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Are Colorado Springs Housing Prices Rising?

Thursday, September 27, 2012



Are Colorado Springs Housing Prices Rising?


Are Colorado Springs Housing Prices Rising Are Colorado Springs Housing Prices Rising?

The most important thing you need to know is that housing prices in Colorado Springs through July posted their largest year-to-date rise since 2005. Which begs the question: Are price gains limited to one segment of the market—say, foreclosed properties?

Not really. Data from real-estate firm CoreLogic show that the increases are being felt across all segments of the market. Overall median home prices for Colorado Springs in August were up by 10% from one year ago, as are median prices of existing homes that aren’t distressed sales. Median prices of bank-owned foreclosures in Colorado Springs were up by 3%, while median prices were flat on short sales, where banks approve the sale of a house for less than the mortgage-debt that’s owed. Median prices of new homes, meanwhile, are up by 6%.

So if there are still a lot of foreclosures, how could prices be rising?


While foreclosures are still high by historic standards, the share of bank-owned foreclosures that are selling is down sharply over the past 2 years. Listings of foreclosed properties are down by 24% from one year ago and by more than 45% from two years ago for El Paso County.

While sales of foreclosed properties, which typically sell at a discount, have fallen by about 20% from one year ago, sales of traditional homes are up by 16% from one year ago nationwide.

Are banks strategically holding Colorado Springs properties off of the market?


There’s little evidence that banks have seen an increase of marketable, or ready-for-sale, foreclosed properties sitting on their books. It’s true that there are still hundreds of properties that are in the foreclosure process or where borrowers have missed a couple of mortgage payments, and it’s unclear when or how aggressively banks will move those properties through the foreclosure process. In many cases, lenders and other mortgage companies that handle foreclosures have struggled to meet certain Colorado state requirements governing foreclosures. But the actual volume of foreclosed properties in Colorado Spring that are sitting on banks books are down by around 24% from one year ago.

How large is the shadow inventory?


Overall, the Colorado Springs “shadow inventory” of potential foreclosures is down considerably from the beginning of the year, but is still falling more slowly than expected, according to some realtor estimates. Banks have been taking longer to process foreclosures and become less successful at completing loan modifications. We now expect shadow inventory to remain steady this year before falling again by the end of next year.

Are home prices going to fall further?


Home prices typically strengthen during the seasonally strong spring and summer months, when there are more people shopping for homes. They weaken in the fall and winter. The key, then, is to monitor the year-over-year change in home prices.  If banks continue to push more foreclosure alternatives at a measured pace and if housing demand remains at its current levels, then home prices are probably past their bottom. The biggest risks to the Colorado Springs’ housing forecasts, are weakness in job growth, the broader economy and tighter credit standards brought on by forthcoming mortgage regulations.

If you are interested in getting more information because you are a buying or selling a Colorado Springs Home , please contact us below or call Travis at


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Colorado Springs Realtor Referral Fee

Wednesday, September 26, 2012



Colorado Springs Realtor Referral Fee


We pay 1% of the purchase price as a referral fee upon closing!


Colorado Springs Real Estate Referral Fee

If you are an  out of state agent that has a client who needs assistance either purchasing or selling their home in the Colorado Springs area, then you have come to the right place!  If we close on a home for $300,000 and you gave us the referral, then we will cut you a check at closing for $3,000! Compare that to the industry standard of of $1,800 on the same deal.

How do we do it?


It's simple, we are not a nationwide franchise, and therefore we have the freedom to make these types of decisions in house. In addition, the standard Colorado real commissions are 3% per side, which is a little more generous than a lot of other states.

Why do we do it?


Because without YOU, we never would have had the client to begin with, and we think that is worth a full commission point.

At Turner Associates we are professional and dependable Realtors who have years of experience in the Colorado Springs region, as well as mountain properties in Teller, Park and Custer Counties. We specialize in all types of residences from small condos to multi-million dollar estates.

Rest assured you can trust Turner Associates with your client. Check out our testimonials.

Here is an example of our simple referral Colorado Springs Realtor Referral Agreement


Just call Travis at to get started today


or email us at info@turnercoloradohomes.com


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors




 

5 First Time Home Buyer Mistakes

Monday, September 17, 2012



5 First Time Home Buyer Mistakes


If you are a first time home buyer in Colorado Springs and need some direction, call Travis at




5 First Time Home Buyer Mistakes 5 First Time Home Buyer Mistakes

There are common mistakes that first time home buyers make when purchasing a home in Colorado Springs, Co. and the list below outlines the top 5 that I've seen over the years.

1. MAKING LOW BALL OFFERS


As a first time buyer, you may be reluctant to offer full price, or above asking price, on a home that you want to purchase in Colorado Springs. You may also think that your real estate agent is simply trying to make a quick sale, if they urge you to do so. However, the El Paso County real estate market is moving quickly right now, and desirable properties typically have multiple offers submitted on them due to the severe lack of inventory. With homes in Colorado Springs and Monument selling almost as soon as the sign goes up, and prices pushing up slightly, you're setting yourself up for heartbreak and wasting your time, if you're not offering a fair amount of money for the property.

2. TAKING ADVICE FROM FRIENDS AND FAMILY


Every Colorado Springs real estate transaction is unique due to the fact that buyers and sellers have varying personalities, circumstances, income, equity positions, debt ratios, credit scores, etc...  In addition, the Colorado Springs real estate industry and real estate market are constantly undergoing changes, and what was true a year ago, or even yesterday, could be completely different in today's economic and lending climate. Loan officers and Colorado Springs realtors that are working in the business every day, have a depth of knowledge, and real time experience with regards to appraisals, market values, seller concessions, and more, which your friends and family do not. Although it's natural to be nervous and tempted to rely on friends and family, as a first time buyer, it's important that you trust what your Springs’real estate agent and/or home loan agent tells you. And, although it's wise to get a second opinion in many cases, it should always come from another Colorado Springs real estate industry professional, who has the FULL details or your purchase and financial profile.

3. BUYING THE MOST EXPENSIVE HOME THEY QUALIFY FOR


Becoming a homeowner is very exciting for a first time buyer, but it can become a financial burden, if you're not prepared for the additional costs of homeownership. This is one topic that is perfect to discuss with friends and family, and an area where they can be a great source of advice.

When choosing your first home in Colorado Springs, consider all of the expenses you will incur, in addition to your monthly mortgage, and be realistic about how much you will have left over for food, gasoline, and even entertainment. The last thing you want to do is to become a prisoner in your own home, even if it is beautiful and everything you've ever dreamed of.

4. NOT MAKING AN OFFER WHEN THEY FIND THE RIGHT HOME


So often first time home buyers are hesitant to place an offer on a home, if they've just begun their Colorado Springs home search. The problem is that there are many other buyers that have been searching for months already, and the home you love may very well be pending by the time you circle back to it. Yes, it's important to see what's out there, and know that you're making the right decision, but you should try to do this as quickly as possible, if you find a home that you like and suits your needs.

5. LOOKING FOR A HOME LIKE THEIR PARENTS


It's important to remember that most people do not buy their dream home right out of the gate. Your parents, or other family members and friends, probably started out in a much smaller house, or even a condo. Most likely, they paid down their mortgage over the years, and then traded up to a larger Colorado Springs home, when the time was right. As a first time buyer, it may be difficult to lower your expectations a bit, but by not doing so, you may miss out on a great home and the incredibly low interest rates and prices available today. We are in the greatest buyer’s market since the great depression, on top of the greatest interest rates in history. In other words buy as much house as you comfortably can, downturns are when true wealth is created.

If you are interested in getting more information because you are a Colorado Springs First Time Home Buyer, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

How To Choose A Lot

Wednesday, September 12, 2012



How To Choose A Lot


Choosing a lot in Colorado Springs can be an overwhelming process. Use these simple tips below to assist your decision making process. For more questions, guidance or lot reservations, call Travis at




How To Choose A Lot How To Choose A Lot

Ok, you’ve decided on the Colorado Springs Neighborhood that you want to build in. Now, depending on the variety of lots available and the floor plan you've chosen, you have a choice of home sites within the Springs’ subdivision that you have chosen. Don't be content to pick your spot from a plat plan! Go out and see each home site firsthand. Be sure to wear sturdy shoes when you tour your options, and bring along a camera and a way to take notes.

So here are 4 things to consider when choosing your home site in Colorado Springs -

1. TERRAIN: Is your site hilly or level? If you're dreaming of a terraced garden or a walk out basement, be sure to choose a site that fits your plans and slopes properly with mountain views considered.

2. LOCATION: Would you prefer a corner lot with lots of curb appeal or a secluded cul-de-sac spot? Where your home site is situated will influence the amount of privacy you'll enjoy. Take note of how far your home site is from neighborhood amenities, like parks and walking trails.

3. ORIENTATION: The direction your home faces affects more than your view. The amount of sun your living areas get can influence everything from your heating and cooling bill to your lighting needs and window treatments—to say nothing of the effect on your outdoor spaces. If you enjoy entertaining on the patio, for example, consider a west-facing home site for more afternoon or evening shade and Pikes Peak views. If gardening is more your style, consider how much sun your flowerbeds will receive in growing seasons.

4. SHAPE: Are you happy with the depth of the lot? The side yard space? The shape of the front and back yards?

5.  RESEARCH: Make sure you research neighborhood schools and other area amenities ahead of time. Www.turnercoloradohomes.com offers area maps and directions for each community, so you can make sure you're close to the places that are important to you.

Also - check out out blog on Negotiating With A Builder

If you are interested in getting more information on lots in Colorado Springs or would like to reserve a lot, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com


 

Solera And Syrah In Flying Horse

Tuesday, September 11, 2012



Solera And Syrah In Flying Horse


For questions on buying or selling in Solera or Syrah in Flying Horse, 


call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Solera and Syrah in Flying Horse Solera and Syrah in Flying Horse

Solera and Syrah in Flying Horse provide an elegant setting that brings luxury living and old world charm together in a beautiful neighborhood enclave. The Villages of Solera and Syrah is the height of style in the heart of northern Colorado Springs with elegant designs, exciting floor plans, and exquisite options from several builders.

If you are interested in getting more information on Solera and Syrah in Flying Horse , please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Toscano At Flying Horse

Tuesday, September 11, 2012



Toscano At Flying Horse


For questions and lot reservations on the new development in Flying Horse called Toscano, call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Toscano At Flying Horse Toscano At Flying Horse

At the the Village of Toscano, every home is a statement in elegance. A lavish return to the estates and villas that once graced the fabled countrysides of Europe. Featuring 29 custom homes sites that range in size from one acre to two and one-half acres, Toscano showcases innovative designs, elegant floorplans, and majestic vistas, all in one luxurious, guard-gated community.   Home site pricing ranges from $500,000 to more than $1 million by the finest homebuilders in all of Colorado. Social Fitness Membership in The Club at Flying Horse is included with the purchase of each Toscano home.

If you are interested in getting more information on Toscano in Flying Horse or wish to reserve a lot, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Encore At Flying Horse

Tuesday, September 11, 2012



Encore At Flying Horse


For questions on buying or selling in Encore at Flying Horse, call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Encore At Flying Horse Encore At Flying Horse

Distinctive Single Family Detached Ranch Plans – that’s the idea behind Encore. Encore at Flying Horse offers open floor plans with main level living, accented with tempting extras like covered porches, landscape maintenance, snow removal and trash service.  And if all of that weren’t enough - each Encore home also comes with Social Fitness membership to The Club at Flying Horse.  Most current residents liken living at Encore to be a permanent resident of a 5 star resort.

If you are interested in getting more information on Encore at Flying Horse, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Sonoma In Flying Horse

Tuesday, September 11, 2012



Sonoma In Flying Horse


For questions on buying or selling in the new development in Flying Horse called Sonoma, call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Sonoma In Flying Horse Sonoma In Flying Horse

The Village of Sonoma in Flying Horse is inspired by the wine country (hence the name).  With public gathering places, meandering pathways and eye-catching architectural details, Sonoma takes old-world charm and raises it to elegant new heights. Sonoma provides lovely, new, fully-maintained luxury patio homes. There are six floor plans ranging in size from 3,800 to 5,800 finished square feet, and pricing begins in the mid $400's.

If you are interested in getting more information on Sonoma in Flying Horse, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Calistoga In Flying Horse

Tuesday, September 11, 2012



Calistoga In Flying Horse


For questions and lot reservations on the new development in Flying Horse called Calistoga, call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Calistoga Flying Horse Calistoga Flying Horse

Calistoga in Flying Horse offers choice location AND choice materials.  In this gated community Flying Horse you’ll find custom floor plans with options galore. The community amenities include enclaves, open spaces, a central, five-acre park, and golf course frontage. Custom home sites range from one-half to three-quarter acre with prices starting in the upper $100s.  Social Fitness Membership is included with the purchase of your home in the Village of Calistoga at Flying Horse. Let us give you a private tour, and discover the dramatic difference between an ordinary community and luxury living.

If you are interested in getting more information on Calistoga in Flying Horse or want to reserve a lot, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

Verona In Flying Horse

Tuesday, September 11, 2012



Verona In Flying Horse


For questions and lot reservations on the new development in Flying Horse called Verona, call Travis at 


 or receive your free FLYING HORSE HOME VALUATION




Verona In Flying Horse Verona In Flying Horse



Verona in Flying Horse provides exceptional mountain views, golf course frontage, and available walk-out lots, The Village of Verona represents a unique lifestyle package as well as a great deal of flexibility in choice and price. This neighborhood village is the perfect blend of the amenities and style found in The Villages of Saratoga and Calistoga. All new homes in Verona include Social Fitness Membership at The Club.

If you are interested in getting more information on Verona in Flying Horse or want to reserve a lot, please contact us below.


Thank you and sincerely,


Turner Associates | Colorado Springs Realtors


info@turnercoloradohomes.com

 

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