Sam, I love how you explain the real estate market and trends. You make it so that everyone can understand what you are sharing. Keep the videos coming.
This is why we have boom and bust markets; "price is based on what the market will bear". We need to get away from that concept and instead use more predictable measurements, like what is the replacement cost of that house
We lived in Highlands Ranch for 5 years from 2013 to 2018. In that time our home barely went up in value, maybe around 1-2% per year. Fast forward to 2022 that home DOUBLED IN VALUE in just 1.5 years because of the pandemic. Today, July 2024, it’s come down 10% from the high but still overvalued by 30% in my mind. This was for a cookie cutter home with terrible construction quality.
I walk the dog through my neighborhood in Sloan(s) lake and Highland everyday. There is at least one home for sale on each block some two, even two next to each other. But one difference is I have seen 3 listed for Lease which I has been rare to see in this nieghborhood.
Easily overpriced to the tune of 20%-25%. The City did the population no favors with their revaluation of properties; actual values have almost always set a precedent in the past where the municipality’s “actual value” was about 10% less than market. Now, the revaluation has thrown everything off, and you have average to somewhat nice houses being buoyed and overvalued. The scrape offs and renovations resemble that of the contemporary McMansions replete with $85 Home Depot fixtures. Not every area can command Wash Park prices - I don’t give a shit how tony the area is.
Only 7% higher than Jacksonville FL. :-) All the issues you mentioned are real. We gave up 2.5% for 5.5%. We paid less than we sold for and we got less house. Having the house you own be close to equally overvalued or even better more overvalued is all that can make the math work. First time buyers are completely out in the cold.
![The Best Buyer Opportunity in 11 Years [Denver Real Estate Market Update]](http://i.ytimg.com/vi/Rn1Q7R0xh4M/mqdefault.jpg)
Sam, I love how you explain the real estate market and trends. You make it so that everyone can understand what you are sharing. Keep the videos coming.
It is my pleasure and thank you so much for your kind words. I appreciate you watching!
This is why we have boom and bust markets; "price is based on what the market will bear". We need to get away from that concept and instead use more predictable measurements, like what is the replacement cost of that house
Sam, I love your channel! Keep it up!
Great video, thanks Sam!
Thank YOU!
We lived in Highlands Ranch for 5 years from 2013 to 2018. In that time our home barely went up in value, maybe around 1-2% per year. Fast forward to 2022 that home DOUBLED IN VALUE in just 1.5 years because of the pandemic. Today, July 2024, it’s come down 10% from the high but still overvalued by 30% in my mind. This was for a cookie cutter home with terrible construction quality.
I walk the dog through my neighborhood in Sloan(s) lake and Highland everyday. There is at least one home for sale on each block some two, even two next to each other. But one difference is I have seen 3 listed for Lease which I has been rare to see in this nieghborhood.
Wait until interset rate drops. People are going to pay 50k over asking inflated price. Show me the payment, not the price.
Most good homes in the metro are over $400K and many times $500K which is outrageous if you see the shape of some of these houses lmao
It's not just the price. It's specifically the price per square foot that is insane
Easily overpriced to the tune of 20%-25%. The City did the population no favors with their revaluation of properties; actual values have almost always set a precedent in the past where the municipality’s “actual value” was about 10% less than market. Now, the revaluation has thrown everything off, and you have average to somewhat nice houses being buoyed and overvalued. The scrape offs and renovations resemble that of the contemporary McMansions replete with $85 Home Depot fixtures. Not every area can command Wash Park prices - I don’t give a shit how tony the area is.
Only 7% higher than Jacksonville FL. :-) All the issues you mentioned are real. We gave up 2.5% for 5.5%. We paid less than we sold for and we got less house.
Having the house you own be close to equally overvalued or even better more overvalued is all that can make the math work. First time buyers are completely out in the cold.
Shouted this out in the most recent video. Spot on!