Home Buying in 80134>Question Details

Relocatetopa…, Home Buyer in 80134

I see many Golden Design Group homes for sale in the Pradera/Vistancia area. I am possibly relocating to

Asked by Relocatetoparker, 80134 Sat Jul 11, 2009

this area and am interested in the Parker area. Are these good deals or is there something wrong with Golden Design Group homes? Good value?

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20
Well, here's my opinion; It's a great area, the houses I've looked at seem solid, but the market is just weak - especially financing over $750k. When the market turns you will wish you bought 2....
1 vote Thank Flag Link Wed Oct 27, 2010
Golden Design Group Inc. built my home in 2001. We bought this in 2011. The agents said great things about this builder vs. others in the area. We are pleased with our home. It looks like there is good quality work that was done. Unfortunately, they are out of business according to the BBB. Good luck.

Out of Business
According to information in BBB files, this company is no longer in business. If you have an unresolved dispute with this company you may wish to seek legal advice.

Government Actions
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On May 23, 2012, an indictment was issued against this business by a federal grand jury in Denver, Colorado. Charges filed indicate the business owner, Peter Capra, executed a scheme to defraud mortgage lenders through the use of applications for residential mortgage loans and related documents associated with real estate purchases in the Denver Metro area. On March 24, 2014 Capra was found guilty of 14 counts of wire fraud, two counts of mail fraud, and 10 counts of money laundering. The matter is final.

A copy of the US Attorney's Office press release can be read here:http://www.justice.gov/usao/co/press releases/2012/May2012/5 24b 12.html
0 votes Thank Flag Link Mon Apr 14, 2014
Is GDG owner Pete Capra in jail now?
0 votes Thank Flag Link Wed Jul 24, 2013
I remember when they were building, its unfortunate that they were doing things the way they were. The link below will tell you more. Personally, I prefer the Timbers/Pinery across the street. You can't beat the natural landscape and there are some very well priced homes there.
http://www.villagerpublishing.com/tag/golden-design-group/

Good Luck!
Let me know if I can help
Rachelle M Paplow
Broker Associate, Realtor
Cherry Creek Properties
(720) 839-2659
0 votes Thank Flag Link Fri Jun 14, 2013
GDG built my house in 2005 in Broomfield, I couldn't sell it because their construction defects. I talked to my lawyer and wrote them a letter asking them to fix the defect. GDG didn't care. GDG hires one of the best lawyer in Denver to deal with these kind of complaints. They basically told me that come and sue us. So, defects were never fixed. Now it is 2013. I am still stuck in the house, now.
0 votes Thank Flag Link Sun Apr 28, 2013
Pete Capra is going to Jail.....good for GDG!!!!!!LOL bye bye Pete you scumbag!
http://www.bizjournals.com/denver/news/2012/05/25/real-estat…
0 votes Thank Flag Link Tue May 29, 2012
GDG homes are low-end homes in nice areas. GDG does NOT take care of problems that should be covered.Be very careful if you buy one built by GDG. Make sure you have it closely inspectedbefore you consider buying.
0 votes Thank Flag Link Sun Apr 22, 2012
Golden Design Group is out of business. I am a GDG home owner. My experience with GDG is that It's owner Pete Capra just wants to sell his houses to customers and doesn't take care customers. I had to pay myself to fix defects that were 100% Pete's responsibility. Regarding price, Pete believes customers wants to steal money from him. So, it is very hard for him to lower price of his houses. So, he held a lot of his houses until the housing market crash. I spoke with Pete regarding repair issues of my house. He used "F" word during the conversation. He spend money hiring good lawyer to deal with normal customer complaints instead of taking care of his customers. People worked for him also are very scared of him. How can a business man be successful if he does not respect his customer and his employees? I am glad he went out of business. Otherwise, i am not sure how many other customers will be hurt. Although you never know what company Pete is going to start again and steal customer's money in a different way.
0 votes Thank Flag Link Thu Mar 1, 2012
Hi Tiger, so now at 1 1/2 years later - what do you think of your house? Have you found a lot of problems with it because of shoddy building practices or are you happy to be there...I would really appreciate your response. Thanks,
Elaine
Flag Sun Oct 12, 2014
Be careful!! D. R. Horton recently (Jan 2011) began construction on lots located in Pradera’s Semicustom Neighborhood. Normally, most homeowners would welcome such activity, but the sounds of bulldozers digging for foundations of track homes in the Semicustom Neighborhood the morning after residents expressed their concerns to the D R Horton-dominated HOA prompted For Sale signs to spring up throughout the community.

Appraisers have estimated the presence of production houses in the Semicustom Neighborhoods of Pradera reduces property values by $80,000.00 for each home, just about the profit margin D. R Horton can expect from each production house built in the Semicustom Neighborhood.

This parasitic strategy is not new to D R Horton. The builder pulled the same bait-and-switch in the Production Community of Pradera known as the Renaissance Collection two years ago. After selling more than two thirds of the production homesites in Pradera, the builder introduced smaller homes with a price point of over $100,000 less than the original designs and built them in the empty lots adjacent to their original customers, hammering home values in an already weak market.
0 votes Thank Flag Link Thu Jan 27, 2011
These homes are a great value, i lived in one of theses homes while the area was being built back in late 2005 until fall of 2007 as leasee. The homes are incredible and and are very energy efficient. the average price for for utilities for a 5000 sqft living area (without basement was about $300 - $350 per month) and that was keeping the temp around 68 - 70 degrees in the winter. The only downside that i would state is tha the wind blows a lot outside, so sometime the it will easily blow out your gas grill becuase of the lack of trees in the area. SInce moving to the Pinery after our landlord went into foreclosure we've been able to enjoy many outside bbq's with no wind thanks to the pine trees now.

When the foreclosure started happening all around Vistancia, many were buying up theses properties and I've literally seen the prices go from $1.295 Million to $540k on many homes. Golden design makes a very nice home and I would recommend them to anlyone that is looking for a nice property.

Oh one last thing, we did have a leak that incident that ruined the wood floor area in the kitchen, but Golden design took care of the issue and I'm sure that the currnet owner that lives in the property will never know that this incident happened because the floor was replaced, resanded and restained. definately a quality home!
0 votes Thank Flag Link Tue Jan 25, 2011
Pradera is our sister community. It's really very nice and seems worlds away from the suburban sprawl. Most folks are suprised how close it actually is to the metro areas.
Web Reference: http://praderacolorado.com/
0 votes Thank Flag Link Mon Oct 25, 2010
There are some great values to be had in this area. As many have said before, there are Pro's and Con's to Pradera / Vistancia. Pradera's taxes are high. Just like the HOA dues, you should figure that into any home you buy. I look at each property as an investment and look at as many factors as I can when evaluating properties for home buyers and investors alike. Pradera is a beautiful area and close to both Parker and Castle Rock.

I don't have an opinion on GDG homes, I would evaluate them as any other property. We had one across from the golf clubhouse that was a Joyce custom and it was listed at about 30-40% of the highest list price. This is the softer end of prices in a soft market. Deals are to be had by qualified buyers.
0 votes Thank Flag Link Wed Sep 22, 2010
Pete Crapa!!! Haha- Nice!!!!!!!!!!

Heard the HOA was going down - because of the pond. There are multiple offers on one of the properties there that is listed that I saw today!!! Largest model I think for mid 500's- sold the second largest in March of last year personally the La Bella Model for 510k-

Would have to research the values there to have an opinion :)
0 votes Thank Flag Link Thu Jan 14, 2010
I am an owner in Vistancia and I've got to tell you that even though we don't get to use Pradera's pool we pay half the taxes Pradera owners pay. You can always join Pradera's golf club, like my husband and I did. Also, we've been more then pleased with our home. We do have a warranty through Residential Warranty Corp, and we even had a few broken tiles on our roof when we moved in that the Tile Company replaced. I will say a year ago it was a ghost town however Vistancia is almost completely sold out. We do have some lots left that haven't become available yet. Don't listen to Parker Homeowner, they're just bitter that they got ripped off buying a DR Horton home. We have higher quality upgrades, more square footage and larger lots. As for horrible curb appeal, 90% of the lots didn't have landscaping so of course the curb appeal was bad. I would also have to say that our HOA is fantastic compared to Pradera's, considering DR Horton has the majority of the spots on the HOA board. Is Pradera's HOA board really looking out for their homeowners? All in all, this is a great community and now that it's filled in we have Bunko night, Poker night, and Neighborhood parties. Our HOA also owns 180 acres of open space behind our properties that we are planning on putting in more trail systems. Currently we have one that goes to the Cherry Creek Trail. I actually live here and have been so thankful that I didn't buy a home in Pradera because we looked there at all of the homes, including the custom ones.
0 votes Thank Flag Link Mon Nov 9, 2009
Golden Design Group sold all the homes in Vistancia except 2 to straw buyers. The deal was that GDG would find renters for these homes...you know how this story goes. Anyway GDG did this all over town in 4-5 other subdivisons. Sales prices were all about $1.2mill and now(2008-299) selling for $350-$500, seller the BANK. These homes have never been lived in and are a great deal however you get no warranty and these homes are located far from the Interstate and shopping. I think the fraudsters should go to jail. Think about it $500 cash back times 200+/- homes throughout Denver Metro??? Not a slow down but plain XXXXXXX(fill in the blank).
0 votes Thank Flag Link Sun Sep 20, 2009
There is a reason these homes are cheap. We are buying in Pradera, but not vistancia. You get no access to the community pool. In my opinion they have some of the worst street appeal and floor plans in the area. You get a great deal on the price per square foot on these homes and they do have large yards for the area. That being said they have a lot of space that seems to be overkill for many families in the area. For us personally we were happy to spend $70,000 more for a home with 30% less square footage and a much smaller yard to get the pool access, and the better feel of the Pradera neighborhood, not the gated area of Vistancia which appears to be a ghost town.
0 votes Thank Flag Link Wed Jul 22, 2009
I have also been looking at the Pradera area for quites some time. I have been waching two homes beeing built on Sedona drive that back up to the 12th fairway. When I compare these to the Golden homes , these are better homes with more custom features. I know they have been for sale for quite some time and it may be a good time to approach the builder to see if they are negotiable on the price. If what I hear is true it could be a good opportunity....
0 votes Thank Flag Link Sat Jul 18, 2009
I agree with Brian. There are great deals to be had in the Vistancia neighborhood and they are the result of some fraudulent dealings. Some of the homes have also been available through the Public Trustee sale. My husband and I have lived in Parker for 12 years. We love the small town feel and the convenience of the location. Are you familiar with the town? We'd be happy to send you some information.

Rich and Donna Foerster
720-530-5553/4
0 votes Thank Flag Link Sat Jul 11, 2009
These homes are a GREAT DEAL! We have sold some and have great results with these homes.
There were many, many Golden Design Homes sold to invest0rs a few years ago and now we are seeing the results. Most of these have never been lived in. I saw one that was about $1.2 Mil when sold the first time just go for $420K! These are deals!
Brian
http://www.kennarealestate.com/search-denver-foreclosures.php
0 votes Thank Flag Link Sat Jul 11, 2009
I think what you are seeing is the result of the slow down in sales of homes in this price range. While we have seen a strong recovery in the lower priced market under $200,000, the luxury home segment has not yet recovered and sales are still sluggish. Thus there is a lot more inventory in this price range, resulting in some great values, especially from the builders if you're thinking new construction.

Our website has a great property search feature which you can set up your self to receive email alerts of new listings, or contact me and I can set it up for you.

Best Regards,
Marianne Bandy
303-746-7799
ReMax Professionals
Parker, Colorado
Web Reference: http://www.BandyHomes.com
0 votes Thank Flag Link Sat Jul 11, 2009
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