Buy House Colorado

Buying and selling real estate is a difficult job. It’s a fast paced industry with many rewards if you know what you’re doing. A good case scenario is when a house is sold in minutes, hours, days or weeks. The worst case scenario is when it sits on the market for months or even years. This is why having up to date information is vital to “win” in this industry. I will offer some helpful tips to make the house buying and selling process in Colorado Springs a little more manageable.

Tips on buying Colorado Springs Houses

1. Acquire as much background information as possible before you decide to work with a bank, mortgage banker, credit union or any kind of institutional lender. In addition, make sure that you know beforehand all of the fees associated with a loan.

2. Do not put yourself in a position where you are over-obligated where certain things are concerned. Some areas are best to be left up to the seller to take care of. This is where good negotiating skills come into play.

3. Never make a purchase that is far beyond your financial reach or just about there. Even though Colorado Springs houses make great investments, you want to take into account the fact that anything can happen in this economy pertaining to your financial status. Therefore, the ideal house should be 25% to 30% lower than your present income so you can still afford it.

4. Whether or not you have decided to use a real estate agent, you should make a list beforehand of what you are looking for. You should determine what areas are crucial like a good school district or being close to work and what you are willing to sacrifice such as granite countertops or a whirlpool tub.

Tips on Selling Colorado Springs Houses

1. They always say spring is the best time to put houses on the market. But besides the season, the best time to make sales is when interest rates are at their lowest. Low interest rates are beneficial to buyers and sellers and if you are both then there is no better time than the present.

2. When selling a house, you should ensure it is showcased in its best light. Basic home improvements can make a big difference in the real estate world. The exterior of the house should have curb appeal. Potential buyers should see your house from the outside and be excited to see what’s inside. Also, if the inside needs painting then take the opportunity to choose a paint color that will appeal to most buyers. Even simple things like fixing cracks, and giving the house a really good cleaning so it smells and looks good can have a great impact on house hunters.

3. If you want to sell your house on your own as opposed to hiring an agent, it may take longer. This is especially true in a buyer’s market where there are more sellers than buyers. In this case a real estate agent will have the upper hand because they have more contacts in the real estate community.

4. It’s best to sell your house at market value. Going higher can discourage a lot of potential buyers. Also, it’s better to appeal to a wider market than take the chance of hoping that one person will want to pay it. In addition, you may end up getting more money anyway if you have a hot property as there may be competition with multiple bids.

Colorado Springs has been rated as one of the best places to live in all of the United States. And if you look at its natural beauty, its booming tourist industry, and its beautiful year round weather, it is easy to see why. Each year, many of Americans decide to set up home in Colorado Springs. If you are considering doing the same, this article is for you. Throughout, we will discuss the three steps that you need to follow to find your dream homes Colorado Springs.

The first step that you need to take when searching for homes in Colorado Springs is to find a real estate agent. When looking for an agent, you want to choose one that is located right in Colorado Springs. After all, if you are looking for your dream home, you want someone who is familiar with the area. A Colorado Springs real estate agent will be able to guide you, step by-step, in your search for the perfect home.  The best part about choosing a Colorado Springs agent is that they will be familiar with the area, being able to provide you with any information that you need. A Colorado Springs agent will be able to tell you where the best schools are, where the safest areas are, where the best family neighborhoods are, as well as anything else that you need to know.

Once you have found an agent, you can begin looking for houses. In looking for the right house, it is important to tell your agent what you are looking for in a home. Tell them both the things you need and the things you want. Do you need a 3 bedroom home? Are you hoping to find a home with a pool? Is a garage a necessity? The more you can tell your agent about what you are looking for, the better they will be able to narrow down the search for you. When looking for your home in Colorado Springs, your real estate agent can help you find homes, but you also have the opportunity to search yourself. Ask your agent for their MLS website so that you can explore Colorado homes on your own time.

Once you have found a home you like, the final step is the purchase. Before you purchase, however, it is important to have an inspector go through the home. Most homes that you find will be in great condition, but there is the odd home that will have problems that may be unnoticeable to the untrained eye. An inspector can help to ensure that you won’t run into any unforeseen problems after purchasing the house. If the inspector goes through and gives you the thumbs up, it is time to make your purchase. Your Colorado Springs real estate agent will help you to negotiate the price, after which you can sign and date the paperwork!

If you are looking for homes Colorado Springs area, begin searching for a real estate agent today. A Colorado Springs agent will be able to tell you everything you need to know to help you find the perfect house and perfect location for your new home.

So, you’re looking for the perfect house for sale Colorado Springs? If so, you’ve come to the right place! Choosing the right house is a huge deal. For many years to come, this house will become your home. We all wish we could search through homes, find our dream home, and call it a day. But sometimes purchasing a home isn’t quite so simple. Just because a home has your ideal design doesn’t mean it is the home for you. There are many other things that you must consider first. Let’s take a look at the four C’s of home buying to help you find the right house in Colorado Springs.

The first C of home buying is cost. This is a biggie. Just because you have found your dream home doesn’t mean you can afford it. Buying a home includes many considerations. Not only will you need to pay for the home, but you will also have property taxes, utility bills, water bills, and other bills that come along with purchasing a house. It is important to take each of these things into consideration when determining how much you can afford. Once you have decided how much you can afford, search only within your price range. Searching above your means may lead you to find your perfect home, only to be crushed that you can’t actually have it. Searching within your financial means will ensure that you find a house you can love and can afford in Colorado Springs.

When looking for a house for sale in Colorado Springs, the second thing you must consider is capacity. Does the house have enough room to fit all of your belongings and your family? When searching for a home in Colorado Springs, be sure to let your realtor know exactly what you are looking for in terms of capacity. Are you looking for 1,2,3, or 4 bedrooms? Do you need a garage? What about a backyard? Is it necessary to have more than one bathroom? Sharing your needs with your realtor will help them to narrow down your search, ensuring that you only explore houses that meet those needs.

The third “C” of house shopping in Colorado Springs is convenience. When purchasing a home, you will want it to be in a convenient location. Perhaps you will want to look for a home that is close to your work. Or, if you have children, you may want to search for a home that is close to a good school. Once again, letting your real estate agent know exactly what you are looking for will help to narrow down your search, making you one step closer to buying your ideal home.

The final “C” of purchasing a house in Colorado Springs is condition. Just because you have found a house that looks great on the outside, doesn’t mean that it is in good condition. Before you make your final buy, always be sure to have a home inspector come in to check for anything that you may not be able to spot on your own. The majority of houses you come across will be in great condition, but it is important to double check before you buy.

So, there you have it – the four C’s of purchasing a home. Use these to help you find the perfect homes for sale Colorado Springs for you and your family in!

Are you looking for Colorado Springs houses? If so, you have come to the right place. Colorado Springs is a great place to set up home and start a life. If you are planning to look at houses in the area, however, it is important that you know exactly what you are looking for. Having a checklist handy when you search through houses will help you keep track of the advantages and drawbacks of each home. Let’s take a look at some things that you may want to include in your checklist.

When looking at houses in Colorado Springs, one of the first places you will want to look is in the exterior of the house. Preferences will vary when it comes to the outside of a home. Families with children or dogs, for example, may require a large, fenced in yard. Others, on the other hand, may not worry so much about the size of the yard. Regardless of your preferences, it is important to note what each house has to offer. When recording information about your houses, be sure to note the size of the lot, the condition of the landscaping, and whether or not the yard is fenced in.

When looking at the outside of a house in Colorado Springs it is also important to note the condition of the siding, as well as the condition and age of the roof. Roofs can cost a lot of money to fix, so you want to ensure that you will not have to replace one when you purchase your new home. Also, be sure to check if there are any cracks or holes in the foundation of the home. Finally, record whether the home has a garage, as well as how many cars the garage will hold.

When it comes to the inside of the home, be sure to take note of the size of each room. Check all windows and doors to ensure that they open and close without any hassle. When you get to the kitchen, be sure to ask if any of the appliances are included and, if they are, note what condition they are in. When it comes to the bedrooms, check how much closet space is available and note which type of flooring is used. In the bathrooms, be sure to check that everything is working well. Run the facets and flush the toilets to make sure that they are working properly and that there is good water pressure.

If there is a basement, be sure to make note of whether it is a partial or full basement and whether it is finished or unfinished. Always be sure to ask about different utilities of the home such as water service, plumbing, heating, insulation, and electrical.

The above are just a general guideline to help you take notes when looking at homes. Other things you may want to record include the price of the home, the location of the home, the property taxes, the terms of the mortgage, and, of course, whether or not you could picture yourself living there.

Making checklists as you search through homes may not seem necessary, but they will definitely help you when it comes down to picking between several great homes. Begin searching for Colorado Springs houses area today and find a house that you can make a home.

Are you looking for property in the Colorado Springs area? If you are, be assured that this city will offer anything that you are looking for. Colorado Springs has a variety of beautiful houses to choose from. To learn more, continue reading this article. Throughout, we will discuss everything that Colorado Springs MLS listings have to offer.

When it comes to Colorado Springs, there are a wide range of MLS listings to search through. Whether you are looking for an apartment, a two story home, or a 4 story mansion, a Colorado Springs realtor will surely be able to help you find what you are looking for. Let’s take a look at your options. The first thing that you need to consider when looking for a new home is your price range. Whether you are looking for a small, simple, bachelor style home for under $100, 000 or a large, 5 bedroom, 3 car garage mansion, you will find a home to suit your needs in Colorado Springs. On top of finding the right price range, a Colorado real estate agent can also help you to find the perfect type of housing. Perhaps you are looking to buy a house? Or maybe you are interested in renting an apartment? Whatever you are looking for, you will be able to find it within the Colorado Springs MLS listings.

Aside from searching for the right price range or housing type, Colorado Springs MLS listings and real estate agents can also help you to find your perfect home by searching different amenities. With MLS listings, you can easily limit your housing search by searching for number of bedrooms, number of bathrooms, or any other preferences you may have!

When it comes to MLS listings in Colorado Springs, you may also wish to search by location. There are plenty of great locations within Colorado Springs including Blackforest, Briargate, Old Colorado city, Peyton, and Pueblo to name just a few. If you already have a location in mind, feel free to limit your search to this specific area. If not, take time to explore each area separately. Each area in Colorado Springs has something unique and different to offer. The one thing that all of these locations have in common? They are all beautiful, well cared for neighborhoods that are the perfect place for raising a family.

If you are looking for a home in the Colorado Springs area, check out some of the cities many MLS listings. If you do not feel comfortable doing this yourself, a real estate agent will be happy to help you through the process, narrowing down your housing preferences as you go. Feel free to search the MLS listings by location, by price range, by housing type, or by special amenities. Colorado Springs has plenty of beautiful homes and apartments to choose from, so be sure to take your time and look around carefully. If you haven’t found what you are looking for yet, be assured that you will shortly! Colorado Springs has plenty to offer and has something for everyone!

Are you looking for the perfect place to reside? If so, Colorado Springs may be the place for you! Colorado Springs, located in the South Central part of the U.S. State of Colorado, is absolutely perfect for singles and families alike. On top of having hundreds of beautiful homes to choose from, Colorado Springs, U.S.A. also offers beautiful weather, gorgeous scenery, and many fun and exciting outdoor activities for you and your family. Voted one of the best places to live in America by CNN money, Colorado Springs is one place that you will definitely want to check out for potential homes.

When it comes to weather, Colorado Springs offers beautiful weather year round. With an average of 249 days of sunshine, it is hard to make any weather based complaints! Here in Colorado Springs, the summers are beautiful, the winters are cool, and the precipitation is rare. In summer, temperatures generally range between 80 and 90 degrees, making it hot, but not unbearably so. Winters are cool, but once again the weather is mild, rarely seeing temperatures below 28 degrees. As for precipitation, Colorado Springs receives an average of 16.2 inches each year, making it highly unlikely that you will ever get stuck inside due to bad weather!

If the weather in Colorado Springs isn’t enough to make you search for homes here, perhaps the scenery will be. Here in Colorado Springs you will find over a dozen different parks, hiking trails, and biking trails. Whether you want to hike through the mountains, explore the beautiful and unique rock formations, or just enjoy a picnic in the park with your family, you can do so here in Colorado Springs. The Garden of the Gods, Pikes Peak, Palmer Park, and Seven Falls are just a few of the many nature based parks that you will be able to explore if you decide to purchase Colorado Springs homes.

On top of gorgeous scenery and beautiful weather, if you decide to live here in Colorado Springs, you and your family will never go bored. When searching homes for sale in Colorado Springs, do not hesitate to check out all of the surrounding activities. If you decide to live here, you will have easy access to plenty of fun and exciting attractions and activities including Royal Gorge Bridge, Cheyenne Mountain Zoo, Cave of the Winds, and Miramont Castle.

Regardless of what you are looking for in a real estate property, Colorado Springs has it all. Gorgeous year round weather, beautiful scenery, and a variety of fun and recreational activities are just a few of the many things that make Colorado Springs one of the best places to live in America. On top of all these things, Colorado Springs has a wide variety of beautiful homes to choose from. Whether you are looking for an apartment, a one story home, or a mansion, you will find what you are looking for in this wonderful city. Contact a Colorado Springs real estate agent today and check out all of the beautiful homes for sale Colorado Springs.

Buying a home is one of the biggest and most important investments you will ever make. This is why choosing a home should never be a snap decision and should only be based on the best and most reliable information there is. When searching for Colorado Springs homes, your first step is to hire a realtor. A Colorado Springs home realtor will able to guide you through the process of finding the perfect home, ensuring that you get the most for your money. Let’s take a look at some of the many ways a realtor can help you to find Colorado Springs homes.

Upon meeting with a realtor for the first time, one of the first things that you will discuss is your personal preferences. Because Colorado Springs real estate agents are familiar with the homes in the area, they will be able to match your needs with the perfect home. Be sure to tell the realtor what your budget is, what size you are looking for, what features you are looking for, and how close you wish to be to schools, hospitals, or other amenities. Once your realtor has this information, they can search through their MLS system, narrowing down houses in Colorado Springs to ones that match your needs.

If you are unsure of how to go about getting a loan or are unsure of how much you can afford, a realtor can help you with this as well. Purchasing a home involves a lot of financial investments, some that we may not think of right away (utilities, land taxes, etc). Realtors can help you assess your financial alternatives, as well as help you determine how much you can actually afford after all costs are taken into consideration.

When searching for Colorado Springs homes, it is important to hire a Colorado Springs realtor. Colorado Springs realtors are extremely familiar with the different neighborhoods and will therefore be able to provide you with accurate information about your potential living area. Whether you want to know about zoning laws, property taxes, utility costs, or community services, your Colorado Springs realtor will be able to answer all of your questions.

Once you have found your ideal Colorado Springs home, your realtor will be able to help you negotiate the terms of your purchase. Your realtor will communicate to the seller for you, negotiating deals until both parties are happy with the purchasing terms. Once the negotiations are final, your Colorado Springs realtor will help you to handle all of the legal processes involved in purchasing a home. This will involve things such as purchasing home insurance, registering your mortgage, and your legal fees.

If you are looking at Colorado Springs homes, be sure that you hire a realtor to help you in your journey. A Colorado Springs agent will be able to guide you through the process of finding a home, negotiating with the seller, and completing all legal paperwork. Search for Colorado Springs home realtor today and be one step closer to finding your dream home.

Looking for a new location to reside? If you are, Colorado Springs may just be the perfect place for you. Located in the South Central area of Colorado, U.S.A, Colorado Springs has real estate that is both affordable and beautiful. Not only does Colorado Springs have a large selection of beautiful homes to choose from, but it also offers beautiful year round weather, a comforting and safe community, and fun recreational activities that you and your family can enjoy all year. After reading this article and learning about all that the real estate in Colorado Springs has to offer, this city will definitely become one of your top choices in moving locations.

Buying real estate property in the Colorado Springs area will ensure that you experience what year round beautiful weather really feels like! With an average of 249 days of full sunshine, the weather in Colorado is sure to brighten your mood. Colorado Springs offers residents nearly perfect summers, mild winters, and extremely low amounts of precipitation. In the summers, temperatures in Colorado Springs generally range between 80 and 90 degrees. While you may find the odd day of extreme heat, temperatures rarely rise above 100 degrees. Winters are just as nice.

Although the days and nights can get cool, the average winter temperatures in are in the 30 degree range, making it much more bearable than below freezing temperatures!

Not only does Colorado Springs offer gorgeous weather conditions, it also offers a community environment that is great for raising a family. A great city for raising children, Colorado Springs is a community in which children can excel, learn, and receive a top of the line education. With over a dozen elementary schools, half a dozen middle schools, and half a dozen high schools, Colorado Springs has plenty of educational opportunities that will allow your children to flourish. On top of these schools, Colorado Springs also offers alternative schools and charter schools to accommodate the needs of any family type.

While not in school, you can enjoy some quality family time exploring some of Colorado Springs many popular attractions. One of the most popular things to do in Colorado Springs is explore their beautiful, nature filled parks. Whether you are interested in hiking through the mountains, picnicking and playing sports, or exploring the natural rock formations, Colorado Springs has a park for you. Not only does Colorado Springs have a variety of outdoor activities to choose from, but it also offers top of the line dining, beautiful shopping malls, and plenty of other family friendly activities.

If you are looking for a great place to set up home, Colorado Springs has it all. From beautiful weather, to flourishing educational opportunities, to fun filled parks and attractions, Colorado Springs has something for everyone. Not only is it the perfect place for singles, but it is also the perfect place to raise a family. Contact a Colorado Springs Real Estate agent today and start exploring your options in this wonderful city!

With Colorado Springs houses County, Colorado being home to Fort Carson, Peterson Air Force Base, Schriever Air Force Base, Cheyenne Mountain, the Colorado Springs Air Force Academy, and countless military contractors who heavily recruit retired military personnel, VA Mortgage Loans are not only a common loan type, but local market driver. Because of the demand for these types of mortgages in Colorado Springs, we at Pink Realty want to answer the Top 10 questions that military and retired military home buyers have about VA mortgages.

Question 1: What is the VA Mortgage Lending Limit?

According to our in-house lending specialist, Tammy, the VA mortgage lending limit is $417,000 in Colorado Springs. While this limit is set for most areas of the country, the VA lending limit can be as high as $1M for other parts of the country that have higher average home prices, such as Washington DC, California and Hawaii. Additionally, while the VA sets their limit, this does NOT limit the veteran to a house priced at $417K or less. For example, let’s say you want to purchase a home priced at $500K. That’s $83K higher than the VA guarantee limit of $417K. If your VA eligibility is $417K and you qualify for the higher loan amount from your lender, you can purchase the $500K home with a down payment of 25% of the $83K difference ($20,750) and your lender will lend you the other 75% of the difference or $62,250. Therefore, your loan amount would be $417K, plus $62,250 or $479,250.00. As long as you qualify for the higher loan amount and have the cash for the down payment, you can buy that $500K house.

Question 2: What is the VA Funding Fee?

The VA charges a VA Funding fee of 2.15% of the mortgage amount to first-time users who do not put pay a down payment on the home. This fee covers the cost to operate the VA loan program. After the first VA loan, the funding fee is increased to 3.3% of the mortgage amount if the veteran does not pay a down payment. This fee does not have to be paid by the veteran out of pocket. It can be financed into the loan along with other closing costs, so there is no down payment required and no out of pocket expenses to the veteran.

Question 3: Can the VA Funding Fee be waived?

Did you know if you are discharged from service with at least a 10% disabled status you can get the VA funding fee waived? That’s right! Nearly 70% of the veterans today are discharged with at least a 10% disabled status. This not only gets the veteran a tax free check every month, but also allows them to purchase a home without having to pay the standard VA funding fee!

Question 4: Is my eligibility lost if I file Bankruptcy?

Filing Bankruptcy does affect your VA eligibility, but depending on what type of Bankruptcy you file, your VA eligibility is affected differently. If the veteran files Chapter 7 Bankruptcy, which is a total liquidation of their debts, the veteran must wait 2 years before they can qualify for another VA loan. If, however, the applicant files Chapter 13, which is a re-organization of their debts, the VA will consider lending to the applicant for another home purchase in as little as 12 months into the bankruptcy if the applicant receives permission from the bankruptcy court and can show they have paid 12 months of payments on the bankruptcy in a timely manner.

Question 5: Is my eligibility lost if I lose my house in foreclosure or sell my home as a short sale?

There have been a lot of foreclosures in Colorado Springs in the past couple so Pink Realty agents get this question quite a bit. Whether a veteran looses their home in a foreclosure or sells their home as a short sale, if the VA suffers a loss, they do not forgive or forget the loss. However, this does not mean the veteran loses their eligibility. The amount the VA loses on your home, whether via a foreclosure or short sale, gets subtracted from your total eligibility. What this means is if you were elegible for a VA guarantee of $200K and the VA lost $100K on your loan, your VA eligibility is reduced by the amount of the loss and is now $100K. If the deficiency is repaid to the VA, the veteran’s eligibility is fully restored.

Question 6: Can I use my VA eligibility more than once?

Yes! Veterans can use their VA eligibility as many times as they want but only on one house at a time. To use the eligibility again, the veteran must pay off the previous loan and provide proof to the VA, and your Pink Realty agent can help you with this. When a veteran has a VA loan on their home and they sell it, they must notify the VA that the home has sold and the mortgage has been paid in full. This restores the veteran’s VA eligibility so that it can be used again to buy their next home. If the veteran allows his VA mortgage to be assumed by another eligible veteran (and this is never a good idea) and the assuming veteran is not willing to substitute his own VA eligibility to the original veteran, the original veteran’s eligibility is reduced by the amount of the loan that was assumed. Once the assuming veteran pays the loan in full, the original veteran’s VA eligibility is restored.

Question 7: What kind of properties can I buy?

The VA does not lend on any property that is not intended to be used as the applicant’s primary residence. Should an applicant want to purchase a duplex, tri-plex or any 2 – 4 unit building as an investment, the VA will grant a VA mortgage loan as long as the applicant intends to occupy one of the units as their primary residence. The VA also requires that the home be in move-in and livable condition at the time the loan is made. The VA does not lend on uninhabitable properties, raw land, commercial property or any other property that will not be considered the applicants primary residence.

Question 8: Can I buy more than one property at a time?

The VA only issues mortgages on the veteran’s primary residence. This does not keep the veteran from being able to purchase other properties, though. If the veteran wants to purchase another property, such as an investment property, and they qualify for both mortgages, the veteran can secure other, non-VA financing to purchase other property. If you would like to discuss the other loan types that may be available to you, our in-house Pink Realty lender would be happy to help you. Just call our office at 719-393-7465 (Pink) and ask to speak to the lender.

Question 9: Who can apply for a VA loan?

VA loans are for military personnel and veterans. If a military applicant wants to include another person on their VA mortgage, the only acceptable co-applicants are the applicant’s spouse or another VA eligible applicant. Family members, friends, relatives and/or ‘significant others’ can’t be on a VA Loan with the applicant. If there are
credit issues with an applicant’s spouse, the applicant does not have to include the spouse on the application.
However, the debts of the spouse must be included so the VA has knowledge of the total liability at stake. Sometimes, the spouse’s total debt causes the debt to asset ratio to be too high to qualify for the loan. In this case, if the spouse works and has been at their job at least 2 years, the spouse’s income, up to the total monthly debt liability, can be included on the application to offset the spouse’s debt. This generally allows the debt to asset ratio to fall back in line for approval of the loan.

Question 10: What does my Credit Score have to be?

At time this article was written, the VA looks for scores of 620 or higher. (Please feel free to call Pink Realty at any to check to see if loan guidelines have changed. We are always here to help.) If the applicant’s score is a little lower than this, Pink Realty lender will work closely with the applicant to see what can be done to raise their score, and many times we can help a borderline applicant buy a new Colorado Springs home. The first item addressed is whether or not the credit report is accurate. More than 80% of the credit reports run today contain errors. Just removing the errors alone may raise the applicants score. Improving their credit score may also mean paying down a credit card balance so the outstanding balance is 50% less than the credit limit on the account or it may be as simple as paying a few low balance accounts off. Sometimes this is all that’s needed to bring the credit score up to the approval score limit. Remember that your credit score is very specific to you, and we would be happy to evaluate your situation for free any time. Just call our office at 719-393-7465 (Pink).

We hope this article answered some of your questions about VA mortgage loans so when you are in the market for a VA loan, you are ready. For more information on VA home loans, you can call a Pink Realty agent or lender at any time.Please stay tuned for more informative articles. Stop by the website regularly for new and updated information.

While the economy has created a ‘buyers’ real estate market with home values plummeting and Colorado Springs foreclosures soaring, who’s buying up the properties that are for sale? While first time home buyers are on the decline and previous buyers are being turned down because of tight credit conditions, Pink Realty agents are seeing that those with cash are the ones bringing the deals to the table. And today, it’s typically the investors that have the cash! Per Lawrence Yun, Chief Economist for the National Associate of Realtors (NAR), “Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes.”

On February 23, 2011, Jon Prior of the NAR summarized the housing sales for January 2011. All-cash sales increased to 32% of all sales in January, which was up from 29% in December 2010. Additionally, it was investors that grabbed more of the market share by accounting for 23% of all buyers in January, up from 20% in December 2010 and up 17% from one year ago.

While many investor home purchases will result in a traditional fix and flip sale, the current rental market and trends are also providing a great profit opportunity for investors. The demand for rentals in Colorado Springs is on the rise because more people are being turned down for home loans and more people are being displaced because of foreclosure or selling their home on a short sale. Colorado Springs has become a hot rental area because of the number of military personnel in the city, but also because the economy and housing market has caused so many homeowners to lose their homes to foreclosure or because they had to sell their home as a short sale. All these people are in need of housing and looking for rentals. This demand has resulted in less than 1% vacancy in Colorado Springs. Traditionally in Colorado Springs, the 3 bedroom home was always the highest in demand and considered the ‘sweet spot’ in the rental market. The 3 bedroom homes were always rented, never vacant and there were never enough of them to meet the demand for them. The larger homes that were for rent were not in demand and stayed vacant.
However, today the demand for 4 and 5 bedrooms homes is increasing. As more and more middle class families are displaced, the need for the larger rentals increases. These larger rentals also bring a nice price point to the balance sheet. The current rental rate for a 3 bedroom single family home is $1140 per month and the 4 and 5 bedrooms are $1374 and $1789 respectively.

Call Pink Realty today at 719-393-7465 (Pink) to talk to an agent and see what great deal is out there waiting for you!

There is no doubt the opportunity for investors to ‘snag the keepers’ is now.

While wholesaling and fix and flips bring fast and big profits, more investors are adding the right ‘keepers’ to their portfolio mix as rentals for additional long-term passive income. With the market trend shifting toward larger rentals, investors should also note that the larger homes with higher mortgages tend to get discounted more by the lenders when working a short sale. Many of these higher end homes are simply in need of paint and carpet. We have seen nice homes in the Stetson Hills area that needed as little as paint, carpet and linoleum flooring, but the homeowners couldn’t sell to a retail buyer because the buyers wanted a completely fixed home. Investors can buy homes for sale Colorado Springs for around $125K and get them turned into great rentals for about $10K. Cash flow on these short sales or bank owned properties would be very high.

If you call a Pink Realty agent, we would be happy to scour the market for you and find you a great property that will meet your needs.

Are you an investor who wants the upside of an investment property and today’s really cheap prices and huge cash flows but don’t want to at it alone?

The owners of Pink Realty are active, experienced investors and are always looking for partners on deals. Just give is a call at 719-393-7465 (Pink) and ask to talk to Russ or Monica about partnering on deals. We would be happy to talk to you. Just tell us what you want to bring to the table and we will see how we can work together.

• Do you qualify for the loan to buy the house? A common strategy investors are using now is to buy houses with cash, remodel the houses and then refinance the property with zero money out of pocket. We have investor friendly lenders ready to do these types of loans.

• Maybe you have a small amount of cash available and we can short a 2nd loan and bring the 1st mortgage current on a good property.

• Maybe you have a larger amount of cash available making 1% at the bank or in an IRA and you want to do something more productive with it but don’t know exactly how. We can find a really cheap house that we can buy, fix up, and rent.