There has been a lot of interest in investment properties in recent years. One in three properties purchased nationwide is now purchased as a 2nd home or investment property. Appreciation rates for property in El Paso County has not mirrored the national trend so buyers are still able to purchase properties at reasonable prices. The median price in Colorado Springs did jump from approximately $195,000 in April 2005 to over $212,000 in June 2005, an almost 9% increase for the quarter. There is a lot of new construction so the higher prices in this sector probably had a strong effect on the amount of the increase. We have set records this year for the number of homes sold and the median price.

Because of continued interest in foreclosure and investment properties I am including a link which will provide more information http://www.hud.gov/offices/hsg/sfh/reo/reobuyfaq.cfm. You can also go to www.hud.gov for the official government site to learn more about these properties. These homes are listed in the Pikes Peak MLS so I can get a list of the currently active properties at any time. Send me an email or call.