The metal-insulator transition, and the associated magnetic transition, in the colossal magnetoresistance (CMR) regime of the one-orbital model for manganites is studied here using Monte Carlo (MC) techniques in two-dimensional clusters. Both cooperative oxygen lattice distortions and a finite superexchange coupling among the t2g spins are included in our investigations. Charge and spin correlations are studied. In the CMR regime, a strong competition between the ferromagnetic metallic and the antiferromagnetic charge-ordered insulating states is observed. This competition is shown to be important to understand the resistivity peak that appears near the critical temperature. Moreover, it is argued that the system is dynamically inhomogeneous with short-range charge and spin correlations that slowly evolve with MC time, producing the glassy characteristics of the CMR state. The local density of states (LDOS) is also investigated and a pseudogap (PG), identified as a dip in the LDOS at the Fermi energy, is found to exist in the CMR temperature range. The width of the PG in the LDOS is calculated and directly compared to recent scanning-tunneling-spectroscopy (STS) experimental results. The observed agreement between our calculation and the experiment suggests that the depletion of the conductance at low bias observed experimentally is a reflection on the existence of a PG in the LDOS spectra. The apparent homogeneity observed via STS techniques could be caused by the slow time characteristics of this probe. Faster experimental methods should unveil a rather inhomogeneous state in the CMR regime, as already observed in neutron-scattering experiments.