Colorado Springs, CO

Colorado Springs Realtor - Cherise Selley - Carbon Monoxide Detectors

07-03-09

Cherise Selley

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

Warranted or Excessive Regulation?

As of July 1, 2009, Colorado law requires that Sellers assure that their property has an operational carbon monoxide detector installed within fifteen feet from the entrance of each bedroom or in other specified locations per building code regulations. This improvement must be in place prior to offering the property for sale or for lease.

Of course, expect some hiccups with the introduction of this new law. The good news is that the carbon monoxide alarms do not have to be hard-wired for installation. The bad news is that one might expect to see a shortage of carbon monoxide detectors, especially when Sellers begin to make this regulatory conversion.

Regarding the new law about carbon monoxide detectors, I actually see more upside than downside. The costs for installation should be minimal. And the need for this system makes sense in terms of our consciousness about home protection since the advent of smoke alarms and radon testing.

It's important to realize that smoke detectors do not work as carbon monoxide detectors or visa-versa. Each system functions differently and both offer considerable safety benefits.

For more information about Colorado Springs Real Estate from the perspective of a Colorado Springs Realtor, please visit cheriseselley.com...

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CreekStone Homes: Test drive your new home

06-30-09

CreekStone Homes

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Office: (719) 593-1515 x204

Mobile: (719) 287-8242
Secondary: (719) 598-3360

Your Tour Awaits!
Would you buy a new car without taking it for a test drive first? I didn't think so. Just like buying a car, there is no better way to "test drive" a neighborhood or your next home than by making a personal visit.

I invite you to visit any one of our neighborhoods in Colorado Springs. You'll be able to get a better feel for the overall character of the neighborhood, experience what life is like inside a CreekStone Home and see the variety of home choices offered... for yourself!

For a limited time we will invite your family to enjoy an evening meal in one of our furnished inventory homes to get a feel of what life is actully like in one of our CreekStone Homes

(certain Restrictions Apply). Contact any of our locations through out the Colorado Springs area.

CreekStone Homes Locations

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Colorado Springs Realtor - Cherise Selley - Tax Assessor Rates

06-29-09

Cherise Selley

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

This isn't really enlightening news for those who practice Colorado Springs Real Estate. Commonly, there are significant discrepancies regarding the value of one's residential property as it is based on the market approach to value by the El Paso County Tax Assessor and appraisals performed at the request of mortgage companies, banks and other lending institutions.

Typically, the appraisal data used by the El Paso County Assessor includes the consideration of market cost and income to value over an 18-month period of time. And for 2009, this 18-month period ended June 30, 2008, and the assessment rate for residential property was projected at 7.96%.

Something confusing to everyone, especially the common person who is a homeowner, involves how his or her residential property shows an increase in value by the tax assessor, and yet, appraisers who are contracted by the banks and lending institutions continue to devalue properties by analyzing the single/patio homes from the perspective of a declining market.

This logic contradicts both the El Paso County Assessor's summation of the tax rate as well as the calculations of home values by independent appraisers in Colorado Springs and the surrounding areas.

Unfortunately the deadline to protest the formulated tax rate by El Paso County for this year was June 1^st.

However, one might want to consider appealing these types of tax discrepancies when receiving annual assessor reports in the future. For instance, if one owns a single residential home around the $389,221 actual value for 2008, then the assessed value of 30980 is then multiplied against the mill rate of .059341 for estimated taxes of about $1838.38. When applying the tax rate of 7.96% for the same home for 2009, the actual value increases to $416,466, whereby the assessed value of 33150 is then multiplied against the same mill rate of .059341 for an outcome of estimated taxes of $1967.15. The difference between 2008 and 2009 is simply an increase of $128.77.

For many, to protest the tax classification and/or valuation of the property might not be worth the time, energy and resources in the long run. But if one owns several investment properties, then the rights to appeal certainly should be considered financially. Because of the changing demands of the market, I certainly consider it prudent to evaluate the tax assessor reports annually and to appeal any discrepancies if warranted.

For more information about Colorado Springs Real Estate from the perspective of a Colorado Springs Realtor, please visit cheriseselley.com...

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Colorado Springs Realtor - Cherise Selley - Don't Give Into Panic

06-27-09

Cherise Selley

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

Listen to the panic around you? While many people are furiously scrambling to figure out how to make ends meet and how to solve very complex problems, sometimes making a home purchase is the very last thing on their minds. Yet, this might be one of the essential factors required to reconstruct their lives, even if everything around them feels out-of-whack.

Instead of giving into panic and fear, let me encourage you to take some small, but courageous, steps toward financial/personal recovery. When trying to tackle oversized problems, like home ownership, the challenges aren't necessarily to find the one and only perfect solution or to get things back to the ways of yesterday. In fact, this probably will not happen for many who have this financial and/or real estate expectation. And unmet expectations simply lead to bitterness. To reconstruct during these times first means to counteract fear and intimidation with an open mindset toward wisdom.

And relative to the Colorado Springs Real Estate market, there are some foundational realities to help you to appropriately acquire sustainability in this new economy.

For example, when listing your home, in all likelihood, your standard of expectation about your home's value is probably higher than what's realistic in this particular market. And if your single family home is under $400,000, 35% of listings in this price range sell within 0-30 days. So if your home is priced competitively and you've taken the extra measures to list your house properly, then a 1 out of 3 possibility exists to sell your home expeditiously. This framework of time will allow you to maneuver throughout the market with some flexibility. If you feel as if you've lost some money by listing your home in this market, just remember that you'll probably recoup some of your perceived losses by making it up on the buying side of the next transaction. Having additional knowledge and using these principles practically opens the doors to reconstruct financially in the Colorado Springs Real Estate market.

For more information about Colorado Springs Real Estate from the perspective of a Colorado Springs Realtor, please visit cheriseselley.com...

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Colorado Springs Realtor - Cherise Selley - A Great Place To Live

06-26-09

Cherise Selley

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Office: (719) 598-5101

Mobile: (719) 337-9779
Secondary: (888) 842-4196

As much as I love the coastal areas of the United States, I feel very fortunate to live in Colorado Springs, Colorado. At heart, a growing fascination for the underwater world exists, yet I'm inclined to make my annual visits to warm climates with tropical waters instead of taking up residence in these locations.

Have you noticed the dramatic meteorological changes over the past few years around the country? Warmer places have become unbearably hot. Coastal areas are constantly experiencing the unpredictability of hurricanes, earthquakes, fires, high winds and extreme deprivation of rainfall. Vacation time sounds good to me to visit these areas.

As for Colorado Springs, this area has been selected as one of the best cities in which to live in the United States. Four seasons occur, flaunting its magnificence during the changing cycles and luring people to its awestruck beauty.

Regarding the Colorado Springs Real Estate market, single family homes are still priced affordably. For El Paso County during the month of May 2009, the median sales price was $189,900 and the average sales price was $222,231.

Don't be surprised to see an increase in the relocation business as more people from all areas of the United States are keenly recognizing the benefits of living in the grandeur of this beautiful place.

For more information about Colorado Springs Real Estate from the perspective of a Colorado Springs Realtor, please visit cheriseselley.com...

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