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Old 11-16-2015, 12:03 PM
 
20,907 posts, read 39,189,628 times
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Quote:
Originally Posted by guyatwork37 View Post
I dont know qhat your degree is in, but Charlotte is a big financial hub with really nice homes for really cheap if that's what you're looking for.
Charlotte is also an easy ~2hour drive to both mountains AND ocean.
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Old 11-26-2015, 01:30 PM
 
2,519 posts, read 3,508,733 times
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Default Denver voted best place to own a home

https://porch.com/denver-co/best-place-to-own-a-home

Apparently we are very happy as a group.
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Old 11-30-2015, 09:48 PM
 
214 posts, read 193,538 times
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Quote:
Originally Posted by Mike from back east View Post
Probably very true. I also think prices have gotten to the point where some are priced out, plus it's late September when sales tend to cool off.
People certainly are priced out. The median home price in Denver is $328,100 and the median household income in Denver is $62,760.

For comparison sake, the median home price in the US is $188,900 and the median household income in the US is $51,939.

The only people buying houses in the Denver area are middle aged people with cash and younger couples that are house poor.
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Old 12-01-2015, 07:38 AM
 
Location: Just south of Denver since 1989
10,913 posts, read 29,404,684 times
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Median house price does not directly relate to a median income.

Sometimes, houses are bought by more than one person. Pooling their income means they can afford to buy more house. Or they pool their ability to qualify, and buy a house that one can afford.

Sometimes, houses are bought by single/partnership investors. They are not using their primary source of income for investment housing.

Sometimes, people sell a house in another location and pay cash or put a large portion down.

Sometimes, parents buy a house for a child to go to college.

Sometimes, someone will win the lottery and buy a house a year.

Sometimes, people inherit money and buy a house.

Nice folks are buying houses in the $200,000 price range. Nice folks are also buying multi million dollar houses, and everything in between.

It's better to focus on your wants and needs. Not tell everyone the sky is falling.
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Old 12-01-2015, 08:53 AM
 
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There has been talk in other posts saying right around Thanksgiving is the best time frame to buy in Denver. Conversely, when do you think is the best month to sell?
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Old 12-01-2015, 02:19 PM
 
Location: Highlands Ranch, CO
556 posts, read 578,387 times
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Quote:
Originally Posted by DRG1 View Post
There has been talk in other posts saying right around Thanksgiving is the best time frame to buy in Denver. Conversely, when do you think is the best month to sell?
Based on what I saw this last year it would be sometimes between May and July. It was bonkers then.

Right now there isn't much on the market which is a bummer for me
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Old 12-01-2015, 02:48 PM
 
5,090 posts, read 13,548,911 times
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Quote:
Originally Posted by 2bindenver View Post
Median house price does not directly relate to a median income.

Sometimes, houses are bought by more than one person. Pooling their income means they can afford to buy more house. Or they pool their ability to qualify, and buy a house that one can afford.

Sometimes, houses are bought by single/partnership investors. They are not using their primary source of income for investment housing.

Sometimes, people sell a house in another location and pay cash or put a large portion down.

Sometimes, parents buy a house for a child to go to college.

Sometimes, someone will win the lottery and buy a house a year.

Sometimes, people inherit money and buy a house.

Nice folks are buying houses in the $200,000 price range. Nice folks are also buying multi million dollar houses, and everything in between.

It's better to focus on your wants and needs. Not tell everyone the sky is falling.
...and many times frugal folks have learned to live with much less; require less; buy less and most importantly learned to save more to buy the house of their dreams. I grew up with immigrants who made little but were able to save for that important down payment for a mortgage. They then bought a house and did not immediately fill it with expensive furniture, widow coverings and other costly conspicuous consumption.


I have no sympathy for those of today who want everything at once and never learned to live with less. They eat out often; consume media; buy more than necessary; incur huge credit debt and they whine when their piggish life is blown down by the wolf of reality.

Learn to reduce your need wants and desires as many have done and are doing that are wise.

Livecontent
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Old 12-01-2015, 03:00 PM
 
930 posts, read 537,945 times
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Quote:
Originally Posted by Dirty-Mill View Post
The only people buying houses in the Denver area are middle aged people with cash and younger couples that are house poor.
I'm 30. I bought a 2BR/2BA condo (first time buyer) this past summer for around $180k in a pretty decent up-and-coming East Denver neighborhood with lots of retail and not far from Lowry/Stapleton/Glendale. My monthly payment is $1154/mo, which includes HOA (water, trash, outside maintenance/insurance). The average rent in Denver for a 1BR/1BA apartment is higher than that. I also rent out the 2nd bedroom, so that's significantly reducing my overhead at the moment.
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Old 12-01-2015, 03:51 PM
 
Location: Highlands Ranch, CO
556 posts, read 578,387 times
Reputation: 837
Quote:
Originally Posted by Mr. Analyst View Post
I'm 30. I bought a 2BR/2BA condo (first time buyer) this past summer for around $180k in a pretty decent up-and-coming East Denver neighborhood with lots of retail and not far from Lowry/Stapleton/Glendale. My monthly payment is $1154/mo, which includes HOA (water, trash, outside maintenance/insurance). The average rent in Denver for a 1BR/1BA apartment is higher than that. I also rent out the 2nd bedroom, so that's significantly reducing my overhead at the moment.

Yeah, my wife and are 32 with two kids and are looking to buy within the next month or two. We're approved for $550k, but I really don't want to spend more the $375k. Looking in mostly southern suburbs. Estimated mortgage will be around $1,600 with HOA after down payment. Rent seems to be in the $2000 range in these areas, so it works out well.

Point is, some of us younger folk are in the market as well that won't be house poor, but are taking advantage of some good luck (hot housing market in LA and ability to take my job with me). My situation is different than most, but it's completely doable. You can't generalize everyone because there are so many unique situation and circumstances.
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Old 12-01-2015, 04:48 PM
 
Location: Arvada, CO
13,238 posts, read 24,428,775 times
Reputation: 13010
Quote:
Originally Posted by guyatwork37 View Post
Yeah, my wife and are 32 with two kids and are looking to buy within the next month or two. We're approved for $550k, but I really don't want to spend more the $375k. Looking in mostly southern suburbs. Estimated mortgage will be around $1,600 with HOA after down payment. Rent seems to be in the $2000 range in these areas, so it works out well.
Yeah boy, bringing that LA equity with you! That's what I'm talking about!

FWIW, my mortgage (w tax/ins) is about that (sans HOA), and my sale price was $262K. I'm also 32, married, but with 3 kids and live 15 min NW of downtown, none of which is pertinent to the conversation.

I could probably rent my house for $2K as well (though Zillow thinks it would be $2.2K ).

Good luck!
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