Colorado Springs is still a place where the average family can afford to buy a house and to prosper from the ever increasing home prices.

You may recently have seen reports about the foreclosure rate in Colorado Springs.  Or seen articles about the number of homes on the market.  The conclusion usually reached in these articles is that there is now a poor market. 

The reality is that this "problem" is over blown.  Houses in Colorado Springs continue to increase in value.  Homes may not be increasing in double digit numbers as they did in 2002, but according to the National Association of Realtors, home prices in Colorado Springs continued to increase at 4.9% in the 4th quarter of 2006 over median prices in the 4th quarter of 2006. 

As a real estate appraiser, I see the home values increasing.  Ye
s, marketing times for existing home sales have increased.  Yes, it is now a buyer's market.  But that means that when you go to buy a home, you are in an excellent position to benefit from the transaction.

Here are some real world examples of the Colorado Springs real estate rush.

In Briargate, homes have increased dramatically.

Briargate is in the northeast part of Colorado Springs.  In 2000, the average home price for a home that is 1200 sq. ft. to 2200 sq. ft. was $152,000. Today, using the exact same

 criteria, that same home sells for an average price of $198,000. The homes in Briargate have an average age of 1988 with many homes still being built. This is an every expanding neighborhood and has some of the best schools in Colorado Springs.

Lets check out a neighborhood that was on the lower end of value in 2000. Pikes Peak Park has always been a neighborhood for the blue collar working class. It is for the people who get out there and bust their butt everyday to make this city work. In 2000, the same home that could be purchased in Briargate for $152,000 cost $110,000 in Pikes Peak Park. Today that home in Pikes Peak Park costs $141,000. The houses are a little older in Pikes Peak Park, but they are also a little older (with an average age of 1969) but are still a great investment.

We done some pages about the various neighborhoods in Colorado Springs you can visit. 

Identify your Desires

If you are relocating to Colorado Springs, you must ask yourself some questions.  This information will help you determine where in Colorado Springs might want to live.  Consider these questions:

• What kind of neighborhood do you like? 
• Do you want established neighborhoods or a new home?
• What is your price range?
• Do you have kids who need to go to school?
• Do you want a park nearby?
• How far do you want to drive to work?
• Do you want to buy a house or rent?

I have a friend who hates to live in a house that has been lived in before. He is always looking for a new home. He never wants a "fixer-upper" or an aged house.

Sometimes, a new home is the absolute best way to go. Often, there is a tremendous amount of appreciation that occurs to a home in its first few years.

If you are interested in a new home, there are many new homes and new home developments that are going up in the Colorado Springs real estate market every day.  A real estate agent can help you narrow down the possibilities.

If you are in the military, you should seriously consider buying a house if you are able. Even if you are here for only a short time, there is always a rental market available if you are unable to sell your house before being transferred.  I recommend that you build for the future while you serve your country.

If you are considering buying a home, you should talk to someone who understands your special situation.  I highly recommend that you talk to Brooke Shepherd.

Brooke has the integrity and strength of character that you are looking for in a real estate agent.  It is so easy to become a real estate agent, that many people have become agents in order to make a quick buck.  They are playing the real estate game with your time and money. 

Please visit our military relocation page to get more detailed information about life in Colorado Springs for military personnel and their families.

Tired of Colorado Springs real estate?  Go back home.