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Old 03-30-2015, 02:39 PM
 
Location: Arvada, CO
13,827 posts, read 29,936,658 times
Reputation: 14429

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I think Denverian's sub $500K comment is a bit of a stretch. I'd go as far to say <$225K, which only gets you into the Ruby Hill's and Westwood's of the world. You should still be able to get into an average or better neighborhood in c/c Denver at $325K.

I think many of you must live extravagant lifestyles. Our monthly out-go is $2500. That's mortgage, utilities, phones, car/life insurance, everything that comes as a "bill". We have three kids.

If we can make it, so can you.
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Old 03-30-2015, 03:16 PM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,225,839 times
Reputation: 10428
Quote:
Originally Posted by guyatwork37 View Post
I've always liked the southern suburbs and they have what appear to be really nice houses well under $400,000. I've thought they were nice neighborhoods too (Highlands Ranch, Ken Caryl, Littleton, Lone Tree, etc.). Is this incorrect?

The urban life does not appeal to me in the slightest, very much a suburb guy.
Yes, I believe prices are cheaper the further out you live. If you love L.A. suburbs, you'll love Highlands Ranch. Someone from HR could confirm prices there. But I'm pretty sure you'll still run into bidding wars anywhere in the metro area.
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Old 03-30-2015, 03:19 PM
 
Location: Denver, CO
2,387 posts, read 2,211,217 times
Reputation: 1941
Quote:
Originally Posted by David Aguilar View Post
I think Denverian's sub $500K comment is a bit of a stretch. I'd go as far to say <$225K, which only gets you into the Ruby Hill's and Westwood's of the world. You should still be able to get into an average or better neighborhood in c/c Denver at $325K.

I think many of you must live extravagant lifestyles. Our monthly out-go is $2500. That's mortgage, utilities, phones, car/life insurance, everything that comes as a "bill". We have three kids.

If we can make it, so can you.
How much do you and your wife bring in though? Net after taxes, 401k contributions, etc.?
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Old 03-30-2015, 03:20 PM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,225,839 times
Reputation: 10428
Quote:
Originally Posted by David Aguilar View Post
I think Denverian's sub $500K comment is a bit of a stretch. I'd go as far to say <$225K, which only gets you into the Ruby Hill's and Westwood's of the world. You should still be able to get into an average or better neighborhood in c/c Denver at $325K.

I think many of you must live extravagant lifestyles. Our monthly out-go is $2500. That's mortgage, utilities, phones, car/life insurance, everything that comes as a "bill". We have three kids.

If we can make it, so can you.
All I pay attention to is central Denver prices lol! I know we could get the same amount of house for cheaper if we moved further out, but we like being near the city and our neighbors. Our mortgage alone is around $2500... and we have quite a bit of equity in the house.
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Old 03-30-2015, 03:21 PM
 
Location: In The Thin Air
12,566 posts, read 10,616,175 times
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Quote:
Originally Posted by denverian View Post
Yes, I believe prices are cheaper the further out you live. If you love L.A. suburbs, you'll love Highlands Ranch. Someone from HR could confirm prices there. But I'm pretty sure you'll still run into bidding wars anywhere in the metro area.
Oh yeah, the bidding wars here are insane. Multiple offers the moment a listing goes up.
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Old 03-30-2015, 03:29 PM
 
Location: Highlands Ranch, CO
556 posts, read 763,105 times
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Quote:
Originally Posted by Timmyy View Post
Oh yeah, the bidding wars here are insane. Multiple offers the moment a listing goes up.
Ah crap. Are houses selling at asking price? Above asking price?
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Old 03-30-2015, 03:48 PM
 
Location: In The Thin Air
12,566 posts, read 10,616,175 times
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Quote:
Originally Posted by guyatwork37 View Post
Ah crap. Are houses selling at asking price? Above asking price?
Above. They are having mini bidding wars.
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Old 03-30-2015, 04:02 PM
 
Location: Denver, CO
897 posts, read 1,252,988 times
Reputation: 1366
Quote:
Originally Posted by guyatwork37 View Post
Ah crap. Are houses selling at asking price? Above asking price?
Above. One house sold for 40k over, but that is very very rare (and idiotic). My friend is currently looking and he is constantly getting outbid all while offering 10-15k over asking.

It also depends on the price. I have a house by me that is going for 450k and isn't worth nearly that much. That house has been on the market for a month already which is crazy in this market.
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Old 03-30-2015, 04:06 PM
 
1,710 posts, read 1,462,983 times
Reputation: 2205
A guy I work with transferred to another office. He was in Frederick, out his house up on Dec 26th, had 5 offers by the 28th all above asking price.
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Old 03-30-2015, 04:10 PM
 
Location: Denver CO
24,202 posts, read 19,206,363 times
Reputation: 38267
Quote:
Originally Posted by ayoitzrimz View Post
Above. One house sold for 40k over, but that is very very rare (and idiotic). My friend is currently looking and he is constantly getting outbid all while offering 10-15k over asking.

It also depends on the price. I have a house by me that is going for 450k and isn't worth nearly that much. That house has been on the market for a month already which is crazy in this market.
So obviously that house is not going for 450k! I think if things are priced correctly they are going very quickly, and sometimes with a bidding war. But even in this market, you can be overpriced. I posted a link in another thread this morning with a house that I think is very overpriced and I'm going to watch it to see what happens. I also am watching a FSBO unit in my old town house complex that is way over priced and has been sitting on the market since September. They obviously don't need to sell, and I suspect this is their "make me move" activity although the house is officially listed. But it's not selling because they are still 10%+ above market. Maybe the market will catch up to them but it hasn't so far.
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