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Jennifer, Home Buyer in Colorado

Is Westminster real estate a good area to invest in? Declining market?

Asked by Jennifer, Colorado Wed Jun 4, 2008

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Own it in a Real Estate Trust or an LLC ( if allowed in your state). You alone can be the manager or trustee and beneficiary. check with your attorney for local rules, but the LLC is inexpensive to set up.
Web Reference: http://www.pawtuckaway.com
1 vote Thank Flag Link Wed Jun 4, 2008
Obviously this question was posed awhile ago. Right now, 2014 is a great time to invest. Some of the benefits to investing in real estate are: Cash Flow and Tax Deductions. Westminster is a great area to invest in with the new development of the Westminster Center http://www.westminstercenter.us/ The area is only going to get better!
0 votes Thank Flag Link Thu Apr 3, 2014
Some parts of Westminster are very viable for investment purposes. Certainly northern areas along Sheridan, 104th, and on up to Broomfield are still considered desirable places to work and live.
0 votes Thank Flag Link Wed Nov 6, 2013
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We're hearing more and more that this will be a very active year.

Jennifer, congratulations if you acted the advice you sought out here.

Sweeping statements generally are not helpful. A big part of the real estate market has belonged to the investor in recent years. People who have higher net worth believe in acting before the crowd arrives. For my area and Westminster, there are going to be opportunities - some better than others. You need a guide, Jennifer. That's what we do.

There are flipping opportunities as well as great rental opportunities out there.

Hope that helps.

SuZ
0 votes Thank Flag Link Tue Mar 27, 2012
Dear Jennifer,

There are always good pockets to invest in whether it be Westminster, Thornton, Arvada or Denver as long as the numbers work for your investment strategy.

I'm not sure I would agree that we are in a declining market however as our data shows that our Denver Metro market is quite stable. We are a little short on inventory in the below $400k price point but other than that, neither the buyer nor the seller have the upper hand which actually makes us feel normal.

I don't see investors doing quite as many fix-n-flips, however there is a great market for buy and hold property.

Let me know if you have any questions at all and feel free to use my website to search property.

http://www.brookehengst.com

Thanks,
Brooke Hengst
REALTOR, CDPE, The Elite Team
Your Castle Real Estate
(720) 988-5952
bhengst1@gmail.com
http://www.brookehengst.com
Web Reference: http://www.brookehengst.com
0 votes Thank Flag Link Mon Oct 10, 2011
Here's a good website for Westminster listings.
It's a great area, with a new development preplacig the old mall.
0 votes Thank Flag Link Mon Oct 10, 2011
Hello Jennifer,

We cannot say what interest rates will do one way or another, there have been several predictions over the last several months and interest rates are still low today.

Westminster can be a good place to invest even in a declining market if you are refering to renting it out. If a home is able to cash flow from renters it isn't necessarily hurt in a declining market.
0 votes Thank Flag Link Mon Sep 27, 2010
Jennifer, if you'd like statistics that show what the market has done over time in Westminster, I'd be glad to provide them to you. The truth is, Westminster is like any other city. The market over all in the city doesn't tell the story of the market in each individutal neighborhood or development. So, it's not fair for you if you're only looking at the market valuations in the entire city as each neighborhood is it's own market has it's own characteristics regarding holding value or not.
I'll happily help you if you'd like specific neighborhood analysis to answer your question.
0 votes Thank Flag Link Mon Sep 27, 2010
There are plenty of good opportunities to get a deal in Westminster, Colorado. There are still short sales and foreclosures and because of the unemployment issues nationwide, its a challenge to find any city where there are not some declining values. The thing is, by the time you wait out the valuation issues, interest rates will be higher and the actual monthly cost to own that Westminster property may be the same as if you bought now instead of waiting until there is no market decline taking place. And during that time, you will be enjoying your own home instead of renting or staying with family.
Web Reference: http://www.greghagan.com
0 votes Thank Flag Link Sat Sep 11, 2010
Yes, Westminster is a great place in 75%. Like all towns there are areas that are not holding there value. Use a realtor to help you to decide.
0 votes Thank Flag Link Wed Jul 28, 2010
For relatively cheap, you can lock in the home value so you don't have to worry about declining prices - there are several national firms now that offer home equity protection - you essentially get a check for the difference if the home declines in value.

http://protectyourhomeequity.com
http://en.wikipedia.org/wiki/Home_Equity_Protection
http://icf.som.yale.edu/home_equity.shtml
0 votes Thank Flag Link Mon Jul 7, 2008
Hi, Jennifer!

I own two rental homes in Westminster. I bought them four and five years ago, hoping to hold for five to ten years and sell at a profit. Well . . . . that hasn't worked out! But I've learned a lot. I agree with other answers, that we expect things have or will soon hit bottom, so holding on to the properties for awhile has to be an option.

The most interesting thing to us has been the drastic change in the rental market. One or two years ago, when one of our homes became vacant, we knew we'd be making the payment for two or three months in order to find a good tenant. But this year, they both became vacant in January. We were a bit panicked, considering the time of year. But it was a madness. I took to announcing on my phone when I'd be there in blocks of two or three hours, and we'd have ten to twenty people stop by.

Some people wanted the application faxed to them without even seeing the house, because it was so hard to find something decent. (We keep our houses in good shape, but nothing fancy!) They were both rented in a week!

One house is a 2 bed, 1 bath with no garage and no basement which rents for $895, and the other is a 4 bed, 2 bath with garage and basement which rents for $1195. Both built in the 50s.

If you want to chat more, feel free to call.
0 votes Thank Flag Link Mon Jul 7, 2008
Westminster is a great area to invest in right now. Many opportunities to purchase homes that need sprucing up. I assisted a buyer recently in purchasing a 2000 sq ft split level at $159K. It needs paint, flooring and an update in the kitchen. They will hold and rent it for several years, breaking even on cash flow, while it appreciates.
As far as "declining market" goes, do you mean from a lenders point of view? It looks like every lender has a different system for determining that. And they are changing their criteria on a regular basis. Most neighborhoods in Westminster have seen a price decline from a year ago. Those of us watching the trends believe that we are bumping along the bottom of the market now, and will continue that way for about another year.
I can send you detailed price trends for Westminster. Just ask.

Lil Lively
Your Castle Real Estate
950 Wadsworth Blvd, Suite 120
Lakewood, CO 80214
Cell: 303-746-8827 Fax:303-265-9318
Email: Lil@TopProducer.com
http://www.LilLively.com
0 votes Thank Flag Link Thu Jun 5, 2008
Jennifer,

Despite what the media says, there are good signs that we are seeing with the current market. Fannie Mae just took off the declining market stipulation for their mortgages which is huge. The foreclosures are sure to be drying up here in a few months and analyists are predicting this market to be on the upswing.

If you would like to read more information about the Denver market, visit my website: http://www.LeslieHeldenbrand.com

Leslie Heldenbrand
Broker Associate
720-283-5978
lheldenbrand@msn.com
0 votes Thank Flag Link Wed Jun 4, 2008
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