Archive

Archive for August, 2008

Colorado Springs Real Estate – Appealing Assessed Values

Colorado Springs Real Estate - Property Taxes

Colorado Springs Real Estate - Property Taxes

I just bought a home and the assessed value for it on the El Paso County Assessor was $312,000 and the home appraised at the end of May 2008 for $292,000.  I submitted an appeal along with a copy of the appraisal to the County since I would obviously prefer to pay property taxes on the appraised value instead of the assessed value.

I just received a phone call from the Assessor’s Office telling me that the assessed value is based on appraised values from June 30, 2006 and comps from that time period still assess the property at $312,000.  I was told that the current appraisal for the property I submitted would fall into the next valuation period and to wait to submit an appeal until that time.

According to the El Paso County Assessor’s website:

“Pursuant to Colorado State General Property Tax Law, in defending any value for ad valorem taxation purposes, only sales occurring within a designated time frame may be used. The “data collection period” (also known as the Current Base Year) for tax years 2007 and 2008 would be sales that occurred between January 1, 2005 and June 30, 2006. This means that only properties having sold within this time frame may be used as comparables when estimating a market value!

I should not be required to pay higher taxes on a home that is assessed at more than it was appraised!

Normally, assessed values are lower than the actual market values for homes, but there are some situations where that is not the case.  Regardless what the “Colorado State General Property Tax Law” states, I think it is ridiculous!  The market has changed and the Assessor’s Office needs to make adjustments for that, at least in my opinion.

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To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website.

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Colorado Springs Realty – Flat fee listing option for sellers

Alternatives outside of hiring a real estate agent are being explored by home sellers.  Many sellers say they cannot afford to pay commissions to the listing agent or buyer’s agent since they already have to bring money to the closing table.

I had a listing appointment and the seller said he would hire me to list his home if he decided to go with a full service realtor but was considering listing the home with a company who would do the basics:  put a lockbox on the door, company sign in the yard, and list it in the MLS for a flat fee.

Ultimately, he went with a company that would do the basics for a few hundred dollars.

The seller is the appointment contact for showings and receives all incoming offers. If an offer is received, and the seller chooses to hire an attorney to complete all of the contracts and paperwork, an additional $400-$800 can be added to their expenses.

The seller must stay in constant communication with the buyer to ensure everything goes smoothly up until closing (appraisal, inspections, and loan commitment).  If a seller has time to do the work, knows how to negotiate, and understands what is involved in the transaction process then this option may be worth exploring.

Sellers can meet with a few agents to find out what price range to list their home in and get a few ideas of how to market it to sell. They can then proceed to sell the home on their own and pay a flat fee to get it into the MLS.  Will homes listed this way sell just as quickly as homes listed by a Realtor?

Patricia Beck – Selling Colorado Springs Homes

Colorado Springs Real Estate – 10 Tips to take the hassle out of moving!

It is so exciting when you sell or buy a home in Colorado Springs but moving is one thing most people do not look forward to.  Many buyers and sellers dread moving especially if they have a lot of stuff.  One option that may save time is hiring a moving company.  If you decide to hire movers, one way to save money is by reducing the amount of work the movers have to do once they get to your home.   It will reduce the amount of your bill significantly.

 

  1. Move ALL of the furniture from the rooms in the upper level and basement level to the garage and main level living area. When we recently moved, we brought a pair of sofas upstairs from the basement and it was tricky due to the narrow hallways! We had to take the stair railing off and remove the couch legs. It saved us 30 min. on moving day because we already moved them.
  2. Take apart furniture. Many movers will take apart kitchen tables and remove mirrors off of dressers. Save time and do it before moving day.
  3. Pack your own boxes. Save money and pack well in advance. The movers will gladly help you box items but it will not be free!
  4. Wrap, wrap, wrap! Movers spend SO much time wrapping dressers, couches, and televisions with plastic. You can purchase large rolls of plastic wrap from your local hardware store and do it yourself. We wrapped some of our own furniture and fragile items which in turn saved the movers’ time and money for us.
  5. Get a good estimate! We had someone come out for an estimate and the salesman said we would only need on 27ft truck. Everything fit but it took a lot of time on moving day for the movers to plan on how to organize the furniture on the truck, too much time!! If the estimator had planned on two trucks, we would have paid more for an additional truck but saved on the hour or so total time the movers spent just talking amongst each other on the best plan of action…our stuff barely fit!!
  6. If given the choice, order 2 movers instead of 3 for loading and hire 3 for unloadingIn my situation, I noticed only 2 movers would be working when loading the truck and the other would just be standing there doing nada, nothing, zilch! It wasn’t worth having a 3rd mover to load the truck. Two movers could easily have gotten the job done without the third helper. Unloading is a different story, the more movers you have to unload the truck, the better. Unloading always goes much, much faster!
  7. Unhook your washer and dryer. Your washer will have some water that will need to be drained and that takes time, so save time and do it yourself before moving day. Unhook the plumbing for the washer and the dryer vent from the dryer.
  8. Have a garage sale! If you do not use it, get rid of it! The less you have to move the better. Have two bags to help you sort items when going through your closets: one for charity or a garage sale and one for throw away. Don’t lug things you do not wear or use around from one house to another.
  9. Get three estimates. Any time you hire a mover, make the time to get a few estimates. What type of insurance does the mover offer? Do the movers undergo background checks? Are there any hidden fees you don’t know about or does the estimate include all charges? Some movers charge by the hour, some charge by the weight amount on the truck, etc…
  10. Schedule movers well in advance. The busiest time for moving is between June and September. If you are going to move during busy season, try moving in the middle of the month and the middle of the week instead of the end of the month and the end of the week like everyone else.

For further information on available Real Estate in Colorado Springs contact your Colorado Springs Realtor, Patricia Beck.

Colorado Springs Real Estate – Single Family Home Sales

Colorado Springs Real Estate - Single Family Home Statistics

Colorado Springs Real Estate - Single Family Home Statistics

Although the median sales price in Colorado Springs increased in May to $210,900, it is still lower than the median sales price of $216,475 from May 2007.

Total home sales have dropped approximately 8% when comparing sales so far this year to those of last year (January-May).

On a positive note, home sales have been steadily increasing over the past few months in Colorado Springs.

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For information on the buying process and available Colorado Springs Housing please go to http://www.patricia-beck.com.

El Paso County Market Statistics- Homes sold from years 2003-2008

Colorado Springs Real Estate - Single Family Homes Sales


For information on the buying process and available Homes in Colorado Springs please go to http://www.patricia-beck.com.

This graph illustrates the number of single family homes sold in El Paso County from January through June for years 2003-2008.

The number indicated at the top of each stack represents the number of sold homes in the month of June from 2003-2008.

As depicted in the graph, the highest number of homes sold in 2005 while the number of home sales is significantly lower (so far) in 2008 when looking back to 2003.

Providing real estate information and services for Colorado Springs home buyers and sellers.

Colorado Springs Real Estate – Home Sales

Colorado Springs Real Estate - Single Family Home Sales January - July 2008

Colorado Springs Real Estate - Single Family Home Sales January - July 2008

Home sales in Colorado Springs vary by area as can be seen in the pie chart above.

The Powers area has had more home sales from January through July 2008 than any other area of Colorado Springs. The Northeast and Briargate areas of Colorado Springs have also had a large percentage of the total home sales in the Colorado Springs area thus far.

These statistics give you an idea of which areas of town buyers are looking in for homes and which areas of Colorado Springs have the most activity.

Patricia Beck – Selling Colorado Springs Homes

Wagon Trails Market Report – Colorado Springs Real Estate

Quarterly Market Report for Wagon Trails – Colorado Springs Area – Northeast

Colorado Springs Real Estate Market Report - Wagon Trails

Colorado Springs Real Estate Market Report - Wagon Trails

Home Inventory:  4.8 Months

List Price vs. Sale Price Ratio:  98.5%

Average List Price in Wagon Trails:  $275,078

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For information on the buying process and available Homes in Colorado Springs please go to http://www.patricia-beck.com.