Even before the start of the Covid-19 pandemic, we've seen a strong seller’s market in Colorado Springs. Sales for newly constructed homes are up, and existing homes are often selling above their asking price. Bidding wars between potential home buyers are common in the hot real estate market, but the August 2021 numbers are indicating the housing market is showing signs of cooling off.

A report from the Pikes Peak Association of Realtors (PPAR) shows the number of available homes for sale are down 6.1% from the previous year. The number of single-family homes are also down, but August 2021 still saw the second number of sales slightly behind July of 2020. The housing market may be slowing slightly and giving more buyers a chance to finally secure…

Despite the crippling COVID-19 pandemic, the Colorado Springs real estate market is healthy. Stay-at-home orders have reduced foot traffic, but buyer demand is still strong and the inventory of homes for sale in Colorado Springs remains low.

Although the momentum has slowed, we’re still helping customers buy and sell homes in Colorado Springs! The only thing that has changed is the process. Safety measures may seem restrictive, but they are in place to help protect both buyers and sellers.

Is Real Estate an Essential Service?

Are real estate transactions (buying and selling) considered “essential” in Colorado amid the COVID-19 stay-at-home order? Yes! All real estate activities that are related to the transaction (including closings,…

Many people call Colorado Springs home for multiple reasons whether it be the beautiful landscape, job opportunities, military transfers, or thriving business sector. It isn’t any wonder that U.S. News and World Report ranked Colorado Springs second in its “Best Places to Live” list. According to data from the U.S. Census Bureau, Colorado is the seventh fastest growing state in the country. If you’re interested in moving to Colorado, you’ll be pleasantly surprised to know that there are numerous local, state, and national down payment and mortgage assistance programs available to Colorado home buyers.

Many people feel they cannot afford to buy a home in Colorado Springs because they think they’ll need thousands for a 20% down payment or need an…

Sometimes qualifying for a traditional loan can be cumbersome with restrictions on credit and income. USDA loans are ideal for first-time Colorado homebuyers or anyone who has saved less than 20% for a down payment. USDA loans come with fixed interest rates and no money down.

Those with less than perfect credit scores will be relieved to know that the USDA has flexible credit guidelines. No assets are needed to qualify so you won’t have to worry about putting property up as collateral.

The USDA offers loans to people making low to moderate incomes, living in areas with smaller populations. These loans are backed by the U.S. government, so lenders are more open to lower credit scores and lower incomes. The lender knows that their money is safe…

If you experienced sticker shock when you received your real property notice of valuation from the El Paso County Assessor’s office, you’re not alone. Many residents of El Paso County are shocked by one of the sharpest property value increases in recent history. It’s the first time in 14 years, that the county has experienced such a hike which means larger tax bills for residents.

 These reassessments are mandated by law every two years. To show you the extent of the increase, consider this: In southeast Colorado Springs, values have shot up 37 percent. Higher valuation means higher taxes. The last time the county experienced double-digit increases was in the late 1990s and early 2000s.

 You can appeal your home’s valuation by filing an appeal…

One of the main reasons why people are turned down for a mortgage is a low credit score. That’s why it’s so important to start working on improving your credit score now if you plan to buy a home in the future. Your credit score serves as a numerical summary of your credit history. It tells lenders how you’ve paid your debts in the past whether that be credit cards, car loans, or college tuition. The score tells lenders how much of a risk you are as a borrower. It can also be used to gauge how much money they are willing to loan you.

How is your credit score calculated?

The three credit bureaus (Equifax, Experian, and TransUnion) calculate your score. They may include rental payments and even your employment history, but all three do not…

Many home buyers are unaware of ways to save money on home loans such as the assumable mortgage loan. This article explains what an assumable mortgage is and how it is used with VA loans to save veterans thousands in the Colorado real estate market. Active military service members and veterans looking for Fort Carson housing should take advantage of this often overlooked interest rate workaround. If you’ve ever wondered “Are VA loans assumable?”, this article will give you a detailed explanation of an assumable mortgage.

Assumable Mortgages

Not every loan can be an assumable mortgage loan. Only FHA and VA loans are assumable. It’s not a sure thing either because most assumable loans must be approved by the lender unless the mortgage was closed…

Home buyers can expect a triple whammy in 2019 with a continuing tightly competitive market (low supply), higher prices, and an interest rate increase. But all is not lost in the 2019 Colorado Springs real estate market. There are several welcome developments for home buyers and mortgage borrowers. New construction will include more affordable entry-level homes and mortgage lenders are easing the qualification requirements for loans. First time home buyers are getting much-deserved attention now in the real estate market, more so than ever before.

Below, is a list of housing and mortgage trends for 2019.

Need More Homes

The lacking supply of homes for the market will continue to lag in 2019, but it’s not expected to worsen. The number of…

There were 614,000 homes sold in 2017. 

Whether or not those homes were the right homes for buyers, however, is an entirely different matter. Finding the right kind of home that suits our needs and wants is possible when we know exactly what we're looking for and where. 

High competition and limited housing choices sometimes skew a buyer's mindset when selecting a home. Other times a lack of patience can also cause a buyer to make the wrong housing choice. Regardless of the reason why some buyers make these decisions, some end up selling after discovering the house just wasn't right for them. 

We all want to find our dream homes within our price range. We see our homes as symbolic to time with family, a sense of security, and as a reflection…

It isn’t any wonder that people flock to Colorado Springs for their next home. According to the U.S. News and World Report “Best Places to Live”, Colorado Springs ranked second! And data from the U.S. Census shows that Colorado is currently the seventh fastest growing state in the country. With that in mind, you might be surprised to know that there are also numerous local, state, and national down payment programs available to Colorado home buyers.

Many people don’t believe they can afford to buy a home, so they continue to throw away thousands of dollars in rent year after year. Sadly, these rental payments could be used to build equity on a home instead. One big reason for this is because many people are simply not aware of the first time home…