Areas that will hold/increase in value (Denver, Aurora: apartment complexes, foreclosure)

[txp]

The future growth in the metro area is going to be north. The area around 25 and highway 7 is going to see a ton of development in the future. The biggest development in that area is Anthem. Anthem has several parks, miles of trails and a community center/gym. Its built by Pulte which is a quality builder. It hasn't been affected nearly as much in the current downturn and anything around there is likely to appreciate as the area develops.

[Mike from back east]

Originally Posted by txp

The future growth in the metro area is going to be north. The area around 25 and highway 7 is going to see a ton of development in the future. The biggest development in that area is Anthem. Anthem has several parks, miles of trails and a community center/gym. Its built by Pulte which is a quality builder. It hasn't been affected nearly as much in the current downturn and anything around there is likely to appreciate as the area develops.

Pulte builds "anthem" places in many states, similar to the Del Webb Sun City style of retirement towns in AZ and elsewhere. Pulte bought the Del Webb firm several years ago. Is this anthem going to be anything like the Sun City places, with golf carts driven on the streets to local features like golf, hobby & rec centers, eateries? Given the somewhat heated discussions here, is this place a sample of new urbanism or conventional suburbia? Thank you.

[Katiana]

Originally Posted by Bear4me

Central meaning 40-45 minutes from DIA - hospital - and lots larger than 1/2 acre. Thanks

It's hard to find lots that large here. I have heard some of the areas in Douglas County have larger lots, but nowhere close-in, except perhaps Cherry Creek.

[txp]

Half of the Anthem development is age-restricted 55+ and half is unrestricted single-family homes. Eventually there will be multi-family units as well.

Its not new urbanism but I wouldn’t consider it conventional suburbia either. The lots range from 1/5 to 1/3 of an acre so they aren’t tiny like new urbanism. But the garages are side-loaded, there are front porches and they only kind of fence you can have is split rail to create a sense of community like new urbanism.

There are community centers in both the Del Webb and Pulte sections of the development. These contain gyms, pools, water slides, basketball courts and meeting areas. There is also a full-time activities director that works out of each community center. There are a variety of social groups and a ton of activities. It is a very social community. There isn’t a golf course but there are miles of paths and a community park. There is going to be a school in the middle of the community and retail nearby.

[Bear4me]

Thank you all for your advice.

[tfox]

Originally Posted by formercalifornian

From my perspective, buying in a neighborhood seeing 22% YOY is extremely risky. That kind of appreciation is unsustainable over time, and it is the reason I sold my last two houses. For investment purposes, it's a time when you should be selling property to capture those gains, not purchasing.

22% is a bit deceiving -- those neighborhoods you mentioned all have lots of scrape-offs. Scrape-offs often sell for over 100% more than what they they were last bought for, but it's not an apples-to-apples.

[formercalifornian]

Originally Posted by tfox

22% is a bit deceiving -- those neighborhoods you mentioned all have lots of scrape-offs. Scrape-offs often sell for over 100% more than what they they were last bought for, but it's not an apples-to-apples.

That's a good point. Outliers can skew the numbers dramatically.

[dj32]

offtopic but that's another reason why zillow is widely inaccurate in innercity 'hoods. For example, a 550K property just sold a block over from me, brought my "zillow" comp down about 12%, however, that property was just scraped, and based on recent trends what takes it's place will likely be at least 1.5M.

[luvgeot]

I think the five points area ....where you pick up the light rail is a excellent area to buy into in this market. Around 25th and Washington. Many of the buildings in that area are currently being remodeled....many older run down properties have been leveled.....and are being replaced by new condo projects. Affordable for the young professional and definitely a up and coming neighborhood. You don't hear that term any longer in the current market. With gas prices what they are and heading higher....the light rail is right outside your door and for a buck or two takes you right into the heart of downtown denver....no outgoing cash for parking......gasoline etc. This area has been greatly improved over the past few years and is a diamond in the ruff for the young professional looking to invest.

[b.adams]

I would find that a scary area to live.

I used to work on 20th and I was surrounded by a gang of > 20 young men once ... and it wasn't fun.

I think some really good deals exist down in CR, on some million dollar homes that are not going for upper 500's and 600's in foreclosures. Live in it 3+ years and you'll make at least 200k