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Showing posts from September, 2017

R-2-B Zoning in Englewood for sale. Rare opportunity for a killer duplex

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Investors or Developers R-2-B Zoning!!! Rare opportunity for a killer duplex (Can be subdivided with separate legal description) or triplex building lot in a highly-sought-after neighborhood in Englewood. Just 4 lots N of Dartmouth & Elati, it's a quiet, up-and-coming neighborhood with great neighbors, right around the corner from Broadway, Santa Fe, Light Rail, William E. Bishop Elementary School, neighborhoodcommunity gardens, RiverPoint shopping, Walmart, Kings Soopers, Safeway & a lot more. Buy to redevelop and resell at just over $100k per unit for the dirt!!! The home is currently boarded up, the real value is in the land. NO SHOWINGS. PLEASE DRIVE BY AND SEE THE LAND. Survey and Soil test are already done. Broker Remarks Tons of duplexes & triplexes being built in the neighborhood (Four planned in the next year plus two already built. All in the same block). R-2-B is what you want to maximize your return. Rents are going for $2200+ per unit in the triplex rental…

You need to make more than $80,000 a year to afford the median Denver-area home

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A new report highlights just how far out of reach home ownership is for many in the Denver metro area. An individual or household needs to make at least $81,349.82 a year in order to afford the median home in the Denver metro area. Compare that to the Denver metro area’s median household income, which was $71,146 in 2015, the latest year for which data are available. The analysis used median single-family home price data from the second quarter of 2017, which amounted to $424,500. That price encompasses the entire metro area and not just the city of Denver.
In calculating the salary required, We assumed a 30-year fixed-rate mortgage with a 4.11 percent interest rate and a 20 percent down payment, which would mean a monthly payment of $1,898.16. That includes the principal, interest and estimated taxes and insurance. A 20 percent down payment isn’t always necessary, but putting down less money upfront will lead to higher monthly payments. With a 10 percent down payment, one would need…

Denver-area home prices drop slightly again in August; still up year-over-year

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The cost of buying a home in the Denver metro area dipped slightly for the second straight month in August, according to the latest data from the Denver Metro Association of Realtors.
The median sale price of all residential properties was $380,000 last month, a decrease of $5,000 from the month before. Compared to the same time last year, however, prices are still up more than 8 percent.
While it’s difficult to say if the past couple months are indicative of a trend, Realtors say the numbers do seem to show that the market is cooling down some.
Housing numbers can be presented in ways to paint many different pictures, Overall, it is still a positive market even though we are transitioning towards something that looks more normal. 38,553 residential properties have sold so far this year, setting a new record for the metro area. That number is 4.35 percent higher than the same time last year.
While housing inventory continues to climb, it’s still far below the historical average of mo…