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Old 01-25-2010, 12:38 AM
 
3,602 posts, read 4,098,510 times
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Quote:
Originally Posted by EscapeCalifornia View Post
It sounds like you're basing the payment on 100% of the list price then.
Isn't that the correct way to do this theoretical exercise?

In looking at the link I think I have a better understanding anyways, its based on relative cost compared to historical. It isn't necessarily saying owning is cheaper than renting, just that the ratio is lower than it has been.
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Old 01-25-2010, 08:11 AM
 
Location: South Metro Denver for 25 years
8,585 posts, read 18,727,491 times
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Give me some theoretical numbers and I'll run a rent vs buy analysis.

I need rent amount, PITIH and how long you plan to stay.

I can get fancy with appreciation, tax bracket...or just the basics.
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Old 01-25-2010, 10:50 AM
 
17,193 posts, read 23,775,334 times
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Quote:
Originally Posted by SamIamtoo View Post
I would appreciate is you will provide the link to the LiveContent or let me know where I can find that information.
Thanks.
Look in this thread, especially posting #7.
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Old 01-25-2010, 07:12 PM
 
10 posts, read 15,772 times
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Thanks, Mike FBE. That indeed was a good post with a lot of info on potential neigbourhoods.
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Old 01-26-2010, 09:57 AM
 
Location: South Metro Denver for 25 years
8,585 posts, read 18,727,491 times
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Default Case Shiller index Denver's # 3

Denver ranked No. 3 by Case-Shiller - The Denver-area housing market ranked No. 3 of the 20 cities tracked in the closely watched S&P/Case-Shiller Home Price Indices report released today. The Denver housing market showed a 0.5% gain in the year ending in November, bested only by Dallas and San Francisco, which showed a 1.4% and a 1.0% gain, respectively.
Denver ranked No. 3 of 20 cities | InsideRealEstateNews.com
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Old 01-27-2010, 09:00 AM
 
Location: South Metro Denver for 25 years
8,585 posts, read 18,727,491 times
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Post Denver Home Sales by County

Denver again led metro area in home resales in 2009, but sales declined - Denver County continued to have more sales than other metro-area counties of existing single-family homes in 2009. The county had 7,482 closed sales of such homes last year, down from 9,399 the prior year. The largest number of homes sold in Denver County — 2,581 — were in the $100,000-$200,000 price range, followed by 1,580 home sold in the $200,000-$300,000 “move-up” range. “First-time homebuyer closings, via tax-credit assistance, took over the market for the majority of the year,” said Metrolist analyst Gary Bauer in his report. “First-time homebuyer transactions are estimated to be 40-plus percent of all [home sale] closings.” See the full article for data for all metro counties.
Denver again led metro area in home resales in 2009, but sales declined - Denver Business Journal:
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Old 02-17-2010, 08:51 AM
 
Location: South Metro Denver for 25 years
8,585 posts, read 18,727,491 times
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Default Denver Existing Homes Sales January 2010

Inventory Jan 2009 Jan 2010
Active 15,047 13,030
Under Contract 3,134 2,883

Sales 1,943 1,841

Average Days on Market 99 90
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Old 02-18-2010, 01:09 AM
 
3,602 posts, read 4,098,510 times
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Job market is holding things up well compared to much of the country, but the sales numbers in a flat to declining pricing environment with similar interest rates to prior year can't be comforting. I've seen this story before in a number of other markets and what eventually happens is you get a standoff where buyers won't buy unless they get what is a perceived big bargain and sellers won't budge. The sales dry up, but the days on market doesn't really change or even declines because sellers just take things off the market if they don't get their price. This could especially become an issue if the first time buyers pull back.

As for the OP, I have been crunching the numbers some more with a realtor and it does seem odd. We are definitely seeing a situation where renting is better than buying at least from a payments standpoint and there are a lot of markets in the West where buying is clearly and undeniably cheaper than renting, but are not on this list. To me it seems more like the list was an argument for what markets the writers/analysts thought were most likely to go up in value in the next year or two, not which made the best sense from a buy versus rent equation.
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Old 02-19-2010, 06:33 PM
 
Location: Parker
18 posts, read 28,536 times
Reputation: 15
We've been telling our out of state clients for a year that Denver is poised for a rebound in the real estate market. Glad to see that Forbes is backing us up.
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