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The Colorado Springs Real Estate Market has had 2,531 foreclosures since 1/1/2008.

These numbers are higher than we have ever seen. Since 1981, the highest annual foreclosure rate was in 1988 with 3,476 foreclosures. Here is a snapshot of the foreclosure rate in the Colorado Springs area since 1981:

( source )

In 2008, we have been seeing an average of 422 new foreclosures started every month.

This means that by the end of the year, we will see a total of 5,064 foreclosures in the Colorado Springs real estate market.

This is almost 10x what it was in 1996. Unbelievable.

The sad thing about these statistics is that MANY of these homes did not need to foreclose.

Psychologically, once a homeowner realizes that they can no longer afford to make their monthly payments, they just ride out the months until the home sells at the foreclosure acuction. Sadly, most of these folks are facing foreclosure because of a mortgage rate increase or something traumatic happening to their life (divorce, illness, death, job loss, etc.) and cannot afford to refinanace. Chances are that even if they COULD afford to refinance, their home has not gained enough equity to let that happen anyway.

However, these distressed Colorado Springs homeowners are not alone. One in four people in Colorado Springs are in some state of financial distress with their mortgage. Yes, some may only be a month or 2 behind and are not facing imminent foreclosure yet, but there are A LOT of people in the same boat. This means that if you look down the street in your Colorado Springs neighborhood, about every 4th home will be in some stage of foreclosure - or close to it.

Foreclosure does not ALWAYS need to happen. If a homeowner knows that they will not be able to keep making their monthly payments, there is always the option to sell their Colorado Springs home before it forecloses. This will save, not only some of their credit, but also their peace of mind. Even if a homeowner owes more than they could sell their home for (which is true for a lot of Colorado Springs homeowners out there right now), you could STILL possibly sell your home and get out from under foreclosure.

If you (or someone that you know and love) is distraught becasue they are losing their home to foreclosure, we may be able to help them SELL it before it is too late. Let's work together to chop these high foreclosure rates down ... and help people get out from under their mortgage burden in the process.

Derek and Mariana Wagner of the Colorado Springs Real Estate Connection and Wagner iTeam are currently in the process of becoming Certified Distressed Property Experts and can effectively negotate with your banks to get your home SOLD, regardless of what you owe them ... helping YOU get on with LIFE.

Call us as soon as you can. The more time we have to help you avoid foreclosure, the better: (719) 434-7525

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Here is the July 2008 report for the Stetson Hills Real Estate Market. For more information on Stetson Hills and to view the full report, please visit the Stetson Hills Real Estate Blog.

Single Family Homes in Stetson Hills

• There are currently 305 Stetson Hills homes for sale Colorado Springs.
  • Price Range: $43,900 - $499,900
  • Median Price: $225,000
  • Average Days on Market: 119 days
    
• As of August 13, 2008, there are 66 homes under contract in Stetson Hills.
  
• From 7/1/2008 - 7/31/2008, 61 single family homes SOLD in Stetson Hills.
  • Median Sales Price: $225,000
  • Average Sales Price: $237,205
  • Sale Price to List Price Ratio: 97.4%
  • Average Days on Market: 106 days (1-788 days)
  • 39 of the 61 sales were VA or FHA government loans

Townhomes and Condos in Stetson Hills

• There are currently 29 townhomes and condos for sale in Stetson Hills, Colorado Springs.
  • 8 Condos and 21 Townhomes
  • Price Range: $124,900 193,695
  • Median Price: $160,000
  • Average Days on Market: 131 days

• From 7/1/2008 7/31/2008, 4 townhomes and condos sold in Stetson Hills.
  • 2 Condos and 2 Townhomes
  • Price Range: $133,500 - $165,695
  • Median Sold Price: $147,950
  • Average Days on Market: 73 days (48-119 days)
    Down from 98 days in June
  • 2 VA loans and 2 conventional loans

Posted By: Mariana Wagner Wagner iTeam at Keller Williams Clients Choice Realty
Colorado Springs Real Estate Agent Stetson Hills Real Estate Expert

The north Colorado Springs real estate market for July 2008 includes the Colorado Springs MLS areas of Black Forest, Briargate, Northgate, Northeast and Northwest Colorado Springs.

Black Forest - Colorado Springs Real Estate Market - July 2008

Single Family Homes in Black Forest

• Active homes for sale: 472
• Homes sold in July 2008: 39
• Average Sale Price: $304,339
• Median Sale Price: $302,500
• Average Days on Market: 86 days
• Average Sale Price/List Price: 97.9%

The Black Forest real estate market is made up of several Colorado Springs neighborhoods, to include: High Forest Ranch, Black Forest Reserve, Pine Cone Acres  and Cathedral Pines.

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Briargate - Colorado Springs Real Estate Market - July 2008

Single Family Briargate Homes

• Active homes for sale: 352
• Homes sold in July 2008: 81
• Average Sale Price: $317,093
• Median Sale Price: $300,000
• Average Days on Market: 106 days
• Average Sale Price/List Price: 97.4%

Townhomes and Condos in Briargate

• Active homes for sale: 47
• Homes sold in July 2008: 5 
• Average Sale Price: $196,900
• Median Sale Price: $208,000
• Average Days on Market: 35 days
• Average Sale Price/List Price: 97.3%

The Briargate real estate market is made up of several Colorado Springs neighborhoods, to include: Wolf Ranch, Cordera, Charleston Place, Fairfax, Pine Creek and other smaller Briargate neighborhoods.

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Northgate - Colorado Springs Real Estate Market - July 2008

Single Family Northgate Homes

• Active homes for sale: 242
• Homes sold in July 2008: 32
• Average Sale Price: $390,348
• Median Sale Price: $372,000
• Average Days on Market: 107 days
• Average Sale Price/List Price: 96.8%

Townhomes and Condos in Northgate

• Active homes for sale: 17
• Homes sold in July 2008: 8
• Average Sale Price: $231,265
• Median Sale Price: $223,673
• Average Days on Market: 51 days
• Average Sale Price/List Price: 83.4%

The Northgate real estate market is made up of several Colorado Springs neighborhoods, to include: Trail Ridge, Flying Horse and Gleneagle.

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The east Colorado Springs real estate market for July 2008 includes the Colorado Springs MLS areas of East, Powers Area, Southeast and Northeast Colorado Springs.

East Colorado Springs Real Estate Market - July 2008

Single Family Homes in East Colorado Springs

• Active homes for sale: 274
• Homes sold in July 2008: 48
• Average Sale Price: $186,339
• Median Sale Price: $168,450
• Average Days on Market: 58 days
• Average Sale Price/List Price: 98.2%

Townhomes and Condos in East Colorado Springs

• Active homes for sale: 274
• Homes sold in July 2008: 13
• Average Sale Price: $100,798
• Median Sale Price: $88,500
• Average Days on Market: 100 days
• Average Sale Price/List Price: 94.5%

The East Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Village Seven, Villa Loma and Old Farm.

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Powers Area - Colorado Springs Real Estate Market - July 2008

Single Family Homes in Powers Area Colorado Springs

• Active homes for sale: 500
• Homes sold in July 2008: 94
• Average Sale Price: $231,630
• Median Sale Price: $227,000
• Average Days on Market: 106 days
• Average Sale Price/List Price: 98.1%

Townhomes and Condos in Powers Area Colorado Springs

• Active homes for sale: 85
• Homes sold in July 2008: 5
• Average Sale Price: $178,824
• Median Sale Price: $143,220
• Average Days on Market: 139 days
• Average Sale Price/List Price: 94.5%

The Powers Area Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Greenhaven, Stetson Hills, Springs Ranch, Claremont Ranch and Cimarron Hills.

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The south Colorado Springs real estate market for July 2008 includes the Colorado Springs MLS areas of Southeast and Southwest and Broadmoor Colorado Springs.

Southwest Colorado Springs Real Estate Market - July 2008

Single Family Homes in Southwest Colorado Springs

• Active homes for sale: 435
• Homes sold in July 2008: 64
• Average Sale Price: $342,185
• Median Sale Price: $332,000
• Average Days on Market: 89 days
• Average Sale Price/List Price: 97.7%

Townhomes and Condos in Southwest Colorado Springs

• Active homes for sale: 98
• Homes sold in July 2008: 9
• Average Sale Price: $237,611
• Median Sale Price: $206,500
• Average Days on Market: 81 days
• Average Sale Price/List Price: 90.7%

The Southwest Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Broadmoor, Skyway, Stratmoor Valley and Cheyenne Meadows.

Search Homes for Sale in S/W Colorado Springs and Broadmoor Real Estate

Southeast Colorado Springs Real Estate Market - July 2008

Single Family Homes in Southeast Colorado Springs

• Active homes for sale: 285
• Homes sold in July 2008: 55
• Average Sale Price: $143,188
• Median Sale Price: $135,500
• Average Days on Market: 53 days
• Average Sale Price/List Price: 97.7%

Townhomes and Condos in Southeast Colorado Springs

• Active homes for sale: 98
• Homes sold in July 2008: 21
• Average Sale Price: $100,971
• Median Sale Price: $86,000
• Average Days on Market: 110 days
• Average Sale Price/List Price: 92.6%

The Southeast Colorado Springs real estate market is made up of several Colorado Springs neighborhoods, to include: Pikes Peak Park, Southborough, Eastborough and Spring Creek.

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