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Investors chasing a good deal at or near market-bottom have begun to make their move in the Pikes Peak region. The Christian Bookseller’s Association’s 42,470-square-foot building on five acres just sold to a Colorado Springs investor for $3.6 million, more than the property’s $3.3 million assessed value. The buyer, 9240 DTC LLC, is a local… Continue Reading Investors getting back into the game as market turns

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February existing home sales drop 0.6 percent

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Sales of existing homes fell for a third straight month in February, pushing sales down to the lowest level since last July. There is concern the fragile housing rebound is faltering, making it harder for the overall economy to recover. The National Association of Realtors said today that sales of previously occupied homes dropped 0.6… Continue Reading February existing home sales drop 0.6 percent

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The local commercial real estate market continues to show signs of life. The 11,663-square-foot Centennial Health building at 3480 Centennial Blvd. has sold for $2.05 million. The sale includes 1.58 acres of land. Built by the Colorado Springs Osteopathic Foundation in 2006, the building is being renovated by the new owner, Majors Property LLC of… Continue Reading Centennial medical building sold for $2.05 million

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State Division of Real Estate Director Erin Toll, who is on leave from her job, has hired an attorney who specializes in employment rights of public workers. The Denver Post reports that she has hired Evergreen attorney Bill Finger. Finger declined to say whether Toll’s leave is forced or voluntary but said she is protected… Continue Reading State Real Estate Division director hires lawyer

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Division of Real Estate director on leave

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Colorado Division of Real Estate Director Erin Toll is on leave from her job. She declined to comment about the nature of her absence. Spokesmen for the division and Gov. Bill Ritter declined to comment because it is a personnel matter. Earlier this month, her office disclosed that American Home Funding, which employs state Sen.… Continue Reading Division of Real Estate director on leave

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ERA is doubling its franchise agreements in Colorado Springs, but there are some distinct differences in the way each operation does business. The move to add Roger Herman’s Herman Group Real Estate will more than triple the number of ERA-related agents and brokers in the market. While the two will cover much of the same… Continue Reading Two ERA franchises with very different business models

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Two Windsor, Colo., developers are offering 5,000 acres of residential and commercial properties in Northern Colorado for $177 million. The properties include 9,370 lots in Windsor, Fort Collins, Greeley, Timnath, Berthoud, Loveland, Johnstown, Mead and Severance. The properties are listed with Harrison Resource Corp. The package of properties is being marketed as the “largest single… Continue Reading Looking for a bargain? 5,000 acres for sale at 44 percent discount

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Not surprisingly, California Casualty Corp. took issue with the CSBJ’s 2009 commercial real estate “Year in Review,” which stated that the firm had vacated its 122,500-square-foot Class A office building at 1650 Telstar Drive on the Briargate Business Campus. In reality, said Sierra Commercial Real Estate listing brokers, Randy Miller and Brian Wagner, the company… Continue Reading California Casualty has room at the top for lease

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Commercial real estate

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The Pikes Peak region’s commercial real estate market has thrived for years thanks to new and expanding national corporate players, local developers and small business start-ups. But as industry brokers, investors and analysts prepare for 2010, most acknowledge that commercial real estate investment has become increasingly challenging — and paydays less frequent — since mid… Continue Reading Commercial real estate

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Home prices declining slower in Colorado Springs

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To begin the year, there’s good and not-so-good-news regarding home prices in the Pikes Peak region. The area compared favorably with the rest of the country, based on First American CoreLogic’s loan performance home price index. Based on the latest HPI results reported during December, home prices had continued their year-over-year decline nationally through October… Continue Reading Home prices declining slower in Colorado Springs

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