Category Archives: Colorado Springs

Pros on call: Rob on the radio w/a market update!

Looking for an update on the market? Please let me know how I can help!

Is cash king in Colorado Springs?

There’s a common perception that, “Cash is King.” By this, it’s meant that cash tends to command a large discount.

Is that true in Colorado Springs?

Statistically not in December 2016.

There were 1,309 MLS listed sales for the month in the Pikes Peak Multiple Listing System (PPMLS) last month. Of those, 146 were cash. Of those 146, the average closing price to list price ratio was 98.3%.

Contrast that with VA loans for the same month, where the ratio was 100%.

Cash in December 2016 commanded a 1.7% discount.

From the inbox: should I search on Zillow for homes?

Good question! The short answer is: Yes, it is a tool you can use in your home search. But it has a limitation. 

Zillow is a great platform for home searches and cannot/should not be discounted. However, there are a couple of things you should know when searching for homes in the Colorado Springs market.

Sites like this are fed from an IDX (Internet Data Exchange) via the MLS (Multiple Listing System).

awesome graphic from Rob
awesome graphic from Rob

In the case of Zillow, it’s also manually updated by homeowners, property managers and agents. However, Zillow is no longer automatically updated by the local MLS. The result is that it no longer represents the totality of the market.

It is a tool in the search, but I also recommend checking TheHousingNetwork.com (full disclosure, that’s my website) and/or PPAR.com to see the current listings in the Pikes Peak region.

If you’re looking to buy or sell a home in Colorado Springs, I’d be honored to earn your business.

Homeowner Toolbox: Flood plain map

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credit: pixabay

Are you considering a home in the Springs or surrounding area? Occasionally, I’ll be providing some research tools for your use.

Check out this interactive flood plain map!

Google Power: Colorado Springs School District map

We are all about providing tools and information for the community. Check out this Google Map w/overlays.

photo from Google Maps
photo from Google Maps

From the inbox: how much should I budget for home maintenance?

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photo from OpenClipArt.org

Ooh. This is a good one. The general rule of thumb is one percent of the purchase price of your home, annually. Jeff Brown, from Main St, has quite a good breakdown on what this means for you as a homeowner.

For a home price of $200,000, that’s $2,000 annually it’s recommended you plan for. You may not always spend that much but I do recommend you save it…because there will be times you do.

Last year, I had to replace my roof ($1K deductible) and repair some damage from a washer that failed ($15 part, $1K deductible).

Knock on wood and I really shouldn’t say this but this year we have been fortunate (so far) and not had any major home maintenance issues.

 

Gazette: When did Santa tracking start at NORAD?

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photo from OpenClipArt.org

Interested in a little history on the tracking of Santa via NORAD? Also, check out Google’s Santa Tracker!

 

Gazette: Colorado Springs’ housing market expected to be red-hot

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photo from OpenClipArt.org

I don’t disagree with this assessment, including the piece about the tight rental market. There is an interesting data point to keep an eye on as well, with this discussion: we are a town with a lot of VA loans. The military BAH has a lot to do with pricing here. If BAH doesn’t increase, what will that do to our prices?

Looking to buy or sell in Colorado Springs? I’d be honored to help!

Boulder area hits average of $1M for a four bed…

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photo from OpenClipArt.org

Wow. Boulder is now one of the most expensive housing markets in the nation, according to the Denver Post.

By contrast there are 414 four bedroom homes on the market at the time of this post for $300,000 or under in Colorado Springs.

In the market? I’d be honored to help!