@Jay Hinrichs the euphoria of a monster flip can wear off quickly, considering that one of those good ole boys went BK about 3 years later in the largest individual BK in country history.  

You'd be right if you were investing because of market euphoria and you're trying to get in and out and make your money before the market collapses.

I expect a massive stock market rally over the next month which should contribute to a feeling of euphoria for luxury home buyers.

I love the aged listings for this reason, the euphoria is over and they are pleading for something to go to owner with and justify. 

Find out exactly what you want your ROI to be.3- They caught up in what I call the "Flipping Flu" where the euphoria of looking at a +50k  check clouds their mind to the fact they had to work 3-5 months to get there.

It would be rented a small handful of times per year (SXSW, ACL, F1, Euphoria mainly).

After 4 years of that, there is generally 14 years of price growth with the last two years called "the winner's curse" where the market sees euphoria, lots of buying and real estate speculation.

@Scott Trench have to agree with @Chris Martin  here though I will say I do understand what you are trying to say and I know people who did buy in the height of the euphoria and actually have made a boatload of money here in NYC because while what they bought was overpriced at the time it has only gotten worse, maybe Denver will be the same no one knows and that is the problem no one knows.  

I got this one Grohe Euphoria system for free from Home Depot thanks to my writing gig with them, but you can get non high-end versions of the same European system on Amazon very cheaply like this one: Bar Wall Mount Shower SystemThese are more difficult to install , but when something goes wrong, you don't have to get into the wall to fix them.

Once, or even while, you have reached this state of euphoria, join your local REIA and get involved!