I think there is a pretty strong special taxing/metro district if you are price sensative check with the county or have your agent send you the information. I had a client who "almost" relocated from California and they were going to buy a house over there on Killarney- they loved the size and lot location. From what Sean says below yes Holiday went out of bussiness and it is an eye sore over there. There is also some other communities surrounding this area that I would advocate, such as Copperleaf and Sterling Hills, there is also Murphy Creek on the other side of C-470 and then down by Southlands Mall, there are some newer and new home sites as well. Many choices really- it will just depend on what you fall in love with when you get here :)

IF you are interested in foreclosures in this area make sure you visit my website-

Thanks and best of luck on your home search!

Its funny I was searching for some rehab homes here and came across this address in qustion?
I have lived in colorado my whole life and love it. Yes there are some areas I would not live in but that is my personal prefrence. I have also lived in the Aurora area all my life as well and dont know what it would be like to live else where in Colorado, Either way, Speaking all of east Aurora seems to be the better naighbor hoods and people keep up on there properties keeping them looking good etc. But you have the same any where else and the same with the struggle. Back to your Qustion and the reason why this address drew my attention is I actually live about Ten-Houses or so down from this address on Killarney and have lived here for almost three years now. My wife and I love the Naighborhood and there is a School K-8 down the street from us that we hope to see out two infant little girls get to go to one day. I dont think I would want to live any where else in Aurora then this naighbor hood. Dont get me wrong sense we have lived here we have seen allot of changes from forclosures to Housing Company Builders go bankrupt as well. There was Holiday homes who built several houses and was in the prosses of building several more houses when they went bankrupt that where and are still left unfinished sitting in lots vacant. A Invester came in and bought up the Unfinished homes and finished the lesser dollar amount ones but the homes that are jus the fraiming are still sitting there left alone for about two years now and the wild life have turned them into there own homes. But these homes are about a block away from us and we cant see them unless we go around the block so there not much of an eyesore just kind of depressing. As four our home value sense we purchased our home it has dropped a little bit but not enough to where I am wanting to move or affriad of loosing money.
Hope this helps you and yes we do live in the naighborhood so you have a opinioun of a naighbor.
Thank You,
Sean

Linda,

The bottom line is that when you buy a home for a short time period it is risky and it is unknown if your value will go up or down. Historically speaking all of the Denver metro areas on average (up until 2004) have an annual appreciation of 7%. By the way, the NAR (National Association of Realtors) economist Lawrence Yun is speculating that the Denver Metro market will see an appreciation in 2009 of 5% or more. Therefore over the long haul you should have value/equity. If you are looking for instant appreciation or the promise of than you probably will want to look in some other areas that may have a little bit better school districts and not as many distressed homes (ie. short sales, foreclosures, HUD homes). The problem is that these distressed homes really bring down the values of neighborhoods and it takes time for the neighborhoods to recuperate.

The bottom line is if you are thinking you will spend 7+ years there then you should be fine and you should have equity when you go to sell. If you are thinking anything less then I would probably look in other areas. Aurora has many nice areas and I feel that the bad areas give the whole city a bad reputation. The other thing about Aurora is it is affordable. If you were to find a comparable home (like the one you are asking about on Killarney) in any other area it could easily be 2 to 3X times more.

I hope this helps. If you want more insight about my 2009 forecast visit my blog: http://www.leslieheldenbrand.com/leslies-blog.asp

Leslie Heldenbrand
720-283-5978
Leslie@LeslieHeldenbrand.com

The funny thing is people will always have opinions. I lived in Celebration, Florida for a while and people on the Gulf and the Atlantic thought we were not as good as they. People on the Atlantic thought the Gulf was bad. Here in the Denver area, people in the foothills might look down upon the rest of us. Commerce City is another area that people immediately turn up their noses to, however Reunion is in Commerce City. The same as Highlands Ranch is in Littleton. People in Reunion don't normally say they're in Commerce City and people in Highlands Ranch don't say they're in Littleton. All of these cities have wonderful neighborhoods, with all of the things we all like...parks, pools, recreation centers, bike trails, shopping, restaurants. They all have neighborhoods that are looking quite shabby too. Pick a Realtor, tell them what kind of house and neighborhood make you happy and let them start emailing you some things to look at. We were very specific in what area we were moving back to when we came back from Florida. We picked Tuscany, which is unincorporated but has Centennial and Aurora boardering it. This is in the 80015 zip code and the Cherry Creek Schools. As Mark mentioned earlier, the 80016 zip code is one of the highest household income zip codes in the area. You may try searching both 80015 and 80016. My husband works at Denver International Airport which is on Pena and it's a very easy commute. About 30 minutes, less if you take the toll road. No sun in your eyes either direction, since it's a north south commute. Remember Denver is one of the sunnies cities in the country, it's something to think about when commuting. The commute from this area to Pena is extremely easy, you can take Tower, Buckley, Chambers or Gun Club. Good luck to you on your search for a new home. Whichever area you pick, you're going to love living in the Denver metro area. I know of quite a few people who have had to move away and just like us they came back quickly!
Sandy Kinslow
Coldwell Banker

Thanks Linda,
You can find all available homes on http://www.kennarealestate.com to help with your reasearch

Thanks again to all of you. I have been to Denver several times before but not to look at homes. We will be coming out soon. My husband will be working off Pena Blvd (I believe that is on the way to DIA). The address of the business is Aurora and I DID know enough NOT to look in north Aurora. I am trying to look at areas that would not necessitate more than a 30 minute commute drive for my husband. I guess I am just getting anxious and of course looking, looking, looking on the internet to see what is available and to be at least somewhat informed before we get out there.

Again, thank you so much for your replies.

Linda

Linda,

The decline in Aurora has been something locals have been watching for years, However the thing that everyone neglects to mention is that Aurora is the Largest city is the Denver metro area. The part of Aurora that has been in Decline the longest is North Aurora. If you look at a Zip code map of Aurora the 80015 area has had less of a decline. The 80014 area has held pretty flat and 80016, one of the newest areas in Aurora is also on of the highest income per household Zip codes in the state, and values have been hit here but not as bad as the north part of Aurora. As for the other cities you have asked about, Brighton and Thornton have both had a lot of decline in pricing as well, although a lot of people would prefer Thornton or Brighton over north Aurora it is all about where you are planning to work and live based upon the part of town. I have sold homes in all of these cities and areas this past year and each one has its own draw for different people. I would do a lot of research on what part of town has what you want. as for the homes price's you will find a lot of difference. A example would be a home in Broomfield that is $400,000 might sell in Brighton for $250,000.00. The same also goes for parts of Aurora, the same home in 80013 might sell for a significant amount more in 80016. ( I had a listing in 80013 that was a Richmond James model. It was for sale for $285,000 and the same house in 80015 was for sale at $350,000) I hope this helps but most of what people say bad about Aurora is North Aurora (anything north of Iliff, some say Mississippi Others will argue it is still nicer until north of 6th Ave) It is all opinion and I suggest you check it out to make sure you make your own choice as to what looks nice and has what you want. I hope this helps!

Hi Linda,
There is no way these days that anyone can tell if the value of a home will decline. Have you been out here to Denver yet to look at areas? Have you checked areas to find the area that you like then when you find a Home that suits your needs have your Realtor check comps. Some areas in the same city my be more stable than others and hold value better than others. Some homes hold value better than others. Homes on good lots with views are a good example of a home that may be more attractive to a buyer when you sell. You can also play with the Trulia for neighborhhood stats to help you feel it out. http://www.denverrealestatesoup.com

The area you are talking in about in Aurora, is likely to hold it's value comparable to the other areas you mentioned. In my opinion, you need to find a home you like, in a location that works for you, and get the best deal on it that you can!

Good Luck