Think of the Berkshire Hathaway Rocky Mountain Realtors PeakDream newsletter as a “Special Membership” to our little club. You’ll get updates about the real estate market and local statistics, but it’s also a valuable tool for homeowner tips and advice, changes and news about Southern Colorado, plus your exclusive invites to events and mixers at our offices. We promise to keep it brief and stick to bi-monthly newsletters so we won’t flood your inbox with useless data. And remember, we curate and create this content for you, so please reach out any time if there’s something you want to know more about or topics you’re interested in – we’ll do the legwork, you just sit back and enjoy the content!
Colorado Real Estate Market
$5,000 Buyer Incentive Prior to Auction Sale: 1117 Willow Bend Cir #4 Colorado Springs CO 80918
Location: Dublin Manor Condos, 1117 Willow Bend Cir, #4, Colorado Springs, CO 80918 El Paso County
Auction-Reserve Sale: Reserve Price $230,000. Worldbid Auction December 7th 2023 Noon via sealed bid. Pre-Auction offers are accepted with any contingencies up to November 27th 2023 Noon Mountain Time. Auction day bids are non-contingent. If you submit a Pre Auction offer, seller will provide buyer a credit of $5,000 at close of escrow, if buyer submits Pre Auction offer no later than November 27th 2023 and buyer ‘s offer is accepted by the seller and buyer closes escrow no later than November 27th 2023. No exceptions to the date deadlines will be allowed. A 3% buyer’s premium must be added to your offer. Auction day bidding, Buyer’s may obtain financing, though is not a contingency. Proof of funds to close, approval letter, a $3,000 registration deposit is required with your auction day bid. You may conduct your inspections anytime.
Additional Auction Info: https://premiereestates.com/1117-willow-bend-circle-unit-b-colorado-springs-co-80918/
Property Info: https://www.peakdream.com/homes-for-sale-details/1117-WILLOW-BEND-CIRCLE-B-COLORADO-SPRINGS-CO-80918/3515125/68/
Contact the Listing Agent: https://www.peakdream.com/agent-detail/Toby-Lorenc/123657/
Unlocking Affordable Dreams: Financing Your Home with Buyer Incentives and Builder’s Interest Rates
Purchasing a home is a significant milestone, often accompanied by a mixture of excitement and financial concerns, especially in a market like this with higher interest rates than most buyers are used to. Thankfully, there are various strategies and incentives available to make the dream of homeownership a bit more accessible. Among these, two notable options stand out: buyer incentives from lenders and lower interest rates offered by builders. Let us help shed some light on how these strategies can help you secure your dream home without straining your financial resources.
Lender’s Buyer Incentives: A Helping Hand
The path to homeownership is paved with expenses beyond the down payment. Closing costs, property taxes, and insurance premiums can quickly add up, leaving many potential homeowners worried about how to manage these additional financial burdens. This is where lender-offered buyer incentives step in.
Imagine a scenario where a lender provides a buyer incentive. Our partnerships with local lenders give us access to programs that can help with your down-payment when using a specific mortgage lender. This can be a game-changer, as it directly reduces the amount of money you need to bring to the table. Such incentives can often be applied towards closing costs, effectively lightening the financial load at a critical juncture in the home-buying process.
Buyer incentives serve as an attractive proposition for both first-time buyers and those looking to upgrade. They can provide some much-needed breathing room by offsetting expenses that might otherwise deter potential homeowners from taking the plunge. As you consider lenders, inquire about these incentives, as they can play a pivotal role in making homeownership more affordable and achievable.
Builder’s Lower Interest Rates: Building Affordability into Every Payment
In a competitive housing market, builders are constantly seeking ways to attract buyers and stand out from the crowd. One effective strategy employed by builders is offering lower interest rates on financing. This approach has the potential to significantly impact your monthly mortgage payments, making your new home more budget-friendly over the long term. We’ve seen builders offering below 5% for 30 years, while most rates are above 7% for the typical loan.
A lower interest rate might seem like a small adjustment, but it can have a substantial cumulative effect. Over the life of a mortgage, even a fractional reduction in the interest rate can translate into thousands of dollars in savings. This can mean the difference between a manageable monthly payment and one that stretches your budget to its limits.
Builders are motivated to offer these advantageous rates to entice buyers and expedite the sale of properties. As a homebuyer, it’s essential to explore these options, understand the implications of different interest rates, and assess how they align with your financial goals.
Making Informed Decisions: What to Consider
While both lender incentives and builder-offered lower interest rates can ease the financial burden of homeownership, it’s crucial to approach these opportunities with a clear understanding of the bigger picture.
- Long-Term Implications: Assess the potential long-term impact of lower interest rates and buyer incentives. A small upfront incentive might be appealing, but a higher interest rate over the life of the loan could negate the initial benefit.
- Comparative Analysis: Always compare multiple offers from different lenders and builders. Don’t rush into a decision; take your time to evaluate all the options available to you.
- Qualification Criteria: Remember that not everyone may qualify for the advertised rates or incentives. Your credit score, financial history, and other factors will influence the terms you’re offered.
- Budget Planning: While lower interest rates and incentives can make homeownership more affordable, ensure that you are comfortable with the overall financial commitment that comes with owning a home.
Financing a home has become a more flexible and buyer-friendly process with the advent of buyer incentives and builder-offered lower interest rates. These strategies can help you step through the doorway of your dream home without straining your financial resources. However, it’s essential to approach these options with careful consideration, research, and a focus on your long-term financial well-being. We would love to help guide you through this process. By making informed decisions, you can confidently embark on your homeownership journey and turn your aspirations into a comfortable and affordable reality.
Berkshire Hathaway Welcomes Rachelle Dettner As Our Newest Broker Associate in Fremont County
Berkshire Hathaway HomeServices Rocky Mountain REALTORS® is pleased to welcome our newest Broker Associate, Rachelle Dettner!
Rachelle has been in Colorado for years and lives in Fremont County so her knowledge and community connections are already established. She’ll be based out of the Cañon City, CO office located at 417 Main St, Cañon City, CO 81212.
“We’re excited to welcome Rachelle as we serve this growing community. She brings a great amount of energy and excitement for this role. I know there’s going to be a lot of buyers and sellers in this area who will be grateful to be taken care of by Rachelle in the coming years,” said Wayne Jennings, owner of Berkshire Hathaway HomeServices Rocky Mountain REALTORS® in Cañon City, Florence, and Downtown Colorado Springs.
Learn more about Rachelle and connect with her on social media at https://www.peakdream.com/agent-detail/Rachelle-Dettner/183568/
Colorado Real Estate News – November 2021
Read the latest newsletter from Berkshire Hathaway HomeServices Rocky Mountain Realtors in Colorado Springs. BHHSRMR keeps you updated on market stats, Downtown news and events, plus helpful homebuyer and home seller tips. In this edition, you’ll find an invite to our Downtown Holiday Party, plus understanding your home warranty.
Unique Properties in Colorado You Can Buy Now
Historic Home
Original Fireplace and Hardwood Floors Retro Kitchen Upper Apartment With Mountain Views
1003 E Boulder St, Colorado Springs, CO 80903 A charming historic home near downtown Colorado Springs has been in the same family for 83 years, three generations in the family. When they purchased it in 1937, it was being used as a boarding house and over the years they crafted it to meet their family’s needs. As Colorado Springs grew rapidly in the mid 1900’s, there was need for additional housing with the influx of soldiers at the local army base. This unique home on Boulder St is just a mile from the heart of downtown and was a perfect location for a rental property. So, the owners closed of the upstairs from the inside of the home and created an exterior entrance to the 3 bedrooms, full kitchen and bathroom on the upper level to use it as a rental. Throughout the years, they’ve kept the original character and charm by maintaining and preserving this unique property, which still has most of the original hardware, wood trim, solid wood pocket doors, and hardwood flooring. | MLS # 6031664, 3258 sq ft. Listed at $650,000 http://1003-e-boulder-street.htour4u.com/
Former Safeway Grocery Store on Historic Site in Florence, CO
111 Church Ave, Florence, CO 81226 Located in Fremont County, this building has some significant history in the City of Florence (known as the Antique Capital of Colorado), but more significant is the site it’s located. Before this building was constructed in 1960, the area was a railroad freight yard and interchange for trains for the Florence & Cripple Creek Railroad. After changing hands in ownership, the current building was built as a Safeway grocery store which closed in the 1980’s. The property now houses a large antique store (Willie’s Antiques and Collectables) which also has an attached residence in the back of the store. The residential suite allows the owners to work and live in the same location, and includes a nicely appointed condo with all the amenities like granite countertops and wood floors, in-unit washer and dryer, and a covered porch outside. It’s a prime location for retail, at the end of Main Street right along a popular highway that connects the larger Canon City to Florence. | MLS # 5547826, 8007 sq ft. Listed at $799,500 http://111-church-avenue.htour4u.com/
Main Street Retail Store with Residential Loft Living Above
122 E Main Street, Florence, CO 81226 This work-live concept is a great opportunity to have a prime location for your store or business, plus zero commute to work and the opportunity to live on Main Street in downtown. Located within steps of excellent local restaurants, antique stores, coffee shops and even a bowling alley. The loft above includes 2 bedrooms and 2 bathrooms and about 1200 sq ft of living space, similar to the retail space below. Plus, there’s some great history in this building from 1895, which can be found by contacting the local historic society at the Florence Pioneer Museum and Research Center. You can even have your friend open their business next door and be neighbors, as 124 E Main St is also on the market. | MLS # 1542045, 2580 sq ft. Listed at $430,000 http://122-e-main-street.htour4u.com/
Defunct Golf Course in Canon City
1232 County Road 143, Canon City, CO 81212 Ask a local Fremont County resident and most will remember the Shadow Hills Golf Course. Once a community meeting place and destination for an afternoon in the sunshine playing golf and drinks at the clubhouse, this former golf course is now for sale. Despite the empty pool and overgrown course, there are still signs of the memories and reminders of the opportunity in such an investment. The game room and bar still host pool and ping pong tables, with many of the commercial furnishings still on-site. Plus, the mountain views off the balcony and through the large picture windows in the 10,000 square foot club house keeps investors dreaming about what to do with the 197-acre property. Perhaps a future home community or keeping the grounds commercial as an event center? The location is ideal for easy access to recreation and popular destinations like the City of Florence (known as the Antique Capital of Colorado), and some of the top tourist attractions like Royal Gorge Bridge and Park. There are some many options for how to use this property in the future, but locals will never forget the great memories here. | MLS # 63952 Listed at $2,800,000 https://www.peakdream.com/homes-for-sale-details/1232-CR-143-CANON-CITY-CO-81212/63952/468/
Average Sales Price Hits the $400,000 Mark in Colorado Springs Single Family Homes
Despite the curveball of COVID-19, the real estate market continues to thrive. We’re still experiencing a sellers market, often with multiple offers exceeding list price within a few weeks of listing a home. Prices are up and the number of homes sold is still ahead of where we were at this time last year. However, we’re still dealing with the low inventory challenge: simply not having enough homes on the market for the number of buyers that are ready to buy.
Some things have changed regarding getting qualified to buy a home, but typically if you’re back working again with a regular income, there are programs available. Plus, with the incredibly low interest rates, it’s a great time to take advantage of buying a primary residence or investment property. Now’s the time to make a move to take advantage of quickly increasing prices. Consider this: Five years ago in June 2015, the average sale price was just over $279,000. As of this June, we’ve exceeded $400,000.
1310 E Columbia St Colorado Springs CO 80909 For Sale
Just blocks from Patty Jewett Golf Course and minutes from Downtown
Large Lot Hardwood Historic Landscaped Renovated New Carpet Location, Location
1310 E Columbia captures the character and charm of Golf Club Acres neighborhood, blended with convenience to prime Colorado Springs hotspots.
Complete with 4 bedrooms, 2 bathrooms and 1752 square feet of living space this 1953 home sits on a flat usable lot just blocks from Patty Jewett Golf Course. Plus, the 2+ car heated garage is perfect for all your toys and even room for a large workshop, motorcycles or storage.
Relax in the fully fenced backyard, ideal for enjoying Colorado nights around a firepit or lounging in the sunshine during the warm days. This house will be the best option when it comes to summer barbecues, with easy access to the kitchen right off the large deck.
Inside, thoughtful updates have been made to the areas you live in most: a newly renovated kitchen with stainless steel appliances, granite countertops, and hardwood flooring. Enjoy the air conditioning throughout the home, and an upgraded main level bathroom. Cruise around on the original hardwood flooring as you make your way through to the basement. Brand new carpet throughout the lower level and a perfect space for guests which includes a bedroom, bathroom, living area and kitchenette.
Upgrades and amenities both inside and out will make this your spot, but perhaps the best part is the spot on the map. Located just blocks from Patty Jewett Golf Course and easy access to plenty of recreation in parks like Palmer Park and trails for biking and fitness. You can easily jump into Downtown Colorado Springs for a night out of entertainment, or hit up your favorite restaurants just around the corner like historic BJ’s Velvet Freeze and Leon Gessi Pizza.
See all the photos and more at https://www.peakdream.com/homes-for-sale-details/1310-E-COLUMBIA-STREET-COLORADO-SPRINGS-CO-80909/2533474/68/
Listed by Toby Lorenc Berkshire Hathaway HomeServices Rocky Mountain Realtors. Pikes Peak MLS # 2533474
5 Neighborhoods Near UCCS
University of Colorado at Colorado Springs (also known as UCCS and CU the Springs) has a long history in Colorado Springs. As it continues to grow, more students and faculty are searching for housing, ideally within a few miles of the University. The 5 surrounding neighborhoods all offer different amenities, atmosphere, and price points to support a growing college.
Cragmoor
The Cragmoor area (which includes neighborhoods like Cragmoor Heights) begins directly across the street from UCCS and stretches east towards Nevada Ave. Many homes in this neighborhood are in walking distance from the college, and a mix of rental properties, duplexes and single family homes. These moderately priced homes sell below the cities average sale price and many were built in the mid-50’s. Mature trees and wide streets plus easy access to plenty of amenities like University Village Shopping Center and restaurants. Plus, homes were appreciating around 13% in 2018 so owners were enjoying equity, whether the home was used as a rental for college students or a primary residence.
Eagle Rock
The Eagle Rock neighborhood was hidden and unknown for many years tucked away in the foothills against the college and Pulpit Rock. Access was limited and roads simply ended in the neighborhood. However, since the explosive expansion of the college, it’s now a busier area surrounded by new University buildings were there was previously only open space. In fact, a road paved in 2019 runs through the Eagle Rock neighborhood, now connecting the Ent Center for the Arts to the rest of the campus. Homes don’t often come up for sale in this area, and are typically above average home prices for the rest of Colorado Springs as lot sizes tend to be larger and more homes are custom built.
Pulpit Rock
Just North of the college surrounding Pulpit Rock Open Space, this neighborhood combines mountain views, access to recreation, easy access to Interstate 25 and a variety of living options. Condos and townhomes like Dublin Manor at Willow Bend line the edges with more affordable living, while larger homes up on the hill boast of nearly 360 degree views and natural surroundings.
University Park
If you’re looking for a central location and mountain views, you’ll be pleasantly surprised in this neighborhood. Built into the hills just above UCCS and Austin Bluffs Open Space, you’ll feel like you’re in a small mountain community. Home prices are above average for the Colorado Springs area and the higher up you get into University Park, home prices and lot sizes typically increase….but do do the mountain views! Probably the most likely neighborhood to find mountain lions, the University’s mascot.
Garden Ranch
Just off the N Academy corridor, close to restaurants, services, entertainment and shopping. Much of the Garden Ranch area are 70’s built homes, including ranch, bi-level and tri-level floor plans. Perhaps the best feature of this District 11 community is the proximity to open space and recreation in Palmer Park. Despite the convenient location to north Colorado Springs, it’s probably the furthest of the 5 from campus.
“Sell My House Fast” Colorado Springs
When our clients say Sell My House Fast Colorado Springs Realtors at Berkshire Hathaway jump to the opportunity and challenge. Our team of experienced real estate agents engage intentional, direct and effective marketing tactics immediately. The specifics might bore you, but the results are what you’ll talk about for years when your home is sold as quickly as some of these.
320 Childe Dr, Colorado Springs, CO 80906
This was perhaps one of the most impressive homes we’ve had the privileged to market and sell. Granted, the absolutely breathtaking views and updated fixtures and amenities helped sell this custom Broadmoor home. But typically, a home in this price range (this home was listed for $799,000) stays on the market for an average of 9 months. With an average price point just above $350,000 for single family homes, this beautiful home in southwest Colorado Springs would typically be expected to have slower showing activity and longer days on market. However, this home was under contract in less than 24 hours with multiple showings and competitive offers that exceeded list price. Real estate agent Wayne Jennings represented the sellers and was able to provide the marketing exposure and tap into the niche buyer group that had been searching for this type of house. Consequently, when it hit the market in April 2019, it was a quick turnaround and huge celebration for the sellers.
230 E Main St, Florence, CO 81226
Just outside of Colorado Springs to the southwest is the quaint town of Florence, CO. It’s been a tourist destination for years, as the town has rightfully claimed the label, “Antique Capital of Colorado” due to the solid option of antique stores along Main Street. With a lower altitude and warmer climate that Colorado Springs, plus a homey small town community, Colorado natives and out-of-state residents are flocking here to vacation, invest, and live. So, a newly renovated single family home on Main Street within walking distance of Florence restaurants, shopping and entertainment has a strong appeal. In fact, many are waiting to jump on an opportunity like this, especially while home prices are still reasonable. That’s exactly what happened at 230 E Main St the day it went on the market. After years of renovations and hard work, the seller made what was an eyesore along Main into a luxurious residence that anyone would love to call home. Buyers quickly set up private showings and the home was under contract within 24 hours.
4988 Old Fountain Blvd, Colorado Springs, CO 80916
Homes all over Colorado Springs are represented by our agents and selling in 24 hours or less! We sell in every area, every price range. With 76% of the sales in the Colorado Springs area in the $200,000-$400,000 price range, there’s a lot of competition among buyers. It’s definitely a seller’s market in this bracket of sales (meaning the seller has the advantage and more power in negotiations, etc) and we saw that on 4988 Old Fountain Blvd. This ranch-style home has a lot of great curb appeal, plus extras like a spacious sunroom and patio, and RV parking on the side of the home. When a homeowner says Sell My House Fast, Colorado Springs real estate market still has it’s challenges in accomplishing this goal. The real estate agent has to be thoughtful of pricing the home correctly, marketing and promoting the right features, and putting it on buyer’s radar before there’s even a sign in the yard. Realtor Marion Meyer nailed it on this one, making sure that her colleagues, potential buyers and other key industry contacts knew this listing was coming soon. Thanks to her thoughtful and intentional homeselling tactics, it’s another case of 24 hours of showings ending in a solid contract for the seller.
Just say the words, “Sell My House Fast Colorado Springs!” When you’re ready to move, so are we. Certainly, we can’t guarantee that your home will sell as quickly as these examples, but we do promise to give you and your home our attention and expertise so that we can sell it as quickly as possible.
Peak Dream: Berkshire Hathaway Rocky Mountain Realtors Colorado Springs
216 N Tejon Street Colorado Springs, CO 80903
(719) 602-8836