Sunday, September 18, 2016

August 2016 Market Area Report For Colorado Springs

I have the August 2016 Area Report laid out in an easy to read graph that analyzes data as it affects the Colorado Springs market area. The Market Summary offers a look at sales activity for the prior month and year, along
with current and past year-to-date statistics. The graphs cover several
different aspects of the real estate market. Note how some of the graphs
break out trends by price increments. Take the sting out of listing your home
and learn more about your area. If your not listing your home but interested
in buying this can still help you. It's great to know the area you plan to buy in.
Check out the August 2016 Area Report .



If you would like to keep up with the market trends in Colorado Springs or the surrounding area contact me for up to date stats: www.nikimcelroy.com

Let me know what area or areas you are interested in.

Learn more about what there is to do in Colorado Springs by visiting Beautiful Places To Visit In Colorado Springs

Monday, September 5, 2016

The Old North End in Colorado Springs

The Old North End is by far one of my favorite neighborhoods in Colorado Springs. Many of the houses were built in the late 1800's to early 1900's. The neighborhood is located to the north of Colorado College. You can see a map of the neighborhood at OldNorthEnd.org. You will find wonderful Victorian style homes. The attention to detail is obvious in every house. As you walk down the streets in the neighborhood you will see homes colorfully painted and lovingly taken care of. Don't be surprised to see that a few homes still have the old horse tie ups.

I used to live in the Old North End. I loved the two homes I lived in. The neighbors were always friendly and were quick to start up a conversation. I had a cat that used to like to take walks with me and the kids. Sometimes he was a bit naughty and not as helpful as he could have been when helping a few neighbors garden. Cats just don't make good gardeners. They do seem to be great conversation starters though. The friendly neighbors made it hard to leave the neighborhood.

One of my favorite things about the homes in the area are the big front porches. The big porch just gives a welcoming feel to a house that almost invites conversation. I feel it is what helps promote the friendly feel of the area. The detail to all the trim work inside the homes in this area are impressive. I was lucky enough to live in homes where the wood was never painted over. The cut leaded glass windows were beautiful, though far from energy efficient. Both of the homes I lived in always required work, as to be expected from an old home. The charm of living in a home with history always made it worth the work.

The variety of architecture in the Old North End is wonderful. I always loved that not all the houses looked the same. It is always nice to see people be able to express themselves through where they live.

One such neighbor I had while I lived in the neighborhood had his whole home one the outside full of art and many miscellaneous items he acquired through yard sales. The inside of his home was filled with books and plants and many more things he acquired through his lifetime. Bill was a wonderful character that I think of often even though he passed away many years ago.

My favorite park is located near the Old North End. Monument Valley Park is within walking distance. The park is filled with trails, a play area for the kids, and creek. If you like to jog or ride a bike for recreation this is a great park for that. Monument Valley Park stretches for miles. When I lived in the area we used to walk downtown as well. Sometimes a morning stroll for coffee and a bagel. Other times an evening stroll for pizza or what ever we were in the mood for. There are lots of options in downtown Colorado Springs when it comes to eating.

I know I loved living in the Old North End part of town. If you are interested in living in or around this area I can help. Search for homes in the 80907 area code or contact me directly so I can also help you in your search.

If you have a home to sell request a free Comparable Market Analysis and lets talk.


Sunday, August 14, 2016

Market Area Report for July

I have the July Area Report laid out in an easy to read graph that analyzes data as it affects the Colorado Springs housing market area. The market summary offers a look at sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of the graphs break out trends by price increments. Take the sting out of listing your home and learn more about your area. If your not listing your home but interested in buying this can still help you. It's great to know the area you plan to buy in. July Market Area Report




If you would like to keep up with the market trends in Colorado Springs or the surrounding area contact me for up to date stats: www.nikimcelroy.com

Let me know what area or areas you are interested in.

Learn more about what there is to do in Colorado Springs by visiting Beautiful Places To Visit In Colorado Springs

Wednesday, August 3, 2016

Should You Buy Or Rent A Home

When you rent you are at the mercy of the landlords wishes.
Why should you buy instead of rent? Both options have there pros and cons...

     Lets consider the positive side of buying first. You get to experience the joy of home ownership. The longer you keep your home and the more you improve it the more it is worth. Statistically owning a home is the largest wealth accumulation most Americans will achieve. For most of us accumulating wealth is at the top of our goals list. Owning a home gives you that chance to reach that goal. It could also benefit your children should you choose to hand the home down to them.

      As the cost of rent continues to rise you can avoid those constant rent increases. This year in Colorado Springs we have had the largest increase in the nation. It went up over 11 percent according to KRDO.com. As a homeowner, if you don't take out a second mortgage, your mortgage payment will stay fairly constant. What that means for you: you are able to save more money because your mortgage payment stays about the same. Those that rent continue to pay more for where they live. It becomes more and more difficult to keep up even with a yearly raise from their employer.  The raise you receive will slowly begin to impact your life for the better.

     Now for the downside to home ownership. When something like the furnace or refrigerator goes out it will be up to you to fix it. You no longer have the benefit of calling the landlord. There is up keep on the house that will need to be done. Sometimes the upkeep is as simple as keeping the lawn mowed and the weeds out of the flower bed.  Less simple would be painting the house or replacing the carpet. You may be able to take care of some upkeep on your own which will help keep costs down. You will want to put some money away to be able to cover your homes needs and avoid running up credit cards for unexpected and unwanted surprises.

     A subject that does not get thought about is taxes and homeowner insurance. Yes you will hear about it at the closing table, but because it is wrapped into your mortgage payment you wont think much about it.When the value of your home goes up so will your property taxes. Likewise when your property value goes down your property taxes will eventually go down as well. When the taxes change you will get a notice of payment increase or decrease from the mortgage company. In most situations it wont be a big difference. Your home owners insurance can be another reason for a change in payment. In Colorado Springs after the fires happened most of us saw a huge spike in the cost of our mortgage insurance. Withing two years mine nearly doubled. Most of the time your insurance will only raise slightly. You will want to keep in mind during the course of your mortgage the payment may go slightly up or down depending on the circumstances. Be prepared for change.

     When it comes to renting there isn't as much to consider. The best part of renting is that if anything major needs to be done it falls in the hands of the landlord. If  your lucky the land lord will pay to have someone tend to the yard freeing you from that responsibility as a renter. If you don't plan on putting down roots renting frees you to just move along when your lease is up.

     The downside to renting is that you are paying off someone else's mortgage. Any value in the house is that of the owner. When your lease runs out your rent may go up or you may have to move if they don't renew the lease with you. The house may get sold while you are renting forcing you into another situation where you have to move. I had it happen to me twice while I was a renter.

     When you rent, you put down a deposit. It seems like no mater how clean you leave a place the landlord doesn't give back the full amount you gave to them. Do you have a pet? You may not get to keep your buddy. Some places do not allow pets. There are now landlords charging pet rent. My personal opinion is that it is just ludicrous and just another way to bleed people for their hard earned money. Renting just doesn't give you the same freedom as being a homeowner.

     When you have made your decision to to purchase a home I will be here to help you every step of the way. You can start keeping an eye out for houses by browsing the neighborhoods you are considering at my website www.nikimcelroy.com. You can create your own account there for free by signing up. You can get new listings automatically sent to your email to make it more convenient to stay on top of what is available in the housing market. I hope to hear from you soon.

Are you not sure where to start when your ready to buy? This article may help: http://realestateincoloradospringsco.blogspot.com/2016/06/buy-home.html

You pets will enjoy your new home as much as you do!
Pets need a place to feel safe and run free.
Home ownership can help fulfill that need.


Saturday, July 23, 2016

Market Area Report for June in Colorado Springs


Keep up with the market and know your area.
I have the June Area Report laid out in an easy to read graph that analyzes data as it affects the Colorado Springs market area. The Market Summary offers a look at sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of the graphs break out trends by price increments. Take the sting out of listing your home and learn more about your area. If your not listing your home but interested in buying this can still help you. It's great to know the area you plan to buy in. June Area Report




If you would like to keep up with the market trends in Colorado Springs or the surrounding area contact me for up to date stats: www.nikimcelroy.com

Let me know what area or areas you are interested in.

Learn more about what there is to do in Colorado Springs by visiting Beautiful Places To Visit In Colorado Springs

Don’t Underestimate the Value a Real Estate Professional Brings to a Home Sale


This is some great information about what a Real Estate Agent does for you when you sell your home.


Well-known actor, humorist and economist Ben Stein once wrote a column entitled “Pieces of Heaven.” It was a love letter of sorts about the many homes he has bought, sold and enjoyed over the years – and the many real estate professionals who helped him find his little bit of paradise each time.

The properties were located all over the country – the California coast, Beverly Hills, the Eastern seashore and Washington D.C., to name a few. The one thing they all had in common, Mr. Stein said: “We could never have gotten them without brokers.”

“Every time I use an agent, I am amazed at how hard they work...always available around the clock,” he wrote. “They handle even the most minute details like inspections, and the big ones like financing. They show endless patience. They are relentlessly upbeat. They need to be a diplomat, design expert, financier, psychologist, surrogate parent, and often surrogate spouse.”

Some sellers may think you just stick a for-sale sign in the front lawn and buyers will beat a path to your door. Guess again! Real estate professionals develop comprehensive marketing plans, take professional photos, arrange inspections and appraisers, oversee home staging, hold open houses, place print and online ads, reach out to their networks to find potential buyers, and negotiate with buyers’ agents to get the best price and to get the deal closed.

Pre-sale activities

A Listing Agent’s work starts with researching the current market to aid the Seller in determining the right list price. They provide information about professionals who can help get the home ready for sale, arrange and develop disclosure packages for potential buyers.

Before any potential buyer sets foot inside the home the Listing Agent will work with the Seller to find out the Seller’s preferences regarding a menu of options as to how to best market the home. Depending upon the Seller’s preferences, the Listing Agent will assist in choosing a stager and/ or a landscaper to make the property look it’s best inside and out; to have multiple photos and/or a virtual tour, post signs, create a website as well as put together compelling marketing material to highlight it’s positive attributes and features.

Maximum exposure marketing

Putting the home on the local MLS is just the start of what goes into effectively marketing a home listing. Real estate professionals may create and distribute a just-listed postcard, create and send out open house invitations, submit ads to various publications, promote the home to the Listing Agent’s
network locally and regionally, as well as use relocation referral networks to promote the home to relocating buyers from around the country.

And because 90 percent of buyers begin their search for a home on the Internet, according to the National Association of REALTORS®, Listing Agents will promote the property on many of the country’s top real estate websites. Through web syndication, Coldwell Banker listings, for example,
are featured on an unsurpassed 700-plus websites around the world – including Coldwell Banker’s exclusive websites.

Open houses and tours

Listing Agents may host a broker’s open tour to let agents working with potential buyers see the property first before holding any public open house. They may canvass the neighborhood to invite people to the open house, as well as alert past client referrals about the listing. In addition, they will schedule individual showings to let more serious potential buyers tour the home personally and privately. Listing Agents will then follow up with those potential buyers and their agents to gauge their reaction and discuss next steps.

Negotiate offers/acceptance

Once a buyer or multiple buyers make an offer, Listing Agents will schedule an offer presentation with the seller, presenting the offer(s), discussing the terms and the seller’s options. At the Seller’s direction the Listing Agent will negotiate terms on behalf of the Seller and prepare contract documents. They coordinate and attend inspections and work with all parties to help resolve problems and challenges relating to the property. Last but not least, the Listing Agent will help secure all of the necessary paperwork and coordinate the closing.

There is much more to successfully selling a home than putting up a sign. A professional REALTOR® can make the process seem so much easier through their hard work, their expertise and their attention to details. Buying and selling a home is often the largest financial transaction that any of us will ever make. But with the help of a real estate professional, the next generation of buyers and sellers can find their own “pieces of heaven” – just as Ben Stein has been able to achieve so often over the years.

If you are thinking about selling your home request your free Comparable Market Analysis and lets talk.

List your home with a licenced Realtor for optimal results selling your home/
©2016 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office is Owned by a Subsidiary of NRT LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC. This blog piece is provided by Coldwell Banker.

Saturday, July 16, 2016

May Area Real Estate Report For Colorado Springs Colorado

Learn about the market before you list your home.
I have the May Area Report laid out in an easy to read graph that analyzes data as it affects the Colorado Springs market area. The Market Summary offers a look at sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of the graphs break out trends by price increments. Take the sting out of listing your home and learn more about your area. If your not listing your home but interested in buying this can still help you. It's great to know the area you plan to buy in.
Check out the May Area Report .


If you would like to keep up with the market trends in Colorado Springs or the surrounding area contact me for up to date stats: www.nikimcelroy.com

Let me know what area or areas you are interested in.

Learn more about what there is to do in Colorado Springs by visiting Beautiful Places To Visit In Colorado Springs