What am I missing with the listing of this home in Pueblo, CO for 7.9 million

[GON]

We are looking at Pueblo, CO as a possibility to move to in three years (retirement). Pueblo interested us as a lower cost area in the greater Colorado Springs area. All of Colorado is booming, and when the sea rises it lifts all boats, but Pueblo is no Castle Rock, TeleRide, Boulder, etc.

How the heck can this home be listed for 7.9 million. I think a listing 25 percent of that price would be to high....

1615 Augusta Pl, Pueblo, CO 81001 | realtor.com®

View 69 photos of this 5 bed, 10 bath, 12290 sqft. single family home located at 1615 Augusta Pl, Pueblo, CO 81001 on sale now for $7900000.

www.realtor.com

 

[Vern_in_IL]

Colorado is world-famous for its hiking, skiing, drugs, and exceptional scenery.

 

[RoadDukie]

Hey, at least it's not in Dalhart like the last one you posted.

 

[atikovi]

$7.9M and only a 3 car garage? I'm out. At that price it better have at least 50.

 

[Malo83]

And not even an acre lot size.

 

[JavierH19]

What are you missing? Brain damage.

But just walk down the street in san fran to get it for free.

 

[HonorAndHonesty]

Like I tell my wife, if a place has expensive real estate or rents there is one reason why. People want to be there. People may laugh, mock or pick apart high cost of living areas, but at the end of the day its expensive because enough people think its worth it, therefore it is.

Honestly the only reason I am where I am right now is I cannot afford to move somewhere better for the money, If I could I would in a heartbeat and never look back. One of those places would be Colorado!

I remember visiting Colorado almost 20 years ago and was enchanted by it. We even looked at some homes, homes we couldn't afford and this was in an affordable part of Colorado at the time.

Of course im sure the houses we looked at are worth double or more now!

 

[mightymousetech]

12 THOUSAND sq.ft? Is it a house or a community center? God that’s tacky.

 

[Wolf359]

We are looking at Pueblo, CO as a possibility to move to in three years (retirement). Pueblo interested us as a lower cost area in the greater Colorado Springs area. All of Colorado is booming, and when the sea rises it lifts all boats, but Pueblo is no Castle Rock, TeleRide, Boulder, etc.

How the heck can this home be listed for 7.9 million. I think a listing 25 percent of that price would be to high....

Naw, I think you're off. It's probably worth at least 3 million, new construction is at least 250 or more a square foot these days, maybe even high due to material costs and higher labor costs. That puts you over 3 million plus the value of the land.

 

[GON]

Naw, I think you're off. It's probably worth at least 3 million, new construction is at least 250 or more a square foot these days, maybe even high due to material costs and higher labor costs. That puts you over 3 million plus the value of the land.

Yes, I am off... can't figure this one out. Kind of like if this home was in Pittsfield, MA ... what would it be worth? Would you still value this home at 3 million plus if it was in Pittsfield, MA? My gut is this home was overbuilt for Pueblo, so there is a limit on what the home would be worth/ appraise at.

I know Colorado is smoking hot...... but so is California and I don't think this home would list for 7.9 million in Compton. Move this home to Orange County and may be a steel at 7.9m

 

[Warstud]

Did you see the comps ? or the birds eye view of the other homes . Maybe that's why IDK

Address	Estimate	Bed	Bath	Sq Ft	Lot (sq ft)
This Home: 1615 Augusta Pl, Pueblo, CO, 81001	$7,900,000	5	10	12290	37897
1628 Augusta Ct, Pueblo, CO, 81001	$746,800	2	3	4328	16793
1612 Augusta Ct, Pueblo, CO, 81001	$1,250,200	2	5	7439	24003
3843 Augusta Ln, Pueblo, CO, 81001	$762,900	2	3	5023	11347
3833 Augusta Ln, Pueblo, CO, 81001	$1,059,200	3	5	5744	10999
1629 Augusta Ct, Pueblo, CO, 81001	$1,412,900	4	8	9060	32526

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[97prizm]

What are you missing? It's a 12,000 square foot home. Granted it doesn't have much land but yeah that looks normal for the size

 

[samven]

There is ASKING and then there's GETTING. In this market who knows but its never a good idea to own the most expensive house in the neighborhood. There is only 1 real comp and thats 3000 sqft smaller with 1 fewer bedrooms and 2 fewer baths , but 6.5 mill cheaper.

 

[andyd]

House lots are tiny in Boulder

 

[Dave Hess]

12 THOUSAND sq.ft? Is it a house or a community center? God that’s tacky.

Yep, someone with money just had to build the biggest house in the neighborhood.

 

[Warstud]

There is ASKING and then there's GETTING. In this market who knows but its never a good idea to own the most expensive house in the neighborhood. There is only 1 real comp and thats 3000 sqft smaller with 1 fewer bedrooms and 2 fewer baths , but 6.5 mill cheaper.

Yea...something isnt right with the pricing. I guess if your not interested in that 7.9 million house then why bother wondering why it's so more than the others

 

[Wolf359]

Yes, I am off... can't figure this one out. Kind of like if this home was in Pittsfield, MA ... what would it be worth? Would you still value this home at 3 million plus if it was in Pittsfield, MA? My gut is this home was overbuilt for Pueblo, so there is a limit on what the home would be worth/ appraise at.

I know Colorado is smoking hot...... but so is California and I don't think this home would list for 7.9 million in Compton. Move this home to Orange County and may be a steel at 7.9m

When things are priced over 2 million, there's lots of wiggle room in the price. I do see listings once in a while where it's overpriced by 2-4x times and you hear that the buyer just hopes that there's someone crazy enough to buy it. What ends up happening is that no one ends up buying it.

 

[KJSmith]

You can list for any price you want.
Doesn't mean it will sell.

Are you sure you want to live on the front range?

 

[atikovi]

Yea...something isnt right with the pricing.

We don't know the whole story. Maybe it has gold plated faucets or marble ceilings. In other words, if it cost $7M to build, the price might be fair.

 

[SatinSilver]

First listed for 7.9 on 8/20. Taken off market recently then relisted again for 7.9. So its been sitting awhile with no price reductions.