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Colorado Springs, CO Real Estate News

By Derek and Mariana Wagner, The Artisan Group - Colorado Springs REALTORS®
(The Artisan Group- Keller Williams Premier Realty )
Welcome to this meticulously updated 4-bedroom, 4-bathroom home that combines modern amenities with exceptional comfort. This home offers a versatile floor plan that includes a main level office, which can easily be converted into a 5th bedroom, providing ample space for family, guests, or a dedicated home office. New, energy-efficient windows bathe each room in natural light, and luxurious vaulted ceilings on the main level enhance the fresh, modern aesthetic. The kitchen is equipped with steel appliances, including a double oven and a top-of-the-line refrigerator, perfect for culinary enthusiasts. The laundry room, conveniently situated off the three-car garage, includes a handy utility sink. The finished basement is a highlight, offering a rec room w/full wet bar. It's a perfect spac...
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By Janelle Walston
(Walston Group Real Estate )
Any community trying to develop a thriving downtown area must necessarily learn how to balance the great mixture of people and uses in a small amount of space.  Downtown Colorado Springs is no exception, and we are at a very critical turning point in deciding what type of downtown we will have. The right mixture of residential housing, services for residents, retail, museums and entertainment must be reached. In a small geographic space with high density, it is especially important that all of us be good and considerate neighbors--part of a highly functioning and tight knit community.Unfortunately, much of the press about downtown Colorado Springs of late has revolved around the problematic and rapidly expanding nightlife. Our ratio of nightclubs and bars to residents has risen far abov...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Sundown is located in the Northeast area of Colorado Springs and is bordered by Dublin, Templeton Gap, and Austin Bluffs just west of Powers Blvd.  Sundown is conveniently located near schools, parks, and both new hospitals (Penrose and Memorial North) in Colorado Springs. The area also offers quick and easy access to shopping, restaurants, and entertainment along the Powers Corridor.  Floor plans for homes in this area include:  tri-level, 4-level, two story, and ranch style homes.  Homes built in the area go as far back as the 1980's while new homes continue to be built on Fossil Butte Drive.  This specific area of Colorado Springs offers some great starter homes for first time homebuyers.  Market report for Sundown and Sundown North 2/17/2008-3/17/2008Total number of Single Family Ho...
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By Derek and Mariana Wagner, The Artisan Group - Colorado Springs REALTORS®
(The Artisan Group- Keller Williams Premier Realty )
Welcome to the third series in the "Why Didn't My House Sell?" series.You are probably reading this because you had your home on the market for several months and it didn't sell. You want to know WHY it did not sell. You are not alone. Many homes for sale in Colorado Springs do not sell with the first listing agent that lists it. And many of those sellers wind up calling us when their original listing agreement expires, so we answer this question a lot. In the earlier two articles, we discussed how price and condition play a part in why your home did not sell. Read More:Colorado Springs Real Estate Answers: Why Didn't My House Sell? Part One: PriceColorado Springs Real Estate Answers: Why Didn't My House Sell? Part Two: ConditionThis article article deals with the one element that you, ...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Foreclosures in Colorado continue to be high and filings last week reached 915 for all counties in Colorado.  Out of the 915 filings last week, El Paso County had 115 filings for foreclosure.  Although there are many foreclosures in Colorado, we are no longer one of the top 5 foreclosure states in our country. I actually have not known anyone personally who was at high risk of losing their home to foreclosure until recently.  These homeowners purchased their home in Arapahoe County not even one year ago and are going to stop making payments on their mortgage since they are in over their heads.  I reviewed some of the possible options with the homeowners and they are leaning in the direction of foreclosing on the home despite of the consequences the foreclosure will have on their already...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
The Southwest area of Colorado Springs is in close proximity to the mountains and foothills so expansive soils can be a problem.  Expansive soil containing clay will expand and contract when exposed to water.  Homes can be built on expansive soils but the foundation is constructed differently to prevent future foundation problems with the home.     When you look at homes in certain areas of Colorado Springs (i.e. Southwest area) here are a few things to look for:Cracks in the walls or ceilingMake sure doors and windows close properlyLarge cracks in the foundation or exterior wallsHeaving wallsSloping or rollercoaster floors in the homeLarge uneven cracks that run across the driveway, sidewalks, and garage.  If your home's foundation was poured on expansive soil and you forget to clean y...
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By Eddie Hurt
(ERA Shields Real Estate)
If the bell curve does not swing upwards in March, it likely will in the next 45 to 60 days. The last four months have been some of the slowest market activity in memory, but some forces are at work to improve the conditions of the market. A market improvement will not will be uniform or consistent in nature, but will be characterized by months of inventory reducing, prices stabilizing, and time on market decreasing for sellers with a well-positioned home in above-average condition.The negative news is really easy to find after the February data publish. The year-over-year price is off 9%, unit sales are off 18% and sales volume is off over 26%. There is a 10 month supply of housing. There have been 62 sales over $500,000 in the last four months... and there are 923 homes for sale askin...
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By Eddie Hurt
(ERA Shields Real Estate)
It is very hard to discount the average sales price at a three-year low. The dip of 20% in sold units was equally alarming. The January sales price was a $20,000 dip from December when signs of price stability were beginning. The price dip undoes some of that stability, but needs to be analyzed. However, in terms of units, January is the slowest volume month of the calendar year (only 590 units on average sell each January over the last 9 years). With such a small number of sales, and with so many of them occurring in the lower price ranges, it is obvious that the higher value homes (in excess of $300,000) saw very little traffic, while homes at average and below ($150,000 to $250,000) saw closer-to-seasonally average traffic and contracting. Most of the sales volume dip was in the high...
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By Eddie Hurt
(ERA Shields Real Estate)
Markets are fluid. Wall Street rises and falls daily. Interest rates require buyers to lock because they move up and down hourly. Real estate prices move up and down because they are ruled by supply and demand. Economics involves markets, markets change, real estate is a market, and the local real estate market changed in 2007. It changed early, often and as 2007 closes, it is in the midst of yet another change brought about by a number of variables.In early 2007, one in four homes for sale (almost 1200) were sitting inventory builder properties. With direct competition from new-built versus resale, private citizens had a more difficult time marketing their property versus new construction options. As local builders stayed true to their self-imposed permitting freeze, and built to prese...
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By Eddie Hurt
(ERA Shields Real Estate)
Markets are fluid. Wall Street rises and falls daily. Interest rates require buyers to lock because they move up and down hourly. Real estate prices move up and down because they are ruled by supply and demand. Economics involves markets, markets change, real estate is a market, and the local real estate market changed in 2007. It changed early, often and as 2007 closes, it is in the midst of yet another change brought about by a number of variables.In early 2007, one in four homes for sale (almost 1200) were sitting inventory builder properties. With direct competition from new-built versus resale, private citizens had a more difficult time marketing their property versus new construction options. As local builders stayed true to their self-imposed permitting freeze, and built to prese...
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By Derek and Mariana Wagner, The Artisan Group - Colorado Springs REALTORS®
(The Artisan Group- Keller Williams Premier Realty )
Welcome to part two in the series: Why Didn't My House Sell?This article will deal with a very important reason why a home does not sell in today's Colorado Springs real estate market.Homes for sale in Colorado Springs do not sell with the first agent that lists it, in many cases. So we have set up this series of articles to answer the common question: "Why didn't my house sell?"Read More: Colorado Springs Real Estate Answers: Why Didn't My House Sell? Part One: PriceReason #2: CONDITIONLuckily, this is another factor (like price) that you, the home seller can control. For a home to sell in today's Colorado Springs housing market, it must be in the best condition possible. For your home to sell in the current housing market, your home must be either:a.)    The NICEST home on the market ...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Current Market Report from 2/13/2008-3/13/2008         Dakota Ridge is located near Vista Grande in the Northeast Area of Colorado Springs and is bordered by Austin Bluffs, Rangewood, and Flintridge.  Richmond and Allure homes border the outer rim of the area and beautiful semi-custom and custom homes that are located around the Saddle Rock area are situated on larger lots.  There are many places to walk or jog in this Colorado Springs Neighborhood and there is a trail system along the ridge behind Saddle Rock as well.  The residents in the neighborhood are friendly and you will see many of them out and about during the day swimming in the neighborhood pool, playing on the tennis courts, or taking walks.  Neighborhood barbecues and get togethers take place during the summer months; ther...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
You close on your home, clean the carpets and paint, move everything in, and then you are ready to finally begin settling in to your new home, but wait, did you remember everything?  Here are a few items to look over just in case you forgot something and it is an easy thing to do, especially, if you are a first time homebuyer! Call the utility company before closing and make sure the utilities are moved to your name, you won't be happy if there is no electricity!You are going to create garbage, so set up a trash service to come pick it up.  Don't forget to buy trash cans for different rooms in the house.Set up the internet, cable, and phone service.  You can reference these important phone numbers if you live in the Colorado Springs area.    Change your address with the post office so y...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
The housing market in Colorado Springs has been impacted as other areas in the nation but homes are still selling in our city if they are priced correctly.  Many sellers do not understand how market values affect how much they can ask for their home.  Sure, you can ignore what the market values are in your area and list your home for much more, but it probably will not sell and that does not do any good.  If your home is has been actively for sale and you have had many showings with no offers or have had few showings, your list price is probably too high for the market in your area.  It is not wise to overprice your home and then drop it a few thousand here and a few thousand there every few of months, that does not work very well in today's market.  You will lose marketing time if you ...
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By Dave Hammond
(Keller Williams)
lucky for my clients my wife is an interior designer, I include her services in home staging for every listing I do.  Makes my sellers feel great that they have a home stager come in and help them at no cost to them. Also I truly believe that my listings sell faster because they look ready to sell. It is really a win win situation.  I am a real estate agent and not a designer and I believe you should stick to the professionals to do thier respective jobs.  If you are an agent and have not used a pro to stage your homes for sale I would highly reccommend that you look into it.  It makes your job eaiser and you look even better in the eyes of your sellers.
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By Jamie Mades
(Keller Williams - Clients' Choice)
If you're a hiker, there's an area of Colorado Springs you really need to checkout: Mountain Shadows.It has an abundance of great trails outside your front door. You've got Ute Valley Park, which is simply enormous and offers hiking, mountain biking and trail running. The Air Force Academy is just north with hikes a plenty and Garden of the Gods directly south. Even Manitou is a quick trip down 30th St which has the Barr Trail and Pikes Peak.My favorite part about Mountain Shadows is quiet, feel good atmosphere of a neighborhood nestled in the foothills of the Rocky Mountains.Whatever the reason, if you like the outdoors and are looking for a home, you gotta checkout Mountain Shadows.Search for Mountain Shadows Homes in Colorado Springs
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By Derek and Mariana Wagner, The Artisan Group - Colorado Springs REALTORS®
(The Artisan Group- Keller Williams Premier Realty )
Did you know that many homes for sale in Colorado Springs do not sell with the first agent that lists it? This may seem odd, but it is true. We work a lot with folks who recently had theur home listed with another agent, but it didn't sell. The most common question we hear from these Seller clients is "Why didn't my house sell?" To answer this question, we have created a series of articles that will help you understand WHY your house did not sell.Welcome to part one in the series: Why Didn't My House Sell?This article will deal with the number one reason why a home does not sell, especially in the current Colorado Springs real estate market. Reason #1: PricePrice is the number one reason why a house does not sell.Most Sellers do not understand the current real estate market in Colorado ...
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By Jamie Mades
(Keller Williams - Clients' Choice)
The Federal Housing Administration just raised their limits across the nation.  El Paso County's limit is now $325,000.  What does this mean for you?  The FHA provides mortgage insurance for investors.  Since the government backs these loans, they're less risky.  This means lower rates for buyers.  Raising the limit allows buyers to get better rates in bigger homes...i.e. more home for the same monthly payment.Good news for the housing market in Colorado Springs.
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Greenbriar Park Market Report from 2/1/2008-3/7/2008Greenbriar Park is a desirable area to live in if you are looking for a home on the north end of town; it is close to the intersection of Dublin and Union.  It is located in School District 11 with many conveniences nearby.  Many of the homes in this area were built in the 1980's and have larger lots.  Cottonwood Park is within walking distance of Greenbriar Park and offers a newer playground, Frisbee golf, trails, tennis courts, basketball courts, baseball fields, soccer fields, and a rec center that is fun for the whole family with a workout room, wave pool, lazy river, and waterslide.  If you have children and live in the area, there is plenty to do at Cottonwood Park and it is only minutes away!  The park can get pretty busy during...
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By Jamie Mades
(Keller Williams - Clients' Choice)
The President recently signed the 2008 Economic Stimulus Package into law. As part of the deal, Fannie Mae and Freddy Mac loan limits were raised from $417,000 to a cap of $729,750. So what does this mean in plain English and more importantly, does it help Colorado Springs? Fannie Mae and Freddy Mac guarantee loans for investors. When a buyer uses that program, investors know it’s a safer risk. Translation: lower mortgage rates for the buyer. When a buyer goes above the limits they guarantee, interest rates go up, usually from 1 – 1.5%. For a $500,000 loan, that’s an additional $400 a month. The government raised the guarantee ceiling to help stimulate the housing market by making higher-priced homes more affordable. This was a real problem in places like San Francisco and New York whe...
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Powers, Colorado Springs Market ReportThe Powers area in Colorado Springs covers almost 22 square miles and includes Peterson Air Force Base and the Colorado Springs Airport. The northern and southern boundries are Woodman and Drennan respectively. The east and west boundries are Marksheffel and Powers Blvd. The neighborhoods in the Powers area include Stetson Hills, Ridgeview at Steston Hills, Springs Ranch, Cimarron Hills, Constitution Hills, Rustic Hills, Eastborough, and Northcrest. School districts are serviced by Colorado School District 11 and Falcon School District 49.  New Homes on the Market: 110 (Average List Price:$208,303)Under Contract: 40 (Average List Price:$210,716)Sold: 14 (Average Sold Price:$214,171)Average Days on Market for sold properties:106Sold Price vs. List Pr...
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