September was clearly a lack lust month and we are glad it’s behind us. Part of what we do is to try and look at the facts, numbers, evidence, trends and make sense of where the market is heading. Let’s take a look at the important numbers for September of 2007: 19 New Listings came on the market in the Northgate area of Colorado Springs, their average List Price was $417,968 7 Homes in the Northgate area of Colorado Springs, CO went Under Contract, the Average List price of these homes was $405,128 8 Homes in the Northgate area of Colorado Springs, Colorado Sold, their Average Sales Prices were $412,986 There is a $4,982 delta between the average price of a newly listed home in Northgate and the average price of a home in the same Colorado Springs real estate market area that sold in ... 10/03/2007

Greenhaven is a newer neighborhood built around a neighborhood park, in eastern part of Colorado Springs - east of Powers Blvd and North of Dublin Blvd. The homes were built by John Laing Homes from 2004-2007. Half the neighborhood homes are "Cottage Series" homes with low maintenance yards and many with great balconies. The northern half of the neighborhood offers larger homes "Windchime Series" - some with great side and front patios with stone gas fireplaces. Here is a look at the Greenhaven Real Estate housing Market from September 1-30, 2007: Average List Price: $271,857 Low Asking Price: $215,000 High Asking Price: $315,900 Active Homes for Sale: 13 Pending Sales: 1 Sold Homes: 1 Average Sold Price: $240,000 (53 DOM) Average Days on Market (DOM): 83 Days High DOM: 215 days Low DOM... 10/01/2007

Here is a snapshot of the Colorado Springs Real Estate Market for September, 2007. Average Days on Market (DOM): 84This is UP from 83 day from July. High DOM: WES at 144 Days.Low DOM: MAN and BRI at 53 Days. Comment: Days on market are holding steady at under 3 months. Let's hope that this sticks through the winter. Average Sale Price (SP): $292,194This is UP from $281,274 in July.High Sales Price: WES at $538,333Low Sales Price: S/E at $123,881 Comment: The Median Sales price was at $248,299 - much closer to the price of an "average" home that you will find in Colorado Springs. List Price to Sale Price Ratio (LP/SP): 97.09%High LP/SP: PWR at 100.11% Low LP/SP: MAN at 94.12% Comment: Our average LP/SP ratio has gone down - lower than it has been in awhile, but still fairly healthy. In S... 10/01/2007

 This Real Estate Market Report is for the Briargate area in Colorado Springs Colorado for the month of September. 6 homes sold down from 14 in July. 43 homes were put on the market and 15 are currently under contract. The average listing price for a home in Briargate is 369,001 and the average selling price is 340,670, this means sellers in this area get on average 98.39% of their asking price. The average time a home stays on the market in Briargate is 53 days.  Helpful Links:More info on Briargate Real EstateLook at August's reportSearch for a Home in BriargatePosted by Briargate Real Estate.  Please Visit HomesOnlineCoSprings.com 10/01/2007

Downtown Colorado Springs is becoming a more attractive and appealing part of the city. One of the things that makes it such is the Downtown Shuttle bus that runs through the heart of downtown. It provides a convenience to visitors, shoppers, people who work downtown, students, and even the occasional person like myself who is curious to see what it's like to ride the Downtown Shuttle bus.As you can see from this sign, the service is free. It's easy to locate one of the many bus stops along the 1.7-mile route downtown because of the distinctive signs. And there is also a schedule that lets you know when the bus arrives. The busses are punctual. They also run on Saturday.        I boarded the bus at Tejon and Pikes Peak, heading south. One of the nice things about the Downtown Shuttle is... 09/30/2007

What are the Current Colorado Meth-Lab Regulations?MYTH: Unless methamphetamine was actually being manufactured, the property isn't a "meth lab." THE FACTS:  "Virtually ANY methamphetamine related activities, including smoking meth within a residence, is sufficient to categorize the property as an "illegal drug laboratory" pursuant to the regulations. Pursuant to CRS 25-18.5-101, Definitions, an illegal drug laboratory is defined as "the areas where controlled substances, have been manufactured, processed, cooked, disposed of, or stored and all proximate areas that are likely to be contaminated as a result of such manufacturing, processing, cooking, disposing, or storing." Smoking methamphetamine pyrolyzes the drug, which is thus "processed" and therefore meets the definition of a drug ... 09/28/2007

There are different ways to do a quick analysis of investment properties. When in the initial search process you can use the GRM (Gross Rent Multiplier) method to start narrowing down properties. The GRM is a rough value. Do not rely on this to make your offer. Here is the process:If you know the GRM, multiply in by the annual gross rent of the property you are evaluating and this will give you a rough estimate of value. So if you know the annual gross rent of a property is 35,000 and the GRM is 10, $35,000 x 10 = $350,000Value = Annual Gross Rents X Gross Rent Multiplier But what if you don't know the GRM? This is when working with a REALTOR is very beneficial. Have a REALTOR get you a report on listings similar to the properties you are interested in. Once you have those take the sell... 09/26/2007

A four-plex goes on the market for $200,000. You offer $150,000. Is that a good deal? Maybe. How did you come up with that offer? For the most part there is really only one question to ask when approaching rental property. Is this property profitable? If the answer is yes it's a good deal. Of course if the answer is no it's a bad deal.  Goes without saying right? Wrong! Many times unprepared Real Estate investors purchase property for all the wrong reasons. Don't get me wrong. I can see how it would be tempting to by an investment property based on location. As a matter of fact you should target areas where houses appreciate at an average to above average rate. However. The price the seller wants for the property has absolutely nothing to do with what you will pay for it. Profitability ... 09/23/2007

Cimarron Eastridge and Cimarron Westridge are 2 mature neighborhoods on the east side of town - just east of Powers. Cimarron Eastridge is east of Peterson Road and Cimarron Westridge is west of Peterson Road. Both neighborhoods sit between Palmer Park Blvd. and Constitution. These neighborhoods are to the immediate north of Cimarron Hills. Cimarron Eastridge and Westridge are in an unincorporated part of El Paso County, so even though they are addressed as "Colorado Springs" they do not share the Colorado Springs school district (D-11) nor are they covered by Colorado Springs Utilities. The school district for these neighborhoods is Falcon School District 49. The homes in Cimarron Eastridge and Cimarron Westridge are serviced by the following utility companies: Cimarron Eastridge/West... 09/22/2007

Cimarron Hills is a mature, tree-lined neighborhood east of Colorado Springs and although it is addressed as "Colorado Springs", it has never been annexed to the city. The homes in Cimarron Hills (and the neighboring Cimarron Eastridge and Cimarron Westridge) are a mix of different school districts and utility companies. Most homes south of Omaha Blvd. are a part of Colorado Springs School District 11 and homes north of Omaha are a part of Falcon School District 49. (Omaha Blvd. cuts the neighborhood of Cimarron Hills roughly in half. Cimarron Eastridge and Westridge are all D-49) Because most of Cimarron Hills has not been annexed to the city, only a very few homes are a part of the Colorado Springs Utilities service area. The majority of the homes are serviced by the following compani... 09/21/2007

First, you need to understand that Thai food is my favorite food on the planet. But only if it's cooked well. Honestly, I have only been to 2 Thai restaurants, ever, that are worth eating at. (Guess I need to go to Thailand...) One is in the Hawthorne district of Portland, Oregon. The other one is Wild Ginger, here in Colorado Springs, Colorado. Wild Ginger is a family owned and operated. Thailand is known for their friendly people, and that friendliness can be fully experienced at this restaurant. They are always there to greet us, by first name, and let us sit wherever we would like. When we bring our kids, we choose one of the oversized booths, but when it is just Derek and I, we usually choose a window seat, where we can watch the activity on West Colorado Avenue, as we enjoy our me... 09/18/2007

Here I sit at an Open House for 3 hours, listening to Jack Johnson, organizing some of my files, and writing this. Why? Well, I am not going to get any more than one or two people stopping by, at the most. So, I have PLENTY of time. We all see the TV shows where the home for sale gets multiple offers because of the Open House that was held. Dozens of people (both with and without their agents) pile into the home - exploring each room and inevitably one falls in love with the home and writes an offer. Let me explain a little background to Open Houses and then I will explain why they do NOT work in Colorado Springs (or any other place LIKE Colorado Springs). (Oh! Before I continue, let me grab the chocolate chip cookies (that I will wind up eating all of) out of the oven.)Open Houses are ... 09/16/2007

Sanmina-SCI will close Fountain Plant on Dec. 31 According to the Gazette in an September 14th article by Rich Laden, Sanmina-SCI will be closing their doors on December 31, 2007 and will be cutting 319 jobs. Earlier this year Intel announced that they were leaving town and shutting down the Colorado Springs factory which means an additional loss of 1000 jobs by the end of the year. Fred Crowly, a local economist, states that the job cuts in Fountain could translate into the loss of 400 other jobs in the area. To keep up with competition, many companies are sourcing their work overseas were labor and other costs are minimized.  You can contact Dan Follett at dannyfollett@msn.com or visit Fountain Real Estate. 09/15/2007

History:The El Paso County Courthouse was built by August J. Smith. When it opened in 1903, everyone was able to see the "stately corridors" with "elegant decorated ceilings, terrazzo floors and rare scagliola columns" as well as the upper level Division One Courtroom. This courtroom was known as one of the most beautiful courtrooms in the U.S. and was restored back to its original splendor, in 1994 for $350k. The El Paso County Courthouse was a monumental example of Colorado Springs' wealth, as it was built and furnished for $420,000, and the building was debt-free when it opened in 1903. "For a county with a population of only 40,000 in 1900, the new facility represented an aesthetic and fiscal triumph." In 1909 the El Paso County Pioneers Association (founded in 1896) used the El Pas... 09/13/2007

Powers, Colorado Springs Market ReportThe Powers area in Colorado Springs covers almost 22 square miles and includes Peterson Air Force Base and the Colorado Springs Airport. The northern and southern boundries are Woodman and Drennan respectively. The east and west boundries are Marksheffel and Powers Blvd. The neighborhoods in the Powers area include Stetson Hills, Ridgeview at Steston Hills, Springs Ranch, Cimarron Hills, Constitution Hills, Rustic Hills, Eastborough, and Northcrest. School districts are serviced by Colorado School District 11 and Falcon School District 49. There are 812 active properties in the Powers area. Prices range from $59,900 to $632,019. Sizes range from 896 sqft townhomes to 4990 sqft homes.New Homes on the Market: 121  (Average List Price:$218,201)Under Co... 09/13/2007

Colorado Springs is home to the USAFA: United States Air Force Academy. Located in the northern part of Colorado Springs, the USAFA can be accessed by the Northern gates just west of Gleneagle and Northgate or from the Southern gates at the end of North Academy Blvd. (It is important to note that Academy Blvd. has access to TWO military gates in Colorado Springs: South Academy Blvd offers accesst the the North gates of Fort Carson Army Base and North Academy Blvd. offers access to the South gates of the USAFA. Try not to get confused!) The USAFA is a landmark in northern Colorado Springs with the Rocky Mountains as a stunning backdrop. Taken from the USAFA site: "The U.S. Air Force Academy is recognized as one of the nation's finest four-year institutions of higher learning.  Accredited... 09/12/2007

                                                        Relocate-America recently released their list of the top 25 cities to go to school for 2007. It does not surprise me that Colorado Springs made it under the top 25. There are many wonderful schools throughout all of the districts here. Their poll took into account the quality of the schools and choices in educational offerings for children. Relocate-America stated that their list was determined as follows; "Our list recognizes communities with strong support and spirit for their local schools, high parental involvement, strong academic achievement and performance, caring faculty and staff and successful extracurricular programs with opportunities for children to explore and excel in many areas of interest. We recognize a variety of... 09/11/2007

It seems like that house across the street has had a "For Sale" sign in the yard for months.  It may be!  The average Days on Market for single family El Paso County homes was 79 days according to August statistics. Some other single family homes statistics from Pikes Peak Association of Realtors (which inlcludes data from several other areas outside the Colorado Springs metro area):  August 2007:  There were 7,052 active listings, and 945 properties sold.  The average sales price was $259,095. In August of 2005, there were 4,472 listings, and 1,374 sales; average price was 253,032.July 2007:  There were 7,065 active listings, and 1,031 sales, with an average sales price of 274,308.  In July 2005, there were 4,436 active listings and 1,324 sales; average price was 250,504.While there is... 09/10/2007

  Wyck Estate, Manchester by the Sea, Massachusetts The Colorado Springs Housing and Building Association's 2007 Parade of Homes recently ended.  The most expensive home was priced at 2.5 million, and that bought you a lovely, spacious home on acreage filled with upscale amenities and a really cool garage.   It was one of 16 homes priced at 1 million dollars or more.  If you think that one million is a lot to spend on a home, the article below may add some fun perspective to the Colorado Springs real estate market.  Five Houses Vie to Become Most Expensive Home Sale             Ken and Sandy Wickham, the authors of this article, are Realtors in beautiful Colorado Springs, CO.  They welcome your real estate inquiries; to contact them, please visit their website. 09/10/2007

It is amazing how many good real estate brokers ask me how to check for the list of foreclosures in El Paso County Colorado. Well here is the link for those of you who don't know: http://put2.elpasoco.com/foreclosure/ One of the cool things about foreclosures here in El Paso County is that you don't have to subscribe to a list or pay for a list to find out the information. It is available for free on a very easy to use website. Happy searching to you. 09/10/2007