Denver Real Estate News (Data and Charts only) (Highlands Ranch, Parker: new construction, school)

[davebarnes]

Highland Place - Julian and 38th Avenue
Highland Place-Denver
1 bedrooms - $1500+
2 bedroom - $2100+

2785 Speer Blvd
Apartments in Denver, CO :: 2785 Speer Apartments - Apartments For Rent
1 bedrooms - $1600+
2 bedroom - $2400+

[JohnnyDenver]

A friend just bought a house in the 2100 block of West 34 (Denver) just about 3 blocks east of Federal. 2 bed, 1 bath on 1278 square feet. Paid $340,000. Planning on a flip, but not sure how much more someone will pay for such little space with only 1 bath.

[ShampooBanana]

Originally Posted by JohnnyDenver

A friend just bought a house in the 2100 block of West 34 (Denver) just about 3 blocks east of Federal. 2 bed, 1 bath on 1278 square feet. Paid $340,000. Planning on a flip, but not sure how much more someone will pay for such little space with only 1 bath.

1 bath is pretty typical of the small, older homes in that area. That's actually not a bad deal depending on the condition of the home. I've seen a lot of homes in there where they've finished off the basement and added a bath and lower master suite, plus usually a family room to add livable square footage, and those usually go for upwards of $450k.

[JohnnyDenver]

Originally Posted by ShampooBanana

1 bath is pretty typical of the small, older homes in that area. That's actually not a bad deal depending on the condition of the home. I've seen a lot of homes in there where they've finished off the basement and added a bath and lower master suite, plus usually a family room to add livable square footage, and those usually go for upwards of $450k.

No basement in that house. She was talking about trying to add a second bath on the upper level which is a master bedroom loft, but that may be difficult. I don't see a big profit on a quick flip having to pay re-modeling costs, real estate fees, and capital gains tax.

[ShampooBanana]

Originally Posted by JohnnyDenver

No basement in that house. She was talking about trying to add a second bath on the upper level which is a master bedroom loft, but that may be difficult. I don't see a big profit on a quick flip having to pay re-modeling costs, real estate fees, and capital gains tax.

Ahhhh. No basement. Well that helps explain the price.

[davebarnes]

Additional homes for sale quickly snapped up in metro Denver

Additional homes for sale quickly snapped up in metro Denver - The Denver Post

"The number of active listings available dropped to 5,152 in January, a 4 percent drop from December and 26 percent below active listings in January 2014."

[ShampooBanana]

Originally Posted by davebarnes

Additional homes for sale quickly snapped up in metro Denver

Additional homes for sale quickly snapped up in metro Denver - The Denver Post

"The number of active listings available dropped to 5,152 in January, a 4 percent drop from December and 26 percent below active listings in January 2014."

According to the latest John Burns Real Estate metro data, months of supply is at 1.1 - an all-time low. Months of supply never exceeded 2.0 in all of 2014, which is amazing.

[davebarnes]

New home listings soar; more homes needed to sell

“We have recently heard cases where homes that qualify for conforming loans immediately are having 30 to 40 showings and four to eight offers,” Niederman said. However, he cautioned that isn’t happening with every home, but with those that show well and are priced right.

[mic111]

On another thread a poster who used to live here 3 yrs ago wondered if real estate had gone up in the last 3 yrs. I decided to pull out the price list of a neighborhood in Broomfield that I've visited on occasion to check on their progress. It was illustrative of the charts above.

Sept. 2011 - Lowest base price = $499,995. Highest base price = $569,995.
Feb. 2014 - Lowest base price = $603,995. Highest base price = $684,995.
May 2014 - Lowest base price = $$621,995. Highest base price = $707,995.
Feb. 2015 - Lowest base price = $629,995. Highest base price = $727,995.

This was a neighborhood that had been started (streets put in but no homes), but went into bankruptcy in '08/'09 because the developer wasn't going to be able to sell the homes. It did change from full custom to luxury tract homes when it was taken over by another developer.

26%-27% increase in 3 yrs.

[JohnnyDenver]

Word to those wanting to move here: This morning on News 9: Housing and rental prices are at an all time high and show NO signs of slowing down.