Real Estate Market. Thoughts?

[HoneyBadger]

You mad Bro ?

Could be worse. You could be in the bay area. There rent / housing has 5 digits.

Truth.

[Aloha_Shooter]

I suspect the area HoneyBadger will be in will be fairly stable just because of the limited availability and continued presence of a major AFB but there is no way I believe Denver housings were comparable in price with LA circa 1999 (or any other time). I knew far too many people PCSing to LA around that timeframe and the baths they took with trying to get off-base housing. I also believe CA is already in a housing bubble; if I were going there now, I'd rent rather than buy and I'd be renting out my Colorado home to pay off the mortgage and get my homeowner tax deduction (but I won't be going there -- I've already told my employer that my pets and my guns are illegal in CA so there's nothing that would induce me to go there).

[MrPrena]

I suspect the area HoneyBadger will be in will be fairly stable just because of the limited availability and continued presence of a major AFB but there is no way I believe Denver housings were comparable in price with LA circa 1999 (or any other time). I knew far too many people PCSing to LA around that timeframe and the baths they took with trying to get off-base housing. I also believe CA is already in a housing bubble; if I were going there now, I'd rent rather than buy and I'd be renting out my Colorado home to pay off the mortgage and get my homeowner tax deduction (but I won't be going there -- I've already told my employer that my pets and my guns are illegal in CA so there's nothing that would induce me to go there).

Depends on which LA and surrounding area it is. Santa Monica, Westwood, Beverly hills, NO
Crappy places like Carson, Fullerton, Torrance area might be more suitable pricing relative to Denver metro at that time.

[ChunkyMonkey]

Things are out of control here. We've touched on it in some other threads but no dedicated thread. What are your thoughts on the real estate market? It has to pop again at some point, right? Is Colorado insulated enough based on the masses of people seemingly flocking here? So many people are selling and taking the crazy equity while they can it makes me wonder on what to do.

Do you see an end to it? Would you sell and take what you can now and roll it over to a different home if you could find one with some nice upgrades you wanted, even if you don't need them yet? Try to wait a little longer and let it grow even more?

How do you see the Colorado real estate market, current and future?

I am telling everyone to slow down and take their time to buy. If you are a seller, sell now. This mini bubble won't last long. The numbers just don't add up. We are doing 5-7 purchases a month but pushing dozens more to wait if they can.


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[Madeinhb]

I'll be right in between LA and SF.

Just the thought of all those Californians just makes me want to

Not all of us are bad haha

[Irving]

I am telling everyone to slow down and take their time to buy. If you are a seller, sell now. This mini bubble won't last long. The numbers just don't add up. We are doing 5-7 purchases a month but pushing dozens more to wait if they can.


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What's your predicted time frame for this mini bubble? I think it is reasonable for me to remodel my bathrooms and compete done other updating projects to get our place up to the comps in my neighborhood, but will a year be enough time? I just refinanced and the comps the bank was quoting for our neighborhood were ridiculous. I wouldn't pay what they said my place is worth. But I'd gladly sell and move future out to some fixer upper or foreclosure on some land.

[ChunkyMonkey]

In my opinion, we have 50% chance of flat market late summer 2015 with the expected interest raise. We are strictly talking about Denver metro market. El Paso, western slope are not seeing the kind of spike we are seeing here.

On the other hand there is a smaller chance that the market will continue its climbing due to the large influx of investors money into the metro area.

Hard money guys are back. But they are very market specific. Generally, Commercial property vacancy stays the same at best case.


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[DFBrews]

What's your predicted time frame for this mini bubble? I think it is reasonable for me to remodel my bathrooms and compete done other updating projects to get our place up to the comps in my neighborhood, but will a year be enough time? I just refinanced and the comps the bank was quoting for our neighborhood were ridiculous. I wouldn't pay what they said my place is worth. But I'd gladly sell and move future out to some fixer upper or foreclosure on some land.

curious to this as well

[Firehaus]

Generally, Commercial property vacancy stays the same at best case.


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Denver just rated #1 for commercial

http://www.bizjournals.com/denver/bl...rket-in-u.html

Also, just read a report where Denver was at 4.9 jobs per unit in multifamily.


I was told last summer that a lot of rental houses scooped up in packages during the crash by major companies will be slowly trickling into the market this year. They bought them around $200k and now they are around $400k. So once that happens it will slow the upward pressure on metro home prices. Something like 20,000 rental homes was the number.



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[ChunkyMonkey]

Denver just rated #1 for commercial

http://www.bizjournals.com/denver/bl...rket-in-u.html

Also, just read a report where Denver was at 4.9 jobs per unit in multifamily.


I was told last summer that a lot of rental houses scooped up in packages during the crash by major companies will be slowly trickling into the market this year. They bought them around $200k and now they are around $400k. So once that happens it will slow the upward pressure on metro home prices. Something like 20,000 rental homes was the number.



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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.


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