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Old 01-14-2021, 11:36 AM
 
Location: SW Florida
13,884 posts, read 7,032,416 times
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Quote:
Originally Posted by mtngigi View Post
Do come back and let us know how things worked out in your search for a home.
I'm afraid Colorado Springs is out of my price range. However, once my son moves there I will at least be able to visit.
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Old 01-14-2021, 12:44 PM
 
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I know I can afford to buy a house in beautiful downtown FOWLER , Co , with a booming POP of about 1200 and it is only 28 mikes to La Junta where the closest Wal -Mart is. Which is where I buy all my groceries but I have a delivery membership ( Walmart plus ). I wonder how much the door dash tips will be ?
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Old 01-21-2021, 06:19 AM
 
Location: SW Florida
13,884 posts, read 7,032,416 times
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My oldest son has sold his townhome in Fort Myers, FL and will be leaving for Colorado Springs on February 23rd. :-(
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Old 01-21-2021, 08:14 AM
 
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My Condolences Chiluvr1228, I had some friends who retired in Colorado city which is not too far from Colorado springs. it is south of Pueblo though so that is not a short drive, 70 miles
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Old 02-03-2021, 04:33 AM
 
Location: Colorado Springs
6,179 posts, read 6,611,000 times
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Colorado Springs homebuilding picks up in 2021 where it left off in 2020

https://gazette.com/business/colorad...7669bfc6c.html

"Colorado Springs-area homebuilding is off to a fast start in 2021.

In January, the Pikes Peak Regional Building Department issued 459 permits for the construction of single-family, detached homes in El Paso County, according to a report this week by the agency.

That's an almost 40% year-over-year increase and the highest number of permits in any month since 482 were issued in August 2005 — a nearly 15½-year span.

January's permit activity picked up where last year left off.

In 2020, single-family home building permits issued by the Regional Building Department totaled just shy of 4,500, which was the most for any year since a record 5,314 permits in 2005.

The area's townhome market, which offers a more affordable alternative for homebuyers, also remained strong. In January, Regional Building issued 81 permits for townhome construction in El Paso County, nearly three times as many permits as during the same month last year.

"It's crazy," said John Bissett, president of JM Weston Homes, a Springs-area townhome builder.

Bissett described his company's business as "phenomenal." JM West generally builds a little less than 100 units a year, which sell in the $300,000 price range, he said. But the company is poised to exceed that figure by at least 50% in 2021.

"We have more sales and backlog today than we had closings (completed transactions) in 2020," Bissett said Tuesday. "On the second day of the second month."

Builders and housing industry experts have pointed to several factors as driving the demand for new homes. Among them:

• Mortgage rates are at their lowest point in roughly a half century, according to mortgage buyer Freddie Mac. At the start of 2020, 30-year, fixed-rate loans averaged 3.72% nationally. By year's end, rates had fallen more than a full percentage point to 2.67%. Last week, long-term mortgage rates averaged 2.73%.

• A shortage of existing homes on the resale side of the market has driven many buyers in search of new homes. In December, the supply of homes listed for sale by area real estate agents totaled just 530, a Pikes Peak Association of Realtors report shows. That was the lowest in at least 25 years, according to historical data compiled by The Gazette.

• The local economy has remained relatively healthy despite the COVID-19 pandemic. One indicator: year-to-date city sales tax collections at the end of 2020 — a sign of consumer and business spending — were down by just 0.2% from the same time in 2019, even as restaurants temporarily closed their dining rooms at different times last year and hotels saw a big drop in bookings.

Colorado Springs' quality of life also plays a major role in attracting new residents, who in turn want to buy homes, Bissett said. The city has ranked high in U.S. News & World Report rankings in recent years as a desirable place to live.

"The region has an awful lot to offer and I think we're seeing a lot of in-migration," Bissett said. "Affordability has certainly taken a hit, with the imposition of commodity tariffs and lumber increases over the last year-and-half or so. Our costs have gone up significantly in some of those areas. However, relatively speaking, compared to other areas, we are still moderately affordable."

Homebuilding is important because the local construction industry is a key part of the Pikes Peak region’s economy.

The building industry employs thousands of carpenters, framers, laborers and the like, who spend their paychecks on the purchase of cars, appliances, furniture and food, among other items.

The purchase of construction materials by builders, meanwhile, generates sales tax revenue that pumps millions each year into the coffers of local governments, who use the money to fund roads, parks and other basic services."
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Old 02-04-2021, 09:25 AM
 
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Colorado Springs, bring money lots of money if you have lots of money it is a great place to live!
enjoy the quality of life!
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Old 02-09-2021, 03:50 AM
 
Location: Colorado Springs
6,179 posts, read 6,611,000 times
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Colorado Springs' supply of homes sees a whopping decline

https://gazette.com/premium/colorado...d03c26dd5.html

"The supply of homes for sale continues to shrink in Colorado Springs.

Just 460 single-family homes were available for purchase in January in the Springs, El Paso County and a handful of Front Range counties — a whopping 61.3% decline from the 1,190 homes for sale in January 2020, a Pikes Peak Association of Realtors report shows.

It was the largest percentage drop in monthly inventory over at least the last 25 years and the fewest number of homes on the market for any month during that span, according to Gazette historical data.

“It’s just insane,” Rick Van Wieren, an agent with Re/Max Properties in Colorado Springs, said of the miniscule number of homes for sale last month.

According to the Realtors Association report and Gazette data:

• January’s 460 homes for sale represents a one-half month supply, meaning the inventory of homes would be exhausted in roughly two weeks if sales continued at their current pace and no additional properties came on the market.

• Homes sold in an average of 17 days during January; in the same month a year earlier, homes were on the market for an average of 30 days before selling.

• Since May 2019, monthly inventories have fallen on a year-over-year basis every month, except for a 1.1% increase in April 2020. After than one-month respite, supplies resumed falling — often by more than 50% from the year before.

Despite the COVID-19 pandemic, demand for single-family homes remained strong throughout much of 2020 — fueled, in part, by historically low mortgage rates and an influx of newcomers to Colorado Springs, housing industry experts have said.

Even with the furious demand, many potential home sellers have chosen to remain on the sidelines and hold onto their properties; some fear they won’t be able to find a replacement house for the one they sell, while others have opted to sit tight during the pandemic.

As a result of the exceptionally tight market, many home sellers can pick and choose from multiple offers that often exceed their asking price by several thousand dollars, real estate agents have said. Frustrated buyers, meanwhile, find themselves in bidding wars where there’s only one winner and many losers.

Van Wieren said he recently wrote four offers for buyers that he’s representing, but they lost out on every one of the houses they bid on. One of their bids included an escalation clause that upped his buyers’ offer by $40,000 on a $460,000 house, Van Wieren said. But it wasn’t enough.

“It’s just painfully tight at the moment,” he said of the supply.

The housing shortage is especially tough on veterans, Van Wieren said. Because a Veterans Administrations loan doesn’t require a down payment, many veterans come to a deal with no cash on hand. If they wind up in a bidding war and need money to close a deal, they can’t compete, he said.

The shortage and the steady demand also continue to drive up prices.

The median price of homes that were sold in January rose 14.3% on a year-over-year basis to $385,000, which tied the record high set in September, the Realtors Association report shows. The median is the midpoint of all sale prices; in January, half of the homes that sold went for less than $385,000 and the other half went for more.

Local home prices are on a more than six-year streak of increases; they’ve risen on a year-over-year basis every month since December 2014.

Home sales totaled 971 in January, up 6% from the same month a year earlier, the Realtors Association report showed.

The home supply and sales figures in the report represent properties handled by Realtors Association members and don’t include homes listed for sale by individuals. Most of the home sales in January — 86% — took place in El Paso County."
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Old 02-09-2021, 09:54 AM
 
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yay
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Old 02-23-2021, 09:38 PM
 
1,590 posts, read 2,751,779 times
Reputation: 2499
https://krdo.com/news/top-stories/20...i3gItSvx1g3SK0
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Old 03-03-2021, 08:18 AM
 
1,225 posts, read 1,430,169 times
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it is even worse in UTAH right now with people fleeing in CA, the housing prices are skyrocketing, one article said up at least 20 % this yr.
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