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Construction Bubble for New Homes in Colorado Springs?

by Alan T Daniels

Some people have been asking if there is a construction bubble for new homes in Colorado Springs.  If you are in the market to buy a new home in Colorado Springs and surrounding areas or know someone who is you may be asking yourself this question.  Is the pace of housing recovery unsustainable?  

Not according to Chief Economist of Realtor.com, Jonathan Smoke who explains: 

“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

We are still way below historic averages when looking at the number of housing starts over the last 30 years.  Especially when comparing the numbers of housing starts during the current recovery (2012 to now) to the massive numbers built during the run up to the housing bubble (2002-2006).

A housing start is defined as the number of permits issued for new construction units and we are comparing permits issued for single family housing starts for the most applicable comparison.

Now that we have seen the National comparison what is going on in El Paso County?  

  • Permits Issued in 2005 for El Paso County:  6,250
  • Permits Issued in 2015 for El Paso County:  2,939
  • Permits Issued in July 2005 for El Paso County: 517
  • Permits Issued in July 2016 for El Paso County: 299

Source: Census Bureau 

Bottom Line

New homes (permits issued) in El Paso County are going up at about half the rate they were running up to the housing bubble.  Builders can’t keep up with current demand making it an extremely good market to buy new or resale housing in.  

If you are looking for new homes in Colorado Springs, Monument, Fountain and surrounding areas it is important to consult with a Realtor who specializes in new home construction to look at a number of variables which will protect your investment.

Click Here to Search New Homes For Sale in Colorado Springs and Surrounding Areas

New Home Community in Monument - Forest Lakes

by Alan Daniels

Forest Lakes Homes For Sale in Monument, CO​Forest Lakes is one of the newest communities in Monument, Colorado where construction is just beginning.  This wonderful community has a phenomenal location just West of I-25 off Baptist Road and boasts approximately 1,000 acres nestled next to Pikes Peak National Forest.  Some properties will have lake views

Forest Lake Specs:

2015 Colorado Springs Parade of Homes

by Alan Daniels

2015 Colorado Springs Parade of Homes

The 2015 Colorado Springs Parade of Homes has been scheduled.  Save the dates for August 7-23.  The times will be 10AM-6PM daily.

Last years Parade of Homes featured 28 homes with 2 Hub sites in Flying Horse and Wolf Ranch.  Prices ranged from $150,000 to more then $2 million.  We are excited to see what 2015 has in line for the parade.  

Be sure to check back for more updates on the Parade as we get closer!

Newest Colorado Springs Listings

by Alan Daniels

Wanting to see the latest up to date Colorado Springs listings before other home buyers do?  Don't rely on any of the unreliable national websites where we have seen listings outdated by as much as 8 months to a year.  Be sure to checkout our advanced Colorado Springs home search that is updated multiple times per day with all the details you want to make your search a breeze. 

Here are two links for your convenience:


January Update:  Listing Inventory is on the rise.  Sellers this is a good time to list before the summer competition hits.  Buyers this is a good time to start looking as inventory finally starts to increase following the holidays.

Checkout Our New Home Search with Top Resources!

by Alan Daniels

Colorado Springs Homes For Sale

We are proud to announce that we have upgraded and launched our New Home Search Resource.  Click Here to take a look at it to see why it is one of the best home searches in Colorado Springs and Monument.  Here is a list of just some of the best tools the search provides.

  • Search thousands of listings in the Pikes Peak Region.
  • View tons of details, photo slideshows, virtual tours and more.
  • View various map views with points of interest, get directions and more.
  • Search by map to find homes near points of interests.
  • View the newest added listings on market and most recent price reductions to get a jump on the best homes before other buyers do.
  • Checkout the Lifestyle portion of the search that lets you search by importance of highly rated schools, low crime ratings, median home income, type of neighborhood, cost of living and commute time.
  • Find Luxury Homes in Colorado Springs and surrounding areas.
  • Find New Construction and New Homes in Colorado Springs and surrounding areas.
  • Search All Foreclosure Properties.
  • Search by city, zip code, address, subdivision/neighborhood, school district, MLS number, MLS area
  • Create a search alert to update you with matching properties instantly.
  • Save and organize favorite listings and previously viewed homes.
  • Choose from tons of criteria to find the best matches for you.
  • Updated multiple times a day to provide the most recent and relevant results.  Don't count on other outdated searches as this search allows buyers to find the best home first.

New Cordera Real Estate Website

by Alan Daniels

Wolf Ranch Homes For Sale | Realtors

Checkout our new neighborhood website for Cordera at CorderaLiving.com!  This is a must visit site if you live in and around the Cordera area or plan on moving to the Cordera area.  We will continue to update it with new information and up to date market reports, so make sure to bookmark it for continued visits.  This site provides helpful Cordera information on the following topics:

  • Cordera Neighborhood Information and Pictures.
  • Cordera Homes For Sale including resales, new homes, builders, foreclosures, short sales, and latest price drops, newest listings and much more.
  • Cordera Townhomes, Condos, and Patio Homes for Sale.
  • The Daniels Team's Featured Listings In and Around Cordera.
  • Updated Cordera School Reports with Ratings, Test Scoring, Stats and More in Academy School District 20.
  • Cordera Home Values and Recent Home Sales In and Around Cordera.
  • Cordera Parks and Recreation.
  • Cordera Demographics.
  • Cordera Climate.
  • Cordera Realtors - A Daniels Team Designated Market.
  • More to come so check it out!

2013 Colorado Springs Parade of Homes

by Alan Daniels

Colorado Springs Parade of Homes 2013It's almost that time of the year again!  The 2013 Parade of Homes in Colorado Springs was moved back a couple of weeks due to the Black Forest Fire and will now take place between August 16 - September 1.  Here are all of the details you will want to know for the Colorado Springs Parade of Homes this year.

  • Tickets: Available August 1st and can be purchased at a local Safeway ($10 each | Kids under 18 are free).
  • Locations: Homes will be located in various areas in El Paso County with the main sites being Banning Lewis Ranch, Cordera, Flying Horse, and Gold Hill Mesa.
  • Builders:  Alliance Builders, Aspen View Homes, Bella Vita Custom Homes, Campbell Homes, Century Communities, Challenger Homes, Charles Weber Homes, Clancy Building & Design, Classic Homes, Copperleaf Homes, CreekStone Homes, CreekStone Homes, CreekStone Homes, D.R. Horton, GJ Gardner Homes, Echo Construction, Elevation Homes, Hammer Homes, Hi Point Home Builders, JM Weston Homes, Keller Homes, Murphy's Custom Homes, Oakwood Homes, Pioneer West Homes, Reunion Homes, Saddletree Homes, Signature Homes by Steve Scott, Stauffer & Sons Construction, Tiffany Homes, Tuscany Homes, Vanguard Homes, Walther Homes, Windsor Ridge Homes

Our News 5 Appearance on NBC - Home Prices Are Up

by Alan Daniels

Here is the Video showing our appearance on News 5 this summer discussing the positive change in the Colorado Springs Real Estate market.  Some of their stats are off but it will give you an idea of what is going on in the market this year.  Thanks to our client Mark Stanforth for making an appearance on the spot!  Visit this link to see the real stats in the current market.

Welcome back to our 3 part post of 15 Things Every Home Buyer Should Know Before Purchasing.  The first 5 things covered the benefits of home ownership so be sure to check that out.  Here are the next 5 things you should know when buying a home in Colorado Springs and surrounding areas.

  • 6.  Hiring a Buyer Agent - Hire a buyer agent early in the process to save you time, energy and Colorado Springs Homes For Salemoney.  A good Realtor in Colorado Springs will be able to show you any home on market including new construction options and most for sale by owner options.  How much does it cost you?  99% of the time there is no cost to the buyer for hiring a buyer agent.   A good Real Estate Agent will be able to make you aware of every option on the market based on your needs saving you time and allowing you to find the very best option for your needs.  They will be able to negotiate from experience on home purchases and let you know what is typical in resale and new build markets.  Make sure to contact the best of Colorado Springs Realtors to get started.
  • 7.  Get Pre-Approved - Get pre-approved if you are not planning on paying cash to purchase a home.  A pre-approval letter will be provided at the very beginning for your Realtor to use as a negotiating tool when you submit an offer.  This letter will allow you to be almost as competitive as a cash buyer which will get you the best purchase price.  You will also know exactly how much you can afford, what your payments will look like, and what loan program is best for your particular situation.  Most Realtors will have a good list of preferred lenders they can share that provide top notch service and first class rates.  Just tell your Realtor about your plans and they can do a Loan Analysis and give you the best options.
  • 8.  Direct Access to MLS - Make sure you have direct access to the MLS (Multiple Listing Services).  There are even real estate agents that do not have access to the MLS.  They have to be a Realtor to access this system.  Make sure your Realtor has you setup to receive new listing updates 4 times per day, as these types of buyers are finding all of the best properties and deals available before most others know anything about them.  You will also want to have a supplemental search available that lets you manually search like a Realtor.  My two favorite home searches that meet this criteria are:
  • 9.  New Homes and Construction - Consult with your Realtor before sharing too much information with a builder.  The sales reps are the Agent to the builder and represent the builder's best interests.  Your Realtor will represent your best interests for Free and will provide expertise and consulting on every aspect.  The community, lot options, floor plans, recommended optional upgrades, forecasted resale value, negotiating terms, and incentives are just some of the things that a talented New Home Realtor in Colorado Springs will review.
  • 10.  For Sale By Owner Homes - Interested in for sale by owner (FSBO) properties?  Majority of these owners are willing to work with your Realtor because they are saving on the listing agent side by having the process completed professionally by the buyer agent, and most importantly your best interests are represented.  Experience is key here.  This is one of the most important transactions to be represented in because FSBO deals can get weird quick and you want to make sure your Realtor has backed up your side with the proper contract docs to protect you.  Tell your Realtor about any advertised FSBO properties you would like to see.  Your Realtor may even know of a couple that match your needs.  They will contact the owner and coordinate a showing from there.

Next blog post will cover the final 5 things a buyer should know before purchasing a home in Colorado Springs and surrounding areas, so check back soon.

Displaying blog entries 1-9 of 9

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