Monument and Colorado Springs Real Estate

Defaults on Government Backed Mortgages

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Wed, 02 Dec 2009 10:59:00 -0600

Defaults on Government Backed Mortgages

Defaults on government backed mortgages, or FHA, have started to rise! Lately, FHA mortgages have been what just about everyone has been using to purchase their homes. Add to the mix the tax incentive, and people are out there taking full advantage of the government money.

Well, the news, today, isn't good. The government has been experiencing more than usual defaults on loans, with a few lenders at the root of the problem. To overcome this problem FHA is considering tightening their loan limits AND raising their requirements for credit scores.

This will impact the small recovery we've experienced; it won't help the market at all! And it's because of a few greedy lenders. In light of what we've recently gone thru, it's just plain irresponsible!

What do you think? What are you seeing in your market?

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Markets Focused On Dubai Debt Fears

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sat, 28 Nov 2009 10:07:58 -0600

Markets Focused On Dubai Debt Fears

by The Associated Press
November 27,2009

Dubai's debt crisis rattled world financial markets Friday, raising concerns that some banks could further tighten lending and stall the global economic recovery.

The possible spillover effects centered on fears that international banks could suffer big losses if Dubai's investment arm defaulted on its $60 billion debt. Stock and commodity markets tumbled in New York, London and Asia as investors flocked to the U.S. dollar as a safe haven.

But earlier concerns that the crisis might trigger another financial meltdown seemed to ease after some analysts downplayed the risks for U.S. banks, which are thought to have little exposure to the Middle Eastern city-state.

U.S. stocks fell sharply but rebounded from their lows as investors concluded that the damage might be contained. The Dow Jones industrial average lost about 155 points, or roughly 1.5 percent, in a shortened trading day, and other stock averages also sank.

"I don't think the collateral damage is going to be that great," said Jeffrey Saut, chief investment strategist at Raymond James. "People will dig into this over the weekend, but I think balance sheets have healed enough to withstand a shock like this."

Still, the crisis in Dubai pointed to the vulnerability of the global economy despite signs of recovery. Last year's credit debacle left major banks with billions in losses, forcing them to reduce lending to consumers and businesses.

Access to credit has improved in recent months, but analysts said Dubai's woes could make some banks more cautious. That could further squeeze lending and weaken the recovery.

"What we need for the economic momentum to continue is for banks to feel confident about lending, and clearly what has happened in the last 48 hours is not a step in the right direction," said David Williams, banking analyst at Fox-Pitt Kelton in London.

Dubai's troubles caught investors by surprise. A year after the global slump derailed the city-state's dizzying growth, its main investment arm, Dubai World, revealed this week it was seeking at least a six-month delay on repaying its $60 billion debt. Credit agencies responded by slashing debt ratings on Dubai's state companies, saying they might consider the plan a default.

In recent years, Dubai has expanded with ambitious, eye-catching projects like the Gulf's palm-shaped islands and the world's tallest skyscraper in hopes of becoming a tourist-friendly Middle Eastern metropolis. In the process, though, the state-backed networks nicknamed Dubai Inc. have racked up $80 billion in red ink. The emirate may now need another bailout from its oil-rich neighbor Abu Dhabi, the capital of the United Arab Emirates.

In Europe, stock markets rebounded after Wall Street fell less than feared. Earlier, stock indexes in Hong Kong and South Korea tumbled 5 percent in response to the previous day's Dubai-related losses in Europe.

The Dubai crisis caused the dollar to spike higher against the euro and pound but slump against the yen, another traditional safe haven. Speculation that the Bank of Japan might intervene by buying dollars or selling yen to aid Japanese exports helped the dollar recover after it had fallen to a 14-year low against the yen.

British banks appeared to be at most risk if Dubai World can't pay its bills. London-based lenders HSBC Holdings and Standard Chartered could face losses of $611 million and $177 million respectively, according to early estimates from analysts at Goldman Sachs. Both have substantial Middle East operations.

In Asia, Japan's Sumitomo Mitsui Financial Group, the country's No. 3 bank, could be exposed to Dubai World's indebted property arm at the cost of several hundred million dollars, according to a person familiar with the matter.

South Korea estimated the country's financial institutions have just $88 million in exposure. Construction firms from Japan, Australia and South Korea behind Dubai's recent development boom also might be on the hook.

Among U.S. banks, Citigroup Inc. had $1.9 billion in exposure to the United Arab Emirates as of 2008, according to a JPMorgan research note. But it's unclear how much of that was related to Dubai. Citigroup declined to comment.

Even if most banks could absorb any Dubai-related losses, the emirate's troubles could lead them to reevaluate and scale back lending. That would make it harder for companies to borrow and to help sustain the global recovery after the deepest recession in decades, analysts said.

Equally unsettling for investors was uncertainty over which companies were exposed and how much money they might lose. European banks alone have $87 billion at risk in the emirate.

"It touched investors' sensitive nerves," said Cai Junyi, an analyst for Shanghai Securities. "The world is watching whether that will have any substantial impact ... Dubai World is just like a small window that might reflect another financial tsunami."

Emerging markets in the Middle East and elsewhere have attracted enormous capital amid investor enthusiasm for regions with rapid economic growth. This year, markets in Asia and Latin America have vastly outperformed those in the U.S. and Europe. But Dubai's woes could stall the buying behind the boom, analysts said.

"I think it will make investors realize they need to be more discriminating about emerging markets," said Arjuna Mahendran, head of Asian investment strategy at HSBC Private Bank in Singapore. "In the longer term we have no doubt that things are going to recover."

HSBC declined to comment. Calls to Standard Chartered representatives were not returned.

Among other companies with Dubai ties, South Korean construction firms have about 40 projects there whose remaining work is valued at up to $3 billion. South Korea's government said it expected the problems to have minimal impact.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday, Oakland, NE

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 15 Nov 2009 18:29:50 -0600

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday - Old Town Eureka

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 08 Nov 2009 19:23:38 -0600

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

You Be the Judge - Before and After Photos

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 08 Nov 2009 19:17:18 -0600

You Be The Judge - Before and After Photos

This vacant home is for sale. It's my listing...I tried to stage it. But, I know I'm not good at it. So, I hired a professional. You won't have any trouble telling the difference between the two!

Looking now at my attempts to "stage" the house, it's comical! What a great job "my" stager did. Would you like to know who did this staging? Click Here. And in case you're interested in knowing more about this great 2-story Woodmoor neighborhood, Monument, CO, home...click here.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Wordless Wednesdays - Big Chair, Little Chair

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Wed, 04 Nov 2009 20:30:01 -0600

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Penrose St. Francis Hospital

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Wed, 04 Nov 2009 19:22:11 -0600

Penrose St. Francis Hospital

Thank you!

We had to take my son, 35 years old, into the ER last night. He was weak and tired, complaining of headache, stomach pain, shoulder pain, and dehydration from diarrhea, and vomiting. He passed out on us once, and passed out on the doctor while being examined.

The ER staff was wonderful! Caring, respectful, knowledgeable. He was put on liquids to rehydrate, given morphine when tramdol didn't work, and anti-virals when they believed his heart arrhythmia was caused by a virus. In about 45 minutes, he was greatly improved, but they kept him overnight for observation.

This morning, they'd found out that his heart event was caused by being under so much physical stress, and nothing to worry about. And after a CAT scan for blood clots, which was negative, he was sent home. Feeling 150% better!

Thank you to all the staff and folks at our north facility of Penrose St. Francis Hospital!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday - Ice Box

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 01 Nov 2009 11:23:12 -0600

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Warning! Danger! The Trees are Dying!

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Thu, 29 Oct 2009 14:23:25 -0500

Warning! Danger! The Trees are Dying!

This photo is of the Colorado River headwaters as it pours out of the Rocky Mountains, just south and west of the Rocky Mountain National Park. It was taken in the summer of 2005. It's a beautiful scene, but if you look closely, you notice the dead trees.

The trees are Lodge Pole pine trees that have been infected with the Pine Bark Beetle. These little pests are destroying all the trees in the Rocky Mountains. And they are moving to destroy what's left. Very large swaths of the trees across the mountains are dead and brown. When the beetles are done with the trees, the very dead, dry branches hang down, as evidenced by the trees on the left in the foreground. They look so sad with the dead drooping branches, like they cried themselves to death.

It's been impossible to stop these bugs. Many people have their trees sprayed with insecticides, but that only slows the beetles down; it doesn't kill them. And the dead trees are, of course, a fire hazzard, and must be taken down.

In this photo, taken a couple of years later, the dead trees appear gray. The brown trees from the previous photo, will turn gray with time.

This is an upclose view of the damage the bettles can cause. The yellow trees are Aspens turning in the fall. And just this week, I heard that the Aspen trees are beginning to die off. They have a 20 year live span and many are just dying.

We, as a state, national, and as a global community, have lost a great deal to these beetles. The trees are a large part of the eco system. They add oxygen to the air, and filter out harmful particles. The face of the Rocky Mountains have changed, and will not be the same in my life time. The loss of the beautiful trees that make the Rockies so remarkable have changed the face of the mountains, permanently.

The positive note to all of this is that the Forestry Services tells us that the die off of all these trees will produce a more diverse vegetation, and help to protect the forest against the beetles next invasion.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

October 2009, Stats for the Woodmoor Neighborhood in Monument, CO

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Tue, 27 Oct 2009 16:43:20 -0500

October 2009, Stats for the Woodmoor neighborhood in Monument, CO,

		Active
1	621656	19410 Rim Of The World DR	4,4,2	2	1976	3,790	$250,000	179
2	608158	1465 Woodmoor DR	3,2,2	RAN	1969	2,961	$250,000	61
3	593643	17645 E Caribou DR	2,3,2	2	1984	1,960	$263,000	72
4	674433	1125 Bowstring RD	3,2,2	RAN	1994	1,833	$299,900	68
5	608457	1395 Fawnwood RD	5,3,2	2	1978	2,991	$300,000	173
6	607576	1205 South Park DR	4,3,2	BIL	1984	2,444	$313,500	53
7	655248	1230 Bowstring RD	4,3,3	RAN	2001	3,509	$316,608	70
8	696354	610 Winding Hills RD	4,3,2	2	1973	3,327	$325,000	70
9	443182	615 Harness RD	4,4,2	2	1985	3,028	$325,000	237
10	562986	1290 South Park DR	4,3,2	RRH	1992	2,379	$325,000	8
11	522286	465 Jack Boot RD	4,3,2	BIL	1986	2,897	$338,998	126
12	606484	18980 Shadowood DR	4,3,2	RAN	1965	2,874	$339,000	75
13	572466	1060 Bowstring RD	3,3,2	RAN	1998	3,976	$339,900	262
14	517766	18924 Cypress PT	6,4,3	RAN	1988	3,626	$340,000	202
15	561262	1115 South Park DR	4,3,3	RAN	1999	3,120	$345,000	143
16	528028	19930 Indian Summer LN	4,5,3	2	1983	3,288	$345,000	137
17	659700	1080 Bowstring RD	4,4,3	2	1994	3,245	$345,000	14
18	526818	1420 Catamaran LN	4,3,2	RAN	1984	2,496	$349,900	131
19	496638	510 Ore Cart WY	4,4,3	2	1994	3,962	$350,000	21
20	609558	1375 Bowstring RD	7,4,3	2	2002	3,937	$355,000	11
21	458702	760 W Caribou DR	5,4,2	2	1992	3,588	$365,000	117
22	548477	19590 Four Winds WY	4,3,3	2	1993	2,980	$369,900	98
23	454303	240 Tam O Shanter WY	4,3,2	4	1970	3,911	$369,900	181
24	467805	18421 Gregs Pond LN	4,3,3	2	1988	3,887	$375,000	94
25	651688	460 St. Moritz WY	4,3,2	2	1991	3,437	$375,000	22
26	679101	17370 Leggins WY	4,3,3	RAN	2001	3,552	$375,000	57
27	594874	19360 Furrow RD	4,3,3	BIL	1971	4,404	$389,500	408
28	533312	225 Furrow WY	6,4,3	2	1993	3,993	$395,000	126
29	428075	1395 Bowstring RD	4,3,3	2	2001	4,266	$399,900	221
30	422437	17360 Leggins WY	5,4,3	2	1994	3,450	$400,000	140
31	545582	475 Woodmoor DR	5,4,2	3	1967	3,585	$400,000	88
32	561647	57 S Sherwood Glen	4,4,3	2	1993	4,094	$406,600	299
33	582967	355 Cat Tail WY	5,4,2	2	2001	3,788	$419,900	216
34	591824	455 Indian WY	5,4,3	2	1994	4,000	$425,000	72
35	569754	30 Long Bow CR	5,5,3	RAN	1994	4,750	$435,000	113
36	581487	19470 Kings Deer LN	4,3,4	RAN	2005	3,900	$435,000	488
37	480531	18385 White Fawn DR	5,4,3	2	1993	4,602	$445,000	235
38	595037	17320 E Caribou DR	5,4,2	RRH	1987	5,933	$449,900	230
39	475759	1670 Blueberry Hills RD	5,5,3	2	1992	4,807	$475,000	259
40	518589	18460 Augusta DR	5,4,3	2	1994	4,987	$475,000	153
41	671616	18360 Sloan LN	5,4,3	RAN	2007	4,182	$475,000	385
42	482526	285 Ox Yoke WY	5,4,3	2	1996	5,098	$489,000	182
43	544397	19410 Glen Cannon WY	4,4,3	RAN	1981	6,016	$492,000	125
44	594726	18580 Augusta DR	4,4,4	RAN	1967	3,278	$499,900	127
45	683104	19570 E Top O The Moor DR	5,4,3	2	1982	6,339	$515,000	445
46	444619	1380 Lone Scout Lookout	4,4,4	2	1991	6,112	$525,000	87
47	563387	750 Bowstring RD	5,5,3	2	1993	5,599	$529,900	257
48	564558	19405 Rim Of The World DR	6,5,3	2	1994	4,921	$540,000	225
49	430320	865 Woodmoor DR	5,5,5	2	1993	5,589	$545,000	94
50	524770	19035 Merry Men CR	5,4,3	RAN	2004	3,872	$549,000	460
51	597390	725 Woodmoor DR	3,3,3	2	1998	4,424	$550,000	158
52	646422	19465 Indian Summer LN	4,4,3	2	2001	4,666	$550,000	56
53	608459	18144 Six Trees LN	4,3,3	RAN	2006	3,333	$550,000	56
54	608136	285 Peaceful Pond LN	5,4,3	2	1994	5,059	$575,000	35
55	655839	240 Bent Nail WY	7,5,3	1.5	1992	6,149	$585,000	53
56	586862	19815 Sunlight WY	5,5,3	2	1992	4,936	$644,900	154
Min					1965	1833	250000	8
Max					2007	6339	644900	488
Average					1990	3984	414484	154
Number of Properties: 56


		Under Contract
#	MLS#	Address	Br/Ba/G	FLR	YB	Tot SQ	LP	CDOM
1	562168	17720 E Caribou DR	3,2,2	4	1985	2,385	$245,000	168
2	446396	875 Flaming Tree WY	3,3,2	2	1969	2,094	$285,000	114
3	544569	19635 Four Winds WY	4,4,2	TRL	1992	3,001	$300,000	130
4	508884	1270 Bowstring RD	4,3,3	2	2007	4,031	$389,000	141
5	427538	1440 Blueberry Hills RD	3,4,3	2	1992	5,188	$425,000	161
6	656838	1240 Old Antlers WY	4,4,3	2	1996	4,016	$475,000	82
7	563171	1025 Slate WY	4,4,4	2	2008	4,740	$565,000	348
Min					1969	2094	245000	82
Max					2008	5188	565000	348
Average					1993	3636	383428	163
Number of Properties: 7


		Pending
#	MLS#	Address	Br/Ba/G	FLR	YB	Tot SQ	LP	OffMkt
1	494756	1055 South Park DR	3,2,2	TRL	1984	1,600	$259,900	8/28/2009
2	626249	17455 Paver WY	5,5,2	RAN	1977	6,218	$276,900	10/08/2009
3	619896	1180 South Park DR	4,3,3	RRH	1984	2,708	$310,000	10/10/2009
4	660569	19420 E Top O The Moor DR	4,4,2	2	1976	2,753	$325,000	9/20/2009
5	439761	19375 Glen Hollow CR	4,3,3	RAN	1982	3,483	$357,500	10/18/2009
6	490093	165 King Arthurs Knoll	4,5,3	2	1992	6,162	$467,000	4/08/2009
7	479459	18505 St. Andrews DR	4,4,3	RAN	2002	4,286	$499,000	10/12/2009
8	477969	480 Scrub Oak DR	5,5,3	RAN	2009	4,564	$695,000	10/17/2009
Min					1976	1600	259900
Max					2009	6218	695000
Average					1988	3972	398787
Number of Properties: 8


		Sold
#	MLS#	Address	Br/Ba/G	FLR	YB	Tot SQ	LP	SP
1	643781	835 Lake Woodmoor DR	4,4,2	2	1987	3,300	$340,000	$337,500
Min				1987	3300	340000	337500
Max				1987	3300	340000	337500
Average				1987	3300	340000	337500
Number of Properties: 1

Prepared by	Marianne Snygg
		(719)964-9682
		Herman Group Real Estate
		mcsnygg@msn.com
Information deemed RELIABLE but not GUARANTEED

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

The Issue with Chinese Drywall

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Tue, 27 Oct 2009 10:01:14 -0500

The Issue with Chinese Drywall

Chinese drywall was imported to the US during the peak building years of 2004 and 2007. Over 100,000 homes, in 20 states, were built with this product. The drywall contains a sulfurous product, that gives off the odor of a burning match. Over time, it turns copper pipes black, rots wiring, and plumbing, and destroys the air conditioning condenser.

The Issue with Living with Chinese Drywall
More importantly, this product is harmful to people living within those walls. Many have reported that the odor is causing headaches, and respiratory problems. Numerous people have move out of their new homes, only to have to pay for another home or apartment to live in.

The Issue with the Mortgage Lenders and Chinese Drywall
These displaced folks cannot afford rent on an apartment, and the mortgage on their new home. And, pleas for aid from the mortgage lender are being declined. The cost of replacing all the drywall in the home can reach $80,000 to $100,000. Is this the beginning of more mortgage lender problems? How many people will just walk away from their homes, leaving the industry in another downfall?

The Issue with the Courts and Chinese Drywall
As of right now, there are court cases pending to for home owners hoping to resolve this problem. Many of the new home builders are taking it upon themselves to replace the defective drywall. But many are not, and the courts will start trying those cases in January of 2010.

The Issue with Our Economy and Chinese Drywall
This issue has the potential of causing another run of foreclosures and bankruptcies. The state of Louisiana has begun using their $5 million in federal housing money to assist homeowners with replacing the offensive drywall. Senator Bill Nelson (Dem-FL) is introducing a bill to provide the same type of assistance for Florida residents.

Where will this go? How will we deal with this large problem on top of our small recovery of the last year? Are you seeing the effects of Chinese drywall in your market?

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday - Happy Halloween

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 25 Oct 2009 19:51:47 -0500

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 18 Oct 2009 14:05:51 -0500

Speechless Sunday

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Understanding the Bidding War with a REO

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Fri, 16 Oct 2009 10:54:24 -0500

Understanding the Bidding War with a REO

The recent experience of a bidding war with a bank owned property (REO) has brought to my attention the fact that as much as we write about short sales, forecloures, and bank owned properties, we're just not getting the word out to our clients.

With that in mind, here are some important facts that we need to know; that we need to pass along to our buyers; that the general public needs to know prior to becoming involved with a REO purchase.

Writng an offer on a property with your Realtor(r) does not constitute a contract! You must have signatures from both the seller and the buyer on the contract for it to be binding.
A verbal counter offer is excellent to have, but not binding. It must be followed up with that all important contract, signed by both parties.
Very Important: Until the bank returns your offer with their counter, and they will always counter using their documents, you are not under contract, and
They have the right to accept any other offer that is submitted

And this is how the bidding war begins. The bank is now holding two offers, that are just about identical, which is just a coincidence, we hope. They can't decide which one to accept, so they issue a "Highest and Best" request.

"Highest and Best" request is a one-time shot for you to obtain this property. So, give it your best offer. Here's what you need to do:

Clean up your offer by
b. Removing all seller concessions
c. Tightening up your closing date
d. Changing your finanacing to conventional, (it's easier to fund)
e. And bringing your very best monetary offer
Then, wait to hear back from the bank

If you have done everything in your power to make your bid your "Highest and Best," you might just get the home! However, if your offer was beaten by another, it's sad to say, but your desire for the home just wasn't as great as the desire of the other party.

Here's cute little video about the bank owned purchase process...

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

In Memoriam - Junko Brackin

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Mon, 12 Oct 2009 13:51:30 -0500

In Memoriam - Junko Brackin

My Dear Friend...you will be missed.

Biography

Junko Kawada Brackin
Jan. 19, 1949 - Oct. 6, 2009

Junko Kawada Brackin was born on January 19, 1949 in Tokyo, Japan to Koichi and Sachi Kawada. Junko married André P. Brackin in November of 1986 in Coronado, California. Junko also was a devoted mother and treasured by her son John P. Witkowski, daughter Ann Witkowski, grandson Leopold Singh, and her extended
family in Virginia.

Junko was a talented potter and bamboo basket maker, and was happiest when making art. Junko loved the natural world and could turn the simplest things she found into her art. She participated in many organizations including
Colorado Basketry Guild, The Clay Center Studio, Commonwheel Artist's Cooperative, the Colorado Springs Pottery Co-Op, and enjoyed taking classes at the Colorado Springs Senior Center. Junko loved animals, and enjoyed raising her
chickens and cows at her home in Calhan, Colorado with Andre.

Junko was preceded in death by her mother, Sachi. In addition to her husband, children, and grandchild in the U.S., she is survived in Japan by Koichi Kawada (father), Hideharu Kawada (brother), Daisuke Kawada (brother), and Kumi Kawada
(sister).

Junko was a unique individual, with a kind and gentle soul. She will be missed greatly by all who knew her.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday - Moon Over Lake Granby

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sun, 11 Oct 2009 22:28:48 -0500

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Speechless Sunday - Where would you like to be?

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sat, 03 Oct 2009 21:38:13 -0500

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Do You Need to Live Near a Base in Colorado Springs?

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sat, 03 Oct 2009 14:09:59 -0500

Do You Need to Live Near a Base in Colorado Springs?

Are you military? Or contractor? And need to live near one of our bases in Colorado Springs? There are several cities and neighborhoods closeby that are very nices area to live in. Here's some data to help you determind what area would be suit your needs.

The City of Fountain

√ It was designated Millinnium City and 2002 All American City
√ It's the furthest south in our greater metropolian area, and has the mildest climate in our region
√ Travel to Ft. Carson, and Peterson AFB is 10 miles, and total commute time is about 15 minutes. Schriever AFB is 16 miles, and 33 minutes drive time. (Add more time for incliment weather.)
√ The school district is Fountain District 8

The City of Widefield

√ The city is 5 miles north of Fountain, and 10 miles south of Colorado Springs. It's 14 miles, and 29 minutes to Schriever AFB. Ft. Carson and Peterson AFB is 5 miles and 6 minutes commute away
√ The city's school district is Widefield District 3

The City of Security

√ The city is located about 5 miles south of Colorado Springs, and 4 miles away with a 6 minute drive to Ft. Carson and Peterson AFB. Schriever AFB is 20 miles away and a 30 minute drive.
√ The city's school district is Widefield District 3

The Neighborhood of Stratmoor Hills

√ Stratmoor Hills lies in the Colorado Spring City Limits. It's in the southwest area of the city, and very close to Ft. Carson, with approx. a 5 minute commute. And 10 minutes to Peterson AFB. Schriever AFB is approx. another 15 minutes beyond.
√ Harrison School District 2 is the local school district.

The Neighborhood of Cimarron Hills

√ Cimarron Hills is in the southeast area of Colorado Springs. The commute to Peterson AFB is just minutes, and Ft. Carson is about 15 minutes. Cimarron Hills is the closest neighborhood to Schreiver AFB, with a commute time of 10.
√ Colorado Springs School District 11 serves this neighborhood.

These are well developed areas, and each with neighborhoods. Shopping centers, gas stations, convenience and grocery stores are readily accessible. Schools and city services are readily available and Colorado Springs has one of the finest libraries in the country; rated in the top 10.

Here's data showing all currenly actives homes on the market. Also, shown are sold homes for this year and sold homes for last year. Homes in these areas sell for approx. 97% of list price.

City	Actives	Price Low	Price High	Sales 2008	Price Low	Price High	Sales 2009	Price Low	Price High
Fountain	442	54,900	365,000	1,110	25,000	534,000	998	42,000	429,000
Security	37	76,000	170,000	74	25,000	167,000	88	26,000	253,000
Widefield	8	114,500	194,500	47	80,000	218,000	25	76,500	177,000
Stratmoor Hills	34	29,000	2,500,000	68	20,000	275,000	61	49,000	266,700
Cimmeron Hills	27	49,600	184,000	78	36,000	235,000	70	108,000	217,500

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Monument, CO - Ten Great Things to Do In and Around Monument, CO, Part 10

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Fri, 02 Oct 2009 11:38:10 -0500

Monument, CO - Ten Great Things to Do In and Around Monument, CO, Part 10

Manitou Springs sits at the foot of Pikes Peak, and is about 25 miles southwest of Monument, CO. It's also about 3 miles north of Garden of the Gods. There are several Bed & Breakfast, RV Parks, and hotel and motel accommodations. To get there, see below for directions.

Manitou Springs was so named because of the eleven springs located throughout the little town. Because of these wonderful springs, feed by the snow from Pikes Peak, Manitou has been considered sacred by the original inhabitants, the Ute and Cheyenne peoples.

The Manitou Springs, Garden of the Gods, and Pikes Peak area attracts many visitors each year, due to the absolute funkiness of the community. The main street downtown offers numerous restaurants, eclectic shops, art galleries, and souvenir shops.

The town sponsors a variety of events that are a lot of fun. My personal favorite is the, Annual Clayfest and Mud Ball. Or simply, the Clayfest. It's been going on for the last 15 years. The locals call it the "Potter Games." Amateur and professional potter's gather together to share new techniques, socialize, teach, and show off their skills. There's nothing you can buy, you can only watch. Pottery wheel lesions are usually offered for a nominal fee.

Another fun event is the Manitou Springs Great Fruitcake Toss. The annual toss has become quite a draw! It usually happens the first Saturday in January. And it's the perfect answer to what to do with that fruitcake you received over the holidays. This year was the 14th celebration. This year was attended by over 1,000 people using everything from cannons to slingshots. And if you didn't receive a fruitcake this year, you can buy a very moldy old one that you can toss yourself!

Coming soon are the Emma Crawford Coffin Races. This year the event will be on October 24, 2009. The object of the races is to see what team can get the coffin with Emma in it across the finish line first. Each team must provide their own coffin, and their own Emma! All Emma's must wear a helmet. Also part of the festival is the parade. Emma's wake is Thursday night, the parade begins Saturday at noon, and the races at 1:00 pm. A good time is had by all!

Some of the other wild and crazy events in Manitou are: The Pikes Peak International Auto Hill Climb; the Pikes Peak Ascent; the Pikes Peak Challenge; the Annual Barr Trail Mountain Race; Mumbo Jumbo Gumbo Cook-off and Carnivale Parade; Huck Finn Day; Old Time Ice Cream Social; Commonwheel Co-Op Arts and Crafts Festival; Breakfast with Santa; and more! Tons of things to do in Manitou Springs.

If you are planning to be in Monument, CO, for any particular reason, or plan to purchase one of the beautiful homes in the area, you simply must make plans to visit Manitou Springs, one of the more unusual towns in all of Colorado.

View Larger Map

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

I Need Your Help. Your Reward? Great Blogs With Great Info. REBlogworld/Blogworld Expo In Las Vegas!

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Mon, 28 Sep 2009 21:10:12 -0500

This is a re-post from Matt Stigliano. He's looking for our help. Let's get Matt to Vegas...so we can hear about it when he returns.

Via Matt Stigliano (RE/MAX Access):

photo courtesy of nodomain1

I love blogging.

You may have noticed before, but it's a fact, I love to blog about real estate. It's good for my business, but I actually find it enjoyable too. In that vein, I would like to make it to this year's Blogworld and New Media Expo (including REBlogworld). Of course, these things cost money and there are expenses...blah blah blah. However, Alltop is sponsoring a contest to allow 3 lucky winners to attend this year's event.

I entered, but I need your help. First of all, I misread a rule, which has seriously put me behind the curve. I thought I was doing okay, but realized that the rule was rather specific and I needed to get moving - so I turn to you, the ActiveRain community for help.

The grand prize for the contest is entrance to the conference as well as hotel accommodations. With those two paid for, I can deal with the flights and food for the three days. I need to win this. Imagine how many blogs I'll churn out when I get back with all the new info I've acquired. Think of me as your Blogworld corespondent. I will report back to you - all you have to do is get me to the top! I don't know what it will take to get me there (I don't even know who's in the lead), but with the power of the ActiveRain and Twitter community, I'm willing to bet (Las Vegas - get it?) that I can win this!

Imagine how this will benefit the ActiveRain community as well! Having the power of 160K+ members pushing to help me accomplish this goal will certainly make people think that ActiveRain is the place to be.

Here's what I need:

First, reblog this post if you can. By spreading the word, there will be more opportunity for more people to act upon it. Put it in every category you can think of and make sure everyone of ActiveRain's members see it! I could care less about the points gained from the reblogs, so ActiveRain can pull the points - this is about getting me to Blogworld and REBlogworld.

Second, you need to retweet the information necessary in order for me to be counted. Visit MyAlltop page and at the bottom you will see a "retweet" button:

Click the retweet button. Click it whenever you have a few free seconds. Tell your friends to click it. Please don't sit there and click it 100 times in a row. I don't want to get the boot for "stuffing the ballot box." The contest ends at 8:00 am Pacific Time on October 1, 2009, so I need your clicks up until then. Let's get as many as we can and show everyone the power of ActiveRain, get me to Vegas, and let me bring back and share all that I have learned!

Please use the retweet button and have everyone you know retweet it too! This would be huge for me and I appreciate all the help I can get!
All content ©2008-2009 by Matt Stigliano, Realtor® unless otherwise noted.

Matt Stigliano, Realtor®

RE/MAX Access

(210) 646-HOME

www.RErockstar.com

"Your all access pass to San Antonio real estate."

Connect with me on Twitter and Facebook.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Wordless Wednesdays

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Wed, 23 Sep 2009 20:12:58 -0500

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Monument, CO - Ten Great Things to Do In and Around Monument, CO, Part 9

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Mon, 21 Sep 2009 21:21:12 -0500

Monument, CO - Ten Great Things to Do In and Around Monument, CO, Part 9

American Numismatic Association Museum
818 North Cascade Avenue
Colorado Springs, CO 80903-3279

One of the American Numismatic Association Museum is located in downtown Colorado Springs. Downtown Colorado Springs is approximately 16 miles south of Monument, CO. It's an easy ride on Interstate 25. They are open 9:00 to 5:00 most days, and closed on Monday.

They house over 250,000 money related objects. Some are very old coins from the Roman period, many from other countries, and most interestingly are the coin mistakes. They have a collection of coins that were misprinted. Both coins and paper money. These mistakes are very pricey now. And oh so fun to see. Other valuable collections include a 1804 silver dollar, a 1913 Libery nickel, and an 1866 no motto series coin.

The museum isn't very big, it'll take about 2 hours to go thru. But, kids love it as much as adults.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Monument, CO - Ten Great Things to do In and Around Monument, Part 8

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Mon, 21 Sep 2009 20:56:40 -0500

Monument, CO - Ten Great Things to do in and Around Monument, Part 8

Castlewood Canyon

One of Colorado's State Parks is Castlewood Canyon. It's located just south of Franktown on Highway 83. And approximately 30 miles north of Monument, CO. Highway 83 out of Monument is a pleasant trip thru high plains pastures and rock formations with great Colorado scenery all the way.

The park has some many walking trails. It also offers, hiking, rock climbing, horseback riding, wildlife viewing and tons of places to take that perfect photograph.

The park is open everyday of the week, from 8:00 am to 8:00 pm. Daily park pass is $6.00.

Oh, and don't forget the picnic basket!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

Monument, CO - 10 Great Things to Do, Part 7

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Mon, 21 Sep 2009 19:56:59 -0500

Monument, CO - 10 Great Things to Do, Part 7 of 10

The Florissant Fossil Beds

15807 County Road 1
Florissant, CO 80816
(719) 748-3253

Florissant is a little community up in the Colorado Rocky Mountains, just due west of Colorado Springs and Monument, CO. The ride up there, on Colorado Highway 24, goes thru beautiful Ute pass, from Manitou Springs to Woodland Park. (Woodland Park is a post all on it's own!) It will probably take you about an hour to get there from Monument.

But, Florissant is a little bit farther on Highway 24. The town is very small and has no signal and no stop signs on the highway. To get to the fossil beds, you'll need to turn off the highway onto Teller County Route 1. It's paved nicely, not a typical county road. It's about 2 miles after that.

Florissant Fossil Beds National Park specializes in fossils caught in volcanic ash, both insect and plant material. The insect are fascinating! This photo is of a Damselfly. They also have Tse Tse Fly, Mayfly, Grasshopper, Cockroach, Termite, and more.

There are also petrified redwood trees! Redwood trees don't grow in Colorado. They need tons of moisture and now mostly grow in the Pacific Northwest. However, centuries ago, the climate here was like the Pacific Northwest, which allowed the trees to flourish. That is until the volcanic erruption occurred and stopped their growth.

Besides all this education on fossils, they have beautiful walking trails. Some of the trails will take you by the petrified trees. But even the trails that don't are a great outting in nature's beauty.

Take the time to see our local National Park. The whole family will enjoy itself.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate

University Park, Actives and Solds

Marianne Snygg, ABR, ASP, GRI (Herman Group Real Estate) — Sat, 29 Aug 2009 19:09:56 -0500

University Park, Actives and Solds

University Park is a beautiful neighborhood tucked away in a small community on one of the numerous hills in Colorado Springs. It sits on the north end of Colorado Springs. It has an average elevation of 6,639 feet above sea level. And there is a bustling business district less than a mile away, including a very active, full service YMCA, at the bottom of the hill. Schools servicing that area are the prestigous Colorado Springs District 11 schools.

University Park is a master planned community, started in 1998 and completed in 2009. The homes in this neighborhood start at around $400,000 and go up to over $1,000,000. The economic downturn has not caused a lot of foreclosures in this neighborhood, however there are a lot of homes on the market.

Active listings last month provided the neighborhood with over 2 years of inventory. Currently, there are 25 active single family listings at this time. Sold listings for this year totale 9 homes. At this rate there is still approximately 24 months of inventory. Sold prices are $350,000 on the low end and $675,000 at the top end.

While the market is improving, most active sales are in homes under $200,000. The $200,000 to $300,00 is seeing some improvement, but the upper end of the market is as slow as it was in 2008.

University Park is one of Colorado Springs' most fabulous neighborhoods. And in time, we'll see a recovery to a more balance market, even in this higher end area.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
Herman Group Real Estate

Colorado Springs and Monument Real Estate