If you are looking to sell your Colorado Springs home, you now need to make sure that you have Carbon Monoxide (CO) detectors in your homes.

What is Carbon Monoxide?

Carbon Monoxide is an odorless, colorless gas that can have harmful - fatal effects on humans and pets.

According to the Environmental Protection Agency (EPA),

“Carbon monoxide is an odorless, colorless and toxic gas. Because it is impossible to see, taste or smell the toxic fumes, CO can kill you before you are aware it is in your home. At lower levels of exposure, CO causes mild effects that are often mistaken for the flu. These symptoms include headaches, dizziness, disorientation, nausea and fatigue. The effects of CO exposure can vary greatly from person to person depending on age, overall health and the concentration and length of exposure.” (EPA.gov)

“Carbon monoxide is the leading cause of accidental poisoning deaths in America. This odorless, tasteless, and colorless gas is known as the “Silent Killer.” The Centers for Disease Control estimates that carbon monoxide poisoning claims nearly 500 lives, and causes more than 15,000 visits to hospital emergency departments annually.” ( eMedicineHealth.com)

What IS the new Carbon Monoxide Detector Law?

Colorado House Bill 1091 (HB-1091):

“Requires any existing single-family dwelling or dwelling unit of  an existing multi-family dwelling offered for sale or transfer on or after July 1, 2009, that has a fuel-burning heater or appliance, a fireplace, or an attached garage to have an operational carbon monoxide alarm installed within a specified distance of each room lawfully used for sleeping purposes.”

What does this mean for Colorado Springs home sellers?

If you are looking to sell your Colorado Springs home, you will need to install (or have installed) a Carbon Monoxide detector. Here are the basics of this new law.

A Carbon Monoxide detector …

• must be installed 15 feet of every room lawfully used for sleeping, and
• must be hard-wired or plugged into a non-switch outlet and have a battery back-up, and
• must produce a distinct, audible alarm.

Read ALL the Requirements Here: Colorado House Bill 09-1091

Right now, Colorado Springs Realtors® may be able to get some great discounts on Carbon Monoxide detectors for their Seller clients. If your home is currently listed, ask your agent for how they can help.

Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs
(719) 434-7525

Okay, actually these are random facts for ALL of the United States, but there are a lot of similarities between both national and Colorado Springs home buyers . These are all statistics from the National Association of Realtors® studies and research…

• Nearly one-quarter of first-time buyers are single females who purchased their first home on a median income of $47,400.
  Are YOU a first time home buyer in Colorado Springs? Check out: Use Your $8000 Tax Credit as a Down Payment on Your Colorado Springs Home Purchase!
  
  
• The typical buyer spent $4,350 on home improvement projects within the first three months of their home purchase.
  A lot of home buyers see “potential” in a home and spend money to “make it their OWN” as soon as they close.

• Repeat buyers typically spend more than first-time home buyers ($5,330 compared to $3,070).
  Many first time home buyers have used up all their “disposable” income just to BUY the home and have little left for “improvements”  whereas more repeat home buyers can use some of the equity they had in their previous home to fix up their new home.

• Twenty-eight percent (28%) of first-time buyers spent less than $1,000 on home improvement projects.

• Buyers who purchased new homes typically spend slightly more than those who purchased previously owned homes.
  Some costs associated with a new home purchase include: landscaping, fencing, window coverings and repainting stark white walls with something more …. warm.

[The last 4 statistics were taken from the article: Did You Know: Cost of Home Improvement by NAR (There is a cool chart in this article, too.)]

Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs
(719) 434-7525

A Colorado Springs HUD home is a single family residence (or duplex, tri-plex or 4-plex) that has been acquired by HUD (US Department of Housing and Development) as a result of a Colorado Springs foreclosure on a FHA-insured mortgage.

Once the home has gone through the entire foreclosure process, the property gets listed on the local Pikes Peak MLS as well as on the Colorado HUD Homes For Sale website.

HUD homes can be in various states of repair - ranging from great condition to homes that need quite a bit of help. If you are interested in a home that needs repairs, there are FHA Loans* that you may qualify for that enable HUD home buyers the ability to purchase the home and include funds to help cover the cost of the needed repairs.

*The 203(k) and the Streamline 203(k) loans allows the home buyer to include extra funds into their new FHA loan to cover rehabilitation, repairs, improvements and upgrades. Read More: About HUD and FHA 203(k) Rehab Loans

For more information on these types of loans, contact HUD directly for a list of a local FHA-Approved Lenders who offer the 203(k) loans: 1-800-CALL-FHA

HUD prefers to sell the homes to people looking to live in the home - as opposed to selling them to investors, so the homes will only be available to owner-occupants for the initial period of time.

Your Colorado Springs real estate agent can help you locate HUD homes for sale in different areas of Colorado Springs, Monument, Fountain and Manitou Springs and submit an offer on your behalf.

Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs
(719) 434-7525

Sometimes we need to peek outside of our Colorado Springs real estate market and see what is happening around the nation. Here are some interesting recent headlines:

Investors flock to Detroit’s housing market - The Detroit real estate market has homes for sale for less than $20,000 … some going for mere hundreds of dollars. Investors are “heading north” and buying up a bunch of homes in hopes of turning them into rentals … and selling them for a profit when the market shifts again.

Mortgage rates drop to record low - 30 Year mortgages are at 4.85% FIXED RATE. If you need a better rate on your current mortgage - REFINANCE NOW. If you were ever considering buying a home for sale in Colorado Springs - BUY NOW! Home prices are WAY more affordable and you CANNOT BEAT the current interest rates!

Lenders that the Wagner iTeam work with, that can help you:

• Trace Lee - Pam Childs Team - CB&T Mortgage: 719.785.7105  or  719.785.7115
• Marcy Langlois - Colorado Capital Bank: 719.482.7070

Mortgage fraud reports up 26 percent - Lying on mortgage applications and people scamming distressed homeowners into signing over their deed to “avoid” foreclosure are just 2 instances of mortgage fraud running rampant in the real estate industry right now. Participate in mortgage fraud - go to jail.

Bail Yourself Out ? Here’s How - Several GREAT tips and tricks on how to save money in ALL areas of your life right now.

Smart Money Saving Tips You Need Now - Tips on saving on food, education, utilities, transportation,entertainment and health care. AWESOME!

Where does your state rank? -Americans everywhere are feeling the recession’s pain – some more than others. Colorado is actually looking quite well … comparatively:

Enjoy these news stories and let us know what other national real estate news stories you find!

Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs
(719) 434-7525

Thank you to Ryan Hukill - Edmond OK Real Estate Agent, the Colorado Springs Real Estate Connection has found 2 great videos to share with you:

1. The Crisis of Credit Visualized, Part I - This video explains the inner workings of mortgages, sub-prime loans, Alan Greenspan and all the other things that help make up the current real estate/financial “situation”:

2. The Crisis of Credit Visualized, Part II - This video goes into what happened over the past few years that has lead to lower home prices and higher foreclosures.

These videos were created by Jonathan Jarvis.

Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs
(719) 434-7525