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Archive for July, 2009
Homes in Crystal Hills, hidden gems
My neighborhood pick of the week– Crystal Hills in Manitou Springs
Search for Homes in Manitou Springs
Related Post:
Crystal Hills is a community that is tucked away in Manitou Springs and contains mostly semi custom and custom homes built in the foothills of Colorado Springs.
To get to Crystal Hills homes from I-25, turn west onto Colorado Blvd. which turns into Manitou Blvd. Turn south on Crystal Hills Blvd. (by the Comfort Inn at 45 Manitou Avenue).
Single family homes in Crystal Hills currently range in price from $275,000 to $500,000.
The majority of the houses Read the rest of this entry »
Townhome market in Colorado Springs is finally starting to pick up
Colorado Springs Townhomes and Condos – June 2009 Market Report
Must Read Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently a 8.7 month of supply of homes on the market. Read the rest of this entry »
Do your homework on building permits
Do your homework on Building Permits
Previous Posts
- 5 reasons lack of building permits cause big problems
- Colorado Springs Building Codes and Permits – Part I
- Colorado Springs Building Permits – Part II
- Colorado Springs Building Permits – Part III
- Colorado Springs Building Permits — Part IV
- Colorado Springs Building Permits — Part V
- 5 reasons lack of building permits cause big problems
The El Paso County Assessor’s office is one of the web sites I frequently check when I’m getting ready to write an offer for a homebuyer in the Colorado Springs Area. I like to look at the square footage, the bedrooms, the baths, the garage, and the basement information listed on the assessor’s office and compare it to t
he information on the Multiple Listing Print-out. Also, out of curiosity, I also look at the assessed value listed on the property. (I’ll write more on this later.)
You may ask, why is all of this information important? The biggest reason it is important is that discrepancies may (and I underline the word may) mean that there has been additions and improvements to the property that have not been permitted. If the assessor’s records only show 2 bathrooms, and the property has 3, it may mean there was an additional bathroom added that wasn’t permitted. If the assessor shows the basement was unfinished and the property has a finished basement, again it may mean no permits.
The next step that I do is to check the Pikes Peak Regional Building Department and see what type of permits have been done on the property. Permits are important as they ensure Read the rest of this entry »
64 new foreclosed properties came on the market last week
Foreclosure Listings in Colorado Springs as of July 25, 2009
During the week of July 20th, 64 bank-owned properties came on the market; 42 (65%) of them are already under contract, or pending.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Southwest Colorado Springs still a Buyer’s Market
Market Report for Southwest – Single Family Homes Close to Fort Carson
Includes Broadmoor, Cheyenne Meadows, Bluff Bluffs, Quail Ridge
Search for homes in Southwest Colorado Springs
HOME REPAIR
The Southwest housing market continues to be a BUYERS Market, as there is currently a 9.7 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. 2008 Sales units were down 25% from 2007, but 2008 pricing was only down 10% from 2007. 249 Single family homes have been sold in 2009 vs. 260 for the same period in 2008 a decline of 4.5%.
Seller’s need to make it easy
Interested in selling your home in Colorado Springs?
Then make sure it is easy to show
Related Articles:
As I’ve been out showing many many different properties to a variety of clients I’m working with; I’ve realized what a 
difference it makes in how easy it is to show a home. There are some days that I’ve showed 10 – 15 properties to potential Colorado Springs home buyers , which means that I’m picking out the appropriate properties, organizing them by the area, and then putting them in to some type of logical order to show. Sounds easy, but it takes some work to get it organized correctly.
When a Colorado Springs home owners puts their property up for sale, they have many options in choosing an agent to list their house. I have many listings of my own; and usually get asked the same questions from potential sellers; and most of the time it has to do with pricing and marketing. But I’ve never had a seller ask me about the process of how buyers and buyer’s agent’s will make the appointments to see their house.
I’ve had some recent experiences that makes me realize what a difference “the ease of showing” can make. Essentially the easier it is for a house to be shown, the better chance a seller has of getting more exposure for their house.
Here’s some of my observations:
- Showing Services are my favorite service for showings; as they are professional, open 7 days a week during extended hours. (Of course, I am biased, as I use a Showing Service).
- My second favorite …………. Many real estate companies in Colorado Springs have you call their office directly, and most of them are open 7 days a week. My suggestion to sellers, don’t pick a realtor and a real estate agency that only answers their phones M-F; 8-5pm.
- My least favorite ……… Read the rest of this entry »
Pricing holds strong in Old Colorado City
Colorado Spring Real Estate
Market Report for Old Colorado City – Single Family Homes
Includes Crown Hill Mesa, Gold Hill, Old Colorado City
Search for homes in Old Colorado City
Must Read Articles:
The Old Colorado City housing market continues to be a Buyer’s Market, as there is currently a month of supply of homes on the market. A 6.9 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales are down 22% from 2008 to 2007, but 2008 pricing was only down 1.5% from 2007. 115 Single family homes were sold in 2009 vs. 134 for the same period in 2009; a decline of 16%.
Mountain Shadows homes in the foothills
My neighborhood pick of the week– Mountain Shadows
Search for Homes in NorthWest Colorado Springs
Mountain Shadows is a centrally located community in northwest Colorado Springs and contains mostly semi custom and custom homes built in the foothills of Colorado Springs.
To get to Mountain Shadows homes from I-25 and Garden of the Gods, go west on Garden of the Gods, turn North on Centennial. The neighborhood is directly to the west of Centennial bordered on the other side by the foothills.
Single family homes in Mountain Shadows currently range in price from Read the rest of this entry »
Home sales in Central Colorado Springs continue to be brisk
Colorado Spring Real Estate
Market Report for homes in Central Colorado Springs – Single Family Homes
Search for Homes in Central Colorado Springs
The Central part of Colorado Springs housing market continues to be a NEUTRAL Market, as there is currently a 5.66 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales were only down 16% from 2008 to 2007, but average pricing was down 5% from 2007 to 2008. 395 single family homes have been sold in 2009 vs. 467 for the same period in 2008; a decline of 15%.
Bidding wars on bank owned properties, the new “normal”
Are you interested in buying a bank-owned foreclosure?
Related Post: 70% of Foreclosed Properties go under contract in less than a week
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
What should I expect when buying a bank property?
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Be prepared to act fast. My research shows that 70% of bank-owned properties go under contract with 1 week of being put on the market. On many properties, the bank will accept the first acceptable offer they receive.
Since many of the foreclosure homes in Colorado Springs are priced anywhere from 10% to 25% under market value, these properties get many showings on them. There typically isn’t time to go back for 2 or 3 showings before a buyer makes a decision.
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Multiple bids are turning into the norm. Many bank-owned foreclosures in Colorado Springs are now in multiple bid situations. This means that the bank has received several offers (1 to 20) on the property all within the same day or two. Many banks then have each potential buyer sign a Read the rest of this entry »
10% of homes for sale in Monument are bank-owned or short-sales
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in Tri-Lakes As of 7-13-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Woodmoor, Kings Deer, Palmer Lake, Walden Reserve, Jackson Creek
Breakdown of homes for sale, INCLUDING FORECLOSURES
- Short sales: 32 (6.5%)
- Bank-owned: 15 (3.0%)
- Regular: 446 (90.5%)
70% of Foreclosed Properties go under contract in less than a week
Sunday bargains – Homes in Colorado Springs
Foreclosure Listings in Colorado Springs as of July 3, 2009
During the week of July 6th, 64 bank-owned properties came on the market; 45 of them are are already under contract, or pending.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Banks are doing surprising things
Banks are fixing up foreclosures to sale
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
Some interesting things are happening with bank-owned homes in the Colorado Springs Area. I have a client under contract to purchase a townhome in Colorado Springs; in a established well-kept complex in the Rockrimmon neighborhood where not many units come up for sale.
Before we looked at the property, I prepped my buyer and told her that bank properties are typically sold “as-is” with no 
repairs; and many times the properties are in bad shape. This particular bank seems to have a new and improved philosophy on selling their properties. They have :
** Replaced all the carpet on the main and upper level
** Furnished brand new appliances, including a microwave
** Completely cleaned the property
** Completely painted the main and upper level of the townhome Read the rest of this entry »
Beware, it’s lightening time in Colorado Springs
Did you know that Colorado and Florida lead the way for the most lightening related deaths last year?
For a Free Colorado Springs Relocation Guide, Email Kathy Torline at KTorline@msn.com
I work with many people who are looking at relocating to Colorado Springs, and tho
ught it would be a good idea to do a quick blog about lightening in Colorado. Colorado has an average of 16 lightening related injuries a year and 3 deaths a year, all due to lightening. For those statistics people out there, there is a entire web site devoted to lightening to Colorado.
When thunder roars, go indoors!
It’s such a serious problem in Colorado, Governor Ritter has proclaimed a week in June the Colorado Lightning Safety and Wildfire Awareness Week. Here’s some facts about lightening in Colorado:
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Thunderstorms are most likely from April to September, peaking in July. Though mountain thunderstorms are most common during mid afternoon, the first lightning strikes can occur before noon.
- Fifty percent of all known Colorado lightning casualties happen in one of four places: on mountain summits, under a lone tree, in wide-open areas and on lakes.
Lighting safety suggestions:
- If you hear thunder, go inside a building or get inside a hard-topped vehicle.
- If you are outside, avoid open spaces. Don’t be the tallest object in an area.
- Stay away from isolated trees, towers, or utility poles.
- Stay away from metal conductors including fences and wires; lightening can travel a long distance through metal.
- Make yourself as small as possible. Never lie flat on the ground.
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Some other articles that could be of interest:
- News Flash – Colorado Springs ranked Fittest City
- Moving to Colorado Springs, check out Zip Skinny
- El Paso County taxes are some of the lowest in the nation!
- Colorado Springs in ratings for Best Places to Start Over
For more information on Colorado Springs, please feel free to call Kathy Torline at 719-287-1049 or email: KTorline@msn.com
Northwest Colorado Springs home sales remain strong
Colorado Spring Real Estate – Market Report for Northwest
Single Family Homes
Search for Homes in NorthWest Colorado Springs
The Northwest housing market continues to be a BUYERS Market, as there is currently a 8.4 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “BUYER’S MARKET“. Sales were down 15% from 2008 to 2007, but average pricing was ONLY down 6.5% from 2008 to 2007. 160 Single family homes have been sold in 2009 vs. 186 for the same period in 2008; a decline of 16%.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004
| 1-1-2009 to 6-30-09 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of Homes Sold | 160 | 317 | 370 | 473 | 532 | 546 |
| Average Sale Price | $294,572 | $339,804 | $363,946 | $354,585 | $327,587 | $301,114 |
| Sales Price to List Price | 96.1% | 96.7% | 97.4% | 98.8% | 98.2% | 98% |
| Average Days on Market | 112 | 95 | 78 | 67 | 57 | 44 |
| Average # of house sold per month | 26.7 | 26.4 | 30.8 | 39.4 | 44.3 | 45.5 |
Current Report Read the rest of this entry »
Pinecliff homes, secluded and quiet
My neighborhood pick of the week– Pinecliff
As I’ve been out looking at properties recently all over Colorado Springs, I thought I’d start a new weekly series on my neighborhood pick of the week. Hope you enjoy it!
Search for Homes in NorthWest Colorado Springs
Pinecliff is a secluded community in northwest Colorado Springs of mostly custom homes built along the sides of a treed valley and on top of a cliff.
To get to Pinecliff, from I-25 and Garden of the Gods, go west on Garden of the Gods, North on Rusina Road, West (Left) on Popes Valley Dr OR West (Left) on Point of the Pines.
Single family homes in Pinecliff currently range in price $290,000 to $675,000; Townhomes range in price from $170,000 to $375,000 and complexes are Read the rest of this entry »
Looking at new homes in Colorado Springs, check out Corderra
Corderra
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
I recently had the pleasure of touring a selection of newly built homes in Corderra, located east of Powers Blvd and north of Research Parkway. The entire development is located in the highly rated District 20 school district and the other bonus is that the community is close to the Powers Blvd shopping corridor. The elementary school, Chinook, is one of the few schools in the area that teaches Mandarin Chinese beginning in kindergarten.
All of the homes in community are designed to not look like some of the traditional “cookie-cutter” houses you sometimes find in subdivisions; and they have 6 different architectural types in the community: American Heritage, European Cottage, Italian Electric, Craftsman, Prairie, and Spanish Eclectic. Read the rest of this entry »
128 new bank-owned properties came on the market in June
4th of July weekend bargains – Homes in Colorado Springs
Foreclosure Listings in Colorado Springs as of July 3, 2009
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
During June, 128 bank-owned properties came on the market; 76 of them are already sold, under contract, or pending. Average days on market for these properties is 31 days
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
