08/23/08
Colorado Springs Real Estate - Market Report Stetson Hills Subdivision
The Stetson Hills subdivision is located just east of Powers in Colorado Springs. The real estate market is very active in this area of Colorado Springs and there are 4.35 months of home inventory in Stetson Hills. There are 99 single family homes on the market in Stetson Hills so if you are selling your home in this area of Colorado Springs, it is important to be priced correctly since there is so much competition. Sellers are also competing against bank owned properties for sale in the area that are priced below the market values.
As seen in the bar graph above, total single family home sales in Stetson Hills has gradually decreased over the past four years. There have been a total of 117 home sales thus far in Stetson Hills.
This area of Colorado Springs offers newer homes that are still affordable for first time homebuyers in Colorado Springs. Most of the homes in this area were built by US Homes.
For further information on available Real Estate in Colorado Springs contact your Colorado Springs Realtor, Patricia Beck.
08/22/08
Colorado Springs Real Estate - Market Report - Vista Grande Subdivision
Vista Grande is located in the Northeast area of Colorado Springs. Homes in Vista Grande were built in the 1960's and 1970's and consist of bi-level, tri-level, and ranch floor plans. Although homes are older in this area of Colorado Springs, homeowners enjoy larger backyards and mature landscaping. There are many large trees in Vista Grande which offers additional privacy between these Colorado Springs Homes. Vista Grande is also conveniently located, providing quick and easy access to shopping, restaurants, and schools.
El Paso County Real Estate - Market Report - Peyton Pines Subdivision
Peyton Pines is a beautiful area east of Colorado Springs near Highway 24. Most properties are located on 5-acre lots and some are zoned for horses. Even though it takes home owners approximately 40 minutes to drive to Colorado Springs from Peyton, they like the privacy and having more open space. Homestead Ranch Regional Park is nearby and offers many horse trails and open space. It is a beautiful park that many of its visitors rave about.
08/19/08
Colorado Springs Real Estate - Market Report Gatehouse Village Subdivision
Market Report for Gatehouse Village May - July 2008
Absorption Rate: 4.33%
Inventory: 3.23 months
List Price vs. Sale Price Ratio: 99.5%
Average List Price in Gatehouse Village: $277,246
Search the Pikes Peak MLS
To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website
Colorado Springs Real Estate - Market Report Charleston Place Subdivision
Market Report for Charleston Place May - July 2008
Absorption Rate: 2.33%
Inventory: 6.0 months
List Price vs. Sale Price Ratio: 98.1%
Average List Price in Charleston Place: $312,800
Search the Pikes Peak MLS
To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website
Colorado Springs Real Estate - Market Report Wagon Trails Subdivision
Market Report for Wagon Trails May - July 2008
Absorption Rate: 6.67%
Inventory: 4.04 months
List Price vs. Sale Price Ratio: 98.5%
Average List Price in Wagon Trails: $254,640
08/18/08
Bank owned properties in Colorado Springs
There are many bank owned properties for sale in the Colorado Springs area and many home buyers are looking for a bargain. Bank owned properties are generally listed below market value but that is not always the case. In other words, just because a property is bank owned, don’t assume it is a bargain!
There are numerous factors to consider when purchasing a bank owned property:
1. Financing- Most bank owned properties offer Cash or Conventional financing but do not offer other terms including FHA or VA financing. If a buyer wants to finance their loan for a bank owned home through FHA or VA, they may run into a snag when the property is being inspected or
appraised. FHA may only finance the loan under certain conditions (i.e. the furnace or water heater being in working condition). VA appraisers inspect the property to ensure that it is safe (i.e. foundation, interior, and exterior) and if the property is deemed unsafe, obtaining VA financing may be difficult or impossible. Banks will often sell their properties "as-is" and will not be willing to make repairs for the buyer even if it is conditional on the FHA or VA loan being approved.
2. Homeowner’s Insurance- If you decide to purchase a home and there is a pre-existing problem (i.e. damaged roof), the insurance company may not be willing to insure your home unless the problem is repaired within 30 days after obtaining property insurance. If an issue arises during the inspection of a bank owned property you are going purchase, contact your homeowner’s insurance to find out what is covered in your policy and if you can file a claim relating to pre-existing problems with the home.
3. Sold As-Is- Don’t plan on asking the bank to making any repairs because most bank owned properties are sold as-is. The inspection is usually for informational purposes only and the buyer needs to assess the cost of necessary repairs when purchasing a bank owned property in Colorado Springs. The bank normally allows the buyer 5-7 days to obtain an inspection.
Patricia Beck – Selling Colorado Springs Homes
Colorado Springs Real Estate - Market Report Sundown Subdivision
Market Report for Sundown May - July 2008
Absorption Rate: 5.0%
Inventory: 4.2 months
List Price vs. Sale Price Ratio: 98.8%
Average List Price in Sundown: $195,176
Search the Pikes Peak MLS
To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website.
Colorado Springs Real Estate - Market Report Vista Mesa Subdivision
Market Report for Vista Mesa - May through July 2008
Absorption Rate: 2.33%
Home Inventory: 3 months
List Price vs. Sale Price Ratio: 96.9%
Average List Prce in Vista Mesa: $195,176
Search the Pikes Peak MLS
To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website.
Colorado Springs Real Estate - Market Report University Park Subdivision
Market Report for University Park May - July 2008
Absorption Rate: 2.33%
Home Inventory: 6 months
List Price vs. Sale Price Ratio: 96.4%
Average List Price in University Park: $362,814
Search the Pikes Peak MLS
To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website.
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