What 599k buys in a single-family home in Bayfield, CO

[GON]

Having Colorado in an address really seems to add a super premium, even if the location has little to nothing to offer. Checking out homes in Bayfield, CO- quite surprised this town in far southern CO has prices as high as they are. If this location offered great jobs, or something else- and is out West, I can understand the price. But this location appears to offer next to nothing, except bills for propane and a lot of outlay for fuel to go anywhere.

I think the house is worth under half of the listing price- but I will be wrong and likely will sell in the high 500's.

1355 N Mountain View Dr, Bayfield, CO 81122 | Zillow

1355 N Mountain View Dr, Bayfield CO, is a Single Family home that contains 2241 sq ft and was built in 1989.It contains 4 bedrooms and 3 bathrooms. The Zestimate for this Single Family is $546,400, which has increased by $16,840 in the last 30 days.The Rent Zestimate for this Single Family is...

www.zillow.com

 

[Lubener]

It is doubtful you would know what that area offers, being in Washington and probably never been there in person. Someone in Bayview Colorado might say the same for Steliacoom Washington.

 

[GON]

It is doubtful you would know what that area offers, being in Washington and probably never been there in person. Someone in Bayview Colorado might say the same for Steliacoom Washington.

I have been to Bayfield, and towns in the surrounding area. Gets really cold nights in the winter. But, to answer your post- no I would not need to go to Bayfield to have a gut feeling if the juice is worth the squeeze on housing prices in Bayfield, CO- or many other areas in the USA. Not too hard to figure out what an area offers.

Feel free to post your city and state- I will gladly provide a hasty assessment on your area reference real estate prices.

 

[billt460]

For $268 a sq. ft. that home should not contain a single thread of carpeting. Then, you can go on from there.

 

[GON]

For $268 a sq. ft. that home should not contain a single thread of carpeting. Then, you can go on from there.

That home on the main floor had various flooring, and not for design reasons. Blown away at the Colorado premium that even not so desirable areas are able to command. I get it if one is in Denver, Colorado Springs, glitzy ski resort area. But the entire state gets a super premium.

 

[demarpaint]

Considering what houses go for on Long Island, and what our taxes are it isn't terrible. But I'd wouldn't even entertain making an offer on that house.

 

[Lubener]

I have been to Bayfield, and towns in the surrounding area. Gets really cold nights in the winter. But, to answer your post- no I would not need to go to Bayfield to have a gut feeling if the juice is worth the squeeze on housing prices in Bayfield, CO- or many other areas in the USA. Not too hard to figure out what an area offers.

Feel free to post your city and state- I will gladly provide a hasty assessment on your area reference real estate prices.

I guess I don't see the point in your real estate reports putting down a community with your opinion.

 

[GON]

I guess I don't see the point in your real estate reports putting down a community with your opinion.

There was zero put down of a community. The post suggests that an area with few opportunities for a high paying job, far from a major airport, etc- can command such a powerful price. If the home was near water, a major metropolitan area, or had a unique quality of life- I can understand how that can impact the price of a home. This area does not offer much of those factors.

 

[GON]

Considering what houses go for on Long Island, and what our taxes are it isn't terrible. But I'd wouldn't even entertain making an offer on that house.

I think one of many major differences between Long Island and Bayfield, Co- Long Island has over 100,000 high paying jobs under 50 miles away, many of these jobs one can commute to via public transportation. Lots of other reasons Long Island property prices are what they are. I can't grasp like reasons to justify the price of homes in Bayfield, CO.

 

[Egg_Head]

Appears to have been on the market since mid-July with at least 1 price drop. That tells me it's not priced to the market. The seller must frequent the local marijuana dispensary.

 

[georgemiller]

.

 

[brianl703]

Just looked at the jobs available in Bayfield and Durango. Mostly retail.

 

[mrsilv04]

$268 a square foot for an average builder grade house that is 33 years old is nuts.

In the description, it says it is "well kept". In other words, outside of some flooring and a metal roof, it hasn't seen any updates in the past 33 years. Every house that started out with three-tab builder grade shingles is on its second roof by now. So that *had* to be replaced anyway.

Originally listed at an eye watering $675,000. That's 10% away from three quarters of a million dollars.

 

[skyactiv]

I’m going to post some weird stuff like I do all the time and this probably doesn’t apply to you but may to someone here down the road. Consider how far a home is from food delivery and the growing grocery store delivery. They often have a limited radius. And I’ve said it before and you gave reasons, but you should really consider a custom home. Everything you look at looks like it was a custom home to the first owner.

 

[billt460]

There is little doubt that A LOT of real estate is ridiculously overpriced today. This is reflected in many areas of the country. Not just Colorado. Our home that we purchased just over 3 years ago, had over DOUBLED in price.

I remember if real estate appreciated 6% a year, that was considered a good hedge against inflation. To over double in just 38 months borders on insanity. What's really scary, is there are not only people paying that, there are lending institutions writing mortgages on them.

Didn't any of these nitwits learn anything from 2008?

 

[billt460]

I think one of many major differences between Long Island and Bayfield, Co- Long Island has over 100,000 high paying jobs under 50 miles away, many of these jobs one can commute to via public transportation. Lots of other reasons Long Island property prices are what they are. I can't grasp like reasons to justify the price of homes in Bayfield, CO.

That is yet another issue here. Jobs are somewhat scarce, and not very well paying when you find them. It's mostly retail and service related. There are some construction jobs that pay OK.... But not great. Certainly not enough to equate to the present home prices.

It's pretty much a resort / retirement community. Boaters in the Summer. Snowbirds in the Winter. There is a saying here. When you come, bring your own money. Because there is very little to be had when you get here.

 

[wpod]

The prices seem to be dropping.

 

[GON]

Appears to have been on the market since mid-July with at least 1 price drop. That tells me it's not priced to the market. The seller must frequent the local marijuana dispensary.

I have a distant friend that lives about 20 miles from Bayfield, senior citizen, and a frequent user of the green stuff for medical relief.

The friend has told me that since the legalization of the green stuff- crime skyrocketed in this very lightly populated area.

 

[PimTac]

Just looked at the jobs available in Bayfield and Durango. Mostly retail.

I would guess that ranching is the bigger employer there.

 

[Yah-Tah-Hey]

I have a distant friend that lives about 20 miles from Bayfield, senior citizen, and a frequent user of the green stuff for medical relief.

The friend has told me that since the legalization of the green stuff- crime skyrocketed in this very lightly populated area.

The "green stuff" for me as soon as it's available here. Doctors are so scared of prescribing pain killers for chronic, incapacitating PHN(postherpetic neuralgia/post shingle pain) that I am looking forward to see if it will help.