Comments for Inside Real Estate News http://insiderealestatenews.com Colorado's Real Estate News Source Fri, 10 Feb 2012 04:36:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Home inventory plummets 42% by Jason http://insiderealestatenews.com/2012/02/home-inventory-plummets-42/comment-page-1/#comment-122846 Jason Fri, 10 Feb 2012 04:36:26 +0000 http://insiderealestatenews.com/?p=16573#comment-122846 John D- Excellent points! John D-

Excellent points!

]]> Comment on Home inventory plummets 42% by JohnD http://insiderealestatenews.com/2012/02/home-inventory-plummets-42/comment-page-1/#comment-122843 JohnD Fri, 10 Feb 2012 04:25:42 +0000 http://insiderealestatenews.com/?p=16573#comment-122843 I came across this data yesterday http://www.deptofnumbers.com/asking-prices/colorado/denver/ Their definition of the Denver market is evidently slightly different, they show a 33.6% y/y decline in inventory and a 14.6% y/y increase in average listing price. Of course the average listing price data needs to be consumed with a large dose of salt, as it probably just reflects the removal of all the really cheap homes from the MLS, but it is noteworthy that it is the 2nd best set of city data of the 60 or so cities that they track. I respect the case-shiller data a lot, but it is 4+ months behind the markets when it is published (and the last publication was 2 weeks ago), the Denver market has improved a lot in the last five months particularly at the low end. I am skeptical about home builders starting to move much, I think prices need to jump at least 5% for $180,000+ homes for that to happen, that is not happening, it seems as if most of the improvement is at the low end. It just does not make sense to spend $150,000 to build a house that will only sell for $160,000. I came across this data yesterday http://www.deptofnumbers.com/asking-prices/colorado/denver/
Their definition of the Denver market is evidently slightly different, they show a 33.6% y/y decline in inventory and a 14.6% y/y increase in average listing price. Of course the average listing price data needs to be consumed with a large dose of salt, as it probably just reflects the removal of all the really cheap homes from the MLS, but it is noteworthy that it is the 2nd best set of city data of the 60 or so cities that they track.

I respect the case-shiller data a lot, but it is 4+ months behind the markets when it is published (and the last publication was 2 weeks ago), the Denver market has improved a lot in the last five months particularly at the low end.

I am skeptical about home builders starting to move much, I think prices need to jump at least 5% for $180,000+ homes for that to happen, that is not happening, it seems as if most of the improvement is at the low end. It just does not make sense to spend $150,000 to build a house that will only sell for $160,000.

]]> Comment on Home inventory plummets 42% by Dave Barnes http://insiderealestatenews.com/2012/02/home-inventory-plummets-42/comment-page-1/#comment-122821 Dave Barnes Fri, 10 Feb 2012 03:10:49 +0000 http://insiderealestatenews.com/?p=16573#comment-122821 What?! You can't have it both ways. “You can tell we have really hit bottom,” and houses should start to appreciate, he said. The average/median price of a home sold in January was DOWN. Case-Shiller is DOWN. What?!
You can’t have it both ways.

“You can tell we have really hit bottom,” and houses should start to appreciate, he said.

The average/median price of a home sold in January was DOWN.
Case-Shiller is DOWN.

]]> Comment on Home inventory plummets 42% by jason http://insiderealestatenews.com/2012/02/home-inventory-plummets-42/comment-page-1/#comment-122755 jason Fri, 10 Feb 2012 00:07:48 +0000 http://insiderealestatenews.com/?p=16573#comment-122755 “Homebuilders are starting to make a move,” to build more homes to fill a void created by the lack of resale home, Alexander said. Not according to MDC's Mizel in their q-statement- "Our efforts to reduce overhead continued in the fourth quarter, allowing us to decrease general and administrative expense by 33% year-over-year. In addition, since the second quarter of 2011, when we announced a change to our strategy on starting unsold homes, our home gross margins have improved 200 basis points." “Homebuilders are starting to make a move,” to build more homes to fill a void created by the lack of resale home, Alexander said.

Not according to MDC’s Mizel in their q-statement-

“Our efforts to reduce overhead continued in the fourth quarter, allowing us to decrease general and administrative expense by 33% year-over-year. In addition, since the second quarter of 2011, when we announced a change to our strategy on starting unsold homes, our home gross margins have improved 200 basis points.”

]]> Comment on Colorado gets $205 million in bank settlement by Dave Barnes http://insiderealestatenews.com/2012/02/colorado-gets-205-million-in-bank-settlement/comment-page-1/#comment-122734 Dave Barnes Thu, 09 Feb 2012 22:54:57 +0000 http://insiderealestatenews.com/?p=16579#comment-122734 This is HUGE! This is $40 for everyone person living in Colorado. Wow! I am impressed with the negotiating skills of John Suthers and his counterparts. This is HUGE!
This is $40 for everyone person living in Colorado.
Wow!
I am impressed with the negotiating skills of John Suthers and his counterparts.

]]> Comment on Shepherd: Warrior for civility by Cityboy http://insiderealestatenews.com/2012/01/shepherd-warrior-for-civility/comment-page-1/#comment-122725 Cityboy Thu, 09 Feb 2012 21:50:29 +0000 http://insiderealestatenews.com/?p=16327#comment-122725 Jackie; What is "transparently obvious" to you happens to not be true. I am a private citizen and homeowner in the Highlands and happen to hold the same views as many other residents. Just because we don't agree with you doesn't mean we work for developers or the city. The elephant in the room is that no one on your side of this argument has presented one single shred of evidence that any unethical or illegal behavior took place. If you have it you should produce it. I would also suggest that you didn't even know that "Blueprint Denver" (a 10 year old amendment to a 12 year old plan) existed until 6 weeks ago. Stability-shmability. The Denver Zoning Code was passed to enshrine the wish list that was the Denver Comprehensive Plan into law. Here's the bottom line, you had a chance to comment on this zoning before it happened, and a 12 month grace period to complain before it was implemented. You weren't paying attention. This is one area of your life that you don't get a do-over. See you at the ribbon cutting! Jackie; What is “transparently obvious” to you happens to not be true. I am a private citizen and homeowner in the Highlands and happen to hold the same views as many other residents. Just because we don’t agree with you doesn’t mean we work for developers or the city. The elephant in the room is that no one on your side of this argument has presented one single shred of evidence that any unethical or illegal behavior took place. If you have it you should produce it. I would also suggest that you didn’t even know that “Blueprint Denver” (a 10 year old amendment to a 12 year old plan) existed until 6 weeks ago. Stability-shmability. The Denver Zoning Code was passed to enshrine the wish list that was the Denver Comprehensive Plan into law. Here’s the bottom line, you had a chance to comment on this zoning before it happened, and a 12 month grace period to complain before it was implemented. You weren’t paying attention. This is one area of your life that you don’t get a do-over. See you at the ribbon cutting!

]]> Comment on Post editorial supports RedPeak by Cityboy http://insiderealestatenews.com/2012/02/post-editorial-supports-redpeak/comment-page-1/#comment-122717 Cityboy Thu, 09 Feb 2012 20:56:14 +0000 http://insiderealestatenews.com/?p=16565#comment-122717 RedPeak's project is thoughtful, and adds density where the city advocates density. It's time they stopped trying to satisfy people who will NEVER be satisfied with anything they do. This whole excercise has been all sound and fury. Councilperson Shepherd needs to stand up and say that this property will NOT be downzoned (as she should have done at the first meeting she held on this subject) for exactly the reasons's stated in the Post editorial, and that the developer will proceed based on their rights under the brand new zoning code. Bring on the bulldozers! RedPeak’s project is thoughtful, and adds density where the city advocates density. It’s time they stopped trying to satisfy people who will NEVER be satisfied with anything they do. This whole excercise has been all sound and fury. Councilperson Shepherd needs to stand up and say that this property will NOT be downzoned (as she should have done at the first meeting she held on this subject) for exactly the reasons’s stated in the Post editorial, and that the developer will proceed based on their rights under the brand new zoning code. Bring on the bulldozers!

]]> Comment on Post editorial supports RedPeak by Paul http://insiderealestatenews.com/2012/02/post-editorial-supports-redpeak/comment-page-1/#comment-122700 Paul Thu, 09 Feb 2012 19:32:12 +0000 http://insiderealestatenews.com/?p=16565#comment-122700 It's time for this small group of over-the-top NIMBY's to accept the facts -- as they were so accurately presented this morning by an objective source -- and get a grip. Denver's ability to grow and develop does not revolve around you. It's based on careful thought and planning that is intended to serve the greater good, not a handful of people who are going to lose their view of downtown Denver. It’s time for this small group of over-the-top NIMBY’s to accept the facts — as they were so accurately presented this morning by an objective source — and get a grip. Denver’s ability to grow and develop does not revolve around you. It’s based on careful thought and planning that is intended to serve the greater good, not a handful of people who are going to lose their view of downtown Denver.

]]> Comment on RedPeak concessions could include 4-story building by Aaron http://insiderealestatenews.com/2012/02/redpeak-concessions-could-include-4-story-building/comment-page-1/#comment-122699 Aaron Thu, 09 Feb 2012 19:05:52 +0000 http://insiderealestatenews.com/?p=16497#comment-122699 Moncrieffdude claiming Redpeak would decrease the height of one building as to not block the views of another building that they owned so that they could make more money IS stupid. Not that I need to point that out, since your admission of your intellectual skill is the first true statement to ever come out of No Highrises in Higland. But here it is again slowly. They....could... rent...the... units....in ... the.... 5 ... story... building... they ... have... reduced ... in ... size.... with... the.... same... views... that .... you.....people.... are.... claiming.... they.... are... preserving.... for....the... building.... behind...it. They are compromising by reducing the height, providing setbacks, preserving the church, engaging you the neighbors (which I still really really can't fathom why - better chance to teach a rock calculus), reducing the number of units originally planned, taking retail out of an entire side of the development. So let's get back to you and your neighbors being stupid. Compromise is exactly what they are doing, they have moved continuously and considerately to address all the real issues (and most of the fake ones) that the neighbors have brought up. That IS compromise - what you are insisting on, over and over and over again, is surrender and total capitulation by them. There is a HUGE difference between the two. People who are intelligent (nearly everyone NOT in No Highrises in Highland) can tell the difference. Moncrieffdude claiming Redpeak would decrease the height of one building as to not block the views of another building that they owned so that they could make more money IS stupid. Not that I need to point that out, since your admission of your intellectual skill is the first true statement to ever come out of No Highrises in Higland. But here it is again slowly.

They….could… rent…the… units….in … the…. 5 … story… building… they … have… reduced … in … size…. with… the…. same… views… that …. you…..people…. are…. claiming…. they…. are… preserving…. for….the… building…. behind…it.

They are compromising by reducing the height, providing setbacks, preserving the church, engaging you the neighbors (which I still really really can’t fathom why – better chance to teach a rock calculus), reducing the number of units originally planned, taking retail out of an entire side of the development.

So let’s get back to you and your neighbors being stupid. Compromise is exactly what they are doing, they have moved continuously and considerately to address all the real issues (and most of the fake ones) that the neighbors have brought up. That IS compromise – what you are insisting on, over and over and over again, is surrender and total capitulation by them. There is a HUGE difference between the two. People who are intelligent (nearly everyone NOT in No Highrises in Highland) can tell the difference.

]]> Comment on Post editorial supports RedPeak by Dave Barnes http://insiderealestatenews.com/2012/02/post-editorial-supports-redpeak/comment-page-1/#comment-122682 Dave Barnes Thu, 09 Feb 2012 17:49:33 +0000 http://insiderealestatenews.com/?p=16565#comment-122682 And, from today's Post's news section. "A shallow, intense inversion trapped a layer of cold air and pollutants near the surface of the Platte Valley on Wednesday...Combustion — from wood-burning, power plants, cars and other sources [smoke pouring from the heads of the West Highland NIMBYs]" And, from today’s Post’s news section.
“A shallow, intense inversion trapped a layer of cold air and pollutants near the surface of the Platte Valley on Wednesday…Combustion — from wood-burning, power plants, cars and other sources [smoke pouring from the heads of the West Highland NIMBYs]“

]]>