Denver Real Estate Suggestion (Colorado Springs, Aurora: for sale, real estate market, 2015)

[american_dream_82]

Some of the discussions in the forum has been very informative -- hence seeking advise

Am looking for smaller Single Family home in lower 300s.

Have 2 LO -- to be in Elementary school in 2 years and 4 years respectively.

The following are my requirements:
1) Good Elementary and Middle Public School
2) Family friendly neighbourhood

I was mainly looking at Zip codes 80015 and 80016 (Centennial , Southeast Aurora ) as I had liked the area South of Smoky Hill Road

Daily commute is not a concern as I mainly work from home, however staying within 75 minutes drive from airport would be desirable

We are currently paying $1400 rent for a very good 2b 2ba

Prices in Centennial/South Aurora is crazy now and I hardly see homes in 400s (forget about 300s).

Are there other areas ( anywhere around Denver -- North -South - East - West ) which would meet my home search criteria ?

Lastly - am in a dilemna, should I wait for 2 more years in hope for prices to cool off slightly -- or would they go out of reach further ? (have 2 years for Elementary school -- hence can wait while saving more money for downpayment )

[2bindenver]

There are no signs of the real estate market cooling off. If you can get in the game now before prices are 12% more next year (based on appreciation from 2014-2015)

There are a lot of programs for buyers to help with down payment & closings costs.

Real estate is a game. If you are going to play, play by the rules, but play to win.

[ayoitzrimz]

I'm not nearly as optimistic as 2bindenver but IMO timing the market is a recipe for failure. Who knows, the market can start to turn in 3 months or it can keep rising for 5 years. When people ask me personally what they should do , and I am in no way an expert - just a regular guy - I say buy a house when you are ready to buy a house and buy a house you can comfortably afford - let the speculators and so-called experts makE their predictions. We never stretch ourselves and stay below our means but we don't try to time the market - we play the long game (10+ years) when we buy a house and we buy a house we want to live in and make our own.

[davebarnes]

80005 - Arvada and unincorporated JeffCo
Many good elementary schools
If you buy in Ralston Valley High School catchment, then you should be OK for the next 16 years

Prices are only going up in the next few years.
There is no inventory.
See //www.city-data.com/forum/denve...-charts-8.html

[Augie Daugie]

Originally Posted by american_dream_82

Prices in Centennial/South Aurora is crazy now and I hardly see homes in 400s (forget about 300s).

There are quite a few homes in the 300s at this price point...relative to the rest of the metro area. The big issue is lack of inventory and how quickly everything is selling. One day it's on the market, the next day it's under contract.

Some other areas to think about...Littleton, Arvada, maybe North Thornton...

[katharsis]

I second Littleton, although it is hard to find a good home there now for less than $350k. Imo, this area is much better than Thornton and slightly better than Arvada.

At the risk of stating the obvious, I would suggest you do a basic home search for Denver, Arvada, Littleton, etc. with the criteria being "Single Family Homes" "Under $400,000" to see what is out there, and then check City Data for each "finalist" for crime rate, schools, and whatever else is important to you.

[Greentea323]

I would expand your search to the entire DMA, and when you see a house with decent schools - pounce.

If you work from home though, and only need to be 75 minutes away from DIA, why not look at N. Colorado Springs? Like the Briargate area. Our budget is about the same, and DH can wah, so that's what we've decided to do. (Though I liked some less popular areas better)

Or what about Loveland? There's some nice areas there as well.

I'm not sure what exactly you mean by low $300,000s, but there were a couple decent older homes (by older I mean early 1990s) I'm the 80129 district of Highlands Ranch a couple weeks ago around $325,000 and in the little flyer Jeffco sent out, the cheapest home was $308,000 last month in Green Mountain, although it was tiny & old.

What about townhomes in the $200,000s...I think Ryland is building some near Parker Rd. & Chambers, but I couldn't see how much they were. Have you looked at the Iliff Commons? I think those are near your budget, new, and have their own k-8 schools which are decently rated.

There's also Highpoint on the other side of GVR, technically in Aurora, but has their own charter school.

[Gorges]

I was mainly looking at Zip codes 80015 and 80016 (Centennial , Southeast Aurora ) as I had liked the area South of Smoky Hill Road

OP, in South Aurora there is a section of The Farm neighborhood just south of Orchard and in between Tower and Waco, that has smaller and cheaper homes, often in the low-to mid-300's. It's surrounded by more expensive homes and feeds into some of the highest ranked schools in 80016 (Fox Hollow ES, Liberty MS and Grandview HS). I don't see anything for sale now, but it's something to keep in mind since you like that area. There are quite a few homes in there.

[calien]

Interested in a safe, family friendly community near a rail line or closer to the airport for more of a weekend type 2nd home - thoughts? A 2-1 with a garage would be fine.

[2bindenver]

There are lots of weekend getaways type condos near downtown, lodo or ballpark neighborhoods. The rail line to DIA opens April 22. If you are looking for cheaper - Aurora along I-225 would do in a pinch, there are a ton of condo & townhomes there.

See RTD