Colorado Springs Vintage Homes Blog
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Diamonds in the rough near the Broadmoor
Luxury Foreclosures near the Broadmoor
Search for Luxury Foreclosures in Colorado Springs
I previewed a variety of interesting bank foreclosures last week in Southwest Colorado Springs, including some homes in the Broadmoor area.
My tour for the week started at a wonderful home in Broadmoor Ridge priced at $269,900. As I started to write this blog today I went back to check some of the info on the property, and it is now under contract. I didn’t think it would last long on the market, as comparables in the area are going for $350,000 to $700,000.
Our second home of day was another luxury foreclosure home in Broadmoor Hills on Oakhurst Lane that has structural damage. The last time it sold in 1996 for over $500,000. The property has amazing views from every window, a 2 story atrium, all on a 1/2 acre lot. Since the last sale in 1996 it looks like it has been listed and withdrawn 7 or 8 times; and it’s been foreclosed on 2 or 3 times. Read the rest of this entry »
More townhome bargains – Part II
My favorite townhome/condos in northwest Colorado Springs
Related Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
This is a continuation of an article I recently posted about my favorite townhomes and condos in Northwest Colorado Springs. There are some very attractive deals in the townhome/condo market; as they seem to have been hit even harder on pricing than single family homes. Here’s some more of my favorite properties I’ve recently previewed.
Condominimus in RavenCrest in Northwest Colorado Springs: Wonderful complex off of West Woodmen Road; very 
close to I-25. There are currently a couple of 1 bedroom 1 bath units on the market for less than $75,000; and a 2 bedroom 2 bath units that is bank-owned for less than $110,000. There also is a HUD repo for sale that is listed as under contract which is a 2 bedroom 2 bath unit priced under $75,000. Not very long ago the 2 bedroom 2 bath units were going for over $130,000. Included with the great location, the units are in the District 20 school district and include an outdoor swimming pool and a club house; although none of them includes garages, just carport spaces.
Arbours at Mountain Shadows: One of my favorite complexes in northwest Colorado Springs, again close to Garden of the Gods and I-25; easy access. Most units have an over-sized attached 1 car garages with direct access to the living area; perfect for the security minded homeowners and are close to Ute Valley Park and Garden of the Gods. Very well maintained complex with an outdoor pool, clubhouse, and a hot tub. There are 4 units currently for sale ranging from $125,000 to $170,000 and the HOA’s are less than $200.00 a month.
Colorado Springs Homes for Sale — New Foreclosure Listings For week of March 30th
Saturday Bargains – Homes in Colorado Springs
NEW Foreclosure Listings in Colorado Springs – for the week of March 23, 2009
For a FREE list of up-to-date Foreclosure Homes, Email KTorline@msn.com
Breakdown of New Foreclosure homes for sale from March 30 to April 4, 2009
Partial list of Foreclosed homes currently on the market Read the rest of this entry »
A Diamond on the Plains, another luxury foreclosure in Colorado Springs
Luxury Foreclosure in Peyton/Falcon
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
I’m a little remiss in writing this, but last week I previewed luxury foreclosures in the Falcon and Peyton area. Found some great properties out there; most of them didn’t look like they had ever been lived in. First of all, the majority of Falcon and Peyton makes me feel like I’m back in Kansas again (which is where I grew up). Most of the lots are flat, you can see forever to the east, but they do have great views of the Front Range and Pikes Peak. The properties I looked at ranged anywhere from $313,000 to $569,000. I had a couple of them that were my favorites; but the one I like the best was on Gilbert Drive in Falcon/Peyton. What an amazing property! I’m not sure it has ever been lived in; and according to the assessor’s office it was finished in 2006. When you walk to the property it has a great courtyard, surrounded on 3 sides by a stucco walls and then you enter the house by a “giant” wood door; felt like I was a munchkin entering the castle.
The first thing you see when you enter is a wonderful fireplace in the living room; accented by the dark wood shelves on each side.
Buying a short sale vs. a foreclosure, what’s the difference?
Every buyer wants a “deal” right now and I don’t blame them!
Here is El Paso County we have an 8 month supply of houses (compared to a 5-6 month “normal” supply) and at 
least 1 out of 10 of them are “distressed sales” (foreclosure, pre-foreclosure, etc.). Although these figures vary vastly on a neighborhood by neighborhood basis. As an example, the Southeast part of town has been hit particularly hard by foreclosures and short sales, while the Northwest part of town is fairly stable. Even though these numbers may sound bad, lots of areas have 8 out of 10 properties that are distressed; especially in cities like Phoenix and Las Vegas.
Buying a pre-foreclosure or a foreclosure can be very different experience, both from a “normal” sale and from each other. Here’s a quick synopsis of the differences:
Pre-Foreclosure (often a short sale)
A short sale occurs when a house is worth less than the mortgage, and the seller’s lender accepts less than what is owed on the mortgage.
As an example, a seller may have a mortgage of $250,000 on their home in Colorado Springs. The seller is taking a job in a new city and the house is now only worth $220,000. A buyer makes an offer on the house in the amount of $220,000 and the net proceeds to the bank is $205,000 by the time the owner pays the real estate commission and the seller’s closing costs. The buyer and seller sign the contract but the offer is subject to approval by the lender, as the bank than must agree to accept $205,000 vs. $250,000 to pay off the loan. Hence the term short sale.
Some statistics say that a lender typically loses about 19% of a mortgage’s Read the rest of this entry »
A Diamond in the Woods — amazing luxury foreclosure in Colorado Springs
A Diamond in the Woods
For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com
Tuesday was my designated day to tour some luxury foreclosures in Colorado Springs. Some of my fellow Realtors and I decided to look at some foreclosed homes in Cedar Heights, a breathtaking gated community in the west part of the city. We saw several properties, including one that had major structural damage; and another that had some great views, but it was way too close to Rampart Range Road; My favorite of the day (I always have at least one favorite), was an amazing house towards the top of Cedar Heights. Views were to die for!
There was an amazing wood-burning rock fireplace; one side was on the great room, the other side was on the bedroom. The best part is that it was actually real rock vs. that fake stuff you often see in houses. 
Kitchen needed Read the rest of this entry »
Colorado Springs Luxury Homes are hit by foreclosures
Colorado Springs Luxury Homes — Foreclosures (Part II)
Even in affluent neighborhoods, foreclosures are beginning to appear more frequently
Wow, if only homes could talk ………………….. I previewed a variety of homes this week in Colorado Springs, ranging from a cute home in the East part of the city that was listed at $155,000 to one that was listed at $725,000. My favorite home of the day was an a
mazing Italian Villa type home in Northwest Colorado Springs. It was located on a breathtaking wooded lot, .85 of an acre, in one of my favorite Northwest Neighborhoods, Oak Hills.
If you want to receive a FREE copy of my favorite foreclosures in the city, email KTorine@msn.com
The property was originally built in 1987, but according to some of the information I found in previous listings, it went through extensive remodels in 2001.
The home was a little deceiving from the outside, looked nice but not
anything special. In fact, the outside paint color was a little odd to me, a pale yellow. Once the front doors opened, the first thing I saw was the circular hardwood stairway, great entryway. Other amenities at the home include 3 fireplaces, and many, many, many decks.One of my favorite things were the unique children’s room. First there was the “Ocean Room” with artistic painted murals on the walls, almost felt like I was walking into an aquarium. And the finishing touch was the life preserver on the ceiling.
Colorado Springs Foreclosure Listings in Southwest area
Homes in Colorado Springs
Market information for Active and Foreclosure Homes in Southwest As of 3-11-09
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Neighborhoods: Homes in Cheyenne Meadows, Stratmoor Village, Skyway, Broadmoor, Broadmoor Bluffs, Quail Ridge
Active homes for sale, INCLUDING FORECLOSURES, as of 3-10-09
- Short sales: 24 (5.3%)
- VA Owned: 3 (.7%) Read the rest of this entry »
Colorado Springs Luxury Homes, Foreclosures in Monument
Luxury Foreclosures
Neighborhoods: Homes in Woodmoor, Kings Deer, Palmer Lake, Walden Reserve, Jackson Creek
Search for Homes in Monument
For a FREE list of Foreclosure Homes, Email KTorline@msn.com
Active homes for sale:
- Short sales: 31 (6.7%) Read the rest of this entry »
Finding diamonds in the rough
Colorado Springs Foreclosures
Search for Foreclosed Homes in Colorado Springs
I have several buyers who are looking at buying Bank Owned Properties in Colorado Springs, and yesterday I went and previewed some of them in the higher-end luxury foreclosure market
I don’t think the pictures will do justice to what I saw; but there were some interesting properties. My favorite was a 
property in a wonderful section of town back behind the Broadmoor Hotel. The home is located on an amazing lot, with great views of the city, an abundance of local wildlife, but …………………… property definitely needs some help.
The outside wasn’t bad; had some shake shingles that need updating, and new windows that were put in but the installation wasn’t finished. Stucco on the outside would make it look much better. Fantastic decks all over the place; and a wonderful unique floor plan with around 5000 square feet, with 4000 finished. It’s definitely a diamond in the rough.
Comparable properties that are updated and in good shape in the same Broadmoor Heights neighborhood in Colorado Springs are listed for around $650,000; this one is listed under $400,000, and it sold back in 1998 for $950,000. I’m not a contractor; but I would guess that for $150,000 to $200,000 you could make this into an amazing property; then a new owner would have $150,000 in built-in equity. And for 5 bedrooms, 5 baths, 4 fireplaces on .8 of an acre, with expansive windows; it’s definitely a diamond in the rough. The property has been foreclosed on at least twice, maybe it’s just waiting for the right owner to see it’s potential?
The doors leading into the property Read the rest of this entry »
