165 townhouses to be added in Stapleton priced at less than $200,000 each (Denver: sale, real estate)

[Hschlick84]

Originally Posted by jHolman91

I kind of understand it but it still baffles me. How can it not be as lucrative as building medium size to luxury homes?, I think they would sell like hot cakes and couldn't keep up with demand. Like I proposed, the homes could be on smaller plots which would keep price down. But this would probably only work on the outer towns. But then again I am still young and dont understand business in this industry ormuch about life in general. I still dont see how this wouldnt be a success and be a cash cow and if I was really rich I would spend a huge chunk of my own money for this.

Just curious if you read the whole thing and if it sounded like a good idea and would it work?

Factors that make housing costs highs:

High cost of construction labor
High density
Obstructive zoning laws
Building permit fees
People migrating from higher COL states such as California and northeast
Not increasing housing/apartment supply
Greedy home developers

What could be done to lower cost of living in Denver metro:

Quit attracting businesses and companies to relocate here
Stop promoting hyper population growth (mixed used development)
Refrain from using eminent domain
Build a supply of homes until it oversaturates the market then demand becomes super low
Find lower costs of construction
Lower costs of building permits
Deregulate housing market, low density, suburban sprawl
Expand housing out east, cheaper cost of land

Denver building permit fees

https://www.denvergov.org/content/de...ind-/fees.html

[Greentea323]

Originally Posted by jHolman91

Why haven't they made single family detached houses that are affordable?. I think people would buy them left and right even if they were based off the common post war style homes just modernized and sold on smaller plots of land, They might actually be more efficient than the bigger more expensive homes around the metro(they might even be more desirable if you would get tax reductions for being efficient due to not being needlessly large like most modern homes and would not need as much water because their on smaller lots) and it would be great for single folks that want a house instead of renting. They could be built ranging from very basic with 2 bedrooms/1 bath/no garage just attached carport to 4 bedroom/2 bath attached or detached garage. only problem is youd have to have some restrictions and a HOA to keep undersirables out of the neighborhood. Yeah ive thought about this and if id won that 1.5 billion powerball this is what I would have presented this as an idea to benefit other people.

One can still find new homes like this in other states that are affordable. There's also a couple in Colorado Springs. I'm guessing it doesn't make sense for builders to do it here with the current market conditions.

[Hschlick84]

Here some prices of land out in east Adams county, gives you an idea.

Adams County, Colorado Land for sale, Adams County, Colorado Acreage for Sale, Adams County, Colorado Lots for Sale at LandWatch.com

320 acres in Bennett, 5 miles east of DIA for $1.25 million. I wonder how many homes could be build out there.

http://www.landwatch.com/Adams-Count.../pid/289386412

[alloo66]

Originally Posted by Hschlick84

Factors that make housing costs highs:

High cost of construction labor
High density
Obstructive zoning laws
Building permit fees
People migrating from higher COL states such as California and northeast
Not increasing housing/apartment supply
Greedy home developers

What could be done to lower cost of living in Denver metro:

Quit attracting businesses and companies to relocate here
Stop promoting hyper population growth (mixed used development)
Refrain from using eminent domain
Build a supply of homes until it oversaturates the market then demand becomes super low
Find lower costs of construction
Lower costs of building permits
Deregulate housing market, low density, suburban sprawl
Expand housing out east, cheaper cost of land

Denver building permit fees

https://www.denvergov.org/content/de...ind-/fees.html

Why would you want to have obstructive zoning laws, higher bilding permit fees, and not increasing the supply of housing? I don't think CO should stop attracting businesses and companies to relocate here. Mixed use development is great, Just keep building mixed use places and go vertical instead of horizontal. Build baby build. Build more infrastructure like I70 east expansion. I don't want to live in a dying/stagnating city. I did that from 2008-2010. It sucked having no opportunities.

[2bindenver]

They are not only income rescricted, they are also deed restricted. Meaning, you cannot sell at market value. You will sell at the price the housing authority tells you to, and the new buyer will also have to income qualify.

In Boulder, if there is more than one qualified applicant, there is a lottery to choose the winning contract.

The only way to get rid of the deed restriction is to have the house go through foreclosure.

[BarryK123]

There goes the neighborhood...

[TCHP]

Originally Posted by jHolman91

Why haven't they made single family detached houses that are affordable?. I think people would buy them left and right even if they were based off the common post war style homes just modernized and sold on smaller plots of land, They might actually be more efficient than the bigger more expensive homes around the metro(they might even be more desirable if you would get tax reductions for being efficient due to not being needlessly large like most modern homes and would not need as much water because their on smaller lots) and it would be great for single folks that want a house instead of renting. They could be built ranging from very basic with 2 bedrooms/1 bath/no garage just attached carport to 4 bedroom/2 bath attached or detached garage. only problem is youd have to have some restrictions and a HOA to keep undersirables out of the neighborhood. Yeah ive thought about this and if id won that 1.5 billion powerball this is what I would have presented this as an idea to benefit other people.

Originally Posted by Greentea323

One can still find new homes like this in other states that are affordable. There's also a couple in Colorado Springs. I'm guessing it doesn't make sense for builders to do it here with the current market conditions.

I'd imagine there are still some areas in Denver like this (Aurora?) that have post WW2 building boom remnants that are smaller ranch style boxes with 3-4 bedrooms and 1-2 bathrooms. Yes, there are several neighborhoods in the Springs that fall into this category. The problem with these is that despite the price of these places, the relocating buyers, and we have all seen it on here, want them to be in newer construction, with excellent schools, lowest crime possible, with walkability to shopping and friendly neighborhood parks. All of those requirements aren't always met in the post war housing areas. At least in the Springs, most of these neighborhoods are now towards the city center, which due to the squeeze on the middle class, are in various levels of deterioration and have under performing or closing schools because of the population migration to the fringes of the metro where things are new.

[DFDNY444]

Originally Posted by 2bindenver

They are not only income rescricted, they are also deed restricted. Meaning, you cannot sell at market value. You will sell at the price the housing authority tells you to, and the new buyer will also have to income qualify.

In Boulder, if there is more than one qualified applicant, there is a lottery to choose the winning contract.

The only way to get rid of the deed restriction is to have the house go through foreclosure.

The homes have an appreciation cap of 3.5%. The 3.5% appreciation cap lasts for a period of 15 years following the home’s initial sale, after which the home may be sold at market value.

[wong21fr]

Originally Posted by Hschlick84

Factors that make housing costs highs:

High cost of construction labor
High density
Obstructive zoning laws
Building permit fees
People migrating from higher COL states such as California and northeast
Not increasing housing/apartment supply
Greedy home developers

What could be done to lower cost of living in Denver metro:

Quit attracting businesses and companies to relocate here
Stop promoting hyper population growth (mixed used development)
Refrain from using eminent domain
Build a supply of homes until it oversaturates the market then demand becomes super low
Find lower costs of construction
Lower costs of building permits
Deregulate housing market, low density, suburban sprawl
Expand housing out east, cheaper cost of land

Denver building permit fees

https://www.denvergov.org/content/de...ind-/fees.html

Some of these need to be inverted. High density should result in lower housing costs, putting three to four units on a lot will lower the per unit cost for homes and also lowers the cost of expanding infrastructure.

Low density suburban sprawl is only cheaper if the land is cheaper and some other sucker(usually existing taxpayers) is paying for the infrastructure- i.e. providing market distorting subsidies. If the homebuilder is also responsible for building infrastructure, which municipalities are increasingly requireing as the increase in property and sales tax is not covering the cost of expanding services and infrastructure, the affordability of new suburbs goes out the window.

[denverian]

Originally Posted by alloo66

Why would you want to have obstructive zoning laws, higher bilding permit fees, and not increasing the supply of housing? I don't think CO should stop attracting businesses and companies to relocate here. Mixed use development is great, Just keep building mixed use places and go vertical instead of horizontal. Build baby build. Build more infrastructure like I70 east expansion. I don't want to live in a dying/stagnating city. I did that from 2008-2010. It sucked having no opportunities.

Exactly! Housing prices are cheap where demand is low, meaning a less desirable city. If you want a cheap house, go to Wichita, Tulsa, OKC, etc. But then you have to live there