Dan Polimino gives a spotlight on a new development in Douglas County called Sterling Ranch.
He'll also be discussing new construction communities and the rules you should be using when deciding to invest in real estate.
00:02 Hi everyone and welcome to today's show of Ask the Colorado Dream House Team. I'm your host Dan Polimino and I'm coming to you live from Denver Colorado every Tuesday and Thursday giving you great real estate advice and information if you're new to the show well welcome.
00:17 We like to give you good database driven information and just pull on all of our years of experience in selling homes and again pass that along to you no matter where you are in the country. As always we'd love for you to participate in the show you're more than welcome to ask us a question and leave it right here on Facebook. We'll take those questions and maybe use them in a future show. Or you can e-mail us or call us with your questions about buying selling or investing in real estate and of course if we can help you we'd love to do it.
00:50 A few things we like to accomplish every show which is to give you some good market information that you can use. And to answer your questions. So let's kick it off with what's happening in the market. Well for the last year now I keep driving by this new development out in Douglas County called Sterling ranch. And for the most part they've been very very busy putting in the roads in the sewers and the infrastructure and starting to get the model homes up. And today I went out there because I knew that the majority of the model homes were now open and I wanted to take some time just to tour through all of the homes there and just take a look at the products being offered and all of the amenities. And I you know the only thing I can say is wow. It's amazing.
01:36 If you've never been out to Sterling ranch you might want to take a ride. It's thirty four hundred acres of development. Now they're only starting with Phase 1 which is about 800 homes. And there are eight builders in there with 18 models. So a lot of Aints there eight builders 18 models to choose from 800 homes in phase one of a nine phased development. So how long will it take to complete Sterling ranch. About 20 to 25 years. We've got a lot of work to do there. And again they're going to finish the first phase move onto the second phase until they have all nine phases of the development done. Now you're asking Dan Where is it.
02:22 So you go to Santa Fe and Titan road its west in south if you live in Highlands Ranch it's about 10 minute drive from Highlands Ranch again kind of the major intersection in Santa Fe and tighten road when you get off at that exit.
02:39 If you look west you'll see all of the construction and all the development going on. Now when you go out there there is an information center that you can stop at. Will kind of give you an overview of what's going on for the whole development. And then if you drive through what they did was kind of cool. They put all 18 models in one square block. So it's a literally a square and you start at the corner of the square and you go all the way around and you look at all 18 models and figure out which builder and which home you like. And of course pick out your lot. The next question you're going to ask me is about lot sizes and yes they range small in a lot of cases as small as 5000 square feet. But there are some lots there as big as 15000 square feet if you're looking for a little bit more space.
03:29 One of the questions about certainly ranch has been about the water. Some people thought there might be a water problem in getting water out to this new development. Well Sterling ranch negotiating water from Aurora from Denver and from Castle and they developed an entirely new water district called Dominion's and the short answer is there's plenty of water. So you shouldn't worry about that. However there is a cost associated with that. I'm told when the first day you walk in the door of your new home. Water's going to cost you a minimum about$100 a month. OK. And then how much you use past that. Could be more. You could be looking at a water bill that's 150 or 200 dollars a month. You just need to know that.
04:15 However there are some things that may offset this. For instance there is no H way feet. In Sterling ranch which is pretty good because some people pay a lot of money in H-2A fees. I know we pay over 500 dollars a year in each of. So that's something to consider. There is so much to tell you about in sterling ranch from the Paramount center to the lake being built. To the you know to the to the miles and miles of open space and parks.
04:45 I hear that there's going to be roughly 800 acres for open space. So a lot to go over. Make sure you take a real tour with you if you decide to go out to Sterling ranch. Give us a call. It costs you absolutely nothing to take a realtor. And in fact if you don't bring a realtor to the equation. The builder does not give you a discount. They just keep that money. They've already built our realtor Commission into their price. So if you don't use a realtor they're just keeping that money. All right. And we can help you out with a lot of great information about which house to pick which lot and what one has better resale value and finishes and color schemes and layouts. So make sure you talk with us. I hope that's helpful. Next Thursday we're going to talk about a new development coming in Highlands Ranch called crescendoed so make sure you tune into the show on Thursday questions.
05:41 The Colorado dream house team. How do I stay up on NEW construction communities that are up and coming. Answer. You work with a professional like us. It's our job to keep up on NEW construction communities and tell you what opportunities are out there so you know find a realtor that you like and trust and stay in touch with them and hopefully they'll do a great job and be on the look out for you. There are a few other ways if you go to Colorado are either for real estate or Colorado that's the consumer side of the MLS. You can click on new communities right down there and a lot of home builders are putting all of their product there for you to take a look at.
06:19 And of course you can go to each builders Web site and figure out where they're building as well. Your Colorado Dream House team how many homes do you recommend we see before writing an offer. That's entirely subjective. You know I tell people you know. When it's the right one when you walk in. Right. I mean you just have the feeling that that's the right one.
06:43 That could be you might have only seen two homes you might have only seen 20 homes. There's no numbers specific. When you walk in and you know it's the right one. Go ahead and write the offer. I've had clients write the offer on the first house they saw and they walked out and said we don't need to see anymore and I wrote the offer on the first property. OK. The color of a dream house team what are the rules you use for investing in a property. Well there are a lot number one location because it's the first real real estate. Do I absolutely love the location. And do I think that this has a good it's a good area for appreciation and has a great opportunity to resale. I want to look at what the House backs to make sure it doesn't back to a busy road or power lines or something that might inhibit the appreciation and the resale of the home.
07:32 In addition I'm looking for at least three bedrooms. I'm looking at the cash flow as well. So I'm checking out what the homes of that size are renting for. On average I'm comparing that rental rate against how much the mortgages. And I'm seeing if there's a little cash flow each month. These are all things that I'm taking into consideration when investing in a property obviously condition is another factor. How much work has to be done how much money has to be spent how much time do I have to hold the property to maximize my investment. All things that we can help you with if you're thinking about investing in real estate. All
08:12 right. Last but not least before we go I want to tell you about a new home that's coming on the market or just came on the market on Friday. We pull out the high tech white board. It is 13:31 south. You went to court in Denver great house brick stucco three car garage five bed four bath 5000 square feet 4000 finished. But here's the here's the best part. Main floor master. There are so many people looking for a main floor master. This has it on suite. It's got a finished walkout basement. It's got a big backyard. So. Check it out. You can go to Colorado Dreamhouse dot com forward slash in winter. Or you can call your real estate agent and set up a showing. I think you're going to love it. Check it out. All right. Next Thursday we're going to talk about crescendo look at another property to feature and more to come on real estate news. Everybody have a great week.