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Market Conditions in 80206 : Real Estate Advice

  • All29
  • Local Info1
  • Home Buying13
  • Home Selling4
  • Market Conditions2

Activity 54
Wed Oct 19, 2011
Ross Ethridge answered:
According to Case Shiller there are markets within the U.S. (New York being the biggest) where renting is actually cheaper than owning. However the Denver Market was recently rated the 4th strongest economy in the nation. What is basically comes down to is your loan package vs. your renting opportunity. I, as a Real Estate agent, took advantage of a home that sold for 250,000 with rent around 1400. This is a steal. Obviously my opportunity costs would do better in the financial market with solid investments all across the board. So if I make a big return or even a partial one, my "actual" rent will be much cheaper considering the money I make in the market ( Cross your fingers). So much of it comes down to your situation. However, I will be the first to say that there are opportunities in the Denver Market for each side of the equation. Where renting is better than owning and where owning is better than renting. I live downtown in a neighborhood that was significantly affected by the downturn and IMO was overpriced in 06-07. Do good research and this market can be a good thing for you. ... more
0 votes 19 answers Share Flag
Sat Mar 13, 2010
Joetta Fort answered:
If the government distributed the approved stimulus money evenly to every citizen, most could pay their homes off and there would be fewer foreclosures. But how would that help line their pockets, or buy unpopular votes? ... more
0 votes 8 answers Share Flag
Tue Nov 17, 2009
David - Appraiser answered:
The requirements are the same for all FHA approved appraisers regardless of which State they are licensed in. First requirement is you have to be a certified appraiser, not just a licensed appraiser -- http://www.nls.gov/offices/hsg/sfh/appr/appl_instr.cfm ... more
0 votes 0 Answers Share Flag
Thu Aug 20, 2009
The Kinslow Team answered:
In Denver it depends on which neighborhood. A few areas have decreased a little but most areas have stayed the same or gone up a little. I've spoken with two different landlords this week that both said they have raised the rents on their apartments this year. One owns two six plexes and the other owns condos in high rises.

If you're looking to buy an investment property, my Team works with Investors. We will help you find something with a positive cash flow.

Sandy Kinslow
... more
0 votes 4 answers Share Flag
Sun Mar 22, 2009
John Keene answered:
Michelle,

According to Metrolist, 45 detached single family homes have sold in the Highlands neighborhood of Denver over the past 4 months. If you are not currently working with an agent I would welcome the opportunity to sit down with you to provide you with a professional market analysis of your current home, as well as learn what you are looking for in your new home.

Best of luck,

John Keene
Keller Williams
303-547-7578
... more
0 votes 4 answers Share Flag
Wed Dec 2, 2009
Alan Strange answered:
Price and condition is key. Bright and shiny will speed up your time. Average days on market in the metro Denver area is 107 currently. The absorption rate is just over 2 months, so it's right in the average. Of the properties currently on the market in that subdivision there are only a couple that have been on since late last year. That speaks to price and condition again. Good luck!

Best,
Alan Strange
www.itsaSTRANGEmarket.com
303.668.5208
... more
0 votes 5 answers Share Flag
Wed Oct 29, 2008
Daniel Herron answered:
I can email that to you. Email me with how far back you are looking for and I'll email that to you.

Daniel.herron@coloradohomes.com

Take care,
0 votes 3 answers Share Flag
Thu Nov 20, 2008
James answered:
I think the problem may be that trulia is posting the last 3 months trend as the year over year trend, so the year over year numbers are incorrect throughout and of course while the market has been falling for a while, the 3 months trend looks much better than the year trend. ... more
0 votes 3 answers Share Flag
Fri Oct 24, 2008
Joetta Fort answered:
Good question. Automatically generated data can be screwy. Plus, different parts of Denver are seeing different trends. If you'd like to see raw data straight out of the MLS, let me know. ... more
0 votes 3 answers Share Flag
Thu Jan 27, 2011
Chuck Strauss answered:
I believe that, once the foreclosure situation stabalizes in that area, it will do OK. Property values throughtout GVR have not done well over the past few years, but the area is pretyy saturated with a bunch of foreclosures.
On the golf course question, owning on a golf course does not always assure success and appreciation. It depends on the course, the designer, the area of town, and other real estate related issues.
I can send you comps for the area, list vs. sale price, days on market, etc. which might give you an idea about the current market, but not necessarily where the market might be headed.
Chuck Strauss
720-318-7598
CStrauss@kw.com
... more
0 votes 3 answers Share Flag
Sat Jul 12, 2008
Daniel answered:
No games are being played. You are the consumer. All YOU need to do is TALK with a real estate professional and tell him that "you want something long term, short term, something that will build equity, rental? If you want something cheap and are willing to ride out a horrible market there GVR may be ok. I don't know the crime, the schools, etc. " ... more
0 votes 4 answers Share Flag
Tue Nov 11, 2008
Voices Member answered:
There are a few areas in the metro area where property values haven't dropped. But most of the urban areas near downtown are not only holding their values, but increasing. The Highlands area, which is in Northwest Denver and close to downtown, is a VERY popular area and values have gone up anywhere from 3-11% this year in this area. It's a neighborhood with restaurants and services you can walk to...some residents ride their bikes to work downtown. City Park and Five Points, which are areas that aren't as far along in gentrification, are experiencing very good appreciation...up to 15%.
Both of these areas have good rental possibilites.
... more
0 votes 9 answers Share Flag
Sat Oct 11, 2008
Brian Burke answered:
There are several areas in the Metro Denver that are seeing very robust sales activity. There are also areas that are appreciating quite well. Several of the recent offers we have written have been in a multiple offer situation, many within a day or 2 from when the home came on the market (some even the same day). Certainly there are still pockets that are lagging behind, but we hear and see every day that Denver's market is picking up and is moving up. ... more
0 votes 6 answers Share Flag
Tue Mar 17, 2009
Ben Edgson answered:
Hi Ethan,

Absolutely. I've financed two condos over the last 2 months as rental properties and the investor rented out the properties quickly and is cash-flow positive. Purchases prices were $60,000 and $87,000. If you're looking for a good Realtor to help you with the purchases, call David Barr -- 720.394.2096. He has been the Realtor on both and is expert at finding great investment property options in Denver.

If you need assistance with financing, give me a call or e-mail me at ben@bythebrookemortgage.com or 720.280.0441.

Take care,

Ben Edgson
Mortgage Broker
By the Brooke Mortgage
720.280.0441
... more
0 votes 7 answers Share Flag
Tue May 27, 2008
Steve Hewson answered:
Bart,

Some more information would help answer your question. For example: How may square feet are you looking for? Do you need docks or doors for unloading? What about parking? What quality of space are you looking for--high end or it doesn't matter? When you are asking about the cost per square foot, are you leasing or buying? If you'd like to contact us directly for consultation we'd like to help answer your questions. Steve ... more
0 votes 2 answers Share Flag
Wed Sep 3, 2008
Chuck Strauss answered:
I assume you are asking about the area bordered by Alameda (No) and Mississippi (SO), Federal to the west and I-25 to the east.
Very active. in the past year there were over 50 sales, and currently about 30 active listings.
Many are shor sales, REO or foreclosures, but not all. Not sure about the future of this neighborhood, but when the foreclosure situation settles down, it is a pretty good location.
Size ranges from about 500 to about 1500 square feet and pricing is from around $60K to just over $200K.
Any other information, feel free to let me know.
Chuck Strauss
Keller Williams DTC
720-318-7598
www.denverhomeguru.com
CStrauss@kw.com
... more
0 votes 3 answers Share Flag
Wed Jun 18, 2008
Jeff Boyce answered:
Dallas, Austin, San Antonio and the Houston real estate markets are in the TOP10 HOTTEST in the USA now - based upon average price, recent sales statistics, growth and valuation.

DrBoyce ... more
0 votes 2 answers Share Flag
Mon May 12, 2008
John Keene answered:
Gavin,

It is true, and an example of why the national media "doom and gloom" coverage of the housing market is not comletely accurate. Real estate really is a LOCAL market.

Give me a call so we can discuss your particular needs, and I can enroll you in my MLS search tool so you can see for yourself what those particular neighborhoods have to offer.

John Keene, EcoBroker
Keller Williams
303-547-7578
http://www.livegreen-denver.com
* call to learn how you can live carbon free for 3-years!
... more
0 votes 3 answers Share Flag
Mon Apr 28, 2008
Jennifer Oldham answered:
Hi! The Denver market typically peaks from May through August, with the peak number of homes and highest average sales price hitting in June (5129 homes, average $304,000 in 2007). You live in a great part of town, and sales in your area have been stronger than in other parts of town. Right now, more than ever, it is important to price the home right, so it sells quickly with lots of competing interest. Giving your home the best internet exposure possible, with professional photographs, will give it the boost necessary to get it sold at the highest possible price. Feel free to contact me with more questions.
Jennifer Oldham 720-234-3863
... more
0 votes 4 answers Share Flag
Tue Apr 22, 2008
Michael Geraci answered:
You are right, there are a lot of factors to weigh. The most simple factor is never put money in on your way out. Always remember that you will never get back dollar for dollar what you have put into the home when the appraisal is done. As you said, the home was gutted and updated 3 years ago so you have already made it a nice place for someone else to live. If the value of the home has not decreased much over the last period of time, then it is a good time to sell. If the value has gone down considerably, then you can always add on and stay four more years until the market comes back. ... more
0 votes 7 answers Share Flag
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