May 2011 Archive

Colorado Springs has been fortunate in that it has not witnessed the big swings that other markets have had. Colorado Springs has been lucky enough to have a slow, stable and strong growth in its housing market. In fact, Colorado Springs has had an average growth rate of 7% since 1992 and has not had the massive declines that other parts of the country have experienced.

However, there is a down side to the housing market in Colorado Springs. Property owners have been looking for brokerage options in selling their homes. The frequency of homes in the Colorado Springs area being bought and sold is exponentially more significant compared to the national average. This is due to the fact that there are many military related jobs as well as a mobile workforce associated with companies such as HP and Boeing. Since homeowners aren’t usually a fixture to the years of appreciation that properties accumulate, the high brokerage commissions are severely felt. Sellers therefore believe that their only alternative is to skip agent fees altogether by putting their property up as For Sale by Owner. However, there are other alternatives available, one of which is to utilize a flat fee listing on the Multi Listing Service (MLS).

Often times, listings are sold by buyers’ agents who sometimes work with a listing agent. Whether the listing agent sells directly to the buyer or works with the buyers’ agent, the commission rate is typically the same. Even when the buyer did not have an agent, the seller may not see any savings.

A MLS listing allows the seller to see some profit as the agreement with the listing agent is to list the property for a small, flat fee. The seller is responsible for showing the property and handles negotiations with the agent as the middleman. If the buyer’s agent is responsible for the sale, only the buyer’s agent is paid but the listing agent is not paid at closing. If a seller finds some aspects of selling a house difficult, a MLS broker can agree to take on additional functions for more money at closing but this is usually less than 1%.

Other than savings on commission payments, a huge benefit to using MLS for selling property in Colorado Springs is the effective exposure. Buyers and their agents can find data with MLS feeds and internet sites. A for sale sign is never sufficient in pulling in interested house hunters, especially, given the fact that many of them are not residents of Colorado Springs.

The MLS for Colorado Springs outreaches to neighboring areas such as Woodland Park, Falcon and others. Sellers are finding that the flat fee MLS listings offer is effective in selling anything from an urban to suburban property and a single family home to a condominium. No matter the type of property, the fact that a seller can save money by avoiding those steep commissions as well as gaining exposure to buyers, makes this alternative the best to hiring a broker. It is expected that more and more sellers will use this medium in the future.

One of the most populated counties in Colorado is Colorado Springs. It’s located on Fountain Creek south of Denver’s Colorado State Capitol. It is home to a diverse mix of educational, cultural and historic attractions. For example, you will be educated at the Cheyenne Mountain Zoo, entertained at the Museum of the American Cowboy and wowed at the Peterson Air and Space Museum.

Persons seeking homes for sale in Colorado Springs will be intrigued to learn that tourists from around the world visit Colorado Springs to see the amazing rock formations as well as to experience the popular tourist spots such as Seven Falls, Garden of the Gods Park and the Cave of the Winds. Becoming a homeowner in Colorado Springs will drive you to the realization that the town draws people from all over because they love what it offers. It makes a fantastic place to live and not just a vacation spot.

Homes in Colorado Springs tend to be on the expensive side as compared to those located on the outskirts. However, you should factor in the fact that it is a popular tourist destination and so it makes for a good investment as your home will surely appreciate in value. Not to mention, you are able to rent your home as a vacation property in order to generate a size able income during peak tourist season. Here are some other reasons to become a homeowner in Colorado Springs.

Housing Assistance – Though housing can be expensive, you can take advantage of the fact that the city provides technical assistance and helps to provide affordable housing programs. Examples of funding include grants, low-interest loans for projects and direct rental assistance. Technical aid is inclusive of but not limited to assisting other organizations in the form of structuring projects, management assistance and program reviews.

Housing Rehabilitation – Citizens who are qualified for Colorado Springs real estate and home rehabilitation can receive loans with low to no interest. The US Department of Housing and Urban Development in association with the Community Development Block funds the local Housing Development Division.

Business-friendly – New and existing businesses are encouraged to transfer to, stay and expand in Colorado Springs due to the efforts of the Economic Development Division.

Transportation – There are many route and fare options available from the Mountain Metropolitan Transit. Public transportation and fixed route service is not hard to adjust to here. There is also a daily commuter bus – the Ute Pass Express- that runs along Highway 24 to and from Colorado Springs, Manitou Springs, Green Mountain Falls and Woodland Park. However, other transportation options include commuting aid through carpool matching, school pools and van pools.

Jobs – . As such, it attracts many highly educated and sought after professionals. This is a reason why there exist many outdoor activities and other attractions that add to quality of life so that the working community can find a work-life balance.