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Old 03-02-2015, 07:14 AM
 
Location: Denver, cap hill
71 posts, read 69,194 times
Reputation: 45

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Its all about perspective, friend. Denver's climate IS one of the reasons my family and I are moving to Denver. Coming from a climate which could best be described as icy tundra, my family and I are really looking forward to a more moderated winter. As for Atlanta you couldn't pay me to live there as the summers are too humid.
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Old 03-02-2015, 07:26 AM
 
242 posts, read 285,913 times
Reputation: 531
Real Estate has always been a roller coaster in CO. When we moved to the mountains in '84 about 1/2 of the properties were bank-owned...a result of overbuilding "spec" condos and sight-unseen purchases of ski homes by the Texans just before the oil/gas market tanked in the late 70's. There was a HUGE glut of properties available and you could basically pick/choose and call your shots.

Prices started to rise in the late 80's and climbed steadily here until the crash in 2008-9. Even so, and even with the loss in value since 2008, (which is on the rise now) our home is still worth 3X what we built it for in 1990...and then some.

For us, building a house WAS an investment....an investment we studied and planned carefully.... one we entered cautiously...and one that is about to pay off as we liquidate 2 homes and start over in downsize mode 25 year later.
Quite the change from the days when we were building it and spent EVERY dime we had to make it happen.
Buy/build wisely and stay focused in the long term. Nothing that happens quickly can be counted upon but if you are persistent things will eventually change....especially in CO.
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Old 03-02-2015, 10:12 AM
 
384 posts, read 407,119 times
Reputation: 685
Lot of opinion pretending to be fact from the OP.

First, there is no such thing as an "ideal" temperature. "Ideal" for whom. If you find a place where the temp is "perfect" every day, I'm leaving - that's boring

Ideal to me is variety and I like winter. I LOVE being able to go out and do winter stuff in the winter and summer stuff in the summer.

And I suggest listening to the housing shows out of different locales. Heard one a couple months back from the Springs, and they were complaining about time on market - houses won't sell, etc.

Yes, the Denver market is heated up and there isn't enough entry level inventory - that's true! But, when I hear people say "prices are much more reasonable" in XXXXX location, I usually think - yes, because not enough people want to live there - and those that do can't afford higher prices.

A better measure is value of the home relative to pay, available jobs, etc. Denver's getting a little out of whack there (again, lack of entry level), but clearly there are a LOT of people able to pay big prices for homes in Denver - that's what is raising the prices - people are willing to pay them.

Mostly I agree with others, the OP missed out on the real estate boom in Denver and is now trying to convince himself/us that they made a good decision.
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Old 03-03-2015, 07:46 AM
 
Location: The Berk in Denver, CO USA
13,947 posts, read 20,196,196 times
Reputation: 22564
Mygatt: Don't wait to buy a Denver home

"Chris Mygatt has a tip for you if you are considering buying a home this year — do it quickly. “This market is moving up,” Mygatt, president and chief operating officer of Coldwell Banker Residential Brokerage in Colorado, told about 500 people on Monday.
“You want to ride that wave,” Mygatt said at the Colorado Real Estate & Economic Summit. Coldwell Banker, along with the Denver Business Journal and Coldwell Banker Previews, sponsored."
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Old 03-03-2015, 08:23 AM
 
Location: Denver CO
20,975 posts, read 11,624,951 times
Reputation: 31812
I will say that it's not a complete runaway market. I've been watching listings in my old Lowry neighborhood as well as in Stapleton. There is an FSBO in my old complex that went on the market WAY overpriced and it's been sitting since Sept. Now granted, it's FSBO so it's not being marketed and agents aren't going out of their way to show it. However even so, everything else in the complex has sold very quickly and there are definitely people who are very interested in that specific location. But not at a totally crazy price.

And I've seen a few prices cuts in Stapleton, too. So it is possible to be too aggressive in pricing even in a popular area. Well priced listings are moving briskly, though.
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Old 03-03-2015, 09:49 AM
 
Location: Denver, Colorado U.S.A.
14,174 posts, read 23,215,035 times
Reputation: 10428
Quote:
Originally Posted by emm74 View Post
I will say that it's not a complete runaway market. I've been watching listings in my old Lowry neighborhood as well as in Stapleton. There is an FSBO in my old complex that went on the market WAY overpriced and it's been sitting since Sept. Now granted, it's FSBO so it's not being marketed and agents aren't going out of their way to show it. However even so, everything else in the complex has sold very quickly and there are definitely people who are very interested in that specific location. But not at a totally crazy price.

And I've seen a few prices cuts in Stapleton, too. So it is possible to be too aggressive in pricing even in a popular area. Well priced listings are moving briskly, though.
Yeah, I don't see prices in Stapleton going too crazy. Although there is basically nothing near our house for sale right now. One neighbor sold her house in December and it sold within a week, so I have a feeling that prices will go up this spring when people typically make moves. But then we're always competing with whatever the builders are selling for within Stapleton. Once it's "built out", I think we'll see prices rise more.
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Old 03-03-2015, 10:00 AM
 
Location: Washington Park, Denver
6,904 posts, read 6,496,831 times
Reputation: 7353
Quote:
Originally Posted by emm74 View Post
I will say that it's not a complete runaway market. I've been watching listings in my old Lowry neighborhood as well as in Stapleton. There is an FSBO in my old complex that went on the market WAY overpriced and it's been sitting since Sept. Now granted, it's FSBO so it's not being marketed and agents aren't going out of their way to show it. However even so, everything else in the complex has sold very quickly and there are definitely people who are very interested in that specific location. But not at a totally crazy price.

And I've seen a few prices cuts in Stapleton, too. So it is possible to be too aggressive in pricing even in a popular area. Well priced listings are moving briskly, though.
Agree. I don't think it's completely runaway anywhere. Houses that are priced at market are selling. Those above aren't.
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Old 03-03-2015, 10:19 AM
 
384 posts, read 407,119 times
Reputation: 685
Same thing on the west side. We've seen houses sold in hours and those that sat on the market for months. The ones the sell fast are properly maintained and priced correctly. The one we saw sit for a long time was 25k (at least) overpriced and had weeds in the yard. I mean, c'mon man, if you are trying to sell something - gotta at least pretty it up a little. That's the minimum.
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Old 03-03-2015, 11:12 AM
 
451 posts, read 381,373 times
Reputation: 838
I agree with step33. If the yard looks like shambles when I drive by, I don't even want to waste my time looking at the inside. Curb appeal means a lot and says a lot about the owner. If I have to start with the yard to avoid looking like "that" new neighbor, I can only imagine the work we will have to do on the inside just to get it clean enough to answer the door for the pizza delivery guy!
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Old 03-03-2015, 12:45 PM
 
5,444 posts, read 4,813,077 times
Reputation: 15020
Quote:
Originally Posted by davebarnes View Post
Mygatt: Don't wait to buy a Denver home

"Chris Mygatt has a tip for you if you are considering buying a home this year — do it quickly. “This market is moving up,” Mygatt, president and chief operating officer of Coldwell Banker Residential Brokerage in Colorado, told about 500 people on Monday.
“You want to ride that wave,” Mygatt said at the Colorado Real Estate & Economic Summit. Coldwell Banker, along with the Denver Business Journal and Coldwell Banker Previews, sponsored."
I take these types of statements with a grain of salt. Of course a real estate broker is going to tell you the market is moving up and you should buy now. This does nothing but drive up their own business. This is no different than a banker saying that today is the best day to invest, oh, and come do it in my bank, or a car salesman saying today is the best day to buy a new car.
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