An update on lots sales in Cathedral Pines:

As of October 1, 2008 there have been 8 lots close. Sales Prices range from $285,000 up to $485,000. Of the 8 that have closed, 5 have sold between $450,000 and $485,000. Lot sizes on all of these range from 2.52 up to 3.16 acres.

There is currently one lot under contract..asking price is listed at $375,000.

There are currently 54 lots available. Prices range from $199,900 up to $560,000.

An update on home sales in Cathedral Pines:

There are currently 5 existing homes for sale. Prices range from $899,000 up to $1,500,000. There have not been any sales of existing homes since October 1, 2008.

MLS lists 8 homes that are "to be built". Prices on these ranges from $888,500 up to $1,388,000.

Ther are LOTS of LOTS on the market in Cathedral Pines (no pun intended of course).

There are currently 70 lots on the market of which 2 are under contract. Prices range from $239,900 to $617,623. Quite the range. Of coure there are many with views and many with just trees and some with a little bit of both.

The prices however send a very confusing message to the public. Why such a range?...this "soft" market can't be responsible for all of it. 

When the developer originally sold their lots to builders,  a restriction was put  in place to discourage builders from "flipping" thier lots for a profit. This restirction translates into fees paid to the developer for anywhere up to $90,000 per lot. WOW. That restriction is about to be lifted at the end of this year.

But in the meantime, the Developer decided toliquidate their lots before the builders holding lot inventory decided to do the same thing. So, they dropped their prices to rock bottom so that they would sell before the builders listed their lots at prices not reflecting the "fee".

Unfortunately, this move on the Developers part has left many builders "holding the bag" AND has caused chaos in the appraisal world.

Cathedral Pines is still a wonderful subdivision..2.5 acre lots, D20 schools, not too far out.

Cathedral Pines is located in the Northern part of El Paso County. It is approximately 810 acres. There are currently 4 filings with 157 lots  broken down as follow:

Filing 1: 59 lots

Filing 2: 54 lots

Filing 3: 42 Lots

Filing 4: 2 lots

Filing 5 is pending County approval for approximately 13 lots. The developer is giving the County Parks and Recreation $150,000 as well, hopefully to be used towards a Nature Center similar to the one at Fox Run Regional Park.

All lots are at least 2.5 acres Lots in Filing 2 have amazing views of the Front Range as they are above the tree line. Lots in Filing 1, 2 and 4 have some views but do have many trees offering privacy.

The community is covenant controlled with annual dues of $350.

There is open space as well as hiking trails throughout the subdivision.. The Lodge at Cathedral Pines serves as a Community Center and Sales Office. The Center is available to residents for events and gatherings. The development also has water features near the facility.

The developer is offering it's last lots for sale to the public. As of this week there were 13 lots left for sale.

Cathedral Pines is located in School District 20: Pine Creek High School, Challenger Middle School and Edith Wolford Elementary. It is located 1 minute for Black Forest Regional Park, 10 minutes from Fox Run Regional Park,  and 5 minutes from The Club at Flying Horse.