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Market Conditions in 80918 : Real Estate Advice

  • All19
  • Local Info0
  • Home Buying6
  • Home Selling4
  • Market Conditions0

Activity 19
Thu Apr 4, 2013
Ashley McQueen Wilson answered:
No where close...this area is south east from the fire..
0 votes 1 answer Share Flag
Mon Apr 8, 2013
Katie Morse answered:
Cindy,

This home is roughly 15 miles from the site of the Fire last June. Please contact me if I can be of ANY assistance in your real estate needs. My cell is 719.433.1551.

Thanks!

Katie Morse
Broker
1st Capital Realty
katie@realtorcos.com
... more
0 votes 5 answers Share Flag
Thu Apr 25, 2013
Pamela Weatherford answered:
This property is currently under contract.The HOA is $371 a month. This is a manufactured home and is part of a land lease which means the seller does not own the lot just the home. The $371 covers the land lease, community center, swimming pools, fitness center, banquet room, snow removal, and playground. If you would like more information on this property call me at 719-661-8672 or email me at pamela@pamelashomes.com
You can also visit my website for the most up to date information on all properties currently available in and around the Colorado Springs area. www.ColoradoSpringsBestRealEstate.com
Pamela Weatherford
Keller Wiliams Clients Choice
719-661-8672
Soli Deo Gloria
... more
0 votes 5 answers Share Flag
Tue Jan 22, 2013
Glenda Miller answered:
This home is not on the market. If you would like, I can give a list of homes that are for sale in this area.
0 votes 5 answers Share Flag
Tue Jan 15, 2013
Jerry Wolfbauer answered:
Hello Don:
These 2 & 3 bedroom units rent between $ 700 to 950.009 depending on the number of bedrooms. The unit that you are talking about will rent for $ 700- 750.00 /month. Need any further info contact me through my website:www.yourcoloradospringsdreamhome.com
Jerry Wolfbauer
... more
0 votes 3 answers Share Flag
Mon Nov 19, 2012
Pamela Weatherford answered:
Hi Cleveland,
What is your question on this property? I would be happy to help. Email me or call me at 719-661-8672.
You can also visit my website at www.ColoradoSpringsBestRealEstate.com to get the latest information on homes for sale in and around Colorado Springs. I look forward to hearing from you.
Pamela Weatherford
Keller Williams Clients Choice
719-661-8672
Soli Deo Gloria
... more
0 votes 2 answers Share Flag
Wed Apr 27, 2011
Pamela Weatherford answered:
I love showing homes anytime. I love my job and I love seeing homes. Although if the roads are bad I prefer to stay home :0)
0 votes 10 answers Share Flag
Wed Oct 16, 2013
Sue answered:
My question has been posted here since March 25th! Does anyone have an opinion out there???
0 votes 3 answers Share Flag
Fri Sep 7, 2012
Tim Moore answered:
You have not given us much information to base a guess on, but I would think that if home prices are down, as much as they are in my area, it would be a logical time to be a buyer. This assumes you have good job(s) and plan to be in the house for 5 years or more. If so, buy. Renting gets you no where and no deductions and no equity. ... more
0 votes 22 answers Share Flag
Thu Feb 26, 2015
Christopher Lefebvre answered:
That seems like an awful lot of showings, but I guess it is possible if the house is listed at an attractive price. The question is, why haven't there been any offers? Is there an issue with the home that might be deterring buyers from making offers? ... more
0 votes 16 answers Share Flag
Thu Jan 14, 2010
Susan Cuddeback answered:
Hi Keli,
I would be happy to do a market analysis on your property in the Horseshoe Rancheros and I can refer you to an agent to do a market analysis in Fremont County for your Mountain property. Please feel free to contact me by email @ susan@susancuddeback.com or phone 719-229-1909. Hope this is of help.
Susan
... more
0 votes 3 answers Share Flag
Tue Jan 14, 2014
Brian L. A. Wess answered:
Hi Doug :o)

The answer to your question is much more complex than the it would seem to imply. Colorado Springs and Pikes Peak Region is a very diverse real estate market with housing dating from the late 1800's to new builds in neighborhoods and subdivisions spread out over about 194 Square Miles...and that just the properties that fall within the city limits.

We have seen moderate to high price corrections in some areas of anywhere from 15% up to near 30%, while other areas have seen more modest corrections and some areas have remained relatively steady or even seen very modest appreciations in the area of 1%.

The media often confuse the general public by speaking about the "national real estate market" which doesn't really exist. All real estate is local and home sales and appreciation can vary greatly even from neighborhood to neighborhood...especially in our market.

While existing home sales fell nationally about 17% in 2008, the Pikes Peak Region only saw a decline of about 14.5% in existing home sales during the same period. In fact, we are currently only seeing an 11.8% decline in existing home sales thru May 2009 year to date over may 2008 year to date.

While we have seen price corrections in many areas, Colorado Springs has remained somewhat insulated from the devastating price corrections experienced in some markets by several factors:

1. Our home values were not over priced to begin with. In a 2006 national market comparison Colorado Springs was determined to be only about 6% over value while at the same time we were seeing about 5% to 10% appreciations which usually indicate a sustainable, healthy market. In comparison, Naples Florida was determined by the same analysis to be about 105% over valued and not surprisingly they have seen their values correct downward in some cases up to almost 50% of what they were just 3 years ago.

2. Our large military community, 5 bases, keeps our market turning over as military moves have the average homeowner moving every 3 to 5 years in the Pikes Peak Region where that number is usually about 5 to 7 years nationally.

The number of foreclosures in an area is often a good indicator of where you will find the largest price corrections and this map (http://alturl.com/w5yg) shows the levels of foreclosures in the areas in and around Colorado Springs from April 1, 2008 thru December 31, 2008

All that said, we still have a healthy buyers market with over 5,000 single family properties on the market in the Pikes Peak Region with about 73% of listings coming in under $400,000, representing about 93% of all the home sales, and a market average sales price of about $220,000.

However, the available inventory, # of available listings on the market, has continued to shrink and the asking price to sold price percentage has leveled off and has even shown a modest increase in the last couple months.

I hope this information is of assistance and you can feel free co contact me if you have any further questions.

Best Regards
Brian L. A. Wess
CRS, GRI, ABR, ASR, CSR, e-PRO
Realtor®, Broker Associate
Residential & Investment Specialist
Pat Newell & Associates, Inc - Metro Brokers
Colorado Springs, CO
Direct: 719-528-6672
Web: BrianWess.com
COLORADO REAL ESTATE...DONE RIGHT!â„¢

THE Homes For Heroes™ Realtor® for the Pikes Peak Region
www.HomesForHeroes.com
... more
0 votes 2 answers Share Flag
Wed Oct 22, 2008
Kurt Thomas answered:
I believe they get data from MLS sources and from county assesor records. This is exactly why I tell sellers that they need a Realtor to help with arriving at a price instead of relying on the internet for a valuation. Trulia is an outstanding Real Estate Website but with millions of homes across the USA, they are bound to get a few errors in the records. ... more
0 votes 1 answer Share Flag
Thu May 14, 2009
Kurt Thomas answered:
I dont know about that area, but I do work with investors buying in Grand Junction. We have a 1.8% vacancy rate and are ranked among the top ten cities in the USA for appreciation in 2008.
Just be sure to do your due dillegence when buying a rental. I was a property Manager for 4 years, there are many factors to take into account to assure a successfull return and cash flow as soon as possible.
... more
0 votes 9 answers Share Flag
Mon Jan 10, 2011
Brian L. A. Wess answered:
Hi Travis

According to local information Rental vacancies in the area remain in the 7 to 10% range, so there is a lot of rental competition out there. Despite this rental rates have remained relatively stable.

Without knowing the general condition or square footage of the property as well as the number of garage spaces it is difficult to get a tight comparison of rental rates, however, for a property of that age in pretty good condition, I would estimate that you might be in the price range of $800 to $1,000/month based on activity in the area over the past year.
... more
0 votes 3 answers Share Flag
Fri Jun 19, 2009
Valerie Kleinman answered:
Hi Paul,
I know you and your family will enjoy your time in Colorado Springs. The market is still pretty saturated with homes for sale but private sellers are holding pretty firm to their prices. They usually will get about 97-98% of the asking price. There are builder incentives in the tract homes and depending on your price range, some very hungry custom home builders.. I personally prefer the northern part of ElPaso county, my girls both graduated from Lewis Palmer schools in the Monument area. We still have a little bit more room to roam. Many people request homes in the Academy D-20 schools as they have a very good reputation. I am sure you will have no problem finding a suitable home in our area. And no matter whom you work with, remember to at least check out the outlying areas as you may be able to get a new or newer home on a half to a few acres for the same price as one in the "city."
Good Luck and have a safe move.
Valerie Kleinman
RE/MAX Infiity
719-351-2393
vjkleinman@aol.com
... more
0 votes 14 answers Share Flag
Tue Jul 1, 2008
Brian L. A. Wess answered:
Your Question is very difficult to answer with any accuracy without specifics like amenities, how many Bedrooms, Bathrooms, garage spaces and how much finished and total square feet the property has.

In the last 6 months there have been properties within 1.5 Square miles of HWY 83 and Old Farm that have rented for:
$950/ month for a 3 BR, 3BA, 2 Car, 1236 Square foot property
$1395/ Month for a 4 BR, 4BA, 2 Car, 2704 Square foot property
$1600/ Month for a 6 BR, 5 BA, 3 Car, 3160 Square Foot Property
$1600/ Month for a 4BR, 3BA, 2 Car, 4235 Square foot property

There is also a competing property the is currently available for lease at:
$1100/Month for a 4BR, 3BA, 2Car, 1557 Square foot property

What you can successfully rent for will depend on the kind of amenities the property has. compared to what has rented and what you are competing against.
... more
0 votes 3 answers Share Flag
Tue Apr 8, 2008
David Bacon answered:
No one has a ballpark on this statistic, nor a suggestion on how I might get such an estimate? Still hoping for an answer...thanks :)

- dB
0 votes 4 answers Share Flag
Tue Jan 14, 2014
Suzanne Walker answered:
80909 is too diverse of a zip code to apply one generic average number to homes sold and could be extremely misleading. Is there a specific house or subdivision you are interested in?

If you looking as a buyer I'd say focus in on what properties sold for in the last 30 to 60 days for purposes of negotiating.

Would be glad to help,
Susan Walker
... more
0 votes 6 answers Share Flag
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