Denver Market: Not bad!

By
Real Estate Agent with Cherry Creek Properties

* Over 6,000 homes & condos have been purchased in Denver city alone from January to June 2008(not including neighboring cities like Lakewood or Aurora)!

* Denver is one of the cheapest well-desired cities to live in in the West, at an average home price of $247K, which makes it more attractive for large companies and home buyers than a city like San Diego($600K average).

* Buying vs. Renting: Buying a property will actually help you build equity and appreciation which you can pull out and invest later, while you can never receive any of your rental money back.

* The Denver market isn't going to stay down forever. With the Denver population growing 2% per year, it is a stable city, and has room to appreciate(some neighborhoods are still appreciating Downtown Denver even now) while more expensive cities have more room to free-fall.

* Mortgage rates are at a great place right now at about 6%. There is a possibility they will go up due to inflation.

* Dozens of homes are being purchased everyday in Denver.

* Rental investment properties are rather cheap now. In lower-income neighborhoods, many owners have had to foreclose and rent, making rent stronger and higher, which means you can easily cash-flow and build a passive-income portfolio.

Comments (1)

Neal Barnes
Starstate Realty - Killeen, TX
Broker, REALTOR, ABR, CRS, GRI, SRES, SRS.

Hi Jonathan -  Welcome to Active Rain.  I look forward to networking with you and reading your future post.   Have a great day!!!

Nov 23, 2008 02:52 PM