Colorado Springs Vintage Homes Blog
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Foreclosure pick of the month for April
Colorado Springs Foreclosure – Pick of the Month for April
Search for Foreclosures and Short Sales in Colorado Springs
Must Read Articles
My foreclosure pick of the week is Monument on 19990 Chisholm in the Woodcrest area of Monument. It includes over 4500 square feet, with 5 bedrooms, 4 baths, and a 3 car attached garage. The property was built in 1992; It is a 2 story, and incl
udes a finished basement.
The Upsides
Nice floor plan with plenty of space. Stunning fireplace with floor to ceiling brick, an amazing den with lots of wood and built in shelves. Formal Dining room, gourmet kitchen, open floor plan, plenty of room for a family. Wonderful wood floors on the main level.
The Downsides
Could use some updating, especially in the kitchen and bathrooms. Carpet could also use replaced. But for a bank-owned property, it’s in really good shape.
The Facts
The description in the MLS says: 5 bedroom, 4 bath, 3 car two-story located in Woodcrest with mountain views! 
Country kitchen with hardwoods, island and nook, 5-piece master bath, formal living and dining rooms, finished basement. Neutral Colors. Close to schools and I25.”
The El Paso County Assessor’s office has it valued at $478,000. At the current list price of $374,000 it’s currently priced below market. It is currently owned by the Bank of New York and was foreclosed on in January, 2010. At the current price, it’s at $83.00 a square foot and most of the properties in the Monument area go for close to $110.00 a square foot.
There are 13 other bank-owned properties in area, prices ranging from $237,000 to $995,000 and there 23 short sales in the area.
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Kathy (719-287-1049) KTorline@msn.com
Colorado Springs Foreclosure — Pick of the Month for March
Colorado Springs Foreclosure – Pick of the Month for March
Search for Foreclosures and Short Sales in Colorado Springs
Must Read Articles
My Foreclosure pick of the week is Colorado Springs on 2021 Carlton Avenue close to Constitution and Chelton. It includes over 2100 are
feet, with 3 bedrooms, 3 baths, and a 2 car attached garage. The property was built in 1960 ; It is a Raised Ranch plan, and includes a semi-finished basement.
The Upsides
The upsides….. nice roomy attached two car garage, kitchen has been partially updated and wall has been knocked out to open up the living space. A very modern master bath has been added with access directly to the hot tub on the deck. Also, the windows have been changed to vinyl which is always definite plus.
Read the rest of this entry »
Where are the Bank-Owned Homes in Colorado Springs
Where are the Colorado Springs Foreclosed Homes?
Search for Colorado Springs Foreclosed Homes
Related Articles:
The Colorado Springs area saw 62 new listings for Colorado Springs bank owned homes come on the market since March 1, 2010. The homes are in a variety of different areas of the city, but the Southeast part of the city had the most foreclosures come back on the market, with 12 new listings. There were no new foreclosures listings in the last 10 days in the Northwest or Manitou areas. The price on these Colorado Springs Foreclosed homes ranged from $39,900 for a condo in Southeast Colorado Springs to $510,000 for a 4000 square foot home built i 2005 located in Northgate. The average price was $163,033.
Kathy (719-287-1049) KTorline@msn.com
Shadow Inventory, fact or fiction?
Foreclosures and shadow inventory
As a Colorado Springs Realtor, I live and breath real estate news. There has been a lot of speculation lately on Shadow Inventory, and I’ve been thinking about how to figure out if the Colorado Springs housing market is going to have a problem with Shadow Inventory.
The term “Shadow Inventory” refers to homes owned by lenders that are not being offered for sale yet, but probably will be before 
long. The existence of a ’shadow’ inventory of homes for sale is a hard one to prove, but I did a little research, and here is what I found.
I looked at the Post Foreclosure Sale List from 6-24-09 from the El Paso County Public Trustee’s web site. This is a list of properties that completed the final stage of foreclosure in Colorado Springs, and were either bought back by the lender or purchased by an investor. I definitely found some properties on this list that were purchased back by the lender and still haven’t hit the market to be resold. As an example………
- 7150 Ravine Drive East, Certificate of Purchase went to BAC Home Loans Servicing for $198,072. Property has never hit the market to be resold
- 6993 Harrier drive, Colorado Springs, 80922, Certificate of Purchase went to the Colorado Housing and Finance Authority for $179,785.20. Property has never hit the market to be resold.
- 1524 Prairie Road, Colorado Springs, 80909, Certificate of Purchase went to the Colorado Housing and Finance Authority for $127,788.50. Property has never hit the market to be resold.
Some experts feel that lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale. And foreclosures, which some banks unload at fire-sale prices, can be a major factor in pushing down home values.
Even though I only went through one foreclosure report from in June, it does make me think there may be shadow inventory; as there definitely seems to be properties that got foreclosed on that still haven’t hit the market. Only time will tell if the Shadow Inventory theory has merit to it and if it will affect our pricing in the Colorado Springs area.
Kathy (719-287-1049) KTorline@msn.com
NEW Colorado Springs Foreclosure Listings
NEW Colorado Springs Foreclosures homes as of December 31, 2009
During the December 2009, 151 foreclosures came on the market; 56 (37%) of them are already under contract.
Homes in Southeast Colorado Springs and Homes in the Powers area and Homes in Fountain are still continuing to see more foreclosures than other areas of the city.
For a FREE list of up-to-date Foreclosure Homes in Colorado Springs, Email KTorline@msn
Read the rest of this entry »
Sunday Foreclosure Bargains
Foreclosure Listings in Colorado Springs as of November 1, 2009
During the last two weeks of October, 64 bank-owned properties came on the market; 15 (24% ) of them are already under contract, or pending.
Homes in Fountain and in the Southeast area of town continue to see the most foreclosures
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Deal or no Deal
Do you want to buy a Colorado Springs bank owned home?
Related article: 3 Things to know about foreclosure homes for sale
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
If you have an interest in purchasing a foreclosed home in Colorado Springs, you are probably going to be in for some surprises as you start to look at homes as many of the properties need work. I looked at a home yesterday in west Colorado Springs, that is a perfect example of some (not all) bank-owned properties. First the facts:
- Property was in a desirable west side neighborhood on 3827 Ellston in Holland Park
- Currently priced at $141,000
- House was built in 1971
- It’s a bi-level with over 1700 square feet with 4 bedrooms, 2 baths, 1 car garage.
This is what the description in the MLS says: 4 bedroom, 2 bath bi-level in Holland Park. Eat-in kitchen walks out to deck, master bedroom with walk-in-closet, large back yard with sheds. It doesn’t say anything that the house needs work, not just TLC.
What were they think when they did this?
One of the previous owners put rock facing on the front of the house; but vs. removing the existing brick, it looks like they just put mortar on the existing brick and slapped the rock on the front. I’m not any type of a construction expert, but my guess is that the rock won’t last and you can see where it is already pulling away from the house.
As you walk in the house up the stairs, the main living room has been re textured in a mustard yellow; a huge entertainment center has been semi-built (again in Mustard yellow) and not sure what they were trying to do on the ceiling with the space ship look.
All of the appliances have been Read the rest of this entry »
55 Colorado Springs Foreclosed Homes came on the market last week
Foreclosure Listings in Colorado Springs as of September 6, 2009
During the last 2 weeks, starting of August 24, 55 bank-owned properties came on the market; 19 (25%) of them are already under contract
For a FREE list of up-to-date Foreclosure Homes in Colorado Springs, Email KTorline@msn
New Colorado Springs Foreclosure Read the rest of this entry »
Homes in Southeast Colorado Springs continue to be hit by foreclosures
Foreclosure Listings in Colorado Springs as of August 22, 2009
During the last two weeks of August, starting on August 10th, 47 bank-owned properties came on the market; 15 (31%) of them are already under contract
It seems like many more properties are going to final foreclosure than the number of properties that are coming back on the market. There are lots of rumors that there is a back log of properties that will hit the market sometime in 2009.
For a FREE list of up-to-date Foreclosure Homes in Colorado Springs, Email KTorline@msn
All types of foreclosed homes are hitting the market, from A to Z
I was going through the list of the new Colorado Springs foreclosure homes that just came on the market, and was surprised by the huge range in properties.
For a Free list of Foreclosed Homes in Colorado Springs, email KTorline@msn.com
Related Articles:
There is a home that just came on the market in Cripple Creek with over 3,500 square feet for $110,000. Wow, but there 
is a catch. The property hasn’t been finished and doesn’t have a occupancy certificate on it. No interior walls yet, no deck, no floor covering, no bathroom fixtures. It’s almost a blank slate.
Then there is a home in Larkspur, 7918 square feet for $550,000 on 10 acres land. From first glance it looks like a great deal. But, I’ve been in this property, and even though it was built in 2005, property does need some work. Read the rest of this entry »
Foreclosed homes in Colorado Springs continue to sale quickly
Foreclosure Listings in Colorado Springs as of August 1, 2009
During the week of July 27th, 71 bank-owned properties came on the market; 46 (65%) of them are already under contract, or pending.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Must Read Articles
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
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
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
84% of Colorado Springs foreclosed homes went under contract in a week
Sunday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of June 15, 2009
During the last 7 days, 51 bank-owned properties came on the market; 36 of them are already under contract or pending. 84% of these new listings went under contract in a week.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
63 bank-owned properties came on the market last week
Sunday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of June 8, 2009
During the last 7 days, 63 bank-owned properties came on the market; 39 of them are already under contract or pending. 61% of these new listings went under contract in a week.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
Colorado Springs Foreclosure listings in SOUTHWEST area as of 6-10-09
Market information for Active and Foreclosure Homes in Southwest As of 6-10-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Cheyenne Meadows, Stratmoor Village, Skyway, Broadmoor, Broadmoor Bluffs, Quail Ridge
Active homes for sale, INCLJUDING FORECLOSURES
- Short sales: 22 (4.5%)
- Bank-owned: 10 (2.1%)
- Normal: 452 (93.4%)
Active Homes for Sale as of 6-10-09: 484
- Single Family Homes: 352 (73%)
- Condos/Townhomes/Patio Homes: 132 (27%) Read the rest of this entry »
71 bank-owned properties came on the market last week
Sunday bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of June 1, 2009
During the last 7 days, 71 bank-owned properties came on the market; 34 of them are already under contract or pending. 48% of these new listings went under contract in a week.
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn
