Foreclosure Help Denver
July 24th, 2009
Foreclosure Help Denver
Question: New-built subdivisions with lots of foreclosures?
In Denver we have this large NE part of the city, largely around Green Valley Ranch, that is all newer housing. The area around the houses
is also new... infrastructure, businesses, etc. This is also the only area where I can afford a decent looking home. In my price range of 125K, I can buy in this area, or I can buy a dump in a more established neighborhood, which I won't even consider. Yuck!
What are the dangers of buying a house in a newer built subdivisions
at drastically lower prices than I could find any where else in the metro? How bad of a decision could it possibly be to buy one of these houses, I mean assuming it is in good shape, and not stripped, etc?
It all looks good from the outside when I drive>
Answer: If you don't mind being out there by your little lonesome... then the only thing I would check out first is whether this development was built in a flood plain and is it worth the commute to your job and your old grocery store? (just in case the infrastructure goes bankrupt too).
Here in CA we have this problem a lot. They ran out of room and somehow got the OK to build subdivision after subdivision in the flood plains.
Don't ever think that it will never happen. It does rain in California.
And when your house sits in a designated flood zone... you are just waiting to be washed away one day.
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