Colorado Springs Open Houses

Come to our open house, this Sunday, FEB 14th, 2010.  This turn of the century home in Old Colorado City has some amazing features, including large picture windows to see the mountain views, original hardwood flooring, and a huge useable backyard with a detached garage.

• 2,069 sq ft house / 7500 sq ft lot
• 4 bed / 2 bath / 1 car garage + street and driveway parking
• Large dining room
• Updated Kitchen w/ all appliances included
• Covered Porch, Fully Fenced Backyard, Alley Access
• $230,000 and ready for quick-close
• Located in Old Colorado City
• Near Parks, Schools, and Shopping
• MLS # 660212

Listed by Colorado Real Estate Agent Toby Lorenc, RE/MAX  Properties, Inc

Not the house you're looking for? Search the Colorado Springs MLS for other homes

Looking for a deal in real estate?

I can't tell you the number of times potential buyers have told me, "Let me know when a deal comes along and then I'll think about buying." Here's the truth - with the buyers market that we're currently experiencing, there are deals everywhere and most real estate investments that you'll make at this time are going to pay off in the long run. Obviously, that's not that case on everything and it's important to find yourself the world's best Realtor to make sure you're making a wise investment for the future. Of course, even an amazing Realtor can't be 100% sure, but we can certainly counsel you on your decision and provide crucial information to help you make an educated decision when buying a home.

All that said - here's a deal. A home that's ready for move in. Brand new paint and carpet in the basement, plus air conditioning already installed! The interior and exterior are in great shape, from the 3 year old roof to the carpet inside (plus, the original hardwood floors under the carpet if you want to go that route). Very cute covered porch/patio in backyard, as well as a large lot (9664 sq ft). Lots of upgrades too - vinyl windows, attic fan, plus all appliances are included in sale (including washer and dryer). If you're familiar with Colorado Springs, you know about the beautiful Memorial Park where the Colorado Springs Balloon Classic takes place, as well as the best fireworks show in the city on the Fourth of July. Here's the best part - you can watch these both from your living room window! This home is less than a mile from Memorial park, and less than 3 miles from downtown Colorado Springs. It's a phenomenal location....I know, I know, you want the price. I saved the best for last: $167,000 for this 2250 sq ft home. That's about $74/sq foot. I know, my jaw just hit the floor too. Yep...great deal.

See full details of this Colorado Springs Home for Sale

Listed with RE/MAX Properties, Inc

MLS # 532219

Take a virtual tour of this home

Foreclosures in Colorado Springs: Know What You're Getting Into

Many people are asking me about buying Colorado Springs homes in foreclosure. Certainly, this can be a way to save money when buying a home but it may not be worth the headaches for the average buyer.

1) Prepare yourself for a long process
If you're on a "time deadline" of when you need to be in your next home, a foreclosed or bank-owned property may not be your best option. Often time, the loss mitigation officer at the bank will have to approve your offer. This could take anywhere from a few weeks to months...I've seen it take as long as 6 months. Plus, they may actually come back and ask for MORE money than you offered to cover their costs.

2) Prepare yourself that the property will probably need work done before you can move in.
Whether you do it yourself or have someone else do it, you're probably looking at some significant work that needs to be done after taking possession. Certainly, there are some foreclosed homes in El Paso County that are move-in ready, but chances are real estate agents have already bought those up, sometimes before they even go on the market.

3) Don't expect the "seller" to take care of any problems you find during the inspection period.
Although you still have the right to hire an inspector and access the house for inspection, in this case, the seller is the bank and most often they are selling the property "as-is" and refuse to correct any problems found during the inspection period.

With the Colorado real estate market the way it is here and pretty much nationwide (a buyer's market), you can find some great deals on homes and you don't necessarily have to look at foreclosed properties to find a bargain.

For more information on foreclosures in El Paso County, please visit:
http://elpasopublictrustee.com/Types.aspx

This site will help you better understand the foreclosure law, the 3 types of foreclosure in Colorado (Public Trustee, Judicial, and tax sale), and finally you can view the status of all properties currently in foreclosure in El Paso County.

Keep in mind that each State's laws are different as well as the foreclosure process. Contact me to talk through the things you'll need to keep in mind by Colorado State law.

If you'd like a list of Colorado Springs properties in foreclosure (including pictures) please email me your request: Colorado Springs Area Foreclosure