Real Estate Market. Thoughts?

[Irving]

We sold our apartment 4th quarter last year and have money that we're not sure what we want to do with yet.

[Great-Kazoo]

We sold our apartment 4th quarter last year and have money that we're not sure what we want to do with yet.

Save it for a rainy day. Trust me, there's a storm a comin. BUT be prepared to yank it out of banks / investments before everyone else starts. I'm not an investor, have a portfolio ,or play one on radio. However we've seen this before and the end of the story wasn't a happy one.

[Firehaus]

We sold our apartment 4th quarter last year and have money that we're not sure what we want to do with yet.

You didn't 1031 into something else? I won't be selling unless I have a clear path to move into another property.


Sent from my iPhone

[Firehaus]

The new builds what keep the vacancy rate staying at the same level. Like I said the numbers don't add up.

In addition to your comment, yes, many landlords are dumping their portfolio slowly. I am one of them.


Sent from my iPhone using Tapatalk

The 4.9 jobs per unit was presented as a speculation that lending would tighten for new apartment builds in 2015.

West metro ended last year with a 3.2% vacancy rate and rents are still forecasted to increase another 12% like last year.

I was told that the 20,000 homes were held by maybe just few large entities.




Sent from my iPhone

[Gman]

Don't want to sell high and then turn around and buy high. Looking forward to the wife selling her rental. We'll probably continue to put money into the primary residence to up our resale value at some point in the not-to-distant future.

[Irving]

You didn't 1031 into something else? I won't be selling unless I have a clear path to move into another property.


Sent from my iPhone

I don't remember why this was not an issue for us. I'll have to ask.

[rockhound]

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


The issue you have in Castle Rock are is the extreme amount of new housing being built. You can't sell an existing home inCastle Rock right now. Everyone coming in wants a new home. I had a client that started out in Bailey and we swound up in Castle Rock, they bought an existing home because they are sofisticated enough to understand the value they received. Thenew homes are appealing, but the existing home in Castle Rock right now is a better value, all the extras that are not included in a new home purchase have already been done.

It just takes finding the right buyer who can see the value in already having landscaping etc., but if you are thinking you are going to get new home pricing for your existing home your are incorrect. You will need to be a better value and that means less money.



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

[rockhound]

Pricing is definitely up, the rental market is crazy tight right now. Unless you have the kind of equity in your home that makes sense to sell now you are cutting your own throat to sell and go find something else.

Pricing at the moment for a listing agent is what I call spaghetti real estate, throw it at the wall and see if it sticks. All we can do on a buyer's agent side is make sure that the home is in good shape and that the buyer does not over pay compared to the other recent sales in the neighborhood. Anyone in the business that guarantees you 2-3 years from now the home will be worth what you paid for it today is just making wind. The volatility in todays market makes it impossible to honestly make that statement.

I am even in the decision making process over my own home right now. Three years ago I bought a 3600 sf foreclosure on four acres with a view for 1/2 the going rate in my neighborhood. I dumped 80K cash into renovations (just materials, i am a former contractor), and built a huge shop/garage, I am sitting easily right now on 160-180K in equity if i were to sell. But then what? To replace this house right now would run me $500K or more. Even if i take my equity and put it all down on the next home I will add an extra $130K onto my mortgage. Combine that with the interest on that bigger mortgage and I am not getting ahead at all.

So at what point do you have enough equity to make it make sense?

The market in the mountains is even tighter than in town right now. We have almost nothing to sell. What used to be Mountain Park East in the MLS, basically Kenosha pass to Pine Junction on the Park County side carries at any one time 120-180 homes for sale over the last 6 years. Currently we have 37. 10 that are not worth owning and 10 that are over priced leaving about 17 to choose from.....

I showed a home in my own neighborhood the other morning. While my buyer and I were there for an hour the home was shown by three other brokers in the same time frame.

With the rentals rates going through the roof and the replacement for your home being more than it may be worth I am not convinced it is the time to sell and move. The ones who are making out in this market are the people who are selling and moving to a less expensive market.

[HoneyBadger]

The ones who are making out in this market are the people who are selling and moving to a less expensive market.

Bingo!

[Great-Kazoo]

The ones who are making out in this market are the people who are selling and moving to a less expensive market.

That's us to a T. We have lot's of equity. However buying what we want within our means, says we have to look in areas other than urban. Again what we would like. We could sell NOW, being patient may give us more down the road, due mostly to equity.