Hey guys, My wife and I just came back from Castle Rock and are considering buying a new house in the Meadows development. Not sure if we would move from So. Cal. or rent out the place. Anyone have any opinions on the area? How do you think the values will do? Let me know what you think. Thanks Henry
I live east of there about 10 miles in Franktown. Prices in Colorado have not risen as much as most of the country in recent years, but I am always wary. In the 1980's prices plummeted here. My wife's condo that she paid 64K for new in 1981 was worth about 35K 8 years later. Now it is worth much more, but things can get dicey. One of the problems with Castle Rock developments and Douglas County in general is the reliance on deep wells for water which are dropping, and water rates are getting higher all the time. The Rocky Mountain News did a series on this earlier this year which you may be able to find on their website if interested. We live on 5 acres with our own well which is no problem. Other than that, Castle Rock is as good an area as any. Dave
I've lived in Colorado since 1979. If you're in it for the medium to long term, I think Castle Rock is a really good choice. I had a business there for several years and witnessed steady housing and commercial real estate growth. Having said that, the market may be a little soft right now. So, check with a reputable realtor for the latest data on housing starts, recent sales and year over year price appreciation. I'm sure you've seen that data where you live and it is available here from any competent agent. Good luck and welcome to Colorado!
Here is a little info for you about the market there Searching A .......... 1096 RESIDENTIAL Properties analyzed in 0 second(s) PRICE DATA FOR 14 LISTINGS. LOWEST HIGHEST AVERAGE MEDIAN MODE VOLUME 237,900 570,000 347,714 333,900 No Mode 4,868,000 AVG PRICE/SQFT: 139.61 Searching S .......... 5689 RESIDENTIAL Properties analyzed in 3 second(s) PRICE DATA FOR 50 LISTINGS. TOTAL DOM AVG = 78 LOWEST HIGHEST AVERAGE MEDIAN MODE VOLUME 209,900 495,000 294,540 289,249 225,000 14,726,997 AVG PRICE/SQFT: 141.28 SOLD 212,200 482,500 291,749 286,500 375,000 14,587,450 AVG PRICE/SQFT: 139.94 PRICE DIFFERENTIAL SOLD TO LIST PRICE 99.1% SOLD TO ORIGINAL PRICE 97.0% That days on market scares me of over 78 days. Many home there have had no increased in value in over 5 years so, yes if the long haul you are looking for great place for larger homes for the money. Dont expect any gains like Cali anytime soon. Hehe Brent Henry Green Tree Real Estate Chief Appraiser/Managing Broker
I live in Castle Pines Village which is a subset of Castle Rock. I like Castle Rock but when I moved here I should have looked at more areas. After living here awhile I like the areas of Cherry Creek and Evergreen. But a very nice house in those areas would be $1.5m and up. We get more snow in Castle Rock than in the city of Denver. The last storm a few weeks ago Denver got rain and we got 12 inches of snow. Hardtop mentioned water shortages. My water bill ran $300-$500 per month last summer. Home appreciation sucks in Colorado. A few months ago USA Today newspaper ranked Colorado 47th for home appreciation. Only Mississippi, Louisianna, and Texas were worse. I used to live in Los Angeles and I regret not keeping our home there and renting it out.
