Real Estate Market. Thoughts?

[CS1983]

For an example, I newly refinished 3bed/1 bath unit with washer/dryer hookups at my Lakewood building goes for around $1400/month. Older building built in 1960.


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Wow. for a 3/2, 2 story w/ unfinished basement built 3 years ago HOUSE, we pay 1495 per month in COS.

[Wulf202]

Own or rent?

[CS1983]

Own or rent?

Rent, through a realty company. I'd imagine mortgage would be what... 850-1k, maybe?

[Irving]

Wow. for a 3/2, 2 story w/ unfinished basement built 3 years ago HOUSE, we pay 1495 per month in COS.

Rent, through a realty company. I'd imagine mortgage would be what... 850-1k, maybe?

That's a pretty good rent payment considering what you have. Is it subsidized by government or anything, special deal for enlisted?

My original loan of $155k with mortgage insurance and everything was right around $1,000. I can't imagine the house you living in now being only worth $155K in this market.

[Dave_L]

Colorado springs market is MUCH lower than the Denver metro. You can still find homes at $200k and under there.

http://www.recolorado.com/homes-for-...0906-188731809

http://www.recolorado.com/homes-for-...0911-192793562

[CS1983]

That's a pretty good rent payment considering what you have. Is it subsidized by government or anything, special deal for enlisted?

My original loan of $155k with mortgage insurance and everything was right around $1,000. I can't imagine the house you living in now being only worth $155K in this market.

No special. Just a place we found on Zillow. I'm no longer in the military and given the BAH (housing allowance) there are no special deals anyway (enlistedmen must find housing within the market at or below BAH or else pay difference out of pocket).

House across the street is for sale at 240k, fairly large back yard. Google mortgage calc says 1135/mo for that.

[.455_Hunter]

House across the street is for sale at 240k, fairly large back yard. Google mortgage calc says 1135/mo for that.

That what we bought our house for when we lived in Arvada. The payment with property tax and insurance was just under $1500/month at a higher interest rate.

[CS1983]

Does the house facing north, south, east or west affect price? Our place faces north.

I'd imagine that if we pay 1495 a month, the mortgage is somewhere around 1k or less. Anyone know the profit for realty companies on rentals?

[Dave_L]

Does the house facing north, south, east or west affect price? Our place faces north.

I'd imagine that if we pay 1495 a month, the mortgage is somewhere around 1k or less. Anyone know the profit for realty companies on rentals?

If the house was new 3 years ago and the owner bought it then, the price was probably very cheap back then.

[Aloha_Shooter]

Does the house facing north, south, east or west affect price? Our place faces north.

I'd imagine that if we pay 1495 a month, the mortgage is somewhere around 1k or less. Anyone know the profit for realty companies on rentals?

I've rented out most of my places before I sold them as I was PCSing. The standard property management fee was 10% of the gross rent although I've gotten as low as 7%. Of course, the realty could make more if they buy the property themselves specifically as rentals but they also have to put a lot more money down on a business loan and that ties up capital. I put over 20% down so I could get the best rates when I bought it 12 year ago; I think PITI (Principal, Interest, Taxes, Insurance) for my house are just under $1400 now. Taxes and Insurance have risen by $100 or so in the past 10 years.