When evaluating a home in the Goldsmith area, what factors should I take into consideration to understand the home's worth and resale value ?

Asked by Rubin611, Denver, CO Thu May 24, 2012

I am considering buying 2413 Kirkwood Court in the Goldsmith neighborhood. When reading the home value stats for this neighborhood, I became concerned about the homes price and resale value. I have offered 350,000 for the property. I am concerned that Trulia's estimate of 304,000 and their stats for the Goldsmith neighborhood in general are significantly lower. What should I take into account and what is your expert opinion about the home's worth and resale value?

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6
Doctorcorvel…, Renter, Denver, CO
Wed Jun 20, 2012
Hi Rubin, I live in this area and I am not a realtor who is trying to get their paycheck padded. I think the 350,000 you have offered is on the high end for what these homes are really selling for. Stick to your guns on the price you have offered. Who ever the seller is, they are making a nice little profit for the area. I would expect the price for these homes to go up, as it is a nice convenient location, and with the expansion of the Tech Center and the commuters driving in every day from the South, we are in a good place to negotiate well. Good luck to you in your new home. It's quiet and an older community. Pamella
0 votes
"Paycheck padded". the difference in the amount an agent would make on a 350 deal as opposed to a 300 deal is, in most agent's mind, not enough to encourage a client to overpay for a property. Real estate agents are bound by their agency agreements to advocate in the best interests of their clients and we do. There will always be those in every profession whose ethical center is soft but "padding" is bad business.
I do understand your point was in order to distinguish yourself from the sales pitch that is common in these answers, but it's a bit of an overgeneralized slap.
Rubin, why would you feel your price was not competitive? Are you working with an agent who has provided you with sufficient data? I think that's key, for you to feel you are getting all of the information you need, (and not from Zillow.)
Flag Sun Jun 24, 2012
Bob Gordon, Agent, Boulder, CO
Fri May 25, 2012
You do realize this house is Under Contract, right? If you are the buyer under contract, I think your agent can best advise you. Trulia and similar sites are excellent tools for consumers, but are not the premier tools for pricing homes. There are many unqiue factors for any given house - location, orientation, updates, bathroom configuration. I don't think a website can accurately determine value. There are too many variables. A good agent will do a competitive market analysis and assist you in understanding the pricing of a property. According to the MLS - the house you are inquiring about has been under contract since the 18th.
0 votes
Robert McGui…, Agent, Denver, CO
Thu May 24, 2012
Rubin611,

I did a quick check on Sold homes and activity in this Eastgate area. The 3 Sold and 1 Under Contract homes ranged from $360000-$370000. From the initial research I have done it looks as if you are getting a good deal if your offer is accepted at $350,000. Your Buyer's Agent is probably telling you the same thing. When it comes to trusting the research of Trulia or a local Realtor, trust the local professionals. They have done a lot more research than I and have come up with a fair price. You have put in a decent offer below the asking price. Good luck and success with your purchase. Especially in this 'hot' Denver market - http://j.mp/IAVCfF . Sales are averaging 95% to over 100% of asking price in most nice areas of Denver.

Robert McGuire ASR
Broker/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
http://theRobertMcGuire.com
0 votes
Ethan Besser, Agent, Englewood, CO
Thu May 24, 2012
Hi Rubin611,

The way that you determine the value of the house can vary depending on the market and the specific property. Generally you would look at similar house in similar condition within the last 6-12 months. Then you would consider that the market is going up right now.

I have 2 questions for you. Are you represented by a realtor? If no, hy are you not using an agent to represent you? My service are free of charge to buyers and you get my top expertise to get you a great deal on a property.

Call me and I will be glad to assist you 303-856-8980.

Ethan Besser
Keller Williams
303-856-8980
0 votes
Cory Fitzsim…, Agent, Golden, CO
Thu May 24, 2012
Don't rely on Trulia valuations or other websites for that matter. The local MLS is the best source for this info. Consult a professional realtor that lives/knows the area. They will walk you through all the factors to consider and discuss value. Good luck.
0 votes
Matt Mansfie…, Agent, Lakewood, CO
Thu May 24, 2012
Give me a call and I can go through your options. I live in the area.

Matt Mansfield
Check out ALL the homes for sale at http://www.mansfielddenver.com
matt@mansfielddenver.com
303-725-8484
Equity Colorado
0 votes
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