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

[GON]

Here is a 599k home overlooking the Arkansas river in Lamar, AR.

https://www.zillow.com/homedetails/...720&utm_medium=email&utm_content=forsaleimage

 

[GON]

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.

YTH,

Very sorry you are in chronic pain, that is horrible and hope you find some relief.

 

[GON]

And a few after notes- As pointed out this home has been on the market- and there looks like a few better buys in the area. I had looked at about a half dozen homes in the Bayfield area that aligned with this home price/ condition wise. I took a second look and found some better valued homes, but still a very high premium for an area that seems to understand the pricing.

 

[SubieRubyRoo]

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?

But also don’t forget that nearly 5 million homeless people have been added in the last 2 calendars, they have to live somewhere. Nobody can build that fast, so the supply tightens automatically…

 

[GON]

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.

SA,

At this moment I am at 35k feet about 400 miles east of Hong Kong, I will arrive San Francisco in about ten hours. Then catch a flight to Seattle. get my luggage, Uber home. I expect to get home about 1230am Sunday morning. Home for 18 days, then leave on Thanksgiving Day back to Asia till mid-December. This appears to be the pattern of my future schedule until I retire in AUG 2024. My schedule makes buying a home a challange. And my Wife is getting upset over the entire retirement situation- she is now saying we should just move to Denver to be near the grandkids. Neither of us has ever wanted to retire in the Denver area.

I know you posted as a suggestion for all- thanks. For me, near impossible for me to have a custom home built on a tight budget not being local to the build out. If I had deep pockets- yes feasible, but my pockets are not deep.

 

[SubieRubyRoo]

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.

It’s not even necessarily that they’re “scared”… I have a doc buddy who would happily write me anything I want for my pain… it’s that in 2010, there were some major changes made to what they can actually do by law. Now my buddy said that unless he actually performs surgery, he cannot prescribe any opioids, and even if he does it can only be 4x/day for one week. Otherwise he risks his license and jail time that were previously reserved for pill factory docs.

 

[alarmguy]

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.

Check out what Levitt homes go for now! It makes the OP Co house look like a bargain.
Typical Levitt home tax, as small as the homes are, 9, 10, 11, $12,000 a year
https://www.zillow.com/levittown-ny...onId":62232,"regionType":7}],"pagination":{}}

 

[demarpaint]

Check out what Levitt homes go for now! It makes the OP Co house look like a bargain.
Typical Levitt home tax, as small as the homes are, 9, 10, 11, $12,000 a year
https://www.zillow.com/levittown-ny...onId":62232,"regionType":7}],"pagination":{}}

I'm familiar with prices on L.I. My house IMO is worth stupid money, even after the recent fall. If I had to buy it now I couldn't afford it. LOL

 

[GON]

Check out what Levitt homes go for now! It makes the OP Co house look like a bargain.
Typical Levitt home tax, as small as the homes are, 9, 10, 11, $12,000 a year
https://www.zillow.com/levittown-ny...onId":62232,"regionType":7}],"pagination":{}}

AG,

You know the score- you are no dummy... very far from it.

Like or hate the greater NYC area, those Levitt homes are under 50 miles from:
Over 100,000 high paying jobs
Over a dozen of the best hospitals in the world.
Three major airports, two of the airports have a vast amount of international flights
a half dozen top 100 universities
public transportation

I could go on and on- but the Bayfield home offers not one of the above, yet a choice in any of the categories

 

[alarmguy]

AG,

You know the score- you are no dummy... very far from it.

Like or hate the greater NYC area, those Levitt homes are under 50 miles from:
Over 100,000 high paying jobs
Over a dozen of the best hospitals in the world.
Three major airports, two of the airports have a vast amount of international flights
a half dozen top 100 universities
public transportation

I could go on and on- but the Bayfield home offers not one of the above, yet a choice in any of the categories

Agree but others wouldn't live there for any amount of money.
Many who do, are trapped there. High paying jobs, I guess but the cost is you live in a smaller home on a postage size lot and everywhere you want to go you sit in traffic, so your standard of living is lower, though because you make so much more money, you think its higher
I guess all relative to what people want, spent 40 years of my life from the time of birth there. Im an expert

More or less, there is opportunity anyplace in this country for a hard worker. Try to get a small business now a days off the ground on Long Island, I think Demar might agree, the costs will kill you before you can turn a profit.

 

[LowMilesLesabre]

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.

Those two things may be related or not. Correlation is not causation.

 

[Dave Hess]

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.

I agree with you.

A $600K custom house built to your standards might be better than trying to find a house that you really don’t like.

 

[GON]

Th

Those two things may be related or not. Correlation is not causation.

The distant friend went into detail on how the legalization brought the crime. It attracted new people looking to grow and related activities tied to the green stuff. Discovered that water is a very pricey resource, and other issues in Southern Colorado. So instead on being in the green business, they transitioned to the stealing and related business.

And a side note, my distant friend owns a 1,000 sq ft basic home of five acres. They don't own the water rights on their land- they can't even collect the rainwater off their 1,000 sq ft roof into a barrell- someone else owns that water from the sky landing on their property.

 

[DwightFrye]

The prices seem to be dropping.

Prices are dropping all over, including here in insane California. In the nicer areas, homes had been appreciating over 15% a year for the last several years. The median price of a home in this state was just recently an eye popping $830k but is expected to be more like $759k in 2023.

You can attribute the price reductions to the current interest rates.

 

[GON]

Prices are dropping all over, including here in insane California. In the nicer areas, homes had been appreciating over 15% a year for the last several years. The median price of a home in this state was just recently an eye popping $830k but is expected to be more like $759k in 2023.

You can attribute the price reductions to the current interest rates.

That home selling today in California- with the prices dropping. Are California homes selling for more or less than they were selling in JAN 2021??? I have yet to find a single chart to show a year over year price drop in the USA for single family homes.

In fact- I have seen some areas in the Midwest that did not appreciate like the homes in California, Arizona, Utah, etc- with price increases over AUG 2022. I don't know if it is a fluke or a trend, not enough sales to make much sense of it.

 

[CKN]

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?

There will not be another 2007/2008. That's the difference. The dynamics are totally different.

 

[CKN]

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.

I would agree. Even though I don't partake of the green stuff on any level-there still seems to be a stigma for using it for legitimate medical reasons-because many think it's just an excuse for using it for recreational purposes.

Hope you feel better.

 

[CKN]

Everybody seems to think they have a degree in social economics, criminal justice, or mind reading and seems to know exactly what ills society in their particular locale. Maybe-but often it's more complicated than that.

 

[aquariuscsm]

I don't like the western motif at all.

 

[aquariuscsm]

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.

A good friend of the family had developed really bad copd in her later years. Medical marijuana was the only thing that took took the pain away.