Anyone selling in Colorado?

gmp3February 22, 2011

We are in a suburb south of Denver and are wondering how the market is. We would like to downsize and have looked at a few properties over the last month just to see if it is feasible, and a few of them sold, so there is some movement at the lower price point.

The realtors we have spoken to say things are picking up, but I don't know if they are just being optomistic.

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earthworm

They are probably being optimistic....or I could say that I trust RE agents about as much as I trust used car salesmen.

    Bookmark   February 22, 2011 at 12:32PM
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dirtboy58

Hi gmp3,

We are trying to sell our home in suburban south Denver. We decided to downsize and rent downtown. The house has been on the market since last October. We started asking above what zillow.com showed as our property value (although I'm not sure how accurate that website is, but do know a lot of people go there). Funny, when we listed our higher asking price, the value on zillow.com shot up...yeah, that was weird. We've since dropped our price twice with the same realtor. The house was built in the late 90's and we get a lot of "not the right floor plan for us". We are considering going with a different realtor after contract is up. We've had about 25-30 showings already.

Good luck!

    Bookmark   February 23, 2011 at 1:59PM
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gmp3

hi Dirtboy thanks for your response...are you in HR by chance? We are thinking about downsizing ourselves. Our house was built in the same timeframe.

Are you now below the original Zillow price?

However, the number of showings is encouraging, hard to get past the floorplan issue.

    Bookmark   February 23, 2011 at 2:04PM
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dirtboy58

Yes, we're in the HR "bubble". Wanted a more social environment. We're still a bit above zillow's figure. Everyone else in our area is at or below the zillow figure. Perhaps that's why we're not getting offers yet. Realtor seems too passive for us. We even moved stuff out of the house into the garage to open up our out of date floor plan. :)

    Bookmark   February 23, 2011 at 9:33PM
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gmp3

Good luck, I don't think most of the realtors know what to do in a down market, they are used to show and sell.

    Bookmark   February 23, 2011 at 11:42PM
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powermuffin

I live in old town Longmont, CO. Houses in our neighborhood are selling and for very good prices. We sold our Tech Center house in 2000; whew, we just escaped the bubble burst. HR has so many homes that I imagine the conpetition impacts every sale. Good luck.
Diane

    Bookmark   February 24, 2011 at 12:20PM
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coloradomomof5

We live in N. Colorado Springs (Black Forest). Houses in the mid 300's to 400's seem to be selling. Unfortunately for us, everyone wants a deal and I can't give my house away. We're at 600K now, down from 700K. BUT, I'm an optomist and can wait it out. Just a matter of time!

    Bookmark   February 25, 2011 at 6:08PM
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gmp3

Thanks!

Good luck selling Coloradomom of 5. I have 3 and am trying to psyche myself up to do this!

We would like to downsize before the market drops further, so we don't have to sell, but in order for it to make sense we need to get a certain amount. If we don't we will stay.

    Bookmark   February 25, 2011 at 9:33PM
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adellabedella_usa

We went and looked at houses in the Denver area about a month ago. The ten resell houses that we looked at had all been sitting a while. Our realtor told us she would offer at least $75K less on all of the houses. These houses were in the $500-%700K range.

    Bookmark   February 25, 2011 at 9:45PM
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gmp3

Yikes! Thanks for the info Adellabedella (I guess) ;-).

    Bookmark   February 25, 2011 at 11:22PM
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adellabedella_usa

In all fairness, we were looking at the end of the winter season. It is possible that the better homes were already sold and we were looking at what was left on the market until the spring season hits. We absolutely did not like any of the ten resale houses at the prices where they were listed. The older homes on more land needed significant repairs and remodeling. Several houses were on undesireable lots and had views of the neighbor's houses while other houses in the neighborhood had a fantastic view of scenery. Some houses had not so desireable floor plans. Some of the newer homes were not quality. There was one house with an awesome view that listed in the $700 K's that supposedly had a lot of upgrades. It appeared to be poorly built. There were extension cords running all over the basement and the outdoor carriage lights appeared to be plugged into an outlet instead of being plugged in.

We are a hard customer. We just built and moved into a brand new home last year. Our house is less expensive, has more upgrades, and is better built and has more land that the houses we saw. We are coming from an area with a lower cost of living. My dh was absolutely turned off and would most likely want to build again if we were to move. We also looked at brand new model homes in two different developments being built. One had a model home with a floorplan that both dh and I liked. We could customize it to fit our needs. The builder looked ok, but we would research further. The other development we saw was awful. The builder was ruining the spectacular views with his crappy houses. The houses appeared to be poorly built. What they were trying to pass off as upgrades would have downgrades to us. I think you could buy better fixtures at Wal-Mart.

Anyway, that is our experience so far as potential buyers. We're not sure we will end up in Denver, but we are trying to learn as much as we can about the market in case we are transferred there.

    Bookmark   February 28, 2011 at 3:31PM
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