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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‚Äč
  • 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 Building up in 2016!

by Alan Daniels

Listing inventory is extremely low and will continue to be in 2016 which is why Colorado Springs home builders will push to build the most new homes annually since 2006.  How will this effect your plans?

Home Sellers - This will create additional inventory but with the extreme lack of inventory it should not rain on your parade in 2016.  It will be interesting to track the effects of home builder inventory over the next 5 years though.  If you have a home in a new home community you will need a good Colorado Springs Realtor to come up with effective marketing techniques to compete with new homes.

Home Buyers - Additional inventory is great news for you!  The more the better they say and the same holds true when trying to find your dream home.  Make sure you are working with a Realtor who has access to every resale property and new home option.  When looking at new homes your Real Estate Agent should be able to show you the pluses and minuses whether buying a new home or resale.

Contact us today to put a plan together for you.

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!

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.

Colorado Springs Parade of Homes

by Alan Daniels

Colorado Springs Parade of Homes | New Homes in Colorado Springs

It's that time of year again!  I am already getting excited about the 2008 Parade of Homes in Colorado Springs. It is always fun to see how the latest new homes in Colorado Springs are designed. The unique architecture, landscaping, design touches, and communities showcased in the Parade of Homes tend to offer a good taste of what new home construction in Colorado Springs is all about for 2008.
 
Flying Horse and Banning Lewis Ranch are the two main sites to visit this year for the Parade of Homes.  There are a total of 29 new homes in the Parade with 11 of the homes over 1 million dollars. The Colorado Springs Parade of Homes runs from August 8 - 24 where tickets will run $10 each. The Parade of Homes will be open daily from 10AM – 6PM everyday. 
 
Tickets for the Parade of Homes can be purchased at Safeway:
  • Adults between ages 18 – 64: $10 each
  • Seniors ages 65 or older: $5 each
  • Children 18 years or younger: FREE
  • *Clients of The Daniels Team (Any Age): Contact us for FREE tickets! (* While supplies lasts)
There are 18 Parade of Home Sites with Flying Horse and Banning Lewis Ranch being the largest. Here is a list of the home sites, builders, and models in the parade. Please bookmark this page and come back to leave a comment at the bottom of this post on your favorite home after viewing the parade. It will be interesting to see the parade favorite here!
 
Homes in Flying Horse:
  • Copperleaf Homes,Trieste
  • Flying Horse Signature Homes,The Residence at Toscano
  • Moeller Custom Properties, Sony “Lifestyle Electronics” Signature Home
  • Moeller Custom Properties, Walt Disney Signature Home by Drexel Heritage
  • Moeller Custom Properties,Fergusons “Build Your Dreams” Signature Home
  • Symphony Homes, Sonata II Custom
  • Vantage Homes, Abbywood
Homes In Banning Lewis Ranch:
  • Classic Homes,The Spring Blossom
  • Classic Homes, The Greenspire
  • Capital Pacific Homes,Cerro Summit
  • Capital Pacific Homes, Mays Peak
  • Capital Pacific Homes, Mount Rosa
  • Capital Pacific Homes, Corbett Peak
Parade of Home Individual Sites:
  • Campbell Homes, Steinbeck
  • Copper Mountain Custom Homes, Mountain Majesty
  • CreekWalk Townhomes LLC, CreekWalk Townhomes
  • Fountain Creek Villas, Villa Veranda
  • High Country International, Ltd, Bella La Casa
  • Keller Homes, Jackson
  • Keller Homes, MacLaren
  • Oakwood Homes, Monarch
  • Richmond American Homes, Spruce
  • Richmond American Homes, Chestnut
  • Robert Scott General Contractors, Nature's Beauty
  • Scott Homes, La Garita
  • Shadow Creek Custom Homes, The Santa Fe
  • Stonegate Homes, Sierra Vista
  • Tiffany Homes, Colorado Dreamin'
  • Vantage Homes, Canyonwood

Beazer Homes is pulling out of Colorado!

by Alan Daniels
That's right, Beazer Homes is pulling out of Colorado! They were the eighth largest new home builder in the nation when they moved into the Colorado market in 2001. They have fallen on some tough times with a full investigation on mortgage fraud and over extending into different areas. Their stocks have dropped by 80 percent to less than $7.00 a share. Beazer Homes has said that they will pay all of their bills and honor all warranty obligations in the area. Keep in mind that there is no guarantee if they are not around in the future though. This is yet another reason on why an experienced Realtor can help advise you on New Home builders in Colorado Springs. A seasoned real estate agent has experience with all of the builders in town and usually gets a jump on issues like this. You can still find their Colorado Springs new homes in Claremont Ranch, Lowell, Soaring Eagles, Sweetwater Ridge, The Gables, and Wolf Ranch. There could be some good deals to come in order for them to move out quickly. Get with a Realtor to see if this would be the right move to meet your needs. 

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