csrej - july

Vol.6 No.11 www.csrej.com July 28, 2014

Builder Confi dence Passes Key Benchmark

PAGE 5

HBA Rides theCourage Classic

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NAR's New Ad Campaign

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PRSRT STDUS POSTAGEPAIDPERMIT 745 COLO SPGS CO

National News ........... Page 2Local News ............... Page 7On the Move ............. 3Local Expert ............. Page 14Around the Corner ...... Page 15

Tom Susemihl

Sr. Loan O� cer(719) 264-1952

[email protected] #208307

State Lic #100013573

Sharon Ballinger

Sr. Loan O� cer(719) 491-2500



TravisHarringtonLoan O� cer

(719) [email protected]

NMLS #956821State Lic #100043506

ShannonLivingstonLoan O� cer


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DebbieHavens

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NMLS #241570State Lic #100008696

Honest & Ethical Service from People You Know.5333 North Union Blvd. Suite 100, Colorado Springs, CO 80918

HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website. Regulated by the Colorado Division of Real Estate, Corp NMLS #3113.

“Coming Soon” advertising – What you need to know

Qualifi ed Mortgage Loan Rule Update: First six months yield minimal impact� e Housing & Building Associa-

tion of Colorado Springs (CSHBA) an-nounced that 25 home builders will fea-ture 28 new homes in the 60th Annual Parade of Homes.

Prepare to be captivated as you enter several of the most exclusive communi-ties in the city to experience some of the most spectacular examples of the latest in construction technology, sustainable living and interior design. What you will see in each of the 2014 Parade homes is the comprehensive e� ort of thousands of contributing trade partners, which when all of the dust se� les, create individual homes designed to inspire.

� e 28 beautiful new homes and neighborhoods in the Parade of Homes will be open from 10am – 6pm daily start-ing Friday, August 1 and runs through Sunday, August 17, except where noted on the ticket and Plan Book.

Tickets are on sale at all local Safeway stores or online at www.cshba.com and includes a navigational proximity map. Admission is $10.00 for adults 18 and older; children 17 and younger are free. One ticket will allow visitors to tour the Parade of Homes at their leisure dur-

ing these 17 days. You can register for the $2,500 shopping spree at La-Z-Boy Furniture Galleries at any of the Parade homes anytime throughout the Parade; you can also enter to win an Apple iPad by ge� ing your ticket stamped at 26 of the Parade builders identi� ed on your ticket. You may also register online for both prizes at www.cshba.com.

Main sites will be located at Flying Horse and Wolf Ranch. In addition to the main sites, many of this year’s homes are sca� ered throughout Colorado Springs showcasing some of the � nest neighbor-hoods in El Paso County.

� is years’ builders include:

28 homes in the 2014 Parade!60th Annual Parade of Homes

On June 3, 2014, the Colorado Divi-sion of Real Estate adopted an o� cial posi-tion on “coming soon” listings. � e ruling comes as a result of the Commission hav-ing received numerous complaints regard-ing real estate brokers who are advertising properties as “coming soon” to the market.

While the de� nition of “coming soon” hasn’t been decided by the real estate in-dustry, one fact is agreed on, the decision

to market a listing as “coming soon” must always be based on the seller’s informed decision of what will best serve the sell-er’s interest. “� e important � rst step in advising a seller-client on whether to advertise a property as “coming soon” is to identify the client’s best interest as de-� ned by the client,” said National Asso-ciation of REALTORS® General Council Katie Johnson. “Failing to act in the cli-

ent’s best interest and failing to disclose the pros and cons of a limited marketing plan, such as “coming soon” advertising, can violate state real estate license law and regulations, MLS policies, and the REALTOR® Code of Ethics.”

Colorado licensing laws require “a broker engaged by a seller or landlord to

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Since the Consumer Financial Protection Bureau’s (CFPB) Quali-� ed Mortgage (QM) rule went into e� ect about six months ago, we’ve seen minimal overall impact on bor-rowers and the mortgage loan industry. QMs must meet strict loan guidelines which aim to protect the bor-rower from tak-ing out a mort-gage loan that may put them at � nancial and/or foreclosure risk.

� e primary reason the QM rule has only slightly in� uenced the mortgage market to date is the CFPB’s creation of “temporary QM status.” Rather than put a damper on the healing real estate industry by en-forcing its very stringent Appendix Q borrowing guidelines, the CFPB

By Jon PaukovichEnt—

See Coming Soon | 9

See Parade | 7 See QM Rule | 4

"� e Paradise" by Classic Homes

2 www.csrej.com Colorado Springs Real Estate Journal July 28, 2014

Colorado Springs Real Estate Journal LLCPO Box 31395 | Colo Springs, CO 80931

Director of AdvertisingRachelle Nardo

[email protected]

Director of PublishingJosh Olson

[email protected]

Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colorado Springs, Colorado. CSREJ is published once a month and distributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Build-ing Association and many other industry-related professionals.

CSREJ is not responsible for any opinions or facts expressed by non-staff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content.

Realtor® is a registered trademark. Some-times the word Realtor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The registered trademark should be assumed if it is not present.

We welcome the submission of articles, photos and press releas-es. See website for guidelines.

Office: 719.439.0773Fax: 719.358.6657

www.csrej.com

Not affiliated with The Colorado Springs Business Journal

National News

NAR announces major national advertising campaign

Featuring The Communities of FLYING HORSE and WOLF RANCH,Plus 18 INDIVIDUAL HOMESITES from Less Than $200,000 to More Than $2,000,000!

Regular Tickets on sale at Safeway and online at cshba.com

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Get the free digital edition of the Parade of Homes Planbook in the HBA NEWSSTAND APP. Available for iPad, iPhone, and Android Tablets. 2014 Planbook Available August 1st.

Homes Open Daily: 10am-6pm*

Discounted tickets for REALTORS.$50/10 tickets – 50% savings • Available at the HBA and PPAR O�ces.

As a new generation of home buyers enters into recovering real estate markets across the country, the National Asso-ciation of Realtors® today announced the launch of a major national advertis-ing campaign in conjunction with realtor.com®, as well as a comprehensive public relations e�ort, “Real Insight,” which together will showcase the value of the local knowledge and accurate data avail-able to consumers through Realtors® and realtor.com®.

NAR’s latest campaign, “Real People,” is part of a $35 million annual advertis-ing e�ort that targets home buyers and sellers, ages 25-54; the ads are currently broadcasting across TV, digital, radio and mobile channels. Realtor.com® is concur-rently running a multimillion dollar ad-vertising campaign, “Accuracy Ma�ers,” emphasizing that realtor.com® provides the most accurate*, up-to-date and com-prehensive real estate listings and con-tent available online.

“Together Realtors® and realtor.com® deliver the real insights and know-how to make home happen for home buyers and sellers all across the country,” said Steve Brown, NAR president and co-owner of Irongate, Inc., Realtors® in Dayton, Ohio. “�is e�ort is critically important for our industry as we unite under a com-mon goal of providing the most accurate market data available online along with the deep local knowledge and Realtor® expertise that buyers and sellers need to

make their real estate dreams a reality.”“Accuracy is critically important for

serious buyers and sellers, but the Accu-racy Ma�ers awareness campaign is about more than just listings data – it’s about sound professional advice as well, from Realtors® with unparalleled local insights,” said Steve Berkowitz, chief executive o�-cer for Move, Inc., the operator of realtor.com®. “�is commitment leverages both campaigns to help consumers understand the combined advantage of using realtor.com® while working with a Realtor®.”

In addition to the national advertising campaign, NAR will be hosting a series of live and online “Conversations with Real Insight” in coming months that provide a�endees – from consumers and businesses to real estate service provid-ers and industry leaders – with up-to-the-minute understanding of today’s real

estate market trends.“Some have suggested that new tech-

nologies should make buying a home more like buying an airline ticket or a stock certi�cate, but they’re missing the point. You don’t live your life in a stock share, raise your kids in seat 7B, or build your future online,” said Brown. “Real estate transactions are the most signi�-cant personal and �nancial engagement most Americans ever make. In today’s competitive and complex environment, Realtors® combine technology with the real-life insight and market knowledge that buyers and sellers need to succeed.”

To learn more about the campaign, visit realtor.org/consumer-advertising-campaign.

© Copyright National Association of Realtors. Reprinted with permission.

July 28, 2014 Colorado Springs Real Estate Journal www.csrej.com 3

National News

Existing-home sales up in June, unsold inventory shows continued progress

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First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.FA-06/2013

Existing-home sales increased in June and reached an annual pace of 5 million sales for the �rst time since October 2013, while rising inventory continues to push overall supply towards a more bal-anced market, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, con-dominiums and co-ops, climbed 2.6 percent to a seasonally adjusted annual rate of 5.04 million in June from an up-wardly-revised 4.91 million in May. Sales are at the highest pace since October 2013 (5.13 million), but remain 2.3 per-cent below the 5.16 million-unit level a year ago.

Lawrence Yun, NAR chief economist, said housing fundamentals are moving in the right direction. “Inventories are at their highest level in over a year and price gains have slowed to much more welcoming levels in many parts of the country. �is bodes well for rising home sales in the upcoming months as con-sumers are provided with more choices,” he said. “On the contrary, new home construction needs to rise by at least 50 percent for a complete return to a bal-anced market because supply shortages – particularly in the West – are still pu�ing upward pressure on prices.”

Yun also noted that stagnant wage growth is holding back what should be a stronger pace of sales. “Hiring has been a bright spot in the economy this year, adding an average of 230,000 jobs each month,” he said. “However, the lack of wage increases is leaving a large pool of potential homebuyers on the sidelines who otherwise would be taking advan-tage of low interest rates. Income growth below price appreciation will hurt a�ord-ability.”

Total housing inventory at the end of June rose 2.2 percent to 2.30 million existing homes available for sale, which represents a 5.5-month supply at the cur-rent sales pace, unchanged from May. Unsold inventory is 6.5 percent higher than a year ago, when there were 2.16 million existing homes available for sale.

�e median existing-home price for all housing types in June was $223,300, which is 4.3 percent above June 2013. �is marks the 28th consecutive month of year-over-year price gains.

Distressed homes – foreclosures and short sales – accounted for 11 percent of June sales, down from 15 percent in June 2013. Eight percent of June sales were foreclosures and 3 percent were short sales.

Foreclosures sold for an average dis-count of 20 percent below market value in June, while short sales were discount-ed 11 percent.

�e percent share of �rst-time buyers continues to underperform historically, rising slightly to 28 percent in June (27 percent in May), but remain at an overall average of 28 percent over the past year.

NAR President Steve Brown, co-own-er of Irongate, Inc., Realtors® in Dayton, Ohio, said Realtors® are reporting that some prospective buyers who have above average credit scores but low down pay-ments are deterred from homeowner-

ship by the high cost of FHA mortgage insurance. “Access to a�ordable credit continues to hamper young, prospective �rst-time buyers,” added Brown. “NAR recommends that FHA reduce high an-nual mortgage insurance premiums for all quali-�ed homebuyers and eliminate the insurance requirement for the life of the loan. FHA’s HAWK program is a good start, but it should o�er further reductions for participating home buyers.”

According to Freddie Mac, the na-tional average commitment rate for a

30-year, conventional, �xed-rate mort-gage dropped for the second consecutive month to 4.16 percent in June from 4.19 percent in May, and is the lowest since last June (4.07 percent).

Properties sold faster for the sixth con-secutive month in June; highlighting the fact that inventory is still lagging relative to demand. �e median time on market for all homes was 44 days in June, down from 47 days in May; it was 37 days on market in June 2013. Short sales were on the market for a median of 120 days in June, while foreclosures sold in 54 days and non-distressed homes typically took 42 days. Forty-two percent of homes sold in June were on the market for less than a month.

For the third consecutive month – as well as the average of the previous 12 months – all-cash sales in June were 32 percent of transactions, up from 31 per-cent in June 2013. Individual investors,

who account for many cash sales, pur-chased 16 percent of homes in June, un-changed from May; they were 17 percent in June 2013. Sixty-nine percent of inves-tors paid cash in June.

Single-family home sales rose 2.5 per-cent to a seasonally adjusted annual rate of 4.43 million in June from 4.32 million in May, but remain 2.9 percent below the 4.56 million pace a year ago. �e median existing single-family home price was $224,300 in June, up 4.5 percent from June 2013.

Brown

Distressed homes – foreclosures and short sales – accounted for 11 percent of June sales, down from 15 percent in June 2013.

See June Sales | 4


National News

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ERA: New logo modern, dynamic

has adopted “temporary QM status” as a stop gap until Congress can make a deci-sion about possible secondary mortgage market reform.

It is no coincidence that the CFPB’s “temporary QM status” guidelines are the very same underwriting and documenta-tion rules used by Fannie Mae, Freddie Mac, the Federal Housing Administra-tion, the Veterans Administration and the Department of Agriculture. Because the majority of mortgage loans have his-torically followed these same guidelines, there’s been minimal impact to borrowers seeking loans since the QM rule rolled out in January 2014.

While the overall impact of this rule has been small, there are two types of borrow-ers that now � nd home � nancing more of

a challenge: the newly self-employed and those who have recently rented out prop-erties to generate income. I’ve recently seen the creation of lending products that seek to � ll the gap for borrowers who can-not qualify for loans which meet current QM guidelines. And unfortunately, many of these non-QM mortgage products con-tain features that led to the previous mort-gage meltdown.

� e CFPB is allowing the “temporary QM status” to be in place for as long as seven years, due to the time it would take to consider the enormous challenges and huge implications any secondary mortgage market reform would gener-ate. While the new QM rules have meant business as usual for most borrowers and lenders, it will be interesting to see how long “temporary” lasts.

QM Rule from 1

Existing condominium and co-op sales increased 3.4 percent to a seasonally ad-justed annual rate of 610,000 units in June from 590,000 in May, and are 1.7 percent above the 600,000 unit pace a year ago. � e median existing condo price was $215,700 in June, which is 3.2 percent higher than a year ago.

Regionally, existing-home sales in the Northeast rose 3.2 percent to an annual rate of 640,000 in June, but are 3.0 per-cent below a year ago. � e median price in the Northeast was $269,800, slightly below (0.1 percent) June 2013.

In the Midwest, existing-home sales jumped 6.2 percent to an annual rate of 1.20 million in June, but remain 2.4 per-

cent below June 2013. � e median price in the Midwest was $177,900, up 4.6 per-cent from a year ago.

Existing-home sales in the South inched 0.5 percent higher to an annual level of 2.06 million in June, and are up 1.0 percent from June 2013. � e median price in the South was $192,600, up 3.4 percent from a year ago.

Existing-home sales in the West rose 2.7 percent to an annual rate of 1.14 mil-lion in June, but remain 7.3 percent below a year ago. � e median price in the West was $301,000, which is 7.2 percent above June 2013.

© Copyright National Association of Realtors. Reprinted with permission.

June Sales from 3


National News

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Builder confi dence surpasses key benchmark in July

Builder con� dence in the market for newly-built single-family homes reached an important milestone in July, rising four points to a reading of 53 on the National Association of Home Build-ers/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good than poor.

“� is is the � rst time that builder con-� dence has been above 50 since January and an important sign that it is strength-ening as pent-up demand brings more buyers into the marketplace,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.

“An improving job market goes hand-in-hand with a rise in builder con� -dence,” said NAHB Chief Economist David Crowe. “As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home.”

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of cur-rent single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” � e survey also asks builders to rate tra� c of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each com-

ponent are then used to calculate a sea-sonally adjusted index where any num-ber over 50 indicates that more builders view conditions as good than poor.

All three HMI components posted gains in July. � e index gauging current sales conditions increased four points to 57, while the index measuring expecta-tions for future sales rose six points to 64 and the index gauging tra� c of prospec-tive buyers increased three points to 39.

� e HMI three-month moving aver-age was up in all four regions, with the Northeast and Midwest posting a one-point and two-point gain to 35 and 48, respectively. � e West registered a � ve-point gain to 52 while the South rose two points to 51.

The above article has been provided to you compliments of the National Association of Home Builders.

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Or check it out at:LegacyTitle-LLC.com/calendar

As always, the Parade of Homes is easy to navigate with the comprehensive Plan Book and web site. Free Plan Books are available at any Parade Home and in-clude detailed information about each of the Parade homes and hub site locations. �e website will have an electronic copy of the Map and Guidebook as well as a list of the Parade Builders with their con-tact information. You can also download the free HBA Newsstand and get the Pa-rade App with expanded content from all the builders, developers and select adver-tisers from the App Store or Google Play.

�ere will be several educational events throughout the Parade. Whether you are looking for tips on landscaping, planning a custom home, interior design ideas, �nancing your home and �re miti-gation practices, the Parade builders have information you want to know. Dates and times on all seminars is available on cshba.com.

In April 2014, the CSHBA won Asso-ciation Excellence Awards (AEA) awards from the National Association of Home Builders for both the 2013 Parade of

Homes and the 2013 Parade of Homes magazine and App. �e AEA is an annual program designed to recognize the out-standing accomplishments of state and local HBAs throughout the country. �is followed on the heels of winning “Best of Houzz”, the leading platform for home remodeling and design. �e Parade of Homes was chosen by the more than 16 million monthly users that comprise the Houzz community.

�e Housing & Building Association of Colorado Springs would like to thank our major supporters of the Parade of Homes: �e Gaze�e, Freedom Financial Services, La–Z–Boy Furniture Galleries and Mike Shaw Buick GMC. Safeway is the o�cial ticket outlet for the Parade of Homes.

Meridian Ranch celebrates Falcon Freedom Days Ent to offer free CE class on mortgage insuranceMeridian Ranch, the Meridian Ranch

Metropolitan Service District, and the Antler Creek Golf Course came together with Meridian Ranch signature home-builders and community partners to sponsor the 2014 Falcon Freedom Days on �ursday, July 3.

A community tradition, Falcon Free-dom Days gives families and friends an opportunity to gather together to cele-brate our nation’s freedom and enjoy fun and games, live music, and vendor dis-plays from the Falcon business commu-nity. �is year’s Falcon Freedom Days, hosted at the Antler Creek Golf Course in Meridian Ranch, o�ered guests live music by Velvet Rut, chargrilled burgers and dogs by the CreekView Grill, fun and games for the kids, and displays by �rst responders and law enforcement.

Sponsored in part by Meridian Ranch

and the Meridian Ranch signature home builders, this year’s Falcon Freedom Days was challenged by a li�le rain, wind, thunder and lightening but still provided guests with the opportunity to turn their eyes to the sky for one of the largest �re-works displays in the state!

Special thanks to KCCY (96.9) for their assistance in the promotion of this celebration and the patriotic music that accompanied this one of a kind concert in the sky

"Like" us on facebook.com/csrej

To help local realtors understand mortgage insurance, Ent is holding a free continuing realtor education (CRE) credit class, Mortgage Insurance 101: What You & Your Clients Need to Know, 1 to 2:30 p.m., �ursday, August 7, 2014, at Ent Federal Credit Union, 7350 Campus Drive, Second Floor, Colorado Springs.

Certi�ed CRE Presenter and Arch Mortgage Insurance Account Executive Nate Halverson will discuss the types of mortgage insurance (MI), how they work and how they can be canceled. “As MI becomes the norm for most

home buyers, informed real-tors can help dispel miscon-ceptions while supporting their own reputation,” said Jon Paukovich, Ent’s vice president of mortgage lending.

�e presentation will include a Q & A session with Halverson and members of the Ent Mortgage Lending team and a�endees will earn one hour of CRE credit. Seating is limited and RSVPs are required at Ent.com/RealtorWorkshop.

Parade from 1


Use your smartphone and a QR Reader application to see an exclusive tour of Meridian Ranch.

Discover Why People Love Living Here.

MODEL HOMES OPEN DAILY

• New Homes available now for immediate move-in

• Homes from the $200s to the $500s

• Innovative Neighborhood Schools

• 30,000 Sq. Ft. Recreation Center & Outdoor Pool

• Indoor Pool Coming Soon

• Antler Creek Golf Course• CreekView GrillCreekView Grill• Neighborhood Parks

& Paved Trails• Open Spaces & Views• Minutes to Peterson &

Schriever Air Force Bases• Easy Access to I-25, Hwy. 24

& Colorado Springs Airport

ClassicHomes.com CampbellHomes.com RichmondAmerican.com GJGardner.com MajesticCustomHomes.com SaintAubynHomes.com ReunionHomesColorado.comCenturyCommunities.com

TEAM HBA RIDES THE 25TH COURAGE CLASSICJuly 19-21, 2014

Team HBA, "Fools w/ Tools," rode the Courage Classic July 19-21. � is was a three day, 160-mile bike ride bene� ting � e Children's Hospital.

www.couragetours.com

Send us your PHOTOS!Email: [email protected]�

Thank you HBA for sharing these!


Local News

Service Strength Stability

Available in most Colorado counties.

90 S. Cascade Avenue, Suite 950 Colorado Springs, CO 80903

(closing and presentation office only, available by appointment) 719-590-1711

1277 Kelly Johnson Blvd., Suite 100 Colorado Springs, CO 80920

719-590-1711

361 W. Highway 24, Suite 100 Woodland Park, CO 80863

719-687-3081

Greg Fowler 719-425-7042 [email protected] Colorado License Producer #390419

Rich Feasel 719-565-7487 [email protected] Colorado License Producer #92937

Shirlee Dobbs 719-640-9454 [email protected] Colorado License Producer # 143745

Greg Wolff, CTIS, NTP Vice President 719-459-9653 [email protected] Colorado License Producer #11530

Seller Net Sheets

Buyer

Estimates

Closing Costs

and much more...

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your mobile device!!

act as a seller’s agent or a landlord’s agent is a limited agent with the following du-ties and obligations: To promote the in-terests of the seller or landlord with the utmost good faith, loyalty, and �delity.” A broker who acts as a transaction broker for the seller or landlord is required to “exercise reasonable skill or care.”(§12-61-804(1)(c) and §12-61-807 of the Colorado Revised Statues).

In addition to state regulations, bro-kers looking to advertise a property as “coming soon” must also comply with their local MLS rules.

�e Pikes Peak MLS (PPMLS) states in its Rules and Regulations under Sec-tion 1 of Listing Procedures that listings “must be submi�ed to RSC within 72 hours (excepting weekends, holidays, and federal postal holidays) a�er all necessary signatures of the seller(s) or lessor(s) have been obtained in accordance with the terms of the listing agreement, subject to o�ce exclusive provisions.”

Furthermore, in Section 1.2 Detail on Listings Filed with the PPMLS under List Date clari�es that [the listing date] “Shall be later of (i) the date of the Sell-er’s signature; (ii) the “Begin” date of the listing period; and (iii) a di�erent Begin date speci�ed in the Listing Agreement.”

As for the issue of “Coming Soon” signs the PPMLS has incorporated two sign policies from NAR into its Rules. �ese policies are:

• Section 4.1. "For Sale or "For Lease" SIGNS - (with respect to PPMLS Participants) Only the "For Sale" signs or "For Lease" signs of the listing bro-ker may be placed on the prop-erty during the time that the listing agreement is in force. (�is does not address the situ-ation where the property may not be listed.)

• Section 4.2. "SOLD" or "LEASED" SIGNS - Prior to closing, only the "Sold" or "Leased" sign of the listing broker may be placed on the property, unless the listing bro-ker authorizes the cooperating (selling/leasing) broker to post such a sign.

PPMLS has also adopted the posi-tion that “per NAR, the PPMLS can-not make a rule concerning the posting of signs. �erefore, the PPMLS can-not prohibit a broker from posting an "Available Soon" sign.”

However, “if RSC receives a wri�en (or emailed) violation complaint that a property is listed, but is not in the PPMLS, then the RSC can request a copy of the listing agreement which would con�rm whether or not there is an o�ce exclusive. If RSC veri�es that a listing is in force, and there is no “pink slip/o�ce exclusive” then RSC will ensure that the

listing is input into the PPMLS. If the broker has an o�ce exclusive agreement, then the listing is not required to be in-put into the PPMLS computer system (although a copy of the listing agreement is required to be �led with RSC).”

Should there be special circumstances regarding the listing, “the RSC will not prohibit a listing broker from insert-ing additional terms in the contract such as withholding the listing from the PPMLS for a speci�ed period of time,” nor is “the listing broker [prohibited] from submi�ing the listing to PPMLS, but then, with the Seller’s authorization, temporarily withdrawing the listing from the PPMLS.”

If there is no listing agreement, but the seller has simply agreed to allow the bro-ker to place a sign on the property, then the RSC has no jurisdiction in the mat-ter, and no action will be taken.

�e motivation for why a broker would determine if “coming soon” ad-vertising would be in the client’s best interest needs to be carefully considered. Article 1 of the REALTOR® Code of Ethics requires REALTORS® “promote and protect the interests of the client.” If asked why the broker decided on this ad-vertising, and there isn’t a reasonable an-swer, it will be assumed that the broker is doing it to bene�t themselves at the cost of the “best interest of the client”.

“�e Commission position states that an agent must explain to a seller the negative rami�cations of “coming soon” marketing including sig-nage on the property,” said Lori VanDerWege, Chair of the PPAR Pro-fessional Standards Com-mi�ee. “Once this has been explained the seller can then make an educated decision on whether they wish to use this particular marketing method. �at being said, an unsatis�ed seller could allege that a bro-ker breached their duty to promote the best interest of the client if the broker did not seek to obtain the highest possible price for his or her client where the client didn’t understand that the marketing of the property might not achieve the high-est price. �is could be a violation of Ar-ticle 1 of the Code of Ethics.”

�e Commission position concludes by requiring the “manner in which the broker and seller or landlord agree to market the property must be memori-alized in writing in the listing contract prior to any marketing being performed.”

It is very important that sellers under-stand the pros and cons of various ways of marketing their property so that they can make an educated decision of how, when, and where their property will be marketed. A broker that fails to comply with state laws and regulations, MLS policies, and the REALTOR® Code of Ethics could face disciplinary ac-tions, �nes, and possible litigation from unsatis�ed clients.

Coming Soon from 1

Send us your [email protected]�

VanDerWege


Local News

� e board of directors of the National Association of Home Builders (NAHB) elected Randy Case, II of Colorado Springs, to be a Life Director at the Associa-tion’s Spring Board of Directors’ Meeting in Washington, DC., on June 6.

“� e success and scope of NAHB is largely due to the dedication and hard work of members of its board of direc-tors such as Randy,” said NAHB � ird Vice Chairman Granger MacDonald. “By giving up time with their own businesses and families, NAHB’s Life Directors are

instrumental in helping further NAHB’s work to advance housing opportunities for all Americans.”

Randy Case, II is the President of Case International Company in Colo-rado Springs. He has been a member of NAHB more than 20 years, and has served as a voting director for 10 years.

In order to be eligible for election as a Life Director, NAHB builder and associ-ate members must have served as a vot-ing director for more than 10 years, have a� ended at least two board meetings each year, and be recommended by their local or state association.

Randy Case, II elected a Life Director at NAHB

Celebrating community one concert at a time

Reunion Homes joins Meridian Ranch

Meridian Ranch is excited to an-nounce their Annual Concerts In � e Park. With concerts held on May 30, June 20, and the annual Falcon Freedom Days on July 3, � e Meridian Ranch Concerts in the Park are a chance for friends and neighbors to come together to celebrate community and for visitors to get a taste of what life is like in Meridian Ranch.

� e next concert will be held, on Fri-day August 1 from 6 to 9 p.m. at Fairway Heights Park in Meridian Ranch. Other

concert related activities include a jump-er for the li� le ones, playground equip-ment, hal� ime entertainment, and re-freshments available for sale (cash only) by the CreekView Grill.

Bring you blankets, your lawn chairs, your dogs and your friends and join us for Concerts in the Park at Meridian Ranch!

Directions to park: East on Woodmen Rd., north on Meridian Rd., east on Lon-donderry Dr., north on Meridian Ranch Blvd. and follow the signs.

Meridian Ranch is pleased to wel-come locally owned Reunion Homes as the newest signature homebuilder to join the master planned community located in Falcon, Colorado with a new model home opening in the spring of 2015.

Opening their doors in 2011, Reunion Homes is an award-winning homebuilder o� ering large, beautiful homes at surpris-ingly a� ordable prices starting in the low $200s. With nearly two dozen Parade of Homes awards (including three People’s Choice awards), Reunion Homes will of-fer nearly one dozen ranch and two-story style homes in Meridian Ranch.


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* Granite may not be available in completed homes. Included features may vary by community. Not valid with any buyer currently under contract with DR Horton, Inc, or in conjunction with any other promotions. See Sales Agent for specific incentive information. **DHI Mortgage Company Ltd., 9555 S. Kingston Ct, Ste. 100, Englewood, CO 80112, Phone 720-488-2080. NMLS #133322. Company NMLS #14622. Equal Housing Opportunity Lender. Regulated by the Division of Real Estate. DHIM is an affiliate of DR Horton. For more information

about DHIM and its licensing please visit http://www.dhimortgage.com/affiliate/ **Save up to $7,500 on financing or closing costs when you purchase a DR Horton Colorado home. Provided for informational purposes only. This is not a commitment to lend. Not all borrowers will qualify. Buyer is not required to finance through DHI Mortgage or another seller

“Preferred Lender” to purchase a home; however, buyer must use DHI Mortgage or another seller “Preferred Lender” to receive the incentive. Some restrictions apply. Offer valid new contracts written April 22, 2014 - May 31, 2014, that close escrow. See sales agent for complete details including a list of all seller “Preferred Lenders”. Prices, included features,

availability and delivery dates are subject to change without notice or obligation. See sales agent for details. ©2014 D.R. Horton, In

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On the Move

West, Giralt, Puglisi,

WinterfeldKeller Williams Partners

Please join Keller Williams Partners is welcoming Kathy West to our family! Kathy has called Colorado Springs home for over twenty years and has extensive knowledge of the rapidly growing, ever changing Colorado Springs area. She loves enjoying the beauty and outdoor activities our area o� ers. Kathy comes to the real es-tate industry a� er a 25 year career in nurs-ing. Her caring, people-oriented mind set makes her an ideal Realtor. It is important that the people she works with feel cared for and involved. She is dedicated to listen-ing to the needs and desires of her clients, and making sure they receive the superior service they deserve. Kathy’s true goal is to help other’s realize their dreams!

Jacqueline Giralt has a Bachelors in Communications and has lived in Colo-rado Springs for 9 years. Jacqueline loves connecting to with the public and grew up traveling all over the world. She was born in Spain but calls Brooklyn, New York home.

She is looking forward to helping people � nd their dream home with a career in Real Estate!

Please help us welcome Corey Puglisi to the Keller Williams Family! Corey has lived in Colorado Springs for

the past 25 years and loves to explore the beautiful state of Colorado with his family. He also loves to play golf! Corey is ready for the challenge of Real Estate and is looking forward to having the freedom to have time with his family.

Let’s welcome Tara Winterfeld! She is new to Real Estate and has a degree in Busi-ness Management. She has lived in Colo-rado for the last 7 years. She previously worked for the US Air Force in Security Forces.

GOT NEWS?Let us know!

[email protected]

Someone new in the offi ce?New certifi cation?

Send a 150 word bio along with a photo to:

[email protected]

©2014 North American Title Group and its subsidiaries. All Rights Reserved. North American Title Group and its subsidiaries are not responsible for any errors or omissions, or for the results obtained from the use of this information. | CO14-4095 R 02-07-14

DOWNTOWN COLORADO SPRINGS 102 N. Cascade | Suite 330 Colorado Springs, CO 80903

t: 719.578.4100f: 719.352.0197e: [email protected]

www.nat.com/Colorado

NORTHERN COLORADO SPRINGS1730 Chapel Hills Dr. | Suite 100 Colorado Springs, CO 80920

t: 719.598.5355f: 719.598.5366e: [email protected]

Like Clockwork ®

Our philosophy of growth is to invest in what we believe in. That is why we recently opened a downtown location. We invite you to get to know our dependable, knowledgeable and experienced team of professionals. We look forward to helping grow your business along with ours.

NORTH AMERICAN TITLE

Our philosophy of growth is to invest in what we believe in. That is why we recently Our philosophy of growth is to invest in what we believe in. That is why we recently

Two locations for your convenience.

Map data © 2014 Google

DOWNTOWN

NORTHERN


Local Expert

5755 Mark Dabling Blvd., Ste 110, Colorado Springs, CO 80919

Phone: (719) 884-5300 - Fax: (719) 884-5304 WWW.ETCOS.COM

350 N. Pine St., Woodland Park, CO 80863 P.O. Box 9004, Woodland Park, CO 80866

Phone: (719) 686-9888 - Fax: (719) 686-8208 WWW.EMPIREWP.COM

And don’t forget these helpful icons on our website ...

Available NOW for iPhones and iPads (Coming soon for droid devices)

Download Free at the App Store under Empire Title Mobile for immediate and easy access to mortgage and payment calculators, estimated net sheets, individual history of your opened and closed orders, and complete property data for

El Paso and Teller Counties.

Empire at your fingertips ... because our Clients are En-Titled to the Best!

Immediate, full access to current owner-ship data, property description and sale

dates, subdivision information and property subdiv. analysis over 3, 6 and 12 months.

Quickly and easily calculate Good Faith Estimates for purchases or refinances in

El Paso, Teller, Park or Summit Counties.

Go � gureIt is said that 7 out of every 5 Americans have di� culty with

math, and I believe that is 121% true. Yet there are certain math-ematical � gures that are essential to � gure out how successful you can be in the business of real estate.

� ere is an estimated two million people employed nation-ally in the real estate industry, including over 430,000 licensed agents and brokers. What do you do in your business to set yourself apart as “one in a million” … actually, one in two mil-lion? In our local market, there were over 2,700 active real es-tate agents in the Pikes Peak Association of Realtors at the end of last year. Collec-tively, the average number of closed transaction sides (buyer or seller) in 2013 for all agents through the Pikes Peak MLS was nine per agent. So, are you an average real estate agent?

If you participated in at least 23 closings last year – slightly less than 2 per month - you were in the top ten percent of all agents in the Pikes Peak region. � at top 10% closed an average of 47 transaction sides. So, are you a top tier real estate agent? Do you have aspirations to be? What do you � gure it will take for you to get there?

� e � rst step is for you to � gure out what other real estate agents are doing – then do it be� er or add something more. For the sake of space and the mathematically chal-lenged, we’ll begin with the simplest of visual aids:

Well, I guess that � gures. From 2009 to 2013, real es-tate related Google searches have increased 253%, so obvi-ously you must have a strong presence online. However, 54% of agents devote � ve hours or less monthly to their website – and a full 28% don’t even have a website.

One-third of the agents that do have a website spend $100 or less per year main-taining it.

Successful agents are embracing the internet, and hugs are always welcome. Social Media is now used by 91% of the Realtors nationally. � at likely quali� es them as Ac-tion Figures.

Online advertising now accounts for 56% of overall ad spending in the real estate industry – only 25% is dedicated anymore to print media like newspapers and direct mail. � is year, total online ad spending for real estate will reach about $16 billion, a 22% gain over 2012 and 210% since 2009. Is your internet advertising also growing? Are you advertising online at all? I � gure the World Wide Web is as good a place to start as any in increasing your market presence and increasing the size of your wallet and pocket book. Of course, that’s just a � gure of speech.

By Michael PodoyakEmpire Title—

77% 75%

34% 34% 31%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Percentage of Realtors using specific social media

Facebook

LinkedIn

YouTube

Google+

TwiJer

92%

8%

Percentage of Buyers that use the internet in their home search

DO

DON'T

77% 75%

34% 34% 31%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Percentage of Realtors using specific social media

Facebook

LinkedIn

YouTube

Google+

TwiJer

92%

8%

Percentage of Buyers that use the internet in their home search

DO

DON'T

Contact Christy NixonDirector of Business Development

Call: 719-210-9555Email: [email protected] Delmonico Drive, Suite 330 | Colorado Springs, CO 80919

Are you closing fewer than 12 transactions per year?

Do you want more? Do you need training and support?

Check out some of our programs:• ListingMastery–ExclusiveProgramforaLimitedNumberofAgents

• MentorProgramforNewAgents• GenerousCommissionPlans• WeeklyTrainingClasses• 7DayperWeekBrokerSupport

We o�er a friendly professional business o�ce with all the tools, training and support needed to succeed.


Around the Corner

Monday, August 4Colorado Springs Regional Business Alliance Golf Classic 201411am @ Pine Creek Golf ClubShawn Dahlberg, 719.884.2832 [email protected]

Thursday, August 7Masterminds Networking Group7:30am-9am @ Canon National BankRSVP to David Alley, 719-632-3526 [email protected]

B.L.E.E.P. (Black Forest & Eastern Marketing Group)8:30am-10am @ The Grill at Latigo Trail Equestrian Center. Roxene, 495-6213

Mandatory Commission Update Course9am-1pm @ Empire [email protected] 719-884-5300

Selling High Performance Construction2pm-4pm @ Empire [email protected] 719-884-5300

Mortgage Insurance 1011pm-2:30pm @ Ent FCU (Campus Dr.)Ent.com/RealtorWorkshop

VA Class w/Mary Thorne9am-1pm @ Legacy [email protected]

Tuesday, August 12eContracts Intermediate Course2pm-4pm @ Empire [email protected] 719-884-5300

Thursday, August 14Farm and Land8:30am @ Rudy's on 8th StreetGreg Wolff: 719-590-1711

Women's Council of Realtors11am-1pm @ The Sunbird RestaurantMichele: [email protected]

Lending Lessons: Enhancing Client’s Experience, Using FHA & Conventional Lending Benefi ts9am-12pm @ Empire [email protected] 719-884-5300

Friday, August 15Independent Brokers Forum9am-10:30am @ PPARwww.ppar.org

Tuesday, August 19NARPM Meeting11am-1pm @ Clarion Hotel (314 W. Bijou)Danielle Coke, 719-495-2247

Wednesday, August 20How to Sell HUD Homes9am-12pm @ Legacy [email protected]

PPAR Gov't Affairs Bourbon Tasting5:30pm-9pm @ Bourbon Brothers Southern KitchenMichele: 719-633-7718 ext [email protected]

Thursday, August 21The Title Commitment9am-11am @ Empire [email protected] 719-884-5300

Intro to Title and Escrow1pm-3pm @ Legacy [email protected]

Friday, August 22Parade of Homes Awards Banquet5pm @ The Pinerywww.cshba.com

Events subject to change. Due to space, please check with event/class holders early for more detailed information on cost, CE credits, sponsors and registration dates.

Please note that by doing so, you give us permission to print the photo in any upcoming issue. CSREJ will never sell your photos or distribute them in any other

way besides the printed newspaper and digital online version.

Post it to Instagram or Twitter with #csrej and we could print it in our next issue.

Have a Fun Real Estate-related Photo?

60th AnnualParade of Homes

August 1-17� e Parade of Homes o� ers the

general public a � rst-hand look at the current trends and greatest in-novations in new home design. � is event showcases the latest design trends in a� ordable living to luxury dream homes complete with every amenity imaginable.

Discount tickets for Realtors are available at HBA and PPAR o� ces.

www.springsparade.com

The “Hooked on Classic” Realtor Recognition Program is back

by popular demand! And that means we’ll be paying out more

than line when we say thanks to all of our hard-working sales

partners out there for promoting our properties!

With each qualified closing, we’ll be handing out cash. Cold

hard cash, along with a handsome 4% commission. And as

your closings increase, so will your bonuses—from $1,000 to

$3,000!

The catch? You have to qualify to participate.

So don’t wait. Call or visit your nearest

Classic Homes Sales Model today andget outfitted for the biggestadventure ever.

*Pricing, availability, and program terms subject to change.

Hooked On ClassicREALTOR RECOGNITION PROGRAM.

ANNOUNCING THE 2014

4% commission on base priceand qualify for the Hooked onClassic Program.

1st Closing

2nd Closing

3rd Closing

4% commission on base price + $1,000 Bonus

4% commission on base price + $2,000 Bonus

4th Closing (and beyond)

4% commission on base price + + $3,000 Bonus

Here’s how it works—by the numbers…

Program Terms and Conditions:1) Hooked on Classic 2014 Bonus Incentives will be paid

on all contracts originated between 1/1/2014 and

12/31/2014. Contracts must close to receive bonus. 2) You

must be an active Colorado licensed real estate agent and

must have actively participated in the sale, to include

being present at the initial client meeting,

contract signing, and other relevant

homebuyer/builder meetings. 3) All bonus

commissions will be paid at closing. 4)

Employees of Classic Companies and Flying

Horse Realty are not eligible for this program.

5) Bonus commissions are earned on an

individual REALTOR basis, team sales are not

cumulative. 6) Bonus incentives will be

awarded to the individual agent listed

on the contract. 7) Program subject to

change without notice.

BANNING LEWIS RANCH

Sales Model – 7163 Cottonwood

Tree (80927) - 719-886-4995

MLS #7043050, The Rosewood,

7132 Snowbell Lane,

4 Bed + Study, 2.5 Bath,

2 Car Garage, Ranch,

3,188 sq. ft., $339,907

CARRIAGES AT INDIGO RANCH Sales Model – 6411 Wind

River Point (80923)719-573-2009

The Tilbury7678 Derringer Pt., 4 Bed,

3 Bath, 2 Car Garage, Ranch/Paired Patio Home,

3,479 sq. ft., Ready August, $275,343

INDIGO RANCH AT STETSON RIDGE Sales Model – 7104

Mustang Rim Dr (80923) 719-574-6610

MLS #4779446, The Ashton, 6736 Indian Feather Dr.,

4 Bed, 3 Bath, 3 Car Garage, Ranch,

4,507 sq.ft., $455,579

FLYING HORSE: THE VILLAGE OF

MESSINA Sales Model – 1155 Old

North Gate Rd (80921)

719-694-8840

MLS #758969, The Vail,

1528 Yellow Tail Dr

4 Bed, Study, 2.5 Bath,

3 Car Garage, 2-Story

3,853 sq. ft., $439,530

FLYING HORSE:THE VILLAGE OF SIENA

Sales Model – 1908 Turnbull Dr (80921) - 719-495-7297

MLS #771555, The Brougham, 13255 Cake Bread Hts

3 Bed, 2.5 Bath, 2 Car Garage, Ranch/Paired Patio Home

3,086 sq. ft., $374,900

FLYING HORSE:THE VILLAGE OF

SONOMASales Model – 1908 Turnbull Dr

(80921) - 719-495-7297

MLS#2952136, the Paradise,

2360 Margaux Valley Way, 4 Bed

+ Study, 3 Bath, 3 Car Garage,

Ranch, 4,150 sq. ft., $615,289

PROMONTORY POINTE New Model Location!

15824 Kansas Pacific Way(80132) - 719-481-9828

MLS #9640077, The Granby II,244 Reading Way, 4 Bed,

3 Bath, 3 Car Garage, Ranch,3,489 sq.ft., $388,009

WOLF RANCH:

Sales Model – 5906 Brave Eagle Dr.

719-282-1650

MLS #712584, The Vail,

6223 Leon Young Dr

4 Bed, Study, 2.5 Bath, 3 Car

Garage, 2-Story, 3,840 sq. ft.,

$378,500

MOUNTAIN SHADOWS Sales Model – 5651 Majestic Dr

(80919) - 719-323-4283MLS #795198, The Alpine,5651 Majestic Dr., 3 Bed,2.5 Bath, 2 Car Garage,

2-Story, 2,485 sq. ft.,$299,900

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