Anyone Else Sitting Out the Denver Real Estate Market? (Littleton: house, neighborhood)

[DenverBound41]

Originally Posted by GoldenZephyr

I think you're missing the point. Denver has about 3 weeks of inventory on the market and can muster around 6-10% gains.

San Francisco, Los Angeles, New York can muster better gains with FAR more inventory.

Denver inventory will only rise from these unprecedented low levels. How do you think you'll maintain gains when the market has become addicted to 1 month or less inventory?

If interest rates rise, how do you think that will affect the market? You think the dual increase of rates and prices will hold? Doubling the rate of increase of monthly payments?

He's a realtor, of course he wants to believe prices are just going to keep going up, up, up. Most of us realize the current trajectory is unsustainable and prices are going to level off. IMO this is starting to happen now, I don't foresee a collapse but I could see a couple of years of very minimal or no appreciation.

Clearly you think Denver sucks but a lot of people enjoy it here and while it could be argued houses are overpriced (I'm in this category), we aren't headed for a Phoenix or Vegas-style tumble.

[SkyDog77]

Originally Posted by DenverBound41

He's a realtor, of course he wants to believe prices are just going to keep going up, up, up. Most of us realize the current trajectory is unsustainable and prices are going to level off. IMO this is starting to happen now, I don't foresee a collapse but I could see a couple of years of very minimal or no appreciation.

Clearly you think Denver sucks but a lot of people enjoy it here and while it could be argued houses are overpriced (I'm in this category), we aren't headed for a Phoenix or Vegas-style tumble.

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.

[ironlady]

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.

I think you nailed it here, SkyDog. This is the essence of the problem. Nobody knows for sure which way this will go. And it's making me crazy trying to figure out what to do.

[SkyDog77]

Originally Posted by ironlady

I think you nailed it here, SkyDog. This is the essence of the problem. Nobody knows for sure which way this will go. And it's making me crazy trying to figure out what to do.

Yes. I go back to this: http://www.city-data.com/forum/40303389-post29.html

[GoldenZephyr]

For the record, I actually like Denver quite a bit, I really liked it 5 years ago when I thought it was one of the best values in America. I like many things about the place. I just am sad to see some Coloradans get so smug in regards to real estate.

Coloradans used to be more practical, now they just think that double digit gains are the "new normal"

Smuggery is usually a signal that a market is headed to or already in bubble territory.

Asking buyers to write love letters to the seller is another signal.

High prices at rock bottom interest rates indicate a high risk prices will stagnate or decline when rates rise.

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.

Denver is a great place to live, but at these valuations, its a bit too smug for its own good and it's hurting good people.

[davebarnes]

Originally Posted by GoldenZephyr

Denver has an infinite amount of flat build-able land around it.

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

Water is the controlling factor.

[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.

[ayoitzrimz]

Originally Posted by smihaila

Statement #4 can be fully true only in the absence of a HOA. With a HOA you are doomed :-(

It is a valid point. There are stricter HOAs and some that are more hands off in the affairs of homeowners. It is up to the potential buyer to educate him/herself in the type of HOA the buyer could be dealing with.

I chose to avoid HOAs altogether and buy a SFH in a regular neighborhood (Park Hill) because I didn't want to deal with these issues exactly. Not saying all of them are bad, and they certainly have their benefits, but for me it was the best decision at the time.

Edit: I realize another issue with this crazy market is that as a buyer you don't actually have the time to do the research and make an educated decision. It is IMO a valid reason to sit out the market, and is an unfortunate reality of a sellers' market

[Mach50]

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.

pretty clean very suburban conservative area

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

[ayoitzrimz]

I find it funny when people who live in the most smug state of all have an issue with other states' "smugness".... as if only CA can be the best place to live, as long as you don't need water of course.