Colorado Springs Home prices (Denver, Stratmoor: leases, loan, homes)

[LHS79]

See they are building $200K+ brand new homes called Patriot Park near Galley and Powers.

The builder is Challenger- not sure what the quality is like but at those prices I assume small houses with 5 feet between your house and the fence next door.

The separation between the houses will be tight- but even the new "upscale" houses up north all have tiny lots with no space between the houses- no thanks!

A lot of these newer developments do not even allow 6ft. fences either- enjoy the neighbors and the dogs.

[abcdefg567]

Originally Posted by LHS79

See they are building $200K+ brand new homes called Patriot Park near Galley and Powers.

The builder is Challenger- not sure what the quality is like but at those prices I assume small houses with 5 feet between your house and the fence next door.

The separation between the houses will be tight- but even the new "upscale" houses up north all have tiny lots with no space between the houses- no thanks!

A lot of these newer developments do not even allow 6ft. fences either- enjoy the neighbors and the dogs.

They're the same as their new community off Union/24. 2-3 stories, no yards, extremely close together, very modern style. Like detached townhomes. Definitely not for everyone. Classic has a similar style with balconies up North.

[ryanek9freak]

I'm so disheartened. I've been looking for an affordable home for over a year now, and I can find nothing, unless it's some dump on the SE side of the city. Realtors look at me like I'm some kind of snob cause I won't send my kids to Mitchell or Sierra High School. Like, sorry I give a damn about my children, I'll try to stop doing that.

I found a home the other day off Chestnut, between GOG and Fillmore, for $199K, 3 bed, 2 bath, 2 car garage, and I jumped on it right away. I offered $15,000 over asking price, and they declined and went with another offer. I shudder to think how much someone else may have paid over asking. This is effing ridiculous. I later found out from my agent that they had 69 showings, and over 30 offers. How the hell can I compete with that? I guarantee more than half those offers were from out of staters. I give up, I threw in the towel. I will never own my own home in Colorado Springs unless I should happen to win the Powerball. I was born and raised here, but I hate it anymore.

[Vision67]

With a median price of $328K, it now takes two good incomes to buy a house in Colorado Springs.

Part of it is the price premium to live here. People are willing to pay for the views, access to the mountains, clean water and air, and good schools.

There are plenty of other places with cheaper houses. Everything is a trade-off.

[Breoul]

Look over by Gray Fox Heights. They are selling new homes for $200K, but there are on the smaller side at 1,500sf. They are located in District 49 (i.e., Sand Creek High School).


https://www.zillow.com/homedetails/4...94979280_zpid/

[Vision67]

Originally Posted by Breoul

Look over by Gray Fox Heights. They are selling new homes for $200K, but there are on the smaller side at 1,500sf. They are located in District 49 (i.e., Sand Creek High School).


https://www.zillow.com/homedetails/4...94979280_zpid/

Caveat Emptor:

"The homes located in this community are modulars and there are two types currently available. The older homes (built before 2005) were built as HUD modulars and the financing is limited. From our research, these homes all require at least 20% down. The newer homes (2005 and newer) can be purchased with traditional financing, as they are constructed differently. (In fact, there is still a sales office in the neighborhood that is offering new build homes in the mid-$100's.)

Also, homeowners who live in the Chateau at Antelope Ridge do not own the land that their home is on, but the homeowners are responsible for the maintenance of their immediate yard. Homeowners "lease" the land that they are on. Some homes are on a 99 Year Land Lease, and some are on a 30+ year land lease. This "lease" and HOA's cost the homeowner about $400. a month - on top of whatever mortgage that the homeowner has. For example, a home purchased for $100,000 would be making the same TOTAL monthly payments that a homeowner with a $130,000 mortgage on a traditional home would make. However, residents do not pay real estate taxes - as they do not own the land. The community is currently owned by BaseCamp Communities LLC.

What's more, the appreciation values on these homes are drastically lower than "traditional" homes in Colorado Springs. Someone looking to buy a home in Chateau at Antelope Ridge must be willing to live in it for 5-7 years to see any noticeable appreciation."

https://activerain.com/blogsview/549...lorado-springs

[orngkat]

I am betting that some of the lower-priced homes are being bought by investors.

[ryanek9freak]

Originally Posted by Vision67

With a median price of $328K, it now takes two good incomes to buy a house in Colorado Springs.

Part of it is the price premium to live here. People are willing to pay for the views, access to the mountains, clean water and air, and good schools.

There are plenty of other places with cheaper houses. Everything is a trade-off.

So what? It's not like those views have just magically changed in the last 5 years, they've always been there. So why is that just now everyone seems to think it's the greatest place on earth and are flocking here in droves? I have been a Resident of Colorado Springs for most of my 40 years, and I've never seen anything like this.

[ryanek9freak]

Originally Posted by Breoul

Look over by Gray Fox Heights. They are selling new homes for $200K, but there are on the smaller side at 1,500sf. They are located in District 49 (i.e., Sand Creek High School).


https://www.zillow.com/homedetails/4...94979280_zpid/

Not a chance in hell. You don't own the land the house sits on, that's why they're so cheap.

[Vision67]

Originally Posted by ryanek9freak

So what? It's not like those views have just magically changed in the last 5 years, they've always been there. So why is that just now everyone seems to think it's the greatest place on earth and are flocking here in droves? I have been a Resident of Colorado Springs for most of my 40 years, and I've never seen anything like this.

I think the higher cost of housing in Denver is driving it.

Rents are about 40% higher in Denver. Houses cost about one-third higher as well.