Forum Replies Created
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AuthorPosts
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bearishgurl
ParticipantHere is the link, which was syndicated. It’s actually from 11/08. Since the article spans 5 years, one could assume from reading it that the Denver market began to “run up” with toxic mtgs about 11/03. That could have been a little before SD did but I don’t know.
Don’t know if the situation in some of these zips has improved since then. That would be something to check into.
ParticipantHere is the link, which was syndicated. It’s actually from 11/08. Since the article spans 5 years, one could assume from reading it that the Denver market began to “run up” with toxic mtgs about 11/03. That could have been a little before SD did but I don’t know.
Don’t know if the situation in some of these zips has improved since then. That would be something to check into.
ParticipantI just discovered that the link to the April Denver Post article with the Zillow upside-down mortgage map has expired.
I have the map printed out and will try to scan it tonite.
ParticipantI just discovered that the link to the April Denver Post article with the Zillow upside-down mortgage map has expired.
I have the map printed out and will try to scan it tonite.
ParticipantI just discovered that the link to the April Denver Post article with the Zillow upside-down mortgage map has expired.
I have the map printed out and will try to scan it tonite.
ParticipantI just discovered that the link to the April Denver Post article with the Zillow upside-down mortgage map has expired.
I have the map printed out and will try to scan it tonite.
ParticipantI just discovered that the link to the April Denver Post article with the Zillow upside-down mortgage map has expired.
I have the map printed out and will try to scan it tonite.
Participant[quote=Aecetia]I would visit during another season, like winter, to see how you like the weather.[/quote]
evolusd, I agree with Acetia here. I grew up in Alameda County, CA, but went to high school in Denver, CO. Now, I am old and it didn’t have as many freeways or “suburbs” back then but the WEATHER has not changed. I learned to drive a stick shift with studded tires and always carried in the trunk during the winter the following: sandbags & extra tires for weight, rug and shovel, scrapers, broom, lighters, screwdriver, butter knife, tire chains, etc. Even after I could get my block heater off, my car door open, the eng. started/warmed up and all the windows cleaned off, I often spun 360 deg. circles after a snow, even in a heavy veh. with weight in the trunk. This happens to everyone who is not driving a four-wheel drive veh.
ALL YEAR ROUND I had to carry a stash of clothing in the car, as did everyone else I knew. Levis, halter top, down vest, jacket, windbreaker, turtleneck, hiking boots, jean shorts, swimsuit, sunscreen, gloves, moccasins, bandanas, longjohns, flip-flops, etc. From the foothills to the plains to the cornfields to neighorhood a little ways up a mtn, the temp. would commonly change from 30 deg. to 90 deg. and back to 30 deg. in the space of 14 HOURS! I never knew when I might have to duck into a gas station to change clothes. I was also highly allergic to the wind blowing the bark of dogwood trees and flying cotton into my eyes from the cottonwoods and the very arid climate there made my sinuses much worse. It was not until I arrived back in SD in the 70’s and got “Blue Cross” coverage that a great ENT in Hillcrest cured me with “immunotherapy.”
As an adult, I drove back to CO for 20 years in a row to ski and have seen some horrible fatal accidents (and had near misses myself) between semis or oil tankers and passenger vehicles driving in ice and snow and/or “whiteout” conditions.
[quote=evolusd]5. Taxes – property tax is usually under 1%, compounded by the fact that the house costs 50% of what it would here…[/quote]
The grass always looks greener on the other side, evolusd. I don’t know where you’re getting your less than 1% tax rate info, but my siblings and I sold my mom’s residence there after her death many years ago for $125,000 and the taxes on it at the time were $1,555 annually. There is no “Prop. 13-like” provision in CO law. The CO assessors can arbitrarily reassess properties at whim but usually do it by parcel map.
[quote=evolusd]Found numerous 4-5 bedroom homes, 3,000+ sf in the $325k – $375k range within 20 miles of downtown, where I would likely be working.[/quote]
evolusd, are you aware that “20 miles” in low-vis. snowstorm or following a salt truck or plow could take almost two hours?? May I suggest you consider buying in town and drive the surface sts. 2-4 mi. (if your employer offers pkg.) or walk to catch the newer “light rail” (like SD trolley) to downtown and stay OFF the dangerously slick freeways eight mos. year? Even though the prices of this area are comparable with SD, I would highly recommend zips 80209 and 80210 for family-sized (2000+ sf) homes with full basements in which you will be able to recover your purchase price. Due to their solid brick construction with beautiful porches, fireplaces and built-ins, you may get a little more “bang for your buck” than SD. “South HS” and “JFK HS” have always been very good schools and my understanding is that their feeder elem/middle schools are very good as well.
My last two residences there were on S. Logan and S. Clarkson Sts. and I was UTTERLY SHOCKED when I recently discovered online how much improved and “upscale” this entire area is now!
Here is an excerpt of my posting from May 25 in the “Buying a house at the new top of the market?” thread in the “Buying and Selling RE” forum:
[quote=bearishgurl]I wish there was a very telling map for SD Co. like the one I found in this article last night from the Denver Post which shows the percentages of underwater homeowners in each zip.
http://www.denverpost.com/business/ci_11…
The high percentages denote instability and potential further price softness in those affected zips. Because they were properties purchased ONLY in the last five years, this shows that fewer transactions occurred in the more stable zips and those which occurred there were less likely to have been using toxic loans.
Not surprisingly, the Denver City/Co. zips of 80209 (“Wash. Park”) and 80210 (“Bonnie Brae”) are the 3rd and 4th most stable after Arvada West – Foothills (80007) and Coal Creek Cyn – Golden (80403), both in the foothills of Jefferson Co. Why?? Because the two Denver zips are among the most well-located, whose SFR stock consists of mostly larger solid brick bungalows from 60-90 years old, with full basements on ample lots. These two zips obviously have a great deal of high-equity and free-and-clear owners, natural beauty and many *free* amenities as well, hence their (often much) higher asking prices than the avg. for the overall mkt.[/quote]
Please study the map carefully at the bottom of the link provided.
In short, evolusd, the bulk of the Denver metro market is now heavily overbuilt and its owners are deeply underwater with their mortgages, even moreso than SD. You pay for what you get in this life. If I were you, I’d BE SURE if I was buying in one of those far-flung zips you are thinking about commuting from that you buy the property AS CHEAPLY AS POSSIBLE so if you find yourself axed from your new job or you and your family just get homesick and want to move back home, you HAVE THAT CHOICE and are not STUCK in an overmortgaged property or unable to recover your downpayment, like the majority of recent owners there are.
I know my experience living there was 35-40 yrs. ago, but I can’t emphasize it enough, evolusd, that you should STUDY THE MAP at the bottom of the link I provided. It is very eye-opening, to say the least. And bear in mind, it’s a different kind of life there – a lot more work. We bitch a lot here in SD, but our lives are EASY compared to those living in a harsh and unforgiving climate (at the constant mercy of the Rockies).
Agree about Red Rocks Ampitheatre. Your mention of it made me want to see who’s on the schedule this summer and make a road trip – LOL. I saw many an artist there in the early – mid 70’s. RRA and hiking the flatirons bring back a lot of great memories for me 🙂
Participant[quote=Aecetia]I would visit during another season, like winter, to see how you like the weather.[/quote]
evolusd, I agree with Acetia here. I grew up in Alameda County, CA, but went to high school in Denver, CO. Now, I am old and it didn’t have as many freeways or “suburbs” back then but the WEATHER has not changed. I learned to drive a stick shift with studded tires and always carried in the trunk during the winter the following: sandbags & extra tires for weight, rug and shovel, scrapers, broom, lighters, screwdriver, butter knife, tire chains, etc. Even after I could get my block heater off, my car door open, the eng. started/warmed up and all the windows cleaned off, I often spun 360 deg. circles after a snow, even in a heavy veh. with weight in the trunk. This happens to everyone who is not driving a four-wheel drive veh.
ALL YEAR ROUND I had to carry a stash of clothing in the car, as did everyone else I knew. Levis, halter top, down vest, jacket, windbreaker, turtleneck, hiking boots, jean shorts, swimsuit, sunscreen, gloves, moccasins, bandanas, longjohns, flip-flops, etc. From the foothills to the plains to the cornfields to neighorhood a little ways up a mtn, the temp. would commonly change from 30 deg. to 90 deg. and back to 30 deg. in the space of 14 HOURS! I never knew when I might have to duck into a gas station to change clothes. I was also highly allergic to the wind blowing the bark of dogwood trees and flying cotton into my eyes from the cottonwoods and the very arid climate there made my sinuses much worse. It was not until I arrived back in SD in the 70’s and got “Blue Cross” coverage that a great ENT in Hillcrest cured me with “immunotherapy.”
As an adult, I drove back to CO for 20 years in a row to ski and have seen some horrible fatal accidents (and had near misses myself) between semis or oil tankers and passenger vehicles driving in ice and snow and/or “whiteout” conditions.
[quote=evolusd]5. Taxes – property tax is usually under 1%, compounded by the fact that the house costs 50% of what it would here…[/quote]
The grass always looks greener on the other side, evolusd. I don’t know where you’re getting your less than 1% tax rate info, but my siblings and I sold my mom’s residence there after her death many years ago for $125,000 and the taxes on it at the time were $1,555 annually. There is no “Prop. 13-like” provision in CO law. The CO assessors can arbitrarily reassess properties at whim but usually do it by parcel map.
[quote=evolusd]Found numerous 4-5 bedroom homes, 3,000+ sf in the $325k – $375k range within 20 miles of downtown, where I would likely be working.[/quote]
evolusd, are you aware that “20 miles” in low-vis. snowstorm or following a salt truck or plow could take almost two hours?? May I suggest you consider buying in town and drive the surface sts. 2-4 mi. (if your employer offers pkg.) or walk to catch the newer “light rail” (like SD trolley) to downtown and stay OFF the dangerously slick freeways eight mos. year? Even though the prices of this area are comparable with SD, I would highly recommend zips 80209 and 80210 for family-sized (2000+ sf) homes with full basements in which you will be able to recover your purchase price. Due to their solid brick construction with beautiful porches, fireplaces and built-ins, you may get a little more “bang for your buck” than SD. “South HS” and “JFK HS” have always been very good schools and my understanding is that their feeder elem/middle schools are very good as well.
My last two residences there were on S. Logan and S. Clarkson Sts. and I was UTTERLY SHOCKED when I recently discovered online how much improved and “upscale” this entire area is now!
Here is an excerpt of my posting from May 25 in the “Buying a house at the new top of the market?” thread in the “Buying and Selling RE” forum:
[quote=bearishgurl]I wish there was a very telling map for SD Co. like the one I found in this article last night from the Denver Post which shows the percentages of underwater homeowners in each zip.
http://www.denverpost.com/business/ci_11…
The high percentages denote instability and potential further price softness in those affected zips. Because they were properties purchased ONLY in the last five years, this shows that fewer transactions occurred in the more stable zips and those which occurred there were less likely to have been using toxic loans.
Not surprisingly, the Denver City/Co. zips of 80209 (“Wash. Park”) and 80210 (“Bonnie Brae”) are the 3rd and 4th most stable after Arvada West – Foothills (80007) and Coal Creek Cyn – Golden (80403), both in the foothills of Jefferson Co. Why?? Because the two Denver zips are among the most well-located, whose SFR stock consists of mostly larger solid brick bungalows from 60-90 years old, with full basements on ample lots. These two zips obviously have a great deal of high-equity and free-and-clear owners, natural beauty and many *free* amenities as well, hence their (often much) higher asking prices than the avg. for the overall mkt.[/quote]
Please study the map carefully at the bottom of the link provided.
In short, evolusd, the bulk of the Denver metro market is now heavily overbuilt and its owners are deeply underwater with their mortgages, even moreso than SD. You pay for what you get in this life. If I were you, I’d BE SURE if I was buying in one of those far-flung zips you are thinking about commuting from that you buy the property AS CHEAPLY AS POSSIBLE so if you find yourself axed from your new job or you and your family just get homesick and want to move back home, you HAVE THAT CHOICE and are not STUCK in an overmortgaged property or unable to recover your downpayment, like the majority of recent owners there are.
I know my experience living there was 35-40 yrs. ago, but I can’t emphasize it enough, evolusd, that you should STUDY THE MAP at the bottom of the link I provided. It is very eye-opening, to say the least. And bear in mind, it’s a different kind of life there – a lot more work. We bitch a lot here in SD, but our lives are EASY compared to those living in a harsh and unforgiving climate (at the constant mercy of the Rockies).
Agree about Red Rocks Ampitheatre. Your mention of it made me want to see who’s on the schedule this summer and make a road trip – LOL. I saw many an artist there in the early – mid 70’s. RRA and hiking the flatirons bring back a lot of great memories for me 🙂
Participant[quote=Aecetia]I would visit during another season, like winter, to see how you like the weather.[/quote]
evolusd, I agree with Acetia here. I grew up in Alameda County, CA, but went to high school in Denver, CO. Now, I am old and it didn’t have as many freeways or “suburbs” back then but the WEATHER has not changed. I learned to drive a stick shift with studded tires and always carried in the trunk during the winter the following: sandbags & extra tires for weight, rug and shovel, scrapers, broom, lighters, screwdriver, butter knife, tire chains, etc. Even after I could get my block heater off, my car door open, the eng. started/warmed up and all the windows cleaned off, I often spun 360 deg. circles after a snow, even in a heavy veh. with weight in the trunk. This happens to everyone who is not driving a four-wheel drive veh.
ALL YEAR ROUND I had to carry a stash of clothing in the car, as did everyone else I knew. Levis, halter top, down vest, jacket, windbreaker, turtleneck, hiking boots, jean shorts, swimsuit, sunscreen, gloves, moccasins, bandanas, longjohns, flip-flops, etc. From the foothills to the plains to the cornfields to neighorhood a little ways up a mtn, the temp. would commonly change from 30 deg. to 90 deg. and back to 30 deg. in the space of 14 HOURS! I never knew when I might have to duck into a gas station to change clothes. I was also highly allergic to the wind blowing the bark of dogwood trees and flying cotton into my eyes from the cottonwoods and the very arid climate there made my sinuses much worse. It was not until I arrived back in SD in the 70’s and got “Blue Cross” coverage that a great ENT in Hillcrest cured me with “immunotherapy.”
As an adult, I drove back to CO for 20 years in a row to ski and have seen some horrible fatal accidents (and had near misses myself) between semis or oil tankers and passenger vehicles driving in ice and snow and/or “whiteout” conditions.
[quote=evolusd]5. Taxes – property tax is usually under 1%, compounded by the fact that the house costs 50% of what it would here…[/quote]
The grass always looks greener on the other side, evolusd. I don’t know where you’re getting your less than 1% tax rate info, but my siblings and I sold my mom’s residence there after her death many years ago for $125,000 and the taxes on it at the time were $1,555 annually. There is no “Prop. 13-like” provision in CO law. The CO assessors can arbitrarily reassess properties at whim but usually do it by parcel map.
[quote=evolusd]Found numerous 4-5 bedroom homes, 3,000+ sf in the $325k – $375k range within 20 miles of downtown, where I would likely be working.[/quote]
evolusd, are you aware that “20 miles” in low-vis. snowstorm or following a salt truck or plow could take almost two hours?? May I suggest you consider buying in town and drive the surface sts. 2-4 mi. (if your employer offers pkg.) or walk to catch the newer “light rail” (like SD trolley) to downtown and stay OFF the dangerously slick freeways eight mos. year? Even though the prices of this area are comparable with SD, I would highly recommend zips 80209 and 80210 for family-sized (2000+ sf) homes with full basements in which you will be able to recover your purchase price. Due to their solid brick construction with beautiful porches, fireplaces and built-ins, you may get a little more “bang for your buck” than SD. “South HS” and “JFK HS” have always been very good schools and my understanding is that their feeder elem/middle schools are very good as well.
My last two residences there were on S. Logan and S. Clarkson Sts. and I was UTTERLY SHOCKED when I recently discovered online how much improved and “upscale” this entire area is now!
Here is an excerpt of my posting from May 25 in the “Buying a house at the new top of the market?” thread in the “Buying and Selling RE” forum:
[quote=bearishgurl]I wish there was a very telling map for SD Co. like the one I found in this article last night from the Denver Post which shows the percentages of underwater homeowners in each zip.
http://www.denverpost.com/business/ci_11…
The high percentages denote instability and potential further price softness in those affected zips. Because they were properties purchased ONLY in the last five years, this shows that fewer transactions occurred in the more stable zips and those which occurred there were less likely to have been using toxic loans.
Not surprisingly, the Denver City/Co. zips of 80209 (“Wash. Park”) and 80210 (“Bonnie Brae”) are the 3rd and 4th most stable after Arvada West – Foothills (80007) and Coal Creek Cyn – Golden (80403), both in the foothills of Jefferson Co. Why?? Because the two Denver zips are among the most well-located, whose SFR stock consists of mostly larger solid brick bungalows from 60-90 years old, with full basements on ample lots. These two zips obviously have a great deal of high-equity and free-and-clear owners, natural beauty and many *free* amenities as well, hence their (often much) higher asking prices than the avg. for the overall mkt.[/quote]
Please study the map carefully at the bottom of the link provided.
In short, evolusd, the bulk of the Denver metro market is now heavily overbuilt and its owners are deeply underwater with their mortgages, even moreso than SD. You pay for what you get in this life. If I were you, I’d BE SURE if I was buying in one of those far-flung zips you are thinking about commuting from that you buy the property AS CHEAPLY AS POSSIBLE so if you find yourself axed from your new job or you and your family just get homesick and want to move back home, you HAVE THAT CHOICE and are not STUCK in an overmortgaged property or unable to recover your downpayment, like the majority of recent owners there are.
I know my experience living there was 35-40 yrs. ago, but I can’t emphasize it enough, evolusd, that you should STUDY THE MAP at the bottom of the link I provided. It is very eye-opening, to say the least. And bear in mind, it’s a different kind of life there – a lot more work. We bitch a lot here in SD, but our lives are EASY compared to those living in a harsh and unforgiving climate (at the constant mercy of the Rockies).
Agree about Red Rocks Ampitheatre. Your mention of it made me want to see who’s on the schedule this summer and make a road trip – LOL. I saw many an artist there in the early – mid 70’s. RRA and hiking the flatirons bring back a lot of great memories for me 🙂
Participant[quote=Aecetia]I would visit during another season, like winter, to see how you like the weather.[/quote]
evolusd, I agree with Acetia here. I grew up in Alameda County, CA, but went to high school in Denver, CO. Now, I am old and it didn’t have as many freeways or “suburbs” back then but the WEATHER has not changed. I learned to drive a stick shift with studded tires and always carried in the trunk during the winter the following: sandbags & extra tires for weight, rug and shovel, scrapers, broom, lighters, screwdriver, butter knife, tire chains, etc. Even after I could get my block heater off, my car door open, the eng. started/warmed up and all the windows cleaned off, I often spun 360 deg. circles after a snow, even in a heavy veh. with weight in the trunk. This happens to everyone who is not driving a four-wheel drive veh.
ALL YEAR ROUND I had to carry a stash of clothing in the car, as did everyone else I knew. Levis, halter top, down vest, jacket, windbreaker, turtleneck, hiking boots, jean shorts, swimsuit, sunscreen, gloves, moccasins, bandanas, longjohns, flip-flops, etc. From the foothills to the plains to the cornfields to neighorhood a little ways up a mtn, the temp. would commonly change from 30 deg. to 90 deg. and back to 30 deg. in the space of 14 HOURS! I never knew when I might have to duck into a gas station to change clothes. I was also highly allergic to the wind blowing the bark of dogwood trees and flying cotton into my eyes from the cottonwoods and the very arid climate there made my sinuses much worse. It was not until I arrived back in SD in the 70’s and got “Blue Cross” coverage that a great ENT in Hillcrest cured me with “immunotherapy.”
As an adult, I drove back to CO for 20 years in a row to ski and have seen some horrible fatal accidents (and had near misses myself) between semis or oil tankers and passenger vehicles driving in ice and snow and/or “whiteout” conditions.
[quote=evolusd]5. Taxes – property tax is usually under 1%, compounded by the fact that the house costs 50% of what it would here…[/quote]
The grass always looks greener on the other side, evolusd. I don’t know where you’re getting your less than 1% tax rate info, but my siblings and I sold my mom’s residence there after her death many years ago for $125,000 and the taxes on it at the time were $1,555 annually. There is no “Prop. 13-like” provision in CO law. The CO assessors can arbitrarily reassess properties at whim but usually do it by parcel map.
[quote=evolusd]Found numerous 4-5 bedroom homes, 3,000+ sf in the $325k – $375k range within 20 miles of downtown, where I would likely be working.[/quote]
evolusd, are you aware that “20 miles” in low-vis. snowstorm or following a salt truck or plow could take almost two hours?? May I suggest you consider buying in town and drive the surface sts. 2-4 mi. (if your employer offers pkg.) or walk to catch the newer “light rail” (like SD trolley) to downtown and stay OFF the dangerously slick freeways eight mos. year? Even though the prices of this area are comparable with SD, I would highly recommend zips 80209 and 80210 for family-sized (2000+ sf) homes with full basements in which you will be able to recover your purchase price. Due to their solid brick construction with beautiful porches, fireplaces and built-ins, you may get a little more “bang for your buck” than SD. “South HS” and “JFK HS” have always been very good schools and my understanding is that their feeder elem/middle schools are very good as well.
My last two residences there were on S. Logan and S. Clarkson Sts. and I was UTTERLY SHOCKED when I recently discovered online how much improved and “upscale” this entire area is now!
Here is an excerpt of my posting from May 25 in the “Buying a house at the new top of the market?” thread in the “Buying and Selling RE” forum:
[quote=bearishgurl]I wish there was a very telling map for SD Co. like the one I found in this article last night from the Denver Post which shows the percentages of underwater homeowners in each zip.
http://www.denverpost.com/business/ci_11…
The high percentages denote instability and potential further price softness in those affected zips. Because they were properties purchased ONLY in the last five years, this shows that fewer transactions occurred in the more stable zips and those which occurred there were less likely to have been using toxic loans.
Not surprisingly, the Denver City/Co. zips of 80209 (“Wash. Park”) and 80210 (“Bonnie Brae”) are the 3rd and 4th most stable after Arvada West – Foothills (80007) and Coal Creek Cyn – Golden (80403), both in the foothills of Jefferson Co. Why?? Because the two Denver zips are among the most well-located, whose SFR stock consists of mostly larger solid brick bungalows from 60-90 years old, with full basements on ample lots. These two zips obviously have a great deal of high-equity and free-and-clear owners, natural beauty and many *free* amenities as well, hence their (often much) higher asking prices than the avg. for the overall mkt.[/quote]
Please study the map carefully at the bottom of the link provided.
In short, evolusd, the bulk of the Denver metro market is now heavily overbuilt and its owners are deeply underwater with their mortgages, even moreso than SD. You pay for what you get in this life. If I were you, I’d BE SURE if I was buying in one of those far-flung zips you are thinking about commuting from that you buy the property AS CHEAPLY AS POSSIBLE so if you find yourself axed from your new job or you and your family just get homesick and want to move back home, you HAVE THAT CHOICE and are not STUCK in an overmortgaged property or unable to recover your downpayment, like the majority of recent owners there are.
I know my experience living there was 35-40 yrs. ago, but I can’t emphasize it enough, evolusd, that you should STUDY THE MAP at the bottom of the link I provided. It is very eye-opening, to say the least. And bear in mind, it’s a different kind of life there – a lot more work. We bitch a lot here in SD, but our lives are EASY compared to those living in a harsh and unforgiving climate (at the constant mercy of the Rockies).
Agree about Red Rocks Ampitheatre. Your mention of it made me want to see who’s on the schedule this summer and make a road trip – LOL. I saw many an artist there in the early – mid 70’s. RRA and hiking the flatirons bring back a lot of great memories for me 🙂
Participant[quote=Aecetia]I would visit during another season, like winter, to see how you like the weather.[/quote]
evolusd, I agree with Acetia here. I grew up in Alameda County, CA, but went to high school in Denver, CO. Now, I am old and it didn’t have as many freeways or “suburbs” back then but the WEATHER has not changed. I learned to drive a stick shift with studded tires and always carried in the trunk during the winter the following: sandbags & extra tires for weight, rug and shovel, scrapers, broom, lighters, screwdriver, butter knife, tire chains, etc. Even after I could get my block heater off, my car door open, the eng. started/warmed up and all the windows cleaned off, I often spun 360 deg. circles after a snow, even in a heavy veh. with weight in the trunk. This happens to everyone who is not driving a four-wheel drive veh.
ALL YEAR ROUND I had to carry a stash of clothing in the car, as did everyone else I knew. Levis, halter top, down vest, jacket, windbreaker, turtleneck, hiking boots, jean shorts, swimsuit, sunscreen, gloves, moccasins, bandanas, longjohns, flip-flops, etc. From the foothills to the plains to the cornfields to neighorhood a little ways up a mtn, the temp. would commonly change from 30 deg. to 90 deg. and back to 30 deg. in the space of 14 HOURS! I never knew when I might have to duck into a gas station to change clothes. I was also highly allergic to the wind blowing the bark of dogwood trees and flying cotton into my eyes from the cottonwoods and the very arid climate there made my sinuses much worse. It was not until I arrived back in SD in the 70’s and got “Blue Cross” coverage that a great ENT in Hillcrest cured me with “immunotherapy.”
As an adult, I drove back to CO for 20 years in a row to ski and have seen some horrible fatal accidents (and had near misses myself) between semis or oil tankers and passenger vehicles driving in ice and snow and/or “whiteout” conditions.
[quote=evolusd]5. Taxes – property tax is usually under 1%, compounded by the fact that the house costs 50% of what it would here…[/quote]
The grass always looks greener on the other side, evolusd. I don’t know where you’re getting your less than 1% tax rate info, but my siblings and I sold my mom’s residence there after her death many years ago for $125,000 and the taxes on it at the time were $1,555 annually. There is no “Prop. 13-like” provision in CO law. The CO assessors can arbitrarily reassess properties at whim but usually do it by parcel map.
[quote=evolusd]Found numerous 4-5 bedroom homes, 3,000+ sf in the $325k – $375k range within 20 miles of downtown, where I would likely be working.[/quote]
evolusd, are you aware that “20 miles” in low-vis. snowstorm or following a salt truck or plow could take almost two hours?? May I suggest you consider buying in town and drive the surface sts. 2-4 mi. (if your employer offers pkg.) or walk to catch the newer “light rail” (like SD trolley) to downtown and stay OFF the dangerously slick freeways eight mos. year? Even though the prices of this area are comparable with SD, I would highly recommend zips 80209 and 80210 for family-sized (2000+ sf) homes with full basements in which you will be able to recover your purchase price. Due to their solid brick construction with beautiful porches, fireplaces and built-ins, you may get a little more “bang for your buck” than SD. “South HS” and “JFK HS” have always been very good schools and my understanding is that their feeder elem/middle schools are very good as well.
My last two residences there were on S. Logan and S. Clarkson Sts. and I was UTTERLY SHOCKED when I recently discovered online how much improved and “upscale” this entire area is now!
Here is an excerpt of my posting from May 25 in the “Buying a house at the new top of the market?” thread in the “Buying and Selling RE” forum:
[quote=bearishgurl]I wish there was a very telling map for SD Co. like the one I found in this article last night from the Denver Post which shows the percentages of underwater homeowners in each zip.
http://www.denverpost.com/business/ci_11…
The high percentages denote instability and potential further price softness in those affected zips. Because they were properties purchased ONLY in the last five years, this shows that fewer transactions occurred in the more stable zips and those which occurred there were less likely to have been using toxic loans.
Not surprisingly, the Denver City/Co. zips of 80209 (“Wash. Park”) and 80210 (“Bonnie Brae”) are the 3rd and 4th most stable after Arvada West – Foothills (80007) and Coal Creek Cyn – Golden (80403), both in the foothills of Jefferson Co. Why?? Because the two Denver zips are among the most well-located, whose SFR stock consists of mostly larger solid brick bungalows from 60-90 years old, with full basements on ample lots. These two zips obviously have a great deal of high-equity and free-and-clear owners, natural beauty and many *free* amenities as well, hence their (often much) higher asking prices than the avg. for the overall mkt.[/quote]
Please study the map carefully at the bottom of the link provided.
In short, evolusd, the bulk of the Denver metro market is now heavily overbuilt and its owners are deeply underwater with their mortgages, even moreso than SD. You pay for what you get in this life. If I were you, I’d BE SURE if I was buying in one of those far-flung zips you are thinking about commuting from that you buy the property AS CHEAPLY AS POSSIBLE so if you find yourself axed from your new job or you and your family just get homesick and want to move back home, you HAVE THAT CHOICE and are not STUCK in an overmortgaged property or unable to recover your downpayment, like the majority of recent owners there are.
I know my experience living there was 35-40 yrs. ago, but I can’t emphasize it enough, evolusd, that you should STUDY THE MAP at the bottom of the link I provided. It is very eye-opening, to say the least. And bear in mind, it’s a different kind of life there – a lot more work. We bitch a lot here in SD, but our lives are EASY compared to those living in a harsh and unforgiving climate (at the constant mercy of the Rockies).
Agree about Red Rocks Ampitheatre. Your mention of it made me want to see who’s on the schedule this summer and make a road trip – LOL. I saw many an artist there in the early – mid 70’s. RRA and hiking the flatirons bring back a lot of great memories for me 🙂
Participant[quote=bearishgurl]I would also think you would have less vacancies with an SFR (all depending on where it was located, of course).[/quote]
Yes, temeculaguy, I totally agree that the rent multiplier is the bottom line when in comes to rentals. However, location is absolutely everything when it comes to the quality of tenant you will attract. It’s hard to get both (location and rent multiplier) in the same property. I believe tenants can and do sneak a large dog in a condo with a ground floor door which leads to a private, fenced patio area. Then you have the poor animal stuck in the unit or pacing the patio and scratching the fence all day while the tenant is at work as opposed to roaming a fenced backyard. Small older homes (that would compare with a condo “rent multiplier”) as a rule have more generous backyards than construction built in the 80’s and after.
Being the “control freak” that I am, though, I would have an issue with giving an Assn. nearly $3K a year, when I could put $$ that into my own property. The Assn. could also fine the owner for his/her tenant’s CC&R violations. And HOA hikes and special assessments can be unpredictable and eat into a landlord’s operating costs.
Sorry about telling jimmyle he should use a “Sched. C” to list expenses and depreciation of his (future) rental. I’m one of those folks who give my taxes to a “Hatfield” to do every year and just sign the return 😉
Since jimmyle does not yet own a principal residence for himself and desires one, I think he should figure out what kind of property he can get for himself after he uses part of his credit allotment to purchase a rental condo. This will tell him whether a rental condo purchase is feasible at this time.
Participant[quote=bearishgurl]I would also think you would have less vacancies with an SFR (all depending on where it was located, of course).[/quote]
Yes, temeculaguy, I totally agree that the rent multiplier is the bottom line when in comes to rentals. However, location is absolutely everything when it comes to the quality of tenant you will attract. It’s hard to get both (location and rent multiplier) in the same property. I believe tenants can and do sneak a large dog in a condo with a ground floor door which leads to a private, fenced patio area. Then you have the poor animal stuck in the unit or pacing the patio and scratching the fence all day while the tenant is at work as opposed to roaming a fenced backyard. Small older homes (that would compare with a condo “rent multiplier”) as a rule have more generous backyards than construction built in the 80’s and after.
Being the “control freak” that I am, though, I would have an issue with giving an Assn. nearly $3K a year, when I could put $$ that into my own property. The Assn. could also fine the owner for his/her tenant’s CC&R violations. And HOA hikes and special assessments can be unpredictable and eat into a landlord’s operating costs.
Sorry about telling jimmyle he should use a “Sched. C” to list expenses and depreciation of his (future) rental. I’m one of those folks who give my taxes to a “Hatfield” to do every year and just sign the return 😉
Since jimmyle does not yet own a principal residence for himself and desires one, I think he should figure out what kind of property he can get for himself after he uses part of his credit allotment to purchase a rental condo. This will tell him whether a rental condo purchase is feasible at this time.
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