How fast is the market moving between Denver and Boulder? Just ask Kimberly Karsell and R.D. Baker at Latitude at Vista Ridge, off Colo. 7 in Erie. Thumbing through the last 10 contracts for low-maintenance ranch homes they’ve sold, they count five buyers who saw their former houses in areas like Broomfield and Boulder County go under contract in less than five days. Only one buyer of the 10 took a full month to sell their prior home.
Meanwhile, the low-maintenance, single-level living that those purchasers are after has become harder to find and is rising in price. “There are so few patio ranches out there, particularly ones that provide maintenance,” says Karsell, who will have carnations and some refreshments out for Mom this weekend. Some builders have sold out of available lots, she notes; others have ranches on the way, but not with the lock-and-leave features that Latitude offers with all of its homes.
“We’ve worked very hard to keep our prices in check,” adds Ward Ritter of Chartered Homes, Latitude’s builder. “But buyers who wait are likely to see significant increases in new home prices.” Labor costs, he says, are rising as material costs increase and spot labor shortages are reported. Chartered has seen average prices of its ranch plans at Latitude rise an average of $25,000 over the past year – and has a price increase scheduled for June 1.
That will drive up the price of a St. Andrews ranch that’s in final trim, on a site backing to Vista Ridge open space, listed right now at $420,186. It has just over 2,900 square feet of finished space, including dining and great room area overlooking the trail corridor; private master suite; finished basement space for added entertainment area as well as storage; and three-car garage.
That big ranch is one of eight Chartered has started for delivery between late spring and early fall this year. Although prices on those are headed up, Latitude has held the line on monthly HOA fees that cover the extensive community amenities at Vista Ridge, as well as for those maintenance services: $128 per month for front-yard landscape maintenance and snow removal, as well as for Vista Ridge’s two community pool and tennis areas and trails that connect across Colorado National Golf Club, one-quarter mile to the golf clubhouse, where residents find a grill, bar and other attractions.
You can also see two near-term ranch opportunities, ones that would give you more time to plan a move: Chartered has two attainably priced Pinehurst ranches that you could buy now and lease back to the builder for use as models. (One will be ready for move-in midsummer, the other available for early 2014 occupancy.) Prices on those two start at $306,295. And Chartered has other plans from $252,000 – leading into a range of options for creating highly personalized spaces, even moving walls to substantively customize your home – way, way beyond what larger builders are willing to do in the
way of changes.
But time is running out, Ritter says: Chartered has already sold 34 homes in the past year, and has 32 sites remaining, including some backing to the golf course.
There’s no age requirement at Latitude. To reach from Denver, take I-25 north from 120th Avenue 7 miles, just past E-470 to Colo. 7; then head west 2 miles to Vista Ridge’s entry at Mountain View. Or, from Boulder, take Baseline Road east 13 miles.
Mark Samuelson writes on real estate and business; you can email him at mark@samuelsonassoc.com.You can see all of Mark Samuelson’s columns at DenverPost.com/RealEstate. Follow Mark Samuelson on Twitter: @marksamuelson
if you go …
WHERE: Latitude at Vista Ridge, three ranches on view; low-maintenance plans by Chartered Homes, golf and amenities; lock-n-leave lifestyle; no age restriction; three-car garage option, finished basement standard, carnations and treats for Mom this weekend. 1920 Windemere Lane, Erie; Colo. 7 at Mountain View Boulevard (Vista Ridge entry nearest I-25). Take I-25 north one exit past E-470 to Colo. 7, west 2 miles to Mountain View; or from Boulder, take Baseline Road east to Mountain View
PRICE: From $252,000, on golf lots from low $300s
WHEN: Today, Saturday and Sunday, 10 a.m. until 6 p.m.
PHONE: 303-828-5442
WEB: