If you’re looking for a great place to buy or invest in real estate, head straight to Denver, Colorado says Greg Rand, CEO of OWNAMERICA. Appearing recently on the FOX Business Channel, Rand discussed all the things that make Denver the choice of both real estate owners and investors for 2012 and beyond.
Living in Denver offers a quality of life that is drawing people in droves from the northeast, southeast and California to name a few. It has a low cost of living and a high quality of life that includes fresh air, outdoor sports, and a stable, young population with an average age of 31.
The city’s foreclosure rate is half the national average, and the 7.8 percent unemployment rate also sits well below national numbers. There’s been little over-development in Denver and it is home to nine Fortune 500 companies. The median Denver home price is $244,100 and the per capita income $29,844.
But according to Rand, what really “draws people like a magnet” to relocate to Denver is a very stable housing market which has not collapsed in the past 15 years. This stability, combined with some general housing shifts and all of Denver’s other assets, has also attracted the particular attention of Real Estate Investment Trusts or REITs, companies that use pooled money from investors to invest in real estate.
As homeownership in general has dropped, the demand for rentals has begun to grow and caused rents to rise. This in turn has driven up the values of apartment complexes because their value is based on rental rates. However, prices of single-family homes, two-to-four family homes and condos are going down. Rand believes that this will move both public and private REITs to invest billions in the single-family housing market in 2012—and homes in Denver will be of prime interest.
So if you want a fantastic place to live, great investment opportunities—or both—Denver should be at the top of your list.
To see the entire interview with Greg Rand on FOX, go to http://www.youtube.com/watch?v=Y9frmEv-vPA&feature=share.
Let the professionals at the Bandy Team help you buy or sell a Denver home, contact us for a no-obligation consultation. If you’re thinking about buying a home in Denver, we can show you some terrific properties in Denver, including homes in Denver Highlands and real estate in Washington Park (also known as Wash Park). You may also be interested in horse property in Franktown or homes in Parker, including a wide variety of homes in Canterberry and real estate in Stonegate.