The Problem With T-Lock Roof Shingles

T-Lock Roof Shingles were widely used on Colorado Springs homes and other areas where high winds were a problem, but were discontinued sometime around 2004. Until recently, insurance companies were still insuring homes with these type of roofs. However, over the past few years and due to wind and hail damage claims, most insurance companies have stopped writing new coverage for these because when there is damage, it is not able to be repaired and the entire roof must be replaced.

The few insurance companies left that will still cover these types of roofs will only cover them at depreciated value and since most remaining roofs are now close to 10 years old, the amount of coverage that would be provided on an actual cash value will cover very little after the deductible has been met.

For those of you looking to buy a home, keep this in mind as this issue is sometimes not brought to the home buyer’s attention until the home has closed and the new home owner gets a notice from the insurance company that they are going to cancel the insurance policy due to the roof being ineligible.

For those of you who do not know what a T-Lock roof looks like, I have included a picture. They make a distinctive T shape by the means that they lock to each other.

If you are interested in a home with this type of roof, you should talk to your realtor about this issue before the negotiating process with the seller or beware of the possibility of having to replace the roof yourself.

Updating Your Home to Get the Biggest Bang for Your Buck!

At an open house this weekend, I had many people that visited tell me they wanted to update their older home before they put it on the market so they could get the most “bang for their buck”. I thought this would be a good time to share the “inside scoop” of what many home buyers seem to be looking for in the decor of the home they purchase. Keep in mind that people are all unique and what is pleasing to one person, certainly may not be pleasing to another. That being said, there are colors and styles that appeal to a larger portion of the population than others. This is why if you go into ten different model homes, most of them will have similar color themes and styles.  It may not be what you would have in the home you are living in, but when putting your home on the market, it is in your best interest to appeal to the masses.

I’ve noticed a huge trend sweeping Colorado Springs right now. Investors have been gobbling up many of the Short Sells and Foreclosures that have been flooding the market, completely updating the homes with paint inside and out, new flooring throughout, new counters in the kitchen and bathrooms as well as new modern backsplashes that give an older kitchen a modern look and then selling the homes for a nice profit. While you can’t blame someone for making an honest living, this makes it difficult for a home that has not been updated able to compete with these “Fix n Flip” houses. That being said, it is more important than ever to invest a little money and elbow grease in your home so that buyers can see its full potential. 

You should keep in mind while you are planning and budgeting to update your home, there is something called Point of Diminishing Return, which put simply, means that a you can only raise the value and price of your home to a certain degree, regardless of how much money you spend on updates, at a certain point you will be putting more money into a home than you may be able to get back out of it. This is because much of your home's value will depend on things you can’t change, such as the location, age, housing market, and many other factors. Obviously, this rule is not always as cut and dry, such as when you are updating a very custom home in a neighborhood where the home prices may differ from each other by hundreds of thousands of dollars. But when speaking about a typical Colorado Springs neighborhood track home, there is a definite Point of Diminishing Return. You certainly don’t want to put more money into your home than you will be able to recoup and hopefully make a profit from. The key is to find the sweet spot in the areas that pack the biggest punch to help it stand apart from the other homes for sale in your neighborhood. Furthermore, doing some improvements may mean the difference between selling your home in a reasonable amount of time, or taking much, much longer to sell and with many price drops. During the planning and budgeting phase is also a good time to have a Competitive Market Analysis (CMA) done for your home. A CMA is research that is done on homes in the area that are for sale and that have sold in the last few months to give a clearer picture of the price range you can expect your home to sell for. The Colorado Springs home market changes rapidly, so it is important to see what your home is worth currently, rather than what someone quoted you six months or a year ago.

Updates that pack a big punch:

• A Fresh Coat of Neutral Paint Through-out Your Home. Your space will appear much larger if you can resist the urge to paint each room a completely different color. A light tan color with white moldings and doors is ideal.

• New Flooring- Next to Paint color, the biggest surface in your home is your floors and even though it is a significant investment, it packs a huge punch in the presentation of your home. Avoid colors that are too dark OR too light. An economical alternative to tile on the floor in the kitchen and bathroom is a new vinyl flooring product that looks and feels just like tile. It even has grooves for the "grout". Some of it is such high quality that you have to really feel it to know the difference. The big price savings in this is the labor involved with tile rather than vinyl flooring. Remember; keep it neutral and not too dark.

• Update the bathrooms and kitchen without completely replacing everything! -There are ways to update your kitchen without spending a fortune. If you aren’t willing to shell out the big bucks for the expensive granite that buyers jump for joy over, even replacing an old outdated Formica countertop with the new modern version that has the look of granite is an economical choice. Top it with a coordinating glass tile backsplash and you’ve got a customized look that will do wonders for you kitchen without breaking the bank. If your bathroom and kitchen cabinets are old and outdated, but still structurally sound, gently sand off just the gloss, clean thoroughly with a degreaser and either paint them white or use a good gel stain to make them a popular Java or Espresso color then ad brushed nickel door hinges, knobs, and pulls -don't skimp on the pulls and hinges as these really do make a big difference and are noticed by home buyers.

• Replace Brass Light Fixtures with Brushed Nickel -Lowes and Home Depot often have clearance fixtures that will do the trick for a modest price.

If you're not ready, willing, or able to do all of the suggested updates, just doing one or two of these can make a difference. There are also things that you can do to make your home show better that won't cost you a penny, such as cleaning, de-cluttering, and getting rid of excess furniture. Rooms with too much furniture or furniture that is too large for the space makes the room feel smaller than it actually is. Smell is also very important while your home is on the market. Oders from smoke, pets, or garbage are big turn-offs for buyers.

If you are planning on selling your home in the Colorado Springs area, or are still in the planning stage, give me a call (719) 357-1023 or email me! I would be happy to provide you with a free Competitive Home Analysis, and come to your home to give you some ideas on preparing for the housing market. Mention my blog and I will tell you how I can save you money on commission while still marketing your home at the highest level.

National Open House Weekend April 20 & 21

Don’t miss the National Open House Weekend coming up on the 20th and 21st of April. Realtors from all over will be hosting open homes for public viewing. Times are typically from 1pm to 4pm but may vary depending on the home and Realtor. If you are just curious, or have been thinking of buying a home or selling your current home, this is a great opportunity to sample what is going on in the housing market!

The Pikes Peak Association of Realtors (PPAR) is having a Sweepstakes and giving away prizes for this event. Please go to the PPAR Website for more information. On their site, you will also be able to access a list of where the Open Houses will be. You should wait until the date draws closer as many Realtors haven’t notified PPAR of the properties that will be participating yet.

Mark it on your calendars, and I hope to see you at the home we will be hosting at 3090 Oro Blanco Drive, Colorado Springs, CO 80918! If you have any questions, please email me or call me at (719) 357-1023. I would be happy to help you in any way possible.

What Real Estate Agents Do for Buyers

 

Buying a home can be an overwhelming experience, especially for first-time home buyers. You may think a Buyer’s Agent's primary function is just to drive their clients around and unlock homes for them to look at. But the brunt of the work that a good Realtor does comes after you find the right home. Of course, helping you in the home search and really listening to your likes and dislikes IS an important part of their job, but it doesn’t end there.

A good Buyer’s Agent will explain the contract to you and make sure you understand its contents. One of the most important jobs of a real estate agent is to negotiate a good deal on your behalf. They should be willing to educate you on the housing market and give comparisons on other homes that have sold, how long a house has been on the market, what houses haven’t sold, and any other activity going on in the housing market. In the end, it is up to you what price and terms you wish to offer, but you should be able to rely on the Buyer’s Agent to provide accurate information and advice. They should help you to make informed decisions about negotiating while putting your best interest above all others.

After the contract has been negotiated and both parties have signed on the dotted line, the Buyer’s Agent should help to make sure the many things that need to be done before a home can close are done within the deadlines. Many contracts fail because deadlines are not met on time. There are deadlines for loan approval, deadlines for disclosures, inspections, objections, and the list goes on. Since the Contract to Buy and Sell is a legal document, missing a deadline is defaulting and could potentially cause the buyer to lose their Earnest money. You should be hearing from your Agent often with updates and reminders about what is going on and guidance through what you should be doing during your home purchase.

You will need the service of many professionals such as lenders, home inspectors, title companies and appraisers during your home purchase. While it is illegal and imprudent for a Realtor to tell you which one to use - it could leave them liable for that person’s actions - a good Buyer’s Agent should have a list of trusted professionals to give you with a few choices for each category and their contact information.

A good Buyer’s Agent should be with you until the very end - the closing. They should be there to answer any questions you have and make sure you are represented even at the closing table.

These are just a few of the things that a good Buyer’s Agent should be doing during the home buying process. Has this been your experience?

If you are interested in buying a home in Colorado Springs or the Pikes Peak area, I would be more than happy to help you. I hope you will give me the chance to exceed your expectations! Please call me at (719) 357-1023 or email me.

Is a Down Payment Keeping You From Buying a Home?

 

If you have been holding off on buying a home because you don’t have enough for a down payment, now is the time to take advantage of a program called “Turnkey”.  You don’t have to be a first-time homebuyer, but your yearly income must be less than $88,900 and the maximum purchase price $283,000. You also don’t have to have perfect credit with a minimum 640 FICO score.

If you or someone you know has been renting while saving for a down payment, the wait is over. Since mortgage rates are incredibly low and rent in Colorado Springs is at an all-time high, mortgage payments are significantly lower than rent right now. For more information, visit El Paso County “Turnkey”Origination Mortgage Program.

I would be more than happy to help you find a lender and search for your new home. If you are an active or retired military member, ask me about my MilitaryAppreciation Cash Back Program. If you have any questions or if I can help you in any way, please email me at JulieLopezRealtor@gmail.com

What Is Colorado Springs Like?

My family and I moved to Colorado Springs nine years ago from California. We truly love it here. For those of you who are thinking of moving or visiting, I thought it might be nice to put a short summary together to give you a better idea of what to expect.

Weather and Climate                                                                            

Kissing Camels Golf Course

There are over 300 days of sunshine to be enjoyed in Colorado Springs annually. At an altitude of 6,035 feet, the climate of Colorado Springs and the Pikes Peak region is warm in the summer and moderate in the spring, fall and winter. Classified as an "alpine desert," the dry, clean air was once a destination to heal tuberculosis patients. Today, visitors enjoy the climate because it allows for year-round outdoor recreation. Summers are dry with temperatures in the 80s to mid 90s, with cool nights in the 60s. Spring and fall temperatures range from the mid 50s to the low 70s and winters here can be white, but normally the snow that does fall melts quickly and reveals a sunny sky again. Winter temperatures range from the low 30s to upper 40s. The yearly average snowfall is 37" and yearly average percipitation of 17.4". The average humidity is 63% in the morning and 40% in the afternoon.

Cultural Facilities                                                              

The Pikes Peak region has a wide variety of museums, performance centers and visitor centers to visit. These include the Colorado Springs Fine Arts Center, the Colorado Springs Pioneers Museum, The Pikes Peak Heritage Center, McAllister House, Miramont Castle, Glen Eyrie Castle and Focus on the Family Visitor Center.



Attractions and Activities

Visitors can enjoy over 55 natural and man-made attractions including the U.S. Air Force Academy, U.S. Olympic Training Center, Royal Gorge Bridge & Park, Pikes Peak - America's Mountain, Seven Falls, Cave of the Winds and Cheyenne Mountain Zoo. The region also offers whitewater rafting on the Arkansas River and biking, hiking and horseback  riding through Garden of the Gods Park.

Size and Population

Covering194.7 sq. miles, Colorado Springs is the second largest City in Colorado and the largest city in the county of El Paso. It has a population of 426,388 and a Metro population of 604,542.

 

Education                  

The Pikes Peak region is home to several public, private, and charter schools and is ranked 4th in the United States with people who have high school diplomas, according to the U.S. Census Bureau. There are many private and public universities and trade schools available.

HealthCare                                                   

With the active lifestyle of the Pikes Peak region, employers are benefited by lower absenteeism and overall better health of employees. Many health care providers offer wellness programs that employers can use in the workplace. Colorado Springs is home to some of the finest hospitals, physical therapy institutions, and surgical centers in the region.

Employement

Home to thriving businesses, high tech companies, military installations, and non-profit organizations, Colorado Springs is proud of it's healthy economy and high quality of life.

Colorado Springs has received praise in numerous magazines and news sources:

Top Ten Awards:
#1 Men's Fitness "Fittest City in America
#1 Money "Big City's to Live In"
#1 Forbes "America's Most Pet-Friendly City"
#1 Men's Health "Best Cities for Dogs"
#3 Earth Day Network "Best Places to Live
#4 Frommer's Travel Guide "Cities Ranked and Rated"
#5 Kiplinger's Personal Finance "Best Cities to Live, Work and Play"
#5 MSNBC "Best Cities to Live, Work and Play"
Top 10 U.S News and World Report "Green Places to Retire"

Much of my data was collected from the Colorado Springs Chamber of Commerce and visitcos.com. The information provided is deemed accurate but not guaranteed.

If you are considering buying or selling a home in the Pikes Peak area, I would be happy to help in any way I can. I have a Relocation Packet full of usefull information about Colorado Springs. If you would like me to send one to you, please visit my website or email me. I understand that you may just be looking or in the beginning stages of your home search and I will respect your privacy.

Military Appreciation Cash Back Program

To express my appreciation to our military members, I offer a military cash back program if you allow me to help find your Colorado Springs home. If you are active duty or retired military purchasing a home in the Colorado Springs area, you qualify for my military cash back program and can receive up to $1,750 cash back.  If you end up purchasing and selling a home with me, you will receive up to $3,500 cash back.     

Price of Home	My Cash Back Rebate	USAA’s Rebate
$50,000-$99,999	$550	$350
$100,000-$149,999	$850	$650
$150,000-$249,999	$1,150	$950
$250,000-$399,999	$1,450	$1,250
$400,000+	$1,750	$1,550

*The military appreciation program is not available for individuals who are participating in a corporate relocation program or as part of a Realtor referral. Please contact me for more details regarding eligibility.

Benefits of my military appreciation program over USAA’s Mover Advantage and other programs;

 1.  Higher cash rebate

 2.  My military appreciation program is extended to all active duty military and retired military members

3.   You will receive a complimentary Colorado Springs relocation packet which provides outstanding information about the Colorado Springs area.

4.   I use e-contracts, which is an internet based contract system. This system has proven to be extremely beneficial to out-of-state military clients. If any contract issues arise when you are not here in Colorado Springs, I can email you the contract so you can sign it online.

5.  I can provide you with a network of trusted lenders, inspectors, contractors, and other resources needed to help assure a smooth real estate transaction.

6.  I use advanced technology and internet based tools to personalize your home search and reduce the time it takes to find the perfect home when you actually come to Colorado Springs. You will receive a personalized home search website that will pull homes that fit what you are looking for directly from the MLS system. Your personal website will let you know whenever there are new listings that fit your criteria or any price or status changes to the listings that you have on your website. This is a powerful tool that will save you time searching by doing all the work for you. You will also have complete access to search the MLS on an interactive map.

7.  I am a full-time, dedicated professional in Colorado Springs, so you are guaranteed that you are receiving the utmost in professional buyer services with un-waivered ethical values.

8.  I will be your Buyer's Agent, and you will not be handed off to another agent. With other programs you get a Realtor that is assigned to you without a say. Programs like USAA's claim they pre-screen the agents which is not 100% true. They outsource their program to a third party who does not “screen” individual Realtors rigorously but rather has a contract with a few local Real Estate companies who will then distribute your information to their agents. As a result, you have no say or guarantee as to the quality of agent you get to work with.

 

     I would be more than happy to answer any questions you may have. Please visit my website or email me for more infomation.