Mariana Wagner

Top 7 Things to Consider When Buying a Loft or Condo in Colorado Springs by Gretchen Faber

Forward: The Colorado Springs Real Estate Connection, and the Wagner iTeam wecomes guest-blogger, Gretchen Faber of the Lifestyle Denver real estate blog as a guest-writer. Gretchen Faber is currently the Broker Manager at The Kentwood Company at Cherry Creek and serves as a Director on both the Denver Board of Realtors and the National Association of Realtors. She has a website, www.gretchensdenver.com and writes the blog www.lifestyledenver.com.

We are seeing a rise in condo and loft living in downtown Colorado Springs real estate and Manitou Springs real estate markets. Gretchen specializes in condo and loft properties in Denver, and we welcome her and her vast knowledge regarding urban and city life.

Read the Full Article: Gretchen Faber’s Top 7 Things to Consider When Buying a Condo in Colorado Springs or Denver

Lofts and condos are hot properties in the city, and even at the edge of the urban core.  Condo and Loft Buyers in Denver and Colorado Springs are looking for a specific lifestyle – they can lock and go, leave for extended periods, maintenance is care-free and the potential of a social network is alluring.

Here are several important factors to pay attention to when buying a Loft or Condo in Denver or Colorado Springs:

1. Location, location… – Yes, the old real estate cliché isn’t really a cliché at all – it’s vital to both your enjoyment while you live in your condo, and it’s also important for eventual resale.  Pay attention to what’s nearby, a freeway or a deli?  An expansive view or the side of the wall across the alley?

2. HOA – The Homeowners Association should be adequately researched before you make the final commitment to purchase.  This review period is typically built into the Colorado real estate contract.

Questions to ask are:

• Does the HOA have adequate reserves?
• Are there any special assessments on tap that the individual homeowners may be assessed?
• Is there any pending litigation?
• How do the dues compare to nearby buildings?
• Are there any pet restrictions?

3. Parking – The parking situation can vary from building to building.  In some buildings, the parking is reserved and is conveyed with the ownership of the unit.  This is preferable as you’ll then be the owner of the space.  In others, there is a “right to use” and you’ll usually be assigned a space by the HOA.  This isn’t necessarily bad, but just remember that those spaces can be reassigned at the whim of the HOA.  When you’re looking at the unit, make sure to take a look at the parking as well.  In some buildings, the sizes of the spaces vary, and you may not be able to fit you car into it if it’s small or next to a post.  Also check out if storage comes along with your unit.

4. Amenities – Ask what amenities the building offers.  It can be vastly different from building to building.  Some buildings offer health clubs, full-time security, valet service or pet-care. Others are really basic, with just an elevator and a shopping cart to get your things upstairs.  This should be reflected in your monthly HOA dues, and is a good way to compare with buildings nearby.

5. Insurance – Look into what the insurance situation is, it’s usually covered in part by the HOA dues.  Sometimes the exterior insurance doesn’t cover the roof, but typically with a condo or loft it would, with a town home it wouldn’t.  You’ll want to ask your insurance carrier about “condo insurance”.  This is stud-to-stud insurance and covers more than just your personal belongings.  In the event of a kitchen fire or a bathroom flood, condo insurance would have you covered.

6. Who Occupies the Building? – Are the primary residents’ owners or renters?  If the building is full of renters, you may want to look elsewhere.  It’s good to have homeowners who are vested in the building living there.

7. Price compared to others – Finally, when preparing an offer on a loft for sale in downtown Colorado Springs or Manitou Springs, make sure to look closely at where the other units are priced.  In residential real estate we often look at “price per square foot”.  In some cases that’s a superficial way to evaluate a property’s worth, and there are many factors to consider, such as level of finish and size.  But in a condo or loft you do not want to be the highest price per square foot in the building.

Enjoy your loft lifestyle, it’s fun, easy and a great way to own a home without the yard-work!

Check out these other great articles by Gretchen Faber:
Riding Out the Storm and  8 Ways to be Green

Written by Gretchen Faber – Broker Manager – The Kentwood Company at Cherry Creek
303-331-1400 www.LifeStyleDenver.com; www.GretchensDenver.com

Thank you, Gretchen for your awesome contribution to the Colorado Springs Real Estate Connection

September 1st, 2008 by Mariana Wagner | 3 Comments »

Westside and Downtown Colorado Springs Real Estate Market Report for July 2008

The Westside and Downtown Colorado Springs real estate market for June 2008 includes the Colorado Springs MLS areas of Old Colorado City, West, Central, Downtown and the areas of Ute Pass to include Chipeta Park and Green Mountain Falls.

Downtown and Central Colorado Springs Real Estate Market – July 2008

Single Family Homes in Downtown and Central Colorado Springs

• Active homes for sale: 328
• Homes sold in July 2008: 47
• Average Sale Price: $182,604
• Median Sale Price: $162,000
• Average Days on Market: 69 days
• Average Sale Price/List Price: 96.3%

Townhomes and Condos in Downtown and Central Colorado Springs

• Active homes for sale: 92
• Homes sold in July 2008: 11
• Average Sale Price: $176,568
• Median Sale Price: $162,000
• Average Days on Market: 76 days
• Average Sale Price/List Price: 94.5%

The Downtown and Central Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Downtown, Patty Jewett, Knob Hill and the Old North End.

Search Homes for Sale in Downtown Colorado Springs

Old Colorado City – Colorado Springs Real Estate Market – July 2008

Single Family Homes in Old Colorado City

• Active homes for sale: 123
• Homes sold in July 2008: 16
• Average Sale Price: $235,336
• Median Sale Price: $197,850
• Average Days on Market: 108 days
• Average Sale Price/List Price: 98%

Townhomes and Condos in Old Colorado City

• Active homes for sale: 48
• Homes sold in July 2008: 2
• Average Sale Price: $183,750
• Median Sale Price: $183,750
• Average Days on Market: 113 days
• Average Sale Price/List Price: 97.4%

The Old Colorado City real estate market is found west of I-25 and includes the streets to the immediate north and south of W. Colorado Ave.

Search Homes for Sale in Old Colorado City

Westside Colorado Springs Real Estate Market – July 2008

Single Family Homes in Westside Colorado Springs

• Active homes for sale: 130
• Homes sold in July 2008: 18
• Average Sale Price: $230,047
• Median Sale Price: $206,825
• Average Days on Market: 98 days
• Average Sale Price/List Price: 97.2%

Townhomes and Condos in Westside Colorado Springs

• Active homes for sale: 63
• Homes sold in July 2008: 4
• Average Sale Price: $322,250
• Median Sale Price: $221,500
• Average Days on Market: 58 days
• Average Sale Price/List Price: 94.5%

The Westside Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Kissing Camels, Pleasant Valley, Holland Park and Gold Hill Mesa.

Search Homes for Sale in Westside Colorado Springs

Ute Pass - Colorado Springs Real Estate Market – July 2008

Single Family Homes in Ute Pass

• Active homes for sale: 26
• Homes sold in July 2008: 4
• Average Sale Price: $259,425
• Median Sale Price: $250,500
• Average Days on Market: 36 days
• Average Sale Price/List Price: 96.2%

Ute Pass is the stretch of Hwy. 24 that goes from Manitou Springs to Woodland Park and includes the Colorado mountain property areas of Green Mountain Falls and Chipeta Park.

“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period July 1-31, 2008.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market.”

August 10th, 2008 by Mariana Wagner | Leave A Comment

Downtown Colorado Springs Tejon Street Now Has 2-Way Traffic

Downtown Colorado Springs Tejon Street Now has 2-Directional traffic for the first time in 37 years.

Derek and I were driving downtown after attending the CAMP Benefit Concert, when we noticed that Tejon no longer was just a South-Only street! It was very odd to see traffic coming AT us on a street that formerly only offered one-way travel.

Per a recent Colorado Springs Business Journal article (CSBJ) this decision was made for the benefit of local, downtown businesses:

“The change comes at the request of downtown businesses after a study commissioned by the Colorado Springs Downtown Partnership showed that a two-way environment would likely increase traffic volumes and business sales along the one-way portion of Tejon.”

There are all kinds of “Look Both Ways” signs at every corner to help pedestrians remember that there will be cars coming from both directions when they go to cross the street.

This will be an interesting adjustment for Downtown Colorado Springs.

April 26th, 2008 by Mariana Wagner | Leave A Comment

Downtown Colorado Springs and Old Colorado City to Receive New Easy Park Meters

Parking is always an interesting challenge in both Downtown Colorado Springs, as well as to the west of Colorado Springs in Old Colorado City. If you are not parked in a garage or you don’t have change in your cars, finding a spot to park your car so that you can enjoy the walking conveniences of these areas is hard, if not nearly impossible.

As found in the Colorado Springs Business Journal, Easy Park in Old Colorado City, Old Colorado City will now have 140 new Easy Park meters and Downtown Colorado Springs will receive 840 new meters!

These meters will take change as well as pre-purchased meter cards.

How convenient!

Search Homes for Sale in Old Colorado City Real Estate
Search Homes for Sale in Downtown Colorado Springs Real Estate

April 8th, 2008 by Mariana Wagner | Leave A Comment

Downtown Colorado Springs Real Estate and Information

Downtown Colorado Springs is located just west of I-25 north of about Cimarron (Hwy 24). If you are on the highway (I-25), you can take the newly reconstructed Bijou Street exit which will take you right into the heart of downtown Colorado Springs. Or, you can take the Uintah Street exit (just north of Bijou, off I-25), which will take you past Colorado College, where you will head South into the “city”. Coming from the south, you can exit on Cimarron Street and head north on Cascade or Nevada Avenue.

As a Colorado Springs real estate agent and (local Colorado Springs blogger), I am always carrying my new camera around. I love to take pictures of Colorado Springs and all the wonderful things that Colorado Springs has to offer. One of my favorite things to photograph is Pikes Peak. I love how our beautiful mountain can be seen from almost any of our Colorado Springs neighborhoods, particularly Downtown Colorado Springs.

Here is a picture of Pikes Peak from just east of the intersection of Nevada and Platte Avenue, in downtown Colorado Springs. See the statue of General Palmer there to the left? It is in the dead center of the intersection. The second picture is taken from the opposite corner with Palmer High School in the background.

Downtown Colorado Springs has some great culture – even though we really have not been around as long as many other cities in the nation. In fact, the “first stake” was driven into our city only 136 years ago.

Read More: Colorado Springs History

One of my favorite places to visit is the Pioneer Museum, which offers an abundance of rich, local history and their exhibits are always changing, so it is always a new adventure.

Read More: Colorado Springs Pioneers Museum – Downtown Colorado Springs

Another think I love about Downtown Colorado Springs, is the fact that it is not a huge metropolis. It is actually quite intimate and offers all kinds of great things: shopping, entertainment, restaurants, parks and other local businesses just a short walk from each other. Or, you can take the free shuttle around downtown, if you prefer.

There is artwork on every corner – from beautiful to rather obscure, but each piece adds such character to our great city.

Read More: Colorado Springs ~ The “Art” of the Downtown Experience

Make sure you check out some of OUR favorite places in Downtown Colorado Springs:

• FOOD: Jose Muldoons - Mexican restaurant with great atmosphere and live music.
  222 N. Tejon – Just west of Acacia Park
• COFFEE: Boulder Street Coffee Roasters – Local coffee roasters and coffee shop on the SW corner of Boulder Street and Tejon.
• ART: Colorado Springs Fine Art Center – Fantastic fine art shows throughout any season.
  30 W. Dale (adjacent to Colorado College) or 121 S. Tejon (Plaza of the Rockies)
• MUSEUM: American Numismatic Association Money Museum: “Through the discovery of money, America’s largest museum dedicated to numismatics brings culture to life.  The museum explores art, history, science and much more to promote the diverse nature of money and related items.”
  818 N. Cascade – Across from Colorado College and the Fine Arts Center
• PARK: Acacia Park - City park and playground offering space to relax, and a home for all of Downtown festivals and festivities. between Platte Avenue and Bijou, Tejon and Nevada – Located across the street from Palmer High School and the Downtown Colorado Springs YMCA.
• PARK/ FARMERS MARKET: (NEW) America the Beautiful Park (Confluence Park)
  126 Cimino Drive -Just south of Colorado Avenue and West of I-25
• FUN: Uncle Wilbur Fountain – Art Sculpture/ Water Play Fountain/ Music Show in the SW corner of Acacia Park (at Tejon and Bijou.

[youtube]http://www.youtube.com/watch?v=5aEE4TYmpyE[/youtube]

You can’t forget about Downtown Colorado Springs Real Estate! Homes in downtown Colorado Springs range from historic mansions, to 1950′s bungalows to brand new lofts and condos. There is something for every person, in every walk of life in every price range in Downtown Colorado Springs.

One of my favorite things to do is walk/drive through Downtown Colorado Springs and just admire all the large historic homes that have either been kept as single family homes or broken into apartments for Colorado College students. My favorite streets to see some amazing historic homes are: Wood Avenue (West of Cascade and North of Uintah), Cascade Avenue (the stretch North of Bijou Street) and Nevada Avenue (North of Palmer High School).
View Larger Map

Downtown Colorado Springs is also home to Colorado Springs School District 11 as well as home to many beautiful churches and religious buildings.

Search All Homes For Sale in
Downtown Colorado Springs

• Homes for Sale in Downtown Colorado Springs
• Lofts for Sale in Downtown Colorado Springs
• Homes for Sale in the Old North End
  (Old North End, Hastings, Downtown North, Valley Park & Mayfair)
• Homes for Sale in Patty Jewett
  (Patty Jewett, Golf Club Acres & Columbia)
• Homes for Sale in Divine Redeemer
• Homes for Sale in Roswell

March 23rd, 2008 by Mariana Wagner | 1 Comment »