Anyone Else Sitting Out the Denver Real Estate Market? (Littleton: sale, 2013)

[philberf]

Originally Posted by Mach50

pretty clean very suburban conservative area

I wouldn't call any part of Littleton "dumpy" it is just very bland

I would second that. Also, watch out for some of the expansion (bentonite?) soils or whatever it's called. We have a friend who lives out in Ken Caryl and they've had to deal with that stuff a decent amount after buying out there a couple years ago.

[DenverBound41]

Originally Posted by SkyDog77

The question is no t whether or not the current trajectory is sustainable. Nobody in their right mind is saying that. It's whether or not we are setting a new normal baseline or whether there is a bubble that is going to burst. It's important that people understand the difference in these conversations.

Isn't that more or less what my post was addressing? Anyway, as for new normal baseline vs bubble, I think the answer is a little of both. IMO, the days of cheap housing in or near the city are gone for quite some time (in Denver and most other desirable cities), but some of the prices are getting a bit out of hand.

I show my wife listings all the time and have her guess the list price. I wouldn't want to be the buyer of some of the homes I've seen listed in the $500k-$1M range, even in a "good" location. Like I said earlier, we aren't in for a Phoenix or Vegas-esque drop, but I think some downside is certainly possible.

[ironlady]

Originally Posted by rtloucks

S Holland Street, Littleton CO, 80128

Can anyone give insight to this area. It is in the Chatfield High school zone, over off Ken Caryl Ave and S Kipling Parkway

We found a couple of homes there, but dont know a whole lot and could really use a non-realtor opinion of the area and please be open and blunt! I can handle it.

Feel free to Private message me if you are worried about offending others. I just need a truthful opinion if its a dumpy area or nice.

RT, yes, nice area. Schools are great and you're right at the foot of the hogbacks. There are a few, few homes in that neighborhood that might border on run-down (like old cars sitting out in the driveway, unkept yards), but for the most part, it's nice.

[mic111]

Originally Posted by GoldenZephyr

F
Denver has an infinite amount of flat build-able land around it. It is not San Francisco, it is not San Diego, it is not New York City. I live in Newport Beach, so Denver is quite cheap to what I'm used to, but I get angry when I see good people and families hurt by greed and smugness. My friends are considering leaving CO because they can sell their house and get coastal CA living in Orange County for a similar price, with the infinite amenities that it offers and its goldilocks weather.

However, many Denver realtors would like you to believe that "there runnin' outta' land in Denver". Except for the fact that there is a million square miles of flat land 180 degrees around Denver. San Francisco, that's running of out land. Denver, ummm not so much.

This is not quite the way to look at it. While there is land in every direction there is no water. Places like Castle Rock could not be built now. Douglas County is requiring that there be water for the homes to be built. Those that were built without it are facing very large water assessment fees in the future when the residents have to pay for pipelines, reservoirs and water rights. When Todd Creek was built in Brighton without access to good water those homes were going for almost half the value of homes with access to good water. People don't care to truck in their water. See a real value in the foothills? Check the well. Probably doesn't have much water which is why the price is so low.

Buying in an area like Denver that has the most senior water rights or some of the other older cities is very important when a drought rolls around. I remember when we were looking for homes in 2001-2002, there was a city that had the water turned off a couple of days a week on a rolling basis. People filled the bathtub and pitchers to flush the toilet. There are a huge amount of homes on the non-renewing aquifer south of Denver. It is being depleted at a much faster rate than anticipated.

Something to keep in mind for those looking to buy. Always check where your water comes from. Being on senior surface (renewable) water is one of the most important things.

[ayoitzrimz]

Originally Posted by mic111

This is not quite the way to look at it. While there is land in every direction there is no water. Places like Castle Rock could not be built now. Douglas County is requiring that there be water for the homes to be built. Those that were built without it are facing very large water assessment fees in the future when the residents have to pay for pipelines, reservoirs and water rights. When Todd Creek was built in Brighton without access to good water those homes were going for almost half the value of homes with access to good water. People don't care to truck in their water. See a real value in the foothills? Check the well. Probably doesn't have much water which is why the price is so low.

Buying in an area like Denver that has the most senior water rights or some of the other older cities is very important when a drought rolls around. I remember when we were looking for homes in 2001-2002, there was a city that had the water turned off a couple of days a week on a rolling basis. People filled the bathtub and pitchers to flush the toilet. There are a huge amount of homes on the non-renewing aquifer south of Denver. It is being depleted at a much faster rate than anticipated.

Something to keep in mind for those looking to buy. Always check where your water comes from. Being on senior surface (renewable) water is one of the most important things.

Ooooh where would one check such a thing? I live in Denver proper, but am curious to check...

[mic111]

Originally Posted by ayoitzrimz

Ooooh where would one check such a thing? I live in Denver proper, but am curious to check...

You probably pay your bills to Denver Water. Denver Water has the most senior water rights. They are surface rights. You are good.
Welcome to Denver Water

http://www.denverwater.org/SupplyPlanning/WaterSupply/

Many surrounding cities get their water from Denver Water also.

[ayoitzrimz]

Originally Posted by mic111

You probably pay your bills to Denver Water. Denver Water has the most senior water rights. They are surface rights. You are good.
Welcome to Denver Water

Water Supply

Many surrounding cities get their water from Denver Water also.

Can't rep you but thank you for the links!! Yes we do pay Denver Water

[downtownnola]

Is Denver's residential real estate market cooling off? - Denver Business Journal

An interesting perspective regarding the Denver real estate market... time will tell.

[brown_dog_us]

Originally Posted by davebarnes

Infinite amount? Yes.
Flat? - Yes.
Buildable? - No.

Water is the controlling factor.

After spending years building and developing in another state, this is what makes Denver different. There is plenty of land for sprawl, but the developers can't get water. Douglas County, S of Denver, tried drilling for water to fuel their growth, but that is now looking like a disaster.

[rumline]

Originally Posted by GoldenZephyr

My friends are considering leaving CO because they can sell their house and get coastal CA living in Orange County for a similar price, with the infinite amenities that it offers and its goldilocks weather.

Your friends must have $$$ houses then. Most people on this forum are not looking at $600k+ houses; more like $350-450k. At the upper end of that range, you can get a run-down 1960's 1500 sq ft house in a "meh" neighborhood that's nowhere near the beach. At least you're free from the brutal Denver winters, I guess.