Stagecoach CO Real Estate

See the full list of pending and sold single family homes in Stagecoach, Colorado since January 2011 below.  The sales are separated by Stagecoach subdivision.

Stagecoach Real Estate

Stagecoach Colorado sales from November through March were almost entirely bank-owned condo and townhome sales.  There were only four single family homes (2 of those were in Red Hawk Village) that sold this winter.  Ten of the 15 sales were bank-owned, and four of the remaining five were short sales.  Only one sale on Willow Island was a non-distressed sale.  The good news is the distressed market for single family homes is gone, and with this last wave of condo and townhome sales, the foreclosure inventory is about gone.

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The Stagecoach Colorado real estate sales for October below. There were no bank-owned properties that sold because there are no bank owned properties currently available in Stagecoach. Both homes  sold for 94% and 95% of the asking price, and vacant land sales were both under $10,000.

If you are interested in Stagecoach homes for sale, please call us at 970.819.6372.

See all the Stagecoach Colorado homes for sale here.

Stagecoach land sales haven’t fared as well as the single family homes and townhomes that have been selling.  There have been only 9 Stagecoach lots that sold in 2011–an average of one a month.  Compare that to the 164 sellers who currently have their land on the market, and you can see how low the odds are for selling.  At current sales rates, there is an 18 year supply of lots.

What makes it worse for sellers is that five of the land sales were $10,000 or less.   Other sales reflect the huge discounting needed to sell:  For example, Lot 19 in Neighborhoods at Youngs Peak  just sold for $25,000.  It originally sold for $137,900 in 2006.

Stagecoach single family home sales have been solid in 2011. This year, there have been 18 sales, with 12 being REO/Bank-Owned properties.  People looking to buy now will find single family home inventory is low (especially in the popular under $350,000 range), and there are NO bank-owned properties currently available for sale.   In the last couple of years, 24 single family homes and 11 townhomes/condos have been foreclosed upon and sold in Stagecoach.

Bank shadow inventory and other foreclosed properties will most likely come on the market although I would be surprised if we see the volume of homes we’ve seen in 2010-2011.

The good news?  Prices can only increase after the distressed inventory is cleared out, and it’s looking like it could start to happen.  Here is a list of all the single family home sales in Stagecoach to date in 2011: [Read more →]

What’s selling in Stagecoach, Colorado?  It used to be that the answer was Distressed Properties.  Fully 76% of home sales in Stagecoach were foreclosures and short sales.  That’s just not true anymore.   Most of the REO (bank-owned) properties have sold over the last 18 months, and unless we see a second wave of foreclosures, we may be somewhere near the market bottom.

Look at the chart below which includes all the sales and pending sales since January 2011.  Most of the solds were foreclosures, but the more recent pending sales are not.  And if you look at the list-to-sold-price ratio, 6 of the 9 sales were 99% or more of asking price, usually driven by multiple offers.

This chart doesn’t include the townhomes which are now selling for around $70,000.

If you are looking to purchase a single family home in Stagecoach and take advantage of low interest rates, you should look this summer.  I don’t know what the future holds and what other properties may come on as bank-owned, but I wouldn’t doubt if prices for single family homes and townhomes are within a few percentage points of being as low as they are going to get.

See all solds/pendings below. [Read more →]

Stagecoach, CO

The Stagecoach Colorado real estate market has seen a lot of foreclosures and short sales since 2010.  In the last 18 months, 34 single family homes have sold or are currently under contract–and 26 of those, a whopping 76%–were bank-owned or short sales.

Here is a list of all the sold, pending, and active single family homes in Stagecoach under $350,000 since January 2011.  There are only four currently for sale.  And if you notice the days on market (DOM) for the pending sales, two of them went under contract the day they were listed and one of them was under contract within 9 days.  (That one probably was delayed with all the multiple offers the bank was considering.)

So if you are thinking about waiting until prices fall, you might want to change your strategy because there are more buyers than homes for sale under $350,000.

See all the Stagecoach homes currently for sale here.

Stagecoach has seen a lot of activity since real estate prices have dropped up to 70% from the 2007 peak.   Bank-owned properties represented the majority of sales over the last six months as primary and second home owners took advantage of the below-market pricing on newer homes.  If you didn’t buy one, you might have missed out because there are very few bank-owned properties left.  As of today, only one bank owned home in Morningside was for sale out of 38 residential properties currently listed.

The pending sales show the last of the REO wave.   Of the 11 Stagecoach homes/condos/townhomes currently under contract, 7 of them are bank-owned.

See all homes for sale in Stagecoach here.

or see the Stagecoach condos/townhomes for sale here.