All Forum Posts by: Mitch H.

Ran across a listing recently which was a 3br/2ba.  2/1 on main level and 1/1 in the basement.  Kicker is that the basement has a fully equipped kitchen as well.  I am a wannabe househacker so this is pretty intriguing to me.  

There is no true separate entrance, but the entry to the basement is the same breezeway as the back door to the main level.  Seems like adding a legitimate (fire?) door would do the trick nicely to make it feel like a separate unit. 

Has anyone gone through something similar? Wondering how to legitimatize it into a true second unit?  Zoning concerns, legal/permit costs? 

Located in a urban residential neighborhood of Denver.

Also was surprised as I read this.  Some real (estate) nuggets in there.  Very interesting how high vacancies are in 'luxury' or simply newer product.

I assume vacancy rates were also pretty low for ALL "older" product, but I suppose it could be an anomalous and misleading statistic.  

Awesome, love projects like this and looking forward to seeing it come together.

Did you look in the RiNo/Brighton Blvd areas?  I imagine everything up there might be too pricey already?

Haha @Bill S. absolutely.  Simply a "FWIW" comment.  

It now seems to distill down to one thing, which I agree with.

At some point, condos will be built again.  I think it is in the best interest of some to keep the status quo, but in the best interest of MANY (including local gov't) to restart the condo construction market.

This is one track on my quad track plan. Cheap, simple, straightforward condo in an A location. A non-HOA property would be nice, but given my market and parameters, I'm just not sure that's going to happen.

I always thought it was on your income alone.  However, a recent lender I spoke with said that was not the case (for that lender), and that they would perform a market study for the units and loan on that.  

They basically gave me the green light to spend whatever I wanted (so long as it was under the Jumbo line).

Seems a bit fast and loose to me.

Totally hearsay, but an agent friend of mine said her lobbyist friend said the current bill would die in the house because the house speaker is extremely against it.

Interpret at your will.

@Gordon Weakliem thanks for digging into the legal text.

Status quo:  We have a 6 year buffer for the new/coming luxury "apartments" being built to be converted to condos.  

If the law were to change tomorrow, in favor of condo construction, we could see condos hitting the market as soon as is reasonable.  

So if the reform passes, will there still be a 6-8 year buffer before we see a huge deluge of Condos come online? Or will developers start planning (or convert in-process projects) and building Condos almost immediately?

I think this is my main concern.  My price point is <$250k.  It feels like all the current "apartments" being built are luxury and RIGHT downtown.  These two factors mean that they will likely sell for $300K+.  Its hard to discount a general slow down in appreciation simply due to the economics of increased supply, but will I really lose a lot of value or have trouble selling my condo if in fact the new product is simply a different market?

I seem to remember @Bill S. having some interesting thoughts on this.