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Year in review: Real estate

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August 27 Flying off the shelves If someone put a home on the market in Colorado Springs, chances are good it sold within two months. As of the end of June, single-family homes spent an average of 62 days on the market, the lowest number since June 2006, when the Pikes Peak Association of Realtors… Continue Reading Year in review: Real estate

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Year in review: Commercial real estate

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Year in review: Commercial real estate

Commercial real estate The past year has brought optimism. Vacancy rates are down across the board, supply and demand are beginning to turn the economic tide and the year has been marked by several newsworthy transactions. These pieces highlight some trends and shine light on the underpinnings of a few of Colorado Springs’ most lucrative… Continue Reading Year in review: Commercial real estate

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Historic Alamo Hotel building sells for $5.9 million

The historic four-story Alamo Hotel building in downtown Colorado Springs was recently purchased for $5.9 million by a local investor. Matterhorn Development LLC sold the 42,556-square-foot building, which was constructed around 1900, to Carlisle’s Alamo LLC. Matterhorn purchased the property in 2006 for just $200,000 less than the sale price. Cascade Commercial Group brokered the… Continue Reading Historic Alamo Hotel building sells for $5.9 million

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Sierra’s recap – positive yet uncertain

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Sierra’s recap – positive yet uncertain

Sierra Commercial Real Estate’s annual Colorado Springs Market Outlook, released Tuesday, shows positive indicators of market growth and health from the past year while conveying the uncertainty — yet hope — for continued reinvigoration. “As 2013 begins to wind down, it is apparent that there has been a slight shift in the regional marketplace with… Continue Reading Sierra’s recap – positive yet uncertain

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Griffis/Blessing group buys Ridgepointe

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Griffis/Blessing group buys Ridgepointe

A Colorado Springs-based real estate investment group recently purchased Ridgepointe at Gleneagle Apartments for $30.3 million. Griffis/Blessing Inc. finalized the purchase of the 240-unit property on Dec. 3 with $22.5 million in financing from Freddie Mac and the remaining $8 million in investor equity, according to Chief Investment Officer Gary Winegar. The property is located… Continue Reading Griffis/Blessing group buys Ridgepointe

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No one showed up Wednesday morning to bid on the Antlers Hilton at the El Paso County Public Trustee foreclosure sale, so the property was sold to the lender for less than what was owed. The Antlers property had a deficiency of $3.6 million, and $38 million was the final amount the beneficiary paid for… Continue Reading Antlers sold to lender at public trustee sale

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Griffis/Blessing buys Ridgepointe for $30.3 million

A Colorado Springs-based real estate investment group recently purchased Ridgepointe at Gleneagle Apartments for $30.3 million. Griffis/Blessing Inc. finalized the purchase of the 240-unit property Dec. 3 with $22.5 million in financing from Freddie Mac and the remaining $8 million in investor equity, according to Chief Investment Officer Gary Winegar. The property is located in… Continue Reading Griffis/Blessing buys Ridgepointe for $30.3 million

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State housing price index dips slightly since August

The U.S. housing price index rose .2 percent overall from $231,000 in August to September’s rate of $232,000, according to a report by Lender Processing Services Inc. That national number saw a 9 percent swell from the $212,000 HPI rate that LPS marked the same time last year but a 14.1 percent decrease from its… Continue Reading State housing price index dips slightly since August

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Cimarron Hills named third least expensive suburb in U.S.

Cimarron Hills was named the third least expensive suburb in the United States, according to Movoto, a blog about “the lighter side of real estate.” Located in Colorado Springs, the suburb lies between Powers Boulevard and Marksheffel Drive, bordered also by Colorado Highway 24. Movoto Content Editor Randy Nelson studied the cost of living, food… Continue Reading Cimarron Hills named third least expensive suburb in U.S.

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As a young, single and freshly transplanted Coloradan, I’m no stranger to the woes of apartment hunting — as well as the dread of paying subsequent rent and utility bills. The Apartment Association of Southern Colorado released earlier this month its third-quarter “Colorado Springs Metro Area Apartment Vacancy and Rent Study,” which noted that our… Continue Reading Rent up, no vacancy: Young folks just want to move downtown

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