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Old 12-28-2013, 08:22 AM
 
Location: 0.83 Atmospheres
11,477 posts, read 11,552,056 times
Reputation: 11976

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Quote:
Originally Posted by Timmyy View Post
I guess I sold my place just in time. It has been in the news twice. This is the latest: Denver condo struggles without hot water | 9news.com
Ouch. New buyer hates you.

I grew up right across Iliff from there.
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Old 12-28-2013, 10:30 AM
 
Location: Littleton, CO
3,158 posts, read 6,121,826 times
Reputation: 5619
Quote:
Originally Posted by Timmyy View Post
I guess I sold my place just in time. It has been in the news twice. This is the latest: Denver condo struggles without hot water | 9news.com
This problem is not going to get fixed without a special assessment. When I lived in a condo, I carried a supplemental insurance policy to guard against special assessments. Cheap, but when each condo owner is levied for a share of the cost of fixing the problem, it is worth it.
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Old 12-31-2013, 10:33 AM
 
Location: Denver, CO - Capitol Hill
557 posts, read 810,690 times
Reputation: 519
Quote:
Originally Posted by davidv View Post
This problem is not going to get fixed without a special assessment. When I lived in a condo, I carried a supplemental insurance policy to guard against special assessments. Cheap, but when each condo owner is levied for a share of the cost of fixing the problem, it is worth it.
HOA and the building manager make all the difference.

Ours thankfully has a hefty reserve.
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Old 12-31-2013, 10:41 AM
 
Location: In The Thin Air
12,566 posts, read 10,613,411 times
Reputation: 9247
Quote:
Originally Posted by JD401 View Post
HOA and the building manager make all the difference.

Ours thankfully has a hefty reserve.
Woodstream Falls has been a mess for a long time. There was a special assessment proposed back around 2005 or 2006 for the underground pipes at approximately $20,000 per unit give or take. People just abandoned it completely. The assessment eventually was cancelled and the management company was fired. Condemnation has been brought up too.
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Old 12-31-2013, 11:56 AM
 
Location: Denver, CO - Capitol Hill
557 posts, read 810,690 times
Reputation: 519
Quote:
Originally Posted by Timmyy View Post
Woodstream Falls has been a mess for a long time. There was a special assessment proposed back around 2005 or 2006 for the underground pipes at approximately $20,000 per unit give or take. People just abandoned it completely. The assessment eventually was cancelled and the management company was fired. Condemnation has been brought up too.
Wow, sounds it.
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Old 03-20-2014, 02:43 PM
 
Location: 5280 above liquid
356 posts, read 624,008 times
Reputation: 384
Without salaries increasing accordingly I don't see how the market can support such real estate prices. Thoughts?
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Old 03-20-2014, 02:55 PM
 
286 posts, read 351,472 times
Reputation: 286
Quote:
Originally Posted by ELCO5280 View Post
Without salaries increasing accordingly I don't see how the market can support such real estate prices. Thoughts?
Lots of out of staters (more expensive states) selling and then moving here.
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Old 03-20-2014, 02:59 PM
 
Location: 5280 above liquid
356 posts, read 624,008 times
Reputation: 384
Quote:
Originally Posted by philberf View Post
Lots of out of staters (more expensive states) selling and then moving here.
I would agree however, I don't think that is the majority that are buying right now? Even if they move here and place 20% down on a $400k home they would still have to have a salary to support the $2,000 + monthly payment. I don't see how this isn't another mini-bubble about to burst when salaries can't keep up with the prices.
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Old 03-20-2014, 03:25 PM
 
5,444 posts, read 6,989,042 times
Reputation: 15147
Quote:
Originally Posted by ELCO5280 View Post
I would agree however, I don't think that is the majority that are buying right now? Even if they move here and place 20% down on a $400k home they would still have to have a salary to support the $2,000 + monthly payment. I don't see how this isn't another mini-bubble about to burst when salaries can't keep up with the prices.
I honestly don't see it as a bubble. I don't think prices will fall dramatically for anything. What I think will happen is that the prices will flatten out. The issue though is that properties are appearing on the market and receiving offers within 24 hours. Because of this, pricing will continue to increase. Eventually, the pricing will level because the properties will be on the market for an extended period of time. Pricing might drop a slight amount, but I don't think it will be anything crazy like the previous bubble.
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Old 03-20-2014, 03:41 PM
 
Location: 5280 above liquid
356 posts, read 624,008 times
Reputation: 384
My contention is the banks are artificially lowering the inventory by holding on to a vast majority of their BOP thus artificially inflating prices. Banks know if the released all their bank owned properties at once it would kill the prices. Am I wrong?
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