Saddle Rock Real Estate

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While 2008 may go down as one of the worst years for US real estate and some Denver sub-markets, Saddle Rock real estate seems to have weathered the storm significantly better than many other areas.

In the first half of 2008 there were 175 homes sold in Saddle Rock at an average price of $319,157. These homes were sold after an average of 125 days on the market and with an average seller concession of around $3000.

In the second half of 2008 there were 152 homes sold in Saddle Rock real estate at an average price of $300,418. These homes were sold after an average of 106 days on the market and with an average seller concession of around $3000.

While a 6% drop in the average price occurred during 2008, this was accompanied by a drop in the number of days on the market and an apparent peaking of lender owned sales in Colorado. When the mix of properties sold is considered, saddle rock real estate’s performance begins to look even better.

As the table above shows, the majority of the sales drop-off was in the $500k+ price range. This is consistent with the trends we’ve seen in the broader Denver market and suggests that a large part of any drop in prices can be attributed to a change in the mix of homes being sold, rather than any significant drop in underlying values. This is reinforced by the unweighted average price per square foot only dropping 3% (from $132.40 to 128.40).

We expect the trend of poor sales above $500k to continue during 2009 and weigh on the average prices being achieved in Saddle Rock real estate. However, the underlying value of homes below $500k seems to have been relatively unaffected by the broader real estate market malaise. Buyers looking for bargains in higher end homes are likely to see results through short sales and lender owned purchases in 2009.

As the Denver market strengthens during 2009, you can expect Saddle Rock real estate to continue to show the resilience it showed during 2008. If you are a seller this should encourage you to market your home with confidence, while buyers can purchase knowing there is an outstanding foundation for the price they pay.

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The Saddle Rock community was designed with the goal of offering a range of saddle rock homes that would allow buyers at different price points to enjoy the area’s open space, views, golfing and overall vitality. Over the years, this has meant the neighborhood has enjoyed the offerings of several builders (including US Homes, Richmond, Ryland, DR Horton and several others) and continues to offer attractive options for buyers with budgets starting in the low 200s or going as high as $900k or more.

Saddle Rock Ridge offers many of the more affordable saddle rock homes. Most homes in this area start in the low 200s but you will occasionally see sales below this price. The basic models will all have two car garages, a minimum of three bedrooms and over 1350 square feet of living space (excluding any basement). There are four level, ranch and two story homes, with the majority of homes being two stories. It’s not uncommon to have finished basements so the majority of homes for sale have over 1800 square feet of living space. 

Saddle Rock Highlands is a little north of the rest of the community but has Saddle Rock homes that start in the mid to high 200s. Floor plans are predominantly ranches and two stories, and tend to have at least 2000 square feet of finished space but often 2200 or more. Two car garages are the norm but you will find the occasional three car garage. Saddle Rock Highlands offers very easy access to E470 and the Southlands shopping complex.

Saddle Rock Golf Club is the majority of the Saddle Rock homes and community and has the smaller groupings of Saddle Rock North, South, East and the Ranches. The entry level homes in this area tend to start around 300k and, although there are some two bedroom homes, tend to have three bedrooms, 2800 finished square feet or more and a two car garage. Saddle Rock North has a good range of more expensive homes (starting around $350k and ranging all the way up to $900k or more). Three and four car garages are more common, mountain views are coveted and square footage can reach 6000 or more.

This quick overview of the Saddle Rock homes and surrounding neighborhoods should give you some confidence that, if you’re looking for a home near a golf course, with plenty of open space, in one of the top school districts in Colorado, Saddle Rock is definitely worth your consideration.

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With a spectacular golf course and plenty of open space as the centerpiece of its community, a Saddle Rock home provides one of the premier locations in Denver’s Southeast. It boasts easy access to E470 (and therefore DIA), Southlands Shopping Center and the Cherry Creek Trail system, and is situated in the coveted Cherry Creek school district. The majority of homes span a price range between $200k and $900k ensuring a healthy mix of affordable and custom housing options.

When examining why so many people have chosen a Saddle Rock home, the keyword is “choice”. A Saddle Rock Home offers a wide range of floor plans, prices and selling points all underpinned by an active HOA and a pool community. While a golf course that was rated one of Golf Digest’s top ten new public courses is a great attraction, Saddle Rock home buyers often view this as “icing on the cake” when choosing to settle here.

Over one third of Saddle Rock is dedicated to green areas – parks, hiking and biking trails and the golf course. Islands of homes are interspersed within this greenery to ensure all corners of the community enjoy the fruits of the land plan created by David Clinger (an award winning environmental planner). With established trees and a vibrant local community, it’s not surprising that a Saddle Rock Home remains one of the most popular choices in the area.

The rolling hills of Saddle Rock create many opportunities for spectacular views of the Front Range. Whether you’re sitting on the deck of a higher end Saddle Rock home, wandering the trail system or chipping in from off the green, you’re never far away from a reminder of the breathtaking beauty of Colorado.

If you’re considering a move to Denver (or just to the Cherry Creek school district), a saddle rock home is definitely worth your consideration. It offers both affordable and custom housing, locations on or near the golf course, and a wealth of choices regarding square footage, garage type, basement type, basement finishes, lot size – you name it. All of these choices come with the certainty that you’ll be living in a vibrant community offering great schools, great neighbors and a part of Colorado you’ll be proud to call home.

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