U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 01-28-2018, 05:53 PM
Status: "Celebrating 30 years as a Broker" (set 20 days ago)
 
Location: Just south of Denver since 1989
10,883 posts, read 29,313,834 times
Reputation: 7085

Advertisements

Your listing broker is not a member of the local realtor association.

 
Old 01-28-2018, 06:31 PM
 
246 posts, read 411,392 times
Reputation: 113
Quote:
Originally Posted by DenverBound41 View Post
It's a lovely home but I agree with the others, $125k markup in 10 months is pretty unrealistic.

As someone who is about to list a house that is about 2 years old and the base price for a new build of the same model is about $95k more than when I went under contract, I would love to think I would get dollar for dollar plus the extra $35-40k I've put in. The reality is that as long as the builder is still active in the community, I will be lucky to make $30-35k(after paying realtor). Most people will choose a new build and select their own finishes.

I do hope I'm wrong and you sell for full price.
Three things here. 1)There are a limited number of quality and affordable lots remaining. All of those available open space lots are all $100k+ which we will not even be competing with. 2) These homes require large down payments up front, usually take a double move to get into while they are built, require you to be approved by the builder, and take 12-18 months of interest rate uncertainty to deal with. 3) You are calculating off what we paid not including landscaping which is not cheap for a corner lot. Builder does not include that and all landscaping required to be finished within months of purchase per our HOA. Now take that and the fact our purchase price was based on when we signed contacts in 2016 and it does not seem so unrealistic.

Again we went with a pretty measurable per square foot calc here... nothing out of the ordinary for any homes for sale in my area. We have almost 3700 finished square feet

Last edited by jacoby23; 01-28-2018 at 06:39 PM.. Reason: Add
 
Old 01-28-2018, 06:32 PM
 
246 posts, read 411,392 times
Reputation: 113
Quote:
Originally Posted by 2bindenver View Post
Your listing broker is not a member of the local realtor association.
My last broker was and he was completely incompetent almost costing us our home.
 
Old 01-28-2018, 08:09 PM
 
245 posts, read 250,735 times
Reputation: 271
Quote:
Originally Posted by jacoby23 View Post
Three things here. 1)There are a limited number of quality and affordable lots remaining. All of those available open space lots are all $100k+ which we will not even be competing with. 2) These homes require large down payments up front, usually take a double move to get into while they are built, require you to be approved by the builder, and take 12-18 months of interest rate uncertainty to deal with. 3) You are calculating off what we paid not including landscaping which is not cheap for a corner lot. Builder does not include that and all landscaping required to be finished within months of purchase per our HOA. Now take that and the fact our purchase price was based on when we signed contacts in 2016 and it does not seem so unrealistic.

Again we went with a pretty measurable per square foot calc here... nothing out of the ordinary for any homes for sale in my area. We have almost 3700 finished square feet
Like I said, I hope you get the full price. I wouldn't give you a 22%+ premium on top of the new home premium that you paid less than a year ago, but people can be desperate and it only takes one person to bite. Best of luck, it is a beautiful home.

Last edited by DenverBound41; 01-28-2018 at 08:26 PM..
 
Old 01-29-2018, 07:41 AM
 
384 posts, read 213,918 times
Reputation: 747
Quote:
Originally Posted by jacoby23 View Post
We are trying to move back east to be closer to family. Unfortunately since prices are so high back east we need to save every $ we can get. Using a traditional broker would have cost us over $40k in equity. We also used a "top rated" realtor to sell our last house and it was a complete disaster.


We love this house so its a win win. If we don't get what we want we stay, if we do we go.



You are right about the prices back east, I think its everywhere. I am just north of Nashville and I am searching for a small affordable condo for my son either in Indy or Nashville and there is absolutely nothing for sale right now in his price range. I would just stick with Trelora and see what happens. Mortgage rates could very well be 5% by end of the year so you probably will want to get your home sold before the market corrects.



https://www.bankrate.com/finance/mor...-forecast.aspx
 
Old 01-29-2018, 11:38 AM
 
Location: Castle Rock, CO
196 posts, read 134,774 times
Reputation: 398
Quote:
Originally Posted by jacoby23 View Post
Again we went with a pretty measurable per square foot calc here... nothing out of the ordinary for any homes for sale in my area. We have almost 3700 finished square feet
Redfin has "finished square feet" listed as 4,543

Might want to get that/ other listing websites updated with the accurate square footage, or you're going to get some disappointed folks coming through...
 
Old 01-29-2018, 01:20 PM
 
246 posts, read 411,392 times
Reputation: 113
All of the accurate info is listed on the MLS sheet.
 
Old 01-29-2018, 03:10 PM
 
Location: Castle Rock, CO
196 posts, read 134,774 times
Reputation: 398
Quote:
Originally Posted by jacoby23 View Post
All of the accurate info is listed on the MLS sheet.
But your agent/ listing company should be making sure it's correct on these sites. It's what people use to search for homes.
 
Old 01-29-2018, 04:28 PM
 
902 posts, read 522,529 times
Reputation: 3628
You have a beautiful home. However, I agree that listing it as "brand new" is misleading as not only was it built in 2016, but you obviously have children which means your house (even a year old) has been lived in.

If you do pictures over (which I would, and next time get rid of your kids' toys, towels hanging around, etc, looks sloppy and not high-end like you want your house to appear) make sure they have better lighting. Open up all the shades. The dark pictures makes your house look rather basic. Your house would appeal to an older family as the master is on the main level and most people with little kids would consider that a deal breaker.

Also, I sold my house with Trelora a few years ago so I know how they work. You really are on your own and must be your own realtor when it comes to pricing. The Trelora rep's suggested list price for our house turned out to be too high and we had to reduce it and it eventually sold $10k under. Remember, they are just a listing service. They will do the work with contracts and such, but you are your own home's marketing director. I couldn't believe how bad their description was for my house as they listed no features, so I had to write my own which was much better. We were in a time crunch to sell our house and I was the one who suggested lowering the price while they said to keep it high. I am glad I did my own research and consider myself a pseudo-realtor, lol (real estate is my hobby). Have you received feedback from the people and realtors who have toured your house? This is huge. They will be honest as to what they like or don't like about your listing.

Last edited by Coloradomom22; 01-29-2018 at 04:54 PM..
 
Old 02-02-2018, 12:44 AM
 
Location: Evergreen
397 posts, read 588,689 times
Reputation: 469
I am in no way trying to be critical here...just helpful and straightforward. I am a realtor and very familiar with Parker as my best friend lives there and I visit her weekly (off Delbert Road). We talk about real estate all of the time and compare notes. She is the personal listing assistant to the most successful realtor in the Denver metro area (as in over $85 mil in transactions in 2017). The few things that I/we can see are:

1. Your photos are very washed out/monotone. The sky is cloudy and white, your house has a grayish exterior color and there is a blanket of light snow (again white) on the driveway, street out front, and yard. The interior photos show white windows/sky when glancing out of the windows from inside the home. Pretty blah. I would have the photos done over on a sunny, blue sky day so the house has some contrast and "pops" both inside and out.

2. The history in the MLS that Buyer's agents can view (and chat with their Buyers about) shows that your house was listed on the MLS on 1/17/2018 and also withdrawn from the market on the same day. Then it shows as "Back on Market" on 1/18/2018. As a Buyer's agent I would question the intention of the Seller...why was the house put on, withdrawn, and then reactivated? Are you really wanting to sell? Or are you flaky and going to pull out of the sale/change your mind after my Buyer is under contract to purchase your home?

3. Your development is not the only new development in Parker. You have other competition outside of Idyllwilde. Parker is booming and there's new home construction all over the place and older resale homes on much larger lots which you are also competing with.

4. The cinder block retaining wall in your yard is not attractive and makes your yard feel very closed in. There's no privacy buffer between you and the neighbors to the side of you. You keep mentioning the backyard landscaping that you did since you bought the house. When you landscaped, why didn't you place any trees or bushes along the property line?

5. Your home is a corner property, but it is still surrounded by tons of other homes and doesn't back to open space or have views.

6. I don't think a $10,000 price reduction is going to get your home sold. With as many showings as you said you are having, a house that is only $10,000 overpriced wouldn't have deterred a Buyer from making an offer already. Buyers must feel that your house is still overpriced.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado > Denver
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top