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Old 03-27-2015, 02:23 PM
 
Location: Denver CO
21,001 posts, read 11,633,974 times
Reputation: 31847

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Quote:
Originally Posted by Lafleur View Post
The bold is where I stopped reading. Where in the hell are you getting this? I've stated multiple times in this thread that I don't think I deserve anything. I've stated multiple times that I'm not looking to live in a luxurious place. I've stated multiple times that I'm not even necessarily looking to live IN Denver, let alone downtown or close to it. So again, where are you getting this idea that I think I deserve to live in a new downtown apartment?

I'm not going to waste any more time defending myself over false accusations or simply poor reading comprehension.
So then what exactly is wrong with the things that are in your price range? The demand is high and they sell quickly but there are still plenty of sub200K listings out there.

79 of them right now within Denver county.

Listing Search Form - Search for Real Estate Properties
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Old 03-27-2015, 02:25 PM
 
Location: Denver, CO
2,391 posts, read 1,797,592 times
Reputation: 1920
Quote:
Originally Posted by Pesare View Post
On average though I think in other neighborhoods that are less popular rents will stay stagnant.
I can't help but agree. At least where I live (SE Denver in the boonies essentially), I can't understand how they will be able to continue to keep rents at where they are or raise them. With all the new units available, which offer so much more in terms of amenities alone and at only a couple hundred dollars more a month, it'd be surprising if they were able to maintain the pricing scheme they have now. Like I said earlier, I'd pay an extra $100 or $200 to live closer to the city core and have tons of amenities like at my GF's place in Baker.
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Old 03-27-2015, 03:05 PM
 
Location: Denver, CO
2,391 posts, read 1,797,592 times
Reputation: 1920
Quote:
Originally Posted by emm74 View Post
So then what exactly is wrong with the things that are in your price range? The demand is high and they sell quickly but there are still plenty of sub200K listings out there.

79 of them right now within Denver county.

Listing Search Form - Search for Real Estate Properties
I'll have to look at them. I just spoke with a broker today, and he said I'm looking at about a $1100-$1300/mo mortgage payment on any condo or town home in that range ($150k-$170k) with what I can currently put down (about $15k by end of July).

The sad part is that I'm probably going to have to wait so I can save more of a down payment, making me lose out on the lower interest rates that are in place today. Just to get 20% down for anything decent ($200k-$250k) around here, I'm probably going to need another $25-$30k in savings, which will probably take me another 4-5 years. The 2nd job option, as appealing as it is, isn't really an option because I travel for work sometimes.
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Old 03-27-2015, 03:22 PM
 
2,409 posts, read 2,628,232 times
Reputation: 1807
Quote:
Originally Posted by Lafleur View Post
I'll have to look at them. I just spoke with a broker today, and he said I'm looking at about a $1100-$1300/mo mortgage payment on any condo or town home in that range ($150k-$170k) with what I can currently put down (about $15k by end of July).

The sad part is that I'm probably going to have to wait so I can save more of a down payment, making me lose out on the lower interest rates that are in place today. Just to get 20% down for anything decent ($200k-$250k) around here, I'm probably going to need another $25-$30k in savings, which will probably take me another 4-5 years. The 2nd job option, as appealing as it is, isn't really an option because I travel for work sometimes.
There are at least 3 ways to deal with this issue. I can give them to you, but I'll be venturing off the main topic. Head over to the mortgage forum for advice and information.
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Old 03-27-2015, 03:24 PM
 
Location: The Berk in Denver, CO USA
13,949 posts, read 20,201,871 times
Reputation: 22575
Why the Most*Popular Cities Are Out of Reach for Young Professionals - Bloomberg Business

Why the Most Popular Cities Are Out of Reach for Young Professionals A dearth of construction means making a home in your new city will be tough

Denver does not make the cut.
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Old 03-27-2015, 03:29 PM
 
Location: Denver, CO
2,391 posts, read 1,797,592 times
Reputation: 1920
Quote:
Originally Posted by davebarnes View Post
Why the Most*Popular Cities Are Out of Reach for Young Professionals - Bloomberg Business

Why the Most Popular Cities Are Out of Reach for Young Professionals A dearth of construction means making a home in your new city will be tough

Denver does not make the cut.
It doesn't even reference Denver. I wonder if that means it's not on their radar, or if the same principles do not apply to it as they do in the cities that are listed. Denver always seems to be left off these national lists for whatever reason.
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Old 03-27-2015, 04:31 PM
 
Location: Mount Juliet, TN
166 posts, read 132,791 times
Reputation: 316
Quote:
Originally Posted by davebarnes View Post
Why the Most*Popular Cities Are Out of Reach for Young Professionals - Bloomberg Business

Why the Most Popular Cities Are Out of Reach for Young Professionals A dearth of construction means making a home in your new city will be tough

Denver does not make the cut.
Interesting... living here I have never heard that Houston is out of reach for young professionals. Maybe downtown apartments/condos... but with so much area to choose from I just don't buy that.
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Old 03-27-2015, 11:52 PM
 
Location: Denver, CO
5,608 posts, read 20,672,246 times
Reputation: 5338
Quote:
Originally Posted by Lafleur View Post
I can't help but agree. At least where I live (SE Denver in the boonies essentially), I can't understand how they will be able to continue to keep rents at where they are or raise them. With all the new units available, which offer so much more in terms of amenities alone and at only a couple hundred dollars more a month, it'd be surprising if they were able to maintain the pricing scheme they have now. Like I said earlier, I'd pay an extra $100 or $200 to live closer to the city core and have tons of amenities like at my GF's place in Baker.
What is your beef with southeast Denver? I've seen this on a number of your posts. I'm around your same age and I've lived in this part of town for the last 4.5 years. There is definitely a wide range of apartment complexes in the area ranging from some of the cheapest places in Denver where I probably wouldn't want to live to some really nice and new places. Contrary to what you may think, this is NOT the boonies. Not even close. SE Denver is really close to DTC, which is the #1 white collar employment center in the state, even more than downtown Denver. It's also not far at all from Cherry Creek, and not that far from downtown either. Numerous light rail stations between 9 mile, Dayton, Southmoor, Yale, Colorado, etc. There is a network of bike trails and parks that criss-cross this part of town. There is more to life than drinking at the bars on South Broadway and East Colfax, which is where Denver seems to start and end in the imaginary geography of the urban hipsters. I also think the people that live in SE Denver-- and Aurora are more "real" and down to earth than the self proclaimed "trendy" people who live in the "urban" areas of Denver. It's probably the most diverse part of Denver with people from all walks of life, all different income levels, ages, ethnicities. Where I live is a solid middle class area with a lot of older residents who have been here for 30+ years, but slowly changing as younger people move in. Within a 1/2 mile radius there are both million+ dollar homes in a country club and section 8 apartment complexes with cabs filling the parking lots. Yet somehow everybody seems to get along; it's a pretty quiet and safe area for the most part.

I recently bought a place, before then I rented an apartment in the area for 4 years where the rent was under $800/mo, even at the last increase in late 2014. The place was out of date, for sure, but it was not that bad all in all. Blows away the ****hole apartment I lived in LA for $1200/mo back in 2008. I don't feel sorry for myself for having lived there, saving money, enjoying life, and I would do it again if I had to live in an apartment. I looked around all over town but at the end of the day, chose to stay in SE Denver, having a close commute (<3mi) to work, relatively affordable (compared to the rest of Denver), quiet and peaceful location.
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Old 03-28-2015, 12:23 AM
 
Location: Denver, CO
2,391 posts, read 1,797,592 times
Reputation: 1920
Quote:
Originally Posted by vegaspilgrim View Post
What is your beef with southeast Denver? I've seen this on a number of your posts. I'm around your same age and I've lived in this part of town for the last 4.5 years. There is definitely a wide range of apartment complexes in the area ranging from some of the cheapest places in Denver where I probably wouldn't want to live to some really nice and new places. Contrary to what you may think, this is NOT the boonies. Not even close. SE Denver is really close to DTC, which is the #1 white collar employment center in the state, even more than downtown Denver. It's also not far at all from Cherry Creek, and not that far from downtown either. Numerous light rail stations between 9 mile, Dayton, Southmoor, Yale, Colorado, etc. There is a network of bike trails and parks that criss-cross this part of town. There is more to life than drinking at the bars on South Broadway and East Colfax, which is where Denver seems to start and end in the imaginary geography of the urban hipsters. I also think the people that live in SE Denver-- and Aurora are more "real" and down to earth than the self proclaimed "trendy" people who live in the "urban" areas of Denver. It's probably the most diverse part of Denver with people from all walks of life, all different income levels, ages, ethnicities. Where I live is a solid middle class area with a lot of older residents who have been here for 30+ years, but slowly changing as younger people move in. Within a 1/2 mile radius there are both million+ dollar homes in a country club and section 8 apartment complexes with cabs filling the parking lots. Yet somehow everybody seems to get along; it's a pretty quiet and safe area for the most part.

I recently bought a place, before then I rented an apartment in the area for 4 years where the rent was under $800/mo, even at the last increase in late 2014. The place was out of date, for sure, but it was not that bad all in all. Blows away the ****hole apartment I lived in LA for $1200/mo back in 2008. I don't feel sorry for myself for having lived there, saving money, enjoying life, and I would do it again if I had to live in an apartment. I looked around all over town but at the end of the day, chose to stay in SE Denver, having a close commute (<3mi) to work, relatively affordable (compared to the rest of Denver), quiet and peaceful location.
DM me, buddy. You can come see where I live and decide for yourself. I live in a ****hole community at best. There are some nice places in the area, of course. If you go down Dartmouth just east of Havana, there are some nicer places over there for sure. But my complex is crap, plain and simple. If you need me to explain why for the 1000th time (it feels like), I will. Dirty ass pool only open in the summer. Broken down laundry room on-site that I have to walk to (60% of washing/drying units are out of order at a given time). Broken down tennis court that his been out of operation for more than a decade probably. A security gate that hasn't worked in at least the year and a half that I've been living here. Zero amenities in a run down community that was built in the 1970s and yet they're charging just a couple hundred dollars less than for the brand new places closer to the city core with tons of amenities. Yeah, that makes plenty of financial sense.

Shall I continue? There is a Wal-Mart across the street from me on Hampden. BFD! Otherwise, there is nothing at all around here. Period. A light rail station is not really even walking distance unless you really want to go on a limb with Dayton Station. But hey, we have Kennedy Golf Course, which I will never in my entire life use. And the Cherry Creek Reservoir, which is nice for biking and running I'll give you that much. But most people that live around here are recent immigrants and older families and poor families. If you're in my demographic, you must not be much into dating then. Because there is absolutely nobody my age with a college education to meet down here with common interests and basically nothing to do around here for fun. Oh, my bad. There's a laser tag place in that complex near Denver Liquor Galaxy! Most of my friends make wisecracks that I live so far away.

If you're in your 20s or 30s, you're far better off living closer to the city center, where there will likely be an abundance of people your age and plenty of things you can do at a given time (not to mention, walk or bike to). This is not so much an option in SE Denver, especially near the community I live in.

Last edited by Lafleur; 03-28-2015 at 12:33 AM..
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Old 03-28-2015, 03:03 AM
 
170 posts, read 181,959 times
Reputation: 107
Here is an article discussing how there is a housing shortage based on the number of people moving here which is driving up costs.
Report: Metro Denver builders not keeping pace with new residents, costs will continue to rise - The Denver Post
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