Home Buying in Golden>Question Details

Jennifer Mor…, Home Buyer in Golden, CO

I'm interested in the average price per square feet of homes in Golden. Trulia offers this information but

Asked by Jennifer Morrissey, Golden, CO Fri Apr 11, 2008

does not say if that includes the basement or not? Do you know???

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Jennifer, I wish I could throw out a number for you, but there is NO STANDARD for measuring a home that is universally accepted. Buying based on sq. footage is risky.

I will give you an example. Typically in Denver we do NOT count the sq. ft. in the basement as part of the measurement. However, if the basement is finished we will say, "the finished sq. ft. is...."

Now go to the mountains. In the mountains the agents DO count the basement sq. ft. because part of the basement more often than not is "above ground" or as we say in town a "walk out basement". This is why the mountain agents count it.

Recently I listed a home in Riva Chase (above Golden). When competing for the listing I refused to count the walk out basement sq. ft. while the other agents did count it. The resulting prices were skewed by over 6 figures! In the end, my figures were deemed correct by an licensed appraiser because that is how appraisers measure! (yippee for me).

So why is this important to you? In order to make a decision, you must be certain the data you are basing the decision on is correct as is the data you are judging it against.

You will not be able to confirm that in Golden because of the mixture of agents measuring how they please.

Average PSF is not a good way to determine value. The value is dependent upon finishes, quality of construction, location and a host of other things.

Since Trulia gets their information from agents inputting listing data. I can only assure you of one thing, it is not necessarily correct to assume the basement in not included, even though it should be.
2 votes Thank Flag Link Fri Apr 11, 2008
Jennifer, I have been in Real Estate for 17 years..

Make sure when you look..you request ALL comparables in the area you are looking from an agent/Broker

Most importantly you can access the recent sales info from any county site..then you make sure you get ALL sales..including foreclosures and privately sold homes.

Be pro active in this market to assure you are really getting a good deal..

Finally, find an agent/Broker you can trust....

If you have any other questions you may write me at ......................mvdtoparadise@cox.net

Make sure you go by a potential home and knock on the neighbors door..they can be a great source of information about what's going on in the neighborhood.

It's like moving into a rental..you find out later your neighbor is loud etc.....However, when your lease is up..YOU can move easily compared to when you purchase....it's much harder...

So, make sure you like everything..go by when people are home from work and school..or on a Saturday...

Investigate ....like in my case ..where all the fast food restaurants are..HA!! You know..WHAT"S IMPORTANT to the way YOU live.....theatres etc.

Happy hunting!!!
0 votes Thank Flag Link Sat Nov 15, 2008
Jennifer: We would be happy to run this report for you. This will include finshed basements-- and will give you all the details. FindingTheHome.com -- and click on Market Snapshot.

Kathryn Carlson, Licensed Real Estate Broker Owner ,
Bachelor of Science, Realtor, Accredited. Luxury Home Specialist, e-Pro Certified
Memberships: National Association of Realtors,
Colorado Association of Realtors, Denver Board of Realtors, Council of Residential Specialists,
Council of Luxury Home Specialists, Colorado Mortgage Holding Company, Licensed HUD Broker, Denver Metrolist
Homes and Lifestyles of Colorado
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0 votes Thank Flag Link Fri Apr 11, 2008
Hi Jennifer,

I'm not sure how Trulia calculates, but normally basement square footage (or floors below grade) isn't included in the average price per square foot calculations. I have a good Appraiser friend who lives north of Denver and I'm sure would be happy to get you an accurate answer -- even for the specific neighborhood in which your looking. Send me an e-mail or give me a call and I'll put you in touch with him.

Take care,

Ben Edgson
Mortgage Broker
720.280.0441
ben@bythebrookemortgage.com
0 votes Thank Flag Link Fri Apr 11, 2008
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