Garydrach, Home Buyer in Commerce City, CO

my son is interested in buying a large house on frasier st in reunion colorado. this is his first home he is interested due to the low price per

Asked by Garydrach, Commerce City, CO Sun Sep 25, 2011

square foot compared to other areas. Is this a good time to buy in that area or will the houses continue to drop what is the neighborhood like? is their a better area to look for first time homebuyers who would like to see the psooibility of some apprecviation

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I would first get to the bottom of why he wants to live in Reunion. Does he see himself living there for a good, long while? If he sees this home purchase as a long term investment, meaning he will be there 5 years +, he may see some appreciation. You have to keep in mind that in this real estate market, there is no such thing as quick appreciation. They are still building in Reunion which means there will always be new inventory and that is what he will be competing with when he sells so that is a factor as well. Unless he is looking in central Denver where inventory is limited and appreciation is more likely, he will need to be in his house for a while. Reunion is a great area. I helped my brother buy and sell a house there within the year (he got a new job out of state shortly after they bought). We were able to sell for the same price we bought it for 9 months earlier and I was very excited about that.

If he needs to speak with someone, have him contact me!

Lane Walsh
Dwell Denver Real Estate
Web Reference: http://www.dwell-denver.com
0 votes Thank Flag Link Tue Dec 6, 2011
Reunion is a wonderful area, I should know because I have lived in that neighborhood for 6 years and have sold many properties here. I am truly your neighborhood expert. Keep in mind that there are several other neighborhoods very close to Reunion where I can find you a good deal also. This is a wonderful time to buy in this neighborhood especially with all the new development coming. If you would like to discuss it in more detail, feel free to give me a call or visit my website at http://www.RickCavallaro.com

Rick Cavallaro
303-641-1632
0 votes Thank Flag Link Mon Sep 26, 2011
As others have said, there are many factors involved. Your son needs to find a Realtor to work for him as a Buyer's Agent. He/she will be able to look at sold comps around the area and determine what "fair market value" is.

P.S. Do NOT go by price per SF. This is typically done for new construction. For resale homes it's not a good tool for determining a home's value. Think about it -- it's just about math. Here's an article which explains why: http://homebuying.about.com/od/marketfactstrends/f/062408_pe…
0 votes Thank Flag Link Mon Sep 26, 2011
Your best bet is to work with a Buyers Broker like Myself that knows the Area and surrounding Areas. For instance, in Reunion, the closest Grocery Store is 9mi.away. That is part of the pricing issue. I have heard for the last Year that one is coming soon. Check out My website to see a slide show of active Listings in Reunion, Buffalo Run and surrounding Areas.
Thanks, Bob
Web Reference: http://bobtruax.com
0 votes Thank Flag Link Sun Sep 25, 2011
I would buy real estate know because this is the best time to buy.I would talk to a real estate agent.First time home buyer can get FHA loan. Good luck.
0 votes Thank Flag Link Sun Sep 25, 2011
I would highly recommend consulting a local realtor in that area. Just because it has a low square foot price, does not mean it is a good buy. There are many other factors to consider.
0 votes Thank Flag Link Sun Sep 25, 2011
As the others have mentioned there is a lot to look at. When I work with a buyer. I will look at the subject property and compare it to recent solds in the neighborhood. We look at the past trends in the area and try to determine if the neighborhood is stable, increasing or declining in value. We also look at the competitive properties that are on the market and not sold. But these items need to be looked at separately. Some sellers have not realized that their properties are not worth what they think they are and if the average sold price in a neighborhood for a similar home is $250k and the seller has it listed for $300k and is identical or similar to the subject that just messes up the actual numbers when they are lumped together.
We do not have a crystal ball for what a neighborhood will do in the future but we can look deeply to what it is currently doing & has done in the past.
Call my office & schedule an appointment to meet if you would like the help. Otherwise best of luck.

Shay Lowe
720.747.7009
0 votes Thank Flag Link Sun Sep 25, 2011
First you should not base value by a price per square footm it doesnt take into consideration extras like a garage, finsihed basement, extra bathrooms or upgrades such as new carpets, hardwood floors, fireplace, granite etc. There are great deals everywhere, first assess what the house is worth in todays market looking at total value, if the sales price is under current market value, it is a good deal and could be safe even if prices do decline slightly.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Sep 25, 2011
I have recently sold 3 Homes in that area. Answer is complicated. Please call Me at: 303-548-8508
Thanks, Bob Truax
0 votes Thank Flag Link Sun Sep 25, 2011
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