Just Listed: Colorado Springs Home with Great Floorplan

 
 
 

Welcome home!!!

This beautiful home offers a great floor plan and lots of extras. The location of the home is prime! It is in close proximity to military installations, local schools and shopping. Upon entry into the home you will notice the seamless transition from the great room to the kitchen. The great room offers natural light and a gas fireplace perfect for all of your gatherings. The kitchen offers lots of cabinet space and room for a dining area with access to the back patio. Downstairs this level presents a den, another bathroom and the laundry area. Lots of storage available on this level of the home. The last level of the home introduces the large 3rd room adorned with French doors and an open entertainment space. You can look forward to enjoyable summer entertainment in the backyard.

Listed by Wanda Wood for West + Main Homes. Please contact Wanda for current pricing + availability.

 
 
 

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Colorado Springs ranks as the nation's No. 2 city in annual Best Places to Live report

 
 

Colorado Springs, whose lifestyle and economy have garnered accolades in recent years from national publications and organizations, has another trophy to put on its mantel.

U.S. News & World Report on Monday ranked the Springs as No. 2 in the nation in its annual list of Best Places to Live. The rankings for 2022-23, based on an analysis of 150 metro areas, elevated Colorado Springs to second place from No. 6 last year.

"We’ve become pretty accustomed to ranking among the best places to live in the nation — now in our fifth year of ranking in the top six of 150 cities ranked and highest in desirability for four straight years," Colorado Springs Mayor John Suthers said via email. "These consistently high rankings are testament to the resilience and staying power of our city."

Among other recent rankings, the Milken Institute, a California think tank, rated Colorado Springs in March as ninth in the nation for economic performance; in late 2020, the city was named the 15th best place of technology workers by a tech industry trade association.

For its latest rankings, U.S. News used data from sources such as the Census Bureau, the U.S. Department of Labor and the FBI to measure the strength of each metro area's job market, housing affordability, net migration (whether people have moved into a city) and quality of life.

Quality of life, in turn, examined factors such as an area's crime rate, quality of education, health care quality and availability, commuting times and air quality.

In another element of its Best Places to Live rankings, U.S. News surveyed about 3,500 people nationwide and asked them to name the metro area where they'd most like to live.

That survey produced a top score of 10 for Colorado Springs; as a result, it will retain its No. 1 ranking in U.S. News' separate Most Desirable Places to Live rankings, which the city has held for four consecutive years.

"As circumstances change, and trends change, one thing has remained the same; people want to live in Colorado Springs," Suthers said in his email. "That’s evident by our perfect score and No. 1 ranking in the 'desirability' category which we’ve held for four straight years."

Only one city beat out Colorado Springs this year for the top spot in U.S. News' Best Places to Live list.

That No. 1 ranking went to Huntsville, Ala., which moved up from No. 3 last year.

Huntsville is Colorado Springs' chief rival to become the permanent home of U.S. Space Command, the coveted military installation that will bring thousands of jobs and billions of dollars in defense spending to its home city.

In the U.S. News analysis, Huntsville scored higher than Colorado Springs when it came to housing affordability (8.5 on a 10-point scale, compared with the Springs' 5.7); jobs (7.2 vs. the Springs' 6.1); quality of life (6.8 vs. the Springs' 6.4) and net migration (6.9 vs. the Springs' 6).

Colorado Springs' perfect 10 as a desirable place to live, however, doubled up Huntsville's score of 4.9.

"U.S. News & World Report was clear in the ranking that Huntsville’s desirability was very low, while houses in Huntsville are inexpensive," Suthers said. "This isn’t surprising. Cities that are not considered desirable places to live have lower real estate prices, due to simple supply and demand.

"Here in Colorado Springs we are a place that more people want to move, and more people want to buy a home," he said. "We are seeing growth — population growth, job growth and also housing growth. We’ve made great progress in our affordable housing efforts, and that’s important when you have a city like ours that continually draws new residents.”

For now, Space Command is housed at Peterson Space Force Base in Colorado Springs and will continue to operate there until at least 2026.

Former President Donald Trump, however, announced in January 2021 that Space Command would move to Huntsville — a decision the former president later said he made unilaterally and one that local civic and business leaders, state officials and members of Colorado's Congressional delegation are challenging.

Last week, a report from the Pentagon’s Office of the Inspector General that was obtained by The Gazette showed that a decision document briefed to Trump last year named Colorado Springs as the first choice for Space Command's permanent headquarters.

Despite U.S. News' kudos for Huntsville's lower housing costs and other factors, national security should be the priority when it comes to a decision on Space Command's permanent home, Suthers said, echoing concerns highlighted in a recent Government Accounting Office report. 

"No amount of magazine (U.S. News & World Report) recognition will change the fact that uprooting a vital command and delaying its ability to reach full operational capacity would be dangerous and irresponsible," Suthers said of moving Space Command to Huntsville from Colorado Springs.

Elsewhere in U.S. News' Best Places to Live rankings, Boulder slipped to No. 4 after ranking No. 1 last year; Denver plunged to No. 55 from No. 14; and Fort Collins also fell to No. 54 from No. 17.

The three areas have experienced "catastrophic wildfire seasons," U.S. News said in a news release, outlining why rankings dropped for some cities.

"All (Boulder, Denver and Fort Collins) fell from their previous rankings, as each of them had among the 15 lowest air quality scores out of the 150 metro areas on the list," according to U.S. News.

Keep reading on The Gazette.

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Homeowners are Seeking Roommates to Help Pay Their Mortgages

 
 

More buyers in the U.S. are opening up to the idea of renting out a room as expenses surge.

Buying a home may seem like a distant dream for many in today’s cutthroat housing market. That is, unless they’re willing to share that dream with a roommate or two. 

With the average U.S. mortgage rate above 5% and home prices at record highs, homeownership feels increasingly out of reach, particularly for young, first-time buyers. To make it work, some are renting out rooms or basements and using the extra income to help offset their costs. 

The practice, which has long been accepted in the U.K. and other European countries, is spreading to the U.S., where the number of buyers who considered renting out a portion of their homes for rental income rose to 31% in 2021 from 24% two years earlier, according to real estate website Zillow’s consumer housing trends report

“That increase in homeowners becoming residential landlords is consistent with the trend we see of buyers coming from a younger generation of side-hustlers aging into the housing market,” said Zillow economist Manny Garcia.

A Lucrative Side Hustle

Here's why homeowners are renting spare rooms for extra cash (%)

 
 

For some, the extra rental income is the only way they can afford to keep up with their mortgage payments and bills that are going through the roof thanks to roaring inflation. That’s why 24-year-old Josh Bowser and his now-fiancé went into the housing market looking for a property with additional rooms to lease.

Bowser knew he had to be strategic with his finances after graduating from college during pandemic-driven economic turmoil and a tight housing market. By living frugally, the young couple saved enough to put a down payment on a three-bedroom townhouse in a North Atlanta suburb in June 2021.

Their $2,200 monthly mortgage cost would have been a “stretch” with their combined incomes, Bowser said. So they found a tenant on Facebook Marketplace who pays $1,000 in rent to live in the second bedroom, subsidizing 45% of their monthly housing bills.  

To cover even more of their monthly costs, the young couple plan to rent out another small guest room downstairs.

“My fiancé and I just split the remainder of our housing expenses, which is probably less than what we'd be paying if we were renting. Instead, it’s going to the principal on our mortgage,” Bowser said.

Sharing a Home

Thanks to apps like Uber and Airbnb, younger generations are accustomed to sharing everything with strangers, from car rides to short-term rentals. It’s not a stretch to extend that concept to their own homes, particularly for millennials, who have about 20% less wealth than their parents had at their age and are still struggling to enter the housing market.

A whopping 67% of millennials and 57% of Gen Z in the U.S. said they were willing to share their homes in exchange for cash, compared to just 34% of baby boomers, according to a 2021 Realtor.com survey

Younger generations are much more likely to rent out their homes

“Affordability was already squeezing people,” said George Ratiu, a senior economist at Realtor.com. “It’s natural to think of their biggest asset — their home — as a potential income stream.”

For Chiffon House-Williams, a homeowner in Teaneck, New Jersey, the extra income erased any doubts she had about having roommates. 

“I’d never considered renting out my basement to a stranger before. It’s my house; that’s my safe haven,” said House-Williams. “But after I had to quit my job,  I thought, ‘Wait, this can be my income.’”

After the 36-year-old mom stopped working to take care of her son while he attended school virtually during the pandemic, she and her husband hired contractors in March 2020 to transform their basement into a one-bedroom apartment, outfitting the space with a standing shower, a kitchenette and a separate entrance for about $22,000 total. 

The couple used the app SpareRoom to find 42-year-old tenant Laura Martin, who has been paying $1,100 in monthly rent since 2021. House-Williams says they will have earned their money back and turned a profit by the end of this year. 

They’ve decided to do more renovations to make even more space to rent out. With plans to let her attic as well as her basement, House-Williams expects she’ll be raking in $21,000 a year in rental income. 

“I’m always thinking about how I can make money without putting in too much effort, that’s just how my brain is wired,” House-Williams said. “By renting out rooms, I’m literally making money in my sleep.” 

Keep reading on Bloomberg.

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6 Swanky Condo or HOA Amenities Buyers Swoon for but Rarely (or Never) Use

 
 

For people looking to buy a condo or a house that’s part of a homeowners association, the promise of swanky amenities they provide can seem like a total score.

Seriously, who wouldn’t want select access to a pool, spa, or private playroom for the kids? At least that’s the logic that tends to lure people when such “bonus” luxuries are offered.

But the irony is that, while these extras give the impression you’ll be living the good life if you move in, it’s useful to remember that you’re actually paying for them with your HOA dues. And the sad truth is that certain amenities end up sitting empty most of the time. Why squander money on that?

Real estate is expensive enough these days without wasting money on perks you won’t plunder, so make sure to take a step back when salivating over these common HOA conveniences. As nice as they might seem initially, experts say you might end up rarely (or never) using them.

1. Clubhouses

While the idea of a central gathering space might seem alluring, unless you’re planning a birthday party or family reunion, clubhouses are more often than not a wasted amenity.

“Clubhouses are notorious for not being used—most of the time they sit empty,” says Isaiah Henry, the CEO of Seabreeze, a company that manages over 90,000 commercial and residential properties. “There are some communities who host gatherings on a monthly or quarterly basis in their clubhouse, but they’re few and far between.”

Henry says that, in his experience, instead of a clubhouse residents prefer a community swimming pool or even a dog park.

2. Tennis courts

Do you even know how to play tennis? For a lot of people, the answer is no and as a result, this is an amenity that is rarely if ever frequented.

Professional tennis player and property manager Mario Musa says many people get excited when they find out about tennis courts being included in the condo he manages. Some even see it as an opportunity to try tennis for the first time. But in reality, he reports that only about 10% of residents ever use them.

“Even though there is access to all the essential equipment, people don’t frequent the courts,” says Musa, who admits that might be because tennis is not a beginner-friendly sport. “It sounds exciting at first, but I can tell from the footprints left on the clay courts that after a few minutes of trying to hit balls, most people end up taking photos for social media instead of playing a real game.”

Unless you’re a serious tennis player, chances are this won’t score as an amenity love match for you.

3. Screening rooms

Access to a private movie theater may seem Hollywood glamorous, but it’s rarely worth the price of admission (or your HOA fees).

“The idea may fascinate individuals when they are making a buying decision, but once you start living in the condo, trust me, I can tell you from personal experience this amenity has little or no use for residents,” says Kamyar K.S., CEO of World Consulting Group. “Sure, they are good for streaming the Super Bowl or watching the Academy Awards once a year, but because residents rarely hold screenings, most of the time the room is dark and gloomy and looks more like a haunted house.”

And really, Netflix and chill works better when you’re on your own couch, right?

4. Roof decks

While most people find roof decks to be a very visually appealing amenity, they don’t spend as much time up there as they imagine they will.

Though the COVID-19 pandemic might have changed this trend a bit because people were desperate for outdoor space wherever they could find it, in general, property managers report that almost always roof lounges are underused.

“In my last condo that I lived in, I found that the roof deck was rarely used,” says Mathias Ahlgren, CEO and founder of Website Rating. “In fact, after working long hours at the office, I, myself, would often prefer to go out to spend time with friends rather than go home to the roof deck.”

The good news with this one is that if you are a roof deck kind of person, you probably won’t be fighting your neighbors for a chaise lounge.

5. Recreation centers

n addition to on-site gyms (which are actually one of the most used amenities), some HOAs include admittance to nearby recreation centers as part of the package. And unless they’re convenient or you have kids to entertain, it’s likely an added luxury that will languish.

“As part of my HOA for my condo, I am required to pay a fee for admittance to four recreation centers that actually offer some pretty great amenities like a rock-climbing wall and an outdoor pool, but I find that since I work full time, I just don’t use them at all,” says Colorado high school teacher and condo owner Doreen Smith. “If my own kids were still at home, maybe I would use them more, but at this point, I actually pay for a separate gym precisely because I don’t want to be around a bunch of screaming children now.”

In other words, being honest about where you are in your life will help you determine your amenity priorities.

6. All of them—if they have limited hours

If you’re thinking of moving into an HOA community where you’ll be paying fees to use the amenities, make sure to check when they’re open.

“Being a condo owner in a building that offers a multitude of amenities such as a pool, gym, and theater, it gets very frustrating that, due to the amenity hours of operation, I can’t use the amenities as much as I’d like because I’m working,” says Krisztian Riez, a digital consultant for the property management software company Condo Control Central.

“Because I am unable to use the amenities during the week, I try to take full advantage of the amenities on the weekend. However, using amenities I pay for only two days a week doesn’t really suffice for the extra monthly cost.”

For more info like this, go to Realtor.com

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Landlords Can Now Screen Your Pet’s ‘Credit Score’

 
 

Did you know that pets are “one of the largest sources of ancillary revenue in the rental-housing industry” and yet “some operators are leaving potential revenue on the table” by charging their future tenants a flat-fee pet deposit?

PetScreening, a North Carolina startup that invented a credit score for pets (a “FIDO” score), wants you to know this. Its risk-assessment algorithm evaluates pets based on data entered by their owners — “name, breed, weight, sex, age, pictures, vaccination information, micro-chip data, and behavioral information” — which it claims is more accurate than unsophisticated landlord assessments. Those judgments often include stereotypes about sizes and breeds. This is unfair to both pitbulls and, possibly, the bichon frise.

Pretending to be an operator who is leaving potential revenue on the table, I entered myself into the site’s revenue “fetcher” worksheet as a 20-unit building owner who charges a $200 flat pet fee. My personalized estimate showed I was only making $1,590 in pet revenue when I could be making a potential $6,201 with PetScreening’s services. The automated company email signed off with “woof regards.”

A FIDO score can range from one paw (very bad) to five paws (very good). Landlords can then set a sliding scale; the more “risky” the pet is (inclined to bark or walk with a patter-patter-patter rhythm detectable to downstairs neighbors, among other sins), the more a building owner can justify charging their tenant pet rent and fees. (The incentive for prospective tenants to be honest about their pet, we assume, is that they will likely get caught trying to minimize Frank Jr.’s tendency toward loud whimpering.)

For the honor of entering their pet into a database that will probably prompt their landlords to charge them more money, owners pay PetScreening a $20 fee for their first pet profile and $15 for each additional pet. (Landlords pay nothing to utilize the service.)

Among PetScreening’s current users, one property management’s pet policy states that “Paw Scores of 2 or less will require an additional security deposit of $500 per approved pet.” (Fish tanks under ten gallons were assigned a Five Paw Score; over ten gallons, Four Paws.) Another charges a $150 pet deposit plus an option of paying a one-time $200 fee or a $20 monthly fee for the duration of the tenancy — but only if you’re a Five Paw pet. A One Paw pet has to pay a whopping $500 pet deposit plus a $400 one-time or $40 monthly fee. (New York’s 2019 rent reforms prohibit landlords from charging more than a month’s rent for a security deposit whether or not a tenant has a pet, but many landlords still charge fees.)

PetScreening believes that its scores could encourage more building owners to allow pets, as opposed to enacting blanket bans — at a cost for tenants, of course. But isn’t behavior in the eye of the beholder? Doesn’t love cloud all judgment? What is it to be a “good boy”? PetScreening has nothing to say about these things.

Read more like this on Curbed.

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