U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 09-05-2007, 09:50 AM
 
2,543 posts, read 2,126,493 times
Reputation: 1631
Default Why are the prices of houses falling in CO?

What's the deal? Is there a shortage of demand? Is the population not keeping up with demand? I was thinking about moving back to Colorado but i want to know how real estate is doing up there? Any one know?
Reply With Quote Quick reply to this message

 
Old 09-05-2007, 09:57 AM
 
Location: So Cal
320 posts, read 1,190,526 times
Reputation: 97
I have been watching the Denver area for over a year and prices are definately going down.I have seen some houses on the market for well over 6 months. Simple supply and demand, suppl is up demand is still there but with more supply something has to give, right now the prices are giving.
Though I don't see it being any different anywhere else, even in So Cal we are seeing a bit of a dip in prices. With the prez election coming up next year look for a bit of a spike next summer, just my opinion
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 10:08 AM
 
5,748 posts, read 7,013,820 times
Reputation: 4361
Oh man, you do know how to open a can of worms. Try searching the thread "Housing Decline" for an overview of the issue. You'll find a variety of opinions.
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 10:22 AM
 
Location: Chihuahuan Desert
2,480 posts, read 4,986,490 times
Reputation: 1119
It's happening everywhere, not just Denver.
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 10:34 AM
 
310 posts, read 18,786 times
Reputation: 111
Default Real Estate Market IS Crashing....

The market IS and has been....on a steady decline for over a year now....in most parts of the country.
A LOT of people are in deep sh*t who were victims of predatory lenders and signed on with ARM's (that have adjusted) and as a result....are now in forclosure. As a result, MANY homes are now back with the banks and their values are dropping. Vacant homes abound or are sitting on the market longer and longer.....unable to sell as the requirements to secure a home loan tighten as a result.
It WILL get worse....likely for quite some time to come.
Definitely a buyers market.
Price reductions abound and most homes/real estate has been way overvalued for far too long now.
You wouldn't believe the sheer number of "For Sale" signs in my area......seems like a HUGE number of homes are for sale....and NOT selling!
It HAD to happen! Real Estate has been CRAZY for far too long.....and it was just not right. Homes that were selling for 500k + just should NOT have been in the first place, IMO.
It has become the "Forclosure of a Dream" across the US as forclosures are now close to a MILLION strong and climbing everyday.
And I personally, hope....the Fed's don't bail out those who were just STUPID and/or blinded by GREED!
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 01:09 PM
 
Location: Colorado, Denver Metro Area
1,048 posts, read 2,937,474 times
Reputation: 383
ARM ---> Foreclosure ----> Too many houses on the market ---> Prices going down.
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 04:04 PM
 
432 posts, read 1,341,741 times
Reputation: 100
This is happening all around the country. I have not seen as much of a decline in the housing prices in Fort Collins area yet. It may happen it may not. The good thing about the front range is that it is still growing at a fast pace, so the demand is still there. This in return kinda evens things out. Not that we have a great market here in Fort Collins, don't get me wrong. It is still a tough time to sell, but if you are looking at buying right now you are in a good spot. Although I cannot predict the future, I believe that we will see a little more of a decline but the market will eventually pick up again. If you buy a house now and plan on staying in it for 5 or so years I believe you will still gain some equity.
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 04:12 PM
 
5,748 posts, read 7,013,820 times
Reputation: 4361
Quote:
Originally Posted by Tom Emmerling View Post
It is still a tough time to sell, but if you are looking at buying right now you are in a good spot.
Only if you can get your loan approved.
Reply With Quote Quick reply to this message
 
Old 09-05-2007, 09:56 PM
 
432 posts, read 1,341,741 times
Reputation: 100
Quote:
Originally Posted by formercalifornian View Post
Only if you can get your loan approved.
Very true. Right now without 10% down it will be really tough to get a loan. If you have the 10% and good credit no problem.
Reply With Quote Quick reply to this message
 
Old 09-06-2007, 06:00 AM
 
Location: Monument,CO
1,122 posts, read 2,778,040 times
Reputation: 798
Quote:
Very true. Right now without 10% down it will be really tough to get a loan. If you have the 10% and good credit no problem.
Tom- In 1990, this is what we needed to get a loan. About when did this change? Maybe it wasn't such a great idea after all, although it probably helped us when we sold in 2004.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top