We are thinking of building a house on the golf course at GVR, but are concerned about the market in GVR.

Asked by Jennifer, Murray, UT Sun Aug 3, 2008

We currently have 2 houses in East Montclair and want to either sell or rent them and then build on the golf course. We have heard mixed reviews and don't want to end up with a dud of a property that we can't get rid of in 10 years. We are just curious if being on the golf course will help keep or inflate our home value.

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3
Julie Montgo…, , 80238
Thu Jan 27, 2011
Hi -- I think it's safe to say if you buy a home on the golf course in GVR now, and you hire a competent, knowledgeable realtor to make sure you're not overpaying, you'll do well. Green Valley Ranch has been one of the HARDEST hit areas in the Denver Metro areas as far as foreclosures. The good news is the prices are way down, but you still have to be aware that location, location, location still wins out in the end. There will never be as many people willing to live in GVR as most other areas. That's WHY prices are so low ... Julie Montgomery, RE/MAX Masters, Inc., 303-906-3150
0 votes
Bill Fung, Agent, Centennial, CO
Sun Aug 3, 2008
Based on a quick search of a website for a property located on dunkirk Way in GVR here is what they estimated median price to be for that type of house in GVR. Obviously this is not a Golf Course lot. Hope this answers your question.

3 Months 6 Months 12 Months 24 Months 5 Year 10 Year
Median Sale Price 160,000 158,000 168,000 189,000 205,000 205,433

It would be in your best interest to find a professional REALTOR who knows how to research, has resources and information that is pertinent to your situation.

If you have additional questions feel free to contact me. Best wishes in your future endeavors

Bill
Web Reference:  http://www.homesellteam.com
0 votes
Chuck Strau…, Agent, Denver, CO
Sun Aug 3, 2008
I believe that, once the foreclosure situation stabalizes in that area, it will do OK. Property values throughtout GVR have not done well over the past few years, but the area is pretyy saturated with a bunch of foreclosures.
On the golf course question, owning on a golf course does not always assure success and appreciation. It depends on the course, the designer, the area of town, and other real estate related issues.
I can send you comps for the area, list vs. sale price, days on market, etc. which might give you an idea about the current market, but not necessarily where the market might be headed.
Chuck Strauss
720-318-7598
CStrauss@kw.com
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