Parade of Homes kicks off

Filed under: real estate column |

This Robert Scott custom home is in Pine Crest at Pine Creek.

Every year, the Housing and Building Association of Colorado Springs’ Parade of Homes tantalizes the community with fresh new home design and décor. This year will be no exception.
The event opens this weekend and will include 29 homes on two main sites at Flying Horse and Banning Lewis Ranch, as well as 16 homes on individual scattered lots.
Twelve of the homes are priced at $1 million or more, and two are priced at more than $4 million.
So far, the buzz is focused on a Walt Disney Signature Home by Drexel Heritage and on the Sony Lifestyle Electronics Signature Home, both at Flying Horse and built by Moeller Custom Properties.
Tickets are $10 for adults and $5 for seniors, and may be purchased at any area Safeway store or at the Parade of Homes site. Public tours (booties included) are from 10 a.m. to 6 p.m. daily.
Feeling lucky? There’s also a $5,000 grand prize drawing courtesy of Drexel Heritage Home Furnishings and Interiors for anyone attending.
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High-dollar ‘new money’

In order to learn about who buys and owns top-tier homes and how they make those purchases, Coldwell Banker Previews International surveyed 683 brokers who specialize in the upscale home or estate market.
Ninety-six percent reported that their multi-million dollar home customers are “self-made” millionaires with “new money.”
The top professions among million-dollar homebuyers fell into the following categories: 88 percent were business or corporate executives, 37 percent were physicians, 31 percent were lawyers, 30 percent worked in finance and 14 percent included entertainers, entertainment executives or professional athletes.
The study also found that for 64 percent of the company’s customers, the square footage of a house was more important than the size of the property. Fifty-eight percent of sales associates polled said the typical size of a preview-level home sold during the past year was between 3,000 and 5,000 square feet, while 27 percent of respondents said the typical size was between 5,000 and 8,000 square feet.
Forty-two percent of the sales associates surveyed indicated that their luxury customers typically put a 20 percent to 30 percent down payment on a million dollar-plus home, with 25 percent of clients putting down between 30 percent and 50 percent.
And brokers who work with wealthy buyers had better study up on special skills.
Seventy-eight percent of the Coldwell Banker agents said that the buyers’ key requirement was that brokers maintain privacy and/or confidentiality. Almost 44 percent said that customers require their real estate professional to be able to work well with their executive assistants, CPAs, attorneys and other representatives.
Asked which “must haves” were expected in luxury homes, 60 percent of sales associates said buyers want media rooms and “wired homes.” Gourmet kitchens, granite countertops and wet bars are no longer considered luxuries by upper-end buyers.

Shopping center gets facelift

Pikes Plaza, an inline retail center in the 2200-2300 block of East Pikes Peak Avenue, is undergoing an extensive fa