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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 Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
~Coming to Colorado Springs:  Colorado Crossing~    Colorado Springs' first "town center" lifestyle community is being designed!  Colorado Crossing will be located across from Pikes Peak Community College and New Life Church near Hwy 83 on the North end of Colorado Springs.  It is a 10-year project with the first phase predicted to be completed in November 2008.  A Cinemark 14- theatre (the only HD Theatre in town), the largest parking garage in Colorado Springs, a five-story office building, and 366 residential lofts will open once the first phase is complete in late 2008.  Colorado Crossing will be similar to Southlands in Aurora (near E-470 and Gun Club) and Lowry (near 6th Ave.) in Denver.  Colorado Crossing will be so different from any other area in Colorado Springs and I am so ex...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Although Stormwater Enterprise was initiated in Colorado Springs a while ago, many homeowners in the city of Colorado Springs are still furious about it.  I remember receiving our first bill from Stormwater Enterprise and thinking "Why am I getting charged for storm water?"  Apparently, that thought ran through many people's minds!  There is a lengthy FAQ regarding the Stormwater Enterprise in Colorado Springs and after reading through their justifications for the imposed fee, I am still not convinced and do not agree with it.  They address every question you can possibly think of asking including why it was not voted on, why it was created, who has to pay it, blah, blah, blah.  I did learn some new information I would like to share though. Depending on how much impervious (non-porous) ...
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By Don and Larue Goodwin
(MountainPeaks Real Estate)
The market news from Colorado Springs, Colorado Single Family Homes and Patio Homes - Active Listings and Sales Data Month Year Active Listings Number of Sales YTD Sales Monthly Sales Prices Average Median Feb 2008 5,571 556 1,091 $226,692 $197,500 Jan 2008 5,401 534 534 $235,023 $198,750 Dec 2007 5,385 644 9,995 $253,965 $214,882 Nov 2007 5,967 667 9,351 $252,074 $207,500 Oct 2007 6,470 723 8,685 $243,160 $205,000 Sept 2007 6,767 695 7,962 $255,330 $210,000 Aug 2007 7,052 945 7,265 $259,095 $220,000 July 2007 7,065 1,031 6,314 $274,308 $227,000 June 2007 6,870 1,118 5,283 $276,148 $223,900 May 2007 6,567 1,032 4,165 $267,361 $220,000 Apr 2007 6,052 896 3,131 $252,610 $213,350 Mar 2007 5,659 891 2,235 $254,809 $208,000 Feb 2007 5,202 669 1,341 $255,017 $214,950 RSC Data For professional...
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By Don and Larue Goodwin
(MountainPeaks Real Estate)
This weekend, venture up into the mountains near Guffey, or over the Wilkerson Pass and find the perfect weekend gettaway-there are thirty and forty acre parcels (”off the  grid”-with no power) that are listed for around $1,000 per acre. These parcels are great for a weekend of camping and relaxation; and a wide variety of these properties have great views, ponds, springs, and wells. Some of the most beautiful parcels are located near Eleven Mile State Park/Spinney Mountain State Park where there are hiking trails, fishing, ice fishing, boating and sailing.
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By George Tallabas, Idaho Real Estate
(RE/MAX Advantage)
One thing that stands out in my mind when I think about my visit to Colorado Springs  are the amazing know capped mountains and beautiful landscape. This city sits at the base of of Pikes Peak which at 14,115 feet provides an awesome backdrop to this wonderful city which is the 2nd most populous city in Colorado.It is no surprise that Colorado Springs was selected at the No. 1 Best Big City in the "Best Places To Live" report issued by Money Magazine in 2006.  With all of it's parks, bike trails, urban open areas spaces, business and commerce, theatres and other entertainment, it has become a destination for residents looking for a scenic place coupled with a vibrant economy. The Pikes Peak Gold Rush brought thousands of people to the area in conjunction with the California Gold Rush. F...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Updating a home does not have to consist of a major overhaul or remodel.  Homes can look SO much nicer by doing one simple thing:  changing the hardware.  If your kitchen cabinets look a little dated, try adding updated handles or knobs.  Cabinets can look really bare and boring when they do not have any hardware.  Change the hardware if the existing knobs on your cabinet are unappealing and dated.                                                    It is fairly inexpensive to purchase cabinet hardware for your kitchen and bathroom cabinets at Home Depot or Lowe's but it can make the world of a difference!!  Don't go too crazy with the style you choose, keep it simple so it will appeal to most buyers (i.e. brushed nickel).   Take a look at your bathroom sinks and kitchen sink, does the h...
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Belltower Condos in framing stage, Yes that is "Pikes Peak" to the left of Building #1 Building one of the "Belltower Condos" has broken ground and is currently "going vertical".  This project will provide a much needed shot in the arm to the Southeast Colorado Springs Condo market. Pricing for this project will begin in the upper $120's . There are seven different floor plans ranging in size from 843 to just over 1,200 square feet and detached garages are available as an upgrade. The most impressive aspect of this product is the list of standard features, in other words, you don't have to get on the upgrade train to get a really nice home.  Here's a list of standard features:  Nine foot ceilingsTextured walls and ceilingsRounded bull nose corners in living room, dining room, and kitche...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Homes from $400,000...  University Park is located off of Union between Austin Bluffs and Academy Blvd.  The area can be accessed off of Academy or Union.  Many of the homes in this area offer privacy while still being able to enjoy nearby conveniences.  There are no traffic lights when leaving University Park so getting out can be a little tricky during high traffic times especially if you are turning left!  Many homeowners, especially those located up on University Bluffs enjoy breathtaking views of Pikes Peak and the city of Colorado Springs.  There are still available lots for those wanting to build a new home in this area.  Many of the homes in this area of Colorado Springs are located on flag lots which may not be appealing to some homebuyers.  There are custom, semi-custom homes ...
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By Janelle Walston
(Walston Group Real Estate )
I wanted to share with the Colorado Springs community about a wonderful grant program that is available to business and property owners downtown.  The Colorado Springs Downtown Development Authority is offering a "Challenge Grant" for those who want to do improvements to their property that will benefit the public in some way. Grants will be awarded in accordance with the City's Imagine Downtown Plan, and match funds up to $25,000.  We are applying to put a mural on the blank side of the Giddings Loft building. Many communities in the United States have urban art programs, and Colorado Springs should be no exception.  We have already gotten underway with the VAS (Visually Aesthetic Spaces) program that places art in empty retail spaces. Now, let's get some permanent beautification happe...
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By Enid Beitzel, MRE, CRS, GRI
(Enid Beitzel Realty)
Many of us have our own ideas of what our real estate market is doing in Colorado Springs. We have had a few slow months but it seemed in February things picked up a little bit. I feel that the market will be doing better as it always improves come spring. Interest rates are really very good and with the many homes for sale what a great time to buy.
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By Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049
(ERA Herman Group Real Estate)
Tips for Home Buyers in Colorado  I was talking to fellow Realtor yesterday, and he told me a great story.  A friend of a friend, bought a new house in a new home in Colorado Springs and didn't have an agent involved to represent him.  Essentially the buyer was dealing with the representative at the new home center who works for the seller; consequently he didn't have anyone representing his interests. He signed the contract and everything was going along fine.   Then, he was laid off from his job about two weeks before closing; hence he couldn't qualify for financing the property and didn't want to buy it anymore.  The salesperson at the new home development told him that he had to buy it because the contract had a SPECIFIC performance clause in it, so he was going to be forced to buy ...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
When taking buyers through homes in Colorado Springs, they often have something to say about the property while walking through it:  "The paint on the walls is repulsive!", "I love the kitchen.", "What is that smell?", "I can see the neighbor's junk pile from this backyard!"  Of course, the buyers can freely communicate about the property when the seller is not there but what about when the seller stays inside the home during the showing?  Well, let's just say, it is uncomfortable for many buyers.  So if you are a seller reading this, please do not stay home during showings!  Buyers always cruise through the house quickly when the homeowner is there and feel like they cannot ask questions or say much because the seller is present.  Some even buyers even tell me "let's just go on to the ...
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By Colorado Springs Real Estate
(eSalehomes.com)
The Colorado Springs real estate market is experiencing difficult times as is the rest of the country, but appears to be stabilizing due to the recent influx of military troops to the town. Local companies have issued reports of new jobs over the next few years. There has never been a better time to move up into the home of your dreams because interest rates are still at record lows and homes can be found at a bargain. According to RealtyTimes.com, Colorado Springs in El Paso County shows the following statistics from the Pikes Peak Association of REALTORS:- Listings Sold: 490 (January - 480)- Median Sale Price: $200,000 (January - $200,000)- Average Sale Price: $231,121 (January - $236,939)- Average days on market: 97 (January - 98)- Total Active Listings: 4,675 (January - 4,528)- Medi...
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By Janelle Walston
(Walston Group Real Estate )
Everyone in downtown Colorado Springs is buzzing about the opening of two-way Tejon Street. We are converting our downtown main drag from a one-way street to allow for two-way vehicular traffic again. There has been much debate about how this will affect retailers, pedestrians and drivers--so, we're all excited to see what happens!In support of this event, we are opening the doors of our lofts on Tejon Street to the Downtown Partnership and local media outlets. News crews will have availability to some of the nicest views of Tejon Street, from our lofts! We are excited to be able to host this event in honor of the conversion and we are all anxious to see its outcome.  For those of you here locally, keep an eye on the news over the next couple of weeks!
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By Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049
(ERA Herman Group Real Estate)
Reasons to own a home in Colorado Springs Your mortgage is tax deductible, rent is not Mortgage payments let you build equity by paying down your principal balance, rent doesn't build equity Over the long term, real estate does appreciate Building equity in your house is a savings plan that you can realize when you sell Payments on fixed term mortgages stay the same, rents are subject to increases You don't have to depend on your landlord; you are your own landlord The best reason, the home is yours and you can make it your own The economy is going strong in Colorado Springs.  It's a clean, safe, beautiful place to live.  Posted by Kathy Torline - Nordstrom KAT, A Colorado Springs Realtor You Can Trust in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur...
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By Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049
(ERA Herman Group Real Estate)
Colorado Springs Realty Buying Foreclosures in Colorado Springs In Colorado, like a lot of markets in the U.S., there is a large selection of bank-owned properties for sale.   And, as long as these properties are priced correctly, they are going quick and fast; some of them are even drawing multiple offers.   And some of them are going for more than the asking price. Most of the potential home buyers in the market place think that bank-owned properties are a steal and that the bank can't wait to get rid of them.   They think they can come in and offer extremely discounted offers on the property and the banks will accept their offer.   But what buyers don't understand is that most banks have the process of selling these down to an exact science.  They typically have a couple of appraisal...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
There are many good real estate agents in Colorado Springs and if you are planning on selling your home, take the time to interview a handful of agents first.  Here are a few questions to add to your list when interviewing a realtor in Colorado Springs.1.  How well does the agent know the area your home is located in?  Some agents specialize in specific areas of the city and may know your area better.  Has the agent lived in the area long or did he/she just move here?2.  Is the agent you are interviewing a Realtor®?  A Realtor® subscribes to the Code of Ethics and is a member of the National Association of Realtors.   3.  How is the real estate agent going to market your home?  Will they advertise on television, the radio, newspapers, internet, or Open Houses?  Some real estate agents m...
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By Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049
(ERA Herman Group Real Estate)
Colorado Springs Real Estate I've been representing a buyer in a short sale in Colorado Springs and it's been 3 ½ months and we still don't have an answer from the bank.   I was doing some research on the property today and found out that the property is officially under foreclosure, which in Colorado means that a Notice of Election and demand has been filed.   But while I was searching I found out that 4 other properties on the same street, within 6 blocks are also under foreclosure; which is great information for my buyers to be advised about. I have a check list of things I research and give to a buyer before they put in an offer on a property, and I'm going to add to my checklist to research what other properties are under foreclosure in the area; as this may enter into a buyer's de...
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By Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049
(ERA Herman Group Real Estate)
Creative Mortgages - No wonder there are so many short sales I've been working with a seller who was referred to me from a good friend.  I've listed his investment house as a short-sale and we got a good offer on it yesterday.  So now the fun begins with trying to get the bank to accept the offer.  As part of getting my packet together to get to the bank, he gave me copies of his financial information to submit with the short-sale packet.  He has a loan of $390,000, interest only, on a house that is maybe now only worth about $320,000.    The interesting thing is that I don't know how he ever qualified for the mortgage, as the most money he has ever made in a year is around $35,000; and really doesn't have any other assets to speak of.  Logically it doesn't make sense to qualify for tha...
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By Patricia Beck, Colorado Springs Realty
(RE/MAX Properties, Inc., ABR, GRI, SRES)
Talking to or meeting with the buyers without the knowledge of your realtor- If you are speaking with the other party and no one else knows about it, promises can be made verbally that are not reflected in the written contract and this is a big no, no!  The reason you hire a real estate agent is so they can communicate with the buyers' agent to ensure the transaction goes smoothly.  Do not talk to the other realtor without your agent present either.  Not disclosing material defects of the property- If you are aware that the roof leaks or about the black mold in the bathroom upstairs, it is wise to disclose the information to your Colorado Springs Realtor and on the seller's property disclosure form you fill out.  Think you're off the hook after you walk away from the closing table?  Wro...
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