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Welcome to the August 2012 issue of KimKproperties Real Estate Newsletter.
For more information within each topic please click on the underlined links.
Colorado Springs Area
July 2012 Market Activity Snapshot
July 2012 Pikes Peak Region Local Market Statistics
Historical/YTD July 2012 single family charts and trends graph. Inventory is slowly creeping up since the beginning of the year; average days on market remains below 90 days, and total home sales YTD July is significantly higher than 2011.
July 2012 Single Family Sales Activity by Colorado Springs Areas
Median sales price in El Paso County: $215,000. Chart depicts areas within El Paso County and their July market activity: # of active/sold listing, days on market (DOM), median sales price, and sales price to list percentage.
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New Series: Estate Planning
What is Probate? General Colorado Probate Types
Probate is the legal process that is used to transfer title of assets from the decedent to his or her devisees (recipients named in the will) or heirs (recipients named by law). All wills and intestate estates must be probated, but the degrees of court involvement and complexity range from simple and inexpensive to complicated and costly.
In Colorado there are three types of probates. if there is a will the probate is referred to as testate estates-or if there is no will, it is referred to as intestate estates.
1. Small estates (under $50,000 and no real property): Your devisees or heirs may collect your assets by using an affidavit and not have to open a probate action through the court.
2. Uncontested estates (informal): The informal process is generally allowed when there is a valid will or clear intestacy, no contests are expected, and there is a qualified personal representative ready to be appointed.
3.Contested estates and invalid or questionable wills ("formal"): A formal probate may be required for several reasons, including when a will is contested, unclear, invalid, or when there are apparent or actual significant challenges (i.e., identifying heirs, property title disputes) in administration.
Both informal and formal probates must be open with the court for at least six months, but full administration of the estate may take much longer.
*www.cobar.org
Next Month: The Process of Colorado Probate
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Featured New Listing of the Month
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High-Tech Homes - Is it for you?
Convenient, green, cost-savings, cutting edge...a few reasons why some homeowners are getting on-board with technology. Below are various on-the-market products and work in progress products that may suit your needs and your home!
Kitchen: Faucets with built-in lighting. LEDs indicate whether water is hot or cold; or simply white light that illuminates the water.
Lighting: Floor plan master lightswitch can show you what lights you are turning on and off.
Bathroom: Bathroom fan with motion sensors, humidity sensors, a delay timer and a night light.
Exterior: Residential roofing shingles that double as solar panels.
Security: Windows that let you know if they're locked. Wireless sensors embedded in window and doors. Controlled via central panel or smart phone/tablet.
*Houselogic
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Featured August
Local Events
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Pikes Peak Hill Climb Fan Festival! FREE! When: Friday, August 10th; 4PM-10PM. Where: Downtown Colorado Springs. Pikes Peak International Hill Climb: Saturday and Sunday, August 25-26. Pikes Peak International Hill Climb.
Springs Beer Fest: When: Saturday, August 11th, 12:00PM. Where: Memorial Park in Manitou Springs. Ticket purchase required.
Craft Lager Beer Festival.
14th Annual Romp in the Park - All Breed Rescue. FREE! 11th, 10:30-4:30PM. Where: Norris Penrose Event Cener. Romp in the Park.
Acacia Park Summer Concert Series. FREE! Saturday evening Summer Concert, August 11th and 18th, 6:00 PM and 7:00PM. Where: Acacia Park. Acacia Park Summer Concert Series.
Good Times Car Show. FREE!
Where: Old Colorado City.
USA Pro Cycling Challenge - Colorado Springs Stage 5. FREE! When: August 24th; Estimated time entering Manitou Avenue: 3:00PM.
OPA! 14th Annual Greek Festival. When: Friday, August 24th - Sunday, 26th, 12:00PM; Times Vary. Where: Archangel Michael Greek Orthodox Church. Greek Festival. |
Kim Klapac...Locals Know!
   
Thank you for taking the time to read my monthly newsletter. I hope you find this issue interesting and informational. If you think this would be of benefit to someone you know please feel free to forward or add to
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