Real Estate Market. Thoughts?

[PugnacAutMortem]

Sure. Lots of variables to consider, but Pug said it so "matter-of-factly" that the market will come back down in a year or two. If any of us really knew that for sure, we'd all sell this year.

It's a cyclical type of market for sure and it's been on the upswing for the past 5ish years...another couple years and it stands to reason there will be a downturn. Lots of factors involved, of course, and I didn't mean to come across as Nostradamus. From what I see and hear every day at work and from what we saw when we were selling our place earlier last year, my assumption is in a couple years there will be a downturn.

[Firehaus]

I'm betting things go flatter in 2 years along with the rent increases. I'm very doubtful that the metro area will see a downturn unless something major happens to our local economy.

Millennials are driving a lot of the growth in Denver. Which is why the occupancy on rentals is so low.


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[Great-Kazoo]

Just a thought, ever think about renting your current house? Taking the difference between your current payment and the rent you get, and putting that into a new house?

How does one deal with the meth lab folks?

We NEVER depend on anyone other than our self for providing.
Your renter looses job or has relationship go south. OOPS you don't notice anything till the rent is 5 days late. They say sorry our business didn't issue payroll till monday, not friday as usual. Ok you say. NOW the rent is 10 days late. Your call goes to VM, text unanswered. Have a neighbor look in and they call back saying the front door is wide open, looks like they left in a hurry. Now leaving $5-15K's worth of damage.

[Great-Kazoo]

Our place is down south of Castle Rock, our place has been on the market for 8 months now. We have had a ton of showings but not even one offer. Honestly I don't get it. We fixed the place up perfect, new everything, windows, paint, doors, deck. It is on probably the best location for the front range. I commuted to the tech center in about 35 minutes, and the same down to colorado springs. The seclusion is truly amazing and for someone like me it is heaven for shooting and hunting. I keep hearing that the market is amazing, sure wish it comedown south just a bit more. Heres a link, (sorry I have to keep plugging this every chance I get)

http://www.realtor.com/realestateand...6_M20191-86694

I love to hear everyone that has made a ton of money, but sometimes real estate is frustrating.

Holy crap you haven't sold that place yet? When I saw it I figured it would be gone within a couple days...that is such a freaking sweet property. A place like yours is the next step up for us...in 15-20 years when our kids are out of the house.

When people get over the $4-500K mark. They are very selective / Picky. Most buyers in this area (Front Range) who are dropping $$ usually want those 4K + sq ft homes with short acreage / hobby farm. They want close to everything in a urban setting. Also the $450+ homes are slower movers

[Irving]

$470-$800k is the price range I'm finding them south east of the metro area. Elizabeth and farther out seems to have the best deals.


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Haha. I'll likely never be able to afford that in my life. Thanks for the heads up though.

[mindfold]

How does one deal with the meth lab folks?

We NEVER depend on anyone other than our self for providing.
Your renter looses job or has relationship go south. OOPS you don't notice anything till the rent is 5 days late. They say sorry our business didn't issue payroll till monday, not friday as usual. Ok you say. NOW the rent is 10 days late. Your call goes to VM, text unanswered. Have a neighbor look in and they call back saying the front door is wide open, looks like they left in a hurry. Now leaving $5-15K's worth of damage.

Of course you would need to look into each person you rent to. Treat it like any other business. Background checks, agencies, ect. I have a rental and I have always done well. It is not for everyone. It is an investment and you must measure the risk vs reward.

"We NEVER depend on anyone other than our self for providing." is a falacy. Even if you own your own business, you depend on customers.

And yes, if I had a rental in Greeley I would worry about the meth labs too!

[Dave_L]

The market is hot for sub 400k homes right now. Under $200k in Castle Rock is a baron wasteland. $2-300k has some stuff but not anything I want. $300k-$400k is where you can find nice homes but you're over paying by $50-100k, in my non-professional opinion.

[Wulf202]

Of course you would need to look into each person you rent to. Treat it like any other business. Background checks, agencies, ect. I have a rental and I have always done well. It is not for everyone. It is an investment and you must measure the risk vs reward.

"We NEVER depend on anyone other than our self for providing." is a falacy. Even if you own your own business, you depend on customers.

And yes, if I had a rental in Greeley I would worry about the meth labs too!

I evicted a unc professor after she got into drugs and started whoring from my rental.

The worst tenants my dad ever had was a doctor couple.

Background checks only do so much.

[BushMasterBoy]

I keep searching for bugout land. Stuff that has water, or a mine shaft, or something peculiar that give me a huge advantage. Mini mansions and dense population areas are the last place I want to be.

[Firehaus]

The market is hot for sub 400k homes right now. Under $200k in Castle Rock is a baron wasteland. $2-300k has some stuff but not anything I want. $300k-$400k is where you can find nice homes but you're over paying by $50-100k, in my non-professional opinion.

I agree, but with the Castle Rock population forecasted to double by 2030, I'm guessing it will only keep going up. It's really the rate of going up that is up in the air.




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