Happy new year! We’re looking forward to a great 2020 and we’ll be continuing our weekly updates on the Stapleton real estate market every Friday as we’ve always done.
This Friday it appears the market is still in its post holiday haze. (There are only 15 total resale listings in Stapleton right now!) That said, we still have plenty to cover, including info on new build spec homes and a “house hack” idea for those of you that want a new home with less financial risk!
Let’s start with the “house hack” idea cause that sounds fun and who doesn’t want to find a way to lower their monthly housing costs? The idea is to purchase a home that has a mother in law apartment, like these two spec homes available right now from Lennar, and then rent the mother in law apartment out to cover a large chunk of your housing costs.
How much could this save you in housing costs on a monthly basis? Let’s do the math. If you put down 20% and borrow 80% of the purchase your all in monthly costs including debt, taxes, insurance and HOA would be around $3,400 per month. I have a friend renting out one of these Lennar suites for $1,400 per month. So that’s 41% of your housing costs you could save by renting out the mother in law unit. (Maybe you could earn even more if you rent it out short term, but that’s more day to day work and may not be for everyone) For those willing to put in the work this is a great opportunity and the monthly cash flow from the rental could be a huge help later if the economy slows or life throws you a curveball.
If we can help you with this house hack idea please let us know, helping buyers on the purchase of new builds is a large part of what we do and you pay the same price whether you have an agent or not.
Ok, on with the update…
There were only 3 new resale listings this week! That’s not atypical for this time of year coming off new years and we expect listings inventory to start creeping up in the coming weeks. We can think of at least a few that we have coming soon.
Of the new listings from this week the one that caught my eye was the Infinity ranch style home on the South side of Stapleton located at 9135 E 34th Pl. (listed by Pamela Rios with Remax of Cherry Creek). I think the right buyer is going to love the park-facing location, the stunning finishes throughout, the finished basement with guest suite and the low maintenance outdoor space.
With so few resale options currently available in Stapleton many of our buyers are choosing to look for new build homes. If that interests you we have some updates and a few resources to share with you.
As many of you know, the remaining parts of Stapleton were purchased by Brookfield Development from Forest City last year. Brookfield will now be overseeing the build out of the rest of Stapleton and that includes the second half of the “North End” neighborhood. This is the last major chunk of land zoned for residential development in Stapleton and we expect home lots to start becoming available for sale later in 2020. (making likely move in dates starting early in 2021) An exact timeline is TBD, we’re admittedly guessing a bit at this point. At Focus, we’re going to do everything we can to know all about these homes to help our buyers find the lots and floor plans that fit their needs. So, if you’re interested in staying in the know on North End be sure to sign up at homesinNorthEnd.com. If you do we’ll email you updates as we learn more.
Want a new home but don’t want to wait for that second half of North End to come along? If that’s you then you may want to check out the available “spec” homes (homes that are already built or under construction) available from the builders. You can find all the details on that list in this recent post, “Stapleton’s Secret New Home Inventory – Over 30 Spec Homes Available Today” from Mariel Ross with Focus Real Estate.
Hmmm…new builds sound interesting but I don’t really know how they work. Learn more in this recent post titled “How Long Does it Take to Build a New Home in Stapleton Right Now?”.
This week we saw just two Stapleton homes go under contract. One was 8502 E 29th Pl, selling in just 2 days even in the week between Christmas and New Years! Homes that are well staged and priced right move even in the slowest of weeks.
There were 8 Stapleton homes that sold and closed last week. You can peruse those in the link above.
There are a whopping 15 total active Stapleton resale listings right now. That is extremely low and that low inventory level should help sellers out that get their homes on the market fairly early in the selling season. We find that Stapleton is full of go-getters, and if people are going to move in 2020 they tend to start working on that pretty early in the year.
Coming Soon Listings:
Our “Coming Soon” section is on hold for a bit. Colorado real estate laws have changed in 2020 regarding coming soon listings. We’re doing our homework to make sure we promote them in a way that 100% complies with these new laws. The good news is we do have Stapleton listings coming in early 2020…so more on those soon!
That’s it for this week’s update. If we can help in any way my contact info is below.
Our Friday real estate updates are meant to be a “roundup” type post where we discuss all listings in Stapleton, not just our own. It’s our way of making sure we follow the market closely and we share it with the Scoop readers because we know many of you like to track real estate in the area as well. Many of the listings in these posts are not our company’s listings and we wanted to mention that here to make sure it’s clear. Thanks for reading the Scoop!