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Major Price Reduction – Aurora Colorado Home For Sale
Mar 7th 11
4054 South Atchison Way, Aurora, CO 80014
Asking $221,900
Over the top total remodel from top to bottom. Must see at this price and location. Ride your bike right into the Cherry Creek State Park.
Check out the video of this sweet home in Aurora Colorado.
New Price on this Aurora Colorado Home For Sale!
Jan 3rd 11
For a showing or additional information Call Steven Beam at 303-941-4663. Realtor, CRS.
Who controls appreciation in your neighborhood?
Sep 23rd 10
Home Appraiser
The wonderful new system that our government has forced upon us is the HVCC. Home Valuation Code of Conduct. When you combine this with appraisers that are incapable and or incompetent then boy do you end up with a cluster… I’m not going to go into the full details of the HVCC but I did add a link above that you can go read and learn.
Here’s my story I wanted to share about my experience and how I believe the current new system is setup to:
- Prevent natural appreciation of a home, neighborhood, city or area.
- Allows appraisers, underwriters and banks the ability to control appreciation and market value in our real estate market versus the buyer and seller.
- Completely removes “Market Value” from the real estate industry. Market value being defined as what a ready willing and able buyer has agreed to pay a ready willing and able seller.
I have a seller that purchased a home next door to his mother. He bought the home years ago at a very low price and totally gutted the property. He took it down to the studs and replaced everything from the electrical system to the roof to the floors, kitchen and I mean everything. It was basically a NEW house. There is not an old surface in the house. He did the same on the exterior. It was a CLASSIC over improved property for this neighborhood. He knew this and was reasonable in his understanding that he was not going to get all of his money back out of this property. Not even close. He was probably going to be forfeiting $50,000 or more from what he had in the property but it was all fine. He used and enjoyed the house for several years while living next door to his mother when he was in town. He has several other homes in other states and travels almost constantly. Got the picture?
So we listed the house $60,000 under what he had in the house. When we originally talked about listing the house last year there were several arms length closings and a few foreclosures and of course the short sales closings. We had comps that were going to be about $25,000 less than what we were going to list for. I seriously didn’t think it would be an issue once the appraiser and bank saw the comps and the upgrades in this home. I figured we could garner at least $25,000 for the more than $100,000 he had put into it.
Once we listed the house with it’s upgrades and ideal location it was an immediate showing success. We secured an offer within about 2 weeks and agreed on a contract price which was about $5,000 under asking. All was good and we were trucking to closing.
Weeks later I met the appraiser at the property and handed him some comps and the full list of everything that was done on the house. Showing the over $100,000 in repairs and upgrades that he could easily see and touch.
Then the bottom fell out.
Even though I had a comp (that he used) that sold for $20,000 more than this house he said our house was only worth EXACTLY what the last foreclosure in the neighborhood was worth.
How is this possible?
How can a remodeled home be EXACTLY worth a trashed out foreclosure DUMP?
I called the bank the other broker and the lender. They all agreed that their must be a major issue. We were over 20% off the contract price. This has never happend before to me, the buyer’s agent or the lender. What was going on? Lots of questions to be answered. How could a comp that sold for $20,000 over this one not matter?
The buyer really wanted this house and was still willing to proceed so we waited several days for an appraisal review. At this point the seller and the buyer agreed that as long as they got it close we would all do whatever we could to make it happen.
Oh yes it came back the same. No change at all. Didn’t even add one cent to the appraised price. Basically a dead deal at this point…No hope.
The underwriter, lender , buyer, seller and both brokers all agreed that the appraisal was wrong but the controlling forces wouldn’t change the price.
Obviously I believe the appraiser was so inept and a major idiot probably with an axe to grind so he took it out on this seller and buyer. Maybe he was so freaking stupid and scared to lose his license he wouldn’t step out on a limb and give the property a true value. I think a lot of it has to do with stupidity and laziness in the industry. He knew he was getting his check from the bank so what the heck. Why should he do any extra work and try to determine the real value of the house with it’s upgrades. WTF? Lazy, lazy, lazy.
Market Value = what a ready willing and able buyer is willing to pay a ready willing and able seller.
Market Value = What we the appraisers fell like valuing your house for on a particular day if we feel like working that day.
This just lets us know that if the appraiser and bank don’t want your neighborhood to appreciate it ain’t going to happen.
So maybe all the people fixing up their homes right now should NOT do it? Are home remodels a total waste of time and money?
With a system like this neighborhoods cannot appreciate.
Details:
List price $265,000
Contract price: $255,000
Over $300,000 in the house for the initial purchase and remodel. Top of the line beautiful remodel. Move the house across the reservoir into Greenwood Village and it would have sold for $400,000 +.
Comps. #1 = $283,000, #2 = $205,000 and #3 = $212,000.
The house appraised for $205,000. REALLY? What a dumb-ass.
I feel better now at least I got this off my chest.
Home for Sale-4056 South Atchison Way, Aurora, CO $197,000
Aug 9th 10
4056 South Atchison Way, Aurora, CO 80014
Home for Sale
$197,000
4056 South Atchison Way, Aurora CO
Check out the Video below!
- 3 Bedrooms, 3 bathrooms.
- Unfinished basement
- 2117 Sqft.
- Cherry Creek Schools
- Formal dining room.
- Here is the MLS Sheet
- Need to Contact Steven Beam? Click Here!
Click here to see 4054 South Atchison Way that is next door. This home is also for sale.
Aurora Colorado Home for Sale – 4054 South Atchison Way 80014
Jul 27th 10
Aurora Colorado Home for Sale
Everything in and out of the home has been replaced with new materials. An American Home Shield Home Warranty has already been purchased for the new buyer.
See the Virtual Tour of 4054 South Atchison Way, Aurora Colorado
Asking Price $221,900
3 Bedrooms and 3 bathrooms
- Base (wide) Moldings, trim
- New carpet throughout house
- Solid doors throughout house
- New hardware throughout the house
- New windows through out
- New Furnace & AC
- New vents and registers throughout house
- Tankless hotwater heating system for entire house
- Interior paint – three tones (trim, walls, ceiling) throughout house
- Entry – custom front door, 18” tile flooring, new lighting (flush mount & spot lighting)
- Kitchen – 18” tile flooring, cabinets, coffered ceiling, recessed lighting, granite tile counter tops, new stainless steel appliances, stainless steel sink & faucet, new disposal, custom window coverings
- Front Porch – off of kitchen, manmade weather proof materials, lighting
- Dining Room – 18” tile flooring, new light fixture
- Family Room – new carpet, lighting, gas fireplace w/ remote controls
- Downstairs Bathroom – tile flooring, new shower, new vanity, new toilet, new sink/
- faucet, lighting, fan, added door to patio, oversized mirror
- Downstairs Bedroom – new carpet, lighting, doors, window, custom window treatments
- Wet Bar – converted downstairs laundry room to wet bar w/ dishwasher and beverage cooler
- Basement – finished basement w/ recessed lighting,windows, custom cabinetry for
- CD’s, videos and albums. Laundry room and utility room.
- Upstairs Master Bedroom – carpet, doors, custom (remote control) window coverings, Biometric in-wall safe, ceiling fan, lighting
- Master Bathroom – tile flooring, new doors, new vanity, new sink, new faucet, new toilet, new shower, new lighting, custom closet organizer, oversized mirror
- Master Bedroom Exterior Deck – rebuilt using weather proof, zero maintenance man made materials
- Guest Bedroom – new carpet, new doors, ceiling fan, lighting, window, custom window coverings, in-wall safe
- Guest Bathroom – new tile, new tub, new shower doors, new vanity, new sink, new faucet, new toilet, new window, recessed lights, oversized mirror
- Upstairs walk-In Closet – new door, new carpet, custom closet organizer, new light
- Garage – new garage door opener w/ exterior touch pad, lighting, paint, painted flooring
- Exterior paint – two tones
- New Roof – asphalt
- New gutters and down spouts
- New mail box
- New sprinkler system + water lines run to all pots on patio’s
- New landscaping front and back yard
- Rod Iron – fence & gate to backyard
- New cable for TV
- New Phone lines
- New landscape lighting
- Updated electrical service
- Updated switches and outlets throughout the house
NEXT DOOR! For Sale-4054 South Atchison Way, $197,000.
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- Wet bar
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- Patio
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- Master
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- Master Bedroom
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- Master bath
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- Breakfast Nook
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- Kitchen
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- Family Room
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- Family Room
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- Patio
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- Backyard
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- Dining Room
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- Formal Dining
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- Deck off Master bedroom
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- Guest Bedroom 1
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- Guest Bedroom 2
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- Guest bath 2
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- Guest bath
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- Hot Tub
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- Aurora Colorado Home for Sale
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- Aurora Colorado Home for Sale
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- Aurora Colorado Home for Sale
Douglas County Colorado Young and Wealthy
Lone Tree Colorado Homes For Sale
Pradera Golf Club Home Sales Report
488 Oakland Street Aurora Colorado Home for Sale
Nov 30th 09
Aurora Home for Sale $215,000
MAP of 488 Oakland Street, Aurora, CO 80010
Listing Price $215,000
Three bedrooms
Two Bathrooms
Park East Neighborhood
Video Below
Features Include:
- Fully finished basement with game room, media room, fireplace, office, kitchenette, rough in bathroom and a workshop.
- New roof has been approved by insurance company and will be installed soon.
- Great Mature Neighborhood
- Newly refinished hardwood floors.
- Brand new concrete patio with awning.
- In-ground sprinkler system.
- Two fireplaces
- Large front and back yards with mature landscaping.
This video was taken prior to most of the work being completed. Use and open mind and come see the finishes for yourself.
For rent in Aurora Colorado $975 – 2 BR
Oct 6th 09
For rent in Aurora Colorado
Steve Beam
303-941-4663
[email protected]
Sent from my iPhone
Posted via email from stevenbeam’s posterous
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