Real Estate Market. Thoughts?

[Dave_L]

That's exactly what we did. Sold our house that gained $60k in equity inside of 3 years, paid off tons of debt and put a down payment down on a house that was twice the size in a very new neighborhood that only has anywhere to go but up in value. It was totally worth it for someone in our situation, but YMMV.

That's where we pretty much are. Seeing comparables sell for 60k+ over what we paid and we have nicer upgrades/better lot. Hard part if finding a house that fits all my criteria (within budget). New is a decent option but that moves us out of our area that we like so much.

[Firehaus]

greeley is over 30% increases and 0.9% vacancy rate.

A house on my block sold for 32k two years ago is listed for over 100k. They did maybe 20k of improvements.

Did not realize Greeley was so hot!

.9% vacancy rate should mean new apartment complexes being built. Are you seeing any under construction?


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[Irving]

There are still foreclosures and short sales going in houses with land outside the metro area. Good deals ( compared to the metro area) if you want to drive.


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This is exactly what I want.

[Wulf202]

Did not realize Greeley was so hot!

.9% vacancy rate should mean new apartment complexes being built. Are you seeing any under construction?


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theres 400 new units in the last 12 months. Atleast 3 hotels in terrible locations being built. 5 more properties that I know of being built.

[Firehaus]

This is exactly what I want.

$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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[RCCrawler]

I scored when I bought my house, looked for a long time and picked up a killer deal on a model home that was a short sale.

The house I bought is the largest model in the neighborhood, with all upgrades and a fully finished basement. I bought it four years ago for 36% less than the previous owner OWED on it and 41% less than they paid for it. Less than a month after I bought it the neighbors house (smaller, with an unfinished basement) went up for sale, and sold the first day for 32% more than I paid for my house. Looking at comparables I'd guess now that I would have no issue selling for 50% more than I paid.

It's awful tempting to want to cash out and go find something better with some land like we originally wanted, but we'd be paying an inflated price for that anyway. We love the house, the area is great, the kids have tons of friends here so we'll be here for a while. It is nice knowing though that even if the bubble does pop, we should still be good.

[PugnacAutMortem]

It seems like the best way to go about it (if you can stomach it) is to sell the current house you're in and cash out on the equity and find a nice rental you can stomach for a year or two. Wait until the market comes back down to earth and then use the proceeds for the new place/land. I personally hate the idea of renting a house or apartment, but that's really the only way you are going to sell high/buy low in the same market.

[SamuraiCO]

Values going up because of supply and demand. Not much of a bubble but will slow down if interest rates go up. I was pleased to refinance a couple of years ago. Am waiting patiently to find some land or small home on land in the near future.

[stenz]

I just sold my home in north Thornton. We bought it in 11/11 for $208,000. I sold it last week for $297,000.

I know I paid more for my new house but I made crazy money on my old house and was able to get into something bigger and nicer.

[Aloha_Shooter]

The Obama Administration is already trying to replicate the same dumb-ass moves from the Clinton Administration that created the 2007 bubble in the first place. I will invest in land or other tangibles that can't just be created out of thin air but I'm not going to stick my neck out financing more house than I could afford if I was furloughed for 6 months or my pay was cut by 50%.