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Park Avenue Properties Of Colorado Springs LLC : 2316 N. Wahsatch Ave. #116 - Colorado Springs CO 80907 : 719-548-9900 |
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Park Avenue Properties : 2316 N. Wahsatch Ave. #116 - Colorado Springs CO 80907 : 719-548-9900 |
Welcome to a WARM Autumn! It seems that we are inching towards cooler winter weather. We truly experienced such a pleasant warm Summer that we are curious to see what the Winter may have in store for us? We wanted to take this opportunity to keep in touch as well as to update you on all on the many changes going on in the Real Estate and Mortgage World. Unfortunately the media is not reflecting important detailed information. It keeps changing every day and the large news media channels are making generalizations, as if what they are reporting applies to every single state.
So to make a long story short, we have summarized the facts as it is applicable to us Coloradoans. Many of you have contacted us regarding Bank of America and several other of the country's large mortgage servicers that made announcements last week to halt all foreclosure actions in all 50 states - This is True, but only in states where the court system handles foreclosure actions. Please keep in mind that in the state of Colorado we have a "Non Judicial" foreclosure process that is handled by a public trustee, so we are not as impacted as states like Florida and Connecticut for
example that utilize the "Judicial process" (courts) for their foreclosure process, so these states and others will experience a much different impact.
Mortgage interest rates continue to remain at record lows. The average rate for a 30-year, fixed-rate mortgage for the week ending last Thursday was 4.19%, and 3.62% for a 15-year-fixed, according to Freddie Mac. In January, the average 30-year-fixed rate was 5.09%; two years ago, rates hovered at about 6%. If you were to purchase a median-priced home ($178,600) at last week's 4.19% rate for a 30-year fixed-rate mortgage, your monthly payment (P&I) would be $872, according to Bankrate.com. Park Avenue can help you to take advantage of this once in a life time opportunity to consider a re-finance or to purchase a home or investment property.
Another subject that continues to be misunderstood and represented, or should I say forgotten by the media is The Mortgage Debt Relief Act of 2007 that has been extended and is in effect until 2012 to ease the burden of taxpayers in default, foreclosure or repossession. Debt forgiveness (under this act) becomes a Cancellation of Debt. In simple terms and keep in mind it varies by state and situation but there are a couple of situations where the tax liabilities may be set aside and no tax liability exists: 1) if the home owner has a hardship and documents it with the lender and a modification is denied. 2) An investor is insolvent and files with the IRS on their prescribed form, the 1099-c will not cause a tax liability.
Should you have further questions or know of anyone that may need help with a short sale, foreclosure or have a financial hardship, keep in mind that our team has specialized training and we are Certified Distressed Property Experts and can offer assistance throughout the entire process. We work directly with all lenders on the homeowners behalf and have tax accountants and an attorney on our team that are familiar with the Mortgage Debt Relief process and the required IRS forms.
Park Avenue Properties is in a unique position to provide superior services to guide you in all your real estate endeavors including Property Management, Commercial and Residential Sales, and Real Estate Investments. We have remained abreast of the changes and stay up to date daily as market conditions dictate.
We appreciate your support and referrals that have allowed us to grow our family business and network of friends.
Kindest Regards,
The Park Avenue Properties Team
5755 Darien WY $493,000 Beautiful Colorado Springs Home In Mountain Shadows
For More Information On This Colorado Springs Home Click Here Park Avenue Properties Tanya Stevenson-Becht & Sandy Daniels 719-548-9900 office@parkavehomes.net
Autumn is in the air! With October just around the corner, there are activities for all to enjoy during the breathtaking Fall season!
Haunted Hay Ride - Hang on for the ride in the creepy, Halloween night! Locate in Platteville, this good old fashioned scary fun is for the entire family. This memorable hay ride will surely amuse and spook you at times through the ghostly labyrinth of corn. Every year this event is different, so make those reservations soon! Boo at the Zoo – Trick or treat at the Cheyenne Mountain Zoo! This Halloween celebration is fun and safe for the whole family. Gather up the kids and collect treats at over 20 spooky treat stations or visit giraffes, gorillas, and the lion’s lair as select animal exhibits will be open. Enjoy the carnival games and check out the Boo Carousel along with the Swamp Monster’s Slime Factory! 
Oct 10- Oct 31
Oct 22-24 and Oct 29-31
Oct 1- Nov 30
Breast Cancer Awareness - At the office of Dr. Michael W. Shields, DDS, FREE teeth whitening will be given to anyone making a $100 donation to the Komen Southeastern Colorado Affiliate. Join in the fight against breast cancer that touches so many lives.
Pink Ribbon Pie at Village Inn – Who would have ever thought giving would taste so good! At Villiage Inn Restaurants, the classic French Silk Pie with pink ribbon sprinkles will be served for $11.99, and $1 of that will be donated to the Southeastern Colorado Komen Affiliate. Bring the family or friends and stop by a Villiage Inn near you! 
Oct 1- Oct 31
Oct 3- Oct 8
Fall Bible Conference – It is time! Victory World Outreach, a family ministry center located by the Hancock Expressway and on Academy Boulevard, is having their yearly International Conference. This year- “Disciples In The Making”. During this exciting week, Preachers and churches from all over the U.S to Canada, Singapore, Costa Rica, and around the world, come together to receive a great Word from God. Bring the entire family and friends to this unforgettable experience and time of fellowship. You do not want to miss it! You are gauranteed to leave changed and encouraged!
"I cannot endure to waste anything as precious as autumn sunshine by staying in the house. So I spend almost all the daylight hours in the open air.”
- Nathaniel Hawthorne
Park Avenue Properties
Tanya Stevenson-Becht & Sandy Daniels
719-548-9900
office@parkavehomes.net
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