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Tuesday, June 20, 2017

Looking for Your Next Favorite Hiking Spot in Town?


Colorado Springs has some great options for hiking, so today I wanted to tell you about some of our favorites.

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Now that we're in the heart of summertime, I wanted to provide a list of some of the best hiking spots here in Colorado Springs.

First, there's Garden of the Gods off 30th St., which has lots of great hiking trails and rock formations to check out. Down in that same region, you've got Red Rock Canyon Park, which has five miles of hiking.

Palmer Park is located centrally in town with five square miles of hiking space. If you're looking for waterfalls, look no further than St. Mary's Falls and Helen Hunt Falls. These two are especially great to check out in the summer.

The Paint Mines make for a great change of scenery.
If you're looking for a challenge, check out the Manitou Incline, which is basically one mile of stairs straight up. We have people come from all over the country to try their hand at the Manitou Incline.

Just east of town, the Paint Mines are a nice change of scenery. It's filled with beautiful orange, yellow, and red rocks.

These are just a few of our favorite spots, so if you're interested in more locations or buying a home here in Colorado Springs, just give us a call or send us an email soon. We'd love to help!

Thursday, June 8, 2017

Why Rent When You Can Buy?


Making the leap from renter to homeowner isn’t as treacherous as you think. Homeownership offers many benefits that renting doesn’t.

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Why buy instead of rent? Here are a few facts that demonstrate why it’s much wiser to buy and own your own home. 

First, rent prices in Colorado Springs rose more than 11% in 2016 and continue to rise in 2017. In fact, the latest Colorado Springs Gazette article states that prices have risen 10.5% in the first quarter alone. The average rent for an apartment is slightly more than $1,100 per month, while the average mortgage payment for a house is also $1,100.

When you own a home, you have more freedom to do what you want. There are also considerable financial gains to owning a home. For example, you will get a tax benefit for your mortgage interest deduction, and your mortgage payment will stay the same over a long period of time instead of rise as rents are prone to do.
Wouldn’t you rather own a home with your own yard instead of rent an apartment?
Lastly, studies have shown that the average homeowner is worth 45 times more than the average renter. The only caveat to purchasing a home is you must make sure you will live in that home for at least three to five years so the purchase makes sense.

Why not get started by building equity in your home and building your wealth?

If you have any questions about the benefits of owning a home or you’re thinking about buying or selling a home, don’t hesitate to reach out to me. I look forward to speaking with you.

Friday, May 26, 2017

Where Is the Market Headed for 2017?


Where is the Colorado Springs real estate market headed in the next 12 to 18 months? We’ve got your market update. 

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Where is the real estate market headed in Colorado Springs?

Currently, the market is red hot. Year to date, from 2016 to 2017 the average sales price for the first quarter is up 11.7%. The median sales price is up 10% to $275,000, and the sale of residential units is up 2.2%.

Inventory levels are down 34.9% and the number of listings is down 26.6%. The number of foreclosures is also down 31.9%.

The average number of days that homes are staying on the market is around 36 days, and interest rates are up to 4.1%. With all of this in mind, the $400,000 or lower price range is a seller’s market. We should see that continue to be a trend for the next 12 to 18 months, so if you’re looking to sell, now is a good time.
Prices will most likely continue to rise for the next 12 to 18 months, and we’re going to see 6% to 7% appreciation per year.
In the $500,000 price range, we’re experiencing more of a balanced market, and it’s still a buyer’s market in the $1 million price range.

Prices will most likely continue to rise for the next 12 to 18 months, and we’re going to see 6% to 7% appreciation per year. In fact, in the last 12 months we’ve seen homes appreciate at about 1% per month, so we’re most likely going to see appreciation follow the same trend.

If you have any other questions, want to know what your home is worth, or are looking at buying a home, please don’t hesitate to give us a call. We’d love to help you!