Price Reduced $340K Colorado Mountains 35 Acres, 4 Bed 3 Bath

4550 Mitchell Mountain RD Westcliffe CO 81252 Home | Virtual Tour | Brochure | More Info | Contact Request More Info Send To A Friend Loan Calculator Map View Aerial View Local Schools Print Brochure Local Info For Sale Price: $340,000 MLS#: 527050 Bedrooms: 4 Bathrooms: : 3.00 Square feet: 3414 Lot Size: 1524600 Year Built: 2002 Great Views on 35 Acre Private Retreat Property Description 35 Acres of pure Colorado Mountain Pleasure. View of the Sangre De Cristo Mountains to the West to enjoy a perfect sunset while sipping wine on your deck. Very private living with no neighbors or road noise. Watch the clouds go by and enjoy the nature. Private Lake and National Forest access. Great layout and design with this home. There is a Large living room with floor to ceiling windows and a fireplace. HUGE country kitchen with a gas range and large island. Main floor master suite including a walk-in closet. The master suite has a 5 piece bath that is sure to please. One of the only truly master suites in the area for this price. The lower level has 2 bedrooms and a study. Also, included is a Very large rec room with walk out doors and a game room/bar. The Wet Bar includes a beer tap and wine fridge. Call your friends and plan your next party today. The House is fully equipped with High speed internet and cell towers are nearby. This makes for a great retreat while still being close enough to accomplish all your work. Call today 1-888-481-8641 Jay Carden Phone: 719-357-5226 Cell: 719-322-4939 Search the Realtor Database for Properties All information in this site is deemed reliable but is not guaranteed and is subject to change. Equal Housing Opportunity Real Estate Marketing Solutions ©2005-2010 ListingsMagic.com LLC

Colorado Springs Housing Inventory Has a Dark Side

What is “shadow inventory” and how is this going to impact home values in 2010? These are properties that are not yet currently on the market but potentially will be coming to market in 2010. Such properties include:

* houses taken overby banks and mortgage companies

* houses where the loans are at least 90 days delinquent (over 99% of these will become distressed properties that will be up for sale)

* houses whose sellers have waited for the market to improve






According to a recent Standard and Poors report, the existing foreclosure inventory pales in comparison to the number of homes about to come to market as distressed properties. In fact, the number of homes that are about to become distressed properties is 31 times greater than the number of homes currently on the market in that category!!

These liquidated properties provide the market with a supply of homes for sale. Home prices directly reflect the relationship between the supply and demand of properties for sale. Prices will remain level if a comparable increase in demand accompanies an increase in supply. Otherwise, an increase in supply will result in a decline in prices to attract demand.







Jay Carden
RE/MAX Properties, Inc.
Search the Colorado Springs MLS

Investors now is the time to purchase homes in Colorado Springs. These homes will be great buys!!! Check out an investing tool to help weed out the best deals: Colorado Springs Investor Tool

May 11, 2009 - 6:04 PM
RICH LADEN
THE GAZETTE
El Paso County's foreclosure activity worsened in the first quarter when compared with the same time a year ago, even as the rest of the state and several large counties saw their foreclosure problems ease, according to a Colorado Division of Housing report released Monday.

Foreclosure filings in El Paso County totaled 1,292 from January through March, a 6.3 percent increase when compared with the same period last year, the Housing Division said. A filing, which a homeowner receives after several missed mortgage payments, is the start of the foreclosure and can lead to the loss of a home.

Of the state's 12 most populous counties, three saw bigger increases: Mesa County, where Grand Junction's energy economy has slowed, saw a 47.1 percent jump in first-quarter filings, while Larimer and Pueblo counties each saw increases of about 10 percent. Boulder County had a 4.7 percent increase.

Adams, Arapahoe, Broomfield, Denver, Douglas, Jefferson and Weld counties, however, reported declines in first-quarter foreclosure filings, the Housing Division said.

Meanwhile, completed foreclosures increased 2.6 percent in El Paso County during the first quarter when compared with the same time in 2008. Mesa County saw an 83.3 percent increase in the first quarter.

The rest of the state's 12 biggest counties saw declines in completed foreclosures, according to the Housing Division. Completed foreclosures refer to homes whose owners fell into foreclosure and were unable to catch up on missed payments or work out deals with lenders; their homes then were sold at a county public trustee sale.

Statewide, foreclosure filings fell 7.6 percent in the first quarter, while completed foreclosures declined 26.2 percent.

Housing Division Director Kathi Williams said possible reasons for El Paso County's rising foreclosure filings include rising numbers of job losses and an oversupply of homes for sale, which increases competition and makes it tougher for homeowners facing foreclosure to find buyers for their properties. Also, about 6,500 soldiers being transferred to Fort Carson won't arrive until this summer; when they do, they're expected to help absorb a backlog of foreclosed homes.

El Paso County's foreclosure rate is not nearly as bad as some parts of the state, the Housing Division said.

El Paso County had one completed foreclosure for every 418.2 households during the first quarter of 2009. Adams County in suburban Denver had one competed foreclosure for every 237.5 households. Teller County's first quarter rate was one for every 222.4 households.

Jay Carden
Search the Colorado Springs MLS
719-322-4939