Pradera (Parker: for sale, foreclosures, HOA fees)

[skanman7]

Glut of homes for sale in Pradera...with a few unsightly foreclosures thrown into the mix. Is this simply a short-term (another year/2) supply-demand imbalance and market readjustment...or...are there other more structural/financial/water/tax issues at work? As a prospective "relocator" to that area, how worried should I be? Thanks to all, in advance, for the insights.

[2bindenver]

Lots of homes for sale everywhere. Lots in Douglas County. Foreclosures are temporary.

How long will you live there? Are you going to pick up a foreclosure (heavy discount), a short sale (small discount), or a new build (retail)?

Tax and water issues would be County level. Structural? Each property is given a soil test and engineered for the results.

HOA may be hurting until payments have caught up. Colorado is a HOA super-lien state, so HOA's know they can collect six months of back HOA fees plus costs at closing.

[skanman7]

thanks...will probably put my best foot forward on several short sales the week of Jan. 25th when i'm in CO. i know from experience they can turn into soap operas. in the ideal sense, i would live there for many, many years. however, one of the beauties of buying "correctly" is the wherewithal to sell/move more quickly and not be bogged down.

[2bindenver]

I don't think short sales are soap operas. They have convoluted rules, and take an extraordinary amount of time. Each investor has their own set of rules. Sometimes they change the rules mid-game. Play the game by the rules, but play to win.

Find someone local with experience in short sales. A CDPE or a SFR designation.

[bhcompy]

Pradera hit at the wrong time I think. I was out there two years ago and they were still selling unoccupied houses, essentially right before the banking collapse. I can imagine that prices have suffered since then considering the grossly overpriced nature of the houses. As it is though, the development looks very nice, has it's own firestation, and borders Cherry Creek(and it's walking trails). The thing I didn't like was the lack of fences around the properties

That said, if I was buying in that area I'd buy in the Pinery at the price point Pradera is at. And of course, Pradera is a DR Horton product, so I'm not sure you get what you pay for. I'd also hesitate to buy brand new there because of the expansive soils. The neighboring Pinery Glen neighborhood is almost 10 years old and houses there show the issues with the area. Porches coming away from the house, plumbing shifting leading it in not lining up with the street or water sitting in the pipe(which are PVC), etc, and those are just from the houses I viewed.

[RickRN]

Watch out for those unsightly property taxes and utility fees. Oh yeah, Parker sales tax too. Not a cheap place to live by any means. Access to and fro I-25 from Parker/Pradera during rush is a nightmare.

[maciesmom]

Originally Posted by RickRN

Watch out for those unsightly property taxes and utility fees. Oh yeah, Parker sales tax too. Not a cheap place to live by any means. Access to and fro I-25 from Parker/Pradera during rush is a nightmare.

Nightmare might be a bit strong...incovenient? I would probably agree but I would guess that would improve once the Hess Rd. interchange is completed.

[skanman7]

thanks for the insights and candor. i'll view the area a bit more "prepared". bhcomby -- quick question...one of the houses i'm looking at was built by eldorado homes -- who apparently has a very good reputation. was only part of pradera done by dr horton? was horton just the big-picture developer?...because...there are several areas where custom homes are dynamically higher price(s) than horton range.

[2bindenver]

There are two "sides" to Padera, the production builder DR Horton and the Semi-Custom side, closer to the golf course.

[RickRN]

besides the true custom builders, Joyce Homes is probably the best of the semi-custom builders in Pradera