Best place to live & invest?

[BenWolfe]

This is an artile from my website:

After a record breaking 2005, the Larkspur Real Estate market started off slow in 2006, but the summer more than made up for the slow spring. The average sale price of Larkspur single family homes rose significantly in 2006, up over 9% and homes are selling considerably quicker than last year.

Excluding homes priced over $1,000,000 a total of 116 Larkspur single family homes in 2006 with an average sales price of $523,118, a median sales price of $520,500 and an average days on market of 147 days. In 2005, a total of 121 Larkspur single family homes sold with a significantly lower average sales price of $479,845 and a median sales price of $470,000 and a longer time on market of 156 days. These figures reveal a very healthy real estate market with exceptional appreciation of over 9%.

[masalamomma]

Larkspur? Are you serious? That is exactly what I was talking about - spend that kind of money and there could definately be trouble. I have never in my years here, heard or read about the high demand of high-end homes in Larkspur. You are an agent, true - but I didn't just fall off the back of a truck either. I also find it hard to believe that getting to Tech Center in rush hour traffic would be 20 minutes.

I'd be very very careful with that $750k.

[BenWolfe]

I would never accuse you of falling off the back of a truck, although you may be living in a cave :-)

I have lived in Larkspur for the past 4 years and I am a Realtor specializing in this market. If your only experience in Larkspur is stopping in for gas or going to the Renaissance festival I can understand your confusion. Many areas of Larkspur are quite rural and would not be a good investment, but that is not the case in the Perry Park Area.

The Perry Park area has been seeing steady constant growth for the past 3 years of between 8 and 10 percent annually. The median price of homes for sale in the Perry Park area is currently $650k and builders a snapping up lots as soon as they come on the market and building very nice new homes.

I will attach the article from The Rockey Mountain News about the 80118 zip code having the highest median home price in the Denver Metro Area.

As I mentioned I have been living in Larkspur for the past four years and my commute times are accurate. My wife used to commute to Dry Creek and it took 25 minutes each way door to door during rush hour from our house in Sterling Point (just outside of Bear Dance Golf Course). She was later transferred to Downtown 17th street and that drive took 50 minutes during rush hour.

[BenWolfe]

Q3 median sales price $527,300 in ZIP 80118 [Larkspur Colorado]

By John Rebchook, Rocky Mountain News
October 27, 2006

Larkspur topped the list with the most expensive homes in the metro area in the third quarter with a median sales price of $527,300, according to a California company that tracks home prices by ZIP codes.
Larkspur, with a ZIP of 80118, was followed by two areas in Boulder.

(You can pull the entire article from the Rocky Mountain News archives)

[nancyw0812]

BenWolfe and everyone else - thanks for the information. I have to say that looking at the map Larkspur seems pretty far away especially compared to Centennial or Parker both of which seem to have larger lots. It terms of what I'm looking for, I am not entirely sure. I'm coming from the SF Bay Area where $1M gets you 2400 square feet on 1/4 acre in a nice neighborhood (Walnut Creek). I guess my ideal would be ~3500+ sf with a basement over and above that on 1 acre. Views would be nice but not critical. I don't want to be in a truly rural area nor do I want a tract home either. Being not too far from nice shopping would be a big plus (nice shopping would be Nordstrom or equilivent). I will want to go to the mountains occasionally and my husband would want to ride his bicycle to work (weather permitting) 1 -2 days per week (his work will be at I25 & Dry Creek and he feels taht 20 miles ould be the max he could go). Living in an area with nice people that we can meet will also be very important. Also, as I said in the original post, we are looking at this as a 3 year "adventure" but if we like it would stay permanemtly (we will not be selling our CA home). Once again I appreciate all of the posts.

[BenWolfe]

I grew up in the bay area (Marin) and about 5 years ago I considered moving back there until I realized that if I spent $500k I could just barley afford a trailer. You are going to LOVE house shopping in Colorado. About 60 homes in Centennial and Parker meet your criteria (send me a PM if you would like the entire list). Most of the homes in Centennial that meet your criteria were built in the 1980's while many of the Parker homes are newer. Do you have a preference? Parker covers a very large geographic area and many of the ares will not be a reasonable ride to the office and coming across Lincoln Ave during rush hour is NOT fun. When looking in Parker I would probably eliminate anything in Elbert County due to the commute. Park Meadows Mall (many upscale shops) will be very close to your husband's office.

[2bindenver]

Nordstrom & Nordstrom Rack at Park Meadows - Lots of regular shopping at Parker & Arapahoe & the brand new ourdoor mall called South Lands at Smokey Hill & E-470.

[dj32]

Nancy,

I would look at Greenwood Village or Southmoor Park area. Both are in high demand, and will continue to be so given development around light rail. Very convenient to DTC, plus benefits of nice, safe public transportation to downtown . Schools are fantastic here and very convenient location. I live in the city (Wash Park area) but if I wanted a larger lot I would go to this location. Southmoor in particular is hot right now and you won't go wrong with your investment. Also, if you can get into Cherry Hills Heights/Mansfield Heights area of Cherry Hills that would be fantastic, but I think you may have to be high 800s for this area. Good luck!

[masalamomma]

I agree with Nancy - Greenwood Village is a real nice area. Cherry Hills areas too. You might also look at Heritage Hills and Heritage Estates in Lonetree. Heritage Estate may be out of your price range though.