Colorado Springs Real Estate Connection » Relocation

Moving To Colorado Springs … or ANY New City? Check The Local Cost Of Living First.

Mariana Wagner — Tue, 29 Dec 2009 13:46:01 +0000

Thinking of moving from or to Colorado Springs? Well, you are not alone. 24% of our population is transient every year – meaning that 24% of our population moves in or out of Colorado Springs each year.

It’s not only the real estate markets that differ from town to town — the Cost of Living does, too.

Insurance costs, tax bills and just plain, day-to-day living will dent a household budget differently depending on where that household is. It can be a nerve-wracking fact for families moving across state borders.

For example, if you compare Denver to Colorado Springs, you can make 9.81% LESS in Colorado Springs and still maintain the same standard of living as you would in Denver.

As an aid for the budget-aware, Bankrate.com keeps a Cost of Living Comparison Calculator on its website. The calculator asks 3 questions: (1) Where do you live now, (2) To where you are moving, and (3) What is your salary. It then spits out a detailed, 58-item cost comparison list between the two cities.

Some of the key costs compared include:

Everyday groceries (like T-Bone steaks, Ibuprofen, pizza …)
Energy bills
Routine health care (and common prescriptions)
Home ownership (…and rent)
Clothes
Sporting goods

The Cost of Living Comparison Calculator is thorough, with data culled from the ACCRA. You’ll be surprised at how granular the list can get. On the ACCRA website, you can buy a similar report for $5.

On the Bankrate.com site, the data is free.

Great News! According to BestPlaces.net, “Compared to the rest of the country, Colorado Springs’ cost of living is 8.52% Lower than the U.S. average.”

When it comes to comparing Denver and Colorado Springs real estate, check it out:

In Colorado Springs (compared to Denver), homes are cheaper, mortgage payments and rent are lower and energy bills are lower, too!

How does Colorado Springs (population 380,307) compare to other like-sized cities across the US?

Moving to Colorado Springs CO from …

Raleigh NC (pop.392,552) - You may take a 8.33% decrease and still maintain your standard of living.
Tulsa OK (pop. 385,635) – You will need a 7.55% increase to maintain your standard of living.
Minneapolis MN (pop. 382,605) – You may take a 19.64% decrease and still maintain your standard of living.
Honolulu HI (pop. 374,676) – You may take a 44.46% decrease and still maintain your standard of living.
Wichita KS (pop. 366,046) – You will need a 1.13% increase to maintain your standard of living.

If you are looking to take advantage of the lower cost of living by moving to our area, check out the homes for sale in Colorado Springs, or give us a call at: 719.434.8346

We love where we live and we love what we do!

Partial content and idea for this post compliments of Bring the Blog – Real Estate and Mortgage Blog Content.

The Colorado Springs Real Estate Market is Nothing to Stress About – [We Are Not One of the Top Stressed Out Cities]

Mariana Wagner — Tue, 01 Sep 2009 03:12:57 +0000

The Colorado Springs real estate market was NOT listed on the Forbes Top Stressed Out Cities list, for 2009.

Cities that were listed as the MOST stressed out, were:

Chicago, IL
Los Angeles, CA
New York, NY
Cleveland, OH
Providence, RI

Factors included:

Quality of Life
Unemployment
Number of Sunny Days
Home Prices – the Real Estate Market

“Almost 50 percent of homes sold nationwide in the first quarter of 2009 were distressed homes. One-third of those were short sales, and two-thirds were foreclosures.” – Walter Molony, spokesman for the National Association of Realtors

No WONDER so many cities are stressed out!

Feeling Stressed? … Check Out:

Relaxation Techniques for Stress Relief [HelpGuide.org]
How to Reduce, Prevent and Cope with Stress [HelpGuide.org]
Positive Thinking: Reduce Stress and Enjoy Life More [MayoClinic.org]

If you live in Colorado Springs, then it is OBVIOUS why we are NOT on this list …

The high altitude does not allow oxygen to get to our brains in enough concentration to allow for stress!

(oh … and we have a great quality of life, an abundance of sunny days, our real estate market is nice and healthy and people have jobs.)

Thinking of relocating to Colorado Springs? Give us a call and we will share with you all the reasons why we LOVE where we live! (And yes, and we would love the opportunity to help you find your next home, too …) 719.434.7525

Top 6 Neighborhoods Near Fort Carson

Mariana Wagner — Tue, 30 Jun 2009 01:03:05 +0000

Are you relocating to Colorado Springs because of a PCS to Fort Carson? We work with many military families and understand that there is A LOT to do in a LITTLE time, when it comes to moving. If you are looking to buy a home near Fort Carson when you get here … Well, you have even MORE on your plate!

One of the questions we hear often, when folks are looking to buy a home near Fort Carson is:

What homes and neighborhoods are near Fort Carson?

Here is a map of the neighborhoods surrounding Fort Carson, and a little bit about the homes for sale near Fort Carson.

Fountain Valley

The Fountain CO real estate market and neighborhoods are located to the immediate east of Fort Carson. Fountain area homes are in both brand new neighborhoods as well as in more mature communities. The average home for sale in Fountain CO was $162,000 in May of 2009, and currently there are over 400 homes for sale to choose from.

Popular Fountain Home Searches:

Security and Widefield

The Security and Widefield neighborhoods are found to the northeast of Fort Carson. Widefield and Security are “technically” in Colorado Springs, but not within city limits. Homes in these areas were built in the from the 1950’s and you can still find new homes being built in these areas today! Homes come in all sizes and have anywhere from 2-5 bedrooms.

There are currently 166 homes for sale in Security and Widefield, priced from $46,900 – $525,000 with an median asking price of $159,900. Homes that have sold since April 2009 sell fro an average of about $140k.

Popular Security and Widefield Home Searches:

Southeast Colorado Springs

Southeast Colorado Springs is home to some of the more affordable 2-3 bedroom homes in the area, with the average sale price in May 2009 of $119,355. Southeast Colorado Springs has several mature neighborhoods AND several newer neighborhoods.

Popular Southeast Colorado Springs Home Searches:

Stratton Meadows, Stratmoor Hills and Stratmoor Valley

Stratmoor Hills and Stratmoor Valley are located in S/W Colorado Springs. Stratton Meadows is located immediately north of Fort Carson, off of Hwy 115. Although most of these homes were built in the late 1960’s and 1970’s, there are a few pockets of newer homes in these areas. The average home for sale in these areas are about 3-4 bedrooms and sell for about $135,000. Currently there are 19 homes for sale in these neighborhoods.

Broadmoor and S/W Colorado Springs

The Broadmoor area is located in S/W Colorado Springs and to the northwest of Fort Carson. The Broadmoor is home to some of the most expensive homes in Colorado Springs. Read More: 5 Most Expensive Colorado Springs Home Sales for May 2009. The average sales price in the Broadmoor area is about $350k, but homes can get into the millions.

Popular Broadmoor Area Home Searches:

Rock Creek and Turkey Canon

Rock Creek is the area to the immediate west of Fort Carson (across Hwy 115) and home to the Turkey Canon neighborhoods – nestled in the foothills of the Rocky Mountains. Homes in these areas are fully custom homes on acreage. There are currently 10 homes for sale in Turkey Canon and surrounding areas and they average at about half a million dollars sale price.

Search All Homes for Sale in Turkey Canon and 80926

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Using USAA for your insurance and considering using them for your loan and real estate agent?

USAA is a fabulous company, that offers awesome amenities and benefits for its members.

However … YOU HAVE A CHOICE when it comes to your loan and your agent!

The Wagner iTeam and the lenders that we work with have consistently gotten BETTER INTEREST RATES and BETTER HOME DEALS for their military home buyers. … and yes, we even have a cash back Military special, too. Call us for more details: 719.434.7525

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Relocating To or From Colorado Springs? Adjusting For Cost Of Living Differences After A Non-Local Move

Mariana Wagner — Fri, 19 Jun 2009 15:11:41 +0000

Looking to relocate to Colorado Springs … or away from here? Moving to a new metropolitan area requires adjustments. There’s new streets to learn, new weather patterns to get used to, and new social cultures to assimilate.

There’s also new costs.

Just like home values vary by area, so does the Cost of Living. To visit a doctor in Chicago, as an example, costs a person more than to visit a similar-type doctor in Des Moines.

Cost of Living adjustments can’t be ignored between two cities because it changes a household’s budget.

And while it’s a challenge to know exactlyhow far your dollar can stretch in a new town, Bankrate.com hosts a helpful Cost of Living Comparison Calculator to make the math a little easier. With categories such as dry cleaning, groceries and beauty salon, the calculator goes extra deep into the typical costs to a household, and can help families to make more realistic budgets.

The calculator also shows the equivalent household income between any two metropolitan areas.

[Information provided to the Colorado Springs Real Estate Connection courtesy of the mortgage and real estate professionals at Bring the Blog.]

Top 8 Affordable Colorado Springs Neighborhoods for 1st Quarter 2009

Mariana Wagner — Sun, 31 May 2009 15:10:53 +0000

More than half the homes for sale in Colorado Springs are affordable to the average American family.

According to the 2009 1st Quarter Housing Opportunity Index, housing affordability is at the highest level it has been in 18 years! (Colorado Springs Real Estate Journal, Vol. 1 No. 18 “Housing affordability surges to highest level in 18 years”)

They based this off of home prices vs. the national median income of $64,000 a year.

Basically, if you make $64,000 a year, you can afford a $250,000 home* (if you pay about $600 a month in car/credit card payments, get a fixed interest rate of about 5% and put about 20% down, with about $1,000 a year in homeowners insurance and $1,200 a year in property taxes). (Check Out the Bank Rate Calculator) *All home loans are subject to credit approval and you may qualify for more, less or nothing based on your unique situation. Contact a local, reputable bank or lender for more information.
Read Also: How Does Your Debt Compare?

Top 8 Affordable Colorado Springs Neighborhoods:

Here are the most affordable neighborhoods in Colorado Springs, based on median asking and sales prices for the 1st quarter of 2009.

1. Southeast Colorado Springs Homes: Located south of Platte Ave. and North of Security and Widefield. Close to Peterson AFB and Fort Carson. – Check out the Southeast Colorado Springs real estate info and home searches

Median List Price: $111,900
Median Sale Price: $109,900

2. Central and Downtown Colorado Springs Homes: Located east of I-25 and within the boundaries of Circle Drive. – Check out the Central and Downtown Colorado Springs real estate info and home searches

Median List Price: $132,603
Median Sale Price: $119,800

3. Old Colorado City Homes: All areas surrounding West Colorado Blvd. – Check out the Old Colorado City real estate info and home searches

Median List Price: $150,000
Median Sale Price: $150,000

4. East Colorado Springs Homes: Just east of Central Colorado Springs and west of Powers Blvd. – Check out the Eastside Colorado Springs real estate info and home searches

Median List Price: $164,900
Median Sale Price: $160,000

5. West Colorado Springs Homes: West of I-25 between Old Colorado City and Garden of the Gods Road. – Check out the Westside Colorado Springs real estate info and home searches

Median List Price: $161,000
Median Sale Price: $160,800

6. Powers Area Colorado Springs Homes: The stretch of neighborhoods east of Powers between Woodmen Road and Platte Avenue. – Check out the Powers Area Colorado Springs real estate info and home searches

Median List Price: $192,450
Median Sale Price: $188,000

7. Northeast Colorado Springs Homes: Covers mostly all neighborhoods between I-25 (W) and Powers (E), Woodmen (N) and Austin Bluffs (S). – Check out the Northeast Colorado Springs real estate info and home searches

Median List Price: $194,900
Median Sale Price: $190,000

8. Marksheffel Area Colorado Springs Homes: All of Banning Lewis Ranch and Claremont Ranch – East of the Powers neighborhoods of Stetson Hills and Springs Ranch. – Check out the Banning Lewis Ranch real estate info and home searches

Median List Price: $212,500
Median Sale Price: $216,000

Based on this information, there are HUNDREDS of affordable homes for sale in Colorado Springs.

Search ALL Homes For Sale in Colorado Springs

“Based on information from the Pikes Peak REALTOR Services Corp. (”RSC”), for the period January 1, 2009 through March 31, 2009. 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.”