The economy in Colorado Springs has experienced remarkable growth this year -- especially in terms of residential real estate and the rental value of apartments. There has been a 7 percent increase in rental income from apartments, and a 4 percent market vacancy for apartments. The growth has attracted investments from Denver and the West Coast, who currently have their sights on Colorado Springs as a profitable real estate investment opportunity.
If you're a homebuyer in Colorado, you might feel like your options are limited. That's because we're currently experiencing something of a "house-drought" in the state. This is excellent for people who want to sell their homes; as soon as they put their homes on the market prospective buyers come knocking. However, it presents real challenges for people who want to find the home of their dreams at an affordable price.
In September, the online retail giant Amazon announced that they are seeking to build a second corporate headquarters and are waiting on competing bids from state and local governments. The New York Times named the Denver area as the best choice for the new headquarters, which promises to bring up to 50,000 jobs and $5 billion in local investments.
Are you thinking to invest in real estate property for the first time? Maybe you've owned your home for many years, but now you're thinking of investing in commercial or residential property for purely investment purposes. If this sounds like you, there are three categories of risk you'll want to know about when it comes to real estate investment:
One of the first decisions you'll want to make before you even start looking for a second home is how much of a fixer upper are you looking to buy. Many savvy investors enjoy picking up homes that can easily have sweat equity built in them. However, if you purchase a home that has too many flaws, then you may cut into your budget and the turnaround time that you intend to be able to flip or rent it within.
If owning a ski home is your dream, you're probably considering which options could be most appropriate for you and your family's needs. One question you'll need to debate is whether a ski condo or a ski house will be best. This article will discuss the potential benefits of both these options.
The metro Denver area has experienced a dramatic rise in the cost of rent. During 2017's second quarter the metro area reported average monthly rent to be $1,419. This represents a 3.5 percent increase compared to the second quarter last year, when the cost of monthly rent on average was $1,370.
When you are looking for a home, you likely have a list of things that you need and want. You might even have an idea about what the home should look like. The trouble with many real estate purchases is that people who make them get so stuck on the emotional and mental attachment to a home that they forget they need to do their due diligence on the home.