Saturday Real Estate

RealEstate

Real estate is a great investment, whatever the economic

home is the largest investment people can make in their lifetimes, so if you are concerned about downpayment availability or credit history, our preferred lenders will counsel you throughout the process with the goal of finding the best loan or financing mechanism that meets you where you are. This detailed and valuable navigational assistance will result in the best option at the best interest rate and payment possible.”

Wondering how they can do this?

Empire Homes Colorado negotiates the best pricing available with trade partners and suppliers and then passes the savings along to their customers! You would be hard-pressed to find the customer service exhibited anywhere else! Grace Covington and Ron Covington have created an extended family with their customers, trade partners, team and the community at-large. They have been building community — one home at a time — for decades!

NEW HOME NUANCES

A new home gives homebuyers the opportunity to get what they want, the way they want it, where they want it! And, when you work with Empire Homes Colorado, you have your future home your way affordably! There are currently great pricing and financing options which will likely not be offered next year in the market as conditions improve. Among the many benefits of a new home are a builder warranty, new appliances and equipment, available landscaping options, maximized square footage and peace of mind. And quick move-in Inventory homes deliver all of the above with the most popular options currently on the market.

Imagine decorating your way, picking out the upgrades and amenities that best appeal to you and your lifestyle. Your home should be all about having your home, your way, for the ultimate in comfort and tranquility ... as you define it, from floor plan to homesite, to appliances and cabinetry, counter tops, finishes, fixtures, flooring, paint colors and more! When you build with Empire Homes Colorado, it is inspired by you!

Speaking of lifestyle, Empire Homes Colorado builds homes within a number of master-planned communities ...

MASTERFUL MIXED-USE

In master-planned communities like Banning Lewis Ranch, Wolf Ranch and Meridian Ranch’s Rolling Hills Ranch, it is likely that your neighbors are going to become your friends, thanks to likeminded interests and all the social and athletic activities available. Residents come together to enjoy gatherings, festivals, fundraisers and more, and share a strong sense of belonging.

Banning Lewis Ranch is a much sought-after community in El Paso County, where Empire Homes Colorado offers one-and two-story homes with 2-6 bedrooms, 2-5 baths, and 2-3 garage spaces. Home sizes range from 1,6423,846 finished square feet. Set against

the beautiful backdrop of Pikes Peak, the community’s amenities include pool and splash park, fitness center, pickle ball courts, parks and neighborhood charter schools. See models at 9784 Feathergrass Drive and 9395 Mayflower Gulch Way.

Single-family home plans at Wolf Ranch include main level living, ranch plans, and traditional two-story construction, ranging from 1,981 to 3,733 square feet, with 2-8 bedrooms, 2-5 baths and 2-3 garage spaces. Enjoy a panoramic view of the Rocky Mountains and sweeping view of Pikes Peak. There’s something for every family member, including pets: miles of trails for walking and running, parks for playing or having a picnic, a lake on which to paddleboard; a dedicated dog park and more! Two elementary schools, a middle school, and a high school are onsite, and a homeschool program is offered in the top-ranked Academy District 20 School District. See models at 6504 Loaderman Drive and 6293 Deco Drive.

The family-friendly Meridian Ranch offers spacious homesites with views of Pikes Peak and abundant opportunities for outdoor recreation. With quick access to Highway 24, the community makes getting to work a dream, and kids are mere minutes away from Meridian Ranch Elementary and Falcon High School! A finished basement in every home, ranging from 2-8 bedrooms and 2-5 baths, with 2-3 garage spaces,

is included! You can see one- and twostory homes between 1,652 and 4,499 square feet at 13010 Monument Vista Drive in Peyton. Whether you are looking for a ranch, main level living or a multigenerational residence, Empire Homes Colorado has your plan, whether you are a first-time homebuyer or looking to settle into your forever home. Check out the builder’s modern floor plans designed for the way people live today.

EMPIRE HOMES COLORADO BELIEVES IN COMMUNITY, COMFORT AND CAUSES! The common denominator for Empire Homes Colorado’s customers, trade partners, friends and neighbors is a bond with Colorado Springs and El Paso County! Every home is built to current codes, with sustainable, quality components, and care ... by people who care! Your

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Families target top-rated school districts this moving season

areas combine strong schools with more attainable housing costs, often due to their suburban or rural settings.

Other features drawing families include:

by Metro highlights where out-ofdistrict home shoppers are looking most between May and July 2025, focuses on areas with at least one public school rated eight or higher. The findings reveal that in 27 of the 50 most sought-after districts, high ratings come with a steep price tag — median listing prices in these toprated districts averaged 1.21 million, 135% higher than the surrounding metro areas. Leading the list is Carroll Independent School District in the Dallas metro, where homes come with a 390.9% premium compared to the metro average, followed by Laguna Beach Unified in Orange County, Calif. (322% premium) and Reed Union Elementary in the San Francisco Bay Area (304.7% premium). Still, affordability is influencing family moves. Several top districts — such as Johnston County in Raleigh, N.C.; Humble ISD in Houston; and Palm Beach County in Florida — boast median listing prices below their surrounding metro averages. These

• Appealing lifestyle: Rural and mid-size suburban districts like Wimberley ISD near Austin, Texas offer a strong sense of community and abundant outdoor amenities.

• Small class sizes: Saybrook (Hartford, Conn.) and Fayette County (Atlanta) provide low pupil-teacher ratios for more personalized learning.

• Walkability: Rapids (Grand Rapids, Mich. metro) and Alamo Heights ISD (San Antonio) score high for walkable access between homes and schools.

“School quality has long been a driver of homebuying decisions. Our data shows families are making tradeoffs — sometimes paying a significant premium for toprated districts, and other times prioritizing value in areas that still offer strong academics,” said Danielle Hale, chief economist

at Realtor.com. “This year, we also saw sizable interest in districts outside major urban centers, reflecting both affordability concerns and a desire for lifestyle amenities.”

The full list of Most Popular School Districts in the Top 50 U.S. Metros is available at realtor.com/research/

out-of-market home shoppers between May and July. To focus on schooldriven housing demand, our analysis included only listings with at least one nearby public school rated 8 or higher, according to GreatSchools ratings. In addition, we restricted our analysis to school districts with an average of at

Please note that there might be some overlaps between these popular school districts and our hottest zip codes. While top schools are undoubtedly attracting shoppers to certain zips, it is also likely that a district’s apparent popularity is influenced by broader market conditions and the overall appeal of the ZIP code itself. Therefore, whether the overlap is limited or extensive, it suggests that this is not a major concern / this may be an important contributing factor.

School district location types (urban, suburban, town, or rural) and pupil-teacher ratios were sourced from the National Center for Education Statistics. School walkability scores were aggregated from the latest property-level data provided by Local Logic, which measures the distance to the nearest elementary and high school for each known property within a district. 

REAL ESTATE Q&A: Do we need to undo converted garage built by previous owner?

BY GARY M. SINGER, TRIBUNE NEWS SERVICE

Q: We bought a house a few years ago that has a converted garage, which the seller told us was done by the book. When we recently put in a shed, the town sent someone out to inspect it. The inspector noticed our converted garage and wrote us a citation. Now they are saying we need to remove the improvements and turn it back into a garage. Do we have any options? — Mary

A: Buying and owning a home can come with surprises. For some, it might be discovering an old plumbing issue; for others, a zoning or permitting

ON GARDENING:

problem, like an unpermitted garage conversion. While local regulations vary, the steps to address these issues follow a similar pattern. First, stay calm and gather information. A citation from the town can feel overwhelming, but it does not mean you are out of options. Review the citation carefully to understand the violation and the applicable codes or ordinances. If anything is unclear, contact the town’s building or zoning department for clarification. Most jurisdictions have the authority to enforce zoning and building codes, which may require removing improvements

Prismatic Pink phlox is

BY NORMAN WINTER, TRIBUNE NEWS SERVICE

This was a leap year for several of my Luminary tall garden phlox in more ways than one, as I’ll explain shortly. For those newbies to the world of perennials, we always explain that in year one, they sleep. This means they are there and will bloom, but they are getting those roots established. Year two they creep, meaning they put on some width, or spread.

And in year three, they leap.

In the case of my Luminary Prismatic Pink phlox, I got the majestic bloom to about 3 feet in height. It has been a year of bloom, fragrance and butterflies. Can we say bingo!

When you are on the three-year plan of sleep, creep and leap with perennials, and particularly if you want color and pollinators, your plan is built also on hope. This bed I am talking about is layered from front to back and segmented like a blooming overlapping calendar. The pollinator crescendo will begin at the end of August with the blooms of the Temple of Bloom SevenSon Flower, which is a small tree. This was a painfully slow butterfly year in the Columbus, Georgia, area. They showed up and with abundance, but some great pollinator plants had finished blooming by the time of their arrival. I’ve seen phlox wow with pollinators in years past, but this year will go down as extra special in what I call the driveway bed.

At just the right time, Luminary Prismatic Pink lived up to its promise and bloomed

in perfect coordination with Rockin’ Playin’ The Blues salvia and Miss Molly butterfly bush.

The front of the bed has Serendipity ornamental allium, Totally Stoked Riptide Stokes aster, and the Maestro agastache or hummingbird mints. I also have Crowning Glory Princess Bride and Purple Reign eucomis or pineapple lilies. The Luminary Prismatic Pink phlox has brought in a variety of butterflies — American Lady, Gulf Fritillary, Silver-spotted Skipper — but the frequency of swallowtails has been something special. Tall garden phlox or summer phlox is known botanically as Phlox paniculata. Though they are native to 36 states, I have never seen one in the wild. The large number of states, however, is a key indicator of hardiness zones. This phlox is cold hardy in zones 3a to 8b.

The prerequisites are sunlight and consistently moist but well-drained soil. Maintenance is easy. And it is magical; every year I finally reach a point where I am determined to deadhead, and just like magic they flush with another long period of bloom. 

Norman Winter is a horticulturist, garden speaker and author of “Toughas-Nails Flowers for the South” and “Captivating Combinations: Color and Style in the Garden.” Follow him on Facebook @ NormanWinterTheGardenGuy.

like an unpermitted garage conversion. Enforcement must follow the specific wording of ordinances, and courts emphasize that municipalities cannot exercise unfettered power. Next, check your home’s records. When you bought the house, you should have received documentation about its condition, permits or disclosures. Look for any mention of the garage conversion. If it was done “by the book,” as your seller said, you might resolve the issue by providing proof to the town. If no permits exist, it could mean the work was unapproved, complicating matters but not necessarily ending the case.

This is also a good time to consult a professional — such as a real estate attorney or a contractor familiar with local codes who can help you understand your rights, negotiate with the town, or find ways to bring the conversion into compliance. Sometimes, applying for a retroactive permit is possible, though it might involve inspections or updates to meet current standards.

If the town insists that the garage be returned to its original state, you will need to do so. Be sure to document everything: take photos, keep copies of correspondence, and save receipts. Should you end up taking legal action

against the previous owner for failing to disclose the unpermitted work, this documentation will be essential.  Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation. Follow him on Twitter @GarySingerLaw

In a market defined by higher interest rates and persistent affordability challenges, a new report from Realtor.com reveals just how far buyers’ budgets are being stretched. According to the August 2025 Buying Power Report, only 28.0% of homes on the market were priced within reach of the typical household as the maximum affordable home price for a medianincome household in the U.S. has fallen to $298,000. The figure is down nearly $30,000 from $325,000, which is where it sat in 2019.

“Even as incomes grow, higher interest rates have eroded the realworld purchasing power of the typical American household,” said Danielle Hale, chief economist, Realtor.com. “This dynamic is forcing many buyers to adjust their expectations, whether that means looking for smaller homes, moving farther out or delaying the dream of homeownership altogether.”

While wages have risen 15.7% in the same time frame, they have not kept pace with borrowing costs. With mortgage rates hovering near 6.75% through July, the monthly mortgage payment on a $320,000 fixed-rate loan is $600 higher than it would have been at 2019’s average rate. That is an additional $7,200 a year out of the average buyer’s pocket, and that payment will not buy what it used to. In 2019 a $320,000 loan would have covered the entire median home price, while today it would need to be accompanied by a nearly 28% down payment to buy the typical-listing (priced at $439,450).

Where buyers have been hit hardest Buying power has dropped most dramatically in metros like Milwaukee, Houston, Baltimore, New York City and Kansas City, Mo., all of which have seen declines of 9%–10.5% in what the median earner can afford. In Milwaukee,

for example, which experienced the highest buying power percentage decrease of 10.5%, the maximum affordable home price fell from $314,000 to $281,000, a $33,000 drop.

While affordability declined, these metros still had a relatively high share of affordable homes — except for New York, where just 13.1% of listings in July were within reach of a medianincome household.

Where has buying power grown the most?

Only six of the 50 largest U.S. metros saw buying power increase since 2019. Leading the way was Cleveland, Ohio, where strong wage gains helped boost the affordable home price from $249,000 to $260,000 (+4.4%). Also, an impressive 50% of inventory on the market in Cleveland in July was affordable to median-earning households.

The market has peaked for 2025

BY JUSTIN HERMES, HOST OF REAL ESTATE REALITIES & BROKER OWNER AT THE PROPERTY GROUP

We’re at a pivotal moment in real estate, folks. Inventory is shifting, interest rates have hit a 10-month low, and the buyer–seller standoff is producing some wild new trends — both nationally and right here in Colorado Springs.

NATIONWIDE PICTURE: WINNERS, LOSERS AND SURPRISES

Across the United States, we’ve got 1,102,787 homes for sale, sitting on the market an average of 58 days. Some places are bursting at the seams with inventory. Washington, D.C. has seen 74% more homes for sale from pre-pandemic numbers. Arizona, Texas and Florida are all up double digits. Meanwhile, here in Colorado, we’re only up 2% when it comes to inventory prior to COVID-19 and now. This is really creating a healthy market and encouraging affordability for the long run.

The high-inventory Florida markets like Tampa, Fla., Orlando, Fla., and Miami are slashing prices. Florida and Texas in particular are wrestling with high property tax burdens and massive increases in property insurance premiums. Taxes are also a hot button of many homebuyers as they see such a wide variety from state to state. For example, a single-family home here in Colorado Springs that is valued at $450,000 would see roughly a $2,800 year tax bill while that same home in Dallas or Tampa would be roughly $12,000 a

year. Not only is this a large monthly cost, but it also holds appreciation down over the long term.

States with the lowest property tax rates 1. Hawaii 2. Alabama 3. Colorado 4. Nevada 5. South Carolina

THE LOCAL SNAPSHOT: COLORADO SPRINGS

In El Paso County, the average home takes 45 days to sell — faster than the national average. Our median price point sits at $470,000, right in the middle of the road. July brought 1,385 closed transactions — about 40% fewer than three years ago. That’s not doom and gloom — it’s the market normalizing after the COVID-19 buying frenzy.

We’ve got 2,220 single-family homes on the market, 383 townhouses, and 208 condos. And here’s the thing — we need more townhouses and condos to keep affordability in play. Pending sales are slowing, which may result in fewer sold homes for the month of August. Seasonally, we usually see home sales and inventory decrease as we head into the winter months. A sudden change to interest rates could change the normal year end numbers with buyers deciding to jump off the sideline

THE DELISTING PHENOMENON AND ACCIDENTAL LANDLORDS

One of the biggest changes this year? Delistings are up 48%. Sellers are pulling their homes off the market instead of dropping the price. We’re also seeing a surge in “accidental landlords” — folks who can cash flow their property thanks to a super-low interest rate and decide to rent it out instead of selling. This has added to rental inventory and made leasing more competitive.

Key Colorado Springs numbers – July 2025 • Median Sales Price: $470,000 • Average Days on Market: 45 • Closed Sales: 1,385 • Active Inventory: 2,220 single-family, 383 townhouses, 208 condos

RENTALS: TIME TO PLAY DEFENSE

rental market is no

Pandemic boomtowns like Phoenix; Tampa, Fla.; and Austin, Texas have seen a slight boost in buying power thanks to rising wages. But even with that progress, rapid home price growth has outpaced income gains, leaving few truly affordable options. In fact, in all six markets where buying power has improved, the share of homes affordable to median-income buyers is still lower than it was in 2019.

The impact of shrinking buying power and what would alleviate it?

Shrinking buying power is not just a matter of dollars and cents, it is reshaping buyer behavior. As affordability declines, many buyers are competing more aggressively for lower-priced homes, turning to rentals when homeownership feels out of reach or delaying their plans altogether — especially younger households without existing equity. This shift in demand also

affects sellers, who may need to adjust pricing expectations or prepare for a longer time on market. Looking ahead, restoring lost buying power will likely depend on a combination of modestly lower mortgage rates, stronger wage growth and, most critically, a boost in housing supply, particularly in the affordable segment. Until those conditions improve, today’s buyers will need to remain both strategic and flexible in navigating the market.

Methodology:

2019 income data from one-year ACS, 2025 income data from Claritas and is based on the latest census income estimates. Housing payments include principal and interest only, assuming 20% down payment, a 4% mortgage interest rate for 2019 and 6.74% mortgage rate for 2025. Maximum affordable housing payment calculated using the 30% affordability rule of thumb. 