One of the major buyer benefits of this market is the opportunity to get into a neighborhood that was unaffordable just two years ago. Mountain Shadows is a great example. Values have slid by 5% in two years (one of the lowest rates of depreciation in Colorado Springs, and in fact, in the West) and interest rates have dropped a full percent. Homes that were worth $305,000 two years ago are now worth $290,000 and the borrower can afford 11% more mortgage since the rates are now at 5.00% flat. So a $260K buyer at 6% can now afford a home that was in the low $300,000's just 18 to 24 months ago.
And even better... that $290,000 house is in a market with only 2 months of supply. Demand is out-pacing supply now in certain zip codes, and 80919 is one of them (under $350,000). With pent-up demand taking action, prices are now not only stabilized, but set to rebound.
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Enter 4510 Granby Circle.
At the gateway to the prestigious Mountain Shadows neighborhood, this home is a dream for those that want to live where they recreate. Across Centennial is Pinon Valley Park, home to dozens of child soccer games in the spring and fall and pick up football and ultimate frisbee on local lunch breaks. Pinon Valley sits at the entrance to 450 acres of open space, Ute Valley Park, one of the jewels in the crown of Colorado Springs Park System. The almost 8 miles of hiking and mountain biking trails offer wilderness-like experiences with a suburban access. Just to the south is world-famous Garden of the Gods. More trails, more hiking, more biking, an outstanding road bike circuit, horseback riding, and of course, beginner to technical rock-climbing. Five minutes north up Centennial to Woodmen is Blodgett Peak Open Space, 167 acres ringed by Pike National Forest and the United States Air Force Academy. This is why the west-side is such a magnet for recreation buffs who live, work and play in Colorado Springs (Outside Magazine's Number One City to Live in 2009).
Nearby is the up and coming dining corridor of Garden of the Gods. Less than one mile away is Marigolds, Ai Sushi, Great Harvest Bread Company and Trinity Brewing. Jun's Sushi Bar is less than five minutes south. Three grocery stores are less than a five minute drive and downtown is exactly 12 minutes away (Bijou Exit 141 off of I-25).
With the privilege of so much to do and enjoy, it's easy to see why so many buyers compromise on their housing qualifications to live in Mountain Shadows. But why compromise when you can have:
- Just under 3000 total square feet?
- Master, twin 14x11 secondary bedrooms and laundry upstairs?
- Master assets like vaulted ceiling, 12x10 retreat, veranda with Pikes Peak View, Five-Piece Bath and Huge Walk-In Closet?
- Formal Living Room, Spacious Family Room?
- Open Corridor of sight-lines between Family Room, Dining Area and Kitchen, all improved and tied together with hardwood flooring?
- Kitchen with island, generous cabinet space and pantry?
- Family Room with spacious room for modern media, speaker wiring and walk out to back deck?
- Nine Foot Ceilings on the main, walkout lower level, private backyard, city light views, stucco exterior and high-quality Saddletree Homes construction?
This is one home that doesn't require a compromise. Mountain Shadows and modern living converge at a great price... 4510 Granby Circle.