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Old 05-27-2015, 04:55 PM
 
Location: Colorado...
663 posts, read 818,361 times
Reputation: 901

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Quote:
Originally Posted by rumline View Post
Also unless you move to some other metro area that isn't appreciating as much, your gains aren't really what they seem to be.
Not only that, but your assessments and taxes go up, up, up. You get to share your newfound largesse with the tax authorities.

Be careful what you wish for...
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Old 05-28-2015, 08:16 AM
 
Location: Phoenix, AZ
1,810 posts, read 2,090,775 times
Reputation: 2795
Quote:
Originally Posted by skins_fan82 View Post
that is flippin' nuts!

Not to put my personal business out there......but to put things in perspective for new construction, we bought our new construction house in Parker for $365,000 (base price) back in September. Our very same house is now selling for $420,990!

The exact same house, with maybe a few grand in incentives, is selling for $51,000 more today than what we paid 9 months ago! holy ****.
I bought a year ago (a resale) and my same place has gone up roughly 10% in value since then. This very same thing happened in Phoenix about 2-3 years ago (I bought 3 years ago there and sold a year ago). My house went up in value almost 15% in value in less then 2 years. Right as I was selling it started to stagnate and prices have remained level ever since and average days on market has risen significantly. The difference is, Phoenix has not kept pace on job growth and wages plus the investors all left for greener pastures. Denver continues to generate jobs like crazy (wage growth is slower). I predict it will slow down significantly when either a) job growth slows down substantially and/or b) lack of wage growth finally has an impact, especially once interest rates rise, making us hit a price ceiling and pricing a significant number of potential buyers out of the market.
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Old 07-22-2015, 06:45 AM
 
Location: The Berk in Denver, CO USA
14,054 posts, read 20,393,173 times
Reputation: 22845
Default How times change

When Sun Valley (a neighborhood in the City & County of Denver) is hot, then Denver is on fire.

Steam on the Platte a gem of a property
"Veteran Denver developer Susan Powers on Tuesday unveiled plans for a $50 million, mixed-use development on a 3.2-acre site on an all but forgotten gritty stretch along the Platte River near" Mile High Stadium.

Think about this people: Sun Valley !
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Old 07-22-2015, 07:40 AM
 
Location: lakewood
572 posts, read 400,198 times
Reputation: 309
whittier is hot/desirable too now also, it's kinda crazy out there....
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Old 07-24-2015, 11:40 PM
 
Location: Arvada, CO
13,241 posts, read 24,454,663 times
Reputation: 13011
Quote:
Originally Posted by davebarnes View Post
When Sun Valley (a neighborhood in the City & County of Denver) is hot, then Denver is on fire.

Steam on the Platte a gem of a property
"Veteran Denver developer Susan Powers on Tuesday unveiled plans for a $50 million, mixed-use development on a 3.2-acre site on an all but forgotten gritty stretch along the Platte River near" Mile High Stadium.

Think about this people: Sun Valley !
Yeah. I think Villa Park and the Barnums are already gone.

What a shame.

Westwood, Mar Lee, you're next.
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Moderator for Los Angeles, The Inland Empire, and the Washington state forums.
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Old 07-25-2015, 08:39 AM
 
Location: Denver
3,199 posts, read 2,650,328 times
Reputation: 2231
Quote:
Originally Posted by davebarnes View Post
When Sun Valley (a neighborhood in the City & County of Denver) is hot, then Denver is on fire.

Steam on the Platte a gem of a property
"Veteran Denver developer Susan Powers on Tuesday unveiled plans for a $50 million, mixed-use development on a 3.2-acre site on an all but forgotten gritty stretch along the Platte River near" Mile High Stadium.

Think about this people: Sun Valley !
The whole ring to the north and west of downtown is ripe for new building. It's run down but not ghetto and it's close. It's weird how fast things transition after leaving downtown.

The same with a lot of the area along the w line all the way to union st.
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Old 07-25-2015, 01:04 PM
 
Location: I roam around. Spend most my time in the West or the Northwoods.
130 posts, read 140,328 times
Reputation: 186
There will be a few things that will affect every city across the country.... interest rates rising, and the nationwide economy. True that all real estate trends are local, but nobody escapes those two things.

Then you have local factors. The housing in Denver has been on an absolute tear. Are the prices sustainable? You really have to look at the affordability index, which factors in wage/job growth in comparison to housing price appreciation. That analysis would suggest that Denver is a little overheated right now, but not as bad as places like Austin and Orange County. If I had a job in Denver and was looking for a place to live for 5 years, I would have no problem buying. If I was investing, I would be looking at other metros like Boston or Chicago. Those places are not cheap, but their affordability index is better.

I don't think there is a bubble here. But I also don't think you can buy a home today expecting 10% annual increases going forward, either.
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Old 08-02-2015, 08:05 AM
 
Location: The Berk in Denver, CO USA
14,054 posts, read 20,393,173 times
Reputation: 22845
Default Anecdotal datum

A friend of mine just bought a house and is renting it out.
1. Near Anschutz in Aurora.
2. $100K - so, you know it is a dump
3. $1200/mo

You do the math.
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Old 08-03-2015, 08:52 AM
 
Location: Denver CO
21,210 posts, read 11,826,310 times
Reputation: 32223
Quote:
Originally Posted by davebarnes View Post
A friend of mine just bought a house and is renting it out.
1. Near Anschutz in Aurora.
2. $100K - so, you know it is a dump
3. $1200/mo

You do the math.
I think I'd call that an anecdotal dayum instead! Wow, makes me want to scrape together some money and buy a crappy house in Aurora.
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Old 08-03-2015, 10:12 AM
 
Location: denver, co
101 posts, read 131,436 times
Reputation: 183
Quote:
Originally Posted by davebarnes View Post
A friend of mine just bought a house and is renting it out.
1. Near Anschutz in Aurora.
2. $100K - so, you know it is a dump
3. $1200/mo

You do the math.
if i was interested in investing in RE, that's an area i'd strongly consider. new light rail showing up soon, lots of development coming with the new hyatt they're building there, and an endless supply of renters who would work at the medical center and need a place nearby to stay, either short- or long-term.

the area south of colfax is pretty quiet - very diverse, but i don't get a sketchy vibe from it, at least the way i do from some other areas around denver.

things could really change there in the next 5-10 years with stapleton getting more and more expensive.

ymmv.
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