Colorado Springs Real Estate Investing Podcast

We’ve seen inflation and interest rates tick up over the past few months, which creates a lot of uncertainty and concern.  Many of our clients are coming to us with questions about what it all means and what they should do.  Today, we’re going to talk about what we’re seeing, our expectations, and where there are opportunities in the marketplace.  The market is changing, but change creates opportunities.

Everyone is talking about inflation lately because it’s definitely going up.  Traditionally, real estate is the best hedge against inflation.  And since inflation is bigger than all of us, we just have to jump on the train and let it take you where it’s going.

The best way I can wrap my mind around why real estate is the best place to park my money is this: I’m using leverage to purchase a property, borrowing 75-80% of the asset’s value, meaning I’m only putting down 20-25%.  If inflation is causing asset values to rise, I get to keep 100% of the equity differential.  If a property value goes up $10K, I get to keep all of that equity, even if I only put down 25%.  I don’t have to share $7,500 with the lender.

We all know interest rates have been steadily climbing since the end of last year.   At the same time, we’re also seeing significant rent growth all over Colorado.  This helps with the cashflow spread that is constricted from higher interest rates.

When we fill out our spreadsheets, our usual assumptions are 3% or 4% appreciation and rent increase, but these are no longer the standards.  I encourage everyone to play around with the numbers on their spreadsheets and see how slight adjustments change things.  How does higher rent appreciation affect your returns?

None of us can change the market, so we need to change our strategies.  The same approach we took when interest rates were low isn’t going to work in today’s market. 

We haven’t talked about Adjustable-Rate Mortgages (ARMs) because we’ve been spoiled with 30-year fixed rate loans that had historically low interest rates.  Now that interest rates are increasing, it’s worth looking into ARMs if you have the risk tolerance for them. 

As of the time of this recording, generally speaking, ARM loans can bump your interest rate down pretty significantly. Some people using an ARM could see a .75-1% drop, from ~5.5% to 4.5%.  These rates are typically locked for 5-7 years, though the exact terms vary. This can be a good move for an investor who doesn’t plan on holding onto a property for too long, especially if the rest of your debt is locked in at lower rates for 30 years and you have adequate cash reserves.

If you’re looking into an ARM, make sure you understand all of the terms of your loan.

Cash flow is tough to come by in this market, and if that’s a priority for you, moving away from a traditional long-term rental can help.  Room by room or medium term rentals are great ways to boost cashflow, though they are more time intensive. 

With these types of rental strategies, you are running a business or paying a property manager to run it for you.  However, we’ve seen clients cash flow while paying PMs to run these kinds of rentals, so they are a good option if you have the appetite for them.

If your preference is to operate a long term rental but you still want to cash flow, Colorado Springs may not be the right place for you to invest.  Looking south to Pueblo, it’s possible to buy a single-family home for around $200K and cashflow $150 a month.  That market is rapidly changing, but still provides an option for those who want a lower price to entry and the possibility to cashflow. 

Some of my clients are looking into new builds to get equity.  The initial purchase price of new builds tends to be higher than existing inventory and they don’t often cash flow, but if you can get in during the first phase of development, you’ll have automatic equity as the rest of the neighborhood is built.

One client of mine bought a townhouse in Colorado Springs during phase one of construction for $330K.  Now that the neighborhood is in phase three, the same home is going for $350K.  That client has $20K in equity just because they bought at the right time. 

That doesn’t mean that every new build will appreciate $20K in a few months. But since we don’t expect prices and rents to collapse any time soon, the worst-case scenario is prices stay flat.  That’s still a good place to put your money as inflation increases. Plus, builder’s warranties can reduce capital expenditures for the first year or so.

As the market continues to shift, we’re going to keep updating you on the latest trends.  In the meantime, reach out with questions and fill out our consultation form for a one on one strategy session.

The MLS trends data for April 2022 is out, and we have all of the stats.

It continues to be a seller’s market, and we hit a new record median sales price at $480K.  A year ago, the median sales price was $420K.  Active inventory increased 31%, but that’s only an increase of 200 homes in actuality.  On the plus side, we’ve seen appraisals coming in at offer price more often, meaning those buyers didn’t have to fund an appraisal gap.

Listen to the full discussion with Chris Lopez, Envision Advisors agent Preston Newberry, and lenders Joe Massey of Castle and Cooke Mortgage and Travis Sperr of Renovo Financial.

For information on how to start investing in Colorado Springs, check out our free 2021 Colorado Springs Real Estate Investing Guide.

Reach out to us for an investment consultation.

We recently brought Dan Haberkost on the show to talk about how his business of buying infill lots influences his real estate investments.  Once he buys the lots, he either builds on them or sells them to another developer.  New builds are a hot topic right now, so he’s back today to talk more about the process of buying a lot and building on it. 

To hear all of the nuances of our conversation, check out the podcast or YouTube video. 

Dan’s business is focused exclusively on buying infill lots.  That means that someone else has already done the preliminary work needed of taking a piece of dirt and getting it ready to build on.  Infill lots are already zoned by the city, looked at by a civil engineer, and have utilities built out.  All Dan needs to do is pay the tap fee to turn on utilities. 

Raw land is untouched land that needs to be worked on before developers can build.  It can be very profitable to buy and prep the land because many institutional builders only want shovel-ready lots. 

Dan likes to build the same style of house on the lots he buys.  If there’s something unique about the topography that would mean having to alter the home design, he prefers to sell it to another builder.  In general, Pueblo West’s lots are all the same, making them easy to build on.

Different municipalities have different requirements for home designers.  Denver requires an architect to create home designs.  Pueblo West, where Dan builds the majority of his homes, only requires a designer.  Dan found a great designer who focuses on the types of homes he wants to build—3 bedroom/2 bathroom 1366 or 1477 sq ft houses. 

The designer’s plans are detailed enough that Dan’s project manager can use them to get bids from general contractors on materials and labor. 

The buyers for these homes fall into two main demographics: first time home buyers and retirees coming from a more expensive market.  Dan prefers to focus on building smaller, entry level homes as opposed to luxury homes because there’s less risk in simpler homes. 

From shovel to closing, it generally takes 4-6 months for 3 bedroom/2 bathroom ranches.  The pandemic and ensuing supply chain issues directly affected the cost and sales price of new builds.  Before, the homes cost about $190K-195K to build and sold for $250K.  Now, it costs about $270K to build a similar home, but the sales price has jumped to $395K.

One thing that helps offset the rising costs of supplies is that the land Dan buys isn’t expensive.  Generally, he’s able to purchase lots for $.20-.50 on the dollar, creating an extra margin for safety. 

Hard money usually works the best.  Because he doesn’t have his own cash in it, 10-12% in loan costs still end up being pure profit.  He’s been able to work out a deal with a local lender who allows him to treat the loans like a line of credit and he doesn’t get charged interest and fees until he draws money.  The lender has confidence in Dan because he uses the same business model over and over again, giving him a good idea of what to expect. 

Dan’s advice for anyone who wants to get into this space is to find someone who knows the market and learn from them.  Every area is going to have its own nuances that are critical to understand.  In Colorado, having enough water is a huge issue.  In Florida, where Dan is focusing on next, flood insurance is necessary for every plot of land. 

If you want to get in touch with Dan and learn more about his business, you can find him on social media.

His website is: https://danhaberkost.com/.  You can also find him on Facebook and Instagram.  

As prices increase and inventory remains low in the Springs, we’re keeping an eye on nearby markets, too.  If you are interested in investing in Southern Colorado, reach out to me.  I’m happy to explore your options in different markets and help you create an investing plan.

In today’s deal analysis, we’re looking at equity I’m taking from a Colorado Springs rental property and investing in a single family home in Pueblo. 

To see a video tour of the Pueblo house, go here.

It’s no secret that I’ve seen a ton of appreciation in properties from the Springs over the past couple of years.  Over the past year when rates were extremely low, I refinanced several properties that I previously  BRRRRed because there is so much equity in them. 

Recently, I looked through my portfolio to see which properties have higher interest rates paired with a lot of equity.  Those are the homes I targeted for a cash out refinance.  The property I chose to refinance for this deal is a single family home with a 4.5% interest rate.  I was able to refinance at 3.5% and pull out a little over $80K in cash. 

Even if I hadn’t purchased this property as a BRRRR, I still would have been able to pull cash out.  When I first refinanced the property, that loan was based off of its market value at the time of the refinance.  Since that refinance, the home appreciated an additional $150K. 

In our recent market update, we talked about cash-on-cash returns getting lower, but one of the benefits of this is that you end up with appreciation that turns into equity.  Part of real estate investing, especially now, is being smart about how you reinvest equity. 

I wanted to put my $80K in cash in Pueblo, since the costs to entry are lower than the Springs or Denver and the market there is strong.  Recently, an Envision Advisors client bought an attached single family home in the Belmont neighborhood.  Attached single family homes are kind of like side by side duplexes.  When the property next door to his went on the market, I bought it. 

The home is in a great neighborhood, close to shopping and the college.  It has 3 bedrooms and 2.5 bathrooms in 1400 sq ft.  This is a sizable house in a great part of town.  To see it in detail, check out this walkthrough video.

The property was listed at $220K, and I was able to buy it for $222K.  In Colorado Springs, it’s practically impossible to get a home for just $2K over list price.  In Pueblo, I was able to compete against multiple offers by going up a little in price without having to add an appraisal gap or limit inspection objections.  The most competitive aspect of my offer was a 2 week close.

The home inspection went really well.  The house was built in 1985, so it’s not too old, though the appliances were original.  This meant that the oven smoked up a bit, and I’m not sure if the dishwasher worked at all.  There was also a little exterior maintenance needed, such as mitigating wood rot. 

I was able to negotiate a seller credit of $2500. I hired a handyman to take care of most of the items and ordered all new appliances.  In my opinion, this house is about as turnkey as it gets.  

I used the Rental Property Spreadsheet to run the numbers on this house.

Interest rates are steadily going up, and the rate I was quoted was 4.875%.  I chose not to buy down the rate because the property is still sustainable even with the higher rate.  I’ll probably target this one as the next property to pay off because of the lower loan balance coupled with the higher interest rate.

Leah and I have noticed that Insurance rates in Pueblo tend to be higher compared to the Springs.  Overall, it’s negligible in the grand scheme of things but an interesting nuance to investing in Pueblo.  

I have also put this property under professional management at a cost of 10% of rents.

This property is expected to cashflow $1200 annually, or about $100 a month, with a cap rate of 5.2%. While $100 a month isn’t life changing, I’m happy to have a mostly turnkey property that I’m not self-managing.  I see the growth potential in this area and expect the home to appreciate over time. 

This is a self-sustaining property that I intend to hold onto and allow it to appreciate.  Real estate investing requires a long term outlook, and this property is poised to perform well in the long run.

The market is giving investors a lot of appreciation right now, which presents a great opportunity to take out equity and reinvest it.  Reach out to me for a comprehensive investment consultation and I’ll be happy to help you understand the market, run scenarios, and formulate the right move for you.

Today, we’re talking to real estate investor Dan Haberkost, who focuses on a niche area of the market.  In addition to investing in real estate, he buys and sells parcels of land in southern Colorado.  He describes himself as a wholesaler but for land.  This is a new area for us and one we’re excited to explore. 

Dan came on the podcast to discuss how his business works and how it allows him to invest in buy and hold real estate in the Colorado Springs area.  To hear more of our conversation, listen to the podcast or check out the YouTube video.

Dan buys and sells between 4-8 parcels of land a month in southern Colorado.  Land is a very transactional business.  Unlike traditional real estate investments, it’s a simple asset and doesn’t require a rapport with buyers.  Generally, land owners just want to verify they’re not being scammed.  They’ve typically owned the land for a while and simply want to get rid of it. 

Because all of the information about the land is a matter of public record, due diligence is minimal. 

Many people who buy land are looking for large, recreational acreage, such as places people can park their RVs.  However, Dan sticks to smaller infill lots.

Infill lots are those that have already been subdivided and have utilities and roads.  The largest parcel he’s purchased is about 1.6 acres.  Generally, someone already put a lot of time and effort into getting it to this point, and Dan has the option to either build on the lot himself or sell it to another builder. 

Dan usually buys the lots with cash, either from investors or, more typically now, his own.  Unless you plan on building your own house on it, you generally need private money opposed to a conventional bank loan.

Because most of the sellers have been sitting on these lots for many years, it’s sometimes possible to get owner financing.  There’s generally less urgency with land sales because the owners have been sitting on the land for so long that they aren’t pressured to act quickly.

Typically, developers sell lots within subdivisions to other developers, either smaller mom and pop companies or larger, nationally known ones.  Sometimes, they attempted to develop the subdivision but were unable to. 

For example, in the northeast side of Pueblo by the college, there is a lot of land that was bought by Canadian developers who had it annexed into the city for utilities.  Before they could finish developing it, the 2008 recession hit and the real estate market crashed.

Some of the undeveloped land has been sitting for even longer.  In Pueblo West, there is a failed subdivision from the 1970s.  At the time it was created, there wasn’t enough demand for it, but now more people are interested in moving into that area.

Dan either builds a house on the lot and sells it, or he sells it to another developer.  The ideal lot to build on is flat and sitting between other houses.  His ultimate decision depends on how much he can get for the lot and what’s going on in the market.

Although Dan is a real estate investor, he doesn’t rent out the homes he builds.  The costs are too high to hold onto the property.  However, if real estate prices continue to skyrocket, it’s possible renting the homes will make financial sense in the future. 

Water is an especially sticky issue in Colorado.  In Fountain, a town south of Colorado Springs, they put a moratorium on new water taps. 

Pueblo West recently made a deal with Pueblo proper to provide more water taps for a $1500 fee per tap. This is a more forward-thinking approach than other places that wait until they’re out of water to take action.

Homes in areas where there are restrictions tend to go up in value.  Dan is building a 3 bed/2 bath 1400 sq ft home in Pueblo West that typically sells for $250K.  Because development restrictions are constricting supply, he expects the home to sell between $385K-400K. 

For anyone interested in getting involved in this market, Dan recommends finding a subject matter expert who can mentor you.  Dan realizes in hindsight that many things would have been easier if he’d talked to someone who knew more than he did.  Finding someone who can teach you what they know will save you time and money.

If you want to learn more about Dan’s land business or his real estate investments, connect with him on social media. His website is: https://danhaberkost.com/.  You can also find him on Facebook and Instagram.  In between pictures of mountains, you can find out more information about the deals he’s doing.

The MLS trends data for Colorado Springs are now out, and we have all the stats and analysis you need to understand the market.

Here are the flash trends for March for CO Springs:

Year to date

Note: The above Executive Summary is from Lon Welsh of Your Castle Real Estate.

For information on how to start investing in Colorado Springs, check out our free 2021 Colorado Springs Real Estate Investing Guide.

Reach out to us for an investment consultation.

In this deal analysis, we’re looking at a rental property I recently purchased in downtown Colorado Springs.  This deal is all about that classic real estate mantra: location, location, location. 

This is the 10th property I’ve purchased.  I consider myself a pretty disciplined investor who tends to buy really solid properties that aren’t hedged.  While I wouldn’t recommend buying a home like this for a first-time investor who doesn’t have a cushion of other properties, I see this one as a little treat to myself of having a property in a fun location.

This is a single family house that was built in 1997.  It’s a fairly small 2 bedroom/1 bathroom 1000sqft home with a postage stamp sized backyard.  

This is by far the best-located property I’ve ever bought in my life.  It’s right in the center of downtown Colorado Springs, close to Denver Biscuit Company, and right across the street from the new soccer stadium.  Within 100 meters, there’s an apartment building that just opened and another that’s under construction. 

Location is the one thing you can’t change in real estate, and I’m expecting this appreciate with the development of the area.  As prices and interest rates keep going up, cash on cash returns and cap rates keep going down.  Putting money in a good location to hedge against inflation is a great long term investment.

I found this deal on the MLS.

The property was listed at $350K, and I was able to get it at $360K with an appraisal gap of $10K.  What helped me most in this transaction was simply calling the listing agent and finding out what the seller needed.  It turned out she was an older woman who no longer wanted to live downtown and needed time to find a new home.  I gave her a free 2 month rent back, and she accepted my offer.

My only inspection objection pertained to the roof and vinyl siding being nearly destroyed.  While vinyl siding is typical on the east coast where I’m from, it’s rare in Colorado because of its susceptibility to hail damage.  The seller filed an insurance claim, and I threw in a small portion of my commission as an agent to help cover the deductible. 

The rest of the house was in pretty good shape, but it needed considerable updating.  The repairs cost a lot more than I anticipated, which is a common refrain regular listeners hear from me.  One day I’ll learn my lesson not to underestimate repairs, but not for this property!

The renovation consisted of entirely redoing the bathroom, and painting the walls and cabinets. 

The numbers are a little complicated here.  I put in a $10K appraisal gap with the assumption the appraisal would come in low, which it did at $353K.  There are seller credits because I rebated my commission to myself. 

I closed on the property in November, which is why I was lucky to get a 3.375% interest rate.  If I were purchasing the property today, it would probably be about 4.5%. 

While an $1800 per month rent is aggressive for a smaller 2-bedroom home, the location makes up for it.  Nearby luxury apartments rent for $2200-2300 per month, and this home is a great option for someone who wants their own space and private yard downtown.

Although I’ve long been a proponent of self-managing, I’m getting to a point in my life where I’m starting to pay for property management.  This is one of the first properties I’m hiring a PM to manage for me.

The taxes on the property are surprisingly low at $450 a year, and I expect they’ll go up when the property is reassessed.  In all likelihood, the property has a senior exemption keeping the taxes low for now.

The annual cash flow for this property is about $1K and the cap rate is 3.9%.  We don’t often talk about returns in this range as being particularly good, but this goes back to the location and how it will appreciate.  I’m not buying this property with the hope of cash flowing now, and on paper, this is the worst performing property in my portfolio by far.  However, if I can sell it for a good chunk of money in the next couple of years, it could easily be my best property yet. 

Even with these lower returns, I’m still getting a 20% return on my investment, which is a very good return overall. 

I bought this property in November 2021, and since then, I bought another single-family home and a fourplex.  Now that I’m up to 15 doors, I am exhausted and want to sit back and enjoy the returns my portfolio is generating. 

If you want to get started on or add to your portfolio, reach out to me.  As an investor and an agent, I keep my finger on the pulse of the Colorado Springs and Pueblo markets.  I’m happy to help you find the right property to match your strategy and goals.

There’s no better way to hold yourself accountable for achieving your goals than telling other people what you’re planning to do.  With that in mind, I sat down with Envision Advisors agent Leah Keeling to find out how well she hit last year’s goals and what she plans to do in 2022. 

Before real estate, Leah worked in hospitality at a 5-star resort in Colorado Springs.  This experience helped fine-tune her people skills, in addition to honing her ability to multitask and be quick on her feet.  She worked in that industry for eight years before deciding it was time to scale up.  She’d reached the ceiling of what she could accomplish there, so she pivoted to real estate.

This turned out to be a great move: last year, she won Rookie of the Year with Your Castle Real Estate!

Last year, Leah focused on establishing herself in her new career and increasing her financial stability. 

When Leah started as an agent, she worked with a big-name brokerage the first six months.  She realized that she wasn’t getting the support she needed as a brand-new agent, so she wanted to make a switch.  She got a call from Tijae Stevens with Shorewood Real Estate, had a meeting that went well, and joined them.  She loved being part of a local Colorado company. 

Thanks to Shorewood’s affiliation with Your Castle, we were able to bring her into Envision Advisors.

Not only did Leah double her 2020 sales, she quadrupled them.  Her original goal was to close 12 properties, but with the momentum she had going, she upped her goal to 20.  By the end of the year, her total closed properties was 22. 

Before real estate, Leah’s main goal was pay her bills and keep a roof over her daughter’s head.  She relied on credit card debt just to survive.  Thanks to her success as an agent, she was able to adjust that goal to becoming debt free. 

Last year, she paid off all of her debt, and her credit score is shooting through the roof.  It was scary going from a W2 job to 1099, so being able to have reserves was the most important thing for her.  Achieving this goal makes her feel much better and is a huge milestone. 

Leah’s goals for this year are already shaping up to be a success.

Although she’s hesitant to put it on paper, Leah would love to double her sales from last year.  While rising interest rates and low inventory will make it more difficult, this goal is still achievable. 

Her main focus is on learning and growing as an agent.  Every transaction is different, so there’s a lot to take in and absorb.  She’s constantly learning and growing, which is helping her improve as an agent.

Another goal for our whole team is to expand down to Pueblo.  We want do 15 transactions down there, as well as create more content focused on this area.  We’re all excited for what this market has to offer our clients.

Leah is excited to start investing in real estate.  Her goal for this year is to build up her reserves so she can hit the ground running in 2023.  She wants to buy two properties: one primary residence that she intends on Nomading and a pure investment property in Pueblo. 

In order to achieve this goal, she wants to build up six months of reserves, enough for down payments, and personal reserves.  I love that Leah is focusing on reserves, since that’s an aspect of investing that I think is really important.

Leah already achieved her first personal goal for the year: take her mom on a trip to Hawaii.  This was the biggest dream of her adult life, and I’m glad she was able to spend time as a family in a great location. 

The second goal she has is finding a better work life balance.  As Leah’s clients know, she works tirelessly for them.  It’s hard for her to balance her personal and business time when she loves what she does.  But she also catches herself pulling out her laptop at night when she’s supposed to be unwinding. 

This year, she wants to find the healthy medium between working all the time and finding the best deals for her clients. 

I’m excited to see Leah work toward her goals this year, and I know she’ll equip herself with everything she needs to achieve them. 

If you have any questions for Leah or want her to help you find a property, reach out to her at [email protected]. 

This is an exciting deal analysis because the client used a couple of different strategies to optimize his investment.  By using a Nomad approach to buy the home, he gets the benefits of better purchasing terms and the enjoyment of living in a nice house.  Once he moves out, using a room by room rental strategy will boost his returns significantly. 

This investor already has a couple of properties in Denver and a long term rental in the Springs.  He was living in Denver but really liked the Springs because of how close it is to nature and the affordability of homes.  He has a flexible job and decided he wanted his next primary residence to be down here. 

His original plan was to do a house hack with roommates, but he ultimately decided to take a Nomad approach and live in the home with only his girlfriend and dog for a year before moving onto the next property.

This single family home is centrally located and has a nice yard.  It’s a 5 bedroom/2 bathroom ranch home with basement.  There are 3 bedrooms and a bathroom upstairs, plus 2 bedrooms and another bathroom in the basement.  Once he puts a little kitchenette in the basement rec room, it will be ideal for a room by room rental strategy.

I found this deal on the MLS.

The property was listed at $380K, and my client offered $420K.  He was competing against an ibuyer, a corporation that purchases properties and rents them out.  The seller liked that my client was a person and not a business, but wanted a more generous offer.  They agreed to an appraisal gap of $12.5K and limited inspection objection.

The home was well-maintained and no major issues were found during inspection.  We estimate he won’t need to spend more than $1500 to take care of some small items.

I used our Rental Property Spreadsheet to analyze this deal.

He’s using the property as a regular primary residence this year, so I’m fast forwarding to when he moves out.  We estimate that each bedroom will go for $650 with a total monthly rent of $3250. 

Since he plans on staying for the Springs, he’s going to self-manage the property. 

Typically, landlords who implement a room by room rental strategy cover all of the utilities of the house.  These numbers are based on what other clients spend on utilities in this area.

By using the room by room strategy, he’ll have an annual cash flow of just over $5K, a cash on cash return of 12.7%, and a cap rate of 6.5%.  It’s phenomenal to see a cash on cash return this high when the buyer only puts down $40K, which is about 10%.  It’s hard to cash flow in this market with so little down, but the room by room strategy really helps here.

This is a solid property in a convenient location that was in great shape when he bought it.  By using the Nomad strategy, he’s able to utilize the benefits of buying an owner-occupied property, namely less money down and a better interest rate.  Plus, he gets to enjoy living in such a nice home for the year. 

When he moves out, he can expect great returns from the room by room rental model.  If he repeats this strategy with his next property, he’ll be able to accumulate an impressive portfolio in just a few years.

If you’re interested in figuring out how to implement this strategy yourself, reach out to me.  I’m happy to sit down with you and put together a plan. 

The MLS trends data for Colorado Springs are now out, and we have all the stats and analysis you need to understand the market.

It continues to be a seller’s market: while there was an uptick in listings this month, the total active went down, which means that properties are going fast.  Prices continue to go up, which compresses cap rates and drives down cash on cash returns. 

Keep in mind, though, that cashflow was never the main draw for investing in the Springs, so this shouldn’t change someone’s overall investing strategy.  Remember the four ways to make money in real estate: cashflow, appreciation, debt paydown, and depreciation.  There’s more to long-term wealth building than just cap rates and cash on cash returns. 

We understand that the market is hot, but we’re still getting clients under contract and investing in real estate ourselves.  We talk about the reality of the market to set our clients up for success and help them refine their strategies for current market conditions. 

Looking at this February 2022 vs. Feb 2021:

The market continues to be red hot.

Source: The above is an executive summary from Lon Welsh of Your Castle Real Estate.

For information on how to start investing in Colorado Springs, check out our free 2021 Colorado Springs Real Estate Investing Guide.