Category Archives: Mountain Shadows

Green Shoots: Northwest District 11 Analysis

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How to Read these:

Neighborhood Patterns: There are FIVE graphs, Odds of a Home Selling, Time to Sell 2012, and Buying Patterns 2012. We then supplemented these with comparisons to 2011 for both Mountain Shadows and Oak Valley Ranch. Mountain Shadows was notably impacted by the Waldo Canyon Fire with 346 homes lost to the fire. Oak Valley Ranch had the fire burn all around it’s borders, but no houses were burned. Initial guesses were that this market would be severely impacted in value. To date, that has not been the case. This has always been a seasonal market, and that was confirmed in 2012 with the highest prices generally paid June through October. The historic event to date has shown zero negative impact on pricing.

On the note of the Waldo Canyon Fire, the probability of sale in Mountain Shadows requires some deeper analysis than these visual graphs reveal. The rate of “failed-to-sell” listings is significant in Mountain Shadows and therefore the expressed probability of sale is less than 50%. But what must also be considered is that the available inventory, both today and at the time of the fire, has been historically low, and therefore a figure like “months of supply” is low, at 4.7 months at end of year, 2012.

Scattergram: something we actively look for in measuring “a good buy” is if a home is selling at near the average price, the median price, and whether or not there is a significant variance in top to bottom prices per square footage. Appraisers like neighborhoods where all the homes hug the trendline forecasting predictable values. WE LIKE neighborhoods that have prices all over the place. Many of our buyers are looking for a “good buy” and one way to measure that is to find a neighborhood with a large variance in prices. Pinon Valley is somewhat predictable in it’s pricing structure, but has multiple markets right alongside one another, with prices under $200,000, $200,000 to $225,000, $225,000 to $275,000, and then an over $300,000 market. Mountain Shadows has prices all over the place due to generations of construction and size of lot. That’s price elasticity.

These graphs also allow consumers to compare neighborhoods. Pinon Valley and Oak Valley Ranch are historically competitive, but the way pricing breaks out in Pinon Valley is more in clusters of like properties, while Oak Valley Ranch had more notable high dollar per square foot sales in 2012.

Some baselines… Probability of sale last year for the entire MLS was 63.8%. That was the highest probability since 2005. These graphs reflect mostly lower numbers, but that is because the software counts under contract properties as still “active”. In essence, these are contracts, and in certain cases, we notated what happens to months of inventory and probability of sale if you “count the contracts” that are there at the start of the year. Saying that, Pinon Valley and Oak Valley Ranch returned some of the most exceptional probabilities of sale in Colorado Springs in 2012.

If you would like any of these slides emailed to you for specific information, hit me up at Benjamin@BenjaminDay.com. Yes, we realize that they read a little small, but we’re preciously attached to our WordPress format, so, sorry.

The software used to create these graphs is from http://www.Focus1st.com and we used a date range of January 1, 2012 to January 11/14, 2013 for all of the searches, doing as many as possible on two different business days to get a competitive comparison for a single snapshot in time.

Disclaimer timeBenjamin Day composed this blog post and is solely responsible for it’s content. This information reflects data and opinion of  real estate licensee in The State of Colorado. Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period January 1, 2012 through January 14, 2013 .  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.

Just Listed: 2025 Montura View 80919

The best reason to buy a condo is to affordably obtain a premier location at a budget price.

The Saddleback Ridge Condominiums do just that. 

Kitchen at 2025 Montura View

Set on the desirable northwest side of Colorado Springs at Chuckwagon and Centennial, these 2004 to 2008 built condos feature 1111 square foot floorplans three blocks from Ute Valley Park. The neighboring townhomes are in the upper $200K’s to mid $300K’s and on the rim above, Mountain Shadows homes gor from $350,000 to $800,000. 

Just listed is 2025 Montura View, Colorado Springs, CO 80919. This property features the standard two bedroom, two full bath floorplan with the addition of pendant lighting, 12″ tile floors in the kitchen and both baths, maple cabinetry throughout, and as an extra bonus, two separate detached garages. This is the perfect property for the individual who needs two garages, either for vehicles, bikes, motorcyles, kayaks, climbing gear, etc. With great southeast exposure, it gets all-day light (unlike half the units which face north) and from the covered deck, enjoys great views of Ute Valley Park.

Just Listed: 4510 Granby Circle in Mountain Shadows

Superb Condition properties can come in a variety of forms.

There are the homes that have been updated with lots of new bells and whistles, with a litany of features to advertise.

There are homes that are brand-new where the perceived value speaks for itself.

Then there are homes that were built by superior builders and have been maintained and kept up in a pristine condition. The new listing at 4510 Granby is one such property.

Built in 1999 by Saddletree Homes the Orleans Plan is one of the more popular plans ever to arrive in the Colorado Springs Marketplace. At just under 3000

Island & Pantry Kitchen

Island & Pantry Kitchen

total square feet, the home features 9 foot ceilings on the main level, a large formal living room, equally spacious family room, over-sized kitchen with island and pantry, big casual dining area, upstairs laundry, 14′ x 11′ secondary bedrooms, and a master with 10′ x 12′ office/retreat, five-piece bath and generous walk-in closet. That’s on the base plan.

At 4510 Granby, the upgrades are almost too numerous to list… OUTSIDE… there are four different outdoor gathering areas, including a raised veranda off

Master Veranda View

Master Veranda View

the master retreat that features a straight-on view of Pikes Peak… a back deck with city light views… a covered front porch large enough for entertaining at the end of the cul-de-sac… and a lower level stamped basement patio that is hot tub-friendly due to the 6 foot privacy fence and views of Ute Valley Park and city lights. That’s in addition to the dimensional shingle roof, stucco exterior and walkout lower level. INSIDE… extensive hardwood flooring unites the family room with dining area and island kitchen… built-in speaker wiring and a giant built-in area accommodates modern media…high quality window coverings with 4″ blinds set the scene for appropriate natural lighting.

Situated in the prestigious Mountain Shadows community, this is a rare find in terms of newly built, and rare find in terms of Saddletree Construction (who typically builds from $500,000 to $1,600,000’s in neighborhoods like Cordera, Flying Horse and Cathedral Pines), but also at a price ($290,000) that is significantly lower than the neighborhood average. Priced to move, this is turn-key, peace of mind that can not be missed.