Denver Poised to Recover First from Real Estate Slump

By
Real Estate Agent with Bandy Homes

man, rocketIf you scan the real estate headlines about the Denver housing market, it's confusing enough to make you want to stay glued to ESPN.  You hear it's a buyer's market.  The clues are that prices have been dropping and there are plenty of homes to choose from.  After all, the lower the prices, the better deal you'll get.  But we're now seeing prices start to firm up, especially in the lower priced entry level segment.  We're even seeing multiple offers on many of these homes.  The word is out - now is the time to buy if at all possible.

Just as you are reaching for the remote, a real estate expert is featured on the Today show segment and you hear the words "Denver," "No. 1 city," and "housing recovery" all in the same sentence.  That grabs your attention.  There you see real estate expert Barbara Corcoran predicting that "Denver is the No. 1 city on the verge of recovery from the real estate slump."

On what does she base this good news about the Denver real estate market?

Early foreclosures and recent decreases in foreclosure - Foreclosures hit Denver real estate before other areas of the country; for a time the city and the State of Colorado led the nation.  Denver foreclosures decreased 46% in the first quarter of 2009 as compared to the same period a year ago and down 22.8% from last quarter of 2008. 

Job growth potential - Aerospace, aviation, bioscience, energy, financial services, and information technology are booming in Denver. Workers are educated and healthy.

Population growth - The city has sustained a steady population growth of 2% over the past 8 years

Good weather - 300 days of sunshine, low humidity, mild winters, and moderate temperatures make Denver a popular destination

Large number of first time homeowners - The median age of the metro Denver population is 35.5, just a little shy of the National Association of Realtor's median age of first time homebuyers.  Median family income is nearly $55,000

Well educated population - over 34% of the Colorado's workforce have bachelor's degrees, figures exceeded only by Massachusetts and Maryland.  Area colleges and training centers offer opportunities for continual workforce training.

Coupled with a vital downtown, limited overbuilding of condos or office buildings, great schools, and beautiful parks, it's no wonder that Denver is the most likely place in the country to recover from the housing problems of the last few years.

So what does this mean to you? If you are thinking about buying a home, this is the time to do it.  If you've lived in Denver for more than a day, you know that Denver is great place to live.  You don't need an expert to tell you that buying a home in Denver will be a sound investment for years to come.

Put down that remote and give Bandy Homes a call!  We can find you a great home in Castle Rock or any other community in the greater Denver area.  If you are a first time homebuyer, we can show how the $8,000 tax credit can work for you.

Marianne Bandy

We have great schools in Denver

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Colorado Douglas County
Groups:
Realtors®
Colorado Realty Bloggers
Colorado Real Estate
Tags:
denver colorado real estate
first time home buyer
denver housing market
denver home sales
castle rock colorado

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,400,038
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

I get my news from a homeless man at the intersection of (9th and Creighton) he has been right more than all the news station combined. He told me in 2004 that Osama Bin Laden would be president before a woman would ever be elected. In 2005 he said the Real Estate market would blow up within a year. He also said in 07 that a Nut would be the deciding vote in the 08 election. I think ACORN is a kind of nut. Of course I didn't follow his advice but look how close he came compared to the rest. He says he can see the future. Go figure 

Jun 03, 2009 03:01 PM #1
Rainer
207,504
Shane OnullGorman
Eau Claire Realty, Inc. - Eau Claire, WI
Eau Claire Wisconsin, Real Estate Agent & Realtor- Buy or Sell

I just landed in Denver over the weekend. Sorry I only got to see the airport. I hope its true that it bounces back quick!

Jun 03, 2009 03:07 PM #2
Rainer
76,589
Sabrina Kelley
ERA Herman Group Real Estate - Woodland Park, CO
Woodland Park Colorado Mountain Homes and Land

Some indicators are pointing Denver as a region that will begin the rise to the top.

Jun 16, 2009 09:43 AM #3
Anonymous
home equity loans

My friends told me about this. And on my first heard about it, i can't imagine how it looks like. But as i read this article. Now i know. Nice article. Thanks for posting it. - home equity loans

Aug 24, 2010 02:41 AM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
485,438

Marianne Bandy

CRS, GRI, Certified Negotiation Expert
Ask me a question
*
*
*
*
Spam prevention

Additional Information