, Stephanie Dombrowski, Suzanne Murry, Kathie Spurling, Lisa Shoblo, Toni Sparks and Keryn Derubis.
Above: Brad Shaw and Stephanie Dombrowski of Ent.
See MoreOnline
Builders urge extreme care in restoring housing finance systemAs Congress begins to debate how
to reform government-sponsored en-terprises (GSEs) Fannie Mae, Freddie Mac and the Federal Home Loan Bank System, NAHB on April 14 called on lawmakers to ensure that the federal gov-ernment continues to provide a backstop for the housing finance system to ensure a reliable and adequate flow of affordable housing credit.
Testifying before the House Financial Services Committee, NAHB Third Vice Chairman Rick Judson, a builder and developer from Charlotte, N.C., said the need for this support is underscored by the current state of affairs — with the GSEs, Federal Housing Administration and Ginnie Mae acting as the primary conduits for residential mortgage credit.
“NAHB feels the federal backstop must be a permanent fixture in order to ensure a consistent supply of mortgage liquidity as well as to allow rapid and ef-fective responses to market dislocations
and crises,” said Judson.Related to the future of Fannie Mae
and Freddie Mac, NAHB recommended policy changes to restore and improve the secondary mortgage market and housing finance system:
■ Degree and structure of government support. While government support is needed to ensure that mortgage credit is available and affordable in all areas of the country under all economic circum-stances, support for the conforming con-ventional mortgage market should not be provided directly to private companies. Instead, the federal government should explicitly guarantee the timely payment of principal and interest on securities backed by conforming conventional mortgages, in the same way that Ginnie Mae now provides guarantees for inves-tors in its securities.
■ Operation of the conforming con-ventional mortgage market. NAHB envi-sions private companies — conforming
mortgage conduits (CMCs) — being chartered to purchase conforming con-ventional loans originated by approved mortgage lending institutions such as banks, savings and loan associations, mortgage banking companies and credit unions and then issuing securities backed by those mortgages.
CMCs would guarantee the timely
NAHB Third Vice Chairman Rick Judson testifies before House Financial Services Committee. Photo by Herman Farrer.
See Housing Finance page 9
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 3
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What is this rule?
In 1992, Congress enacted the Residential Lead-Based Paint Hazard Reduction Act (Title X of Public Law 102-550). Section 1018 of Title X regulates disclo-sure of lead-based paint in sales and lease transactions involving pre-1978 residential properties.
Under this Act, the Environmental Protection Agency (EPA) was required to develop this new rule, which goes into effect April 22, 2010. The new EPA rule, known as the Renovation, Repair and Painting Rule or RRP rule, addresses lead hazards in renovation, repairing and painting activities. The EPA is requiring additional regu-latory compliance procedures before, during and after any remodeling or renovation activity.
What does this mean for a REALTOR® and how will it affect their business?
Pursuant to Section 1018, REALTORS® are required to (1) obtain information from a seller regarding the known existence of lead-based paint in a home; and (2) provide information regarding the hazards of lead-based paint in the home. Failure to comply with this rule could result in warnings and monetary fines.
The EPA Lead Based Paint Booklet (aka “the blue book”) already in use will not change. There will not be any new lead based paint disclosure forms, because the new RRP rule does not change the disclosure require-ments. The new rule is not retro-active and any work completed before April 22, 2010 does not fall under the new rule. REALTORS® do not have the responsibility to make sure the homeowner or contractor did everything right. Most REALTORS® will find their business unaf-fected by this new rule.
Who will be affected by the new RRP rule?
Contractors, painters and landlord/property manag-ers who do their own work or have employees who do the work will be affected by the new rule.
Why should REALTORS® know about the new RRP rule?
REALTORS® are often asked by clients to:Recommend/arrange for a renovation contractor•
Make sure your favorite contractor has been Lead Safe Certified•Provide guidance to clients on renovations that need to be •done
Some REALTORS® are also landlord/property man-agers and will be affected by the new rule.
What do REALTORS® need to disclose?
REALTORS® need to disclose when a property is be-ing leased or sold if there is any lead based paint hazards or if there is any information on the paint. REALTORS® still need to provide the EPA Lead Based Paint Booklet (aka “the blue book”) for pre-1978 homes and fill out a Lead Based Paint Disclosure.
If a certified renovator has done work on the home, if there are results from a spot-test kit or an XRF test, a lead inspection, a risk assessment or any other informa-tion about lead in the home, the results will have to be disclosed to the buyer or tenant.
REALTORS® can no longer assume that the seller doesn’t have any information regarding the paint. They are going to have to ask and pay a little more attention if there is any lead information that the seller has, such as spot test results, risk assessments or lead inspections. Especially if:
The building was built after 1950 (there is a very good chance •that there is no lead based paint in the interior of the home)There is/was an in-house maintenance crew•There are any new additions or renovations that were done•
REALTORS® can inoculate themselves from liability by doing the disclosure correctly, disclosing any known lead-paint hazard and any previous testing and remodel-ing activity and make sure that the contractors they rec-ommend to their clients are certified.
What does the new RRP rule say?
Basically, the new rule applies to all renovations per-formed for compensation in target housing (homes built pre-1978) and child-occupied (such as a daycare) facili-ties (built pre-1978) where the paint is disturbed. The
purpose is to ensure the following:Owners and occupants of target housing and child-occupied •facilities receive information on lead-based paint hazards be-fore these renovations begin; andIndividuals performing renovations regulated in accordance •with §745.82 are properly trained; renovators and firms per-forming these renovations are certified; and the work practices in §745.85 are followed during these renovations.
The rule is intended to prevent new lead hazards cre-ated by a renovation.
What does “renovation” mean?
Under the new RRP rule “renovation” means:Modification of any existing structure or portion
thereof, that results in the disturbance of painted surfac-es, unless that activity is performed as part of an abate-ment. This includes:
Removal, modification or repair of painted surfaces or painted •componentsRemoval of building components•Weatherization projects•Interim controls that disturb painted surfaces •Converting a building or part of a building into housing or a child •occupied facility
An abatement, which is a project designed to perma-
nently eliminate existing lead hazards, is not covered by the new RRP rule. Abatements are covered by a different, more rigorous set of EPA rules. Learn more about abate-ments at http://www.epa.gov/lead/pubs/traincert.htm
Minor repairs and maintenance activities do not fall under the RRP rule.
What is considered a minor repair or maintenance activity?
Anything that disrupts a total of six square feet or less of paint-•
ed surface per room for indoor activitiesBe sure to count the entire surface area that will be disrupted or •removed; i.e. both sides of a door.Work in the same room within 30 days will fall under the new •RRP rule
Anything that disrupts a total of twenty square feet or less of •painted surface for outdoor activities
A repair is not considered minor if:Using prohibited/restricted work practices•
Conducting:•Window replacement or repair•Demolition of painted surface area•
FAQ’s for EPA New Lead Based Paint Renovation Rule For Realtors
See Lead Paint page 4
4 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
National News
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BIGGER DOESN’T MEANSTRONGER. What about emergency repairs?
Emergency repair or renovation is:Sudden, unexpected event, such as a bro-•ken pipe in a wall
If not immediately attended to:•Presents a safety or public health hazard; or•Threatens equipment and/or property with •significant damage
Emergency repair or renovation is exempt from information distribution, warning signs, containment, waste han-dling, and training and certification re-quirements to the extent necessary to respond to the emergency.
However, cleaning requirements, cleaning verification and recordkeeping are still required!*
What does “compensation” mean?
Under the new RRP rule “compensa-tion” means:
Pay for work performed•Wages•
Employees of contractors, building owners, •property management companies, child-occupied facility owners, State and local government agencies and non-profits (who hire labor)
Rent•Under the new RRP rule “compensation” •does not mean:REALTOR• ® feesChild care payments – since it is not a con-•tract for building maintenanceOwners doing the work on their primary •residence
REALTORS® do need to be aware that cashing a check from a client to pay the contractor may make them responsible for compliance with the new RRP rule.
What does “disturbing the paint” mean?
The removal, modification or repair of painted surfaces or painted components such as:
Modification of painted doors•Surface restoration•Window repair or replacement•Surface preparation activity•
Sanding, Scraping•Other such activities that may generate paint •dust
The removal of building components•Walls, Ceilings, Plumbing, Windows•
Weatherization projects•Cutting holes in painted surfaces to install •blown-in insulation or to gain access to atticsPlaning thresholds to install weather-stripping•
Interim controls that disturb painted sur-•faces.
What about painting over intact paint?
If the project just involves painting over intact paint with no surface prepa-ration or any other activity that would cause paint dust, then that project would be exempt from the new RRP rule.
Are there any exclusions to the new RRP rule?
Any home or building built in 1978 or later•Zero-bedroom housing, such as efficien-•cies, studio apartments, and dormitory housingAbatement•
Designed to permanently eliminate lead-•based paint hazardsMust follow separate, more rigorous rule•
Minor repair and maintenance activities•No lead-based paint disturbed•
Written determination by Certified Risk As-•sessor or Lead InspectorProper use of spot test kit by Certified Reno-•vatorPainting over intact paint only, with no other •activity that causes paint dust
Do-it-yourselfer•Owner does the work himself in the home •he resides in
How can I be certain that my pre-1978 home even has lead based paint?
The new RRP rule assumes that if a home or building was constructed before 1978, it does have lead based paint. Be-fore starting a renovation, if there is no information available about the paint, there are two options for testing to see if there is actually lead based paint pres-ent:
Paint testing by a certified lead-based paint •inspector or lead-based paint risk asses-sor—These licensed professionals con-duct a surface-by-surface investigation for lead-based paint by collecting paint chips for laboratory analysis or by testing painted surfaces with an machine called an X-Ray Fluorescence Analyzer (XRF) which mea-sures the amount of lead in the paint. Paint testing by a Certified Renovator—•Certified Renovators, at the request of the homeowner, can use EPA-recognized chemical spot test kits to test all painted surfaces affected by the renovation.
Spot test kits only work on wood surfaces, •such as window sills. They will not work on plaster or other non-wood surfaces
The EPA is looking at other test •kits that will work on all surfaces
All surfaces affected by a renovation covered by the new RRP rule must ei-ther be tested for lead-based paint or pre-sumed to contain lead-based paint.
Testing must include all affected sur-faces that will be disturbed during the renovation work. Testing will include surfaces coated with:
Paint, Shellac, Varnish, Stain, Paint covered •by wallpaper
A report documenting the testing must list the surfaces tested and the sur-faces which contain lead-based paint. If lead-based paint is present on an affected surface, then the lead safe work practices under the new RRP rule must be used on the job. If no lead-based paint is present, then the owner and contractor must keep the report on file and the renovation will be exempt from the new RRP rule.
For a list of certified lead testing pro-fessionals in your area, contact the Na-tional Lead Information Center at 1-800-424-LEAD (5323).
If no testing is done, then it is assumed that lead based paint is present and the renovation must follow the new RRP rule.
How can I tell if a contractor is certified?
There are two kinds of contractor qualifications:
Certified Renovation Firm•Ask for certificate from EPA•Check expiration date•
Certified Renovator•Works for Certified Renovation Firm•Ask for certificate from accredited training •providerCheck date – certification lasts only five •yearsCheck photo – must be on the certificate•
My client is doing renovations on their pre-1978 house. What do I need to look for during renovation?
The REALTOR® does not have any responsibility for making sure that the renovations are being done correctly. However, in the interest of protecting the client, a REALTOR® can look for certain things pre, during and post renovation.
Pre-renovation: Contractor gives new “Renovate Right” •pamphlet to owner or tenant
Pamphlet can be downloaded at www.epa.•gov/lead
Lead Paint from page 3
See Lead Paint page 6
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 5© Ent Federal Credit Union, 2010 • Ent is a registered trademark of Ent Federal Credit Union.
Ent is a community-chartered credit union Equal Opportunity Lender Federally insured by NCUA
Standard credit qualifications apply. Loans are subject to final credit approval. Financing available on homes throughout Colorado.
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HBA Spike PartyApril 6, 2010
Above: Bobby Cotten of Powers Thermal Insulation, Trish Sorvald of HBA and Steve Neary of Copperleaf Homes.
Above: Kyle Campbell of Classic Consulting (HBA President Elect), Ralph Braden of Nor’wood Limited (Immediate Past President) and Kathi Braden of Kathi Braden Interiors.
Above: Trish Sorvald, HBA; Marc Towne, Classic Homes; Joan Hathcock, D&J Quality Electric; and Renee Zentz, HBA.
Left: Bill Johannsen, C&C Sand and Stone; Renee Zentz, HBA; and Ralph Braden, Nor’wood Limited.
Above: Jean White of Fusion Sign & Design and Dawn White of Dawn White & Co.
Above: Kenton Pass of Kenton Pass & Co. (top Spike for 2009) and Lana Myrick of Hanley Wood Market Intelligence.
The Spike Party is an exclusive party to thank members of the Association for their recruitment and retention activities to make the HBA a strong organization!
6 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
National News
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Elizabeth Elmer264-4399
Shannon Scott231-6114
Dana Hines955-3670
Harry Venik338-3879
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A black & white copy is ok •Signed form from owner or tenant, form •can be found in the back of the “Renovate Right” pamphlet or downloaded from www.epa.gov/lead Option to post sign in common areas•
During renovation:Certified Renovator must do or supervise:•
Posting of signs•Containing of work area•Cleaning of work area•Work in work area•
Be available at all times when work is being •done, either on-site or by telephonePersonally conduct post-renovation Clean-•ing VerificationUse plastic to cover:•
Floor, Windows and doors, Ducts•Extend six feet beyond inside and ten feet •outside
Seal plastic at edges•Use HEPA vacuum for cleanup•Certified Renovator must not:•
Use prohibited/restricted work practices•Open-flame burning or torching•Machines to remove paint through high-•speed operation without HEPA exhaust controlOperating a heat gun at temperatures at •or above 1100˚ F
Let residents into work area•Let dust or debris leave work area•
Post renovation:No visible dust, debris or residue in or below •the work areaAsk about post-renovation Cleaning Verifi-•cation
Comparison to Cleaning Verification Card•“White Glove Test”•Two wet wipes and one dry wipe if not clean•
What if I am representing the buyer?
If the buyer is interested in a pre-1978 home that is undergoing renovations, then in the interest of protecting their client, the Buyers Agent can also watch for the above points to make sure that the new RRP rule is being followed. If the Buyers Agent has any concerns, they should contact the Sellers Agent or Em-ploying Broker immediately.
My client has a house that was built in 1992. In a past remodeling, parts were salvaged from a house that was built be-fore 1978. Do further renovations now fall under the new RRP rule?
The new RRP rule applies to the build-ing being built prior to 1978. Because the house was built after 1978, the new RRP rule would not apply. If the owner wants to be sure the salvaged parts are lead free, they can contact a Lead Inspector, Certi-fied Risk Assessor or Certified Renova-tor to test for lead.
However, if the salvaged parts do have lead, they are considered a lead hazard. Since the new RRP rule wasn’t broken, there are no grounds to charge a fine, but the EPA or the State can still come in under the Hazardous Waste Law and require that the hazard be cleaned up.
My client has a house that was built in 1964. They did renovations in 2008, and now want to sell the house. How does the new RRP rule apply?
The new RRP rule goes into effect April 22, 2010. Any work completed pri-or to April 22, 2010 does not fall under the new RRP rule. The rule is not retro-active. However, REALTORS® can inoc-ulate themselves from liability by doing the disclosure correctly, disclosing any known lead-paint hazard and any previ-ous testing and remodeling activity and make sure that the contractors they rec-ommend to their clients are certified.
REALTORS® can no longer assume that the seller doesn’t have any informa-tion regarding the paint. They are going to have to ask and pay a little more atten-tion if there is any lead information that the seller has, such as spot test results, risk assessments or lead inspections. Es-pecially if:
The building was built after 1950 (there is •a very good chance that there is no lead based paint in the interior of the home)There is/was an in-house maintenance •crewThere are any new additions or renovations •that were done
My client does fix-and-flips on older houses, and does his own work. How does the new RRP rule apply?
If the owner of the house lives in the house (and the house was built pre-1978) at the time of the renovations and does his own work, then he would be exempt from the new RRP rule as a do-it-your-selfer. If he does not do his own work, and hires or sub-contracts the work out, he needs to be sure those people are cer-tified under the new RRP rule.
However, if the owner of the house does not live in the house (and the house was built pre-1978) at the time of the ren-ovations, then the new RRP rule would apply. If he does the work himself, but doesn’t live in the house, then he would need to become certified. If he hires or sub-contracts the work out, he needs to be sure those people are certified.
Where can I go for more information on the new RRP rule?
The National Association of REAL-TORS® (NAR) has been very pro-active on this issue. You can find more informa-tion at http://www.realtor.org/govern-ment_affairs/lead_paint_main
In 2006, NAR sent a letter to the EPA in opposition to the new rule. It can be read at http://government.ppar.com/NewG-ASite/Website/lead%20paint%20reno-vation%20letter-%20revised.pdf
You can also contact the EPA’s regional office in Denver at 303-312-6966 or visit the EPA’s website at http://www.epa.gov/lead/pubs/renovation.htm
This is still a new rule and there are a lot of grey areas. If you are not sure about how the new RRP rule will apply to a cer-tain situation, contact the EPA and ask them before the start of the project.
The above article has been supplied by the Pikes Peak Association of RealtorS®. For more informa-tion log on to www.ppar.com or call 719-633-7718. Reprinted with permission.
Realtornewoffice?in the
Make sure they’re getting the
Lead Paint from page 4
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 7
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Peak ProducersApril 14, 2010
Peak Producers Go Green
We are joining with Keep Colorado Springs Beautiful to help keep Colorado Springs clean. The City is every single one of our clients first impression. Keep Col-orado Springs Beautiful cleans the city, help find homes for the homeless, jobs, and assists with helping homeless with their basic needs. The Peak Producers will be picking up trash on April 24th and May 1st at different locations throughout the city. If you would like to join them or donate please contact Peggy Carmack or Sara Bremenkampf at 884-5300
8 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
Former known as Security Title Guaranty Co.
Karen BloserCell Phone:[email protected]
Lisa WesselCell Phone:[email protected]
Terry DavisCell Phone:[email protected]
Shirlee DobbsCell Phone:[email protected]
Debbie WilsonCell Phone:[email protected]
Greg WolffVice [email protected]
Partnering with at-home Realtors as well as Realtors that work from the offi ce.
Call us to fi nd out how we can help...
Listing PromoterPromotes listing address as website URLs• (i.e. www.23MainSt.com)Pulls listing information from MLS systems• Auto-Submits listing website URL to search engines• Syndicates to Google base, Homes.com Zillow, etc. • And MORE….
Doc CentralAccess you fi les 24/7 – 365 from any computer• Alleviate the need to pay rent to store old fi les •
E-AgentBuild your website, EASY-FAST• Drives internet traffi c back to you• Drip Marketing Program • MUCH MORE …
Inter-Active Title CommitmentAll supporting documents at your fi nger tips• Access 24/7 for all parties related to transaction •
GFE CalculatorGo to • www.fntcolorado.com click on GFEGreat for Realtors and Lenders • Accurate Title and Closing Figures for all estimates•
VTECAccess your fi les, transactions and documents in a safe, • secure environment, 24 hours a day, 7 days a week.Order Desk - Place our orders online in a secure, • integrated environment.
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Fidelity National Title & Wells Fargo Home Mortgage present David Knox
March 17, 2010
Above: Jo Baddgor and Debbie Havens with Wells Fargo Home Mortgage.
Above: Rosalinda Chaney with Keller Williams Clients Choice, Judy Music with The Masters Real Estate Group, Dawn Rush and Kevin Cleveland with Keller Williams Clients Choice.
Above: Tom Bird and Amanda Vignery with The Platinum Group, Penny Mack with ERA Herman Group and Claire Boynton with The Platinum Group Realtors.
Above: Linda Lafferty, Laurie Ann Maloney and Craig Rogers with the Platinum Group Realtors.
Left: Irene Tanis with RE/MAX Performance and Patricia Edwards with The Platinum Group Realtors.
Above: Debbie Wilson and Terry Davis with Fidelity National Title.
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 9
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payment on the mortgages that are pooled in the govern-ment-guaranteed securities and would be required to be well-capitalized and to maintain reserves at levels appro-priate for their risk exposure. However, CMCs and the mortgages backing their securities would not have im-plicit or explicit support from the federal government. A fund would be established by the government to provide a guarantee of timely payment of principal and interest to investors in the securities. The CMCs would pay a fee to capitalize the fund, which would be designed to miti-gate the federal government’s risk so that it would only be exposed in the case of a “catastrophic” occurrence.
■ Conforming conventional mortgages. Mortgages eligible for inclusion in securities receiving an explicit federal guarantee should have well-understood risk characteristics. This would include fixed-rate and stan-dard adjustable-rate mortgages and selected multifamily mortgage loans.
NAHB is in the process of updating its policy on the future of the Federal Home Loan Bank System and be-lieves that policymakers must take into account its sig-nificant structural and operational differences from Fan-nie Mae and Freddie Mac when considering the future make-up of the housing finance system.
With Fannie Mae and Freddie Mac now operating under conservatorship and experiencing severe financial pressures, NAHB urged Congress to proceed with cau-tion as lawmakers take steps to transition to a new hous-ing finance system.
“Any changes should be undertaken with extreme care and with sufficient time to ensure that U.S. home buyers and renters are not placed in harm’s way and that the mortgage funding and delivery system operates ef-ficiently and effectively as the old system is abandoned and a new system is put in place,” said Judson.
The above article has been provided to you compliments of NAHB and Nation’s Builder News.
HUD to permit e-Docs in transactions; Realtors are ready!The National Association of Realtors®
hailed the decision by the U.S. Depart-ment of Housing and Urban Develop-ment to allow electronically signed doc-uments in transactions involving home loan guarantees by the Federal Housing Administration.
In a Mortgagee Letter released today, HUD announced guidance for accepting electronically signed documents from third parties, that is, sales contracts.
“This is a great step forward in speed-ing up the real estate transaction and making it easier for buyers, sellers and real estate professionals to complete transactions timely and efficiently,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associate in Tucson,
Ariz. “We applaud FHA’s refreshing atti-tude towards modernization and making electronic signa-ture capabilities acceptable for its mortgage trans-actions.”
Golder also noted that since last fall, Realtors® have been helping buyers and sellers sign bids and clos-ing documents on-line through NAR’s REALTOR Benefits® partner, DocuSign, the leading provider
of on-demand electronic signature solu-tions. DocuSign is also an investment of
Second Century Ventures, NAR’s venture capital arm.
“Realtors® are industry innovators,” said Dale Stin-ton, NAR chief executive officer. “The ability to use electronic signatures in real estate transactions is a valuable tool for the consumers and the real estate industry. We are pleased that the FHA
has taken this important step to advance their use in FHA mortgage trans-
actions.”
The DocuSign e-signature process is both convenient and legally compliant, Stinton said. Rather than driving across town to get a signature or forcing their clients to find a fax machine, real estate professionals are using DocuSign to ex-ecute agreements with buyers and sellers electronically, eliminating the old pro-cess of printing, faxing, and waiting for the return fax.
Realtors® can speed up sales transac-tions, increase client satisfaction and maintain a competitive edge on most transactions, including FHA loan guar-antees.
© Copyright National Association of Realtors. Reprinted with permission.
got
Housing Finance from page 2
10 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
Local News
New 3-5-1 regulations take effect May 1, 2010Changes to rules will affect title insurance services across the state
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Title insurance is already a highly regu-lated industry, but it will become even more so once the new version of Colora-do Division of Insurance Regulation 3-5-1 takes effect on May 1, 2010.
The revised regulation will further clarify the rules for title insurance prod-ucts and services, specifically as they af-fect items of value provided to real estate professionals.
Consumers often have little under-standing of title insurance and frequently rely on the advice provided by their Real-tor or lender.
The goal of the regulation is to ensure that real estate professionals who direct title business do so based on the service levels, ethics, reputation, and financial sta-bility of the title entity—not inducements or other remuneration.
New rules for Ownership and Encum-brance Reports
One change that real estate profes-sionals will notice immediately is that all Colorado title insurance companies will begin charging for Ownership and Encumbrance (O&E) reports, a prod-uct previously provided free of charge in many markets. The O&E charge must be properly filed with the Division of Insur-ance the same way that rates are filed.
New rules for TBD Commitments
Realtors occasionally request a TBD (To Be Determined) Commitment while they are marketing a property. TBDs can help a Realtor better understand the sta-tus of title and eliminate any surprises that might compromise the transaction. Beginning May 1, 2010, title entities must charge for TBD at the time the commit-ment is provided. The charge paid for a TBD may be credited back to the appro-priate party at closing.
Free products allowed
Title entities may provide, without charge, a single copy of the last recorded vesting deed on a property.
When issuing a commitment for title insurance, a title entity may give, without charge, copies of the supporting title doc-uments for the property.
New rules for classes for Realtors
A title entity may teach classes on any subject they feel qualified to teach.
The new rules, however, focus on which classes may be provided free of charge.
If a class is primarily related to the busi-ness of title insurance (e.g., commitments, policies, closings, etc.), it may be conduct-ed without charge to the attendees. This includes reasonable expenses for food and beverage and room fees.
If a class does not relate to title insur-ance (e.g., real estate marketing, real es-tate forms, etc.), then any costs associated with the class must be passed back to the attendees.
Here is an example of how costs must be passed back to attendees: Assume a ti-tle insurance company sponsors a class on Internet marketing for real estate brokers.
The company spends $200 on lunch, $50 on room rental, $10 on printed ma-terials, and
$40 on speaker fees, for a total cost of $300.
If there are 50 people taking the class, then each attendee must be charged at least $6 for the class.
If it costs a title company anything to perform or sponsor the class—even if the costs are minimal—the title company must pass back those costs.
If the same costs were associated with a class on how to read a title commitment, or what to expect at the closing table, there is no requirement to pass back any costs to the attendees.
New rules for open houses
A title entity may not give money or any other thing of value to a real estate broker or other settlement producer in exchange for an advertising benefit at an event. Title entities may participate in events if they maintain a physical presence throughout the event.
For example, a title entity may have a table at an open house with refreshments and the title company’s marketing materi-als if an employee of the title entity is pres-ent and engaging in the promotion of the entity’s services.
See 3-5-1 page 12
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 11
Local News
By Bill McAfeeEmpire Title—
Quarter over quarter...2009 vs. 2010
BEST OF THE BEST
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 PRODUCING REALTORS COLLECTIVELY, INSPIRING AND ENHANCING THE PIKES PEAK REGION BY GIVING BACK TO
THE COMMUNITY.
We Don’t Succeed Unless You Do!
The members who have joined Peak Producers have all met very specifi c professional and performance criteria:
Membership in the Pikes Peak Association • of Realtors
Outstanding volume of listing/sales • transactions (Top 10% minimum)
Strong motivation to support charitable • activities that give back to the Pikes Peak community
A willingness and desire to share their • networking skills, experience, and Real Estate knowledge to raise the level of professionalism within the Pikes Peak Association of Realtors
If you like good news, you will love this. I have gathered information from the Pikes Peak Multiple Listing System, the National As-sociation of Real-tors, the El Paso County Public Trustee, and the El Paso County Clerk and Recorder. Residential sales were up. Average sales price was up. Median sales price was up. With so many things going up, it can be depressing to say that things are going down. However, in this case it is fantastic. Months of inventories are go-ing down and the number of homes go-ing into foreclosure is going down. Here are the actual numbers and a forecast of things to come.
The number of sales were up 19%. (See slide #1) The average sales price was up 2.6%. (See slide #2) The median sales price was up 2.8%. (See slide #3) Months of inventories were down 20%. (See slide #4) The number of foreclosures decreased by 6%. (See slide #5) This is what happened in the past. I would like to discuss what is likely to happen in the near future.
94% of the residential sales in El Paso County were below $250,000.00 for the month of March. 79% of the sales in February were below $250,000.00 and 76% of the January sales were below $250,000.00. 40-50% of the sales in the PPMLS are bank owned or short sales. As foreclosures decrease, inventory will
increasingly come from new homes. It is difficult to build homes for $250,000.00 due to tighten lending standards and the price of dirt and development over the last ten years. There will be inventory and demand issues pushing the cost of homes up. This price push will be felt in the $250,000.00 and below price ranges. This will positively affect the $300,000.00 - $400,000.00 priced homes, but only to the extent that borrowers can qualify. Interest rates are still stable, but the con-sensus is they will rise. To what extent is uncertain. Our economy is sustaining itself because of the military, Homeland Defense, and research and development.
We have had a positive first quarter which will likely continue through sec-ond quarter. The first time homebuyer credit is due to expire at the end of June and contracts must be completed by the end of April. The effects of this program will boost our numbers through the sec-ond quarter. It is great to have something positive to talk about.
* 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.
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12 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
Local News
A Moment with Bob Schultz presented by New Home StarApril 8, 2010
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Jennifer Johanns Landon Lamley Lori Bautista Lori Sorrels
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Colorado Springs Office: 800.369.9261 • 719.570.8900
View and Post Your Events Online, Anytime. CSREJ.com
Reasonable title search and exam
All title insurance underwriters are required to create written standards for search and examination for use by title entities (underwriters and agencies). These standards must comply with sound underwriting practices.
This is actually not a new practice. Underwriters have routinely provided standards to their agents and direct in-surers; the new rule simply codifies the practice.
Generic (“garbage”) exceptions not allowed
A generic exception on a title commitment is defined as any overly broad exception that is not a standard or pre-printed exception.
Generic exceptions are sometimes refered to as “gar-bage” exceptions.
A generic exception does not refer to a specific record-ed document (e.g., “Any and all roads, easements, rights of way, etc.”).
These types of exceptions are only permitted in cases where the proposed insured on a commitment has made a written request for a policy form that makes use of them. For practical purposes, it is expected that generic excep-tions will only be used for refinance and junior lien trans-actions. Very few purchase transactions (i.e., owners’ poli-cies) will make use of these exceptions.
Aside from the standard or preprinted exceptions, all exceptions on a title commitment or policy must refer to the specific recording information on the document. If a document is not recorded, the title entity should refer-ence any identifiable information on the document. The identifiable information may include dates, names of par-ties, case numbers, and similar defining information.
Again, providing book-and-page exceptions is the in-dustry standard for reputable title insurance companies already, and Realtors, in line with keeping their fiduciary duties to buyers and sellers, generally steer clear of generic exceptions on owners’ policies. The new rules codify the standard for the purpose of offering additional protec-tions to the consumer.
Holding money
When a title insurance company collects money from clients or third parties, all money belonging to others must be deposited in a bank account that is separate from any other funds. This includes portions of premiums that will be sent to an underwriter, earnest money, loan pro-ceeds, escrows, etc.
This account must be labeled or named “fiduciary ac-count,” “trust account,” “escrow account,” or another similar name that identifies the account as one to be used solely for holding these funds.
A title entity is prohibited from mixing these funds with any others. A title entity is also prohibited from us-
ing the funds for any purpose other than what is set forth in writing for a specific transaction.
A title entity may deposit fiduciary funds (money be-longing to others) into a sweep account or any type of ac-count that uses that money as an investment or revenue generator.
The title entity must get written authorization from the owner of that money before depositing it into the ac-count. Not getting written authorization, or getting it after the money is in the account, will be viewed as a violation of the Regulation.
A title entity may earn interest on fiduciary funds as long as a disclosure is provided to all parties that interest has been or will be earned. The disclosure may be given at any time up to and including closing
There are additional rules for title insurance agencies that receive earnest money without written instructions.
Disclaimer: This publication is designed to provide ac-curate and authoritative information in regard to the sub-ject matter covered. It is distributed with the understand-ing that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal or ac-counting advice or other expert assistance is required, the services of a competent professional should be sought.
© Copyright, 2010, by land Title Guarantee Company. Reprinted with permission.
3-5-1 from page 10
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 13
On the Move
Brent McPhersonLand Title
Land Title Guarantee Company is excited to announce the addition of Brent McPherson in the Marketing and Service Development area. Brent joins Land Title with over 7 years experience in the Real Estate / New Home industry, 15+ years in marketing and a Mas-ters degree in Services Marketing. Brent en-joys the outdoors and spending time with his family! He currently is serving as the Chair of the Sales and Marketing Council at the HBA, HBA Board Member, and is the Cub Master for his neighborhood Scout Pack!
Art & Debbie DeBritoRealTeam Real Estate Center
Meeting in High School, Art & Debbie DeBrito never dreamed that between the military moves and corporate moves, they would have so many experiences buying and selling homes.
They have met both the best and the worst in the Real Estate business and feel they know what others are looking for in excellence and customer delight. Combined, Art and Deb-bie have more 9 years of experience in Real Estate sales.
Debbie's greatest ability is to find out what you like and then find the perfect home. Art has 30 years of IT experience and is better able to cover the technical end, contracts, and negotiation, which he does well. By combin-ing their expertise Art and Debbie DeBrito make a perfect team.
Because they do this together, they often work outside of the normal hours. Basically if they are awake, they can, or are working to-gether. That being said, call them anytime!
New additions toERA Herman Group Real Estate
We are pleased to announce that Ryan Blackburn, an experienced REALTOR, has joined the ERA Herman Group Real Estate team. He specializes in residential property in the greater Colorado Springs area. Ryan’s ex-perience has allowed him to develop a great knowledge of our real estate market. Regard-less if the property is large or if it is small, he gives each client his undivided attention.
ERA Herman Group Real Estate is excited to announce another real estate broker has joined its family of REALTORS, Kimberly Klapac. Kimberly is very knowledgeable in pricing properties to get the quickest trans-action, at the highest price with the lowest amount of inconvenience. Ms. Klapac also works very closely with mortgage profession-als to help her buyers find the right program for their needs. Kimberly knows that one size does not fit all. Real Estate is a very personal transaction. Kimberly Klapac looks forward to hearing from you.
Bill Havens, Managing Broker, recently shared with the ERA Herman Group team the addition of another broker to their fast growing organization, Greg Luczak. Greg has chosen to live in Colorado Springs be-
cause of the great quality of life. He enjoys the active Colorado life style. Regardless if he is working with a buyer or a property owner, Greg works to make sure that the real estate transaction is as smooth as possible. He is al-ways paying attention to the many details of real estate transactions.
We are pleased to announce that Grace Morris, an experienced REALTOR, has joined the ERA Herman Group Real Estate team. She specializes in residential property in the greater Colorado Springs area. Grace’s experience 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 his undivided attention.
ERA Herman Group Real Estate is excited to announce another real estate broker has joined its family of REALTORS, Theresa Carty. Theresa is very knowledgeable in pric-ing properties to get the quickest transaction, at the highest price with the lowest amount of inconvenience. Ms.Carty also works very closely with mortgage professionals to help her buyers find the right program for their needs. Theresa knows that one size does not fit all.
Bill Havens, Managing Broker, recently shared with the ERA Herman Group team the addition of another broker to their fast growing organization, Randy Johnson. Ran-dy has chosen to live in Colorado Springs because of the great quality of life. He enjoys the active Colorado life style. Regardless if he is working with a buyer or a property owner, Randy works to make sure that the real estate transaction is as smooth as possible. He is al-ways paying attention to the many details of real estate transactions.
We are pleased to announce that Shiela Calulot, an experienced REALTOR, has joined the ERA Herman Group Real Estate team. She specializes in residential property in the greater Colorado Springs area. Shiela’s experience 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 his undivided attention.
Lori BautistaBank of America
With almost a decade of experience in the lending industry Lori has been able to create a business based off of referrals from satisfied clients to realtors and other profes-sionals in the Pikes Peak Region. Her mis-sion is to become your trusted mortgage advisor and to help guide you through the many loan programs that will be available to you. Also to assist you in creating a financial strategy that will help put you on the road to your financial goals.
Landon LamleyBank of America
Landon has been a Mortgage Loan Spe-cialist since 1985. Learning this business from the bottom up Mortgage Lending has
become second nature to him. Landon has assisted thousands of people obtain their dream of Home Ownership over the years helping them to solidify their families and financial positions.
Landon remains committed to providing the best possible Customer service. When asked why a Borrower should work with him, Landon states “because I can guaran-tee the smoothest, most pleasant mortgage experience. We get things done in a timely organized manner and still have a bit of fun with it. I can provide a quick and successful transaction time frame that leaves all parties involved very happy.
Nancy TroutBank of America
Mortgage Loan Officer for 10 years spe-cializing in first-time homebuyers and cus-tomers who need financial counsel when go-ing through major life changes. I’m a graduate of Biola University and recently completed my MBA at the University of Phoenix. In a market that has many questions and few an-swers, I combine experience and business knowledge to guide you through the mort-gage process.
Jennifer JohannsBank of America
Jennifer has 7 years extensive background in mortgage originating, sales and market-ing, and brings with her the enthusiasm and attention to customer service that made her very successful in this profession. Jennifer understands the importance of a good re-lationship between herself and her clients. She realizes that comfort fosters trust which makes the mortgage financing process a most positive experience. As a Military spouse and a mother of two active children, she under-stands the importance of time management and flexibility. Jennifer is available to help you with your mortgage needs at a time that best suits you.
Mark and Nita PledgerMetro Brokers Downtown
Mark brings over 20 years of Real Estate experience to our team. After Mark earned a degree in Finance and Real Estate he then embarked on an Appraisal career for 15 years. He made the switch to Residential Sales as a broker associate 4 years ago.
Nita has a strong work ethic with her background being in information technology where she has worked diligently to provide the most thorough solutions and service to her clients. Nita brings that same diligence and work ethic to her real estate business and is committed to providing the same top qual-ity service and solutions to her customers.
Dominic DaSilvaMetro Brokers Downtown
Dominic brings over 33 years of interna-tional business experience to our team. He has strong negotiating and marketing skills and prides himself on his dedication and commitment to his clients. He is multi-lin-gual and familiar with most Indian languages. Having widely travelled all over the world and conducted business globally. Dominic truly has an international “big picture” per-spective while paying extraordinary attention to all the details involved when either buying or selling a home. Nothing satisfies Dominic more than seeing the smiles that come with a satisfied client.
Larry EimenMetro Brokers Downtown
Larry comes to us as a retired Officer from the USAF. He is very involved in volunteering within our community. Larry is very detailed oriented and pays very close attention to Real Estate contracts and gives his clients very close attention to their needs. Also enjoys working closely with our Military families.
New additions toRE/MAX Properties
RE/MAX Properties, Inc., Southern Col-orado’s largest real estate company, is thrilled to announce the addition of the following broker associates to our expert team!
McCuistion Johnson
Chadwick Crater Anderson
Taylor BeckettMacie Chadwick, Christina Crater,
Karen Anderson, and Matt McCuistion have joined RE/MAX Properties, Inc. at their North Office.
Jeff Johnson joined RE/MAX Properties, Inc. as the newest member of the Jeff Ryder Team at our North Office.
Michelle Taylor and Audrey Beckett have joined RE/MAX Properties, Inc. at our South Office.
Somebody newoffice?in the See Page 2 for details
14 Colorado Springs Real Estate Journal www.csrej.com April 26, 2010
Clarifying the confusion around 2010 RESPA changes
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By Jon PaukovichEnt—
We are now four months into the RESPA changes that took effect January 1, 2010 and ques-tions around parts of RESPA are still being clarified and answered by the Department of Hous-ing and Urban Development (HUD). Recently, HUD has an-swered three of the more persis-tent questions concerning pre-qualifications, preapprov-als, and worksheets. Details are as follows:
• Pre-Qualification -The final RESPA rule requires a loan originator to provide a Good Faith Estimate (GFE) within 3 business days of receiving an application. An application includes information the loan originator re-quires the borrower to submit in order to receive a cred-it decision. If a loan originator issues a GFE, the loan originator is presumed to have received all six pieces of information that RESPA defines as constituting an ap-plication. Thus, if a lender is pre-qualifying a borrower and does not receive all six pieces of information, it is recommended the lender not issue the borrower a GFE. Otherwise, the issuance of the GFE presumes the lend-er has received an application, which binds the lender to the GFE. The ability to amend the GFE because of changed circumstances would not apply to the missing
piece of information. This does not prohibit a lender from giving the consumer a pre-qualification letter on its letterhead, as long as the pre-qualification letter is not titled as a GFE and does not look like the GFE form.
• Preapprovals – In most cases, preapprovals are is-sued by lenders to borrowers who want to know if they can credit qualify for a mortgage to purchase a home. As noted above, RESPA does not prohibit a lender from providing a GFE to a consumer in a situation where the property address is unknown. However, HUD recom-mends against this practice because you can’t adjust the costs on the GFE based on the eventual determination of a property address. The lender assumed the risks of quoting fees associated with an undetermined property address. Nor does RESPA prohibit a lender from requir-ing a consumer to verify information provided in the ap-plication as a condition for providing a GFE. These two points together have made it difficult for the industry to determine whether issuing a preapproval is the right thing to do. However, preapprovals are important to buyers and sellers in the purchase money market. Lend-ers need to understand when issuing a GFE is required. If the six elements of an application are obtained, a GFE must be issued and a lender should never discourage a borrower from identifying the property address to avoid issuing a GFE.
• Worksheets - HUD is allowing loan originators to use worksheets in certain situations when a consumer wants information, but isn’t ready to apply for a loan. HUD has identified two different types of worksheets lenders are issuing to customers. One is a simple quote rate worksheet. The second type of worksheet is more comprehensive that further identifies fees and costs as-sociated with obtaining the mortgage. In either case, it is important lenders advise consumers that it is a work-sheet and not a GFE.
These new rules and regulations set forth by RESPA have created new challenges in our industry. Changes during the loan process can require additional waiting periods. It is important to stay current on these changes as they are still being clarified every day. A solid, reliable lender will keep up with these regulatory changes and make sure they are in compliance. They will also help borrowers understand the new processes and rules, like RESPA, when they are going through the loan process. The key to success is partnering with the right people; those you know you can trust and rely on regardless of changes in regulations.
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]
PPAR Wine & Beer TastingApril 7, 2010
April 26, 2010 www.csrej.com Colorado Springs Real Estate Journal 15
AprilWednesday, April 28Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
Friday, April 30Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
MAyWednesday, May 5REALTAC8:00am – 9:30am @ PPARHolly Skelton at 719-593-1000
Myths, Mistakes, and Mayhem in the Short Sale Process9:00am – 11:00am @ Empire Title719-884-5300 or [email protected]
Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
HBA Membership After Hours5:00pm – 7:00pm @ Ferguson Enterprises1545 Briargate BlvdColorado Springs, CO [email protected]
Thursday, May 6B.L.E.E.P. (Black Forest & Eastern Marketing Group)8:30am – 10:00amThe Grill at Latigo Trail Equestrian CenterRoxene, 495-6213
Friday, May 7Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
Wednesday, May 12REALTAC8:00am – 9:30am @ PPARHolly Skelton at 719-593-1000
HUD 1 Settlement Statements and GFEs8:30am – 12:30pm @ Empire Title719-884-5300 or [email protected]
Thursday, May 13Farm and Land8:00am – 9:30amMaggie Mae's RestaurantJim Crossey, 719-579-0404
The Do’s and Don’ts of The Foreclosure Protection Act9:00am – 10:00am @ Empire Title719-884-5300 or [email protected]
Women's Council of Realtors11:30am – 1:30pmEmbassy Suites HotelRenate Carrier, 888-313-5928
Friday, May 14Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
Wednesday, May 19Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
Advanced eContracts10:00am – 12:00pm @ Empire Title719-884-5300 or [email protected]
Thursday, May 20Colorado Springs Networking Group8:00am – 9:30amColorado Springs Country ClubRuthie, 719.492.3998
Hard Hat Tour: Lorson Ranch9:00am – 12:45pm @ Empire Title719-884-5300 or [email protected]
HBA Annual Trap Shoot11:30am – 4:00pm @ The Isaac Walton Gun [email protected]
Friday, May 21Pikes Peak Exchangers8:00am – 9:30amValley Hi Golf Course RestaurantJohnny Revious, 719-527-8838
Wednesday, May 26Wet Wednesday Class (Check cshba.com)11:30am – 1:00pm @ [email protected]
Thursday, May 27Farm and Land8:00am – 9:30amMaggie Mae's RestaurantJim Crossey, 719-579-0404
JuneMonday, June 7PAC / HBA Golf Tournament7:30am – 2:30pm @ Kissing [email protected] 719-592-1800
Saturday, June 12-13HBA Remodeled Homes Tour10:00am – 5:00pm @ Various [email protected] 719-592-1800
send
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Around the Corner
Lisa Rubick Celebrates 25 years with Land Title
Above: Ann Brown of Land Title, Beverly Hettler of Cutting Edge Realty, Lisa Rubick of Land Title, Barry Boals of RE/MAX Real Estate Group and Randy Slaybaugh of Land Title.
Above: Roger Collins of First National Bank and Brent McPherson with Land Title.
Above: Rich Feasel of Land Title and Ted Bachara of RE/MAX Properties.
Right: Amanda Cooper, Elizabeth Hall and Lisa Rubick of Land Title, Elizabeth Kim of The Masters Real Estate Group and Kris DeHerrera of Land Title.
Left: Phyllis Thurber and George Hess of Vantage Homes with Randy Slaybaugh of Land Title.
Left: Sara Martin of Land Title and Elizabeth Kim of The Masters Real Estate Group.
Building a whole new perspective.
Soaring Eagles - TownhomesFrom the $140sHomes Ready Now!
2-3 BedroomsHardwood & Tile FloorsAC in All HomesFenced, Private Yards2 Car Garages w/Opener
719.352.9998
Lorson Ranch - Single FamilyFrom the $190sHomes Ready Now!
3-5 BedroomsHardwood & Tile Floors3 Car Tandem Garage*5 Piece Master Bath*42" CabinetsFinished Basement*
719.440.0830
Meridian Ranch - Single FamilyFrom the low $200sHomes Ready Now!
3-6 Bedrooms3-4 Car GaragesGranite Counters Hardwood & Tile Floors
719.304.4919
Forest Meadows - Single FamilyFrom the low $200s3-6 Bedrooms3-4 Car GaragesHardwood & Tile Floors
719.304.4919
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2)
3)
4)
* Varies by plan. See builder for details.
25
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87
Fort Carson
S Powers Blvd
Woodmen Rd Mer
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n Rd
Powers
Powers
Drennan
Hancock Expy
S Academy
Fontain Blvd
Markshe�el Rd
Markshe�el Rd
21
Mesa Ridge Pkwy
1
3
4
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4% Commission on Sales Price.
We appreciate our local Realtors.
Homes Ready Now!
3543 Bay Owl Gr.
$149,195Andor Plan: 2 Bedrooms, 2.5 Baths, AC, 2 Car Garage, Private Courtyard.
Soaring Eagles (1)
5117 Hawks Crest Pt.
$166,195Griffin Plan: 3 Bedrooms, 2.5 Baths, AC, Fireplace, 2 Car Garage, Private Courtyard.
Soaring Eagles (1)
10497 Mt. Evans Dr.
$235,995The Rocky: 3 Bed w/Loft, Main Level Master, Full Unfinished Basement, 3 Car Garage.
Meridian Ranch (3)
7123 Red Cardinal Loop
$195,995The Hallberg: 2-Story, 3 Bedrooms, 2.5 Baths, Kitchen Island, 2 Car Garage.
Forest Meadows (4)
