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Old 06-22-2011, 12:38 PM
 
Location: Greenwood Village, Colorado
2,185 posts, read 5,017,632 times
Reputation: 1536

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Someone mentioned University Hills in another post. What's going on over there? It looks like they are tearing down the old houses and replacing them with million dollar homes?
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Old 06-22-2011, 12:50 PM
 
Location: Denver, CO
3,530 posts, read 9,724,254 times
Reputation: 847
That's been going on for a looong time now. People are "flipping" the old decrepit homes and making lots of $$ on the resale. We wanted to buy in that area but it's really not for us - the cost and what you get for it anyhow. I think U. Hills is the next Cherry Creek.

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Originally Posted by Cupcake77 View Post
Someone mentioned University Hills in another post. What's going on over there? It looks like they are tearing down the old houses and replacing them with million dollar homes?
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Old 06-22-2011, 01:55 PM
 
Location: Greenwood Village, Colorado
2,185 posts, read 5,017,632 times
Reputation: 1536
it's a great area but those houses have to go and dirt cheap just to buy one. I wouldn't mind buying one of those houses, tearing it down and building a cool house there. I talked to a broker today about that area so we were going to drive over there late afternoon to look at some properties. Would be a great side project for me.
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Old 06-22-2011, 02:16 PM
 
Location: Denver, CO
3,530 posts, read 9,724,254 times
Reputation: 847
We just couldn't swing it. We already have a mortgage, upside down due to the foreclosures and short sales in our area. So we'd have to somehow get rid of it and then take on the added cost of tearing down and building a new one. The cost would be high.

Also, we were looking at totally run down houses that were $275K and up, not exactly dirt cheap.
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