Residential Real Estate Market in Your Area?

Montanalo

Montanalo

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What's the residential real estate market doing in your area?

Recently, my wife and I bought ranch property in NW Montana with the intention of building a new home next year. We currently own a home in central Colorado, about an hour SW of Denver. By all accounts, the single family residential market is quite hot at the moment. Prices are up about 2% but, more importantly, homes are flying off the market.

Expert advice (real estate agents, business journals, my barber and my liquor store owner) is all over the map.

So what is happening in your area? Are you seeing an up-tick in homes sales and, if so, is it expected to continue?
 
I am a residential appraiser. House sales are blowing up before they can list it. I work 15 hours a day and stay 10 days behind. With rates below 3 for 1st time ever, it wont be slowing for a while. My 1st house I bought was 8 25%. And I was happy
 
ColoCowboy said:
What's the residential real estate market doing in your area?

Recently, my wife and I bought ranch property in NW Montana with the intention of building a new home next year. We currently own a home in central Colorado, about an hour SW of Denver. By all accounts, the single family residential market is quite hot at the moment. Prices are up about 2% but, more importantly, homes are flying off the market.

Expert advice (real estate agents, business journals, my barber and my liquor store owner) is all over the map.

So what is happening in your area? Are you seeing an up-tick in homes sales and, if so, is it expected to continue?
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Inventory in Denver is fairly low right now as well. I manage MLS data for about 100 markets across the country but live in CO.

A few years back, the Denver area had over 28k listings for sale on the market, today there is just over 14k.
 
DFWJC said:
I live closer towards Lakewood CC.

Yes, the roads are terrible.

May have to grab a cold one sometime!
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Sounds good, I'm working on opening a place off the Sante fe trail in a year or two after the East Grand/Gaston intersection redo is finished and we plan to have cold beer and a fun outdoor venue for adults (sorry no moms and kids day care like other places morphed into). Put a bug in my ear via PM if you don't hear back from me (my memory is going down the toilet)
 
Creeper said:
What is brutal? I live in NJ, the current holder of the title of the most taxed state in the country.
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Oh, no doubt. Jersey, Cali....those states kill their residents with every tax in the book.
I was referring to property taxes only
Definitely brutal here.
 
Well, we put our home up for sale today - I'll let you know how it goes, but judging from the few other homes for sale in our area, we could be under contract in a couple of weeks.

Anyone looking for a mountain style home in the Colorado Front Range?

:muttley:
 
DFWJC said:
Oh, no doubt. Jersey, Cali....those states kill their residents with every tax in the book.
I was referring to property taxes only
Definitely brutal here.
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Still curious. We are considering leaving this state because of the high taxes and other dumb stuff that NJ does. I've been to the Dallas area a bunch of times on business but I can't say I know much about it. I know your gun laws are way less oppressive than here in NJ and home prices are cheaper, plus there is no income tax - a big bonus over my state. We want to "downsize", but in addition to less house, I would want to lower my expenses too otherwise it makes less sense to move. We were looking at Florida, which has no income tax, lower property taxes, and no winters. But Florida has other things we considered negatives to moving there. Texas seems like a place to consider, but it is so big I would have no idea where to start looking.
 
Creeper said:
Still curious. We are considering leaving this state because of the high taxes and other dumb stuff that NJ does. I've been to the Dallas area a bunch of times on business but I can't say I know much about it. I know your gun laws are way less oppressive than here in NJ and home prices are cheaper, plus there is no income tax - a big bonus over my state. We want to "downsize", but in addition to less house, I would want to lower my expenses too otherwise it makes less sense to move. We were looking at Florida, which has no income tax, lower property taxes, and no winters. But Florida has other things we considered negatives to moving there. Texas seems like a place to consider, but it is so big I would have no idea where to start looking.
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Certainly plenty of choices in Texas, but yes, you'd have to do some research.
  • Urban (so, actually living downtown in a large urban area--usually pricey condos, etc)
  • semi-urban (real neighborhoods very near city downtown but not in downtown)
  • suburb (better schools, less crime, but a commute if work downtown and still not much property
  • further out from burbs with more land, (this is where Texas become very affordable)
  • rural (ditto)
  • ranch
The 4 largest urban areas (Dallas/Ft Worth, Houston, San Antonio, Austin) are all fairly different and have their pluses and minuses.
Topography, weather, vibe, sports offerings, etc......all different to some degree.

But people try to stereotype based on their often limited experiences and come up short.

Austin still gets the hip music scene rep, but it's a pretty large urban area now and Dallas, Houston, and SA all have neighborhoods that also fit that description.
Etc
 
DFWJC said:
Certainly plenty of choices in Texas, but yes, you'd have to do some research.
  • Urban (so, actually living downtown in a large urban area--usually pricey condos, etc)
  • semi-urban (real neighborhoods very near city downtown but not in downtown)
  • suburb (better schools, less crime, but a commute if work downtown and still not much property
  • further out from burbs with more land, (this is where Texas become very affordable)
  • rural (ditto)
  • ranch
The 4 largest urban areas (Dallas/Ft Worth, Houston, San Antonio, Austin) are all fairly different and have their pluses and minuses.
Topography, weather, vibe, sports offerings, etc......all different to some degree.

But people try to stereotype based on their often limited experiences and come up short.

Austin still gets the hip music scene rep, but it's a pretty large urban area now and Dallas, Houston, and SA all have neighborhoods that also fit that description.
Etc
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Thanks. I'd be looking more further out from the city than in the city - whichever city it is. I'd also be looking for more land - maybe lots of land. But you are right, we'd have to go there and check it out before making any big decisions.
 
Creeper said:
Thanks. I'd be looking more further out from the city than in the city - whichever city it is. I'd also be looking for more land - maybe lots of land. But you are right, we'd have to go there and check it out before making any big decisions.
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If you have land, the huge Texas loophole is to get a Cow or two. Property taxes drop to next to nothing.
:laugh:
 
Boise area is thriving. They can't build houses out here fast enough. Unfortunately, this also means housing prices are going up significantly. Average cost of a home here was like $200k in 2010. Last I saw that his risen to around $350k. Our main influx of newcomers are from California and they're bringing their pricing with them.
 
ColoCowboy said:
Recently, my wife and I bought ranch property in NW Montana with the intention of building a new home next year.
Click to expand...
Congrats! As is the case for any aspect of the economy, demand is the driving force. Housing demand statistics indicate long-term investments. Comparing population density alongside demand can reveal a lot.

More importantly, sellers are sitting in a pretty good spot, and it's a seller's market in many parts of the country right now. But buyers are having a really hard time in this market due to the pandemic.
 
A house across the street from us went on the market about a month ago. The next day it had a pending sale sign hung up on it.
 
SlammedZero said:
Boise area is thriving. They can't build houses out here fast enough. Unfortunately, this also means housing prices are going up significantly. Average cost of a home here was like $200k in 2010. Last I saw that his risen to around $350k. Our main influx of newcomers are from California and they're bringing their pricing with them.
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Yeah, I hear a lot of folks in Boise aren’t loving it the same way folks in Portland and Seattle don’t love all the California transplants.
 
My house value according to the tax assessor has gone up by 35k since I bought it 6 years ago. RGV Texas
 
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