Teach me about the Colorado Springs Market

[Jamie Greenberg]

Hi everyone.  My wife and I are considering a move for our primary residence from San Diego, and are looking at the various Colorado markets.  I know this is an investor forum, but I'd like to treat our personal home purchase as much like an investment as possible.  We're looking at the whole I-25 Corridor, but I wanted to ask specifically about Colorado Springs, as the prices there seem a bit lower than further north.  After we sell our San Diego home we should have quite a bit of cash on hand and we'd be looking at a max budget of $300K after purchase and any renovations, but it would be great if we could spend much closer to $200K.  We're not looking for a huge home (1200-1600 square feet is plenty) but a decent sized yard would be a plus.  We COULD pay cash for the home if that makes a great deal possible...but ideally would prefer to get a mortgage and invest the rest of the money (in other real estate, stocks, etc.).  

We'll be in Colorado Springs for a few days mid-march (before heading further north to check out the areas around Denver/Boulder/etc.) so I want to make sure we tour all the potentially interesting areas.  Any recommendations?  What should I know about the market in this area?  Is crime really as big a concern as some other forum posts make it sound?  Just trying to get the lay of the land so we can make the most of our few days in town.