Posts Tagged ‘colorado springs foreclosures’

Realtor Colorado Springs - The One that Can Help You

Wednesday, December 14th, 2011

If you are relocating to Colorado Springs, or you are selling or buying a home there, then you can always benefit from the services of a realtor Colorado Springs.  A realtor will be able to assist you in finding the home most suited to your needs.  Their familiarity with the neighborhoods and property values puts them in the ideal position to assist you in finding the perfect home.

Once you know what type of home you would like to purchase, or rent, then it is important to seek out a reputable realtor.  It is always advisable to select an experienced realtor Colorado Springs.   You want to ensure that the realtor has been in business for a number of years, and has managed to close transactions on a regular basis.  There are many real estate offices and brokerages in Colorado Springs, so you should be able to locate one easily.

Purchasing a home can be a very difficult process; because of this, it is necessary to secure the services of competent real estate professionals, who are able to navigate you through the process. Be very clear in outlining to the realtor your ‘must haves’ those are the things you are not willing to compromise on, whether in relation to the purchase or sale of a home.

A realtor Colorado Springs has intimate knowledge of the neighborhoods.  This means they can direct you to an area that has the amenities you need.  Such things as recreational spaces, shopping areas, school districts, and business opportunities, are all important factors that can impact where you buy your home.   As a result, it makes sense to choose a realtor that is very knowledgeable about the city, as well as the surrounding communities.

The realtor will be able to access the available listings in the particular part of town that you have indicated a preference.  Armed with this information, you are able to quickly identify the available properties and prices.  Because the realtor Colorado Springs often gets information on houses as soon as they become available, you may be able to view homes as soon as they go on the market.  This can be a big help, as you can get first choice in finding the home that is just right for you.

The realtor should also have the expertise to assist with the legal issues relating to the sale or purchase. They should be familiar with all the legal aspects of the sale, including the paperwork involved.  This will ensure that they are able to properly to explain the different aspects of the transaction to you.  This is very important as the sale or purchase of a home is often a very overwhelming prospect for many individuals. However, with the necessary support to guide you through such issues as inspections, mortgage negotiations, and Title Insurance, the process can be made a lot easier.

If you are looking to purchase or sell a home in Colorado Springs, then be sure to contact a realtor Colorado Springs.  With their help the entire process can be smoother, shorter, and stress free.

Real Estate Colorado Springs

Tuesday, December 13th, 2011

If you have decided to purchase real estate Colorado Springs, then congratulations, you have made a very wise choice.  Colorado Springs is a wonderful place to live.  It has pleasant weather all year round, (not too hot and not too cold), growing businesses, scenic views, modern amenities, and very good school districts.

Perhaps one of the most important decisions you can make when buying property, is to retain the services of a reputable real estate agent.  They can take all the hassle out of buying a home.  They carefully examine the features you are looking for in a home, in order to obtain a comprehensive listing of homes from the MLS Colorado Springs.  Based on this report you can get a very good idea of the types of homes that are available in your budget.

Colorado Springs has homes to suit just about every budget, so you don’t have to worry about finding your ideal home. It depends on what you are looking for.  You can get homes from as low as $100,000 and others for as much as $6 mil; it all depends on your preference.

If you only have a very small amount for the down payment on a home, then you can take advantage of some deals on foreclosures.  There are foreclosures in some nice areas like Briargate and Broadmoor.    It is possible to get some foreclosures for as little as $1,000 down. Be sure to do a thorough research of what is available, or ask your real estate agent to do it for you.

If you prefer to move into a new home, then you can find a good variety of new homes in Colorado Springs. There are growing areas such as Northgate, where you can choose from a wide selection of newer homes. Northgate includes areas such as Trail Ridge, Falcons Nest, Northgate Highlands, and Stone Crossing.  Home options include modest starter homes as well as semi-custom style homes.  The price of homes in this region ranges from $200,000 to $480,000.

Southeast Colorado Springs is home to a growing community known as Soaring Eagles.  This development was completed in 2005 and has some well-built modest homes, some of which are 3500 sq. ft. in size. There are also some smaller homes which are 1200 sq. ft.  The homes are very reasonably priced.  In fact most are priced for less than $250,000.

Older style Victorian homes are also available in the older parts of the city.  Many of these homes can be found in the Old Colorado city area.  Prices for these older style homes often range from $150,000 to $420,000.

If you are looking to buy real estate Colorado Springs you won’t be disappointed as there is so much to choose from.  However, be sure you know exactly what you are looking for, and make sure to get a real estate agent to guide you.  Whether you an existing home buyer or a new one you can benefit from their expertise.

Colorado Springs Homes

Monday, December 12th, 2011

Colorado Springs has a lot going for it, great climate, wonderful scenes, growing businesses, and nice homes.  If you are considering relocating there and need to buy or rent a home, then you will be pleased at the variety of homes that there are available.  This will give you the opportunity to get the one that is most suited to your needs, in the area you desire.  Whether you want a townhome, residential home, a multi-family home, a luxury home, or a new home, you are sure to find it among the Colorado Springs homes listed.

For those persons who prefer a bit more privacy, and would like to live in an area that is semi-secluded, a home in Southwest Colorado Springs might be a good option.  The Southwest boasts some very large lots, in the midst of nice wooded areas.  There are some lovely amenities and school districts here as well.  The houses here are very diverse in terms of price.  There are larger 6 and 7 bedroom homes that sell for over 3mil, as well as smaller 2 and 3 bedroom homes that sell for under $250,000.  It really depends on what you prefer.  Some of the more notable southwest neighborhoods include Skyway, Broadmoor, Stratton Pines, and Stratmoor.

If you are looking for mountainous views and even more privacy, then you can consider a home in Ute Pass.  Ute Pass is located between El Paso and Teller counties, and offers very scenic views.  If you are attracted by the nature view, and don’t want to be in the hustle and bustle of the city, then you will love this setting. The houses in this area are moderately priced, many are under $200,000.   Having a home tucked away in the mountains is not only refreshing, but it is also a good investment.

If you prefer to be near the city center, then there are homes in downtown Colorado Springs that would appeal to you.  Of course being at the center of town you can expect great dining, recreational areas, school districts, shopping, and much more.  Colorado College is also located here.  The homes in this part of the city include small Spanish style bungalows, as well as condos, duplexes, and apartments.  These are available for purchase as well as for rent. If you are looking to buy a home in downtown Colorado Springs you will have to be a bit patient, as there are usually less homes up for sale, in comparison to those available for rental.

Despite the national downturn in the last few years, the market for Colorado Springs homes is quite resilient. Most regions report very good sales although buying a home is somewhat easier these days than selling one.  Seeking the assistance of a real estate broker is a good way to go if you are selling your home, as you want to ensure that you get top dollar.  Foreclosures are on the decline as well, so that is a good sign for the continued stability of the housing market in Colorado Springs.

Colorado Springs Foreclosures

Monday, December 12th, 2011

Colorado Springs is the most populous city in the county of El Paso, Colorado, so understandably the city initially faced a relatively high percentage of foreclosures at the outset of the mortgage crisis.  However, in 2011 the rate of foreclosures continued to decline in line with the national trend.  In the month of September 2011, one in every 447 housing units in Colorado Springs received a foreclosure filing.

If you need a deal on a home, then a foreclosed property might well be a good option.  Foreclosed homes are discounted, and therefore they are sold at a much lower price than the market value.  Some houses are discounted by as much as 50%.  Whether you are a homebuyer or an investor, a foreclosed property provides an excellent opportunity to own property in this very desirable area of Colorado.

Foreclosures are a great option for persons that have very little money for down payment on a house. Foreclosed properties usually require a much smaller down payment.  In Colorado Springs, there is an assistance program for persons with little money for a down payment.  This allows persons to make a minimum of $1000 down; in addition grants are available to assist persons who need them.

Also, persons looking to buy Colorado Springs foreclosures can benefit from the US Department of Housing and Urban Development, (HUD) $100 down program, which was recently brought back.   Under this program, individuals can buy a Colorado Springs HUD Foreclosure for only $100 down.

However, it is important to be aware before putting a bid on a foreclosed home.  You want to make sure that you are getting a good deal, so it is wise to seek representation from an experienced real estate agent.  Ensure that the agent you select has the necessary understanding of Colorado Springs foreclosures, and will therefore be able to skillfully negotiate on your behalf.

Colorado Springs foreclosures may include Bank owned homes, HUD foreclosures, and VA repos.  The types and styles of foreclosed homes are very diverse, and are available in several neighborhoods including downtown Colorado Springs, Briargate, and Broadmoor.

You can view listings of Colorado Springs foreclosures online at dedicated sites, or on sites that show foreclosures nationwide. When you view the listings you will get a good idea of what the market for these properties is like.  Many of the sites allow you a free trial period before you have to sign up as a member. You can make the most of that free time, by viewing as much as you can, after that you may sign up if you wish.  However, it is never a good idea to dive into the foreclosure market without the help of the experts, so consult with an experienced real estate agent before making a bid.

For those facing foreclosure, it is never a good place to be.  It can prove very difficult in the future when you have to approach another lender for a mortgage.  Having a foreclosed home on your record will also lower your credit score.

Investors Trending to Snag the Keepers

Saturday, September 3rd, 2011
Info PR: n/a Density

While the economy has created a ‘buyers’ real estate market with home values plummeting and Colorado Springs foreclosures soaring, who’s buying up the properties that are for sale?  While first time home buyers are on the decline and previous buyers are being turned down because of tight credit conditions, Pink Realty agents are seeing that those with cash are the ones bringing the deals to the table.  And today, it’s typically the investors that have the cash!  Per Lawrence Yun, Chief Economist for the National Associate of Realtors (NAR), “Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand.  With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes.”

On February 23, 2011, Jon Prior of the NAR summarized the housing sales for January 2011.  All-cash sales increased to 32% of all sales in January, which was up from 29% in December 2010.  Additionally, it was investors that grabbed more of the market share by accounting for 23% of all buyers in January, up from 20% in December 2010 and up 17% from one year ago.

While many investor home purchases will result in a traditional fix and flip sale, the current rental market and trends are also providing a great profit opportunity for investors.  The demand for rentals in Colorado Springs is on the rise because more people are being turned down for home loans and more people are being displaced because of foreclosure or selling their home on a short sale.  Colorado Springs has become a hot rental area because of the number of military personnel in the city, but also because the economy and housing market has caused so many homeowners to lose their homes to foreclosure or because they had to sell their home as a short sale.  All these people are in need of housing and looking for rentals.  This demand has resulted in less than 1% vacancy in Colorado Springs.  Traditionally in Colorado Springs, the 3 bedroom home was always the highest in demand and considered the ’sweet spot’ in the rental market.  The 3 bedroom homes were always rented, never vacant and there were never enough of them to meet the demand for them.  The larger homes that were for rent were not in demand and stayed vacant.
However, today the demand for 4 and 5 bedrooms homes is increasing.  As more and more middle class families are displaced, the need for the larger rentals increases.  These larger rentals also bring a nice price point to the balance sheet.  The current rental rate for a 3 bedroom single family home is $1140 per month and the 4 and 5 bedrooms are $1374 and $1789 respectively.

Call Pink Realty today at 719-393-7465 (Pink) to talk to an agent and see what great deal is out there waiting for you!

There is no doubt the opportunity for investors to ’snag the keepers’ is now.

While wholesaling and fix and flips bring fast and big profits, more investors are adding the right ‘keepers’ to their portfolio mix as rentals for additional long-term passive income.  With the market trend shifting toward larger rentals, investors should also note that the larger homes with higher mortgages tend to get discounted more by the lenders when working a short sale.  Many of these higher end homes are simply in need of paint and carpet.  We have seen nice homes in the Stetson Hills area that needed as little as paint, carpet and linoleum flooring, but the homeowners couldn’t sell to a retail buyer because the buyers wanted a completely fixed home.  Investors can buy homes for sale Colorado Springs for around $125K and get them turned into great rentals for about $10K.  Cash flow on these short sales or bank owned properties would be very high.

If you call a Pink Realty agent, we would be happy to scour the market for you and find you a great property that will meet your needs.

Are you an investor who wants the upside of an investment property and today’s really cheap prices and huge cash flows but don’t want to at it alone?

The owners of Pink Realty are active, experienced investors and are always looking for partners on deals.  Just give is a call at 719-393-7465 (Pink) and ask to talk to Russ or Monica about partnering on deals.  We would be happy to talk to you.  Just tell us what you want to bring to the table and we will see how we can work together.

•    Do you qualify for the loan to buy the house?  A common strategy investors are using now is to buy houses with cash, remodel the houses and then refinance the property with zero money out of pocket.  We have investor friendly lenders ready to do these types of loans.

•    Maybe you have a small amount of cash available and we can short a 2nd loan and bring the 1st mortgage current on a good property.

•    Maybe you have a larger amount of cash available making 1% at the bank or in an IRA and you want to do something more productive with it but don’t know exactly how.  We can find a really cheap house that we can buy, fix up, and rent.