Denver Real Estate Discussion / Opinion Thread (NO Data Charts) (rental market, mortgages)

[denverian]

Originally Posted by Seeker5in1

Gays and potheads should do wonders for the housing market.

"Gays" do wonders for the housing market. We keep our houses up, have nice lawns, and bring up the property value of the neighborhood.

As for the "potheads", I won't get into generalizing.

[denverian]

Originally Posted by Bideshi

Same here, but there'll be liberals flocking in from all over with the new smokey blue tint to the state to more than make up for our reluctance.

By all means, steer the liberals to Denver

[denverian]

Originally Posted by zenkonami

I smell a bubble.

Actually I'm kind of hoping for one.

Not doom and gloom...just tired of living in places and being priced out of reasonable houses by speculators and people that believe their house is supposed to be a future cash cow. I think it's okay for a house to appreciate...but to rely on that really irks me.

If you find yourself in one of these crazy bubbles, the only way to win is to sell and move to a cheaper market. That's what I did... coming from California to Denver in 2005.

[davebarnes]

Originally Posted by denverian

Ithe only way to win is to sell and move to a cheaper market.

Have you lined your move to Rockford Real Estate & Rockford IL Homes for Sale - Zillow so you can do it again?

[denverian]

Originally Posted by davebarnes

Have you lined your move to Rockford Real Estate & Rockford IL Homes for Sale - Zillow so you can do it again?

Hey, I could move there and pay cash! Win again! Well, except that I'd have to live in Rockford IL

Makes me wonder how houses could be so cheap. You'd think that if you sold one of those houses a piece at a time, they'd be worth more than their asking price.

[Willy702]

Originally Posted by denverian

Hey, I could move there and pay cash! Win again! Well, except that I'd have to live in Rockford IL

Makes me wonder how houses could be so cheap. You'd think that if you sold one of those houses a piece at a time, they'd be worth more than their asking price.

Two years ago you could have moved into a nice new or newer home in Vegas or Phoenix for about the same price. Not quite as much square footage, but lots of properties were going for $60-65 sf with almost no competition. Fast forward to today where the same houses are selling for $100-110 sf and you have to beat out 20 bidders and make an all-cash offer to get it. I don't think Rockford will ever get that crazy, but a lot of people could have done the cash out and buy a house free and clear but didn't because they thought things could get even cheaper.

[CatPeople]

Originally Posted by denverian

Hey, I could move there and pay cash! Win again! Well, except that I'd have to live in Rockford IL

Makes me wonder how houses could be so cheap. You'd think that if you sold one of those houses a piece at a time, they'd be worth more than their asking price.

Check out the C-D posts for Rockford, IL. You get what you pay for.

Rockford IL good or bad

"Rockford made the Forbes list of ninth most dangerous city for it's size. And after living here for a few years and being carjacked at gunpoint, I would have to say this is not a safe city."

"What a place, lady took a bullet attending a graduation party last weekend. If you like the ghetto and combat environment then Rockford is the place for you."

[Calix]

When real estate prices soar, we all lose, its just an illusion if wealth, through higher debt and capital maladjustment. I've owned my home for 20 years and "made a lot of money on paper" and would have been be happy with 1-2% increase or even flat. These ridiculous jumps of >4% are unsustainable and create economic turmoil. Real Estate is a non productive asset class,No real wealth is created in the economy through RE price increases, it just pulls money from other sectors of the economy to finance and sustin it.

Think about this, if real estate prices go up, say double over the 7-10 years you own a home, you are never ahead unless you sell and move to a cheaper location. Otherwise that "move up home" is also likely double in the same community.

Example, you buy a 200K home, its now 400K
The move up home you wanted was 300K, now its 600K.

Your new home still puts you 200K BEHIND where you were to egin with. If you had purchased the more expensive home originally, it would have been 100K of extra debt, now its 200K. Double the debt.

Parentss and grandparents watch their kids and grandkids move away because they can no longer afford to be near them. Younger families moving away. Sad.

And the worse part of it, yu aren't any richer unless you cash out and move away yourself. Inflation creates the illusion of wealth with the shadow poverty in its midst.

[Seeker5in1]

Originally Posted by Calix

When real estate prices soar, we all lose...
And the worse part of it, yu aren't any richer unless you cash out and move away yourself. Inflation creates the illusion of wealth with the shadow poverty in its midst.

Yes, and the government wants higher prices for higher taxes.

[denverian]

Originally Posted by davebarnes

Home permits up 54.45% in 1st quarter | Inside Real Estate News



there is more

Stapleton is on fire right now. According to one of the builders, they keep increasing prices by about $2K each month. I know anything resale gets offers in a matter of days, if not hours.