If 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.