$185,721

VF Corporation, the parent company of The North Face, JanSport and Smartwool, announced this week the company is moving its headquarters to Denver along with 800 jobs. The jobs have an average salary of $185,721. Read that last sentence again. Who knew jobs in the outdoor brand industry paid so well?

Those moving to Denver will need a high salary. A study published by Lending Tree ranked Denver 10th on the list of cities with the highest percentage of homes that exceed a million dollars in the U.S. According to the study, owning a $1million home in most cities gives one bragging rights. This is no longer true for the cities on the list. Most of the $1 million homes in these cities look nothing more than ordinary. This is true for Denver too.

An example is shown below. This charming 1950’s ranch home has two bedrooms and 2.5 baths in its 2,200 sq.ft. The house sold for $1.2m in 2017. After sitting empty for six months it was sold a second time for $1.5m. The house has since been torn down to make way for the new owner’s dream house.

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The Next Victim

The owners of this house have decided to tear it down and start over. They were contemplating an extensive remodel and addition, but instead, have decided to scrape it off. They’ve lived in the neighborhood for twenty years and plan to finish out their lives in the new house. At least it’s not another spec home.

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One Year & $4m Later

This two-bedroom house sold in March of 2017. It was torn down in July of 2017. One year after demolition and $4m later ($989k for the old house and another $3m for demolition and construction of the new house), the new house has been completed.

It’s a four-bedroom, two-story dwelling with a little over 6,000 square feet. The house is a lot bigger than it looks in the picture. The owners moved in a few weeks ago but I have not met them yet. They are both orthopedic surgeons so I’m sure they can afford the house.

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There’s A New DILF In Town

After torturing the neighborhood with an eighteen-month renovation, the family across the street listed their house for sale. The house was pulled from the market after a month. Six months later the house was relisted at a slightly reduced price. The house sold in two weeks.

On Saturday, the family moved out. There was no going away party. No neighbors wished them well. The general consensus was all were glad to see them go as they were a constant interruption to our quiet neighborhood. There was a revolving door of guests and cars. Even though they built an underground garage, their five cars were almost always parked on the street. I think I heard a chorus of angels singing when the moving vans drove off.

I was mowing the yard yesterday afternoon when the new owners arrived along with the movers. They’re a young couple with two young daughters. I did not introduce myself as there was an army of movers trying to get the family settled. I noticed the woman was stylishly dressed for a moving day. The man looks like he knows the inside of the gym very well along with being very handsome. There’s a new in DILF in town and he lives across the street. I think I heard another chorus of angels singing.

Later that evening, I was talking to the woman who lives next door to the new neighbors. She also a handsome husband. She told me she was waiting for the new neighbor to strip off his shirt and jump into their pool so she could get a better look. Her house sits higher on the hill so she has a prime view of the pool. She agreed to invite me over if she sees him in the pool. Now, that’s a good neighbor.

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Good Luck Selling It

Six years ago, this two bedroom house sold for $510,000. It was torn down to make way for new construction.

The new house was under construction for almost six years. The house has finally been listed for sale. The two-story 9,863 sq. ft. mid-century inspired house has seven bedrooms and nine and a half baths. The house is listed for $5.75m. Personally, I like the house but I think it’s on the wrong lot on the wrong street. This is going to be a hard sale. The house is on a street where most expensive house sold for $2.5 million. It’s on a corner with one street having heavy traffic. This house is on a third of an acre lot. The other houses in the neighborhood that sold in this price range were on acre lots and had at least 10,000 sq. ft. This house will probably sit on the market for a year.

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World Travelers

My neighbors across the street took their three kids to the Olympics. They returned home yesterday. Their nanny and a tutor also accompanied the family on the trip. Later this month they are going to Paris for spring break. I wonder if these kids realize how fortunate they are to have parents who give them such wonderful experiences.

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Professional Thieves

The president of the homeowner’s board sent an email this morning alerting residents of a house break-in.  The news comes just two before I leave for Santa Fe.  The details lead one to believe this was a professional heist, as opposed to a smash and grab for easily fenced items to get money for drugs.  The alarm system was disabled, the most valuable items in the house were taken, along with the removal of a wall safe.  The thieves also stole a Range Rover from the garage leaving behind a Porsche Panamera and BMW 5 series.   The thieves knew the location of the valuables and the wall safe, which leads one to believe the house was cased, or, it’s an inside job.  The house is across the street from the rich guys’ mansion which is still being renovated.  There’s a fleet of trucks on the street every day so pedestrians would not be suspicious if the thieves arrived in a work truck.

I really don’t have anything to worry about while I’m away.  I have aging electronics.  I don’t have a safe of any kind.  My art isn’t valuable enough to steal.  I don’t live on street filled with multi-million dollar mansions.  Most of my assets are financial instruments.  I guess I do need to worry about identity theft and financial cyber crimes.   I’ll just bury those thoughts for now.

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