This real estate is depressing me (Denver, Littleton: middle-class, cliquey, HOA fees)

[Gaylord_Focker]

Originally Posted by N610DL

I really don’t think so - high altitude affects lack of oxygen to the brain. Therefore someone with a lot of money will happily wave over an extra 55k for a bid to be complacent about having a home.

It’s a disgrace, people need to realize Denver isn’t paradise for an extended period of time. End of story.

Wasn't for you, but I love it here. Not my favorite city ever, but there is a lot to love here, and in your heart, you know that as well. You're in California, to me, that's the pinnacle of living, if you can afford it. So yes, Denver would trail California for me, but I think it's great here.

[DenverBound41]

Originally Posted by N610DL

I really don’t think so - high altitude affects lack of oxygen to the brain. Therefore someone with a lot of money will happily wave over an extra 55k for a bid to be complacent about having a home.

It’s a disgrace, people need to realize Denver isn’t paradise for an extended period of time. End of story.

As was mentioned earlier, many times it is part of a selling strategy to drum up interest and create a bidding war. If comps in your hood are $350k and you price your home at $300k, of course it could easily go for $55k over asking. Now if people are paying $55k+ over the appraised value, that is potentially a different story.

[Gaylord_Focker]

Originally Posted by bluescreen73

The Dallas house is in a pretty craptastic area. Wilmer-Hutchins, Balch Springs, and Seagoville are white trash central. That same house would probably be $350k+ in Plano or McKinney. I personally am not a fan of that housing style. All-brick exterior with simple lines and a boring brick archway over the front door. That is the predominant design of newer DFW housing stock, and it's very cookie-cutter.

Oh sure, I think the Aurora house was craptastic as well. I could live in that Dallas house though. My point is Denver is still more expensive than DFW. They just have a ton of land and stock.

[DenverBound41]

The median home price in DFW is about $250k.

The median home price in Denver is about $400k.

Denver's problem is that a starter home will cost you $300k+. A "nice" home in Dallas probably isn't that much cheaper than Denver but there is just virtually nothing sub 300k in Denver.

[bluescreen73]

Originally Posted by DenverBound41

The median home price in DFW is about $250k.

The median home price in Denver is about $400k.

Denver's problem is that a starter home will cost you $300k+. A "nice" home in Dallas probably isn't that much cheaper than Denver but there is just virtually nothing sub 300k in Denver.

DFW's median numbers are skewed by the less-than-desirable areas. You can buy a spiffy new house in a dumpy area like Wilmer for $180k, but if you want a starter house in a desirable area with good schools you're gonna pay > $300k.

[N610DL]

Originally Posted by DenverBound41

As was mentioned earlier, many times it is part of a selling strategy to drum up interest and create a bidding war. If comps in your hood are $350k and you price your home at $300k, of course it could easily go for $55k over asking. Now if people are paying $55k+ over the appraised value, that is potentially a different story.

But like I said, if (and a big if) those 55K over offers are actually happening, why are people doing just this? It just seems so overhyped and desperate.

[emm74]

Originally Posted by N610DL

But like I said, if (and a big if) those 55K over offers are actually happening, why are people doing just this? It just seems so overhyped and desperate.

Desperate? Kind of like your desperate incessant hating on Denver? That kind of desperate? Let it go already. We get it. You don't like Denver. Some people do. Time to move on.

[Quietude]

Originally Posted by N610DL

But like I said, if (and a big if) those 55K over offers are actually happening, why are people doing just this? It just seems so overhyped and desperate.

As others have said, you can stop shouting out reasons why Denver sux - even in a relatively short tenure here, I got it, I got it.

But overbidding happens in every hot market, whether it's a neighborhood, a development, a city or a region. Asking "why" is a supremely ignorant question with easy answers for anyone who understands a limited market coveted by more buyers than there are sellers.

So why is it like that here? Because 3 million people like living in a sucky, boring, midwesternish city in the middle of nowhere, that's why.

[N610DL]

Originally Posted by Quietude

As others have said, you can stop shouting out reasons why Denver sux - even in a relatively short tenure here, I got it, I got it.

But overbidding happens in every hot market, whether it's a neighborhood, a development, a city or a region. Asking "why" is a supremely ignorant question with easy answers for anyone who understands a limited market coveted by more buyers than there are sellers.

So why is it like that here? Because 3 million people like living in a sucky, boring, midwesternish city in the middle of nowhere, that's why.

Wow - you need to stop putting words in my mouth. As soon as a said "Queen City of the Plains" which is actually on wikipedia as a slang term for the city itself, it opened up a can of worms.

Can I ask you a question? I grew up in NJ, which is always picked on by people as being a toxic waste dump (even people from other parts of the Northeast do so.) I current live in Los Angeles, which in Denver people stereotyped as being too big and having lots of traffic. I let the insults roll off when I hear it.

So why is it when I give Denver a little bit of criticism people get so freaking butt hurt on these forums? You do realize that is as unrealistic as is the real estate market. And I never ever said "Denver Sucks." You just did though.

[Timmyy]

So cliche but it is just simple supply and demand. The supply is low and the demand is high so the values go up. I don't see that changing any time soon and it certainly is not a bubble. The only way I see a possible bubble burst is if we have a mass exodus out of the metro area or the entire country has a melt down. I believe there are still more people moving here than moving away.

As a homeowner I want the values to continue to rise for selfish reasons but I also wouldn't mind them leveling out so younger people can get into a home without breaking the bank. I couldn't buy in San Diego which is why I moved here in 1999. Now the same thing is happening here.