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Old 04-11-2008, 02:17 PM
 
Location: Aurora, Colorado
62 posts, read 216,165 times
Reputation: 42

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Hi everyone I had a question for you all about our local market in Denver. I'm looking to buy a place soon and I was wondering when it comes to resale value will a condo downtown Denver resell as well as a house in south aurora? I'm just looking on a little insight as to metro condos vs housing in the suburbs. Thank you!
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Old 04-11-2008, 03:05 PM
 
Location: Denver, CO
3,531 posts, read 6,260,643 times
Reputation: 823
Seems like a condo downtown would have a much better resale. We are in Thornton and sales are just pathetic there. We'll be lucky if we can pay off the mortgage and the realtor and walk away owing nothing. Pretty bad up north. Not sure about Aurora.
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Old 04-12-2008, 01:20 AM
 
Location: Aurora, Colorado
62 posts, read 216,165 times
Reputation: 42
Thank you wanttomoveeast! I really appreciate the feedback.
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Old 04-12-2008, 09:30 AM
 
Location: South Metro Denver for 25 years
8,635 posts, read 19,092,277 times
Reputation: 4342
My crystal ball is broken.

Are you spending the same amount of money?

How long to you plan to hold it for?
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Old 04-12-2008, 11:10 AM
 
Location: Aurora, Colorado
62 posts, read 216,165 times
Reputation: 42
Quote:
Originally Posted by 2bindenver View Post
My crystal ball is broken.

Are you spending the same amount of money?

How long to you plan to hold it for?

lets hope it gets fixed soon. Yes I would be spending the same amount of money, I'd stay a minimum of 3-5 years, I have no kids or pets to worry about and will not be getting either in the future, my job is half way between downtown and aurora.
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Old 04-13-2008, 11:43 AM
 
Location: South Metro Denver for 25 years
8,635 posts, read 19,092,277 times
Reputation: 4342
community needs desires, what/where do you feel would be the best type of property for your lifestyle?
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Old 04-13-2008, 08:01 PM
 
Location: Aurora, Colorado
62 posts, read 216,165 times
Reputation: 42
Thank you so much for the help 2bindenver, I guess I just wasn't asking myself the right questions. I decided on going with a condo
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Old 04-14-2008, 01:17 PM
 
Location: Denver, CO
3,531 posts, read 6,260,643 times
Reputation: 823
oh wow, I am so silly and didn't think of length. We bought a townhome in Thornton and it was a mistake. We didn't realize we'd have to sit there for 10 years to get any kind of payoff. We also didn't realize how urban we are and how we dislike the burbs. I suppose we wouldn't know either if we hadn't tried it. But now the house sales are so low and we are really worried about being able to sell it.
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Old 04-15-2008, 09:46 AM
 
Location: South Metro Denver for 25 years
8,635 posts, read 19,092,277 times
Reputation: 4342
It always helps to do some due diligence - and self analysis when plunking down money on real property.

Question to ask the check writers/owners;

1. How do I plan on using it?

2. What do I need to have in it?

3. What about the commute?

4. Who is going to be there with me/us?

5. What else do I need to have/want not have/want?

6. What should the surrounding area have/not have?

7. How long do I plan to use it?

8. What happens when something happens?

9. How does my use plans, flood plains, taxes, HOA effect me/us......

Begin with the end in mind...meaning one day you will put it on the market and sell it to the most qualified offer.
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