Areas that will hold/increase in value (Denver, Aurora: rentals, condos)

[steveindenver]

The further you are from the core, the more you will lose.

[judymoody]

You guys are great- but I have another question. Which neighborhoods in and out of Denver do you think will maintain their current values, or perhaps increase in value. I think we are hoping to get off "of the beaten path" when we move to CO, but we are looking at the long term 20-30 years- Also, established neighborhoods seem more inviting, but we don't have a zillion dollars to spend . . . darn . . .

[Charles]

Which mutual funds will increase in value?
What are the winning lottery numbers going to be?

Didn't someone already start a thread on this?

http://www.city-data.com/forum/denve...ase-value.html

[livecontent]

Originally Posted by judymoody

You guys are great- but I have another question. Which neighborhoods in and out of Denver do you think will maintain their current values, or perhaps increase in value. I think we are hoping to get off "of the beaten path" when we move to CO, but we are looking at the long term 20-30 years- Also, established neighborhoods seem more inviting, but we don't have a zillion dollars to spend . . . darn . . .

I know but I am not going to tell you. I have said, repeatly, on this forum the neigborhoods, in and out of Denver, that will increase in value will be those neighborhoods near a commuter rail station that are in existance or those in the future completion of 2015-16.

Yu do not have to only restrict yourself to established neigborhoods because the commuter rail is going north into areas where there are present, little housing--so the neighborhoods will come. The North Corridor will go to 160 ave. which has open space near the proposed stations. The Northwest Corridor also will have some stations that have land for new neighborhoods in the proximity. Many of these areas are "off the beaten path".

Remember nothing is certain, but where a commuter station will be---is about as good as a bet you can make, considering price of gas and the history of price increases for property near stations, here and other cities.

Where are these stations ?--well, look up my posts--I ain't going to tell you everything.

Livecontent

Ah, I am being mean, go to FasTracks Home

[suzco]

Merged threads.

[USAEconomy]

OOooOO Good! I finally found the appropriate thread to post this under.

What do people feel about the immediate vicinity surrounding UCD-AMC (Fitzsimons)--specifically Jewell-Heights/Hoffman Heights? This is directly South of Colfax between Peoria and I-225. Would buying a 1/7th acre, 3br, 2bath brick ranch in walking distance of campus be reasonable (foreclosure price ~$80,000, but others can sell for $180,000) to live in for 5+ years? These houses were built in the 50s and require regular maintainance, this is known, but I would consider it a location that will hold/increase in value.

Negatives include: stigma of the "Colfax" name, high foreclosure rate, older homes, run-down neighborhood.

Strengths include: Proximity to UCD-AMC's 30,000 jobs--compared to Downtown Denver's ~110,000, easy walking distance to school/hospital/work, 2 light rail stops planned, complete 'scraping' of the Colfax corridor with ~$500,000,000 in new construction happening right now including 2 high-end apartment complexes, retail, restaurants, 2 hotels (Hilton), ice skating rink, convention center, etc.

I think it has the makings of a great campus community but I don't know if people perceive the area as too 'blighted.' I'd love to hear everyone's opinions.

[livecontent]

Originally Posted by USAEconomy

OOooOO Good! I finally found the appropriate thread to post this under.

What do people feel about the immediate vicinity surrounding UCD-AMC (Fitzsimons)--specifically Jewell-Heights/Hoffman Heights? This is directly South of Colfax between Peoria and I-225. Would buying a 1/7th acre, 3br, 2bath brick ranch in walking distance of campus be reasonable (foreclosure price ~$80,000, but others can sell for $180,000) to live in for 5+ years? These houses were built in the 50s and require regular maintainance, this is known, but I would consider it a location that will hold/increase in value.

Negatives include: stigma of the "Colfax" name, high foreclosure rate, older homes, run-down neighborhood.

Strengths include: Proximity to UCD-AMC's 30,000 jobs--compared to Downtown Denver's ~110,000, easy walking distance to school/hospital/work, 2 light rail stops planned, complete 'scraping' of the Colfax corridor with ~$500,000,000 in new construction happening right now including 2 high-end apartment complexes, retail, restaurants, 2 hotels (Hilton), ice skating rink, convention center, etc.

I think it has the makings of a great campus community but I don't know if people perceive the area as too 'blighted.' I'd love to hear everyone's opinions.

I have made some comments about this area in past post about how I really disliked this area and wonder how they could think that this area could change with the new medical campus. I decided recently to take a look and somehow changed some of my opinions; I think the campus will cause some good changes in the area.

It is certainly growing and there are massive developments plans in the works, as you have said. I think long term residence like myself look at this area as a bad area. It was bad when it was a Army Hospital and you would have though that the influence of the military would not have been so bad,because it was not an infantry post. However, it was not the military site itself that influenced the area around it but the proximity to these very bad areas of Aurora.

I think that East Colfax is getting very much better in areas in Denver and the campus will bring good changes on East Colfax in Aurora and these changes will be positive for the neighborhoods south, as in Hoffman Heights. In addition, there are good changes happening south of the area along Alameda and Havana that will positively improve this area, as an example to redevelopment of Buckingham Square.

What I would be more concerned about is areas north on Peoria. Montbello are considered less than desirable and these are up the road from the medical campus.

When I grew up, in New York, I believed that crime and bad behavior was caused by the environment and that if you take people out of bad areas they will behave better and have more respect for their environment and other people. But in Montbello we have a "new" suburbs" community with nice housing, in Denver, and some people behave the same, as if they lived in a ghetto. I just do not understand Montbello, good housing, close proximity to good jobs.....

It will be interesting to see if the East Corridor Fastrack station at Peoria and Smith will be a problem with crime. The two station planned on the I-225corridor for Fitzimmons will certainly generate big changes and a large Transit Oriented Development at the Fitzimmons/Colfax station. That is the nearest to your area of interest. The full impact of the commuter rail will not be felt until close to completion, at about the latter half of 2015 for the I-225 corridor. So, I would think that you will have to hold on to the house for about 7 years to see a good appreciation in value.

I do not see any development or influence from the medical campus going up north pass I-70 and I see that this area will continue to fester and the bad folks will look at the opportunities on the campus and the developments as a good place for misdeeds. Maybe Denver will have to spend more time in Montbello and teach them how to thrive and
Livecontent

[tfox]

Originally Posted by USAEconomy

What do people feel about the immediate vicinity surrounding UCD-AMC (Fitzsimons)--specifically Jewell-Heights/Hoffman Heights?

Well, let's put it this way: it has nowhere to go but up. Seriously, I think asking long-term Denver residents the question is the wrong way to go about it -- most of us have such a negative viewpoint on that area that we may not be capable of realizing its full potential. Certainly the AMC is the best thing that ever happened to that area, so the potential for good things is there. As for whether it's the next Lowry -- frankly I kind of doubt it, but you never know -- again, I may be too colored by past perceptions to be objective on the subject.

[Katiana]

If you're only going to live there for five years, it probably wouldn't be the greatest investment. It's going to take a few years for the area to gentrify, if ever. 1/7 acre is small even for here, roughly 6000 sq ft, with the house taking up part of that. Maybe not small for the neighborhood, though.

[mmanion]

Originally Posted by formercalifornian

Good grief, 2B! The OP asked for opinions, and I gave him mine. He can decide for himself whether or not my opinion is valid. No need to go on the attack.

Thanks for this formercalifornian. I find the defensive replies to a legitimate request for an opinion to be very frustrating. Is this really what this forum is all about--express an opinion and get attacked? We're all just trying to muddle through a crapola housing situation and figure out the next best move. Is the snark and condescension really necessary? Frankly, 2B, you seem to be "protesting too much." Denver is a fine and lovely city that doesn't need artificial pumping up to justify its existence. Suggesting that the housing market may not be ideal for the next few years is hardly an attack on Denver and it certainly isn't a personal attack on you--it's the reality of what's going on nationwide. Denver may be less affected, but it is clearly not immune from the housing market meltdown any more than any other major metro area. I hope your rosy housing outlook is correct--it would be great for all of us--but there's really no need to jump down the throats of others who take a less optimistic view of the short term (1-2 year) housing situation.