What's wrong with this picture? (Denver, Aurora: to rent, home builders, heat pump)

[EscapeCalifornia]

Originally Posted by LBear

The home is overpriced and will need thousands of dollars in updates. I explained why in my other post.

You can buy a new home, built in 2007 with a 2-year warranty, with 5 Beds 3 Baths, SF: 3,432 for $175K. That's $50 a sq.ft.

Don't buy it, do more research. That's my 2 cents...

Where? Brighton? Limon?

[Count David]

Originally Posted by cabolissa

I found a listing that's in our price range, and the house looks great. Is this a pretty average listing, or is there something wrong with it? I'm afraid it looks too good to be true. I know that Aurora has some dodgy areas, so is that the reason for the low prices?

There is nothing wrong with it per se, but it is way out there, in relative terms.

There are power lines out that way as well, I believe they go across an empty field.

There is still a lot of development going on out there as well.

I'm going to disagree with the others and say it is priced about right.

That neighborhood is pretty average, and that subdivision is pretty small as well.

80015 is a great area, pretty reasonably priced as well, I just hope for you/your family's sake work won't be too far away. Downtown is quite far from there, but at least the DTC is not.

[tew]

Hi Cabolissa

From what I saw I liked the house and the price is right.

Let me know when your house hunting out here and Ill tag-along.

[LBear]

If you are paying $106.00 per sq.ft. for a 10-year old home in today's market, in the Aurora area, you are completely overpaying.

1 year from now, that same home will devalue and be worth $75 per sq.ft. If you are willing to lose $50,000 in equity in 1 year, plus spend money on major home updates and fixes, then feel free to buy it.

The home is 10+ years old, it will need roof replacement, A/C repair, hot water replacement, furnace replacement, etc., in the next 1-5 years. ALL those major items have a life expectancy in the 10-15 year range. That is their LIFE EXPECTANCY. Those costs MUST be figured into the home before you buy.

Also, the power lines in the back of the home are an External Obsolescence and it is NOT curable. Any appraiser or investor worth his or her 2 cents would advise AGAINST buying a home with an External Obsolescence, such as the electrical towers. Not to mention the possible health risks involved with high-voltage wires near your home. Many studies link cancer and other health issues with living next to high power electrical towers.

[denverian]

Originally Posted by LBear

The home is overpriced and will need thousands of dollars in updates. I explained why in my other post.

You can buy a new home, built in 2007 with a 2-year warranty, with 5 Beds 3 Baths, SF: 3,432 for $175K. That's $50 a sq.ft.

Don't buy it, do more research. That's my 2 cents...

Seriously - do you EVER have anything positive to say? You make it sound like at 11 years old, any house is in need of bull-dozing. Also for $50 a sq. foot on a new house, you're going to be way outside the city and far from much of anything. New Houses in Stapleton, where I live, are more in the $240 a sq. ft. range, but you pay for the location.

[formercalifornian]

@Cabo: While I'm not familiar with this area, it looks like a good solid house. LBear mentioned that it has older cabinets and outdated lighting fixtures. Bah! So did mine, but a little paint and a quick trip to the home improvement store fixed that, plus I got to pick exactly what I liked.

As far as the roof, I agree that you'll probably want to have it inspected, but it may still have some good life left in it even with our "thermal shocks." And, same goes for the major appliances, but you were going to do that anyway even without LBear's tirade against older houses, right? If you like the neighborhood and the house, you can always ask for concessions from the seller to make any necessary repairs.

I checked the school reports, and they looked decent. In fact, Eaglecrest High School's assistant principal was recently named 2009 Assistant Principal of the Year by CASE.

I would check to see what the foreclosure rate is in the neighborhood, as my experiences in Castle Rock taught me that financial difficulties for a few families have a way of rippling through the neighborhood, causing upheaval for all, even those whose bank accounts are on firm footing.

Someone earlier made mention of above-ground power lines. I found in our search that high-tension wires do in fact depress prices on houses within close proximity. We chose to stay away from them.

Anyway, you'll know more if you get to see the house in person. I don't remember reading about your plans. Are you making a trip soon?

[cabolissa]

Originally Posted by LBear

IMHO, I would look for a newer home, in a nicer area. You can get a new home with around 2,000+ sq.ft for the same price in other areas. Around DIA there are hundreds, if not thousands of homes for sale that are new and sell for the $150K-$200K price range. You get more sq. footage and a new home.

You have a link to these new homes in a better area? Please share!

[cabolissa]

Originally Posted by tew

Hi Cabolissa

From what I saw I liked the house and the price is right.

Let me know when your house hunting out here and Ill tag-along.

Awesome, thanks!!!

The hardest part is that we're going to rent for 6 months when we get there this summer, but I don't want to move my daughter to another school when we buy. I have to get a feel for the areas we can afford to buy in before we find an apartment to rent. Centennial looks like a decent fit. We'll likely be coming out in the spring to see the areas.

One thing that was wierd... The listing said 80015 was Centennial, but google maps listed it as Aurora. Which is it?

[denverian]

Originally Posted by formercalifornian

@Cabo: While I'm not familiar with this area, it looks like a good solid house. LBear mentioned that it has older cabinets and outdated lighting fixtures. Bah! So did mine, but a little paint and a quick trip to the home improvement store fixed that, plus I got to pick exactly what I liked.

As far as the roof, I agree that you'll probably want to have it inspected, but it may still have some good life left in it even with our "thermal shocks." And, same goes for the major appliances, but you were going to do that anyway even without LBear's tirade against older houses, right? If you like the neighborhood and the house, you can always ask for concessions from the seller to make any necessary repairs.

I checked the school reports, and they looked decent. In fact, Eaglecrest High School's assistant principal was recently named 2009 Assistant Principal of the Year by CASE.

I would check to see what the foreclosure rate is in the neighborhood, as my experiences in Castle Rock taught me that financial difficulties for a few families have a way of rippling through the neighborhood, causing upheaval for all, even those whose bank accounts are on firm footing.

Someone earlier made mention of above-ground power lines. I found in our search that high-tension wires do in fact depress prices on houses within close proximity. We chose to stay away from them.

Anyway, you'll know more if you get to see the house in person. I don't remember reading about your plans. Are you making a trip soon?

This mentality that a 10 year old house is crubling and too old, so go further out and find a brand new one, is a big part of what's wrong with this country and why we have so much sprawl! Maybe that kitchen could use new counters, add a nice backsplash, re-face the cabinets, and a new lighting fixture. What's that cost? Maybe $3000 - could probably be done for $2000. Talk about throwing away the baby with the bath water!

[Count David]

Originally Posted by cabolissa

One thing that was wierd... The listing said 80015 was Centennial, but google maps listed it as Aurora. Which is it?

The official USPS designation for 80015 is Aurora, although 80015 covers parts of Aurora and Centennial, and even some unincorporated Arapahoe thrown in for good measure.

That address is in the City of Centennial.

It doesn't much of a difference down in those parts, Centennial has quite gerrymandered city limits, especially out east. At that address, you'll have Aurora to the north, east, and west of you in very close proximity (we're talking across a main road, one stoplight, etc). To the south, you have mostly Centennial until it becomes, you guessed it, Aurora again.