Sloans Lake Denver Homes have seen a lot of interest from buyer and sellers the past couple of weeks. As Buyers continue to far outpace Sellers, we are checking the inventory of Denver Homes every day, watching for properties as they are entered into the MLS. As we were researching properties for one of our clients, we created this report and thought it may help some of you in the market.Recent Market Stats: There are Currently 35 active Sloans Lake Homes on the market. There are currently 1366 active Denver Homes on the market. Right now, there are 61 under contract Sloans Lake Homes on the market. Right now, there are 2181 under contract Denver Homes on the market. There are 6 Denver foreclosures on the market. Average prices increased $82,140.00 over the last year from $495,002 to $4...
By Cory Fitzsimmmons, Realtor - Denver, CO ReThink real estate group
(ReThink Real Estate Group)
St. Anthony Central Hospital site refurbishment, Sloans Lake, Denver, The site of the former St Anthony’s Central Hospital has recently been purchased by EFG-South Sloan's Lake I LLC, and there are plans underway to refurbish the site. St. Anthony Central Hospital housed a 19 acre lot just south of Sloans Lake for 119 years, but moved to a lot more than twice the size in Lakewood two years ago. The old lot has sat vacant and untouched until recently. A building plan for has not yet been finalized, but the site will definitely be used for housing. Ideally, 2 high rise towers will be built to house luxury living lofts, similar to those located across the from City Park in downtown Denver, however the current zoning of the area only allows for buildings 5 stories or less in hei...
loan Lake Real Estate Values Over the summer (June 15th to September 15th) the Sloan Lake neighborhood in Denver had an average number of houses on the market of 49. During the "high selling season", Sloan Lake residents sold 18 homes, and listed 41 homes. During the same time period, the average time Sloan Lake real estate was on the market was 89 days. The shortest time on market was 46 days, while the longest days on market was 178 days for properties sold this past summer. Finally, the average listing price in the Sloan Lake neighborhood of Denver this summer was $199,900. The highest property sold at $429,000 and the lowest sold for $79,900. The Sloan's Lake neighborhood association actively promotes the urban living style of Sloan Lake. You can read...
Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Sloans Lake area in Denver. What this investment is: Purchasing a small home in an expensive neighborhood that may or may not need work. The home is bulldozed and a new home or duplex is put on the lot. Alternatively, the existing home is renovated and more square footage is added on. A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite). Equity needed: Being able to document your income and your assets will be critical. For a commercial loan, your net worth should generally be at least as much as the loan you are seeking. The good news is that the comm...
Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Sloans Lake area in Denver. What this investment is: A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium. Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area. Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes. Ideally suited for the sophisticated investor with extensive experience. Equity needed: Being able to document your income and your assets will be critic...
Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Sloans Lake area in Denver. What this investment is: Purchasing a home that needs work. The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over. Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible. Great for beginners with the right skill sets or the willingness to learn. Equity needed: With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too. Expect a LOT of strings to be attached. A small local lender might give you 75% of the purchase price and the renovatio...
Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Sloans Lake area in Denver. What this investment is: A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant. The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame. Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease. If you purchase the property, then it's an easier process; if you find a highly motivated seller ...