News & Notes from North End 5.1.19
We just wanted to reach out and touch base with some updates on North End and real estate related news around Stapleton in general.
Sorry you haven’t received too many North End updates from us over the last month. Spring is here and that means the real estate market is in full swing. We’ve been out working with buyers and sellers who are looking to make their move and be settled in before summer.
Here’s the latest and greatest on “North End”:
Homes in North End are selling fast!
Builders like Parkwood Homes and KB Home are close to running out of lots in certain series. Last I heard Parkwood had one single family lot left and KB Home only has one Starlight collection lot.
That’s not to say all builders are running low, many of the builders still have lots but they have been moving quickly. I suspect in most collections you’ll have available lots through the summer but many of the more desirable floor plans and lots are getting taken by the buyers who are acting.
I attribute the brisk sales pace to a few different things:
1) The market still has low levels of housing inventory overall so buyers aren’t finding exactly what they want in the Stapleton resale market.
2) Buyers are starting to see the end of the road in terms of having a chance to build their own unique home in Stapleton. There isn’t much left of the neighborhood to build (more on that in a minute) so buyers who have always wanted to build a new home are recognizing now is the time.
3) North End is really cool! The area will have tons of open space (way more than usual in Stapleton because they found some bedrock where it wasn’t feasible to build homes), there are lots of mountain views, the area will have the largest pool in Stapleton and once completed you’ll have two elementary schools, one middle school and a high school that you could easily ride a bike to!
The second half of North End may not come on-line for a while:
The good news is there are going to be 600-700 more Stapleton homes built in the second half of North End that’s not even released yet! The bad news is we’re not sure when those will start to be released and we suspect many of the current builders likely won’t be involved in that last phase. Brookfield, the development company that recently purchased the remainder of Stapleton from Forest City, is also a builder and we think they’ll build their own homes on a good portion of the remaining lots. (therefore eliminating some of the current builders from the mix). We don’t know that for a fact, that’s still speculation. We’ll have to wait and see how it turns out but this change in developer could make getting this last chunk of North End off the ground a little slow. We’ll share more as we learn it.
Denver’s troubles in their Income Qualified Housing Program are Affecting Stapleton
If you were thinking about building an income qualified home in Stapleton, such as these ones offered by Thrive Home Builders, it may be a little harder than you originally thought. The program has some big issues right now which is making it really hard to qualify. This is putting the brakes on these homes from being built in North End until the issue is resolved. Learn more here in a Facebook Live video I did with Stephen Myers from Thrive Home Builders.
Lennar just released lots in their “Generations” Collection in Stapleton!
The Generations collection offers buyers a unique opportunity, a chance to buy a home and have a “mother in law” suite attached. Perfect for a nanny, teenager, guests, or a mother in law of course. You can check out the plans and pricing here. Like what you see? The model home in North End is now open at 5668 Dallas St.
Here’s a few more resources before we go…
If you read this far in the email you must be thinking about building a new home. (or you just really love to be in the know!) If you are thinking about a new build you may enjoy this recent blog post from Mariel Ross on our team. It gives her 4 best tips for being prepared for your pre-drywall builder walk.
If you’re interested in Stapleton real estate in general, you’ll likely find value in our weekly Stapleton real estate update we do each Friday. Check this one out that I just did. It has details on 20 new Stapleton listings this week & details on our coming soon listings. This Week In Stapleton Real Estate
To see more videos & stay in the loop on all things Stapleton head over to the Stapleton Scoop Facebook page.
Lastly, if you’re ready to get your Stapleton move going and you’d love some one on one attention we’d love to chat!
