colorado springs homes Posts

Relocation to Colorado Springs

Are you looking to relocate to Colorado Springs? Sometimes, relocation to a new city can be scary. New neighbors, new streets, and new surroundings can be a little intimidating if you don’t know the area. Let’s take a brief look at what you can expect when you relocate to Colorado Springs so that you can more easily adapt to your move.

When you move to Colorado Springs, the one thing you can count on is beautiful surroundings. Colorado Springs is located right at the base of Pikes Peak, the highest peak of the Rocky Mountains. Each year, this city attracts millions of visitors looking to experience a small part of the beauty that it has to offer. Within the Colorado Springs area, you will find a variety of parks for nature lovers including the Garden of the Gods, the Native American tribal grounds, and Seven Falls. Wherever you go in this city you will be surrounded by sky high mountains, unique rock formations, and natural beauty.

If the gorgeous scenery is not enough to help you adapt to your relocation in Colorado Springs, perhaps the weather will be. Because Colorado Springs is surrounded by the Rocky Mountains, the climate here is quite mild and dry. In the summer, average temperatures range between 70 and 80 degrees, making it the perfect weather to catch a tan. In the winter, temperatures are mild reaching an average of around 28 degrees.

When it comes to relocating to Colorado Springs you will find that most of the economy is based around military installations, aerospace, and tourism. To give you an idea of how strong the military influence is, one fifth of all people in the city of Colorado Springs are employed by the military! Aside from the military, however, Colorado Springs also places a great deal of emphasis on space research. The Combined Services Space Center and the Consolidated Space Operations Center are both located in Colorado Springs, making it the perfect location for those interested in aerospace. As for tourism, Colorado Springs is booming. On average, the city drives over one billion dollars each year in tourism alone, one of the main attractions being Pikes Peak.

If you are looking to raise a family in Colorado Springs, you have plenty of educational opportunities to choose from. Colorado Springs offers access to over 39 different elementary schools, 9 middle schools, 9 high schools, and 6 alternative learning schools. Colorado Springs also has a lot to offer in terms of post-secondary education. With over 20 different colleges and universities in the surrounding area, Colorado Springs is home to Colorado College, the University of Colorado, and the United States Air Force Academy.

Relocation to a new city can be scary, but be assured that relocation to Colorado Springs, you will adapt quickly. Surrounded by beautiful scenery, a booming economy, and excellent educational opportunities, it does not take one long to adapt to life in Colorado Springs!

Posted by z4k!_xy in relocation to colorado springs and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

Realtor Colorado Springs

So you have decided that you want to purchase a home for sale in Colorado Springs? The next step is to hire a realtor! A Colorado Springs real estate agent can help you through the process of finding and purchasing a home. Let’s take a look at how a real estate agent can help you in your quest to find a new home.

When you first speak to a real estate agent in the Colorado Springs area, one of the first things that you will do is discuss your wants and your needs. Once the real estate agent knows what you are looking for, they can begin searching through the Colorado Springs MLS listings, finding homes that match your needs. Real estate agents can help to limit your house search based on housing type, housing price, location, and a number of different amenities such as number of bedrooms and bathrooms. A real estate agent can help you to pick through the long list of homes for sale, showing you only the houses that match your exact needs. Need a pool? Your real estate agent will find you houses with pools. Need air conditioning? Your real estate agent can find that too!

Not only can a Colorado Springs real estate agent help you to find your perfect home, but they can also help to choose the perfect location for you and your family. One of the things that make Colorado real estate agents so good at what they do is the fact that they are very familiar with the different neighborhoods. They can tell you any information that you need to know about schools in the area, crime statistics, demographic statistics, or anything else you wish to know. If you are new to the Colorado Springs area, this knowledge can be very beneficial to your decision!

One of the most important jobs that a Colorado Springs real estate agent has does not come while you are searching for a house, but rather while you are purchasing a house. Real estate agents are responsible for any communication between the buyer and the seller. The best part? Real estate agents have excellent negotiation skills, helping you to negotiate a price that works for both you and the seller.

Once you have reached your agreement with the seller, a real estate agent will handle all of the paperwork for you. When it comes to purchasing a home, there can be a great deal of paperwork that needs to be read and signed. Most of these papers, however, are written in a real estate code that is difficult for the average person to understand. A real estate agent can help guide you through the paperwork process, explaining any contracts that you may sign and answering any questions that you may have.

If you are looking to purchase a home for sale in Colorado Springs area, your first step is to hire a real estate agent. Colorado realtors can help you find the perfect home and then guide you through the process of purchasing it!

Posted by z4k!_xy in Homes for Sale in Colorado Springs and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

Colorado Springs Foreclosures Make a Great Investment

Homeowners whose homes have been put up for foreclosure are unfortunate but investors are somewhat lucky to find these deals on the market. Even with a “run-down” property, an investor can flip it and make a decent amount of money on its resale. The process of colorado springs foreclosures is somewhat simpler than other areas of the country as there is no need for a court appearance by neither the lender nor the borrower.

How does a foreclosure work?

When a borrower has defaulted on a loan, the lending institution issues a notice to the borrower and trustee. The lender requires a 3-moth reinstatement period to give the borrower the chance to pay the debt. When this time period elapses, a trustee’s sale is publicized, typically in the form of an auction. All costs related to the foreclosure and the principal amount is deducted from the winning bid. The balance is then given to the borrower.

Why foreclosures are good news for investors

A foreclosure is a good opportunity for an investor to snag real estate. This is especially true about Colorado Springs foreclosures. Though the market has experienced a dip in prices, the housing values in Colorado Springs are at a steady rise ranging from 2% to 6%. In addition, defaulted banks are willing to sell foreclosures at lower than normal prices in order to recoup what they have lost. They aren’t interested in real estate, they are more interested with lending money to new buyers.

There is actually an even better situation for investors as it relates to foreclosures. There is the instance when a property is sold in pre-foreclosure which means less cost and time. The buyer has more power to negotiate as the seller is willing to forego equity on the property to evade the tarnish to their credit report.

What are the steps that a buyer should take?

As a buyer, you should do a lot of research to find the right property. If you are planning on using the property as a primary residence, then factors such as the school district, the crime rate, local amenities, long-term plans for the area and comparable properties in the area should all be considered. When a property is decided upon, the next step is to approach a bank to get pre-qualified for a loan.

During this time, it’s recommended that you avoid making huge purchases. Lenders use your debt-to-income ration to establish what you can afford. It will include monthly housing costs, car payments, credit cards, student loans, etc. Additional debt will negatively impact the amount the lender will finance.

The next step is to either contact the seller or go to the auction to submit an offer. The ideal price will take into account the fact that banks hardly want less than 90% of the loan balance. Also, you should get the property professionally inspected. It makes no sense getting a “money pit” that has a lot of shortcomings which will end up costing a lot of money to fix. Keep this in mind when negotiating a price.

Posted by z4k!_xy in Colorado Springs foreclosures and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

Things to Know When Considering Relocation to Colorado Springs

Colorado Springs is an amazing place to live so if you’ve decided to live there then congratulations. However, that doesn’t make the moving process any easier. Here then are some tips to help make your relocation to Colorado Springs a lot smoother and the transition process faster.

Use the Internet

The internet is an amazing tool that you can use to make your life a lot simpler. You can conduct searches online whether you plan on renting or purchasing a home. There are a lot of real estate websites where you can do MLS searches. You can even do virtual tours to really get the idea of where you’ll be moving to. No longer are the days when you would have to drive around in search of the ideal place to live as you can do a complete search online or at least narrow down the search.

Altitude

Colorado Springs has an altitude of 6035 feet. Sure the air is purer but for some it’s hard to breathe. For this reason, I would suggest hiring a moving company to help you unpack. Altitude sickness is a problem for some people who aren’t used to this kind of altitude. Add to that the stress of moving and you may end up gasping for air. Drink lots of water and take it easy and you should be fine. In addition, keep an eye on your pets as this change in altitude could affect them as well. Altitude even has an affect on the cooking process. So, you will have to make water boil longer and keep things in the oven longer too.

Pets

Moving is not only stressful on you but your pets too. They may get discombobulated for a couple of days as they are in a new environment. It is your responsibility to watch them carefully and make sure they are kept inside or find a way to keep them from running away. They are most likely to do this as they are getting used to the new situation. Not to mention that the wild life in Colorado Springs such as foxes, mountain lions, large birds and bears would love to spot your pet alone. On the lighter side of things, Colorado Springs is not only a top rated place to live for humans but for pets as well. It was rated the number 1 Pet Friendly City in the country. You’ll find there are many parks and trails for your pet’s exercise needs and lots of vets as well for their health needs.

There Are Others Like You

A lot of people living in Colorado Springs are “newbies”. Whether it’s because they moved there because of the positive ratings or they are expatriates working for some of the large companies situated there or because they have been assigned at one of the military posts there, a lot of them aren’t natives. This is a great way to meet people and acquire friends. And yes, relocation to Colorado Springs is full of “friendlies”.

Putting Confidence Back in Colorado Springs Homes

Many Colorado Springs house hunters have lost confidence in the housing market due to some news released in the media. Here are some of the misconceptions out there which after this, hopefully will be dismissed.

Misconception number 1: Home loans are impossible to get right now

Traditional loans are available from as low as 5% and less. Another option is an FHA loan and they only require a 3.5% deposit. If you have not owned a home for 3 years, you even qualify for a first time home buyer loan. El Paso County has a 14 million dollar bond for you that you can get with a 3.9% fixed rate and down payment aid that you won’t have to repay. Colorado Housing and Finance Authority (CHAFA) also has funds that carry a small interest rate and down payment. There are other ways to receive assistance to purchase a house both on the local and national level.

The misunderstanding comes from the fact that the way in which persons qualify for loans has changed. For example, currently, you have to be able to prove appropriate income and a good credit score to get a mortgage loan. All that means is that the days with little or no documentation for loan approval are over. This is a good thing as this is one factor that led to the amount of foreclosures now being experienced. In addition, if you have a real estate broker that’s a good negotiator, you may be able to include your closing costs in the final agreement further reducing your home-buying expenses.

Misconception number 2: Rates aren’t increasing now so there’s no rush

Let’s look at an example. The typical 30 year fixed mortgage rate for the year 2003-2007 was 5.75%. Therefore, if you had a $200,000 mortgage, the monthly payments would work out to $1,167. Today, the same 30 year mortgage is between 4% to 4.25%. That same $200,000 mortgage at 4.25% would work out to $983. Imagine if you sold the $222,000 house and purchased a $300,000 house. The payments would move from the 5.75% rate to the recent 4.25% rate so that equates to a difference of $144 per month in payments for $80,000 more of house.

Misconception number 3: You’re better off waiting until there’s an improvement in the market

History always repeats itself. It’s not the first time that prices have fell. Markets are cyclical and knowing this we know that once again, prices will go up. If you do not currently own a Colorado Springs house, or are considering an upgrade to what you currently have, then this is the perfect opportunity for you to buy. If you are even only thinking about investing, it makes sense to buy when prices are low as well as interest rates and there is a lot of inventory.

Prices are beginning to stabilize and the economy is in the process of improvement. As a result, prices may increase soon in order to keep inflation steady so it is the best time to buy. Not to mention that banks want to get rid of their foreclosures and are reducing prices.

Posted by z4k!_xy in Colorado Springs houses and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

Renting Homes in Colorado Springs – Advice for Renters

Colorado Springs is one of the best places to live in the country for a variety of reasons. So, it’s no wonder you have decided to be one of the many people who move there each year. If you have decided against purchasing one of the beautiful Colorado Springs homes for fear of the real estate market then you are not alone. Even though Colorado Springs has done much better than some other areas of the country, it still leaves a lot to be worried about. Especially if you may not end up living there long enough to reap the rewards of future appreciation in home values. In that case, renting is an option that offers the freedom of not being tied down to a mortgage.

Colorado Springs has homes to suit a range of tastes. There are apartments, single family homes, condominiums, town houses and even farms. In any case, you should know what to expect from a legal stand point when going through a rental agreement.

A Colorado home rental agreement is pretty much standard. However, as the tenant, you have to ensure that there are particular areas adequately covered in the rental agreement. Issues such as term of lease, rental amount as well as the mode and schedule of payment, responsibilities as it relates to the payments of utility, repair responsibilities and maintenance costs, pets, contractual responsibilities of tenant and landlord and the subtenant policy.

Keen attention should be made to the section of the agreement detailing the security deposit. Colorado state law does not specify a lower or upper limit so keep this in mind in order not to get scammed. Additionally, the deposit can be used by the landlord specifically for cleaning and repairs resulting from damages made by the inhabitants, separate and apart from regular wear and tear. The law stipulates that the landlord has to return a portion or the whole deposit within a thirty day period following the end of the lease agreement. If you have any questions relating to any areas of the contract, do not hesitate to seek advice from a local real estate lawyer.

One area of the Colorado rental law that is very specific is the matter regarding peaceful property enjoyment. It states that the landlord is prohibited from entering the property without given permission from the tenant while the lease is still in effect. The two exceptions are if the landlord has emergency repairs to be made or if the landlord is put in the position where he/she has to demand rent.

Another key area to note is the eviction law. Eviction is only possible for three reasons including termination of the lease agreement, nonpayment of rent and breach of contract on the part of the tenant. The landlord is obligated to get a court order for eviction without which, he is not able to coerce the tenant to leave. The landlord is also legally required to give the tenant written notice advising them about the filing of the eviction case. The notice enables both parties the opportunity to resolve any issues or for the tenant to make preparations for leaving.

Understanding Colorado Springs homes rental law is crucial if you want to avoid scams and make the most out of your tenancy. It’s in your best interest to do some research before and after signing a lease.

Posted by z4k!_xy in Colorado Springs homes and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

How to Choose the Ideal Realtor in Colorado Springs – What Every Military Family Should Know

Military families tend to move around a lot. If your next military assignment is taking you to a Colorado Springs military base, then consider yourself lucky as stunning panoramic views and a fantastic alpine desert climate is what you have to look forward to.

The City has a long military tradition. There are a few Departments of Defense posts, all within easy reach of each other. There is Fort Carson, The North American Defense Command, Cheyenne Mountain Air Force Station, Peterson Air Force Base, an air base called Schriever, and the national United States Air Force Military Academy. All these installments are located where you’ll find the Rocky Mountains meet the Great Plains.

Usually, military families don’t have time to search weeks and months for the ideal house. Colorado Springs realtors all boast to offer military relocation services and experience. Truth be told, very few of them really understand what military relocation is all about. Here are some things that a realtor should be familiar with which will make choosing the right one a lot simpler.

What the Realtor Must Know

The ideal realtor who offers military relocation services should know the Colorado Springs area like the back of their hand, as well as the different local military installations and they must be able to identify and appreciate what you need. As previously mentioned, chances are, there won’t be lots of time to make decisions and choose a house. Swift and informed decisions will have to be made. Because the realtor is ultimately trying to help you make the best choices for your family, they should be able to quickly evaluate your needs and the type of home, neighborhood and conveniences your family is looking for. If you have children, then the realtor should be capable of showing you the best school districts and safe neighborhoods that are located in close proximity to where you will be stationed.

Not only should they know the basic things, but also important are other factors that as a homebuyer, you must be made aware of. There is a list of reasons that Colorado Springs is a great place to reside. Just ask Money Magazine, Forbes Magazine or the other mediums that have voted it “one of the best places to live or purchase real estate”. The City experiences over 300 days of sunshine a year, beautiful spots such as Pikes Peak or Garden of the Gods can be enjoyed year round, great neighborhoods and world-class shopping and dining are at your finger tips.

A great realtor should be able to include a quick tour of the Pikes Peak area to help you familiarize yourself with it as well as “sell” you on the idea of living there. After all, the average person is not usually enthused about frequently packing up and moving. You should look for an expert in fulfilling your needs which all starts from the first stage of short listing to the actual tours and the bidding process as well as contract signing. The ideal Colorado Springs realtor should be proficient in the unique issues that military families have.

Posted by z4k!_xy in Colorado Springs Realtor and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

Real Estate in Colorado Springs – An Investor’s Nightmare or Dream Come True?

Colorado Springs is a highly ranked place to live and has been so for a number of years. For example, it was voted in Money Magazine as the number 1 Best Big City in “Best Places to Live” in 2006. It was also voted as number 1 in Outside’s list of “America’s Best Cities” in 2009, number 19 in “Best Cities Overall’ by parenting.com in 2010 and number 3 as one of the “Best Cities for Relocating Families” by relocatamerica.com. Another category that Colorado Springs has been made mentioned in many times, is one of the best areas to purchase a home in the recovering housing market.

Positive rankings such as these make Colorado Springs an ideal place to live for many people. Due to factors such as tax rates, average home cost, home appreciation and other positive factors that affect the quality of life and cost of living in the City, the high rankings are valid.

However, even with such rave reviews, some people are beginning to cast doubt on the market’s long term viability due to the fact that the data is not holding up to expectations. For example, AOL Real Estate (March 31, 2011) has stated that Colorado Springs houses now reached 150,894 that have depreciated by 4.7% over the previous year. The most up to date reports have found that over 4,300 homes are up for sale in the City and the trend from May 2010 to now is only climbing upwards.

Colorado Spring’s 2011 real estate market has been seriously affected by the deficiency as it relates to a Federal New Homebuyers Tax Credit. Since the federal tax credit was extended until April 2010, it resulted in an influx of activity during the typical inactive months of January to March. The imminent result is an identified “double dip” in the 2011 real estate market. This of course will lead to a year by year comparison that is not truly tell-tale.

Even with this crisis happening, Colorado Springs, when compared to other parts of the country, is doing well. Forbes magazine recently named it number 6 out of 10 for “America’s Best Housing Markets for Investors”. So, if you are thinking about selling or investing, you can still have an air of optimistic expectation due to the positive indicator for long-term home prices.

This list put together by Forbes is based on market study by a real estate research firm. It was calculated on the community’s home prices during the economic crisis and it factored in issues such as employment growth and population. It was forecasted that the area’s prices would stay flat over the upcoming years but that home values would eventually rise due to a recent enlargement in population.

While real estate owners should feel pride about this ranking, the fact remains that it may or may not give life to home buying again. While nothing is assured, it must help somehow by having positive exposure in a nationally acclaimed magazine. Also, the Colorado Springs real estate market is influenced by other factors such as good schools, breathtaking surroundings and quality of life. These factors alone are great enough to make people want to live in the Springs.

Posted by z4k!_xy in Real Estate in Colorado Springs and tagged with colorado springs foreclosures, colorado springs homes, colorado springs houses, homes colorado springs, homes for sale colorado springs, house for sale colorado springs, mls colorado springs, real estate colorado springs, realtor colorado springs, relocation to colorado springs

The Advantage of MLS for Colorado Springs Real Estate

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.

Looking at Homes for Sale in Colorado Springs

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.

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