Colorado Springs Real Estate Facts & Fun

There is an exciting new business in Colorado Springs, 409 N. Tejon, Suite 106, to be exact. Epicentral Coworking has finished their build out and is open for business with members already signed up. 

Just what is Epicentral?  It is a coworking facility designed for anyone who is looking for a place to work (temporary or long term) that is also community oriented.  Coworking might be a great fit for your contacts who are freelancers, consultants, contract workings, telecommuters, entrepreneurs, independent professionals, creatives, people who work from home, people who need to leave work in order to get work done, and insomniacs because members can use it anytime.

Specificallly this facility was designed to be a low-cost downtown office space for people to use when needed and be able to connect with, network or just be around other people. For more information check Epicentrals website and Facebook page.

Who are these people of means who are considering or currently doing these real estate deals? It’s not just the mega-wealthy (which by the way is how they likely became mega-wealthy), but it could be your next door neighbor, or even a college student. A college student?! Is your face burning red? How can a college student be a savvy real estate investor? Don’t they have crazy student loans to pay off?

College student housing is for the most part, below most adult standards. Drafty, inefficent windows, worn carpet, worn wood floors, crackling ceilings, and tiny rooms are common in off campus housing. A tiny kitchen with dated appliances and a what-is-growing-in-there bathroom may come with the deal. What’s the kicker here? The landlords charge a stiff price on a property that is likely paid off 20 + years ago when they bought it, and have no interest in making updates. So what are savvy real estate investors doing? They’re heading to the top 100 college towns and buying up these crummy houses to rent out to college students. The truly savvy investors are cleaning up the properties to lure better tennants, and thereby protect their investments. The college students who grew up with money savvy parents recognize a bargain and a real opportunity when they see one and can find money to get into off-campus housing with specific loans geared towards students. All they need is parental consent, good credit (them or the parents), be a student, and a much smaller down payment than the average home mortgage. Call your local mortgage broker for more information on this program and to talk details. They can best guide you through this process and make sure all the i’s are dotted and t’s crossed.

Off campus housing 10 years ago at a small school cost about $400 a month plus utilities. Sounds like a screaming deal now doesn’t it? Off campus housing at a top 100 college town cost about $900-1500 a month plus utilities. It makes sense for parents or students to want to own property near campus. For one, the student can rent it out to roommates and the mates will pay his share of the mortgage/total rent. Secondly, the student understands it is part of an investment for them, so respecting the property, keeping it clean, and taking care of any issues in a timely manner will make them even more invested in the property. The pride that comes with home ownership lacks a good word, you simply feel it. Parents can also take a chance and get a second property (again, going back to Part 2 about rental properties), and rent out the house to their child(ren) and roommates, saving the expense of room rates if the student were living on campus and the parents paying the way. At the end of the student’s tenure, as owners may decide to sell the property, or hold on to it for future students continuing to grow their wealth through the property.

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This past weekend (Labor Day) is the annual Colorado Springs Balloon Classic.   This is a terrific event for kids, families and the overall community.  With so much negative news it was a pleasure to be able to focus on something that brings joy to so many people.

This year was different for me becuase I was a crew member for a balloon pilot.  What I discovered is that a pilot of a hot air balloon is very similar to being a Real Estate Broker working a contract.  We are dependent on many people doing their jobs  and yet good agents, like pilots, are prepared to do everyone's job if needed.  The ease of the transaction (or balloon flight) is dependent on how all the different jobs are performed.  Being a chaser is fun because you have to be prepared to "chase" the balloon and plan for following it on roads you know about as it travels across town.   After landing, the balloon is packed back up by the pilot and chase crew and champagn is served to celebrate a successful flight.  

Saturday night is the first night of "Balloon Glows".  This is where balloons are aired up and ready for flight but tethered to a truck or structure to keep them on the ground.  As the crowd counts down to one and together yells, "Glow" all the pilots ignite their propane gas and "light up" their balloon.  This particular night we had winds and gusts of up to 12 - 15 miles per hour.  That may not seem like much but put a 10 story balloon in the air and you quickly discover the power of wind and also the power of a 10 story balloon.  Over and above all of that add the crowds walking around (in the dark) and trying to appropriately ask people to please not step on the balloon or the ropes as it is going up or going down (reminded me a lot of friends/family remembers of a buyer or seller with their input.  It can be hazardous to everyone involved whether it is a balloon classic or buying/selling real estate.

In real estate, we have a simiilar experience with both the buyers and sellers doing their parts; the listing and selling agents doing their jobs, the inspector doing his/her job, the appraiser doing their job and the lender and title companies doing their jobs.  There can be more people involved but this is probalby the best representative of a "standard experience".  If one of these people were to be like the balloons and the ropes, the balloon itself, the basket, the propane tanks, igniter switches or  the wind, the entire transaction can be hampered by this.

As we all know successful closings require an open mind, diligengent follow-up and communication by all parties.  Its not that something won't come up but more about how to deal with it when it does.  Are you going to be someone who drops a rope for a balloon pilot or the pilot who navigates the balloon and the crew as the wind gust happens.

For this week, this month and the rest of this year, my wish for all of you is the peaceful calm of a balloon ride in all of your business dealings and real estate transactions.

There is something magical and charming about Pizzeria Rustica in Old Colorado City that has me coming back time and again. It could be walking through the door and feeling transported to a pizza shop in Italy.

It could be the amazingly fresh ingredients. It could be the made-in-house mozzarella, the stunningly beautiful antipasti dishes. It could sipping red wine while sitting on the outdoor patio feeling like I should be hearing the sound of the Mediterranean lapping at the shoreline. It’s a great place to go for a light dinner that will leave you feeling satisified but not overly stuffed, unless you also splurged on dessert. The lightness of the pizza, the fresh ingredients, and the love you can taste baked into your pie is an amazing and powerful combination.

As the weather starts to cool and the toursits find their way back home, this is a great place to visit for lunch or dinner. Hours are 12-9pm Tuesday-Sunday. For a complete menu visit: Pizzeria Rustica, Old Colorado City

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This week I went to the Colorado State Fair in Pueblo for the first time.  I was there for the Cowboys for Cancer Rodeo benefit.  It was incredibly meaningful and full of cowboy hats & swagger as one would expect. It was my first Colorado Rodeo so I am excited to now be able to say, "it's not my first rodeo" in the future.  The Colorado State Fair is full of rides, food, events, music/entertainment and fun for the entire family.

Today I happened to be sent an email about a blog written by a Mom.  It reminded me that September is Childhood Cancer Awareness Month and also of the very sobering fact that there are kids who are living with cancer and its treatment every day.  The blog highlights their story and also what we, as individuals can do to help kids & families who are living with cancer.

Take a moment and read the blog as well as help to spread the message by reposting or forwarding to all your contacts.

The gift of health & being alive is so easy to take for granted.

For those of you busy working on the ranch, you may have missed that ranching and farming have made it big time on the Food Network. Ree Drumond was a vegetarian when she fell in love with and married her husband a cattle rancher. She moved from the big city to the family’s ranch where she learned to love beef and found herself lost for a year.  She pulled herself by her boot straps and learned to entertain herself through a blog. Not just any blog, but a food blog. She wrote out recipes, took pictures along the way and became one of the top bloggers for three years in a row. The Food Network scooped her up and now she has her very own charming TV cooking show. The first show was on Saturday, and before the first show, she was on with Paula Dean.

What makes this Pioneer Woman so special is she is charming, at times self-depricating, and talks like the rest of us. She admits on one of her recent blog posts about having a double chin, but she doesn’t care. She takes pictures and has a little photography business associated with the Pioneer Woman business. No doubt we’ll see a cookbook by her out in time for Christmas. She’s essentially the next Rachael Ray, only from the ranch. She makes good down-home cooking, with fresh produce and meats, but also simple dishes. Not so simple you say, it’s missing something, but simple as in the way our grandparents used to cook without bechemal sauces, reductions, and sprinkles of “this”.

She keeps up with her blog that has made her famous, and it is as charming as she is. The pictures are wonderful too. Visit www.thepioneerwoman.com to read her recipes, get to know her, and for show times. If you’re busy at your own ranch, get yourself a DVR to watch later. You won’t want to miss this.

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Today I learned about the Colonial Period Style. You can see it in many newly constructed homes. First built in the 1600s, the broad street-facing facade, draws its inspiration from Dutch, French, and Spanish Colonial influences, as well as Adam and Georgian architecture (more on these later).

Pictured here is an example of a Dutch-inspired Colonial with double-hung windows with a centered door highlighted by a pediment above.

This particular example shows an updated and modern twist accenting the front door with a warm wood color, a light mauve-moss color and clean white trim details. Sometimes refered to as a ”barn-house” the angles are reminiscent of Dutch homes.

A Georgian-inspired Colonial here is flanked by columns, with nine or 12 small panes per sash,

louvered shutters, and a centered door highlighted by a pediment above, this sometimes called “salt-box home” Colonial is due to their resemblance of early American salt containers. Prominently rectangular with a symmetrical facade.

Both examples show trim is minimal, and the clapboard siding is usually painted white or another light color. More formal homes, which take their lead from Georgian architecture, are clad with brick or stucco and feature elaborate detailing, such as window trim, cornices, and pediments.

Dutch-inspired Colonials can be prominently found around Manitou Springs, where as a French and Spanish inspired Colonial can be prominently found around the Broadmoor. These Colonials have become synonmous with Patriotism, as the white columns resemble those of the White House, and the famed homes of our early American Presidents.

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Life in real estate can deifnitely have its ups and downs.  Depending on our own personality styles and history we all deal with it in different ways.  I have found that when I throw fear into the mix (fear of success, fear of failure, fear of income or lack thereof) it can definitely "be fuel for the fire'.  

Today I read an incredible story in Pikes Peak Parent, a local publication that is dedicated to families in the Pikes Peak Region.  Not only will this touch your heart but also remind us of the goodness in life and how it can come about so unexpectedly.  So whatever is going on for you today here is a boost to give your heart a smile, a sense of hope or just a feeling of gratitude.

The Story of Me and My Daughter Catherine

High whitewater season typically runs in late May throughout June, and with the late snow, the season seemed to extend itself this year. Whitewater rafting is incredibly fun no matter when you go, and quite refreshing when the spray splashes on your face.

There are several outfitters in Canon City, CO who will go through safety items, teach you how to raft (a guide goes out with you as well), provide you with helmets and safety vests, and for a small fee (and recommended in the high season) jackets. Many outfitters have two trips a day, one in the morning another in the afternoon, and for those feeling the rush can do a double-dip for a discounted rate. The company transports the boats, gear and the group to the trail head, and picks you up and the end of the run.

Along the way you will learn about the natural history of the Royal Gorge, see plant and animal life, and even get your pictures taken along the way. Remember to smile cheese in the big rapids! The pictures are available for sale when you return to the shop to return your gear. For those taking advantage of the double-dip will have a chance to grab a bite to eat before heading back out on the waters.

Some of the outfitters in the area include:
River Runners 
Royal Gorge Rafting 
Lost Paddle Raftin
Raft Masters

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One of the best kept secrets, until now, is a moderate hike of 2 miles near Glen Eyrie sometimes called “The Punchbowls” sometimes called, “Queen’s Canyon”. To get here you must pre-register with Glen Eyrie. For preservation purposes they only allow a certain number of people in per day. During high season, this can prove to be tricky with larger hiking groups.

The first half mile is pretty easy as it is a wooden walkway often making yourself question, “How did they build this?” Then comes the real fun and sometimes challenge of the hike. You will cross over the creek countless times (one site counts out 20-30 times) it feels like 50. Plan accordingly with your pack, shoes and bring extra socks for the hike out. After crossing the creek, you will shimmy up a rock path/boulders only to be rewarded by a majestic waterfall called Dawson Falls. At somepoint on the bouldering effort you will ask yourself if this is worth all the hype. After seeing the waterfalls, you’ll think yes, but you said there would be punchbowls and swimming, so let’s continue on our journey.

This is the steepest part of the trail, but the punchbowls aren’t much farther up the trail from the waterfall. When you arrive there is not a great place to change into a swimsuit, so a personal recommendation is to have a friend willing to hold up a towel for you or come with your suit on. The five granite punchbowls run with fresh mountain water perfect for cooling off after your hike up. There are a few natural “slides” going from two different pools into one another, both fun to ride. I will warn, when looking up at the punchbowls, there is a large flatish area to the left that looks ideal for laying on and people watching. It can be very slick, and even if you had no intention of going into the water, you may find yourself there with glasses, iPod, digital camera or iPhone. I’ve seen it all end up in the drink.

What we loved most about this hike was the reward of fresh mountain water at the top. Perfect after a hot afternoon of hiking. The entire trip up, swim, and down took about three hours.

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