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.
Colorado Real Estate Market
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/
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.
Just blocks from Patty Jewett Golf Course and minutes from Downtown
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
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.
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.
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.
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.
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.
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.
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.
Come see this amazing, new home in Colorado (Fremont County)! Located in the quaint town of Florence, CO, this ranch style home at 120 Rose Drive will be open this weekend, Saturday April 20th, from 10:00AM – 3:00PM. Be one of the first to see the beautiful finishes and fixtures throughout the home. Amenities include hardwood flooring, vaulted ceilings, granite countertops, stainless steel appliances, and much more. All located within walking distance of downtown Florence, CO the Antique Capital Of Colorado!
The PeakDream Group at Berkshire Hathaway HomeServices Rocky Mountain Realtors has been working hard and with summer right around the corner, sellers are pulling the trigger and getting their homes on the market. Check out these 3 new listings, coming soon to the market in the Colorado Springs area.
611 Hilltop Drive, Colorado Springs, CO 80905 $233,000
Cute, ranch style home in Ivywild area (specifically in the Foothills neighborhood) would be a perfect rental property or ideal as a primary residence. The location is stellar, just up from Ivywild School, a hotspot for music and events which includes a brewery, distillery, and bar. This home includes 2 bedrooms, 1 bathroom, a large 2-car attached garage plus a carport, storage shed, RV parking & deck with a relaxing hot tub. Easy care wood laminate flooring in the main living area and carpeted bedrooms. Walking distance to Bear Creek Park for nature hikes, dog walking, or bike riding. Just minutes from Downtown Colorado Springs. For more details contact Southern Colorado Realtor Marion Meyer
320 Childe Drive, Colorado Springs, CO 80906 $799,000
Your castle above the city in Broadmoor Hills Park. This home boasts of amazing views all up and down the Front Range, including breathtaking landmarks like Garden of the Gods. Enjoy the Colorado days and nights on the custom deck, complete with outdoor kitchen and built-in grill. When dinner is over, relax in your warm hot tub and marvel at the starry night. Plus, you’ll be right at home with the stunning interior with high vaulted ceilings, wood floors, and luxurious working, living, and playing spaces. Perfect for a quiet night at home in your personal theater, or reading your favorite book in one of the many rooms spread out over 5,182 square feet. Complete with 4 bedrooms, 4 bathrooms, and plenty of character. For more information, contact a favorite local Realtor, Wayne Jennings
4134 Anitra Cir, Colorado Springs, CO 80918 $300,000
Step out your door and you’re within walking distance from some of Colorado Springs’ Hot Spots, like University of Colorado at Colorado Springs or the outdoor experience of Palmer Park Open Space. Convenient location near parks, schools, golf courses and more in this 2,200+ square foot home in the Garden Ranch neighborhood. Versatile floor plan perfect for primary residence or an investment property in Colorado, with 3 bedrooms, 3 bathrooms and a 2 car garage. For more information, your experienced real estate agent is ready to help
Colorado real estate is diverse and unique, and the options are endless when you’re looking for an investment, primary residence, commercial property or even vacant land. Take a look at these unique Colorado properties that all have a unique real estate history and future.
Mobile Home Park Restored to Mid-Century Glory
In the small town of Canon City, CO you’ll find the magnificent results of creativity in real estate. The Rosedale mobile home park sits on about 0.70 acres and includes 5 mobile homes, but there’s a twist.
Remember the Sears catalog colors like mint green, sea-foam, and cherry pink that often inspired the decor throughout homes? These popular mid-century colors were used in bathroom sinks, toilets, bathtubs, countertops, and even exterior house paint.
This creative owner decided to purchase used mobile homes and renovate them to their former mid-century glory. He purposefully uses as many original period pieces as possible, from countertops to wood paneling on the interior walls. Even the decor and furniture matches the era. The team of renovators (including the owner) have made the old feel new again.
Plus, his business plan was obviously successful, with extremely high occupancy of renters. From traveling nurses to VRBO and AirBnB guests, many have enjoyed this creative twist on retro. And the vintage theme fits right in to its surroundings, ironically located right next to the Antique Capital of Colorado.
The property is currently available for sale, including all 5 mobile homes and the land for less than $400,000: https://www.peakdream.com/homes-for-sale-details/1535-ROSEDALE-LANE-CANON-CITY-CO-81212/56853/468/
Antique Store with Living Options, Retail Space, and More
In the Central Historic Business District in Downtown Florence, CO the old Vendetti’s Building has housed many businesses over the years dating back to 1922 when it was built. Currently, the multi-use building is home to Salvage, Antiques, Vintage, Etc., one of the favorite antique stores along Main Street (State Hightway 115). Now, the owner is ready to sell, providing a huge opportunity for the right buyer.
First of all, let’s look at a real estate term: Mixed Use Building. This means the zoning has been labeled as a live/work space and is available both as a commercial property, but also with the option of adding the residential element. Whether you’re planning on continuing to run the antique business, or using the space for your own purposes, there are multiple advantages and features on this property that make it very flexible.
The front retail space includes large windows, two separate shop spaces, and private parking immediately in front of the store. Plus, there’s a small adjacent lot that is vacant and ready for creative ideas, additional buildings, etc. which is also included real estate.
Also, in front is a garage door which leads into the large warehouse space in the back of the building. This enormous space (which can also be accessed by a rear garage door loading area) includes 2-story tall ceilings, plus an unfinished loft space which could be a potential residential living space after converted.
Best of all, the location is key in the gorgeous town of Florence, CO the Antique Capital of Colorado. The bustling downtown includes excellent restaurants and shops, and recreation is just around the corner on the Arkansas River, Pathfinder Park, and other amenities. Tourist often pass through to shop, or en route to major attractions like Royal Gorge Bride and Park.
This Colorado property is currently for sale under $400,000. More details and property photos are available at https://www.peakdream.com/homes-for-sale-details/208-W-MAIN-STREET-FLORENCE-CO-81226/60153/468/
Are These Mortgage Interest Rates Low?
Mortgage interest rates are at historic lows, despite the slight climb in 2018. Although we’ve seen rates increase a bit over the past year, this chart is a reminder of how spoiled homebuyers have been, especially over the last few years. In the last quarter of 2018, we’ve seen rates gradually increase 2 to 3 tenths of a point each month. Even with the rates increasing more than 1 point during calendar year of 2018, be thankful that you are not paying the 18% or more that buyers were burdened with around the early 1980’s.
Is It Better To Wait Until Rates Go Down Again?
Also, it’s important to look at the trend for the last five years. Although there are some ups and downs, rates are gradually increasing. It’s a great time to talk to your favorite real estate agent about purchasing a home. Whether you are a Springs transferred military buyer considering using your VA benefits or a first-time buyer looking to get a conventional 30-year or 15-year loan, the past 5 years have shown us overall that the more time that passes, the more you will pay for the loan. Right now, people who were thinking of buying a home 5 years ago are kicking themselves for not taking advantage of those low rates. Thankfully, they still have the option of homeownership with the advantage of securing some of the lowest interest rates over the last 45 years.
What If Interest Rates Go Back Up?
Talk to your agent and mortgage broker about locking in your rate so you secure the lowest possible mortgage interest rate without fear of it increasing during your contract period. We know this stuff can be confusing, but that’s why we’re here: to provide direction, advice and even professional hand holding for your next real estate transaction.
These enticing rates along with home sales slowing in the last quarter provide the perfect recipe for buying a home, condo, or townhome.
Other Articles You Might Like: