december 31, 2012

Vol.5 No.4 www.csrej.com December 31, 2012

HBA Membership Reception

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PRSRT STDUS POSTAGEPAIDPERMIT 745 COlO SPGS CO

National News ........... Page 2Local News ............... 2On the Move ............. Page 17Local Expert ............. Page 18Around the Corner ...... Page 19

Kevin BentBranch Manager(719) [email protected] #251284State Lic #100018895

Aric UlmerLoan O� cer(719) [email protected] #257977State Lic #100011170

Chad DennySales Manager(719) [email protected] #665068State Lic #100037389

Tom SusemihlSr. Loan O� cer(719) [email protected] #208307State Lic #100013573

Rose KellySr. Loan O� cer(719) [email protected] #10326State Lic #100020386

Debbie HavensSr. Loan O� cer(719) [email protected] NMLS #653845State Lic #100018256

Tobi MondejarLoan O� cer(719) [email protected] #241570State Lic #100008696

Honest & Ethical Service from People You Know.5 3 3 3 N o r t h U n i o n B l v d . S u i t e 1 0 0 , C o l o r a d o S p r i n g s , C O 8 0 9 1 8

HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website: www.dora.state.co.us/real-estate/index.htm Regulated by the Colorado Division of Real Estate, Corp NMLS #3113

November existing-home sales and prices maintain uptrend

Alternatives to FHA financing

Builder confidence continues improving in December

Since the tough economic times of 2008, the Federal Housing Ad-ministration (FHA) has become an increasingly significant factor in the housing industry. Prior to the financial troubles, his-torically FHA’s market share had been below 5 percent. Since 2007, the FHA began to fill the void left by subprime lenders. By doing so, their market share has increased to a peak of over 30 percent, which includes an estimated 50 percent of first time home buyers. The FHA’s rapid growth and risk prac-tices have caused the insurer to find itself with a bill that may be chal-lenging to pay.

In November, the FHA released its annual actuarial analysis of its insurance fund and found that it has a potential capital shortfall of $16 billion dollars. The FHA is required by law to keep a capital cushion of 2 percent but hasn’t

been close to that figure for several years. Thus, indications are that the FHA may need to access the U.S Treasury for the first time in its his-tory.

Billions of dollars in shortfalls is getting the attention of policy makers in Washing-ton. As we’ve seen, the FHA has been trying to build up its capital position by increas-ing its premiums - the amount borrowers pay

for mortgage insurance to the FHA. Nevertheless, this hasn’t pre-vented the FHA insurance fund from going negative. Therefore, they are looking at implementing some more stringent measures in 2013. This may include increasing premiums, eliminating the ability for FHA insurance to ever be re-moved from a loan, and increasing the minimum FICO score required

By Jon PaukovichEnt—

Existing-home sales continued to improve in November with low inventory supply

pressuring home prices, according to the Na-tional Association of Realtors®.

Total existing-home sales, which are com-pleted transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November from a downwardly revised 4.76 million in October, and are 14.5 percent higher than the 4.40 mil-lion-unit pace in November 2011. Sales are at the highest level since November 2009 when the annual pace spiked at 5.44 million.

Lawrence Yun , NAR chief economist, said there is healthy market demand. "Momentum continues to build in the housing market from growing jobs and a bursting out of household formation," he said. "With lower rental vacan-cy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes. Areas impact-ed by Hurricane Sandy show storm-related disruptions but overall activity in the North-east is up, offset by gains in unaffected areas."

The national median existing-home price-for all housing types was $180,600 in Novem-

ber, up 10.1 percent from November 2011. This is the ninth consecu-tive monthly year-over-year price gain, which last occurred from September 2005 to May 2006.

Distressed homes - foreclosures and short sales sold at deep discounts - accounted for 22 percent of No-vember sales (12 percent were foreclosures and 10 percent were short sales), down from 24 percent in October and 29 percent in No-vember 2011. Foreclosures sold for an average discount of 20 percent below market value in November, while short sales were discounted 16 percent.

"The market share of distressed property sales will fall into the teens next year based on a diminishing number of seriously delinquent mortgages," Yun said.

See November Sales | 11

Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month in December to a level of 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. This marked a two-point gain from a slightly revised November reading, and the highest level the index has at-tained since April of 2006.

“Builders across the country are reporting some of the best sales conditions they’ve seen in more than five years, with more serious buy-

ers coming forward and a shrinking number of vacant and foreclosed properties on the mar-ket,” observed NAHB Chairman Barry Ruten-berg, a home builder from Gainesville, Fla. “However, one thing that is still holding back potential home sales is the difficulty that many families are encountering in getting qualified for a mortgage due to today’s overly stringent lending standards.”

“While there is still much room for

See Builder Confidence | 7 See FHA Alternatives | 7

2 www.csrej.com Colorado Springs Real Estate Journal December 31, 2012

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Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colo-rado Springs, Colorado. CSREJ is published once a month and dis-tributed 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.

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Housing remains on growth track for 2013, but challenges remain

Upward trends in recent months among a num-ber of housing indicators point to a slow and steady growth in the nation’s housing market in 2013, but several challenges re-main, according to the lat-est economic and housing forecast by David Crowe, chief economist for the National Association of Home Builders (NAHB).

“Consistent, positive reports on housing starts, permits, prices, new-home sales and builder confi-dence in recent months provide further confirma-tion that a gradual but steady housing recovery

is underway across much of the nation,” said Crowe. “However, stubbornly tight lend-ing standards for home buyers and builders, inac-curate appraisals and pro-posals by policymakers to tamper with the mortgage interest deduction could dampen future housing demand.”

Stating there is no consistent national trend, Crowe noted the housing re-covery is local but spreading.

HMI

“The HMI has not been above 50 since April of 2006.”

See Challenges | 4

December 31, 2012 Colorado Springs Real Estate Journal www.csrej.com 3

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“We are transitioning from a very low demand level, where most people hold themselves out of the market-place, to a case where supply will start being the prob-lem,” he said. “As we begin to build more homes to ad-dress that supply, the new home stock will be a much more important element of the recovery.”

Setting the 2000-2002 period as a baseline bench-mark for normal housing activity, Crowe said that own-er-occupied remodeling has returned to previously nor-mal levels.

“Multifamily production is also well on its way, back to 69 percent of normal,” he said. “It’s the single-family market that has the farthest to go, standing at only 40 percent of what is considered a typical market.”

Meanwhile, the number of improving housing mar-kets across the nation continues to show considerable advancement. When the

NAHB/First American Improving Markets Index (IMI) was launched in September of 2011, only 12 met-ropolitan areas out of 360 were on the list. As of Decem-ber 2012, the list stands at more than 200 metro areas. The index is based on a six-month upswing in housing

permits, employment and house prices.“One reason we have seen such a significant jump

in the IMI is because house prices are beginning to re-cover,” said Crowe. “House prices bottomed out early in 2011 and since early 2012 we’ve seen a 6 percent in-crease on a national basis.”

Another factor spurring the recovery is that house-hold formations are on the rise. In the early part of the decade, the nation was generating 1.4 million new households each year. This collapsed to 500,000 annu-ally during the housing downturn and currently new households are being formed at close to a 900,000 clip per annum.

“We’re not up to normal, but this is adding to demand for housing,” Crowe said.

As new households form at a growing rate, so too does builder confidence. The NAHB/Wells Fargo Housing Market Index, which measures builder confidence in the single-family housing market, has posted gains for eight consecutive months and now stands at a level of 47. This is very close to the critical mid-point of 50, where equal numbers of builders view the market as good or bad. The HMI has not been above 50 since April of 2006.

S i n g l e - f a m i l y home starts are pro-jected to climb to 534,000 units this year, up 23 percent from 2011. NAHB is forecasting that single-family new-home production will post a healthy 21 percent gain in 2013 to 647,000 units. Starts will con-tinue their upward climb in 2014, posting a further 29 percent rise to 837,000 units.

Multifamily production is expected to rise 31 percent in 2012, reaching the 233,000 level, and posting a solid 16 percent gain in 2013 to 270,000 units. Multifamily starts are anticipated to rise an additional 9 percent in 2014 to 294,000 units.

Meanwhile, new single-family home sales are expect-ed to rise from 307,000 last year to 367,000 this year, a 20 percent rise. Sales are anticipated to climb to 447,000 next year, up 22 percent from 2012 and jump to 607,000 in 2014, a 36 percent increase over 2013 levels.

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

Challenges from 2

“Single-family home

starts are projected

to climb to 534,000

units this year, up 23

percent from 2011.”


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for borrowers to qualify for an FHA loan. All of the changes they have made - and are likely to make in the future - continue to increase the cost of FHA loans for bor-rowers.

It is important for Realtors to know that there are conventional mortgage loan options available for borrowers that are considerably less expensive than FHA loans. FHA pricing for lenders has been very good, but this option may not be the best for the borrower.

Conventional mortgage options have attractive features, such as allowing a loan-to-value (LTV) of 97 percent. This is even less of a down payment than re-quired by the FHA, and private mort-gage insurance premiums may be less expensive. FHA alternatives also offer solutions to accommodate a variety of in-come and credit situations. For example, Fannie Mae’s My Community Mortgage is a great option for many lower income borrowers because it has a reduced mort-gage insurance coverage requirement.

The common misconception after the housing market decline was that private mortgage insurance companies were reluctant to insure mortgages with high LTV’s unless the borrowers were extremely well qualified. That’s not nec-essarily the case. Yes, the requirements are tighter than the FHA but much more reasonable than one might expect. Also, with the FHA having to rethink its pric-ing and policies, conventional products can be great options.

As you work with your clients to get them into that dream home, make sure you work with a knowledgeable lender who will take a vested interest in their fi-nancial condition. Every borrower’s situ-ation is different and FHA loans are not always the right fit. By taking the time to discuss a homebuyer’s budget and their financial goals, a lender should be able to match the best loan option to their specific needs. When a borrower is in an affordable loan with comfortable pay-ments, they can rest assured that their Realtor and their lender were looking out for their best interests.

Mr. Paukovich oversees the direction and management of mortgage lending, including loan servicing, at Ent Federal Credit Union. He can be reached at [email protected]

Got [email protected]

improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe.

Derived from a monthly survey that NAHB has been conducting for the past 25 years, the NAHB/Wells Fargo Hous-

ing Market Index gauges builder percep-tions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor.

Two of the HMI’s three component indexes are now above the critical mid-point of 50. The component gauging cur-rent sales expectations rose two points to 51 in December, while the component gauging sales expectations in the next six months slipped one point, to 51. The component measuring traffic of prospec-tive buyers increased one point, to 36.

The above article has been provided to you compliments of the NAHB.

National News

Got [email protected]

FHA Alternatives from 1

Builder Confidence from 1


In 2012, the Supreme Court of the United States upheld the Affordable Care Act. What does exist is an additional capital gains

tax included within the Affordable Care Act.

There is a new tax on investment income which covers interest income earned, dividends, rents as well as capital gains.

However, this new tax is not a transfer tax on real estate sales.

The only time a principal residence sale can be subject to this tax is when the following criteria come together:

If a married couple makes more than $250,000 or an individual makes more than $200,000 per year during the year their principal residence is sold, the seller’s gain will be subject to this surtax, if the $250,000/$500,000 exemption rule is exceeded.

If the seller is in the higher income bracket, the seller may still not be subject to this tax if the seller’s gain is less than $500,000 for a couple or $250,000 for an individual.

It is a tax on a household with combined income of $250,000 or an individual earning more than $200,000 with a gain over the

$250,000/$500,000 exclusion rule. The exclusion rule was passed during the Clinton Administration as codified in 26 USC 121 which

simply means gain on the principal residence under $250,000/$500,000 is not subject to taxation.

This exemption from taxation on gain under $250,000/$500,000 on

the principal residence still remains in place at this time and therefore not subject to capital gains tax (currently at 15%).

When the tax is applied, it is a surtax of 3.8% of the gain over the

$250,000/$500,000. This is surtax on profit over the $250,000/$500,000 level but not a tax on the total sales price.

Here is an example:

Mr. and Mrs. Smith sell their principal residence and realize a gain of $525,000. They have an adjusted gross income of

$325,000 as it relates to this new tax.

Adjusted gross income (before adding the taxable gain of $25,000) $325,000 Tax gain once the $250,000/$500,000 rule is applied $25,000 New adjusted income (adding the $25,000 of gain) $350,000 Excess over the adjusted gross income of $250,000 for a couple $100,000 The tax on the lesser amount of $25,000 ($25,000 x .038) $950 If Mr. and Mrs. Smith had a gain of less than $500,000 on the sale of their principal residence, none of the gain under $500,000 would be subject to the surtax of 3.8%. Whether they pay a 3.8% tax on excess

gain over $500,000 ($25,000) will depend on other components which affect their adjusted gross income.

This surtax would be handled as an element of the client’s federal income tax return….FIRPTA or the Colorado withholding does not

have any effect….the clients will be subject to the current tax law in the year they sell a principal residence.

For more information and for all your real estate transactions in 2013...

Effective January 1, 2013… Real Estate Sales Tax -

does it affect you?

HBA HOlIDAy PARtyDecember 5, 2012

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MLS#: 780239 | Price: $295,385 — Available Now!12459 Handles Peak DriveAugusta | 2,610 Total Sq. Ft., stucco & stone ranch-style home with 3 car garage, granite countertops, hardwood floors, finished base-ment, 5-piece master bathroom, 4-bedrooms, & 3-bathrooms.CALL: 719-495-6147

Meridian Ranch

AS LOW AS $1,285 / Month!

MLS#: 740298 | Price: $419,950 — Available Now!9155 Dome Rock PlaceHeritage | 3,949 FIN Sq. Ft., ranch-style home with 4-bedrooms, 4-bathrooms, and 2-car garage. Full finished basement.CALL: 719-282-9250

Cordera


MLS#: 496231 | Price: $399,900 — Model HomeFully Decorated and Landscaped. Available 60 days from contract9064 Rockingham DriveHeritage | 4,031 FIN Sq. Ft., ranch home with 5-bedrooms, 3-bathrooms, 3-car garage, finished basement, landscaping, and so much more! CALL: 719-494-8010

Falcon Hills


Indigo Ranch

MLS#: 712621 | Price: $321,006 — Available Now!6262 Silver Nugget DriveSummit | 3,049 FIN Sq. Ft., two-story with 5-bedrooms, 4-bathrooms, 3-car tandum garage, and finished basement. CALL: 719-550-8360


Prices include designer options as selected by Campbell Homes.All payment examples are based on a VA mortgage with 3.25% APR, 0 discount points, no down payment, and 100% financing. Monthly payments stated include principal and interest only; they do not include real estate taxes, insurance, up front mortgage premiums, mortgage insurance, or homeowners association dues or assessments, which will differ between communities and homes selected.*Payments listed are examples only, based on Campbell Homes base prices and specific criteria which may not match your own. But they are a great starting point to understand and explore how much home you might be able to afford.Loan qualifications and interest rates vary based on credit criteria, down payment, loan program and current market pricing. This offer is specific to the above referenced properties and subject to change without notice.

*Offer Details

Total housing inventory at the end of November fell 3.8 percent to 2.03 mil-lion existing homes available for sale, which represents a 4.8-month supply at the current sales pace; it was 5.3 months in October, and is the lowest housing supply since September of 2005 when it was 4.6 months.

Listed inventory is 22.5 percent below a year ago when there was a 7.1-month supply. Raw unsold inventory is now at the lowest level since December 2001 when there were 1.89 million homes on the market.

According to Freddie Mac, the nation-al average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 3.35 percent in November from 3.38 percent in October; the rate was 3.99 percent in November 2011.

NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said there's been speculation of a rise in short sales before the end of the year with pending expiration of the Mortgage Forgiveness Debt Relief Act. "However, there's been no movement in short sales, their market share is staying in a narrow range, and they're still tak-ing much longer to sell - typically three months," he said.

"The fact remains it is extremely diffi-cult to expedite a short sale, and banks' response to client urgency is only start-ing to improve. However, we're hopeful that the act will be extended before it expires on December 31 so sellers don't have to pay taxes on forgiven mortgage debt, which would be unfairly treated as income for owners who are selling under duress," Thomas said.

The median time on market for all homes was 70 days in November, slightly below 71 days in October, but is 28.6 per-cent below 98 days in November 2011. Thirty-two percent of homes sold in No-vember were on the market for less than a month, while 20 percent were on the market for six months or longer; these findings are unchanged from October.

First-time buyers accounted for 30 percent of purchases in November, down from 31 percent in October and 35 per-cent in November 2011.

All-cash sales were at 30 percent of transactions in November, up slightly from 29 percent in October and 28 per-cent in November 2011. Investors, who account for most cash sales, purchased 19 percent of homes in November, little changed from 20 percent in October; they were 19 percent in November 2011.

Single-family home sales rose 5.5 per-cent to a seasonally adjusted annual rate of 4.44 million in November from 4.21 million in October, and are 12.4 percent higher than the 3.95 million-unit level in November 2011. The median existing single-family home price was $180,600 in November, up 10.1 percent from a year ago.

Existing condominium and co-op sales jumped 9.1 percent to an annual-ized level of 600,000 in November from 550,000 in October, and are 33.3 percent above the 450,000-unit pace a year ago. The median existing condo price was $181,000 in November, which is 10.6 percent higher than November 2011.

Regionally, existing-home sales in the

Northeast rose 6.9 percent to an annual rate of 620,000 in November and are 14.8 percent above November 2011. The me-dian price in the Northeast was $232,900, down 2.0 percent from a year ago.

Existing-home sales in the Midwest increased 7.2 percent in November to a pace of 1.19 million and are 21.4 percent higher than a year ago. The median price in the Midwest was $141,600, which is 7.0 percent above November 2011.

In the South, existing-home sales rose 7.9 percent to an annual level of 2.04 million in November and are 17.2 per-cent above November 2011. The median price in the South was $157,400, up 10.5 percent from a year ago.

Existing-home sales in the West rose 0.8 percent a pace of 1.19 million in No-vember and are 4.4 percent higher than a year ago. With ongoing inventory con-straints, the median price in the West was $248,300, which is 23.9 percent above November 2011.

© Copyright National Association of Realtors. Reprinted with permission.

WCR HOlIDAy AuCtIOn December 13, 2012

Jorgette Krsulic, Renate Carrier, Lisa Vargas, Kirsten Kuhlman, Kathy Tutko and Tami Vandeusen.

November Sales from 1


Local News

Coming to Meridian Ranch!New Model Coming in February, Lots Available Now!

5 New Floorplans Starting in the Mid 200’s

4% commission plus an additional$1000 bonus until the end of January!For more information, contact us at 719.495.7664

or visit www.GJGardnerFalcon.com

KEllER WIllIAMS tHAnKSGIvInG POtluCKNovember 20, 2012

Debbie Vahey, Joe Kaiser and Susan Koutantos. Carla Starkey, Judy and Bill Hays. Gloria Mendoza, Encarnita Olson and David Strehlow.

CHFA Advantage helps homebuyers with strong credit save money

Colorado Housing and Finance Au-thority (CHFA) announced a new mort-gage product designed to help home-buyers with excellent credit scores avoid having to make a twenty percent down payment in order to escape costly mort-gage insurance fees. The program, called CHFA Advantage, will reward first time homebuyers with credit scores of 700

and above for their strong track record of financial responsibility.

Cris White, CHFA’s executive direc-tor and CEO said, “Historically, CHFA’s borrowers with a credit score of 700 or more typically have a foreclosure rate of less than one-half of one percent (0.5%). These borrowers have demonstrated that they do what it takes to pay their bills in-full and on-time. It is critical that we help more Coloradans with strong credit achieve homeownership affordably. The risk to CHFA is minimal, and the reward to the homebuyers and our economy is significant.”

Mortgage insurance is typically re-quired for homebuyers who are unable to make a 20 percent down payment to-wards the purchase of their home, regard-less of their credit score. The mortgage insurance protects the lender should the borrower default on their loan. On aver-age, mortgage insurance costs borrowers between $100 and $200 each month. It is paid as part of their mortgage payment until they accrue 20 percent equity in their home. With CHFA Advantage, bor-rowers can avoid the mortgage insurance costs, while only being required to make a three percent down payment. For ex-

ample, with CHFA Advantage, the down payment on a $150,000 home would be $4,500. In the same scenario without CHFA Advantage, borrowers would have to pay $30,000 down in order to avoid mortgage insurance.

White continued, “As rents rise, more people will be looking to buy a home. We know they can afford the mortgage, because often their rent payment is equal to or even slightly higher than what their mortgage payment would be. However, it can be especially difficult for the aver-

Borrowers with a 700 credit score can get a 30-year fixed rate loan with three percent down and no mortgage insurance fees

See CHFA Advantage | 13


Local News

empowering our associates to make a differenceLegacy Title Group, LLC

(719) 442-190025 North Cascade, Suite 215Colorado Springs, CO 80903

“I love Legacy Title. They treat their customers with the utmost care and ef� ciency. They far surpass other companies in their service and knowledge of the industry. If I could steer all transactions to them I would.”

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Marketing Services that can help you with creative � yers, “just listed, just sold” postcards, property pro� le home books, newsletters, customized FARM Leads and Mortgage Lender leads.

On-site Title Department. The best way to serve our client’s needs is to keep our title department in house, not to join a “title production” service. We continue to set the bar with our commitment turn times. We now have our E-Commitments – with links to all of your title documents.

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www.LegacyTitle-LLC.com

The Best Kept Secret in Town[oops]

Find us.

To the Donors of the WCR Holiday Auction!

Thank You

Colorado Casa RealtorsVIP Mortgage

Jessica Williams, MassageThe Real Estate Book

Jewelry by LaRa The Point Bar and Grill

Stewart TitleLucy's @ 21st

BorisRocky Mountain Community Land Trust

Byers Family ChiropracticKristen Calarco DesignsHome Team Inspection

Essential ProteinJulie Gowen, HarmonyInHair

Andrea Burkey, Freelance MarketingAnytime Fitness

Colorado Springs Real Estate JournalThe Marketing Group

Cordera HomesBudget SignsSign A Rama

Tri Lakes PrintingLand Title

Donna Major, RE/MAX Real Estate GroupDawn Grubbs, Mary Kay

Karen Gale, MassageColorado Western Title

WCR StateUnifi ed TitleKW Partners

Capstone TitleQuality Suites

The Professionals Home Staging & DesignMercedes Benz of Colorado Springs-Reginald

Fidelity TitleRenate Carrier, Equity Colorado

Empire Title

To the Donors of the

Thank YouThank You

Portions of the proceeds will be donated to TESSA.


Join Joe on Fridays at noon for an invigorating look at real estate in today's market. This live call-in show will discuss the pros and cons of today's real estate market, interview real es-tate industry specialists such as mortgage lenders and home stagers and will answer consumer's questions via the listener's line (719)203-5908. Dial your radio into 1580am or visit www.KREL1580.com to listen via your computer or mobile device! Sponsored by RE/MAX Properties, Inc.

New real estate radio show in Colorado Springs!

Prudential Rocky Mountain, Realtors supports Kids Crossing

REAL RADIO REAL ESTATE with Joe Clement.

Prudential Rocky Mountain, REAL-TORS® is proud to participate annually with Kids Crossing, a child placement agency providing foster care and group home care for children in Colorado Springs, Denver and Pueblo.

“We certainly appreciate the active participation by our professional bro-ker associates and staff to make a child’s Christmas a little happier said Jack Glo-riod – Owner. We look forward to help-ing this great organization every year and making a difference where we can.”

Kids Crossing serves children up to

eighteen years old. In addition to foster care for children who have been victims of abuse and neglect, they also serve chil-dren with developmental and medical needs, teen moms and their babies and a wide range of other individual needs.

For more information on Kids Crossing visit www.KidsCrossing.com.

Photo, from Right to left: Owners Jack and Becky Gloriod, Kathie Olson - Director of Relocation, John Tighe - Business Director. Not pictured, Jay Gupta - Partner/Managing Broker.

age family or a single-person to save enough money for a 20 percent down payment. Because of this, even buyers with strong credit are penalized by having to spend money on mortgage insurance. This is money they could be saving, or investing back into our economy.”

CHFA estimates that CHFA Advantage will help 800 Colorado households in 2012 and 2013. For every 100 households served, $20.5 million in direct economic impact will be created and 104 jobs will be supported.

To be eligible for CHFA Advantage, borrowers must:

• Be a first time homebuyer, eligible veteran, or non-first time homebuyer pur-chasing in a targeted area;

• Have a minimum 700 credit score,• Meet qualifying income and home purchase price limits,• Contribute at least three percent of the loan amount towards their down pay-

ment; and• Complete a CHFA-approved homebuyer education class.

CHFA’s income and purchase price limits vary by county. The income limits in El Paso County are $74,100 for a one or two person household, and $85,200 for a family of three or more. To view a complete list of the income and purchase price limits or for more information about CHFA Advantage, visit www.chfainfo.com or call CHFA’s Denver office at 1.800.877.2432 or Western Slope office at 1.800.877.8450.

CHFA Advantage from 12


Local News

F L Y I N G H O R S E W E L C O M E C E N T E R2 4 0 9 F L Y I N G H O R S E C L U B D R I V E ,C O L O R A D O S P R I N G S , C O 8 0 9 2 1

www.FlyingHorseColorado.com

DAZZLING NEW MODELS, GORGEOUS NEIGHBORHOODS,

ATTRACTIVE NEW PRICING.

Luxury living has come a long way in the past few years. But you don’t have to look hard (or far) to discover how much more home your money can buy in today’s competitive marketplace.

Just come to Flying Horse. With five new, fully-furnished models, (and three new neighborhood village areas), we’ll show you the best and newest that contemporary Colorado living has to offer.

Finished homes, ready for immediate move-in? Newly released homesites? Golf course views? You’ll find them right here—along with custom floorplans from award-winning builders, and a dizzying choice of lots in any of our eight neighborhood villages. And, all new homes come with Membership in The Club at Flying Horse—the crowning jewel in our much-celebrated community, and one of its most compelling features.

So don’t wait. If you’re looking for a new direction in life, follow your impulses.

Come to Flying Horse today.

PREFERRED COMMUNITY BUILDERS: Bella Vita Custom Homes, *Classic Homes, Copperleaf Homes, *Goetzmann Custom Homes, *Hammer Homes, Majestic Custom Homes, *Saddletree Homes, Saint Aubyn Homes, Symphony Homes, Vanguard Homes

For more information on newly released lots – Call Flying Horse Realty(719) 886-4800 or visit the Flying Horse Welcome Center:2409 Flying Horse Club Drive, Colorado Springs, CO 80921

* Builders listed in italics showcase fully decorated model homes in Flying Horse.

PATIO HOMES | TOWNHOMES | SINGLE-FAMILY HOMES CUSTOM HOMES & HOMESITES | ACTIVE-ADULT LIVING | TEN NEIGHBORHOOD VILLAGE AREAS

Classic Homes - (719) 495-729713135 Cake Bread Heights Paired-patio Ranch Plan, 4 bed / 3 bath / 3 car garage$360,047 - Available Now - MLS #746108

Saint Aubyn Homes - (719) 264-888813242 Crane Canyon Loop3 bed / 2.5 bath / 3 car garage$361,000 - Available Now - MLS #728158

Classic Homes - (719) 495-72971124 Spectrum Loop5 bed + study / 3.5 bath / 3 car garage$399,900 - Available Now - MLS #798787

Vanguard Homes - (719) 487-89572015 Turnbull Drive4 bed / 2.5 bath / 3 car garage$599,988 - Available Now - MLS #781871

Classic Homes - (719) 495-72972445 Veneto Way3 bed / Study / 2.5 bath / 3 car garage$412,580 - Available Now - MLS #745221

Bella Vita Custom Homes - (719) 201-978213494 Drytown Grove4 bed / 4 bath / 3 car garage$679,900 - Under Construction!

* Pricing and availability subect to change.

FLYING HORSEAVAILABLE HOMES

HBA of Colorado Springs approves extension of its assessment program to the Regional Business Alliance through 2013HBA reinforces its support for Mayor Bach’s Goal of creating 6,000 new jobs

On Wednesday, November 14th, the Housing & Building Association of Col-orado Springs convened a special meet-ing of its builder members to discuss the renewal of the builder assessment pro-gram to the Regional Business Alliance

(formerly the Economic Development Corporation).

The assessment program was institut-ed many years ago by the HBA to support the EDC’s jobs mission. Through the as-sessment program, HBA builder mem-

bers pay an additional fee to the Regional Business Alliance through their building permits. These fees are collected by HBA and then passed to the Regional Business Alliance as part of their budget.

Regional Business Alliance assess-

ments from HBA are currently averaging $50,000 annually, but have been much higher when building activity (and the overall economy) have been stronger as the fee is charged per building permit. In addition to the direct assessment, in-dividual HBA members support the Re-gional Business Alliance with more than $200,000 year in direct additional rev-enue. The combined funding from HBA make the Housing & Building Associa-tion one of the largest financial support-ers of the Regional Business Alliance.

HBA began supporting the formerly created economic development corpora-tion due to its mission of creating prima-ry jobs for the City and the region. From time-to-time HBA holds special meet-ings of its builder members to discuss the program’s continuation in relation to the original mission of the EDC.

After the November 14th meeting, HBA voted to continue its Regional Business Alliance assessment at the pres-ent level for twelve months.

“We believe the Regional Business Alliance serves a critical mission for our community and we applaud the Regional Business Alliance’s rise to the challenge of Mayor Bach’s goal of 6,000 jobs cre-ated in 2013. While we fully support the work of the Regional Business Alliance, we want it to be very clear that our HBA members rely on primary job cre-ation for the success of our businesses. A ma-jority of our builders feel that twelve months is an adequate time frame for the new organi-zation to show positive results and also to produce a strategic plan we may review during this next year,” said John Bissett, President of JM Weston Homes and the newly installed HBA President.

“We also want to take this oppor-tunity to reiterate our strong support of Mayor Bach’s call for the creation of 6,000 new jobs in 2013 as the right di-rection for Colorado Springs,” said HBA President Bissett.

“We fully understand the Regional Business Alliance is a new organization, and that is why we moved forward with an extension of our assessment program for twelve months into 2013. During this next year, we encourage the Regional Business Alliance to develop a strategic plan with measureable outcomes to cre-ate new primary jobs in the Colorado Springs metropolitan area and work with Mayor Bach on a joint agenda for adding critically important primary jobs to our region,” added HBA President Bissett.

The HBA of Colorado Springs is a non-profit trade association comprised of over 460 member com-panies. The local association is affiliated with the Colorado Association of Home Builders with a membership exceeding 2,000 and the National Association of Home Builders, which has more than 140,000 member companies nationwide. The HBA of Colorado Springs is committed to pro-moting policies that allow for the production of safe, decent and affordable housing and to enhancing the environment for the housing and building in-dustry in El Paso County.

Bissett


Prices, specifications, availability, and rewards program are subject to change without notice.

Available Homes

719-203-5448www.ReunionHomesColorado.com

Reunion Homes Colorado.Shouldn’t every day be a homecoming?

Reunion HomesColorado Springs, CO

Temporary model address in Willshire Ranch:

2247 Blue Fescue Ct.

Directions: East on Constitution Ave. South on Hannah Ridge

Right on Reed Grass Way and Right on Blue Fescue Ct.

2184 Reed Grass WayWilshire Ranch

2247 Blue Fescue Ct.Wilshire Ranch



7578 Muhly CourtWilshire Ranch

$255,997Ready to Move In

Floor Plan: StrattonStyle: 2-StoryTotal Sq. Ft.: 3581Fin. Sq. Ft.: 2457• 4 bedrooms and 2.5 Baths• 2 Car Garage with Opener• Full Basement• 5-Piece Master Bath• Granite Countertops• Hardwood Floors

$256,900 Ready to Move In

Floor Plan: The Red RockStyle: 2-storyTotal Sq. Ft.: 3387Fin. Sq. Ft.: 2340• 3 bedrooms and 2.5 Baths• Granite Countertops• Hardwood Floors • Fireplace• Cul-de-Sac Home site

$214,900Available January

Floor Plan: The InclineStyle: 2-StoryTotal & Fin. Sq. Ft.: 1884• 3 bedrooms and 2.5 Baths• 5-Piece Master Bath• 2 Car Garage with Opener• Granite Countertops• Hardwood Floors• Expanded Patio

$273,100Available March

Floor Plan: Pikes PeakStyle: 2-storyTotal & Fin. Sq. Ft.: 3364• 4 Bedrooms and 3 Baths• 5-Piece Master Bath• 2 Car Garage with Opener• Fireplace• Granite Countertops• Covered Patio

$272,200Available February

Floor Plan: The CutlerStyle: RanchTotal Sq. Ft.: 3350Fin. Sq. Ft.: 3106• 4 Bedrooms and 3 Baths• 3.5 Car Garage with Opener• Fireplace• Finished Basement• Granite Countertops

Reunion Homes wants to show you the money with 4% on total price &

Reunion Rewards*.

6654 Alliance LoopLorson Ranch

$299,700Available January

Floor Plan: Pikes PeakStyle: 2-StoryTotal Sq. Ft.: 4897Fin. Sq. Ft.: 3364 • 4 bedrooms and 2.5 Baths• 2 Car Garage with Opener• Full Basement• Fireplace• Granite Countertops• Hardwood Floors• Fully Landscaped



Floor Plan: Pikes PeakStyle: 2-StoryTotal & Fin. Sq. Ft.: 3364• 4 bedrooms and 2.5 Baths• 5-Piece Master Bath• 2 Car Garage with Opener• Granite Countertops• Hardwood Floors• Fully Landscaped

7836 Stockton DriveMesa Ridge


Floor Plan: The InclineStyle: 2-storyTotal & Fin. Sq. Ft.: 1884• 3 Bedrooms and 2.5 Baths• 5-Piece Master Bath• 2 Car Garage with Opener• Fireplace• Granite Countertops• Hardwood Floors

When you close your 1st home with us, you become eligible to start earning more money with us.

For every home sold after the first, earn an additional $1,000 per sale.

For every 5th home you sell with us, you earn a

$5,000 bonus!*

2011 2012 People’s

Choice Award


$266,300 Available February

Floor Plan: The CutlerStyle: RanchTotal Sq. Ft.: 3350Fin. Sq. Ft.: 3106 • 4 bedrooms and 3 Baths• 2 Car Garage with Opener• Fireplace• Finished basement• Granite Countertops• Hardwood Floors• Fully Landscaped

Parade of

Homes

Winner

Parade of

Homes

Winner

7867 Stockton DriveMesa Ridge


Floor Plan: The CascadeStyle: 2-storyTotal Sq. Ft.: 4153Fin. Sq. Ft.: 2797 • 3 Bedrooms and 2.5 Baths• 3 Car Garage with Opener• 5-Piece Master Bath• Granite Countertops• Hardwood Floors

Parade of

Homes

Winner


• NewHomesavailablenowforimmediatemovein.

• Homesfromthe$200’stothe$500’s

• InnovativeNeighborhoodSchools

• 30,000Sq.Ft.RecreationCenter&OutdoorPool

• AntlerCreekGolfCourse

• CreekViewGrill

• NeighborhoodParks&PavedTrails

• OpenSpaces&Views

• MinutestoPeterson&SchrieverAFB

• EasyAccesstoI-25,Hwy.24&ColoradoSpringsAirport

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

Discover Why People Love Living Here.

SEVEN MODEL HOMES | OPEN DAILY UNTIL 5PM


On the Move

James, Owens, lowery Keller Williams Partners

Sandra James has a BS in Accounting and in Business Administration and is brand new to real estate. She has lived in Colorado Springs for a total of ten years. She has held various positions as a cor-porate accountant specializing in cash management, tax, compliance, and fixed assets.

She is a very competitive tennis player who is addicted to HGTV, diet coke, and loves fun get-togethers with friends and family.

She has been interested in real estate and home building design since she was a child and believes that she should have been doing this for years.

Matt Owens has a Bachelors in Busi-ness Administration and has worked in many different career fields in the past. He is brand new to Real Estate but he is a self starter and likes to help others, mak-ing this a great career choice. He is a huge fan of Colorado and enjoys the outdoors.

Tammy Lowery moved to the Colora-do springs area in 1997. She moved from Germany where she was born and raised and is fluent in the German language.

Tammy has three children and three grandchildren and loves spending time with all in her free time.

Tammy is involved in the Mommy-Baby program where she gives mothers with disabilities the opportunity to live with their children and provides a safe, supportive home for those.

Besides spending time with her family Tammy also loves to paint.

Real estate has always been Tammy's interest and now that her children are old enough it has become a dream come true to help others pursue their dreams.

Choncita Acklay Merit Company

I have been in real estate since 2002. I am experienced in property manage-ment and specialize in foreclosure prop-erties. I look forward to helping anyone with their real estate needs.

Greg luczak Coldwell BankerResidential Brokerage

Greg Luczak, an accomplished real estate professional, has joined Coldwell Banker Residential Brokerage in Colo-rado Springs as a broker associate. Luc-zak is now serving the diverse real estate needs of clients throughout the Colo-rado Spring area, including Briargate and Powers.

“We are pleased to welcome Greg to our top producing team of Realtors,” said Zane Whitfield, managing broker for Coldwell Banker Residential Brokerage in Colorado Springs. “He garnered pres-tigious sales awards the past two years at his former real estate firm and brings a sincere dedication to the industry and a commitment to superior customer service to Colorado’s leading real estate company.”

Luczak’s professional background in-cludes marketing and graphic design. He earned his bachelor’s degree from East-ern Washington University and is an avid San Francisco Giants fan.

Kunce, Kemp The Platinum Group

Mike Kunce: As a Colorado Springs native, I have watched our beautiful city

grow into a big place. It's challenging and exciting to help people buy and sell homes. My familiarity with the area and 16 years of experience in the industry are an advantage when working with our cli-ents, and my expertise in contract nego-tiation helps them get the best deal pos-sible. Making a real estate purchase is a big decision, and I feel it's my job to make the process smooth for my clients.

Bill Kemp: I have 25 years of helping families and friends buy and sell homes throughout Colorado Springs. I am a trusted advisor and 90% of my business is from past clients. Both locally and na-tionally, I am in the top 1% of all realtors. Call me today for your Real Estate Suc-cess.

McWilliams, Seeley, Ours, Wyatt RE/MAX Properties

RE/MAX Properties, Inc., Southern Colorado’s largest real estate company, is proud to announce continued growth in 2012. Four talented broker associates have joined RE/MAX Properties, Inc.

Mark McWilliams is the new broker manager of RE/MAX Properties, Inc.’s Monument office. Mark is an Air Force Academy graduate with a beautiful wife, two sons and a daughter. “With nearly 10 years in Real Estate and 25+ years in Col-orado Springs, I bring a wealth of knowl-edge and expertise about buying and selling real estate in Colorado Springs and surrounding communities.” Mark is passionate about selling new construc-tion. He is also team oriented and has

the tendency to pull those around him to new heights.

Kimberly Seeley is a dedicated Army spouse of 10 years and mother of 2 chil-dren. She relocated to Colorado Springs in January 2011. “In the last two years, we've grown to love Colorado Springs and feel like we have finally found a home.” Kim-berly has a background in software engi-neering which gives her a unique insight into a lot of the Real Estate technological advancements of today.

Danny Ours and his family are famil-iar with the anticipation, apprehension, adjustments, and decisions associated with city to city and intra-city reloca-tions and home purchases after over 18 moves during an Air Force Career, where he retired as a Chief Master Sargent and subsequent transfers while holding senior and executive level positions in Public Transit. “I am accustom to work-ing with people from all walks of life, at all levels of government and private sec-tor businesses, and enjoying their trust and confidence as we achieve successful outcomes for matters of mutual interest.” Danny is married with two daughters and three grandchildren.

Patrick Wyatt has been in Real Estate for 19 years. Ten years in Dallas – Fort Worth, Texas, Six years in Norman, Oklahoma and three years here, in Colo-rado Springs. Patrick is multifaceted in Real Estate, having held positions as an agent, branch manager, trainer, recruiter and appraiser. Most recently Patrick has been working with his father, who is 86, in the appraisal aspect of Real Estate. He also got married to his beautiful wife, Tammy, on September 22nd.

See Page 2

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Peak Producers’ Holiday Gala - Dec. 6, 2012

“How the Grinch Short-Sold Christmas”

Every Who down in Whoville Liked Christmas a lot …

But the Grinch in the Short Sale Department did NOT!

The Grinch hated Christmas! And he hated the Who’s!And he wouldn’t be happy ‘til their house they would lose.

Now why did the Grinch want to see Whoville fall?Could it be that his heart was two sizes too small?

Or could it be that he had not one at all?

He knew that the next day would be Christmas Eve.What a wonderful holiday to make them all leave.

While the Who’s would be gathered enjoying their feast,He’d repo the houses and cars that were leased.

He might even foreclose on the rare Who Roast Beast.

“I know just what to do!” The Grinch laughed in his throat.And he made a quick Santy Claus hat and a coat.

And he chuckled, and clucked, “What a great Grinchy trick!Red must be my color; I look pretty slick.”

“All I need is a reindeer to start my attacks.”So he stapled on antlers to his poor old dog Max.

Then he tied on his leash and they headed to town,prepared when he got there to bring the house down.

And those homes underwater: he’d help them all drown.

The first one he came to was charming but slight;a “handyman special” describes it just right.

Some paint here and there, and a little home stagingWould make for new buyers this house seem amazing.

“Nonsense” thought Grinch, changing locks on each door.Then he went to the next house to take back some more.

To tri-levels, two-stories and ranches he went,starting foreclosures for lack of payment.

Each house that he came to did have its own needs,But he slapped his Grinch name on the Warranty Deeds.

“I care not for your effort in trying to sell.Your lives and good credit will go straight to hell.”

Grinch marched throughout Whoville, with Max pulled behindWhen upon a street corner he found a strange find.

He stopped in his tracks and then focused a minute…“There’s a Who house for sale, and there’s Who buyers in it!”

He crept to the window and fell to his kneesAnd watched with great wonder as Who’s exchanged keys.

As he stood in amazement, preparing to leave,He felt a firm tug on the back of his sleeve.

Frozen in fear and unsure what to do,‘Twas Cindy-Lou Realtor behind him, that’s Who!

“Mr. Grinch, I implore you: Stop taking our homes.As things turn-around, we’ll get straight on our loans.

We will sell or refinance or modify, maybe.So give us a chance. C’mon - Who loves you, Baby?!

She brought him inside without any resistance.How could he say “No” to such grace and persistence?And Who would believe it, this noise he was hearing?

The sound of who knows of how many Who’s cheering.Invited to stay, he partook of the feast

Of Who-pudding, Who-pizza and Who-mongous Roast Beast.

And what happened then?Well, in Whoville they say

That the Grinch’s small heartGrew three sizes that day

The Grinch and the Who-ha’s could finally relax;and, they pried off the antlers from his poor old dog, Max.

Forgiveness was given. They all understood:The Grinch would help Whom and the Who neighborhood.

Said Cindy-Lou Realtor: “Here’s why you’ve been mental:You must let me help you get out of your Rental.”

THE END

By Michael J. Podoyak, Marketing ManagerEmpire Title of Colorado Springs, LLC (Based on original story by Dr. Seuss)

Michael J. PodoyakEmpire Title—


Thursday, January 3Masterminds 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

Friday, January 4Pikes Peak Exchangors8am – 9:30am @ Valley High Country [email protected]

Monday, January 7CREC Contract Changes Update1pm – 4pm @ Chicago [email protected] 719.232.2365

Wednesday, January 9Mandatory Commission Update 20138:30am – 12:30pm @ Empire [email protected] 719-884-5300

Thursday, January 10Farm and Land8am – 9:30am @ Maggie Mae'sLarry Prewett: 719-332-0592

Tax Strategies for the Real Estate Professional9am – 11am @ Fidelity National [email protected] 719.640.9454

Women's Council of Realtors11am – 1pm @ Clarion Hotel (I-25 & Bijou)Michele: 719-633-7718

Mandatory Commission Update 20131pm – 5pm @ Empire Title Woodland Park719-686-9888 [email protected]


State of the State w/John Hickenlooper8am – 10am @ Colo Sprgs Fine Arts CenterColoradoSpringsBusinessAlliance.com

CREC 2013 Annual Commission Update8:30am – 12:30pm @ Fidelity National [email protected] 719.640.9454

Tuesday, January 15NARPM Meeting11am – 1pm @ Clarion Hotel (314 W. Bijou)Porsche Harvey, 599-9664

Wednesday, January 16Beginners eContracts Class10am – 12pm @ Empire [email protected] 719-884-5300

Intermediate CTMeContracts Class2pm – 4pm @ DeVry Universitywww.ctmecontracts.com

Thursday, January 17HBA Breakfast w/the Builders8am – 11am @ Freedom Expo Centerwww.cshba.com

Mandatory Commission Update 20138:30am – 12:30pm @ Empire [email protected] 719-884-5300


Independent Brokers Forum9am – 10:30am @ [email protected]

Wednesday, January 23New Contracts 20138:30am – 12:30pm @ Empire [email protected] 719-884-5300

Thursday, January 24Farm and Land8am – 9:30am @ Maggie Mae'sLarry Prewett: 719-332-0592

New Contracts 20131pm – 5pm @ Empire Title Woodland Park719-686-9888 [email protected]

Around the Corner

* 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.

View the Paper Online, Anytime. facebook.com/csrej

HAPPY NEW YEAR!~CSREJ Staff

Commission?Angling

The “Hooked on Classic” Realtor Recognition Program is coming to a close! 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 and get outfitted for the biggest adventure ever.

Here’s how it works—by the numbers…

The 2012 Hooked on Classic program applies to all sales and closings for Classic Homes new construction and speculative inventory. Qualifying Realtors will have a chance at other special prizes throughout the year!

Don’t miss the 2012 Hooked on Classic Realtor Recognition Program.

The catch? You have to qualify to participate.

Program Terms and Conditions:1) Hooked on Classic 2012 Bonus Incentives will be paid on all contracts

originated between 1/1/2012 and 12/31/2012 and must close by 2/15/2013. 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/o�ce 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. *Pricing and

availability subject to change.

1st Closing4% commission on base price and qualify for the Hooked on Classic Program.

2nd Closing4% commission on base price + $1,000 Bonus

3rd Closing4% commission on base price + $2,000 Bonus

4th Closing (and beyond)4% commission on base price + $3,000 Bonus

www.ClassicHomes.com/Hooked

Call or visit your nearest Classic Homes Sales Model today and get outfitted for the biggest adventure ever.

1) Hooked on Classic 2012 Bonus Incentives will be paid on all contracts originated between 1/1/2012 and 12/31/2012 and must close by 2/15/2013.

NORTHWOLF RANCH6026 Wolf Village Dr (80924) 4 bed, 2.5 bath, 2 car garage3,430 Sq. Ft. 2-Story Plan, $319,961Call 719-282-1650

MLS #746108 – VILLAGE OF SIENA AT FLYING HORSE 13135 Cake Bread Hts (80921) 4 bed, 3 bath, 3 car garage3,226 Sq. Ft. Paired-Patio Ranch Plan, $360,047 Call 719-495-7297

MLS #798787 – VILLAGE OF SARATOGA AT FLYING HORSE1124 Spectrum Loop (80921)5 bed, study, 3.5 bath, 3 car garage3,853 Sq. Ft. 2-Story Plan $399,900Call 719-495-2797

MLS #745221 – VILLAGE OF ENCORE AT FLYING HORSE 2445 Veneto Way (80921) 3 bed, study, 2.5 bath, 3 car garage 3,242 Sq. Ft. Ranch Plan, $412,580Call 719-495-7297

SOUTHMLS #768581 – LORSON RANCH

6869 Alliance Loop (80925)

4 bed, 3 bath, 3 car garage

2,891 Sq. Ft. 2-Story Plan, $262,355

Call 719-390-6200

MLS #717601 – LORSON RANCH 6870 Alliance Loop (80925)

4 bed, 2.5 bath, 2 car garage

3,443 Sq. Ft. 2-Story Plan, $274,669

EASTMLS #787971 – BANNING LEWIS RANCH 8088 Hollygrape Ln (80927)


2,757 Sq. Ft. Ranch Plan, $256,637

Call 719-886-4995

MLS #782335 – INDIGO RANCH AT STETSON RIDGE7784 Renegade Hill Dr (80923)


3,176 Sq. Ft. Ranch Plan, $329,183

Call 719-574-1100

MLS #733283 – BANNING LEWIS RANCH 7147 Buckoak Court (80927)


3,489 Sq. Ft. Ranch Plan, $359,900

Call 719-886-4995

MLS #737302 – MERIDIAN RANCH10967 Klondike Dr (80831)


4,241 Sq. Ft. Ranch Plan on Large Lot

$399,900Call 719-494-1101

FeaturedInventoryALL ReadyFor QuickMove-in!

For a Big

SOLD

SOLD

SOLD

2012Program Qualifying

Ends 12/31/2012

december 31, 2012

Documents

state lic

fha insurance fund

aric ulmerloan o cer719

tobi mondejarloan o

n o r t h u n i o n

d o s p r i n g s

mortgage insurance

s u i t e