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 Springs Real Estate
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.
‘Tis the season to find the perfect home, and save money with the recent price drop at 9629 Beryl Drive, Peyton, CO 80831 – now only $399,900, a $20,000 decrease!
Take a look at this fantastic house with views of the popular Antler Creek Golf Course and the calming lake just out the back door. Not only does this provide a peaceful setting, it also means you have privacy because there’s no neighbor behind your home!
Inside this home, built by Richmond Homes in 2009, you’ll find plenty of room to spread out and relax with a total square footage of 4,379! This classic two-story provides separation from bedrooms and living areas, with 4 bedrooms upstairs and an additional bedroom in the finished basement for a total of five bedrooms and 4 bathrooms.
Plus, speaking of spreading out, you’ll have room for all the toys with the over-sized 3-car garage. Whether you have multiple cars, need extra space to store household items, or want to set up the perfect shop and tool bench, this garage will easily meet most homeowners needs.
With low monthly HOA dues, which included access to the YMCA and water use (up to 5,000 gallons), the neighborhood location and amenities are the perfect give to anyone.
Additional amenities include central air, large bedrooms, attached master 5-piece bathroom, landscaping, sprinkler and drip systems, and low maintenance stucco exterior.
Come see all the features in this Peyton home during the open house on Sunday, DEC 17 from 1:00pm-3:00pm!
Our agents are hard at work and haven’t seen much of a slow down, which we typically would this time of year. But we are still seeing homes going under contract quickly, especially in the $450,000 or less price range.
Recently, after 11 days on the market, 1924 Berkshire Ln went under contract. We had competing offers and now have a signed contract over list price. This is the ideal situation for a seller, when buyer’s are literally fighting over the seller’s property.
Remember too, that although many homes are going under contract the same day, they are listed or within a few days, our average days on market in the Colorado Springs area is currently 29 days on market. Even 11 days is still less than the average and makes for a happy seller.
Now, the process begins of going through the contract deadlines and the buyer’s opportunity to do an inspection, appraisal and look through important documents and information which allows them to make sure this is the exact property they want. Everything from confirming they can get homeowners insurance for the home, to the process of inspecting the home for any major defects or safety issues.
Truth be told, the Colorado Real Estate contract is definitely written in favor of the buyer. It gives you the the ability to set up multiple deadlines and opportunities to gather information and due diligence to check just about any resources that may influence your decision to buy a home and get a loan that’s satisfactory. That’s a great thing for you as a buyer! Talk to your favorite real estate agent for more details about your rights and opportunities as a homebuyer.
We’ll keep you update on that status of this property, plus you can always use our website to search and find the perfect home for you.
3485 Flying Horse Rd, Colorado Springs, CO 80922
Our team is hard at work again with another new Colorado Springs property for sale. 3485 Flying Horse Rd is a home in Springs Ranch, well equipped and thoroughly upgraded with hardwood floors, security system, air conditioning, auto sprinkler system, a large fenced backyard, plus a new roof and fresh paint.
Q: What are the basic stats of the home?
A: This is a single family home with 4 bedrooms, 4 bathrooms, a 3 car garage and a total of 2038 square feet. It is the Charleston model, built by Classic Homes in 1997. Click here to see the El Paso County property information..
Q: Where is the home located?
A: Conveniently located just off the Powers corridor on the east side of Colorado Springs, you’ll have access to a wide selection of shopping, restaurants, entertainment, and top notch D49 schools.
Q: Why is this home a good investment?
A: This area of Colorado Springs continues to grow and appreciate quickly, with high demand for more housing. Whether you’re looking for a primary residence, a property to invest in as a rental property, VRBO, or a vacation home you’ll see additional value almost instantly.
Q: How can I set up a showing of 3485 Flying Horse Rd?
A: Contact the listing agent Marion Meyer for more information or to request a showing.
Sometimes you come across a home that makes you take a moment just to enjoy the beauty and quality. It’s nothing more than materials but they’ve been put together to form emotions and create a feeling of pure solitude. 319 W Cheyenne Rd captures your senses and pings your artistic vibes as you step into a piece of history. Built in the late 1800’s this spacious Victorian-style home includes over 5,000 square feet of space, 4 bedrooms and 3 bathrooms. The current owners took on the major project of not only renovation, but building on an addition to the house in 2014 to provide more square footage.
The original wood trim pops with the brilliant white against versatile colored walls, and the shine of antique wood floors brightens every room. Even the renovated master suite oozes character and charm, like it was designed as part of the original structure. Unique ceiling lines and custom windows encase the life that has been lived in this historic home and yet leave room for the future memories and changes. The wide open Windsor windows and doors to the master suite patio provide a cool breeze, while opening the home to sounds of Cheyenne Creek (which this subarea was named after). The large 40 x 30 rooftop deck allows you to soak in the sun while enjoying the breathtaking views of Cheyenne Mountain.
On the main level, the well-appointed kitchen will serve as the ideal place to entertain guests while providing practical amenities like Dacor appliances, Six burner gas stove with down draft, dishwasher with double doors, sliding microwave drawer and warming drawer. Extra space on the south end of the home makes the ideal game room or theater. And at the north end of this historic Colorado Springs home, you’ll find privacy and seclusion for a studio, office or private living quarters.
Southern Colorado’s housing market is firecracker hot this summer, even as home prices continue to rise at a much faster pace then the rest of the country. The average home price in El Paso County now tops $326,000, a 10.6% jump from average price last June. The National Association of REALTORS (NAR) reports the Springs leads the Rocky Mountain area for home sales, hitting the 6th spot for Hottest Housing Market, above Denver. A record 1,743 homes sold in Colorado Springs in June, up 5.6% from last June. Home buyers had more properties to choose from, as rose 16.8% from May. But homes in the most affordable price ranges are still selling within days, not weeks, and above asking price. The average home is on the market 24 days, with the average in some areas as low as 7 days. June 2017 Sales Charts
The inventory crunch is across the U.S. NAR says this is the first time that 1 in 3 homes is selling in under 30 days nationally. The demand for affordable homes is building among first-time home buyers and baby boomers. NAR economist Javier Vivas says millions of older and younger Americans are snapping up starter homes and urban dwellings like never before.
Denver’s lack of affordable homes has been pushing metro-area home buyers south to Colorado Springs for years, but the city’s job growth and surging economy are also bringing new residents here in droves. A majority of the 12,000 + available job openings are for high-paying positions in nursing, software engineering and systems engineering, with a median salary of over $67,000.
840 Red Mesa Drive Colorado Springs CO 80906 is now on the market and ready for a savvy buyer who sees the value in purchasing nearly 2200 square feet at just $122 per square foot.
This home is in Southwest Colorado Springs, in a subdivision called Cheyenne Hills. It’s a classic 1972 home with a tri-level floor plan: you walk in to a front room and kitchen on main level with partial staircases centrally located taking you either upstairs to bedrooms or downstairs to an additional living area, office and bathroom. As with most tri-level homes, it’s a garden level basement which means basically the basement is half underground but still lets in plenty of natural light. What’s unique about this one is the office on the lower level has an attached bathroom plus a sliding door with exterior access. It’s a great room for an office, a roommate or to host visiting guest.
There are lots of other extras in this Colorado Springs home, including built-in shelving around the wood burning fireplace, air conditioning, skylights and plenty of windows for great natural light, plus the washer and dryer could be included in the sale of this home!
Plus, if you’ve never been in this neighborhood, you need to go check out all the amenities. Just down the street from 840 Red Mesa is Quail Lake, a beautiful park and open area perfect for dog walking or just enjoying the Colorado sunshine. And you’re just blocks away from the Cheyenne Mountain shopping area, including destinations like Target, Tinseltown Theater, the Broadmoor World Arena for major events, and plenty of restaurants.