Colorado Springs homes, multi-family unit, and apartment complexes have the attention of seasoned real estate investors and new buyers. With lack of trust in the US economy, more people putting money into real estate in cities such as Colorado Springs. Buying a couple of homes in Colorado Springs Colorado near popular facilities or schools may be a good investment proposition.
There are demands for rental homes in Colorado Springs. Recent ramping up of programs and personnel at Fort Carson is just one reason. Potential home buyers unable to qualify for home loans or down payment requirements in El Paso County must continue to rent. People who have gone through foreclosure need to rent.
Tenants of Colorado Springs CO homes find freedom in renting. They do not have to pay property taxes, maintain property, or landscaping.It allows flexibility to move with the employment opportunities. With so many variables in play, it’s not simply young folks who are renting these days.
According to Jay Parsons of MPF Research, residential Colorado Springs investment properties are experiencing low vacancy rates in all five submarkets. Because it is a midsize city, Colorado Springs is considered a secondary market. Denver, a primary rental market, is also experiencing low vacancy rates.
There are numerous investment options for Colorado Springs real estate. Some buyers hold the property until it appreciates. They may hold it long enough to sell for retirement. Others actively rent properties and offer property management services. Another group of investors are still finding homes Colorado Springs to fix up and sell.
Tenants are sitting out of the home buying market, pushing markets up. Author Dawn Wotapka in the Wall Street Journal (7/5/12) says USA landlords have boosted apartment rents to record levels. The nation’s vacancy rate fell to 4.7 percent, down from first quarter.
Values of apartment buildings are increasing. On July 6, 2012 in the Colorado Springs Business Journal, Amanda Miller reported that LLX Central Development has purchased 110 units of the Amber Ridge Apartments and 90 units of the Cottonwood Park complex next door. Both are successful.
As developers jump to deliver new apartments, there could be the risk of over emphasis on apartments. Builders are also appealing to renters to enjoy single-family homes. The Journal article reports Pulte Group recently introduced a line of homes marketed to be “more affordable than some monthly rents.”
For information about possibilities, contact Ann Heiring, top local REMAX agent at (719) 440-1010 or Toll Free at (800) 246-8978 to learn how our acclaimed city can work hand in glove to help you achieve your lifetime goals. In appreciation for those who serve our nation, Ann offers rebates for active and retired military.
Colorado Springs homes for sale under $200,000