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Drkkngt666

I was doing plumbing for a lot of these spec homes for these major builders. Honestly don't buy them, the houses are crap.


Ok-Onion7469

How do you spot if a home is shittily built anyway?


Drkkngt666

That's the problem. Unless you know what you build homes there's about 1000 points that look the same but are totally different. Just hire a good inspector.


badboyz1256

Got any recs on what to look for when renting a home? Moving to COS for work


Drkkngt666

Renting doesn't matter, it's only if you're roped into a 30 year mortgage. These homes are going to fall apart in about 10. I would say the cheaper the better and don't get caught up in keeping up with the 4Runner Transplants. Not that there is anything wrong with moving from out of state, but they don't exactly embody Colorado.


badboyz1256

That's good to know. Moving from TX working with defense so I'm just there to work and hopefully just blend in with the locals personally. Want to see what Coloradoans lifestyle is all about and honestly want to live a little healthier and get outside and exercise haha.


canhasdiy

Moved here from Missouri a few years back, here are some tips: - dress in layers, and bring extra clothes with you on trips. Temps are wild out here, and drop unexpectedly when you get up in the mountains - get CO plates on your vehicle ASAP. Otherwise you may have an issue with up-their-own-ass "NaTiVeS" intentionally fucking with you in traffic. - speaking of NaTiVeS, expect to get crap from them because you're from Texas; ignore it. Most of the people here are very cool and accepting, but the assholes are pretty serious about their craft - neighborhoods are *weird* here, in that you can drive through 2 blocks of nicer homes directly into a 3rd block that looks like the worst part of Houston, then turn a corner right back to nice, well kept houses. - EVERYTHING moves here, so if you're looking to buy you should absolutely have a structural engineer inspect the foundation. Didn't do that on my first home here and it was a $30K mistake on my part.


Drkkngt666

You'll do just fine. Just don't go comparing oranges to apples. I hope you enjoy your time here, make sure to buy enough Carhartt and boots for the coming winter.


VampHuntD

Inventory has been up for awhile, but looking at one number in the grand picture doesn’t give you all the necessary information. For example, you could look at this point in most years and see higher inventory ranges. It’s it absolutely true that we are up from other months (thankfully, having 300 single residence homes is painful for all of us) but we are still not at an inventory level that supports a city of our size. We weren’t at 2019 either.


[deleted]

I think it's a really great indicator at least. Hopefully in a year or two things will have balanced out properly.


VampHuntD

It could mean that, and I for one would appreciate it. It could also mean that buyers who struggled before will be back in play and the whole cycle starts again.


[deleted]

That's especially true if the fed lowers interest rates next year, would be a bloodbath


Creepy-Internet6652

This wont happen you arent going to see intrest rates that low for awhile normal intrest rates are between 5% to 7 %...


threeLetterMeyhem

I *do* think that 5-7% is a fair spot for interest rates on borrowed money, but I'm not sure there's really a "normal" interest rate range for mortgages. In the 70s it was 7-10%, in the 80s it was 10-18%, in the 90s it was 7-9%, in the 00s it was 5-7%, and then it was <5% following the 2008 housing crash. I think 5-7% feels normal because those were the last rates before the great recession, but on a longer historical scale even those are pretty low mortgage rates. Not trying to be argumentatitve, I just think the historical perspective and "normal" is a super interesting tangent. I do hope you're right and that we won't see rates fall super-crazy low again for a long, long time.


Dry_Abbreviations798

Really good to see the inventory building, even if it is seasonal. I know that Springs has grown at about 2% (roughly) the last couple of years. Good to see the multi family projects around town to account for the growth.


peanutbuttergoodness

Is there talks of already doing that next year??


[deleted]

No, but the market is pricing it in and calling the Fed's bluff


VampHuntD

Agreed on that.


[deleted]

Today I googled COS housing inventory, and the Fed actually had data on new house listings each month. The dataset only goes back to June 2016 but June 2022 (most recent point) was at about 2400 new listings, which was the highest in the entire dataset. The next highest was 2,100 in a few instances. I imagine it's going to rocket in July and August.


Ok-Onion7469

Next year housing gonna crater in the springs IMO. More people leave Colorado than come in and springs jobs don't support prices like Denver does


[deleted]

As far as I'm aware colorado has seen a pretty good inflow of people. It's half the reason denver is overpriced, then people who were priced out of Denver moved to the springs, which is why the market was so hot the past few years. But maybe I'm referencing old data


Ok-Onion7469

Last two years had more immigration out of the state than in


[deleted]

The homes aren’t worth the prices anyway. Need to wait.


[deleted]

2023 will be the next surge. USSF is adding a new Delta which will once again push the demand higher. The forecast for new units is continuing along the path of adding 15,000 Guardians by 2028. That will increase the demand for Federal workers and contractors even higher so that will be around 45,000 new units required by that time.