Easy Steps for Wildfire Protection

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The two most critical aspects of wildfire protection deal with the home and property’s structure as well as the vegetation that surrounds it. When building a home, choosing fire-resistant roofing materials is vital. Flammable materials such as wood shingles or siding should never be used. Similarly the choice of vegetation is also critical. Plants and shrubbery can also be classified in terms of flammability and if possible, alternative forms of landscaping products may best serve homes in wildfire prone areas.

The key things to keep in mind and adjust if necessary when building a solid plan against wildfires are as follows:

Location and Access to Your Home

Since many of the homes subject to the harsh conditions are also located in remote areas – it is very important to ensure that firefighters can not only locate your property but also safely access your home. Check that all street signs and home addresses are clearly demarcated. If possible, establish an exit plan to accommodate incoming firefighters while you and your family have an alternate exit route.

Emergency Water Supply

Check with your neighborhood and confirm the existence of additional water supply in case of any dire circumstances.  A fire hose is simply not enough in most cases of wildfires so many communities are expected to establish a municipal water system with large storage systems sufficient for firefighters’ needs.

Well-Maintained Defensible Space

Wildfire zones have laws that require a certain amount of area around the perimeter of the home that must be maintained as defensible space. Either manmade or natural, this area around the home entails vegetation that is carefully erected to serve as a first-defense against wildfires. Typical vegetation for these areas serve the purpose of slowing the rate and intensity of fires as they advance in the direction of the home. The Colorado State Forest Service issues defensible space guidelines that should be carefully followed by homeowners. Essentially, it is critical to trim, clean and maintain appropriate vegetation in the home’s defensible space.

Safety Systems Inside the Home

For the interior of the home, installation of smoke detectors, residential sprinklers and portable fire extinguishers is a must. Unlike non-wildfire prone areas, homes that are more susceptible to wildfires should follow additional guidelines with more than the typical number of installations per square feet of a home. Also work to remove any fire hazards within the home such as electrical faults, alternate sources of heat or excess flammable materials.

Fire Escape Plan

As with any household, the presence of a well thought-out, viable and workable plan for escape must be established. Every member of the household should be taught various routes for escape as well as the STOP-DROP-ROLL method of escaping a home infiltrated with smoke or fire.

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For more information, here is a great resource on more fire safety measures homeowners can take when residing in a wildfire-prone area.

Has the Real Estate Market Hit Bottom?

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Everyone wants to know! Home buyers want to know so that they can buy their home at the lowest possible price. Home sellers want to know so that they can time the listing of their home with an increase in price. Has the market hit bottom?

Yes, it did. As prophesied by national real estate instructor, David Knox, we have discovered the bottom of the market, after it passed; after the market began it's upward trend. So, don't wait for the market to hit bottom in Colorado Springs, Colorado. It already bottomed.

The Pikes Peak Association of REALTORS reports that July sales were up 21.9% from July, last year, and the median price was up 6.6%. These are very strong numbers. The inventory of unsold homes continues to be very low, down 18.8% and less than a 4 month supply at the July sales rate. Last year this time, we had a 6-month supply of homes to sell. Building permits are up 39.9%, as more buyers choose new construction to compensate for fewer homes on the market.

Buyers are also motivated toward new homes because Builders saw the handwriting on the wall and reacted proactively to the economy's changes. A number of builders are scrambling to offer large reductions in pricing, new upscale stainless steel appliance packages, gourmet kitchens, and free finished basements. With the drain on buyer's savings accounts, they often are short in the funds required for closing. Builders have acknowledge that and often pay most or all of the buyer's loan closing costs.

The efforts of builders are paying off in spades. One large local builder exceeded their first quarter goals by the second week in February. One patio home neighborhood constructed by this builder has surpassed the target for closed sales in that community for the entire year by 33%! Another mid-level builder has closed over 50 homes since January 1st in one community here in the Springs. Their yearly average for the entire company in multiple neighborhoods has been less than 100 homes each year in the last three years.

The percentage of homes disclosed as distressed was 13.1%, or 128 homes. This compares with 17.4% of sales in July of 2011, a significant improvement.

Colorado Springs home buyers are continuing to take advantage of low interest rates, which have been consistently in the mid 3′s. Low long term mortgage rates and higher rent prices are making the decision to buy rather than rent MUCH more attractive at this time.

Would you like to know what your home is worth in today's economy? Would you like to have a free market analysis of your home's value? Now is the time to get ready to cash in your chips, before the rates climb again. With all-time lows of mid-to-low 3's in the loan rates, we have an unprecedented opportunity to take a short cut to value. Historically, interest rates remain low before the Presidential election. The Spring following the Presidential election typically heralds an increase in mortgage interest rates as the president scrambles to reduce the Federal deficit by relaxing the artificially lowered rates. If you are thinking about buying a home, let's talk about your ideas so that I can coach you to the best possible opportunity. Call me soon to have that chat.

“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 7/31/12 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2012 REALTOR® Services Corp. Questions about this analysis should be directed to John Wayne Holdren, CRS, RE/MAX Properties, Inc, 1740 Chapel Hills Dr, Colorado Springs, CO 80920 Phone: 719-347-1010

What Determines the Value of Your Home?

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Basically, a home's worth is determined by its market value. How is "market value" determined? Most often, it's figured by a comparison ("comp") with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it's likely that the value of your property will fall in the same range. But market value is also determined by a number of factors including the following: 

External Factors 

There can be several external factors influencing the value of your home. One is "curb appeal", or the first impression your property makes upon prospective buyers. A home that's in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc. 

Internal Factors  

The condition of a home's interior also has a huge influence on prospective buyers. When you've demonstrated "pride of ownership" and kept up the maintenance (quality paint, trim, molding, etc.), a buyer's interest will immediately perk up for the simple reason that they know your care and concern will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc. 

Supply and Demand 

"Supply and demand" simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. In effect, supply and demand affects how quickly your home will sell. Location More than likely, you already know the old saying, "There are three main factors in real estate - location, location, location." While that's not the whole story, desirability is a big factor for home buyers. They may want to live in particular school district known for its education excellence…a great and safe neighborhood with rising property values…etc. 

But I Know My Home Is More Valuable Than a Lot of Comparable Homes in My Neighborhood  

Aren't Allowances Made for This? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties. 

Where Do I Find Sales Comparison Information? 

The easiest source to access is your Realtor. After all, it's his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home's value in comparison to others in your neighborhood. Here's an overview of them:

1. ) The Local Assessor's Office  

It's very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service. 

2.) Online Private Companies  

You can search for these companies using the Google search engine and the keywords "comparable home sales" or "comparable sales." Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google "real estate database" and type in the name of your particular state to get additional property information. 

3.) Your Local Newspaper  

It's likely that your local newspaper is a great source of specific real estate information. Look for quarterly sales reports in the real estate or business sections.

The Key to Getting the Price You Want (or Close To It) for Your Home 

The key to getting the best value is finding and matching the right buyer to your home. And that's the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out "lookers" and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me today!