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2011 First Quarter Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from the first quarter. Single Family & Patio Homes

Black Forest: 34 Sales for a total dollar volume of $13,731,981

Briargate: 105 Sales for a total dollar volume of $29,410,125

Central: 106 Sales for a total dollar volume of $14,941,662

East: 100 Sales for a total dollar volume of $15,857,172

Fountain Valley: 213 Sales for a total dollar volume of $31,678,035

Falcon - Peyton: 106 Sales for a total dollar volume of $23,451,664

Marksheffel: 22 Sales for a total dollar volume of $4,546,171

Northeast: 129 Sales for a total dollar volume of $26,780,962

Northwest: 63 Sales for a total dollar volume of $19,191,240

Northgate: 62 Sales for a total dollar volume of $19,925,755

Old Colorado City: 34 Sales for a total dollar volume of $5,267,196

Powers: 174 Sales for a total dollar volume of $33,325,889

Southeast: 120 Sales for a total dollar volume of $14,198,057

Southwest: 112 Sales for a total dollar volume of $36,616,268

Tri-Lakes: 82 Sales for a total dollar volume of $31,606,608

West: 31 Sales for a total dollar volume of $8,334,900

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 1/1/2011 through 3/31/2011.  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."

 

2011 March Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from March. Single Family & Patio Homes

Black Forest: 13 Sales for a total dollar volume of $5,252,028

Briargate: 50 Sales for a total dollar volume of $14,176,744

Central: 53 Sales for a total dollar volume of $7,248,484

East: 38 Sales for a total dollar volume of $5,988,287

Fountain Valley: 95 Sales for a total dollar volume of $14,311,558

Falcon - Peyton: 55 Sales for a total dollar volume of $11,546,610

Marksheffel: 10 Sales for a total dollar volume of $2,122,432

Northeast: 60 Sales for a total dollar volume of $12,030,355

Northwest: 25 Sales for a total dollar volume of $7,651,740

Northgate: 28 Sales for a total dollar volume of $9,110,377

Old Colorado City: 16 Sales for a total dollar volume of $3,127,663

Powers: 77 Sales for a total dollar volume of $14,804,355

Southeast: 71 Sales for a total dollar volume of $8,345,555

Southwest: 50 Sales for a total dollar volume of $15,856,523

Tri-Lakes: 34 Sales for a total dollar volume of $12,133,933

West: 20 Sales for a total dollar volume of $5,355,900

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 3/1/2011 through 3/31/2011.  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."

 

2 Car vs. 3 Car Garage Value Difference

by The Colorado Springs Group™

Some Realtors haven't figure this one out, and this post is meant to benefit both them and the public in general. It really isn't that complicated, yet I was in a meeting the other day where the guess at a value range of an additional vehicle stall ranged from $2,500 to $15,000 on the same house in the city. That's a problem.

I'm sure I'll get comments referring to something I missed or difference of opinion, but I'm not creating a book to address all aspects here. I'm addressing the situation in general because it will help.

When you have a home with a 2 car garage being compared to a home with a 3 car garage, the value doesn't just go up by 5 or 10 thousand for every additional car stall a garage has. If it did, a 10 car garage is going to be a set value when in fact it's a big plus in certain communities and overkill in others.

The easiest way to figure out the difference is to take 2 homes that are identical in every way except for the garage, and in the same area, verify that they sold close to the same time, and then look at the difference of what they sold for.

If that's not available, you need to find the values of each extra stall... once again, #3 is not the same as stall #2, and #4 is not the same as #3. This can be done by using sold comps from the another similar area nearby. The same concept is used, you need 2 homes that are very similar with different sized garages that sold within a few months of each other. If you have to go back further in time just remember to apply any appreciation or depreciation that has occurred. If the values of the neighborhood you are using are different than the subject property, you have to keep that in mind as well when you are figuring out the value of the subject property. Remember, you are only looking for the value of the additional garage stalls.

Displaying blog entries 1-3 of 3

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686