Friday, August 10, 2007

2827 Umatilla Street, whats wrong with this picture?




I know I shot into the sun.
This 897sf condo sold 08/31/2006 $1,125,000
that is only $1,254sf? WTF!?
previous sale 12/15/2004 $629,412 or $701sf
There is no great view, this is insane..
The sales of these condos never made it to the MLS.
What is wrong with this picture???

6 comments:

Anonymous said...

I believe the price is for more than one condo. See ZILLOW info on
2827 Umatilla St. Denver CO 80211.
seanpj

Bubblewatcher said...

http://www.denvergov.org/tabid/37889/Default.aspx?link=http://www.denvergov.org/apps/realpropertyapplication/realproperty.asp&title=Real%20Property

STRAIGHT FROM THE HORSES MOUTH, Denver Gov. THIS TO BE 2,300SF, My OTHER 2 DATA SOURCES SHOW IT TO BE 900SF WITH 900 SF BASEMENT.Zillow is very unreliable.

Anonymous said...

can't trust Zillow.

Zillow is a suckers game.

SAS

mol_in_co said...

posted this on another blog:


Every few months I start looking at real estate again, and all I see is overpriced crap.

I try bringing up housing prices to my homeowning friends, and they tell me there’s absolutely no way central Denver real estate is going to crash. Limited supply, everybody wants to move downtown, etc etc.

I’m no economist, and I don’t know as much about financial matters as a lot of posters on this blog. But I do know that something is off when you can rent a nice apartment for $750/month, and the building next door offers condos (the same size) for $190K+. The people who live in the bungalow houses in my neighborhood seem to have a middle-class existence (lots of teachers, some techies like me, etc), but they have fancier cars (his and her Land Rovers, for example), etc. The average house price in my neighborhood is about $350K. You could probably rent that same house for $1500 - $1700 per month.

It’s also discouraging to go over to a coworker’s, and see their beautiful new house, with all new furniture, pool table, 2 new fancy cars, boat, etc. I knew I was slightly underpaid, but I didn’t think I was by *that* much. Again, something doesn’t smell right.

Tyrone said...
This comment has been removed by the author.
Tyrone said...

mol,
There is gobs of news information on Denver. It will not be immune. It has suffered from the same loose lending practices that every other city has experienced. The next 6 months are going to be very interesting.
Check the following sites and review the news links, daily:
housingbubble.com
http://ml-implode.com/

You can get a great sense of the market by scanning what is going on throughout the county, and the world. Yes, the world is suffering from our pathetic lending standards.

BTW, your instincts are correct--something is NOT RIGHT.