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Old 11-12-2015, 07:50 PM
 
Location: COS > DEN > ATL
3,926 posts, read 3,255,364 times
Reputation: 3466

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davidbarnes, your real estate chart yet again continues to depress me... People were saying this summer that they expected prices to flatten out, that we had reached a peak, but the numbers keep on climbing. If I do get a job here in Denver after graduating this December, entry level housing is like pretty much non-existent except for some condos in Aurora. It'll be interesting to see how this all pans out.
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Old 11-12-2015, 09:04 PM
 
Location: Berkeley, Denver, CO USA
15,756 posts, read 23,696,395 times
Reputation: 27038
Quote:
Originally Posted by Phil P View Post
davidbarnes, your real estate chart yet again continues to depress me...
Glad to read that.
My retirement mutual funds certainly hold drug stocks.
Please buy more feel-good drugs.
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Old 11-12-2015, 09:33 PM
 
Location: COS > DEN > ATL
3,926 posts, read 3,255,364 times
Reputation: 3466
Quote:
Originally Posted by davebarnes View Post
Glad to read that.
My retirement mutual funds certainly hold drug stocks.
Please buy more feel-good drugs.
Lol maybe all the denver renters are smoking pot so they can drown their sorrows

Last edited by Phil P; 11-12-2015 at 09:46 PM..
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Old 11-13-2015, 07:36 AM
 
Location: Highlands Ranch, CO
556 posts, read 642,939 times
Reputation: 843
Quote:
Originally Posted by Phil P View Post
davidbarnes, your real estate chart yet again continues to depress me... People were saying this summer that they expected prices to flatten out, that we had reached a peak, but the numbers keep on climbing. If I do get a job here in Denver after graduating this December, entry level housing is like pretty much non-existent except for some condos in Aurora. It'll be interesting to see how this all pans out.
Wait a minute, you expected to buy a house right after graduating college? Is this the typical expectation for kids nowadays? Because if it is, that's crazy no matter where you live.

Home ownership is something that is aspired to over time which requires hard work to save money and get yourself in a position to may mortgage payments while saving money, etc. It's not something you should expect right out of college.
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Old 11-13-2015, 11:46 AM
 
Location: COS > DEN > ATL
3,926 posts, read 3,255,364 times
Reputation: 3466
Quote:
Originally Posted by guyatwork37 View Post
Wait a minute, you expected to buy a house right after graduating college? Is this the typical expectation for kids nowadays? Because if it is, that's crazy no matter where you live.

Home ownership is something that is aspired to over time which requires hard work to save money and get yourself in a position to may mortgage payments while saving money, etc. It's not something you should expect right out of college.
Yeah, I made a thread about it on the mortgages section of this forum. Basically, I punched the numbers and it looks like approx 600 a month to buy vs 900 a month to rent. I would break even at about 2 years with no house appreciation. But this is because I don't have student loans and I have savings coming out of college.
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Old 11-13-2015, 02:05 PM
 
Location: Highlands Ranch, CO
556 posts, read 642,939 times
Reputation: 843
Quote:
Originally Posted by Phil P View Post
Yeah, I made a thread about it on the mortgages section of this forum. Basically, I punched the numbers and it looks like approx 600 a month to buy vs 900 a month to rent. I would break even at about 2 years with no house appreciation. But this is because I don't have student loans and I have savings coming out of college.
You have enough savings coming out of college to put a downpayment on a house?!?! Holy crap I was doing something wrong. Well good on you!
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Old 11-14-2015, 02:53 PM
 
Location: Phoenix, AZ
2,653 posts, read 2,287,416 times
Reputation: 2825
Default 3rd Qtr. 2015 Median Home single family home prices are in.

The good news is the cities I have a vested interest in (Phoenix, Denver, Sacramento) have held their own since the 2nd Qtr. 2015 price release. Denver saw a very slight drop of 2K from last quarter, but that doesn't mean much. It's still in record high territory.

I was hoping for more of a bump up in Phoenix's median home prices. More jobs/manufacturing are coming here, so that will probably help in the future.

If you want to talk about INSANELY, inflated, "not worth the money" home values, look to Southern CA- San Diego's median price is now at a ridiculous 554K!; Los Angeles is at 506K. I've lived in So. Cal for a time, and believe me, those prices are NOT worth it, even if if the weather is wonderful 70 degrees everyday!

For those of you looking for a metro area with ULTRA low home prices, look to Rockford, IL. Median price is 102K. I don't know how that city can turn things around with such low single family home prices. Slashing their property taxes might help, if they could do it.

Appreciate your thoughts, inputs!
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Old 11-14-2015, 04:46 PM
 
Location: Highlands Ranch, CO
556 posts, read 642,939 times
Reputation: 843
Quote:
Originally Posted by DougStark View Post
The good news is the cities I have a vested interest in (Phoenix, Denver, Sacramento) have held their own since the 2nd Qtr. 2015 price release. Denver saw a very slight drop of 2K from last quarter, but that doesn't mean much. It's still in record high territory.

I was hoping for more of a bump up in Phoenix's median home prices. More jobs/manufacturing are coming here, so that will probably help in the future.

If you want to talk about INSANELY, inflated, "not worth the money" home values, look to Southern CA- San Diego's median price is now at a ridiculous 554K!; Los Angeles is at 506K. I've lived in So. Cal for a time, and believe me, those prices are NOT worth it, even if if the weather is wonderful 70 degrees everyday!

For those of you looking for a metro area with ULTRA low home prices, look to Rockford, IL. Median price is 102K. I don't know how that city can turn things around with such low single family home prices. Slashing their property taxes might help, if they could do it.

Appreciate your thoughts, inputs!
That's why I'm looking to get out of LA. My neighborhood's median home price is about $750,000. No thank you. Sunshine is nice and all, but not THAT nice.
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Old 11-15-2015, 05:26 PM
 
Location: COS > DEN > ATL
3,926 posts, read 3,255,364 times
Reputation: 3466
Quote:
Originally Posted by guyatwork37 View Post
You have enough savings coming out of college to put a downpayment on a house?!?! Holy crap I was doing something wrong. Well good on you!
Lol. Things just worked out well and I went to community college and then to 4 year and stayed at home the whole time. There were drawbacks, but this is one big benefit from that choice. But it's still only enough for a meh home downpayment... I don't know exactly what I'll do yet.
Quote:
Originally Posted by DougStark View Post
The good news is the cities I have a vested interest in (Phoenix, Denver, Sacramento) have held their own since the 2nd Qtr. 2015 price release. Denver saw a very slight drop of 2K from last quarter, but that doesn't mean much. It's still in record high territory.

I was hoping for more of a bump up in Phoenix's median home prices. More jobs/manufacturing are coming here, so that will probably help in the future.

If you want to talk about INSANELY, inflated, "not worth the money" home values, look to Southern CA- San Diego's median price is now at a ridiculous 554K!; Los Angeles is at 506K. I've lived in So. Cal for a time, and believe me, those prices are NOT worth it, even if if the weather is wonderful 70 degrees everyday!

For those of you looking for a metro area with ULTRA low home prices, look to Rockford, IL. Median price is 102K. I don't know how that city can turn things around with such low single family home prices. Slashing their property taxes might help, if they could do it.

Appreciate your thoughts, inputs!
Quote:
Originally Posted by guyatwork37 View Post
That's why I'm looking to get out of LA. My neighborhood's median home price is about $750,000. No thank you. Sunshine is nice and all, but not THAT nice.
I know, looking around while searching for work after college, I just scratched out anything that was from Cali for that reason. And their pay wasn't that much higher either. It seems like a lot of people are rethinking California with the current prices. Who wouldn't reevaluate when that much is on the line to either pay for or to make if you sell?

If I had my druthers, I would move to the IL/IN/OH/KY/MO area after graduation, and house prices have a lot to do with that, because thinking of how you could save several hundred each month on rent/mortgage is really attractive. It all depends on what shakes out from job hunting though.
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Old 11-16-2015, 12:03 AM
 
Location: Highlands Ranch, CO
556 posts, read 642,939 times
Reputation: 843
Quote:
Originally Posted by Phil P View Post
Lol. Things just worked out well and I went to community college and then to 4 year and stayed at home the whole time. There were drawbacks, but this is one big benefit from that choice. But it's still only enough for a meh home downpayment... I don't know exactly what I'll do yet.



I know, looking around while searching for work after college, I just scratched out anything that was from Cali for that reason. And their pay wasn't that much higher either. It seems like a lot of people are rethinking California with the current prices. Who wouldn't reevaluate when that much is on the line to either pay for or to make if you sell?

If I had my druthers, I would move to the IL/IN/OH/KY/MO area after graduation, and house prices have a lot to do with that, because thinking of how you could save several hundred each month on rent/mortgage is really attractive. It all depends on what shakes out from job hunting though.
I dont know qhat your degree is in, but Charlotte is a big financial hub with really nice homes for really cheap if that's what you're looking for.
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