9 Things Which Give Value to a Neighborhood

9 Things Which Give Value to a Neighborhood

I recently wrote a blog about things which devalue a neighborhood. Now it's time to talk about things which add value to one:

 

1. School District - Being in a desirable school district always adds value to a property. In fact, I sometimes get phone calls from out of state buyers who are coming to Colorado Springs and have already targeted which school district they want to live in. They are usually willing to pay more to live in such areas.

2. Neighborhood Pool and/or Rec Center - Many of our neighborhoods have a private pool and rec center just for the locals. Wagon Trails, Banning Lewis and Woodmen Hills are some, to name a few. Residents pay homeowner association dues for pool and rec center access, but they are more than happy to have these amenities which are not open to the general public.

3. Golf Course - Neighborhoods surrounding a golf course are always in demand. Homes in such areas usually cost more, but buyers consider it very valuable to live in prestigious golf course communities like Flying Horse or Pine Creek.

4. Neighborhood Trails and Open Space - If an area has its own trail system or designated open space, people consider that a plus. Take Wolf Ranch for example, this neighborhood has a private trail system weaving through it. I have heard buyers say they were hoping for such.

5.  Views of Mountains - A neighborhood which offers unobstructed mountain views will always warrant a higher price tag in Colorado Springs. After all, when you live in Colorado you want to see those mountains as much as you can!

6. Near to Shopping and Restaurants - I'd say this is added value. I promote such conveniences with my listings. I once had a home for sale where the buyer was happy to learn of the new grocery store being built just blocks away from her new home.

7. Near Water - Any time you can find a neighborhood bordering a lake or even ponds, it's valuable. Look at the new Forest Lakes community in Monument. The average price there is in the mid $500,000's.   Buyers will pay for that precious water nearby.

8. Cul-de-sac Community - Banning Lewis Ranch is the perfect example of this. Developers designed this neighborhood so that most of the interior streets are cul-de-sacs which means they are not high traffic and are more kid friendly.

9. Gated Community - Will buyers pay more to live in a gated community? You bet. Look at High Forest Ranch or the Broadmoor Resort Community. Both are gated with on staff security guards, offering residents an exclusive and protected environment. And both are on the higher end of the housing market.

 

Yes, it really is about location, location, location!

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2016 Parade of Homes "in the Books"

2016 Parade of Homes "in the Books"

The Colorado Springs HBA Parade of Homes is one of my absolute favorite local annual events!!! Anyone who knows me knows I don't like hot weather, and this tradition marks the beginning of school and a general cooling trend as we head into fall. Not only that, but I LOVE seeing new design trends... building styles, colors, features, locations, furniture, etc. And who doesn't love the occasional privilege of going into multi-million dollar homes?! 

Normally I'm not impressed with the "normal models"... those homes which will be models even days, weeks, months after the Parade. I try to keep to viewing the higher priced homes. But this year, even a couple of the smaller ones impressed me, and encouraged me to show my buyers in some areas. The building industry is booming, not only residential, but also commercial. I feel like there is a new neighborhood popping up east of Powers every week! 

One of my favorite "smaller" homes was Oakwood's new cluster community in Banning Lewis Ranch called Carriage House. And while we're on BLR, I'm so impressed how this neighborhood is "growing up"!... adding to their charter school campus will be a high school, adding to their neighborhood parks is a new splash park. And the neighborhood is just really coming into its own. The yards are a bit smaller and most filings still only allow split-rail fence, but their big push is small yards with trails leading to parks & the Ranch House for family and neighborhood use! However, this Oakwood community allows for privacy fences. And the homes are just adorable yet modern. Here is a shot of the models: (P.S. Gimme a call if you want to see in person, I'd love to take a buyer over there!)

In homes of all price ranges I loved seeing a mixed use of mediums both in and outdoors. Check out the exterior of Picasso Homes' Le Reve - siding, stone, stucco, steel and wood, WOW! (trust me the interior was just as impressive!!) and Saddletree's fireplace (rustic corrugated metal, wood, stone & steel beams!) in their Buena Vista II... 

      

Probably the most impressive landscaping credit goes to Silver Summit GC's Summit View Ranch. With over $100,000 in stone, ponds, fish, rivers, walk-ways & bridges, waterfalls, stained concrete patio, built-in fireplace/bar... it all masks highway noise from I-25 and is so convenient to everything in town! 

Most of my friends told me that the Galiant Homes' "La Visiere" in Flying Horse stole the show. I'm torn, because personally I loved the Alliance Builders' "Beaumont" most for floor plan, entertaining and family friendliness. However, as a family I think my husband, boys & I would choose the Murphy's Custom Home "Shadow Mountain Luxe" not only because it is a great house!!! but also comes on 35 acres... plenty of space for riding our dirtbikes/ATVs! 

I never take enough pictures... I don't even feel like these are adequate to show what a great Parade of Homes it was this year!! Here are a couple extras... open glass instead of railing at the Brookstone Homes' "Belmont" in The Farm and just a cool bed! The Farm is also quite impressive with it's creative combination of rustic "farm style" and modern design. And it's all so close to everything in town, but tucked in a little valley with trails, parks, and ponds. 

    

Flying Horse in general never ceases to impress us! Year after year I love Saddletree's models (since about 2003) and Hi Point in Gold Hill Mesa for the past 3-4 years! I was struck by the number of homes with a main level master and just one bedroom up. I guess that's a play + guest design with kids in basement bedrooms. One of the prettiest with that lay-out was Vanguard's "Ramsgate"... One of the most extravagant Kirella Homes' "Villa di Torre". And of course All About Home Design's "The Cottage at Millhaven" in Cathedral Pines was a stunner!! The design may say cottage, but the size didn't! ;-) 

As always, I enjoyed seeing the trends and designs... and my husband loves (insert sarcasm) when I come home with all the new ideas for our home. But seriously, what a great thing our HBA does! Here are a couple goofy pics of me out at the Parade home in Woodland Park... moose statue and Pike's Peak view from the "City Above the Clouds"! This is my "this is the view from the BOTTOM of the driveway?!" face... that Picasso was a beauty for sure! 

 

If I neglected to give any home or builder credit I truly apologize. It was a great Parade of Homes. It was a new schedule this year... Wednesday-Sunday for 3 weeks. With my sister's wedding week in the middle it's highly likely I forgot everything before that! 

Please always let me know if I can help you take a look at a home, neighborhood, builder, etc... I so love what I do and the Parade is a fun way to check out so many local homes/builders in a short time! 

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Open House this Wednesday and Saturday in Forest Meadows

Open House this Wednesday and Saturday in Forest Meadows

Come Try Out This Private Master Balcony!!! We are holding open houses at this lovely home Wednesday August 24th, 3:30 PM to 6:00 PM and Saturday August 27th, 10 AM to 1:00 PM. For more details on our listing at 7778 Chasewood Loop, Colorado Springs 80908, go to https://www.springshomes.com/mls/6453302-7778-Chasewood-LP-Colorado-Springs-CO-80908 

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9 Things that Devalue a Neighborhood

9 Things that Devalue a Neighborhood

I recently read an interesting article about home prices and what can make a home more or less valuable.  Below is the list of nine top things which devalue a property or neighborhood, and my commentary on each:

1. Bad School District - I completely agree with this one.  Families with school age children are especially sensitive to being in a top rated school district and to not being in a bad one.  Even the nicest home in a poor district will be hard to sell at top dollar.

2. Located near a strip club - I sort of agree.  We don't have a ton of strip clubs here in Colorado Springs, and of the few that do exist they are far enough away from the houses that values are not drastically affected.

3. Area with a high rent concentration - I agree. If the majority of houses in a particular area are rentals, buyers think the neighborhood may not look as appealing. They assume tenants will not properly upkeep the homes. And apartments buildings which border a backyard are considered a drawback as well.

4. Homeless shelter nearby - Sad as this is, I have to agree that it will affect the value of a home.

5. Located near a cemetery - We have a few cemeteries in Colorado Springs.  The houses nearby are not directly affected so long as one cannot see the cemetery from them.  If the cemetery is across the street, then yes the value is affected.

6. Funeral home nearby - I don't agree with this one. I have not seen a drop in neighborhood values because a funeral home is in the area.

7. Power plant/lines visible - I know from experience that those large overhead power lines do negatively affect a property's value. Some of them even make a buzzing noise which makes buyers nervous. It doesn't matter how nice the home is...if near a large power plant or power lines, buyers will consider it less valuable.

8. Near a shooting range - I disagree with this one making a home less valuable. Here in Colorado shooting ranges are quite common. Most are indoors where you cannot hear the shooting noise from outside. And the outdoor ranges are not near housing.

9. Near a hospital - This one is on a case by case basis. Example: we have that nice, new Penrose Hospital near Powers and Woodmen. It's a lovely facility and has not negatively impacted house values in the nearby neighborhoods at all. But if you consider the older Penrose hospital downtown, that one is right across from a bunch of homes. When those ambulance sirens go off at all hours of the day, this makes the nearby houses less appealing.

If you are home shopping and want my opinion on the neighborhoods you are considering, don't hesitate to contact me. I am always happy to share information.

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Just Listed - Land with 360 degree views & rock formations

Just Listed - Land with 360 degree views & rock formations

Lot 5

When you think of Colorado, this piece of land could be the state's official postcard. 1.67 acres of land in Cripple Creek Mountain Estates Community with rock formations and to die for views. Community benefits include, Fitness Center, heated Indoor Pool, Library and playground. For more information, visit www.goldencyclecircle.com, or give me a call.

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