Baker is located in an "Urban Pioneer" neighborhood near downtown. Beautifully renovated properties are mixed with some homes that are eyesores. Crime rates are higher. And, prices now are soft. While downtown prices have continued to escalate even in our software market, less desirable neighborhoods have actually depreciated in value. That is the usual trend in Denver during a slow real estate market.
When I first got into real estate in 1978, the Baker neighborhood was going through a rejuvenation. But our real estate depression in the 1980s quashed that. By 1990, property values have declined significantly. If the overall real estate market does not recover in the next few years, neither will prices in Urban Pioneer neighborhoods.
In my opinion, the best investment in this market is in the best neighborhood. That is where I would suggest looking.
I'm on the board for The Denver Center for International Studies http://(www.cisdenver.org) and always take every opportunity I can to educate people about the school. It is a grade 6-12 Denver Public Schools magnet for International Studies. We offer 5 languages and are looking to add Arabic as the 6th language in the near future. This school also offers its students opportunity for travel abroad during their time there and focuses on creating global citizens through learning about other cultures and volunteerism. DCIS has a 100% graduation rate and a 97% college placement rate. This school located at 6th & Fox is definitely doing positive things for the neighborhood! Wait until we finish our landscaping... it will be a mini UN right in the Baker Neighborhood!
My families first home was in the neighborhood and my daughter was born there. And I am familiar with Denverâ€™s Historic Districts.
With all of that said fundamentally the Denver market appears to be in good order as compared to many other across the country. There are many leading indicators pointing to stronger appreciation rates here as compared to many other places. Every neighborhood is different and if you are seeing prices trend upward then you should at a minimum feel better then if they are going the other way.
In addition to an investment a home is a place to live and in my opinion it must meet that quality first and foremost.