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Old 02-12-2018, 03:29 PM
 
Location: Western USA
236 posts, read 245,409 times
Reputation: 290

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Have you considered looking in Englewood or Littleton?

Both have their more city-oriented neighborhoods which might match the urban feel of Denver, depending on how much density you like.

It's my suspicion that pricing would be lower in Englewood and you get plenty of services and walkability. Also you're transitional to the DU area which is a bonus.
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Old 02-13-2018, 06:39 AM
 
Location: Way up high
14,115 posts, read 20,816,661 times
Reputation: 14390
I'd love to buy a house here but no way in HELL would I pay 55k over asking price. That's desperation at it's finest
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Old 02-13-2018, 07:33 AM
 
Location: Colorado
2,561 posts, read 5,008,106 times
Reputation: 2223
I currently live in a SW Denver ghetto hood or at least the crime is out of control, but still have a property in Cherry Creek North. The lots alone surrounding the Cherry Creek place start at around 1 million, condos average around 800- million + The insane thing is I am looking at moving back to OC and those prices sound normal.
Some hoods here just like California are never going down in price, desirability and the good deals are few and far between unless you purchased a few years ago.
This fevered market, limited inventory is the perfect storm for sellers, real estate brokers(heartless weasels) I used to be one lol ; just got to make concessions.
I started looking at houses in the area of California I want to return to; now thinking about a two bedroom condo; I feel your pain.
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Old 02-13-2018, 08:09 AM
 
Location: Denver CO
20,975 posts, read 11,615,689 times
Reputation: 31807
Quote:
Originally Posted by himain View Post
I'd love to buy a house here but no way in HELL would I pay 55k over asking price. That's desperation at it's finest
Only if asking price is some objective measure of the value of a house. It's not - not the actual value and not even the market value. At best, it's an educated guess of what the house would sell for in that particular market at that particular time.

Bottom line, market value is what people are willing to pay and if a house is getting multiple offers well above asking, it was either a very bad guess or it was a deliberate ploy to attract a lot of attention and multiple offers to create a bidding war.
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Old 02-13-2018, 08:11 AM
 
3,276 posts, read 1,481,366 times
Reputation: 2458
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Old 02-13-2018, 09:28 AM
 
1,788 posts, read 1,125,055 times
Reputation: 1110
Quote:
Originally Posted by Scott5280 View Post
I currently live in a SW Denver ghetto hood or at least the crime is out of control, but still have a property in Cherry Creek North. The lots alone surrounding the Cherry Creek place start at around 1 million, condos average around 800- million + The insane thing is I am looking at moving back to OC and those prices sound normal.
Some hoods here just like California are never going down in price, desirability and the good deals are few and far between unless you purchased a few years ago.
This fevered market, limited inventory is the perfect storm for sellers, real estate brokers(heartless weasels) I used to be one lol ; just got to make concessions.
I started looking at houses in the area of California I want to return to; now thinking about a two bedroom condo; I feel your pain.
It's definitely interesting to see Denver real estate creep up to SoCal levels, despite home ownership being less expensive in DEN.

Condos in Cherry Creek for 800K though? Jesus Christ, Denver is on the foot edge of the plains. In no way should a condo be that much.

Reminds me a lot of how the real estate market was in Northern NJ in the 1990s. Lot's of McMansions being sold in 1994-1995 (we're talking HUGE borderline mansions 4-6 bedrooms, good school system) for under 500K and being over a million by 1999.

To a certain extent this happened to my family but the house wasn't as large and property size not that big. We got it in 1999 for 483K and sold in '02 when my parents split up for 650K. I believe homes in those neighborhood now average close to a million. My old house had 4 bedrooms, a finished basement, deck, built in 1999 etc.

Despite all of this, NJ hasn't fluctuated as much since the real estate crash. Homes retained their values pretty well, but not sure how the DEN metro area will put up with this when a dip happens.
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Old 02-13-2018, 10:06 AM
 
Location: Aurora Denveralis
8,083 posts, read 2,816,523 times
Reputation: 12061
Quote:
Originally Posted by himain View Post
I'd love to buy a house here but no way in HELL would I pay 55k over asking price. That's desperation at it's finest
Shop at an appropriately lower tier, knowing you may have to overbid by 20%. If you can't afford ask+20% at the tier you're seeking, it's simply out of your range.

...says the cash buyer who didn't have any easier time of it, in the end - just a good agent, a lot of houses looked at, a willingness to take on some fixing, and some luck.
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Old 02-13-2018, 10:11 AM
 
Location: Denver CO
20,975 posts, read 11,615,689 times
Reputation: 31807
Quote:
Originally Posted by N610DL View Post
Condos in Cherry Creek for 800K though? Jesus Christ, Denver is on the foot edge of the plains. In no way should a condo be that much.

what does that even mean??
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Old 02-13-2018, 10:13 AM
 
Location: Aurora Denveralis
8,083 posts, read 2,816,523 times
Reputation: 12061
Quote:
Originally Posted by emm74 View Post
what does that even mean??
"Denver's just a boring midwest city and shouldn't have RE prices higher than, say, Omaha."

Or so I read it. But I, too, think $800k condos are ridiculous.
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Old 02-13-2018, 10:40 AM
 
Location: San Diego
34,919 posts, read 31,952,177 times
Reputation: 19390
Quote:
Originally Posted by N610DL View Post
It's definitely interesting to see Denver real estate creep up to SoCal levels, despite home ownership being less expensive in DEN.

Condos in Cherry Creek for 800K though? Jesus Christ, Denver is on the foot edge of the plains. In no way should a condo be that much.

Reminds me a lot of how the real estate market was in Northern NJ in the 1990s. Lot's of McMansions being sold in 1994-1995 (we're talking HUGE borderline mansions 4-6 bedrooms, good school system) for under 500K and being over a million by 1999.

To a certain extent this happened to my family but the house wasn't as large and property size not that big. We got it in 1999 for 483K and sold in '02 when my parents split up for 650K. I believe homes in those neighborhood now average close to a million. My old house had 4 bedrooms, a finished basement, deck, built in 1999 etc.

Despite all of this, NJ hasn't fluctuated as much since the real estate crash. Homes retained their values pretty well, but not sure how the DEN metro area will put up with this when a dip happens.
The median home price in S Cal is now pushing 700K. 400K would be a freakin bargain. Here it would be a freakin tear down wreck.
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