Colorado Springs Vintage Homes Blog

What can I buy for $100,000?

What kind of house can I buy for $100,000 in Colorado Springs?  

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The number of houses in Colorado Springs that are sold for less than $100,000 has continued to increased substantially over the last couple of years.    It’s a great time to be an investor in Colorado Springs and it’s a great time for a first-time home buyer to purchase their first home.  

Here’s a quick breakdown of houses SOLD under $100,000 and a comparison to previous years:  

01/01/09 to 08/15/09             769

01/01/08 to 08/15/08             540   

01/01/07 to 08/15/07             387  

01/01/06 to 08/15/06             469  

01/01/05 to 08/15/05             471  

Many of the these Colorado Springs homes are being bought by investors who buy the home for less than $100,000 and have payments between $650 to $700 a month.  Then they turn around and rent out the homes for $800 to $900 a month. 

With foreclosures continuing to be high in El Paso County, demand for rentals continues to increase.   Regardless of whether these homes are bought by investors or first time home-buyers, financing continues to be hard to get; as qualification standards keep tightening, tightening, and tightening some more.

There are currently 358 homes on the market in PPAR that are priced less than $100,000.   Some of the houses currently on the market in this price range are:       

513 E. Brookside, close to South Nevada and I-25

2 bedroom, 1 bath, priced at $99,950

1903 W. Yampa, close to Old Colorado City 

3 bedroom, 2 bath, priced at $100,000

7505 Gallard, in Falcon

2 bedrooms, 2 baths, 1 car garage priced at $99,900

If you would like more information about buying a foreclosure in Colorado Springs, Call Kathy Torline at 719-287-1049 KTorline@msn.com

Tags: 000 homes, 100, cheap homes in Colorado springs, Colorado Springs Foreclosure, colorado springs foreclosures, Colorado Springs Homes

This entry was posted on Wednesday, September 30th, 2009 at 5:02 pm and is filed under Colorado Springs Homes, For Buyers, Foreclosures and Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Dena Stevens said at September 30th, 2009 at 5:39 pm

   Kathy,

   This is very much a surprise to me. I didn’t expect to see such a high inventory of houses under $100,000 in El Paseo Cty.

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