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!
News
$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/
Trees of Joy Event Provides Free Christmas Trees to Needy Families in Fremont County, Thanks to Local Sponsors
Event Details
Where: 232 E Main St, Florence, CO (Berkshire Hathaway Office)
When: Sunday December 3rd, 3pm-7pm
Cost: Free to Families and Individuals in Need (Sponsors Needed)
Facebook Invite: https://www.facebook.com/events/293404650289162/
Community Event Brings Christmas To Everyone Regardless of Financial Difficulties
The Annual Trees of Joy event is happening again, this time on December 3rd from 3:00pm-7:00pm at the Berkshire Hathaway HomeServices Rocky Mountain REALTORS® office in Florence, Colorado.
Anyone in the Fremont County community can come by and get a free Christmas tree, visit Santa, and enjoy light refreshments. There’s no qualification or questioning involved, it’s just based on the family or individual’s discretion of need. We want everyone who feels like they can’t afford the luxury of a Christmas tree to be our guest in taking one home for the Christmas season.
Sponsors Needed for Trees of Joy
This event is made possible by our generous sponsors, including True Value Hardware of Cañon City, Jim Braverman and Patty Galceran of 719 Lending, and Berkshire Hathaway Rocky Mountain Realtors.
If you or your company is interested in sponsoring a tree for a family, it’s $55 per tree which provides a beautiful Christmas tree, tree stand, and ornament with the sponsors name.
For more information about the event: (719) 431-6903
For media requests please contact (719) 661-1613
Container Homes Being Sold as Multi-Unit Industrial Hotel in Florence Colorado
Three tiny homes, labeled as the Industrial Hotel, were created from shipping containers and recycled materials. Now, they are for sale in Colorado as well as the 0.5 acres of land where they sit.
When these Colorado developers set out to create a solution for affordable housing in Colorado, little did they know where it would lead. They created these extremely unique tiny homes, made from shipping containers and recycled materials from various sites throughout the state, like the historic Florence High School.
You’ll find innovate and sustainable finishes while still providing modern conveniences. Metal first aide boxes / fire blanket boxes recovered from Florence High School are now medicine cabinets in the tiny house bathroom. Some of the trim, ceiling boards, and walls are collections of rescued and repurposed barn wood from a Main Street building in Cañon City, Colorado. Even the interior décor highlights the best of mid-century modern design with eye-catching pieces like salvaged private jet seats.
Whether you’re looking for an investment opportunity to continue VRBO rentals, or a multi-family living arrangement, the Industrial Hotel will provide and conversation piece and continue to get national media.
For more information on these container homes, please contact Wayne Jennings at Berkshire Hathaway HomeServices Rocky Mountain REALTORS® and reference MLS # 67137.
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.
Expected Costs When Buying a Home
If you’re on the way to purchasing a home and debating your financial situation, let’s look at some of the costs you should expect once you get under contract. This may help you determine if it’s the right time for you to buy or find other sources to help pay for the upfront costs associated with purchasing a house.
Earnest Money Deposit: Your First Out-of-Pocket Cost
Once you start the process of submitting an offer on a home, there are out-of-pocket expenses that you’ll have to be ready for immediately. The earnest money deposit is typically about 1% of the purchase price in the Colorado real estate market, so on a $400,000 home you should expect needing $4,000 in a bank account with immediate access to the money (check, wire, cashier’s check, etc). Although the contract allows for this deposit to be made after the offer is accepted, it’s typical that the seller will want your funds in an account within a few days of a signed contract (usually held at a title company or real estate office in an escrow account). The good news is, this money is truly a deposit and as long as you meet your deadlines and eventually close, you can apply these funds towards your downpayment or other closing costs. In other words, you’ll potentially get the money back but you’ll need the funds available to deposit at the time of your accepted contract.
Home Inspection: It’s More than Just a One Day Event
Your due diligence and inspection period allows for you to do inspections of any kind on the property as long as you’re not negatively altering or damaging the property. This means not only can you do a typical home inspection (in which you hired a home inspector to do an inspection of systems, mechanicals, exterior and interior condition, etc), you can hire contractors for specific issues and inspections. For instance, you may want to have the sewer line scoped, engineering reports of the structural integrity, or substance testing for things like mold or presence of drug residue. Depending on the home inspection company, they can often do testing for things like radon gas levels but there is usually an additional charge. Currently, rates for a home inspection vary depending on the size, age, and other factors of the house, but expect about $400-$500 and then additional items like radon gas and sewer line scoping will run another $150+ each. So, this “inspection amount” can change dramatically based on your concerns and curiosities as a buyer, but it’s not hard to reach nearly $1,000 just for basic inspections. And keep in mind, these contractors and inspectors are paid when the service is rendered so it is a direct out-of-pocket cost while you’re under contract. Also, there are other things that won’t necessarily cost you money but you should definitely consider researching as part of your home inspection period.
Property Survey or Improvement Location Certificate (ILC)
It’s possible that either the lender or title company may require a land survey or ILC. Typically, these are due at time of service and estimated starting cost would be $800+ for this type of service. Usually if the home is in a neighborhood with lot and block, this won’t be a required item. However, during your contract period, you can certainly choose to do this yourself so you are aware of the property boundaries, especially if you’re considering building a new structure, putting up fencing, or expanding the current home.
Downpayment on Your Loan
When you first start the process of searching for a home, you’ll talk with a lender about getting a loan to help pay for the purchase (unless you’re buying with cash). The lender will help find the best type of loan for your situation and qualifications (VA, FHA, Conventional, Jumbo, USDA, etc) and unless you have VA benefits from the military, your loan will probably have a minimum of 3.5% down (FHA) but probably more like 5% down (or more). Based on the type of loan, intended use of property, and other factors this can be 20-25% down. So, with a purchase price of $400,000 you could be looking at $100,000 as a down payment for the loan, and you’ll still have closing costs in addition to that amount. More money down can also reduce your monthly payments, decrease your interest rate, and waive the need for mortgage insurance. Make sure you talk with an experienced real estate agent and your mortgage lender to make sure you understand the entire package and what your monthly payment will be with principle, interest, taxes and insurance (PITI).
Closing Costs
Depending on your offer, a portion or all of your closing costs can be paid for by the seller. However, it’s not as typical in a seller’s market as it directly affects their bottom line. So, assuming your paying your own closing costs this will be a collection of fees at closing in addition to your purchase price and loan downpayment, minus any credits you’re receiving. Closing costs include a variety of processing and document fees, lender escrowing funds for things like homeowners insurance and property taxes, appraisal fees, title company fees, recording and document fees, and any administrative fees charged from the real estate company.
Moving Into Your Home
Keep in mind, these expenses aren’t accounting for the setup of your new home, including things like buying furniture, doing landscaping, basement finishes, interior paint and flooring, or simply maintenance issues that might have come up during your inspection. If you can, start putting money away in a separate bank account as an maintenance fund to pay for large expenses like replacing a roof, driveway, exterior painting, tree removal, flooring updates, etc. Ask your agent first when doing these type of updates to help discover if there are ways to save money and for a list of recommended companies.
Sell Your Home Virtually With Berkshire Hathaway Realtors®
The process of selling your home doesn’t have to put your health at risk! We can easily do a majority of necessary activities virtually to get your home sold and you moving to the next phase in life.
Virtual Listing Appointment
We’re set up across multiple systems to help talk you through the process of selling. Whether it’s a quick phone call or a virtually meeting on Zoom, we are here to answer all your questions about selling your Colorado home.
Virtual Open Houses and Showings
As a full service real estate company, we have secured and contracted technology partners that allow us to show your home to potential buyers without putting them or you at risk. From virtual video walk throughs to step-by-step self guided virtual tours with ability to see 360 degrees in any room, we will help coordinate safe and efficient alternatives to traditional old school marketing techniques like open houses.
Virtual Walk-Through and Prep with Social Distancing
You’ll still get our professional advice and recommendations about things to do before listing your home. A virtual walk through will help us indentify and define what needs to be done to make your home the most marketable.
Virtual Meetings, Electronic Negotiations, Contracts and Signatures
Whether you’re across town or across the world, our real estate specific technology for sending, signing, and presenting contracts is easy-to-use software that requires no downloads or additional software. It can be used on any device including laptops, desktops, tablets and smart phones. You’ll have our full dedication to helping you understand all contracts and offers, plus the same diligence in getting you the best price for your home.
Virtual Closing
Our partners at title companies and mortgage lenders allow us to keep final paperwork organized and efficient with electronic signatures, and virtual closing exceptions which can allow for authorization of video notary depending on circumstances. We’re also able to email the final paperwork which often only requires a notary on a few pages, then we make it easy with a printable return label to overnight your completed paperwork.
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