SpringsHomes Blog

Nestled in the desirable Holland Park neighborhood, this West side rancher was built in 1977 and features 4 bedrooms, 3 baths and over 2,100 finished square feet!  Enjoy unobstructed mountain views from the private yard, which backs to open space.  Exterior has rear privacy fence, mature trees, auto sprinkler, 2 storage sheds, huge concrete patio, dog run and even a horseshoe pit!  Interior includes finished basement with wood burning fireplace, new interior paint, new water heater, some new windows and a security system.  Great location...walk to nearby Jackson Elementary School and Jackson Park!

What's it called when a person says the same thing over and over?  Oh yah, REDUNDANT!  That's what I am going to be today as I discuss the yeart-to-date home sales for the Pikes Peak area. It's the same stuff I've been saying every month this year.

We are still seeing an increase in sales activity and a decrease in inventory (meaning homes for sale). The April statistics were just released, and here's is how the year is shaping up:

Single Family Home Sales = UP from last year at this time

Condo/Townhome Sales = UP (slightly) from last year

Total Active Listings for Single Family Homes = DOWN by 26%

Total Active Listings for Condos/Townhomes = DOWN by 36%

In summary:  It is a competitive market.  There are more buyers buying right now.  And they have less inventory to pick from than they did a year ago.  This is a faster paced market now, where buyers have to act fast when they find a home they like.  And, it is common to see multiple offers on one home.  Due to these circumstances, home prices are bound to rise, great news for sellers!

The two positive things I see for buyers are: (1) home prices are still at record lows.  To quote Dave Ramsey, "real estate is on sale."   (2) interest rates are still really good, at less than 4% for a 30 year fixed rate mortgage.  Low prices and low interest rates, great news for buyers!

Nick Timiraos at the Wall Street Journal has written a great distillation on a paper recently published by economists from Federal Reserve Banks of Atlanta and Boston. I am excited to finally see in writing what Realtors on the ground have known for a while. There are a lot of myths and misnomers in the media and the general public about the the housing bust and the subsequent mortgage meltdown. If you're interested in a realistic view of what happened to the housing market, please give this a read.

Twelve Facts That May Surprise You About the Housing Bust

I just finished my first instructional video for this website. I must say I was very nervous but am really happy with the results. In the video I give a general overview of how FHA loans work and why they might be a good choice. Please take a look.

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This is a true Briargate Beauty with extended hardwoods throughout the main level traffic areas. This house is SO immaculate; ready for new buyer to move right in! They've done some awesome upgrades, like Corian counters w/Travertine back splash, pendant lighting and walk-out to deck at the kitchen. The adjoining family room vaults and includes a beautiful fireplace! Upstairs there are 4 great-size bedrooms, including a master with walk-in closet & 5-piece bath. The basement includes a large laundry room, bedroom, bath, wet bar and walk-out to the patio. The interior & exterior spaces of this home really lend to great entertaining lay-out!

Check out more in this personalized web page - http://birnamwooddrive.com/

Well, if you lived here for any length of time... okay if you've lived here a week.. you know what a nuisance the miller moths are as they migrate through Colorado. But one thing most people aren't expecting is these annoying little creatures can cause traffic accidents?! I know driving at night, they are worse than previous years, dive-bombing our vehicles. With our open-top Jeep during these beautiful days, they often hit us in the head.

This morning one or more moths was the cause of a traffic accident in Briargate. A young woman was trying to shoo a moth from her vehicle and ran into a tree, wrecking her car.

On another note, some friends of ours were rear-ended last week, while sitting still to turn left into a parking lot a young man hit them going 50-60MPH and his car burst into flames afterwards. 5 people were taken by ambulance to the hospital. Going that fast rear-ending somebody, this young man was obviously distracted!

The moral of the story: whether it's a moth, a bee... or a meal, or a cell phone, try to remain calm and focused when driving. The moths ARE annoying, but they really can't hurt you, focus on the road.

This is the National Association of Realtors “Nationwide Open House Weekend”. Boylan and Company is participating with two great properties.

This one has everything... 4 nice bedrooms, 4 baths, 3 car all on a huge corner lot. Be close to everything available in Falcon and 5-7 miles to Colorado Springs. I love the front porch and nice entry. The main level has either 9-foot or 2-story throughout. Living and Dining adjoin... great for entertaining. 2-story family room with tile-clad fireplace and custom built-ins, plus a full wall of windows. The eat-in kitchen is completely upgraded with Corian counters, undermount epoxy sink, stainless appliances, 42" upper cabinets with full pantry cabinet.

Upstairs enjoy two spacious bedrooms, loft area overlooking family room plus a sweet master suite... spacious main area, 2 walk-in closets, sitting area, 5-piece bath!

Basement has 9 foot ceilings, huge Rec room could be great theater room, and another huge bedroom.

The backyard includes an extended patio, rocked RV parking space, play set, shed and completely fenced for dogs and kids! This nice corner lot is awesome.

Check out the 'virtual tour' - http://www.indianechoterrace.com/

I am really excited to be marketing this two-story home, located in the Indigo Ranch subdivision. This is a one-owner home and has a park just down the street and Pikes Peak views from the back yard.  The floor plan on the main level is open and bright with tile floors in the entry, kitchen, laundry and half bath. Additionally, there is a wrap around kitchen that walks out to back yard makes it great for entertaining. Kitchen features black appliances, pantry, large eating area as well as a counter bar. Laundry is on the main. Master is oversized with vaulted ceiling and ceiling fan. Master bath attaches with double vanities, an oversized soaking tub and a walk in closet. The 2 full baths have skylights.  Additional interior features: rounded corners, central air and humidifier, 4 ceiling fans and a prewire for security. The back yard is fully landscaped and fenced with a large composite deck. Additional exterior features: sprinkler system, 7 X 7 shed, concrete patio. If you would like to see more of this home please visit http://flatheadlakedrive.com or watch the video below.

This year warm temperatures came earlier than usual.  Today it's April 24th, and our high is supposed to be 82 degrees!  I'm not complaining.  I love it warm.  I'm just saying it already feels like summer here, and we're barely into Spring.

Another early arrival is the Miller Moths. According to our local paper, "Miller moths have commenced their assault on the Pikes Peak region. After a mild winter, the grey nuisances woke up early this year.

They squeeze into houses and garages through every crack and crevasse. They hang out around porch lights, waiting to enter homes unwelcomed. They bombard cars in a fluttering blizzard."

Their six- to eight-week migration happens every year along the Front Range, but doesn’t usually begin until late May.

I remember years ago as a newcomer to the area, I was stopped at a red light.  All these crazy birds swooped around my car at the intersection.  I thought "what is up with these frenzied birds?"  Later it all made sense.  The birds are there to feast on the yummy Miller Moths, who are attracted to the traffic lights.

Colorado folks may grumble about the moth invasion every year, but it's almost a tradition here. It confirms that  warm weather has arrived, and I suspect we'd miss the little pests if they didn't come around.

We have just finished our Quarterly Market Report for the Colorado Springs Real Estate Market. The big take away this quarter is the overall lack of inventory. Realtor.com has confirmed that dwindling inventory we have seen on a local level, is actually a nationwide trend. Colorado Springs saw a 26% drop in inventory over the past year but apparently that is not as significant as we thought. Realtor.com tracks market data in 146 metros, their data shows that the nationwide inventory of residential homes for sale has dropped 21% in March as compared to a year ago.

Although 26% initially seemed very high for the Colorado Springs Real Estate market, areas like Oakland, California have seen drops in inventory levels as high as 51.9%. The good news for those that want to sell is that this lack of inventory should start to impact listing prices with upward pressure, especially as we head into our busy selling season.

To download a copy of our Quarterly Market Report Click Here.

Finally we see some good news for the higher end home market. The "Mortgage Bankers Association" reports the average size of a mortgage purchase application increased 9 percent from December to the end of March, from $214,500 to $233,300 in March.

Really good news for the Colorado Springs Real Estate market because these numbers are just above our median home price of $180,000. Our hope is that as homes sell those buyers stay in our market and move up to more expensive home.

Here is a more in-depth look at this report from CNBC

March sales data was just released.  We are still seeing the same trends.  Home sales are up slightly.  Inventory is down a lot.  The average sales price is still lower than last year, but I suspect that prices will start going up by the end of the year.

Year-to-date in the Pikes Peak area, we have had 1,711 sales of single family homes.  Last year at this time we had 1,686 sales so far.   We have had 236 sales of condos/townhomes.  Last year at this time we had 225 sales so far.

Active inventory (meaning homes for sale) is way down.  Today there are 3,271 single family homes for sale.  Last year there were 4,470 for sale at this time...a 26% drop!

The average sales price for a single family home is currently $212,328 as compared to the average price of $217,720 last year at this time.

I keep talking about the bidding wars I am seeing, meaning today houses are getting multiple offers and the highest bidder gets the home.  If this trend continues, home prices will be up this year.  It's hard to predict how much they will go up overall, but I'd bet it will be somewhere between 2-4%.  It'll be fun to see if I'm right!

I keep telling my buyers the market has changed.  Multiple offers on houses is the new norm, and the highest bidder gets the house.  Here is an example of what I mean:

The last two contracts I have written for buyers have both had competing offers coming in at the same time.  The first one went smashingly well.  I warned my clients "you have competition."  They offered $5,000 OVER asking price, and they got the house. The next one didn't go so well.

It was last Wednesday.  We knew we had competition going in. Another offer on the house had been submitted earlier that day.  But, according to the listing agent "the offer was low."  Based on that information, my buyers offered full price but asked for closing costs to be paid by the seller (a typical and reasonable request).

What I learned later was the listing agent called the other party, told them we were bringing in a competing offer, and they upped their price.  We got outbid.  And I had the sad task of calling my sweet, first time buyers and telling them that they didn't get the house, the one they were so excited about.

To make matters worse, I just learned that I know the competing agent quite well. Rats!  Couldn't it have been some random agent that I've never heard of?  That would make this pill so much easier to swallow.

My buyers are bummed, needless to say. And we are back on the road looking at many houses in hopes to find another one that is perfect for them!

This is a great listing! I'm so excited to have it on the market! Greenough Road is located close to the Falcon Safeway shopping center, as well as other new nearby shopping and restaurants... oh AND it adjoins open space/trails to the side and rear.

This great home has a nice main level bedroom with attached 3/4 bath... it's great for visitors, office or somebody needing main level living. The 2-story living room could also be a beautiful formal dining room. The kitchen has a rare gas range, nice island, pantry and sliding door to the HUGE yard! Adjoining the kitchen is a cozy family room with fireplace. There are 4 super-nice bedrooms upstairs, all close-by the laundry room. The master has an attached bath and TWO walk-in closets. All this and there could be expanded finished space in the unfinished basement.

This area offers an easy commute to Peterson Air Force Base, Schreiver Air Force Base, Colorado Springs... and more. Let me know if you'd like to see it in person!

The Heights at Jackson Creek was one of the first areas developed in that subdivision and for good reason. This area featured natural terrain for big walk-out basements along with big time views of Pikes Peak, the Front Range and the United States Air Force Academy.

So, when I walked into the listing appointment for this 4,200 square foot, walk-out, stucco ranch plan I was expecting a big time view but I must say even I was surprised at the quality of the view. The west side of this home has some of the best views I’ve seen in a long time. Additionally, there is a covered deck I think would be a wonderful place to enjoy our beautiful Colorado Summers.

The main level of this home offers a great layout with a large living room, dining room and kitchen all in close proximity. I just think this is a great arrangement for entertaining. On the other side of the main level are three large bedrooms and two full bathrooms, this is rare in a ranch plan. The current owner uses the middle bedroom as a home office which still leave two bedrooms on the main level, the large master suite that walks-out to the covered deck and attaches to a beautiful 5-piece bath suite and a large third bedroom as well.

Even the Walk-out lower level has views in this home. The basement also features a huge family room complete with wet-bar, great for games or entertaining. This level also has 2 large bedrooms and a separate bathroom.

When you add in the low maintenance stucco, an attached 3-car garage and prime location, I just think this is a great home. If you’d like to see more, please watch the video below.

Every now and then you walk into a house and are completely blown away by the quality of the improvements. This is exactly what happened when I went to list this beautiful woodmoor home. The exterior consists of clean lines and a simple stucco cladding, this was clearly a nice home on a great lot.

Once you walk through the front door it becomes very apparent that the clean and simple exterior of this home doesn’t begin to tell the whole story on this home. The kitchen of this home has been completely remodeled, featuring new, stainless steel Kitchen Aid appliances, slab granite counter tops, under mounted stainless steel sink, hardwood floors and custom cabinets. The kitchen attaches to an open eating are which walks out to the large wrap around deck. Additionally this room opens to a beautiful family room, which features lots of windows and lots of light. The spacious living room features vaulted ceilings, a wood burning fireplace and lots of built-ins. Additionally, the main level features a large office, a spacious laundry/mud room complete with closet, built-ins, plenty of hanging space and a laundry chute.

The upper level features four large bedrooms and two full bathrooms. The master bedroom has one of the most incredible views I have seen in a really long time, you can see the entire Rampart Range from above the ponderosa pines that cover Woodmoor.

The basement is yet another great space. This level features a large room that acts as an additional family room and features a wet bar and attaches to a game room. This level also features a large workshop, a bedroom and a full bathroom.

It’s often difficult to find a great home on a great lot, especially in an area the was developed in the 80’s but this home is everything a buyer could want, trees, views, style, quality and privacy.

If you’d like to learn more about this home, please watch the video:

Here's an interesting bit of information I found:

There is misinformation being circulated about a real estate transfer tax that will come into effect on January 1, 2013 that is part of the Health Care (Obamacare) reform legislation passed in 2010. THERE IS NO SUCH TAX. The Health Care legislation did create a new tax that would apply to a portion of the gain on the sale of ANY CAPITAL ASSET, including real estate. This tax would ONLY apply to persons with more than $200,000 AGI (Adjusted Gross Income) or $250,000 AGI on a joint return. The tax would NOT apply to any amount excluded from taxation under the $250,000/$500,000 principal residence rules. The tax is not imposed directly on the full amount of any capital gain.

Click here for a brochure that explains the 3.8% tax as it would apply to real estate with scenarios and examples

Spring is just around the corner and you know what that means……..home maintenance and cleaning.  There is not a better place to rent the necessary equipment then Bill’s Tool Rental, Inc.

Bill’s Tool Rental has been family and locally owned for 3 generations since 1958.  They have three locations here in the Pikes Peak Region to serve everyone.   They rent everything from small space heaters to large backhoe loaders.  I have personally rented lawn aerators, floor sanders and trenchers and their customer service was first class.  Every employee is very knowledgeable about construction and the equipment.    Bill’s Tool Rental also offers delivery 7 days a week. Visit Bill’s Tool Rental and support one of many great local businesses’ here in the Pikes Peak Region.

Please visit www.billstoolrental.com for more information. 

If you would like more information on the Colorado Springs real estate market please contact me.

Recent message sent to parents:

"DISTRICT 20 CHANGES SCHOOL START TIMES
TO IMPROVE STUDENT SAFETY AND ACADEMIC SUCCESS

Students will benefit from additional sleep and safer morning arrivals at school when Academy District 20 implements new start times for all schools for the 2012-13 school year. All traditional high schools will start at 7:45 a.m. compared to current start times as early as 7:05 a.m.  The changes result in a reduction from four to three transportation tiers and continue to increase efficiency in the district's transportation department.

"We are pleased to be able to implement these changes because we feel all students will benefit," said Academy District 20 Superintendent Dr. Mark Hatchell. "Many in our community have long been concerned about how early our high schools start.  A recent task force studied our transportation services and did recommend that start times be changed if transportation efficiencies could be gained."

Later morning start times for high school students are expected to improve attendance and academic focus. Those students will also benefit from more daylight to walk, drive, or catch buses in the morning to school.

The restructuring of the district's school start times will result in condensing all of the start times to within an hour from the earliest to the latest. Currently, there is a two-hour spread between the earliest high school start time and the latest elementary start time. With the new schedule, all elementary schools will start no later than 8:45 a.m. No elementary school children will be dropped off at the end of the day any later than 4:30 p.m.

The reduction in one tier of busing means that middle school and high school students in some areas will ride the same bus. This arrangement already occurs on some Challenger Middle School and Pine Creek High School bus routes. All Academy District 20 buses are equipped with cameras and drivers are trained to maintain student safety.

A complete list of all the new start and end times for each school is available at www.asd20.org/starttimes.