Denver Real Estate Discussion / Opinion Thread (NO Data Charts) (Aurora: student loans, community college)

[emm74]

Originally Posted by headingtoDenver

There was a house on our street that went up for sale and within a few days , the house was under contract. When I initially looked at the house, I thought the price they were asking was too high (315,000). Now, I don't know the agreed upon price and won't know until they close, but I was shocked it went under contract so fast.

http://www.realtor.com/realestateand...9_M25115-28033

You can see the previous sale was June 2013 for 258,000. Over 50K in equity is just 2 1/2 years is crazy.

I have about 50K in equity in my new construction house that I closed on 11 months ago. I'm basing that on what my neighbor's house down the street sold for recently.

[2bindenver]

Originally Posted by headingtoDenver

http://www.realtor.com/realestateand...9_M25115-28033

You can see the previous sale was June 2013 for 258,000. Over 50K in equity is just 2 1/2 years is crazy.

$258,500 with $2,753 in paid seller concessions on 6/19/2013.

Listed on 9/25/2015, under contract on 10/4/2015.

[SkyDog77]

Originally Posted by robertgoodman

Gonna have to disagree with you there

Good value, nice homes, but by most definitions it's not walkable. There's a few houses in that area that are somewhat walkable but they are closer to Huron. The way those neighborhoods are designed it may be close as the crow flies but not as the roads, paths, etc are created, so if you get too far into the subdivision it's too long of a walk for most people.

Yeah I was going to post that as well. It's not remotely as walkable as where I live.

My current location: https://www.walkscore.com/score/600-...enver-co-80209

My previous location: https://www.walkscore.com/score/800-...enver-co-80209

[Timmyy]

Things are still moving fast in my neighborhood. Had a house around the corner that went up for sale just a month ago and was under contract in a week. It is sitting on a corner with a busy intersection during school hours. Same home as mine but was less because of its location. The value it sold for is still way above what it was just a couple of years ago.

[guyatwork37]

Anecdotally, I've noticed that the market has cooled a bit. In the early summer, homes would be listed and then contingent within a couple of days which prices anywhere from 10% to 15% above asking. Lately, I've noticed homes that sell are at, or just a few thousand over asking. Additionally, I see home that have price reductions, meaning they have been on the market long enough without interest to warrant a price drop. I don't know how this compare to a year or two ago, but I've noticed this in the last six months for sure.

[robertgoodman]

Originally Posted by mic111

But all that being said, most people right now don't walk anywhere. The US has a car driving culture and people will get in their car to go across the street.

People use their car to cross because of how the roads are designed and zoning. Where you live the design forces people to walk further through misaligned and winding roads, through busy parking lots, and usually through dangerous intersections to get anywhere of significance outside their subdivision. (EDIT: Example walk of why people are more likely to choose to drive to go to a place literally across the street in more suburban settings).

Where I live in Denver it has a high walk score (97) , and nobody drives to get across the street.

Originally Posted by mic111

However CO is one of the few places that emphasizes paths everywhere and the new in thing is being able to walk places. This area is unique in that you can get a place like this:
971 W 149th Ave, Broomfield, CO 80023 | Zillow
2.5 acres with horse land, beautiful home for $669K and yet walk across the street to movies, dinner, stores etc.

But you would point out their walk score is 19 and it is car dependent because they have to walk by a couple of houses on big lots to get to the movies, free concerts and dinner.

Lot size only matters to the extent that it makes you further from destinations. For example it's over half a mile to get to the movie theater "across the street" from that house

People research this and the further you are from places the less likely you are to walk to them. Willingness to walk starts to drop off after a quarter mile, and nosedives right after a half mile. Walkscore knows that and scores accordingly.

Originally Posted by mic111

Edit:
Take this home for example.
2473 Lake Isle Ln, Broomfield, CO 80023 | Zillow
Walk score is 29. Car dependent. But in reality you could walk to all the same places. Yes it is a longer walk but the quality of the walk is extraordinary high. Going from here to Orchard Town Center you would go around McKay lake. Pass by horses and donkeys (who often come over for a scritch on the head). Pass through a wooded area. Go along a wet land stream bed, travel under Huron make a left and you are there.

For the 2.5 acre home above the walk is down a country lane with llamas and horses.

For many people these are very nice walks. And for those in the area we easily cover these distances on a daily basis walking our dogs.

To that same movie theater it's a 2.1 mile walk at the shortest distance. If you go by McKay lake about a mile of it is along busy and fast 144th -not exactly high quality-, but if you divert to that Wetland stream bed it's over 2.5 miles.

The point is very few people are going to choose to walk that a few times a year, yet alone every time they make that type of trip because it's just too far.

Quality of the walk does matter to an extent, but what you are describing are trails largely designed for leisure (jogging, walking the dog,etc,) with pedestrian connectivity to destinations as an afterthought.

[davebarnes]

Originally Posted by robertgoodman

Where I live in Denver it has a high walk score (97)

Wow!
Mine is 90 and I think we close to everything.
You must live above a King Soopers.

[SkyDog77]

Originally Posted by davebarnes

Wow!
Mine is 90 and I think we close to everything.
You must live above a King Soopers.

When is walk score going to incorporate marijuana dispensaries? Since it's a proven fact that the only reason people are moving to Colorado is for legal weed, this would seem to be vital information.

[Timmyy]

Originally Posted by SkyDog77

When is walk score going to incorporate marijuana dispensaries? Since it's a proven fact that the only reason people are moving to Colorado is for legal weed, this would seem to be vital information.

Ha! I love hearing the people say that is the main reason for people moving here. I have yet to meet one person that has moved here for marijuana.

[DougStark]

Originally Posted by denverian

"Gays" do wonders for the housing market. We keep our houses up, have nice lawns, and bring up the property value of the neighborhood.

As for the "potheads", I won't get into generalizing.

These statements are kind of amusing, but they're only somewhat true I believe. While gay clusters seem to improve an area's property values, their (gays) numbers are relatively small to the general population.